Episode 29 – Life First, Dental Practice Second (Part 1)

“It was very intentional: whatever we were going to do, it was going to fit around our lifestyle and family.” ~Dr. Clint Euse

You can’t create the freedom and autonomy you want by working for someone else. Which is probably why you own your own dental practice.

But life doesn’t always look like you hope it will. Owning your own practice is hard. It’s stressful. You have to lead a team, grow your business, and treat your patients.  

So I have a question for you: Are you a victim of circumstance? Did you just kind of end up where you are because of what life threw at you?

What if I told you your life should come first, and your business second?

Does that sound like it’s backward? If you are interested in building an Investment Grade PracticeTM, it’s not! 

My guests today Drs. Clint and Kelly Euse – are shining examples of what it means to run an Investment Grade PracticeTM. – building a life you love today, while having an eye on the future and your assets. 

I love to make the lives of independent dental entrepreneurs easy! So join me today as we dive into foundational strategies you can use you build your Investment Grade PracticeTM, including:

• Planning your business around your life
• Getting past the “Founders’ Dilemma”
• Moving from predictability to durability

Want to know if you have an Investment Grade PracticeTM? Click here to use the completely free Investment Grade PracticeTM calculator: What’s my IgP Freedom Number?

Want to have a conversation about your Investment Grade PracticeTM? Contact Brent at brent@productivedentist.com.
Never miss an episode! Subscribe to Investment Grade PracticesTM Podcast on iTunes & Spotify.

EPISODE TRANSCRIPT

Victoria Peterson
Hello, Dr. Victoria Peterson here and I am so excited for today’s episode. In fact, this is an encore presentation. As you may remember, I interviewed Dr. Clint use a couple of episodes back and I’ve had the pleasure of witnessing him and his wife, Dr. Kelly Hughes, craft their dental practice over the past decade and crafted not only around their business goals but around their life goals. They are such shining examples of what it means to build an Investment Grade Practice. My conversation was so powerful that I’m actually having my team break it up into two parts, the topics we talk about are vital. In fact, I think they’re foundational to building an Investment Grade Practice. So I want to make sure that you have space to really absorb and think about these things and how you can apply them to your life and your practice. Let’s get started. Today I am beyond thrilled to speak with two people that I have known for more than a decade and they to me model what an IGP practices. Welcome doctors Clint and Kelly use.

Dr. Client Euse
Oh, well. Thank you, Victoria. We are excited to spend more time with you. We always love hanging out with you. So this is it’s always an honor. Thank you, Victoria, for sure. It’s been too long since we chatted. So happy to hear your voice.

Victoria Peterson
Well, I’m so glad to have you here. Clint, you and I produced a podcast a couple of months ago and it was so wildly popular, particularly amongst your PDA peers. In fact, I was talking to a chi friend he’s like, how does Clint doing that? You really pique curiosity amongst your peers. So I thought, you know, um, you’re very humble, and you’re very grounded and one of the things that I know that grounds you are your family and your wife is a very special person on many levels. One, she’s an amazing clinician, she’s your business partner. So much has changed over the last few years. So I just Kelly wanted to invite you into this conversation to get a female perspective on business and life and dentistry as well. All right. Yeah, well, I’ll do my best.

Dr. Client Euse
Yeah, and I’m super excited to Kelly’s part of this as well because she is a huge part of our success, and we really have this journey really has been as a team, you know? So if the idea is that it’s it’s more my doing that that would be false. So I’m excited to Kelly’s joining us for this because this definitely a team effort.

Victoria Peterson
Well, last time you shared that, I loved it when you said, I want to be like Bruce someday and work two days a week. How many of you’re working and you’re like two and a half. So you and Kelly have a particular life plan and your business comes second? So what inspired that? What inspired you to be bold enough to say, My Life comes first in my business? come second? Yeah,

Dr. Client Euse
yeah, I think, Well, I think for Kelly and I, there’s, there’s always been, I mean, we always knew that the family was most important to us, we always knew that we wanted a family and we knew that that was, that was one of those things that were non-negotiable for us is that if, you know, whatever we’re going to do, and obviously, we chose dentistry, that it was going to fit around our lifestyle, and it was gonna fit around our family and so it was very intentional, you know, that we went into this with, with the plan that that, you know, when we’re working together, that we wanted to have time with our family, and we wanted to set up our schedule, so that we could always, you know, one of us could always take the kids to school, or pick them up from school, or be at their events or coach their basketball teams or, and so I think, how we did that, I mean, we going into it, we always knew that we wanted, and then we had to figure out how to get there and I think what we did is we just kind of looked we set up those goals, put out there that these are the non-negotiables and then we just worked backward to say, hey, how do we do this? You know, how do we set up our schedule?

