What if some of the best decisions you’ll ever make in your career come from learning which mistakes not to repeat?
After more than three decades in practice, I’ve made plenty of decisions that worked out — and plenty that taught me expensive lessons. In this Five Minute Friday, I’m breaking down five of the biggest mistakes I’ve made throughout my career so you can hopefully avoid learning some of these lessons the hard way.
💬 Quotes
“Life is about making three great financial moves and avoiding that one disastrous one.”
— Dr. Glenn Krieger, sharing advice from Michael Cohen
“If you’re chasing money, that’s the wrong reason to do something.”
— Dr. Glenn Krieger
🎯 Key Takeaways
- Intro: The five biggest mistakes I’ve made in my career (00:32)
- A mentor’s lesson: Make great financial moves and avoid the disastrous one (01:18)
- Mistake #1: Taking unnecessary investment risks when you’re young (02:11)
- Why capital preservation matters early in your career (02:40)
- Mistake #2: Bringing an associate into your practice too soon (03:08)
- Why adding an associate can change a practice you already love (03:25)
- Mistake #3: Choosing the wrong reasons to enter a partnership (04:54)
- Why strong relationships matter when partnerships get difficult (05:25)
- Mistake #4: Expanding into additional locations for the wrong reasons (06:04)
- The hidden responsibilities that come with opening another practice (06:32)
- Why organizational support changes the satellite-office equation (07:17)
- Mistake #5: Not specializing sooner (07:36)
- Why becoming an expert in orthodontics ultimately appealed to me (08:17)
- Why I still wouldn’t erase my years in restorative dentistry (09:20)
- Final takeaway: Learn from my mistakes without having to repeat them (09:44)
🟦 Additional Resources
today. But that doesn’t mean you have to make every mistake I made to learn the same lessons.
Protect your capital. Think carefully before bringing in an associate. Choose partners for reasons that will survive the difficult times. Don’t expand simply because you think another location means more money. And above all, think seriously about what kind of career and life you actually want to build.
If you see me at an upcoming meeting, come say hi, pick my brain, and let’s talk. And if you’re interested in our upcoming Airway & Sleep meeting, visit opairway.com for more information.
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