Breaking the CEO Paradox: Leadership, Abundance, and Financial Freedom with Doug Fettig
Here’s a glimpse of what you’ll learn:
- [01:52] Doug introduces his unconventional journey from college dropout to dental industry speaker
- [02:16] The incredible backstory: hitchhiking across Europe and selling encyclopedias door-to-door
- [03:14] How he fell into accounting and eventually discovered the dental niche 10 years ago
- [05:25] The CEO paradox: dentists become business leaders at 32 with zero training
- [07:21] The shocking reality: only 10% of dentists have formal leadership training
- [08:16] Peter Drucker’s wisdom: “Culture eats strategy for breakfast”
- [09:36] Why vulnerability and coaching are essential for growth
- [11:22] Defining scarcity vs. abundance: zero-sum game vs. expanding the pie together
- [12:21] The profound personal story: losing son Parker and choosing celebration over resentment
- [15:23] Practical abundance tools: gratitude and generosity journals
- [20:34] Retirement planning fundamentals: compound returns as the eighth wonder of the world
- [22:08] The power of time: $100K at 35 becomes $1M by 65, but only $300K if you wait until 50
- [23:35] The Goldman Sachs revelation: best-performing accounts belong to people who forgot their passwords
- [28:25] The ultimate mindset shift: “The biggest wall you have to climb is the one in your mind”
Feeling trapped on a hamster wheel despite clinical success, or struggling to lead a team without any formal business training? Many dentists face the unique paradox of becoming CEOs at 32 without ever learning leadership skills, creating a cycle of stress and reactive management that limits both personal fulfillment and practice potential. What if the key to breaking free isn’t just about business systems, but fundamentally shifting how you view challenges, opportunities, and your role as a leader?
According to Doug Fettig, a CPA and mindset coach who specializes in the dental industry, most dentists operate from a scarcity mindset that treats every situation as a zero-sum game, limiting their ability to grow both personally and professionally. Drawing from his own profound loss of his son Parker, Doug demonstrates how choosing abundance over scarcity—celebrating life and helping others rather than becoming resentful—can transform not just your practice but your entire approach to challenges. His practical approach combines simple tools like gratitude and generosity journals with fundamental financial wisdom, emphasizing that building wealth requires starting early with consistent investing in broad market index funds, letting compound returns work their magic over decades.
In this episode of The Marketing32 Show, host Brett Allen interviews Doug Fettig about the critical mindset shifts that separate thriving dentists from those stuck in survival mode. They explore why dentists need leadership training as much as clinical training, discuss practical tools for developing an abundance mindset, and dive deep into retirement planning strategies that leverage the power of compound returns. The conversation covers everything from the importance of vulnerability in growth to why trying to time the stock market fails, while providing actionable steps for both personal development and long-term financial success.
Resources mentioned in this episode:
- Brett Allen on LinkedIn
- Marketing 32 – Performance-based dental marketing with growth guarantee
- Doug Fettig – Speaking and coaching for dental professionals
- The E-Myth – Book mentioned about transitioning from technician to CEO
- Peter Drucker – Management consultant quoted on culture vs. strategy
- Tony Robbins – Mentioned for gratitude and brain wave research
- S&P 500 Index Funds – Investment strategy discussed for retirement planning
- Dr. Jeff Grove episode – Previous guest who introduced Doug
- Shelly Van Epps episode – Previous episode about training and hiring
- Alex Hormozi – Entrepreneur mentioned regarding Goldman Sachs investment study
Quotable Moments
- “Dentistry is kind of backward in the sense that a dentist gets out of school, maybe they even take over their parents’ practice. They become a CEO at the age of 32 and don’t even know they’re a CEO, right? They’ve had zero business training, zero leadership training.”
- “Culture eats strategy for breakfast. You have to focus on culture first if you want to maximize the potential of your practice because that’s how you maximize the potential of your team.”
- “The abundance mindset is totally different. It’s like you and I can work together, Brett, and we can expand the pie. My slice can get bigger and your slice can get bigger. It’s a completely different mindset.”
