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Dentists Who Invest

Successful Squats with Dr. Bobby Bhandal

Dr. James: 

All right, we’re going to try this again, round two of this podcast with myself and Dr Bobby, with tonight’s intended Zoom recording on the Dentistry Invest Facebook group. I’m going to look forward to this one because Dr Bobby has just entered the room. Bobby, can you hear me? Hello, yeah.

Dr. Bobby: 

I can hear you man.

Dr. James: 

Hey, my man, we had a bit of a false start just then, the Dr Bobby and I. I was waiting for Bobby to join the room, but that invite just didn’t quite materialize at Bobby’s end. So technical glitches with the Facebook side of things, with the Facebook backend, but we’re all good. We’ve got Bobby in the house tonight, here once again, to talk about successful squats, and you know what we’re going to do differently, differently this night. We’re going to get down and dirty with the numbers, man, like how much you can actually achieve whenever it comes to open a new dental practice, a new squat, so to speak, and there’s a lot of belief, shattering numbers that are going to be in there, because people think that you can only hit profitability past a certain point, past a certain number of years that you’ve invested into your clinic, that certain point, past a certain number of years that you’ve invested into your clinic, that’s just not flipping, true. But anyway, more on that in just a second. How are you, bobby? What’s fresh?

Dr. Bobby: 

Yeah, I’m all good, I’m all good. Thanks, yeah, just another busy start to the week. Bank holiday is over, back in the practice and fine start Nice one Hashtag hustling.

Dr. James: 

By the way, is that the logo of your practice? Yeah yeah, I see, nice one. What does that say? Because it’s obviously spun round, it’s.

Dr. Bobby: 

Avenue Dental. It’s just the name of the practice Avenue Dental.

Dr. James: 

Okay, a little bit of product placement right there. Actually, you know what? I can’t accuse you of too much there, because I just got this cap today and I thought it would be very appropriate.

Dr. Bobby: 

I haven’t got quite that spot, but the girls in the practice, they know exactly where to position the camera to make it all look really fancy and pretty. They’ve nailed it, but they won’t tell me how to do it.

Dr. James: 

Nice work, bobby’s team. Nice work, bobby’s team. Nice work, bobby’s team. They’re like the pr people for bobby, amazing. Well anyway, bobby, you know what. You’ve been on the podcast a few times and you’ve been on the facebook group a few times and quite a few people got to know you through that, which is amazing. The main thing that bobby is known for is his ability to get squats up and running super fast and make them super profitable ASAP. And I know that you and I, bobby, we were chatting just before you came on Dennis, who invests Facebook group tonight about some of the numbers that you achieved. So, within whatever you can consider your comfort zone to be, if you’re happy to share those numbers, this is totally cool. We’re aiming to inspire people tonight. We’re aiming to get people thinking bigger and show them what’s possible.

Dr. Bobby: 

Yeah, 100% I’m happy to share. You know that’s what it’s all about. You know, one of the biggest issues with people setting up squads is all that fear and that belief of being told that you can’t do well and it’s going to take you years and years and years to get a return on your investment. And it’s just simply not true. It is not true whatsoever. You know, providing you’ve got the right strategy behind you and you put the work in, you can make a good deal of money really, really quickly. You know, uh, providing you’re doing all the right things. Um, you know, in our practice, you know, within one year of a single surgery we were, um, we’re at a point where we’re turning over half a million pounds. Um, obviously that’s not profit, that’s turnover, but still from a standing, um, you know, from a point of zero to something within one year, uh, that’s what’s achievable.

Dr. Bobby: 

And there’s people out there that do even way, way, way more than that, way more than that. Um, you know, I was on a call last night with one of the girls who’s done the training with me and she’s just opened a squat a few weeks ago Incredible story. She’s got three kids, she’s got a newborn. She’s eight months old. She’s set up this squat and they’ve opened with about 350 patients registered. That is insane. Like she’s given up what giving up her associate job within the first month of opening that that isn’t. That is insane. And then there’s people out there that tell you you cannot do this or it will take you forever, like how, um, you know, it’s just, it’s just a load of rubbish. There’s so much, so much nonsense out there.

Dr. James: 

Well, I think, you know, with a lot of this stuff, people just speak from experience, don’t they? And if you listen to one person, they’re going to tell you about their experience opening their one squat right, which may or may not be representative of how that journey looks and what’s achievable, whereas if you talk to loads of people and we share these inspirational stories which show what can be done and what can be achieved, given that you talk to loads of squat practice owners well then, that shows us just really where we can go with it and where we can take it and what sort of returns you can achieve. Not that it’s all about money, it’s definitely not, but it is about freedom, it is about making a profitable business.

Dr. James: 

We have to talk about it, you know, and I really hate that there’s a stigma around being able to talk about this stuff sometimes, especially as dentists, given that it is literally the lifeblood of our business and probably one of the quickest ways you can get back to have more balance and free time in your life why, why?

