Dentists Who Invest

Podcast Episode

Full Transcript

Dr James: 

Thank you. Welcome back to the Dentist Invest podcast. This is special episode today, a solo episode where we describe the 11.5 ways that a dentist can earn more money quite literally, today. This is not like investing, where it takes quite some time for the fruits of your labor to become apparent, for you to be able to make consistent withdrawals from your accounts in which you have grown your assets continuously over time, ie a yield. These are things that you can use to enhance your income today. What do I mean by that and why is it so important? First of all, let’s talk about why there is 11.5. There is 11.5 ways in this podcast episode because there’s 11 ways, fully encompassed ways. There’s 11 full-bodied methods that we can use, and then there’s a 0.5 on top, the 0.5 being a little bit of an adjunct to the final method, method number 11. We’re going to reveal what that is as the podcast goes on, but each and every one of these can be used for you to enhance your income today. Why is that so important? Think about it like this Everybody’s obsessed with passive income. What is passive income? Let’s delve into that. Passive income is when we begin to obtain money on a continuous basis without spending any time whatsoever to acquire it. That’s the wordy definition. What does that actually mean? Think about it. If we go to work and we work for one hour, let’s say we work for one hour and we obtain 100 pounds in return, so therefore our hourly rate is 100 pounds. Now, let’s think about that. Let’s take that to an extreme. If I go to work and I earn 200 pounds in an hour, then actually I’ve doubled my wage, or I’ve halved the amount of time it takes to earn 100 pounds, because they’re exactly the same thing, if you think about it, because one hour now equals 200 pounds, or 30 minutes equals 100 pounds, if you think about it. Let’s take that to an extreme. If I earn 500 pounds in an hour now, it takes me 30 minutes to earn 250 pounds. If I earn 1000 pounds in an hour, it now takes me 30 minutes to earn 500 pounds. So you can see where I’m going with this. The extreme outcome of that is where I spend the most minimal time possible to earn a huge sum of money, which basically is passive income, If you think about it, and all I’ve done is increase the rate at which I earn money to such stupendous amount that it resembles passive income. Passive income is the ideal that is at the end of that process, but, like most ideals, it doesn’t really exist in reality. The best way to do it is just to create a ton of assets that give you residual income. There will always have been some work at some point to create these assets. Therefore, it’s not truly passive. Passive suggests that they just appeared one day and started to give you money. That is not the case. That is not very likely to occur, so unlikely, in fact, that it’s just not even worth holding a breath for. It’s like way less likely than winning the lottery. We’re talking infinitesimal small odds of that occurring. So, really, pragmatically, the best thing we can do is take active steps towards that by increasing the amount of revenue we can generate per unit time. How do we do that? We think about the things that will allow us to increase our hourly rate and be more valuable to others, because that’s effectively what it is. So that, of course, begs the question how do we do that? Well, let’s get into our 11.5 so we can begin to understand how this can be undertaken and how we can begin to move towards creating more passive income in our lives, which is the buzzword that everybody’s after, but this is pragmatically how it’s done. So, first and foremost, method number one believe it’s possible. I wanted to put this on the list because many of us don’t understand that this can be something that occurs. We can increase our earnings. We can increase the amount of money that we take home every day. We can earn so much that we begin to earn as much in four days as we previously did in five days. So what have we just done? We’ve just earned the same amount of money that we were earning previously in five days, and we’ve done it in four days. So what that means is that we have the exact same amount of wealth coming into our bank account. Our income remains exactly the same and we have an extra day of freedom, potentially every week, because now we can begin to take that day off and there’s nothing that we’ve lost. We have the best of both worlds. We have the same amount of income we’re generating and we’re now doing it in four days. But of course, we have to believe that we can do that in order that we can find the ways that we can undertake, the methods that we can use, the things that we can do in order to prove ourselves. In order to achieve that outcome, we have to believe it’s possible first, in order to prove ourselves correct, in order for us to allow ourselves to prove ourselves correct, because that is a very, very, very important thing. Our belief systems, the beliefs that we have inside our head which may or may not be true, remember will consciously and subconsciously control our actions and therefore we will take action in ways that we’re not even cognizant of. That will subtly manifest those beliefs into reality. If we believe we can only