- “If you’re 35 years old and you throw $100,000 into the stock market, average return of 8%, that 100 grand by the time you’re 65 will turn into a million dollars. If you wait till you’re 50… it won’t even average 300,000 because it has less time to grow.”
- “The biggest wall you have to climb is the one in your mind. It all starts and ends right here. And if we go through our day and our life with a negative mindset or with a scarcity mindset, it becomes a self-fulfilling prophecy.”
Action Steps
- Invest in formal leadership training immediately—recognize that becoming a CEO requires different skills than clinical dentistry and commit time and money to developing these capabilities
- Start or enhance retirement investing now using broad market index funds like the S&P 500, understanding that time and consistency matter more than timing the market
- Implement daily gratitude and generosity journals, writing down three things you’re thankful for and three acts of generosity you committed each day to shift toward abundance mindset
- Find a leadership coach or mentor you’re comfortable working with, accepting that vulnerability and growth require stepping outside your comfort zone
- Focus on building practice culture first before strategy, recognizing that as the culture keeper, your mindset and leadership directly impact every team member and patient interaction
Sponsor for this episode…
This episode is brought to you by Marketing 32 the only dental marketing agency and team with a performance guarantee that is truly invested in the growth of your practice.
If you’re not growing in that first month they work together with you, you don’t pay. They really try to find practices they know they can help and partner with you for a win-win relationship.
If you need help with your marketing, visit Marketing 32 and hop on a discovery call to see if it’ll be a great fit.
Episode Transcript:
Brett Allen (00:19) Hi, Brett Allen here, host of the Marketing 32 show where I connect with leading dentists, dental influencers, and industry experts to bring you guys the latest and greatest insights and innovations to help you grow your practice and thrive. This episode is brought to you by our team here at Marketing 32. As always, we are the only dental marketing team that I know of with a performance guarantee that means we’re truly invested in the growth of your marketing and your practice. You grow or you don’t pay us.
We really try to find practices we know we can help and deliver ethical, honest marketing and growth. To learn more and set up a call with a member of our team to see if we’d be a great fit together, head over to marketing32.com. Quick shout out to Shelly Van Epps. Awesome episode recently recorded with her all about training at the front desk and hiring. If you guys are struggling finding hygienists or team members right now in this weird economy that we’re in.
Doug Fettig (01:00) you
Brett Allen (01:16) Check out that episode, she’s got a lot of great advice. Today I’m excited to introduce a new friend of mine, thanks to Dr. Jeff Grove, who we recently had on the show. Doug Fettig is a CPA and MBA who travels the country inspiring dentists to lead, live with an abundance mindset. Super excited to talk about that. To think like a CEO and plan for the retirement of their dreams. Doug, welcome to the show, excited to have you on.
Doug Fettig (01:18) you
.
Thanks, Brad. It’s great to be here and I enjoyed meeting you through Jeff and learning about your world and so I knew this was going to be a fun, informative time.
Brett Allen (01:52) Yeah. Yeah. We’ll have a great time together. I love talking about mindset and this concept of abundance and scarcity. ⁓ I know we’ll dig into that, but before we kind of get into that, I’d love to hear more about kind of your story and how you got into dentistry and now traveling around the country, the world speaking, ⁓ and leading dentists with, with your expertise. us about that.
Doug Fettig (02:16) Well, I like to tell people I’ll never be a speaker at a college commencement ceremony because my first line would be the best decision I ever made was dropping out of college. And then I’ll pause for a gasp the parents. And then I’ll say the second best decision was going back seven years later. But I did drop out of school. I was bored and directionless. And I ended up getting a one way ticket from Bismarck, North Dakota to Hamburg, Germany and started hitchhiking around Europe. And that led to seven years of travel and doing weird jobs like ⁓
Blackjack dealer and bartender and door-to-door world book encyclopedia salesman We’re gonna pause here for a second while young people look up what an encyclopedia is, but anyway, oh Yeah Now I need seven so we didn’t have a lot of money but we even had the child crappers and we had the moon one for kids so we had both the adult and the child version so we were Yeah, little large on knowledge, but
Brett Allen (02:51) ⁓ wow.
Right. I just saw on Facebook somebody posting their set that they’re getting rid of. It’s like, nobody needs those anymore.