Dr. Bobby: 

why do most dentists start a squat? You know, 100 is because they want to. Number one take control. They’re not happy where they are. Number two is because they want more financial freedom. And number three, they they want more money. And you know there’s no point being around the bush. Everybody wants to be more financially secure and a practice is one avenue that will get you there and it’s twofold. So you’ve got cash flow but you build equity. So you know you build in value in your practice as well as whatever you’re going to be earning in that practice cash flow and that you can take out and invest elsewhere or into growing your own practice or grow more practices in the future anyway. Um, that is why most people set up a practice and you know, ultimately it’s really really hard work. You know setting up a practice from scratch is not the easiest thing to do in the world, and doing it well as well. And you know why shouldn’t you have the financial rewards that come with that if you’re working that hard?

Dr. James: 

hell, yeah, yeah, man. So tell me this right In your position as a mentor to people who are setting up dental practices, you get to see not just your own journey, but you get to see their journey as well. So you get a lot of context, are you with me? You get to see the ones that it goes well for and you get to see the ones that it goes super well for right.

Dr. James: 

Common characteristics between the people who really, really smash their squat dental practice out of the park in their first year? Why are they able to achieve it, or is there some common things that they do, or do you reckon a big chance of it?

Dr. Bobby: 

the big part of it is luck I don’t think much of it is to luck, to be honest with you.

Dr. Bobby: 

Um, it is purely, purely hunger, it is work ethic, it is drive, is is that is, is your why, strong enough for you to go and want to do it, no matter what you know, no matter what problem that comes, no matter what obstacle that comes in front of you. The ones that succeed the best and, do you know, do the best is the ones that have that, that hunger, that nothing is going to stop me. I’m going to do this. I don’t care whatever comes in my way. It will get tough, but I’ll find people that will help me out of those problems. I’m going to make it happen either way. They’re the ones who do super, super well. The ones who maybe don’t do as well or a little bit slower tend to be the ones who have a little bit more fear and they kind of play into that a little bit more. You know they’re sitting on the fence, they have a lot of self-doubt and you know even part of my job is helping them overcome that.

Dr. James: 

Yeah, fear is a huge thing, right, and the amount of fear we experience is often disproportionate to what may actually transpire. If we just go and do the thing that we’re scared of, I always find our mind as human beings blows out out of proportion big time, and sometimes the fear listening to the fear actually keeps us in a fearful state because we’re scared of doing the thing that’s going to bust us out of that fear zone. And it sounds airy-fairy, wishy-washy to some people, but actually these things are super important in business. Oh yeah, when you set up a squat, mindset is everything to some people, but actually these things are super important in business.

Dr. Bobby: 

Oh yeah, when you set up a squat, mindset is everything. Mindset is absolutely everything you know. If you let that fear get hold of you, you’re, you know, drying yourself in a bucket and you won’t go anywhere. Um, you know, it’s so, so, so important. You’ve got to wrap your head around that. Um, and it’s almost like you know.

Dr. Bobby: 

The more problems you come into early, it’s actually the better for you, because the better you learn to deal with them and you can overcome them, and it makes you stronger, it makes you more resilient, and that’s what you need as a practitioner. You need a lot of resilience, and that fuels you as well. So the more you have of that, it’s almost like you become immune to it. You have a period when you’re setting up right at the start and no matter how much you want to help people, everybody will still go through problems, problem, problem, problem.

Dr. Bobby: 

But the ones who do really well are the ones that literally just become resistant to it in the end, and that’s what happened with me. It was just like you go through six months and it’s like hell, and it’s like what. What can literally happen next? And then you get to a point where actually know what, just bring it, because, whatever it is, it probably can’t be worse than the last thing that happened anyway. So whatever it is, I’m going to deal with it and I’m going to go out and smash it that’s the gift in running a business man, how resilient it makes you mentally.

Dr. James: 

And then when you step outside of that someone, step outside of the world of business and come back to normal life, actually appreciate it so much more because you’re like, wow, okay, now I know what I can really handle and it’s up here and down here feels flipping amazing. You actually appreciate the day-to-day even more whenever you push yourself like that, if you ask me. But anyway, different theories and philosophies on that one yeah, let’s go back.

Dr. Bobby: 

If you ask any squat owners 12 months after they’ve been open the kind of person that they are a year before they opened and I can tell you now the difference is like that, it’s not like this, it is just everything it grows you so much as a person, man, which is a really good thing.

Dr. James: 

Let’s go back to that girl you were just talking about a second ago, the one with 350 patients on opening day. How did you pull that off?