How do we, you know, it’s so much of that comes down to the financial aspect of it is you have to make it work financially. You know, and of course, we are working with PDA working with you guys working with, with Christine, you know, we set out that plan of what do we need to make you want to keep the business going too to reach our goals financially for our family, and then really work backwards from there and put the plan in place where, you know, how much do we need to produce? How are we going to get there? What schedules are we going to work? So I think that you know, I see so many people in life, that are just kind of victims of circumstance that they just they end up just where they end up and I think that you know, I wanted to be different than that and that’s what we have really focused on in our business and family is the setting of that goal and then kind of working backwards from there.

Dr. Kelly Euse
Right? It’s being intentional, I think that’s what it came down to, you know, being a female going to dental school. My goal was I was like, Okay, I’m gonna be a Doctor, I’m gonna take care of my patients, you know, I have to pay off my student loans, there are always other bills that come along, you know, you’re gonna be working and you’re gonna be working hard and then, of course, a goal is always like, okay, get married, you know, find somebody that you know, you work out with, and so many different levels, right? And then when the boys came along, then two boys, it was like, Okay, wow, like, this is really important. We knew we wanted to have a family and just like Clint said, how can you be intentional to create what you have to produce to build number one, but of course, create that family life you want to nurture, right?

If I didn’t want the boys to, you know, be raised by somebody else and so it’s like, okay, how can we make this work? You know, and so we have schedules that if I’m at the office, close to home, and if, you know, vice versa. So I’m able to volunteer at the school, and I’m able to have been able to see the boys grow up. I’ve been, you know, the mommy helper in the classrooms, which has been awesome and, you know, by working the schedule that I work, when I’m at work, I’m focused, I’m driven, taking care of the patients that I’m there. I’m working hard, and I’m productive. When I’m at home, thankful for small and I love them. I love it. Kelly,

Victoria Peterson
do you think that you could have created the same freedom and autonomy working for someone else?

Dr. Kelly Euse
No way. No. It’s so interesting. You know, they were first, you know, when I was in dental school, I always thought, Okay, I’m gonna forge my own path. I’m gonna do my own thing and then it’s like things just kind of change you mature a little bit more, you kind of it’s interesting. I did originally think, Oh, I’m going to come out of school, or kind of, you know, they’ve been associate forge my own path, you know and this, you know, tall handsome guy. You know, we both still remain subordinate. So, of course, obviously, everything worked out wonderfully. But it just, you know, and I have a word for other pinches in the past. But when quit I became, I guess, Jordan on the same team. It just made way more sense and we didn’t see it until I was right there. Oh, yeah. Like we’re we stronger in the team than individually trying to create two separate businesses and so for me, I think that’s been more empowering. Because Clint is so good at certain things and is good at difficult. I think it’s kind of like a yin and yang, as you know, from our personality types. Keep things really, you know, strong in certain areas and conditions and I guess I described myself as being a really good cheerleader and I know what I’m good at and what my strengths are and I think that you know, what’s the word I think it complements what, what Clint is, and whatever he stands for and I think he definitely complements what I can do and what my strengths are. So definitely working as a team, you know, has been great, not only for our production and our business but our relationship at home. It’s like, we’re both on the same team and so it’s like, working for the same role not working for somebody else, or, you know, individual practices. Oh, that’s so

Victoria Peterson
so beautifully said and I know that both of you get into our spirit animals every year, and this year. We’re

Dr. Client Euse
going for the hippo this year, I got overruled somehow

Victoria Peterson
the animals speak I have no control over it. But you know, we’re in that year, the dragonfly was just all about transformation in our expression this year, and Kelly, you really hit on this is we define leading as dreaming with execution and so when you say you’re the cheerleader, I want everyone to understand that that’s not that. You know, you’re the gorgeous blonde with pom poms on the side, you are that but you are very strategic. You know, I’ve seen you I saw I remember years ago, when you first began reshaping the hygiene department and you had weekly hygiene meetings, and you brought in outside mentors and teachers, and you really hone that, and then when you got into Botox, I mean, you own that. So you’re a mighty cheerleader.

Dr. Client Euse
Yes, absolutely. 100%. Absolutely.

Victoria Peterson
So, now that we talked about this last time plant, you shifted from 50% ownership how to a great partnership, and I really want to keep highlighting that because I hear in the marketplace that that is dead, you know, partnerships don’t work, blah, blah, blah and that is true, you know, it is it’s relationship-driven and you have to work at it and you and Randy had a great partnership and now you’re 100%. Owner? Where do you think the upper limits are now that you and Kelly have combined forces here? You know, what, what are your upper limits?