⁓ awesome.
Doug Fettig (03:14) I eventually went back to school and kind of, I kind of fell into accounting and got a CPA because I knew I could do it and I needed a job. And I eventually was like, you know what? I kind of like people more than debits and credits. So I kept my CPA and eventually morphed into working for a regional CPA firm doing business development work for them, introducing them to CFOs and CEOs. And they came to me one day and said, Hey, Doug, we have a dental Mitch. There’s about 200 dentists that we do work for and our partner’s retiring.
Would you be interested in taking over the dental niche and picking up some of his public speaking ⁓ duties that he had acquired? And I said, well, I’ve been to the dentist, so why not? So I knew nothing about dentistry. That was 10 years ago. And the retiring partner took me under his wing for six months. And I learned the ropes and learned some of the basics of his talks. And I kind of used that to launch myself into the dental world. eventually, after five years left the
CPA firm and started doing my own thing, doing talks around the country for all the big boy dental groups, study clubs, associations. And I think part of the reason why I’ve had some success is that I joke with people when people go to an all day event and they see like 11 to 12 so-and-so CPA, they’re like, oh my gosh, you know, just kill me now, right? So I try to make it entertaining. I have a money gun and I have lockup music and funny videos. Cause you, you’ve got to keep the audience.
Brett Allen (04:35) Right.
Doug Fettig (04:42) awake and entertained or they’re not going to be able to learn anything and take action. So we’ve all been in training where someone puts up a four other words on it, and starts reading it. You’re not killing me now, right? I’m done. So, yeah.
Brett Allen (04:48) Right.
Yeah. Yeah. Right. There’s some etiquette. Yeah.
Presentation etiquette. Yeah. Strategy.
Doug Fettig (05:03) So I
fell into dentistry and embraced it within an abundant mind set.
Brett Allen (05:09) That’s awesome. what’s in your experience after working as a CPA and working with dentists, what’s like the biggest challenge or aha kind of thing that you’ve experienced with them that you’ve helped walk them through?
Doug Fettig (05:25) To me, dentistry is an interesting profession. It’s kind of bash awkward in the sense that a dentist gets out of school. Maybe they even take over their parents’ practice. They become a CEO at the age of 32 and don’t even know they’re a CEO, right? They’ve had zero business training, zero leadership training. In the normal world, you work your way up through a company, you acquire skills, you become a senior manager, you become a director, and maybe eventually become a CEO. But in dentistry, it’s like, nope, boop, right to the top.
Brett Allen (05:55) right there.
Doug Fettig (05:56) And so the problem is twofold. The first problem is a first world problem. Most dentists are never going to be on food stamps. So there’s an inertia that takes hold. They’re in their little bubble. They’re doing OK. But they’re reacting to day-to-day emergencies. They feel like they’re on a hamster on a tread wheel that they can’t get off. And so the second problem or opportunity
is that dentists don’t understand that to be a successful CEO, you have to surround yourself with experts to help you grow. Otherwise, you become the bottleneck. If everything has to go through you, whether it’s your expertise or not, you become the bottleneck for growth and you semi ⁓ make your life worse, stress, relationships, everything else. You’re trying to do everything.
Brett Allen (06:45) Yeah. Yeah. I remember reading a book. I was in college. My emphasis was entrepreneurship. I always wanted to do my own thing. And the book was called the E-Myth. I’m sure a lot of people have heard of that. It’s a very popular book, but that’s the concept, right? Like when you start something or when you get thrown into something like owning a dental practice, initially you’re the guy and you got to, you got to run everything and figure everything out, but you got to transition into delegation and leadership and
hire out all of those day-to-day responsibilities. that can be hard for some people, especially if they don’t have any kind of leadership background, right? Or any kind of formal training or, yeah.
Doug Fettig (07:21) Oh, yeah. when I
do my talk spread, there’s maybe let’s say there’s 50 dentists in the audience. And I asked them, OK, how many of you have ever had formal leadership training? Maybe 10 % raise their hands. I’m like, OK, let me get this straight. So the rest of you got all the leadership training that you needed in dental school. And they laughed because they didn’t get any, right? So then it’s tough love time. I’m like, OK.