earn a certain amount of money, then guess what? We will only ever earn a certain amount of money, because when we earn more than that, we’ll spend it, we’ll have a good time, we’ll have fun. If we earn less than that, we’ll work harder to get back up to the level that we were at previously, because that’s what we used to. Our brain is feeding us that baseline at all times. So, in order to become the person who earns more and has more freedom, we have to believe that we can do it in the first place. I know that that sounds like total woo-woo, but that is the first step. I guarantee you, because what that means is that you’ll now take positive action towards becoming the person who undertakes activities in their life which facilitates an increased amount of income. If you all of a sudden believe you’re the person you earn 200K, then guess what? If you earn less than that, you’re going to revert back to that 200K, because you’ll know that you have to up your game to get to that level. Now, how do we do that whenever we’re on a certain level of income? Well, we have to think about it like this Somebody somewhere has earned a million pounds an hour on this damn earth. Someone somewhere has earned a million pounds an hour, but but that is not most people who are listening to this podcast, maybe some more, maybe some more, I don’t know if you are. That’s amazing, okay, but somebody somewhere is a million pounds has no meaning, meaning to the universe whatsoever. It is just as much meaning as 10 pounds or 50 million pounds, right, it is a number, right? So in our heads, however, it is a huge amount of money to most of us, right? But the point I’m making is that, really, if we believe that it’s outside of a reach, then it always will be. How do we get to that level? We think about, simply, on a simple level, how we can enhance our input, every unit of input, by such a great amount that we attain one million pounds of output for every hour of input. How do we do that? Okay, we have to think about how we can enhance the system into which we put our time. We put one hour into the system that we have created. For most of us, that’s our jobs, that’s dentistry, that’s running our business, that’s the activities that we undertake in order to generate wealth. We put the hour into the system user skills. The output of the system is the money. Okay, so how do we get from one hour to 100 pounds, to one hour or whatever it is, to a million pounds in one hour? We have to look at the system and we have to believe that we can enhance it, because if we can’t, if we don’t believe that we can enhance it, then we’ll never take positive action towards that. And here’s the thing Even if you think a million pounds or 10 million pounds or 15 million pounds is something that can’t be achieved, you might as well tell yourself that it can, because then you’ll take positive action to begin to take steps towards earning more money. Because if you tell yourself that you can’t, then you definitely never will. At least, if you tell yourself you can, there’s a chance that you might do Boom. That is number one Believe in yourself. That’s the first thing that we got to grasp. Number two build value via descriptions of our treatment. Oh, my goodness, I love this one. It’s so, so, so important. Right, this is the thing that you can literally go to work tomorrow and begin to make more money. And it all is all related to the amount of value that we build for our patients how well we describe the treatment that we are giving them. Because oftentimes what I see as dentists when I’m coaching them on sales, when I’m coaching them on this stuff, is that the value that they give the patients is actually flipping, phenomenal. But their description of how good their treatment is is nowhere near as good as the value that they’re actually giving the patient. Therefore, the patient is unable to understand just quite how good that value is, because we can’t sell the patients like we sell the dentists. We can’t say we’re going to use Robert Dam. We can’t say we’re going to use sectional matrices. We can’t say we’re going to use X, y and Z composite and we’re going to layer it, we’re going to carve it so it looks exactly like a tooth. That stuff won’t work. When a patient. We have to be able to allow them to understand what we will create for them. Because here’s the thing the only time that they can ever see the value is when the treatment is already inside their mouth. Once we’ve already put it in there, then they see how beautiful our work is. How can we let them see it before we’ve undertaken the work? That comes through our language because we have to describe it to them first. Try this tomorrow when you’re patients, when you’re talking about restorations, when you’re talking about composite restorations, white restorations, when you’re describing the restoration for the patient, take the time to allow them to understand just how good this restoration is going to be. Use this description In order for me to do the best that I possibly can for this particular tooth. What I need to do for you is ensure that, once I’ve got the tooth nice and clean, that I have isolated the tooth from the rest of the mouth so that I know that the working field is dry and therefore the restoration that I will use gets the best possible