The good, the bad, and the perplexing – business relationships over the past year

The amount of information I’ve learned throughout the process of buying and running a business is laughable. For many reasons.   1) We thought we knew what we were doing before we got started – ha. 2) Who knew that a dental practice manager needs to know how many Cubic Feet per Minute (CFM) an HVAC unit needs to output per square foot of office space? – I didn’t 3) Some people are truly kind, good-hearted, and want to see you succeed. Other’s could care less once you no longer matter to their bottom line. …   – And the most important thing I’ve learned – …   9672) Relationships are the most important key to long-term success (caveats: we’ve been in business for just over 4 months now and this is an assumption, but I don’t foresee a scenario where this isn’t true).   Customers, business partners, employees, your […]

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Beyond the burnout and why I haven’t posted in 3 months

Man, we had a good thing going back there. There were the 5-am workouts, the 9-5, the family, our new business, and over 100 posts without a serious break. For about 9 months I had this thing rocking on all cylinders, was saying things like “Sleep is for the weak,” getting a ton of things done, and actually being a good husband/dad (unconfirmed reports). I bet you can guess what happened in October, though???   And although it pains me to admit this weakness, a weakness it was: I. Burnt. Out.    For me, burnout looked like sleeping in until 6, the regular 9-5, all family time after work, and 15-30 minutes on the business in the evenings. For workouts, I would squeeze 12 minutes of running into my day either picking up Clara from school or literally running to the drugstore. I did 100 burpees for time. I repped […]

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“Pay them well and keep them forever”

(Disclaimer – we own and operate a dental practice. That’s loosely what the below article is about…)   This was the mantra one advisor kept coming back to when Monica and I would ask questions about staff development, turnover, and longevity. How do we find good people? What makes them stay? How can we find out if an employee may be bad, or worse – a cancer – to the team??   This advisor kept coming back to, “Pay them well and keep them forever.”   I narrowly thought he was only referring to the employee’s wage, but over time I started to see how this mantra and attitude permeates into much more than how much an employee earns.     We’ve been in the process of hiring our newest team member for the past couple of months and I’m starting to see the truth in the saying that ‘good […]

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Cathartic reflections on an anxiety riddled 7-months

I wrote what’s below at 10:00 pm on day-2 of our recent beach vacation (also 2 days after completing the acquisition of MFD). I went back-and-forth on whether or not to publish this article. Perhaps it would be best served as just a personal exercise for me getting some of these thoughts out of my head and onto the page, but… Anxiety has been something I’ve dealt with indirectly for a decent amount of time, and although this was my first real bout, many people we know have gone toe-to-toe with the anxiety foe at one time or another. If you can relate, maybe this will speak to you. If not, I’ll be back to the financial posts and uplifting (attempting) humorous posts next week. As always, thanks for being here!   -Mike   (ps- it takes a couple paragraphs for me to find some traction. Bear with me)   […]

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Well… We bought a dental practice!!! (“The Project”)

You may be thinking to yourself, “Wait. He’s not a dentist…?”   Correct you are. My wife, on the other hand – 100% Doctor of Dental Surgery (DDS).   I’m writing this article in June of 2017, and as we near our closing date (June 30, 2017) on “the practice” (hereinafter referred to as Monfredi Family Dental – I’ve read so many documents written by lawyers lately…), I cannot wait to share much of what we’ve been through in the past 7-ish months (we started the process for buying this practice in December 2016).   I’ve heard some people that I have great respect for say recently, “…Getting an MBA can be a huge waste of time and money. You should just start a business. At least that way you have a chance to make your money back…”   Well. We indirectly took them up on that offer.   And, although […]

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