You’re the most important person in the practice. You’re the primary producer. You’re the keeper of the culture, but you can’t take a little bit of time and money and invest in yourself to become a great leader. Help me understand this guys, gals, they kind of look like, hmm, because you can do all these other things. But one of my favorite quotes by Peter Drucker, culture eats strategy for breakfast. You have to focus on culture first if you want to maximize the potential of your
Brett Allen (07:59) Yeah.
Mmm.
Doug Fettig (08:16) practice because that’s how you maximize the potential of your team. Culture is everything. And some dentists, they’re like, well, I don’t yell at my team members and I pay them on time. ⁓ OK, that’s a low bar. Right, That’s a low bar. And then everybody complains about staffing shortages. OK, I’m less likely to play a small little violin for you on staffing shortages.
Brett Allen (08:20) Hmm.
That’s it, iCulture. Yeah. That’s the minimum, right?
Doug Fettig (08:45) If you haven’t tried to become the greatest leader you can.
Brett Allen (08:48) Yeah. Yeah. So what, what kind of leadership, ⁓ recommendations do you usually share when you’re speaking with Dennis? What kind of tips do you have? Is it hiring consultants? it, is it doing, you know, going through training? Is it, what do you recommend?
Doug Fettig (09:06) Well, I think at the top level, it’s finding a leadership, if you want to call them a leadership coach or a mentor, guy that you’re comfortable working with. Because let’s think about like, I’m a tennis fan, right? I was just watching some Wimbledon this morning. The greatest tennis players in the world hire a coach, right? Federer, Novak, Nadal, they all have a coach. So why wouldn’t we think in order to become the best at what we’re doing that we couldn’t benefit from a coach or a guide? And here’s the problem, I think.
Brett Allen (09:14) Mm-hmm.
Hmm. Yeah.
100%.
Doug Fettig (09:36) In order to do that, you have to be willing to be vulnerable and to be willing to go through some pain to grow. And I think a lot of people, like I said, hey, I’m not on food stamps, screw it. I don’t need a coach. And so it’s that power of inertia. And sometimes I think that fear of being vulnerable, that’s what’s required in order to grow, in my opinion.
Brett Allen (09:59) Yeah, being authentic. A lot of times we don’t want to be authentic and share what we’re going through and share the challenges we have. I don’t know what it is in maybe our culture, our upbringing, but we kind of look at that as frowned upon, like, I’m weak by sharing my struggles.
Doug Fettig (10:17) I think it’s changing slowly and it’s changing also in kind of in the whole mental health sphere. My wife is a lifelong mental health nurse and there’s become, think it’s when I was a kid, nobody talked about depression or anything that was off the table. I mean, that was the sign of weakness. It’s still might be, but I think it’s changing maybe slowly and my wife does some talks on stress and burnout and it’s becoming more acceptable for people to say.
Brett Allen (10:30) Yeah. Yeah. Right.
Doug Fettig (10:44) You know, I need some help here and to reach out for it.
Brett Allen (10:46) Mm-hmm.
Yeah. Yeah. I love that. You, you tapped on, you touched on some, some things there when you’re talking about getting help that resonated with this concept that you mentioned earlier about abundance mindset. ⁓ let’s kind of segue into that a little bit. love talking about this. think there’s definitely as I’ve gotten older, I can see this more and more in the world around me and in relationships and differences in way people, ⁓ approach the world share with us specifically what
you want about this and let’s go deep on that.
Doug Fettig (11:22) So I usually open up my talks talking about the power of mindset. And when I talk about scarcity versus abundance, I think a lot of people have heard those terms, they become kind of in vogue. And in reality, all scarcity is that you see things as a zero sum game. If there’s a pie, if my slice of the pie gets bigger, yours has to get smaller because there’s winners and losers in every transaction. The abundance mindset is totally different. It’s like you and I can work together, Brett, and we can expand the pie.
my slice can get bigger and your slice can get bigger. It’s completely different mindset. And I’ll, I’ll say, we touched on this in the, in the, you the pre-talk, I’ll say way into a very personal story. ⁓ our, our middle son was born prematurely, lived for seven days before he died, which was obviously devastating. ⁓ one of the ways we learned from that was by, you can think of as a coach. went to a grief therapist who was amazing. Okay. And out of that experience,
Brett Allen (12:09) wow.
