Joined 4 years ago... First post today

[Nucleatum]

Hi all,

I actually read the Millionaire Fastlane 4 years ago, and it hit me like a ton of bricks. I joined the forum and did...nothing.

I do have reasons for this (Immigrated to the USA, Started Dental School) but really they're just excuses.

I want to build wealth, as a means to achieving freeing myself from the 9-5 so I have time to focus on travel, family, and friends.

My energy has come back now that I'm out of University, and my plan is to use the capital from my job to start/own one (or more) location independent, online businesses. The Dental niche would be ideal, just because I have the knowledge, but still working on identifying problems that I can solve.

The community here provides so much value, and I just hope I can give some back.

Thanks!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MJ DeMarco]

Welcome, posting after 4 years is better than not posting at all!

Do you have no interest in being a practicing dentist?

 

[Nucleatum]

Welcome, posting after 4 years is better than not posting at all!

Do you have no interest in being a practicing dentist?

Thank you!

I would actually love to do high-end cosmetic dentistry.

However, this won't give me the lifestyle/wealth that I want. I'd hope to do this part time while running something else.

Owning my own practice/ group of practices is possible, but you need to stick in one area for years to build the practice, and there are a lot of headaches in the business of dentistry (Government regulations, employees, malpractice risk etc)

 

[BizyDad]

there are a lot of headaches in the business

of anything. No business is without headaches. The grass is always greener.

What kind of wealth are you looking for that high end cosmetic dentistry wouldn't give you? I have a friend sold a small chain in that field for $40 million. Took 10 or 11 years to grow. You could be in your early-mid 30's with millions socked away. You could spend the rest of your life travelling the world.

You don't have to be the one stuck in one area. Build a marketing machine, hire/partner with another dentist and let them stick it out in that office. Then open a second, build it until you can bring in another dentist and let them stick it out in that office. Or you can acquire your way to a chain, so your next office comes with an established team. That's just a couple ways to get there. Being in this field could/would give you the opportunity to invent medical devices to make other dentists' lives easier. Medical device companies often sell for a pretty penny. Or license your invention and collect royalties.

Sure I am oversimplifying things and making them sound easy, they aren't, but my point is this... As business owners, we've got to develop the ability to solve problems, not just see potential problems and say, "Nah, that ain't for me." At this point you want to do this part time, which means you won't really get good at it, and you'll keep searching for that magical "something else" when you have a potential gravy train staring you right in the face.

10 years go by fast. Just some food for thought, good luck on your journey.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.