761: The Energy Quotient & How Many Days You Work for Free as a Dentist – Dr. Barrett Straub

You've put a ton of time, money, and effort into becoming a dentist. You deserve to make a profit! If that sounds impossible, keep listening. Kirk Behrendt brings back Dr. Barrett Straub, ACT’s CEO, to explain why working harder isn't making you more money, and how understanding the energy quotient will help you gain ultimate control over your practice. It’s time to stop working harder for less! To learn how, listen to Episode 761 of The Best Practices Show!

Learn More About Dr. Straub:

• Send Dr. Straub an email: [email protected] 
• Join Dr. Straub on Facebook: https://www.facebook.com/barrett.d.straub
• Register for Dr. Straub’s live workshop (August 23, 2024): https://www.eventbrite.com/e/act-dental-gaps-method-the-formula-for-financial-freedom-tickets-776572418007

More Helpful Links for a Better Practice & a Better Life:

• Subscribe to The Best Practices Show: https://the-best-practices-show.captivate.fm/listen
• Join The Best Practices Association: https://www.actdental.com/bpa
• Join ACT’s To The Top Study Club: https://www.actdental.com/ttt
• See the ACT Dental/BPA Live Event Schedule: https://www.actdental.com/event
• Get The Best Practices Magazine for free: https://www.actdental.com/magazine
• Please leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218

Episode Resources:

• Watch the video version of Episode 761: https://www.youtube.com/@actdental/videos

Main Takeaways:

• Understand the importance of the energy quotient.
• Calculate how many days you're working for free. Lower that number!
• Your energy quotient doesn't need to be zero — it’s okay to be charitable.
• When you manage your energy levels right, your quality of care will increase.
• You don't need to work more hours and have more operatories to make more money.
• If you increase patient volume, you will have less control over your practice and your life.
• It’s not just about the money. Lowering your energy quotient will lead to a better practice. 

Snippets:

0:00 Introduction.

1:28 Gross production and the effort gap, explained.

8:43 The energy quotient, explained.

15:39 Manage your energy levels.

18:29 Time is the new rich.

20:55 Money gives you options.

23:38 What your dental accountants don't know.

26:06 More about ACT’s GAPs webinar.

29:35 Final thoughts.

Dr. Barrett Straub Bio:

Dr. Barrett Straub practices general and sedation dentistry in Port Washington, Wisconsin. He has worked hard to develop his practice into a top-performing, fee-for-service practice that focuses on improving the lives of patients through dentistry.

A graduate of Marquette Dental School, Dr. Straub’s advanced training and CE includes work at the Spear Institute, LVI, DOCS, and as a member of the Milwaukee Study Club. He is a past member of the Wisconsin Dental Association Board of Trustees and was awarded the Marquette Dental School 2017 Young Alumnus of the Year. As a former ACT coaching client that experienced first-hand the transformation that coaching can provide, he is passionate about helping other dentists create the practice they’ve always wanted.

Dr. Straub loves to hunt, golf, and spend winter on the ice, curling. He is married to Katie, with two daughters, Abby and Elizabeth.