seal. In order to do that, I’m going to use a special apparatus called Rubber Dam. Rubber Dam will allow me to ensure that my working field is dry and I can clearly visualize the tooth. What that means for you is that I can do the best job that I can. What I will then do is take my time to build the tooth up, layer by layer, in order to perfectly recreate the natural tooth that was once there. In order for me to put my hand in my heart and say that I did the best job for you, and so that I know that I can say to you at the end that we did everything that we possibly can to restore this tooth to its natural beauty. You don’t even have to use as many words as that. You can use some of those words and you will build value for the patient. Chuck this line in somewhere A restoration that will perfectly return the tooth to its natural shape, form and function and color. If you say that to the patient, that they will flip and light up their ears will just flip and stand on end. Honestly, perfectly resemble a natural tooth. Whenever we have completed this restoration, what this means for you is we have created something that will perfectly resemble a natural tooth. Say that. See how much value it builds for patients. You talk about this stuff all day long. I coach dentists on this. I teach them how they can make more money day to day. It’s like turning on a light bulb. Honestly, it’s literally like that. They can go to work tomorrow, do a better job for the patient, give them a better description of how the treatment works, how it will look at the end and the result that they can get. And guess what as well, the patient is willing to invest more because they now know that they’re getting a premium service. That is one of the best ways that you can earn more money pretty much straight away. Number three offer all treatment options. How often do we do this as dentists, especially dentists on the NHS? We just say we’re going to do an NHS fill-in. We maybe skirt over the fact that there’s the private option, but we never talk about it in full detail. So what do I mean by that? If you think about it, if you say NHS option to a patient, what do they hear? They hear perfectly functional and adequate. If you say private to a patient, what they hear is a little bit fancy over the top, ostentatious and unnecessary. That’s what those words mean to the patient, whereas we, as dentists, know that in actual reality, in certain instances, the private option would mean that we got a superior result for this tooth because it would mean that we can do a better job. The patient doesn’t see that. So what I would do is I would drop the word NHS versus private, I would merely describe the treatment and I would say a black amalgam restoration versus a white composite restoration. When we do that, uptake on our work, uptake on the option, which happens to be private, actually increases a lot. We can tell the patient it’s private at any time, and we will do, and that’s fine. We have to tell them whenever it gets to the point where we are Sign in the treatment plan and that’s cool, okay. But what I mean is, if you lead with that, then what it means is that they hear things and Interpret things in certain ways that we don’t intend. Therefore, we’re better off just leading with what the treatment actually is, rather than making it NHS versus private. I promise you that conversation goes way easier. There’s way more to that Exactly the sort of stuff that it coach people on whenever it comes to sales. This is the amazing things that you can use in order to increase your revenue tomorrow. Number four Get a decent accountant. I See so many accountants out there who are quite happy just to go through the motions whenever you come to them as a client. There’s two types of accountant. There’s the proactive ones and there’s a reactive ones. The reactive ones will just fill your tax returns and not Offer you any information on how you can improve your tax position in order that you can save more money every year. The proactive ones might be a little bit more of an investment, but you’ll probably make that back quite easily from a tax saving. It’s about finding an accountant who will be able to give you a little bit of information On how you can become more tax efficient and you’ll probably make a huge saving. Remember, it’s exactly the same amount of effort that you’re putting into your life and you’re getting more input Because the system, the part in between, is more efficient. That’s what we’re doing. Part of the system that manages our money is our accountant, because they are Responsible for figuring out how much tax we owe, when we owe less tax, rightfully and legally, and what it means is we save more money. We didn’t work any more hours, however, we saved more money, and what that means is we’ve earned more. Number five build skills. This is a pretty obvious one. If you build your skills, if you do better work, if you do more Elaborate work as a dentist, if you do more specialized work, naturally we’re gonna earn more money most of the time, and it sounds pretty obvious. But at the same time, if we knew this and we really took it home, we’d spend a lot more of our income on courses, because we could take that knowledge, take it into practice, do better work, ask for a higher investment, because