Dr. Client Euse
You know, I, honestly, I don’t think there is a limit. I, one of the great things about dentistry, you know, is that there is so much kind of flexibility and room for making it whatever you want to make it. Yeah. You know, I think that, that there’s, and that’s kind of our next transition. I mean, that’s what we’re working on is we have really been, you know, I love the term investment group practice, you know, is I think that that just it just clarify so many things for me of kind of what we’re trying to build and you’ll Kelly and I as, as two of the three dentists in the practice are a large portion of the production where a large portion of, of keeping the bills paid in the practice going, and really the next transition and the reason I’m so excited about kind of the owning the entire practice and having complete control over where it goes is really going to that next step of building the practice that kind of goes beyond us, and so that it’s not so dependent on our, our sole production and so when I think about like an Investment Grade Practice,

you know, that’s what I think about is that, at some point, there is going to be a time for us to transition out of dentistry and I don’t want that transition to be that, that how are they going to replace Kelly and me, you know, and then we have to figure out a, a, you know, up to plan or you look at people that are selling to DSOs you know, and I don’t know how this came across last time and I am 100% I’m not anti-DSO, you know, really, I’m just kind of speaking from my own experience of what’s working for us and where how I see the market right now. You know, but I don’t want to be in a position where I have to sell and then I have to work back for, you know, three to five years under someone else’s terms. You know, I’ve always enjoyed just my personality and how I like to do things. I’ve always enjoyed kind of that control over the practice and control over our vision and our timelines and so, you know, that’s kind of our next, I guess our next step is really developing that practice that goes beyond us where we’re, of course, part of the production, but not the sole producers that we have to figure out how do we replace us down the road if that makes

Victoria Peterson
sense? total sense. In fact, there’s a term for that it’s called Getting past the founder’s dilemma. Right, so the founder’s dilemma is this is my dream, my vision, my lifestyle, gotta just the way I want it and I think it’s the biggest mistake that private practice owners make is, they build these little kingdoms as you you want control over and you want it static, and trying to capture that, and it never gets past the founder. So in that case, you’re not building a business, you’re building a high-paying job, you’re building a lifestyle, but you’re not building a business. So I think you’re like so wise in even though you may not know the term for it, you’re you had a business that, you know, when Randy brought you in, it was not a guess. But it was like a cross your fingers and hope that we’re now big enough for to and, you know, he needed some relief, and you wanted to buy in and so there you go, and you had to prove that it was viable, and spend some time doing that it was viable to the point that you could bring Kelly in as an associate. That’s when things became very predictable. Now, you’re very predictable, and you can go into durable. That’s really the third phase of investment, great practices durable. You’re also doing the other thing that is smart as an investment, great practice, you’re building additional assets. Is that right? Like you’ve leased your space for a long time, and you’re considering something different?

Dr. Client Euse
Yeah, yeah, we are, well, probably about a month away from closing on, on buying the building that we’ve been leasing for a long time, you know, which has been something that I’ve wanted to do for a long time and the opportunity that finally worked out that we had the opportunity to purchase the building, and which the timing is perfect because it really works with our, our goals right now, which is to expand the practice, like I said, kind of beyond ourselves, we continue to work and we’re not going anywhere, anytime soon, but we really need to go to that next step of bringing on some more doctors and, and even just expanding some service mix.

You know, I mean, there are things like endo in our practice that none of us are doing right now that we’re referring out, I mean, hundreds of 1000s of dollars a year in Endo and, you know, we’re gonna be bringing on you, no matter our new dentist, that is joining the practice, that’s one of the things that he’s gonna bring, is that he does do it, though, doesn’t really well and enjoys doing it and so they’re just, you know, service next we can expand, you know, the soul grow the practice without, without having to put that on our backs or, or your clinically increase our demands on Kelly and myself and so, in building that asset, you know, I’m super excited about it, I know that there’s gonna be challenges with owning the building and when things break now you got to figure it out. There’s a lot that goes into that.

Victoria Peterson
Tell me about the building. Tell me about the building, because most people think of a dental office, as you know, a parking lot a single-story space and some, you know, operatories in a nice reception area, what is your building look like?

Dr. Client Euse
So it’s so we’ve been at about 5000 square feet. So it’s a single-standing building, you know, it’s not in a complex or anything and we’ve been in about half the building, so about 5000 square feet, and then we’re going to be expanding into the other 5000 square feet. You work 10 operatories right now, and they’re going to be not going quite to 20 Probably more to about 18 Ops, and but really, really opening up. I just love things we’re excited about, you know, I mean, just the kind of the flow, the flow, the office, the entry to the office. I’ve never loved the well. Yeah, Kelly is excited. Kelly is excited to decorate and update the office.

Victoria Peterson
Are there other tenants in the building?

Dr. Client Euse
Currently, there are but not there will not be once we purchased the building, we’re relocating a tenant and then we’ll have the entire building to ourselves.

