The Impact of Underselling Yourself: Mindset, Discounts, and Confidence

Because You're Worth It - this episode is your L'Oréal moment ;-) How to take pride in what you charge. https://youtu.be/TeW6Jj0OQY8 Watch AJ006 on Youtube Stop Diagnosing wallets and giving discounts, these negative practices hurt our business and highlight a mindset issue. In this 'Ask Jaz' episode I discussed all the reasons why you need to STOP underselling yourself, starting from a lesson me and my wife learned in Singapore.  I explored common reasons behind this trend, such as fear of rejection and a lack of confidence, particularly among new practitioners. I shared my perspective, emphasizing the importance of building confidence through continual learning and practical experience. I also discussed the concept of 'neuro-fiscal drag' – the phenomenon where a figure in your mind gets substantially reduced by the time it comes out of your mouth. This mindset often leads to dentists undercharging for their services. It's crucial for dental professionals to take pride in their work and understand the value they bring to their patients. After all, we're not just providing a dental service; we're restoring confidence and quality of life. Remember, valuing your work appropriately is not just about financial gain; it's about respecting the skill, effort, and care you put into each procedure. Need to Read it? Check out the Full Episode Transcript below! Highlights of the Episode:0:00 Opening Snippet0:52 Experience in Singapore4:24 The Late Night Emergency5:37 Don't apologize for your fee6:32 Introduction10:24 Neuro-fiscal Drag11:38 Why NOT to give Discounts13:37 Don't diagnose wallets15:03 Gaining Confidence 23:35 When a patient laughed at the fee!32:42 Protrusive Guidance If you liked this episode, you will also like Think Comprehensive – Communication Gems with Zak Kara – PDP010 Did you know? Whilst this episode is not eligible for COD, you can get over 220 hours of CPD from the Web App or Phone App and watch premium clinical videos, for less than a tax deductible Nando’s per month! Click below for full episode transcript: Jaz's Introduction: You know, remakes aren't fun anyway, but trust me, remakes, when you've undercharged in the first place, are the worst. So I guess, make sure when you're charging to factor in that there's a degree of fudge factor. And by adding in this fudge factor, you're not going to have anxiety about doing the remakes, about the financial aspect of it as well. So the lesson there is, even if you're doing like a review appointment, make sure you charge for a review appointment. Because if it's your opinion, and your expertise that the patient's paying for, and the overheads of the building, that is really important to consider. [Jaz]I'm going to start this episode with a little story, a personal story, actually.Me and my wife used to live in Singapore. You guys might know this already if you've been a listener for a long time. We moved to the UK, to Singapore, to practice dentistry, but also travel and stuff, which was, which is great. And dentistry in Singapore was a nice chapter that we look back at when we reflect on our time there. It was a beautiful time. And of course, the very first episode of Protrusive was all about our time in Singapore. But while we were there, Sim, my wife is a practicing dentist and me and her, we worked. In the same corporate, so shout out to Q&M and the kind of working hours we had there was strange. It's like nine to nine. That's right. It was 9:00 AM to 9:00 PM. But in some countries this, like in the Western countries, like to have that kind of a working schedule sounds absolutely insane, but hear me out, right? Because we didn't have kids and the pace of work wasn't crazy. Like I'd see a patient. I'd have a coffee, I'd see a patient, I'd have some noodles. I'd see a patient, I'd have some dimsum, couple hours of a break kind of thing. Have a siesta, it was a chilled way of working.