we’re giving the patient more value and hence earn more money. And by the way, I’m not saying that we should do all of these things Just so that we can buy a Lambo, buy yacht and do all this crazy stuff. What I’m trying to say is that, actually, if you can earn a little more and therefore Use it to have an extra day off a week, then what we’ve done is we’ve given everybody the ability to earn just as much money and more as they did previously, and They’ve also got an extra day of freedom for the rest of their life. Now, if anybody knows anything about retirement, you’ll know that you have to wait to 55 or 65 in order to have your freedom, in Order to get returns from your growth assets, in order to get returns from your ISA and your pension right, and talking about Giving you more freedom today so you can have the Holy Grail, which is as much youth as you possibly can have, and Financial freedom, or at least getting as close to that, that position as possible. This is how, and that’s why earning more money is totally underrated, in my view. Number six attain residual income. We talked about this a little bit earlier. Let’s touch upon it again. Most people make the mistake of using their pension or the ISA as something, investing in their pension or ISA on the premise that they can use it as residual incomes actually not the case. Really, if you want to Obtain residual income, we need to either a have a business so that we can create the business, create the system. A business is a system and Collection of systems and processes that deliver value for others. When we have created that system, process, we get other people to run it for us, and Then we take a little bit of a margin off the top every single time. That is Residual income. However, we have to build the flip and business in the first place, and anybody’s built a business knows is really, really, really, really, really not easy, but it is the only real way that you can attain what we talked about cash flow assets, or how are? Well, the best example of cash flow assets are houses and property. So what that means is that you can take some of this wealth that you’ve created, put down a deposit on a bidder, let Rent it out to someone else, have a nice little, tidy, consistent income coming in every month. Will that be enough very soon to be able to retire from your job? Probably not. Probably going to take many years. It’s certainly a tried and tested method of attaining residual income that many people have used over many decades. Typically, yields will be about 7 or 8%, so you’re really going to need to have a lot of money put down before you can attain that level. You can attain any sort of income which is going to replace the level of remuneration that you’re going to attain from dentistry, but it’s a path and it’s a method and it’s a well, well trodden path. There’s lots of people that can mentor you and help you on that. One. Number seven spending reviews. What is a spending review? Spending review is having some sort of idea about how much money is coming into your accounts and how much money is going out every month. What you’ll often find is that quite frequently, people have direct debits that they’ve forgotten about and those direct debits have accumulated over time and what it means is when I was spending on things that we forgot about or we signed up too many years ago. I guarantee if you run through your accounts, you’ll probably find a few of those. The record that I’ve ever seen is somebody who poured over their accounts and found that they were spending £1,000 a month off direct debits money that they’d forgotten about. That is flipping insane. I hope that no one is to that level. If you are only love, it’s fine. This is the power of reviewing your accounts and having a spending review. Even if you’re not quite to that level, there’ll definitely be one or two things in there, things that we’re just wasting money on, that we don’t use. So what have we just done? We’ve just earned more money because we’ve preserved more of our money, because we’re not spending it on unnecessary things. If anybody wants a really great book which will help you do that, I recommend KAKABO. That’s K-A-K-E-I-B-O, the Japanese art of budgeting, although I prefer the word spending review, because spending review means that we’re just keeping an eye on how much money is going out. Budgeting is a word that is austerity. It’s restrictive. I just don’t really like it. It’s a bit negative. So spending review is my preferred term. Number eight think about the patient journey from start to finish. What I mean by that is just have a real idea of what is being said to that person and done to that person at every single point that they enter your dental practice, not just when they’re in the dental surgery, because that’s only the part. You see what is the receptionist saying, what is he or she saying to that person? That may warm them up or cool them down. When it comes to the investing process, these things can be key. If your receptionist has an attitude, then what it means is all the good work in the surgery might be going undone. Or even if they just don’t get the patient to book back in consistently, these are huge things. Even if a patient wants to think about a treatment plan, I would always book them back