Doug Fettig (12:21) My wife and I decided, well, we had two choices. We could let our son Parker’s experience be one that, you know, let us down a path of being resentful and angry, or we could say, how do we celebrate this time on this earth? How do we make the most of it and help other people? And so we said we want to go the path of celebrating his life. And we created a nonprofit that helped people who had family, who had babies in the NICU. And it was a way of honoring our son Parker, but also
using that abundant mindset to say, we’re not gonna err on the side of scarcity. We’re gonna take this event, can’t change the past. We’re gonna take this event and say, how can we make the most of this experience and help other people?
Brett Allen (13:04) That’s powerful. Yeah, I can imagine that’s a really, that was hard for you. Thank you for sharing that. ⁓ I can only imagine. I imagine it’s hard for people who have lost loved ones in similar ways or in tragic accidents. ⁓ Right now, the flooding in Texas, it happened, we just moved to Colorado, but ⁓ last summer we moved here, but that was about an hour from my house where all that flooding was.
Doug Fettig (13:10) Sure.
Thanks.
Incredible.
Brett Allen (13:33) I can
only imagine what all of those families are going through with grieving the loss of their little girls and other family members. Just, you don’t expect things like that. walk us through a little bit more, maybe some examples or tips to reframe and to shift out of the woe is me.
Doug Fettig (13:55) Right.
Mm-hmm.
Brett Allen (13:59) and obviously there’s space and time that everyone needs to grieve and you have to respect that. if you’re a chronic scarcity mindset person, right? Where you’re just constantly looking at the world like a zero sum game, ⁓ are some strategies and tips to shift that focus?
Doug Fettig (14:03) course.
Yes.
And so, yeah,
and obviously there’s less dramatic examples, but there’s people I equate it. So when my boys were younger, they’re now 32 and 27. When they were little, they loved Winnie the Pooh. So people who know Winnie the Pooh, Eeyore, right? Eeyore would walk around with this cloud over his head. So if you walk around like an Eeyore, well, gee, what kind of people are you going to attract, Brett? Probably other Eeyores. Even if you can attract them, maybe that Eeyore wants to be the only Eeyore, so you might not even attract them.
Brett Allen (14:28) Right.
Yeah, the cloud.
Yeah, everybody’s going to be complaining.
Doug Fettig (14:53) So there’s a couple of very simple but extremely effective things that one can do. There’s been a lot of studies done on, it sounds so simple, the power of keeping a gratitude journal. So if you take the time, they’ve done studies, I can reference some stuff. At the end of the day, if you take the time and it’s important to write them down, there’s a power in writing. If you write down in the journal three things that you’re thankful for that day, that simple step,
Brett Allen (15:06) Mm, I’ve heard of that.
Mm-hmm.
Doug Fettig (15:23) helps change someone’s mindset to one of gratitude. And then I take that one step further, I also believe in creating, I call it a generosity journal. So then I also write down three acts of generosity that I hopefully committed that day or was engaged in. And it starts to change your mindset to one of the two Gs, gratitude and generosity. And so I’m not saying someone can change their personality.
Brett Allen (15:26) Mm. Mm.
Hmm.
Doug Fettig (15:52) But I think you can help to focus your mind on those things that maybe you haven’t focused on before. So if someone’s an introvert, they’re an introvert, that’s fine. If someone’s an extrovert, they’re an extrovert. I’m not saying change your personality. I’m help train your mind to appreciate what you’re grateful for and how you’ve helped other people.
Brett Allen (15:58) Yeah. ⁓
Yeah. Gratitude is so powerful. remember first time I really learned the power of that was at a Tony Robbins. I was at an event and Tony Robbins was a keynote closing speaker. And he talked for like six hours. It was phenomenal. And it was, it was so many eye-opening moments. But one of the things he shared was there was a study done and you’ll have to Google this to find this, but they did a study where they mapped brain waves.
against an EKG heart wave. And they put people in stressful situations. And then they had people focus on, the same group of people focus on gratitude. the most, the events of their life they were most thankful for and to just sit in those moments. And in the stressful moments, the waves were like all chaotic when they overlapped them with the EKG. But in the gratitude moments, they were perfectly in seek.