Dr. Bobby: 

uh, lots and lots of hard work. So there’s lots of different things that went into the background. So pre-marketing strategy, massive social media strategy, branding, um, local marketing, community networking, um, social media, paid marketing so it’s a combination of of everything put together and ultimately it was just building a story about exactly what they’re doing, what they’re trying to build, what they want to achieve and who they are. And getting that out there to the world before they opened and this is what I’ve seen with some of the practices that don’t do very well initially or do a lot slower, is because they really fail at this part here they don’t put nowhere near enough effort and momentum into the beginning stage, where the you know, before you open, you have nothing, you’ve got nothing to lose, and that’s the point where you’ve got to really take time and start to build your strategy.

Dr. Bobby: 

Figure out exactly who do you want in your practice, what is your practice, what do you stand for, what’s your branding, what’s your beliefs, um, what type of work do you want to be doing? And then build your story around that and put all that into your marketing, and then your marketing is everything. So that’s, you know, paid marketing, non-paid marketing, organic, uh, local community and you know paid marketing, non paid marketing, organic local community, and you know it’s really really simple when you think about it. It’s just putting your face, your brand, your story in as many places as possible where the audience that you want is. That is it.

Dr. James: 

Nice one, mate. Well, listen, thank you so much for sharing and what a privileged position that you’re in that you get to see lots of people on their squat journey so you can compare and contrast and you can be like this thing worked for this person, this thing not so much for this person. So we’ve got to mix it up and do this. It gives you so much context when you can see that journey so many times across the board with lots of different people, so that’s flipping awesome.

Dr. James: 

I’m sure there’s a bag load of knowledge on in that head, probably a lot more than what we’ve got time for today, because I really like to keep these facebook lives to like 20 minutes or so powerful, impactful, punchy and, uh, engaging and what have you? Nice and concise. So, on that very note, I’m curious just before we wrap up, bobby, if you could talk to somebody out there in the audience that potentially is listening and they’re like should I start a squat? Should I not start a squat? Is it for me? Should this be something that I do, or is it for somebody else? What would you say to those people? What words of wisdom can you offer those people?

Dr. Bobby: 

If it’s something that you thought about, then do it. It is simple Don’t linger. You know it’s not for everybody definitely not but if it’s something that’s been in the back of your mind and you thought about it and it’s something that you seriously considered, then just do it. Don’t waste time. You know, one of the biggest things I’ll say in life is do not waste time. Time waits for no man. You will find yourself sat there five years from now in the exact same position if you didn’t take action. Um, it’s simple take action.

Dr. James: 

that that is it. It’s huge, right, it’s actually massive. It’s it’s so simple, but it is so effective. And I think that to myself I’m 32 now and I’m like, wow, where could I potentially have got to if I just would have taken more action back in the day when I was younger? Because I wasn’t like that and I just kind of thought to myself like, hey, I’ll start a dental practice or I’ll start this business whenever I’ve got X amount of experience. How much was X amount of experience? It was a little bit of this. I don’t even really know. I just made up this arbitrary number.

Dr. James: 

Of course, it’s not for everybody, do you know what I mean? But I think the I think part of the wisdom and what you’re saying is is to remember that when we just simply start these things, that’s when we learn the most and that’s when we give ourselves the greatest chance of succeeding. Even though the first one doesn’t go so well, you take the learnings into the second one and you keep going and keep going and keep going. The mindset you talked about just a second ago, it gives you your push, push and drive to do all this stuff. Then what it means is you’re either winning or you’re learning, which is a really cool thing. That’s 100%.

Dr. Bobby: 

I had the idea to open the spot about three years before I actually did it and if I look back at exactly like what you just said, you know where would I be if I took that action three years ago, when I was stuck in my comfort zone, thinking that life is good right now. And you know, I know for a fact I would be sat on a practice that’s worth well over a million pounds right now. You know the age of 34 if I’d done that back then. But who knows? You know I can’t say that for sure, but I would have been quicker into the journey than what it would have been now this is it.

Dr. James: 

And you know what, whatever happens on this earth, man, we just want to leave it with no flipping regrets, and we left it all on the flipping table, left it all on the dance floor and on that very note, bobby, we’re gonna wrap up around about now, just before we go. If anybody listening tonight wants to get in touch with you, how are they best off doing that?

Dr. Bobby: 

yeah, either you can drop me a message on facebook, uh, or you can reach out on instagram, drbendel top stuff, bobby.

Dr. James: 

All right, well, listen, mate. Always good to see you. Let’s not be strangers. I’m looking forward to having you back on the platform very soon. We’ll make more content. Keep inspiring people. What you’re doing is amazing. I’m sure a lot of people will be a lot of thanks for getting their dental practices off the ground, and you know it’s the most exciting thing about you. I know that you’re just getting started as well yeah, 100 early days hey, hey, that’s what we like to hear top stuff.

Dr. James: 

I love the energy. All right, cool bro, listen. Really nice to chat, as always. Bob, good to see everybody in the audience tonight, and the Dentists who Invest Facebook group. We’ll be back, same time, same place next week with another live. I’m looking forward to see everybody there. In the meantime, much love, hope. Everybody has an incredible Tuesday and we shall speak super soon, in a bit, take care.

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