for a 10-minute review. What that means is that you can discuss with them what their thoughts are. If you let them go back out into, either chances or you’ll never see them again, what’s wrong with saying to a patient okay, totally hear you that you might like some time to think about it. Let’s get you back in the chair next week for about 10 minutes and what we’ll do is we’ll sit down I’d love to hear your thoughts at that point and we’ll go from there. Boom, that really nice way to get them back in the chair so that you can go over the treatment plan. If they want some more time to think about it or they’re not prepared to explain why they are not willing to proceed. On the day Now, when you get them back, then what it means is you have the opportunity to speak to them again and, of course, close the deal, not to use that terminology, not to use that Americanized terminology, but you get what I mean. You get them to sign and then what it means is they can return as a patient to your practice, which is cool, which is the whole point, because you’ve discussed the treatment plan, you’ve created the treatment plan, you’ve done the hard work. Now we want to get them back so that they can we can serve them and so that they can get the work that they need, so that they can have a healthy mouth, which, of course, as well as that, means that they have to invest in their mouth time, wise and financially. Number nine manage your diary. See this all the time in dental practice. We can manage our diary. We can be more productive, serve the patient more effectively and by default, and achieve a higher level of remuneration. What do I mean by that? I think that there should only be a certain amount of time, that’s, treatment time every single day, because you know, if you’ve got five root canals in a row, your brain is like jelly, like come on. How can you ever be as productive as what you were at the start of the day whenever you’re on your fifth one or your fourth one is crazy, right. So what you might want to do is have a certain amount of time every day in which you’re doing treatment that grosses over a thousand pounds. Keep that to like two hours a day. Then on top of that, have some smaller treatments that maybe gross less than that and some checkups that are dotted in there as well. So there’s a great set of rules that mean that the receptionists can follow that blueprint and then therefore not book way too many people, because obviously, if left to their own devices, that sometimes happens. We get fatigued, we’re unable to do our job to the highest standard and then inevitably what that means is that we’re not able to serve the patients at the level that we should. We’re not able to do the treatment that we’re going to do. That’s going to be a greater likelihood of the treatment not going to plan, therefore us having to return the patient’s investment or issues of that nature. So super important thing to do you will make more money, you’ll do a better job for the patient and you’ll have a better work life balance. You’ll have all of those things because you don’t feel as fatigued at the end of the day. You’ll have a little bit more downtime. Number 11. Sell your knowledge. Every single person on the face of this earth, I am convinced, has information in their head that is of value to others. I know that for a fact. It’s just allowing others to understand what it is that they have contained within them that others will benefit from. But when you find it which it always is there, and you pointed out someone, then at that point it’s just about having the belief to approach someone else and say, hey, I can help you. Think about it. Every single one of us did A-level biology. Every single one of us did A-level chemistry. What’s the stop us being tutors for people who want to learn A-level biology and A-level chemistry? We could do that. You could say you could have like 10 kids, you could charge them 20 quid ahead for two hours and you can make a decent amount of money 200 quid for two hours work. You might want to do more, you might want to do less. Maybe some of you are thinking actually I can learn more than that. I don’t know. That’s fine, I don’t know and that’s cool. What I’m saying is that every single one of us has something outside of dentistry that we can teach and also here’s the best bit that contained within dentistry. We also have knowledge that we can teach to others as well and, if anything, that knowledge is more powerful. Think about it you are a master of root canals, then what is to stop you approaching somebody else who is yet to reach that level of mastery and saying listen, I’ll teach you everything I know. We’ll work together over three months. We’ll sit down one hour a week. If you need me. I’ll also be on standby support for your case, as you can mess me anytime you like and what I will do for you is give you every single piece of information inside this head so that you get as close to being the master as you possibly can over the next three months. And what that means for you is you are propelled at a velocity that you could have never imagined before possible. To get to that point, the point, that which you seek to attain, your credible, that level of credibility and that level of status, you are someone who wants to become presuming that