Doug Fettig (16:52) and
Gosh.
Brett Allen (17:11) It was amazing. it’s like, there’s something you’re tapping into with just your soul, maybe. I don’t know how to say it, but gratitude. And this was Tony Robbins point was it’s a, it’s a tool that you can use in any moment to reset and to just say you’re going through the worst day. Say you’re going through some really challenging thing, doing that grad, the gratitude journal, gratitude, exercise, visualization.
Doug Fettig (17:15) Yes.
Brett Allen (17:41) is one way that you can just help reset and regain kind of your mindset, like you said, around abundance. mean, that’s a good recommendation.
Doug Fettig (17:55) I have a few reminders that pop up on my phone every day so I can see them. And one is that this is something I believe in that every interaction we have with another human being is an opportunity to make the world a better place or not. That’s a choice we make every single interaction we have. So you’re at the coffee shop and you’re late for work and the person in front of you doesn’t understand what the menu, so you can come up and take that out on the barista or you can have a different type of interaction.
Brett Allen (18:07) Hmm.
Yeah.
Doug Fettig (18:24) And you know what’s funny, Brett? People will be in line, right? It’s like, gosh, this line’s taking forever to get my coffee. Or someone ought to turn at the four way stop and you get all pissed off, right? But that same person will stay in a job they don’t like for 10 years and be a victim. It’s so weird. Why are we doing this? We’re living something that’s so important in our life, like work that we don’t like. We’ll do that for 10 years, but we get pissed off when we have to wait in line an extra minute.
Brett Allen (18:44) Yeah.
Doug Fettig (18:52) for Starbucks. I what are we doing here, This makes sense to me,
Brett Allen (18:54) Yeah, yeah, got to reframe it. Yeah.
Well, you mentioned, yeah, it’s bizarre, right? ⁓ Yeah, some of the things we tolerate or the decisions we make, like the trades we make, like, cause spend all this time and just to find the deal on something on Amazon. You waste hours trying to find the lowest price on something. When, if you just bought the first thing you found, you know,
Doug Fettig (19:03) That is.
Yes.
I’m ⁓
Thank you.
Brett Allen (19:23) Then, then use that time to maybe go do something more valuable. Like, th th there’s so many trades like that, that we make throughout the day that we’re just, maybe it’s for, know, wiring from our youth or something where we’re just focused too much on how, yeah.
Doug Fettig (19:26) I love that.
There’s
people that are driving to an ATM two miles away because it’s a 50 cent less fee for the… Okay, is your car not worth anything? Come on, yeah. It’s like, are we doing here? ⁓ One of the things I like is that there’s always time to make more money, but never time to make more time.
Brett Allen (19:44) Right, right time and gas money. It’s like, yeah. man.
Time is the most valuable resource for sure. Let’s talk about something.
Doug Fettig (20:01) Yeah, I don’t care if it’s you or me or
Elon Musk, yeah, time is most important resource.
Brett Allen (20:05) Yeah, we all only have 24 hours in a day. It’s amazing what some people can do with that time and, you know, and accomplish so much more than others and impact, right? Well, let’s talk about ⁓ your, you mentioned here that you do planning for the retirement of their dreams. You help dentists to do that. Talking about time, right? As time’s running out, what, let’s talk about retirement. How do you do that? How do you plan for the retirement of your dreams?
Doug Fettig (20:34) Well, obviously, if I’m talking to someone who’s younger, it’s a little easier if they’re older, because we’re going to get into something, the concept of the power of time and compound returns. So as Einstein said, the compound returns to the eighth wonder of the world. And I give some examples. If you save even a modest amount and start saving at a young age and do that consistently, so it’s too pronged. have to save the money, but then how you invest it also makes a difference. If you leave it in a
Brett Allen (20:39) yeah.
Yeah.
