A Practice Owners Guide to Dealing with Wins

Episode 395,   Jan 17, 2023, 10:00 PM

In today’s episode, Jesse sits down with good mate and repeat guest, Dr Tyson Franklin to discuss how you can navigate the wins (and losses) of your business practice. 

Tyson is a successful Podiatrist, author, business coach and host of his own podcast Podiatry Legends, and also joined us on  episodes 14, 95, 150 and 355 of The Savvy Dentist Podcast, so be sure to have a listen to the back-catalog once you’ve finished listening to this week’s episode.

In this episode we discuss:

  • [1:09] - Why do we over-value our losses in life, yet under-value our wins in our day-to-day? 
  • [4:13] - As dentists, we are ‘perfectionists’ by nature and are trained and rewarded to find fault, through training, through our business. We are honed to what is ‘not right’.
  • [7:23] - Jesse & Tyson discuss examples of when we can be better at understanding 'the wins'.
  • [10:53] - If you never take ‘the swing’, you’ll never get the ‘wins’. The key is not to take too long before you take the swing … and then the next swing … and then the next …
  • [13:55] - Book mention: Thinking in Bets - Making Smarter Decisions When You Don't Have All the Facts (Annie Duke)
  • [17:03] - The reason people keep on hanging on to losses is because they don’t want to admit that they’ve made a mistake. And it will hold them back from making the next decision! “Use past mistakes as a learning for future decisions.”
  • [22:03] - A good decision can still lead to a poor outcome. So what can you do in this situation?
  • [30:47] - So if you've had a few things go wrong, and are a little bit 'gun-shy', what can you do to get back to making decisions and moving towards more wins?
  • [42:16] - Remember, every big business you know of today … once started as a ‘small’ business. And every big business still makes mistakes as the company grows larger.
  • [43:39] - key take-away: The people who do well in their business practice, over-value their wins, and under-value their losses as a general habit.
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