Victoria Peterson
So I just love the certainty in your voice and I love that you’re just like you keep saying it over and over and we’re building another asset. We’re building another asset. That’s what makes it investment grade. I don’t know if Christine has shared this with you, but we ran a growth opportunity report on your practice last week.

Dr. Client Euse
If she shows, no,

Victoria Peterson
you could go from 3.2 million to 6 million on your current patient base in your current patient flow with your new patient flow and where you’re at now and when we talked about it, I said, What do you think the limiting factor is, and she’s like space, age, you know, they bring on some more. So there’s, I think that you will quickly want to go, you will go from 3.2 to four to five to six over the next few years and, you know, certainly you can build a plan towards that. So it’s good to know that you’re, you’re tapping into that, because how sad to stay confined to 5000 square feet because you’ve got every reason in the world not to change, life is good. I’m working the days I want, I’m making more money than I thought I just bought the building, that’ll be a nice little comfy nest egg, you have every reason in the world to not grow. So why are you growing?

Dr. Client Euse
Well, yeah, I think that I think it’s because there needs to be, you know, in my mind, there always has to be, well, one kind of what’s next, but also just planning for the future, you know, is that, like, you were saying, you know, if we keep doing what we’re doing, which is great for now, but there’s going to come a time where we’re not going to want to do this anymore, you know, and want more flexibility, you know, we’re retired, transition out whatever that is, and the only way I can see that happening, well, I guess there’s kind of two paths I can see is one is what we’re doing now, or potentially selling to a DSO like a lot of people are doing. But that just does not interest me. Right now.

Dr. Kelly Euse
I’m gonna jump in if I can’t. Sure, I think by extending to the current that it gives both of us, especially Clint the opportunity to do the type of dentistry he wants to do, you know, the smile design team is excellent and the implants with the, you know, CT machine, and the steroid company integrates that and the surgical guide and that takes time planning and those bigger cases, take longer than, you know, your crowns and fillings and things like that and can you do that? Yeah, we can do that. We’ve done that for umpteen years and anyway, I think like standing up gives him the opportunity to then have other dentists come in, provide civil services for our clients, help our patients don’t need those fillings, the crowns, the extraction for dentures, things like that, click and take it to that higher level tends to he likes to do and then it also gives me my niche of Yes, I can still be present. But I can also, you know, help the patients that have pain and do the Botox.

I can, you know, do my users. I mean, there are so many cool things out there in dentistry and it’s just truly finding, like, how can I work this in my schedule to do this, you know, and, and on top of that is, we’re close on Fridays and with expanding our office, we’re still choosing to stay close on Fridays, because not only do we value our family life, we also appreciate or respect our team’s family life. They love coming to work when we do Thursday, or they’re their teams, they work hard, they’re productive, they help us to become productive, and then they know that they have Friday, Saturday, and Sunday off and I think that that helps them to stay charged. Yeah.

Dr. Client Euse
And I think it’s how we run the business, honestly, I mean, if you’re looking at it from a pure numbers standpoint, and you’re looking at it from a pure growth standpoint, and how to completely optimize every last piece of that space, like, do not come to talk to us. You know, if you want to know how to like run your business through weekends and evenings, and like that is not at all how we run our practice. You know, but a lot of that is because we’ve chosen like I think lifestyle over the end goal of just having the most productive practice possible.

Victoria Peterson
I’ll have to say it again, we set it at the top of the hour. The two of you are the role model for an Investment Grade Practice, building a life you love today for yourself and your team while having an eye toward the future and your assets. It’s that duality. I love this. If you want to optimize every square inch 24/7 Don’t come to talk to us. That’s classic.

Dr. Client Euse
Yeah, just be an artist there, you know, but you know, but with growing the practice, you know, or having the ability to expand the space and things like that. You know, that now there is a lot of opportunity for growth, you know, but still growing, you know, under the, you know, or with a goal of, of not impacting our current lifestyle. out flexibility that we that we’ve come to enjoy. It will be built on. So that’s yeah, that’s where we’re at.

Victoria Peterson
Wow, I don’t know about you. But I learned so much from that conversation. I just loved talking to Clint and Kelly. They have a great worldview, a balance, wisdom, and incredible business acumen. I hope that you could hear the fun that they have and the joy that they bring into the world not only for themselves but their team and that is a key aspect of their success as our conversation is not done, please join me again for a special bonus Investment Grade Practices podcast for the second part of our conversation, where they will share some phenomenal business pearls, about using their core values to attract a team who understand where they’re going and is dedicated to implementing the vision that they have. They’re going to reveal the tools for hiring, onboarding, and performance reviews through the lens of core values. I know you’ll want to tune into that