there is someone who wants to become a master of root canals as well. You could say that someone and you could say listen, we’ll work together three months. I will sit with you every single week, we’ll go through your cases and I’ll also give you as much help as you need around your job. I’ll be there when you need me and I’ll support you in every single way that I can so that you know what I know. You know everything in this head after three months. And for that the investment is £1000. That would make total sense. That is actually a really good deal for somebody who wishes to learn about root canals. They can learn somebody’s really good, if anything. It’s your duty to go there and teach them that information, they’ll probably be able to make a thought more than a thousand pounds back over the course of that three months because of all the stuff that you’ll teach them and how much more work they can more work they can take on and how much better their work would be. If anything. It’s your duty to help them because they’ll learn so much faster, which is an incredible thing. That’s a really good thing. That is a net positive thing on this earth. We need to remove this whole illusion that when we approach someone and we said to them, listen, I can give you this stuff and obviously, naturally, there’s going to be an investment saying that I’m giving you so much of my time. We need to remove the whole illusion that that is a bad thing or that is something that we’re ever so British about or we’re afraid to do. There’s a reason why two people shake hands at the end of the deal. The shake hands at the end of a deal and that is because both people win. It’s a positive some relationship, not a zero. Some relationship, zero, some being for every unit, for every amount you win, for every measurable denomination that you win, someone else loses by that same equivalent amount. So they cancel each other out. Therefore, a zero, some game. Actually, you both win there, because the first person who’s teaching naturally gets remunerated and also improves and enhances their abilities to teach other people. The second person, the person who is the mentee, is becoming better at root canal and also understanding how they can serve their patient to a higher standard, gives them greater value and therefore become more adequately remunerated. Therefore, both people win. It is a good thing. And here’s the thing you might think yourself. Well, I’m not a specialist root canals and I don’t really fancy being a mentor to A level students who want to understand chemistry and biology. And that’s fine. Teach someone about what it took for you to get to where you are. Even if you’re an associate who’s just started a year into a job, there’ll be students out there who want to understand what associate life is like. It’s just a case of finding them, saying you’ll help them and agreeing some sort of an investment. What have you just done? You’ve monetized the knowledge inside your head. Anybody can do this. It’s just about, number one, identifying what it is. Number two, identifying who you will help and then, number three, having the cojones to approach them and say, listen, I can teach you, I can help you. I promise you I will get you to where you need to be, and for that the investment is x, y and z. When you shake hands at the end, that is a good thing. That is a positive sum game. That is not in any way something that we should be behind the door about doing, because it’s a helpful thing. Now, number 11 is to get more leverage in your life. When I say leverage, what I mean is focusing on that system that occurs or that sits between the input and the output. Remember, for every unit of input, you want the most output you possibly can. For every unit of input, for every, for every hour of input into the system, the system being your skills, your traits, your business, your assets, wealth, lots of things. There’s lots of things in this melting pot in between that amplify our level of input to attain a given output. Here’s the thing most of us, if you ask most people how they earn more money, what they’ll say is they’ll say well, I’ve got to work more hours, as in, I’ve got, I’ll put more inputs into the system and then therefore enhance the outputs. What about if we spent time enhancing the system and enhancing it? Enhancing it, enhancing it. So even just a little bit of input would give us just as much output as all that time that we were planning to put into it initially. So what have we just done? The difference between the input and the output in a system is the leverage, that’s how much it’s magnified by and one of my other podcasts you remember I talked there’s three basic ways that you can increase your leverage. Number one is to have other people work for you and work with you on whatever it is that you’re trying to achieve. Number two is to use money and invest it. That takes a long time, as we’ve already established. Number three is automation systems and processes and also enhancing our skills. So the more we work on the system, we enhance the lever. The lever that gives us the output for every unit of input we put in is the more money we can earn, because one of the outputs can be remuneration. There’s many other outputs that we can be seeking to attain in life, but let’s say that it is money, and that’s fine to want to have a more remuneration, because, of course, what it means is that we have more time in our lives, because we can use that extra earnings, as previously stated to be able to buy back more of our free time, which the whole entire purpose of that, and why we should not be ashamed when we want to say we earn a little, we want to earn a little more. Naturally, if we want to just chase completely blind and endless numbers, that’s an unhealthy thing as well, but most of us have a long way to go before we hit that stage. Most of us could do a little bit of extra money, because what it will mean is we will have more time to ourselves. Ask yourself this here’s the litmus test to understand if earning a little bit more will help you in your life. Think about it. What would your ideal relationship be with work? Just take two seconds to crystallize that in your head. Would you like to be able to work three days a week instead of five days a week? Whatever it is that you’re presently working, would you like to decrease that amount of time? If the answer is yes, then there is a gap between the life that you have and the life that you want. If most people when I ask most people, why don’t you bridge that gap, why don’t you make the changes necessary to remove that gap? Most people will say is because I’m used to a certain level of income. Right, think about it like this. If so, in other words, if we think about it like this if someone was to earn the same amount of income as they presently have and do it in the number of days they wish to work not, they presently work then what that means is that actually, more money would help them, because when they earned more, they could earn the same level of income and in less days. So, therefore, more money would help them, right? But we often never think about these things. So, if you’re earning 200K a year and you’re doing it in five days a week, when you earn 200K a year and do it in three days a week, you literally have the best of both worlds, because you now work three days a week and earn 200 grand. So therefore, therefore, you have two extra days of freedom, not in 30 years, like your investment portfolio would give you, but right here, right now, today. And that’s because you took some time to focus on how you could enhance the system, the skills, abilities, traits and knowledge that you have and, of course, your ability to sell them to others, because you have to be good at describing the value. Finally, 11.5,. What is 11.5? 11.5 is the final method that we can use to increase our earnings on this list, and the reason that it’s 0.5 is because actually, technically speaking, it’s part of 11, because 11 was increase your leverage. 11.5 is grow a social media following. Social media followings are a form of leverage. If you can put a little bit of what you love out there on social media, consistently teach people and give them value, rather than just showing off, rather than just putting out content, which serves a image that we’re trying to create of ourselves more than anything else, but not do that and give people things that are helpful, or teach them things or educate them, or inspire them and ignite them, then people will start to follow you. It’s about giving value. When people see value, they will follow you. When we increase how many people are following us, then naturally some of those will be people who are potentially are patients. They’ll see your work and they will come to us and therefore, what it will mean is that we have more demand. More demand, and the same one as supply, means, naturally, remuneration levels go up, and that comes through consistently putting out content online, which will mean that we grow your following. We get the followers, we have the social media presence and therefore we increase your levels of remuneration. And here’s the thing a lot of people think that when you start the following, that you should expect to get a lot of followers very fast. Actually, see it like this. See it as you gaining the skills of a content creator, which are incredibly powerful the ability to speak and create videos and creates content that is engaging, or the meta skills of 2023. We have to put the effort in, just like every other skill, in order to get good at that. We will not get the results unless we put in the reps, just like when we go to the gym right, what are the reps? The reps are consistently putting stuff out there. When we get those skills, even if our followers then went to zero at that point, we could get them back pretty fast because we now know how to create content, which is a really, really, really unbelievable skill to have, and it will literally put more money in your pocket, especially in 2023, because we’re moving ever more and more to a more digital era. People think social media is saturated. It’s far from it. It’s still flipping, growing. There is opportunities abundant on there, and I promise you. That is why I included it on this list of 11.5 ways that you can earn more money and increase the level of immunization. You have not to have the Lambo, not to have the mega yacht Well, maybe you can if you want to but mainly just so that you can have more freedom in your life. That’s about all for today. I’ll see you on the next episode.