Doug Fettig (21:03) savings account and get 0.5 % interest. Obviously, you’re not going to keep up with inflation. So I advise young people, is not tax, this is not, don’t quote me here, but if you look at the stock market, if you’re young and you put your savings into like an S &P 500 index fund with almost no fees, over time, the people that work for Google and General Motors and fill in the blank of the other 498 S &P 500, their job every day is to go to work and create wealth.
Brett Allen (21:08) Hmm.
Doug Fettig (21:33) and they’re pretty good at it, and you get a small piece of that. So you’re making money when you’re sleeping at when you’re investing in the stock market. Because they’re turning, man, they’re just cranking, and they’re making money, and you get a small piece of that. So I give an example. If you’re 35 years old, and you throw $100,000 into the stock market, average return of 8%, blah, blah, that 100 grand by the time you’re 65 will turn into a million dollars. Okay? If you wait till you’re 50,
to throw that 100 grand in the stock market. When you’re 65, it won’t even average 300,000 because it has less time to grow. Yes, just that one time investment. Yeah. You’re very certain it’s growing through the stock. And so if you started investing even like couple hundred bucks a month when you’re younger, and you throw it in there and never stop, that’s the key. The key is consistency and time. That’s the key.
Brett Allen (22:08) Wow. Just that one time investment grows and you just reinvest the gains, right?
Yeah.
Doug Fettig (22:30) So it’s not a fancy answer if someone’s 58 and wants a magical way. There is no magical way when you’re 58. I’m sorry. You can take massive risk and throw it all into Bitcoin, I guess. You go to Vegas.
Brett Allen (22:35) Yeah. Yeah. Yeah.
Right. Yeah. I heard a,
yeah, I had a, so have you heard the name Alex Hermosy? Have you heard that name? He’s kind of big in the entrepreneurship world, marketing world. I met him through Mastermind with Russell Brunson, founder of ClickFunnels. We were together for a number of years and he’s gone off and done some amazing things, Alex has. But I was listening to him once. He was talking about how the…
Doug Fettig (22:48) No. ⁓
Brett Allen (23:07) Goldman Sachs, I think it was, did a study on ⁓ the wealthiest return accounts across their users or investors or whatever. And the biggest growth accounts, the ones that have had the outsized returns, are the ones that either people have died, so they didn’t know about it, or they didn’t have their login, they lost their login, didn’t know how much money they had in their account, so they never touched it. Everybody else?
Doug Fettig (23:13) Okay.
I love it!
Brett Allen (23:35) Everybody
else has made emotional changes and, you know, trying to bet on the, you know, on the ups and selling the high and selling, buying the lows. it’s like, can never time the market, right?
Doug Fettig (23:44) ⁓
Exactly. If you try to the market, you have to time it twice correctly. have to time it when to take it out and then when to put it back in. maybe it’d be one of that million people that can do it, but in general, you’re so much. So here, I’ll give you an example. My brother and I have four brothers, so you can’t pin down which one it is. I have four brothers and four sisters. It was a different time. So one of my brothers, after 9-11, I don’t know if you call this, reborn yet? Just kidding. After 9-11, the stock market.
Brett Allen (23:52) Yeah, but I thought that was fascinating.
Doug Fettig (24:19) was closed for like three days, it was closed. My brother called me and said, what should I do? Should I pull all my money out of stocks? And I said, God, no, it’s gonna drop or you’re just gonna lock in your losses. It’s gonna drop a lot on day one. So people make fear-based decisions. And when you do that, when you sell low, you’ve locked in your loss, right? So I said, don’t do it, don’t do anything. Sure enough, after six months, was back up, it dropped dramatically, right? People freaked out. Rest easy.
Brett Allen (24:22) Yeah, they shut, I remember that. They shut it down, yeah.
Right.
Doug Fettig (24:49) lose your password, don’t touch anything, and let the market do its long-term magic. And that’s what happened again during the Great Recession.
Brett Allen (24:54) Yeah,
yeah, yeah, I remember that. 2009, 2008, yeah.
Doug Fettig (24:57) Yeah,
it happened again during COVID. It started COVID. Huge drop. And so.
Brett Allen (25:00) Yeah. It’s
amazing. You look at the, you look at the growth over time. It’s like crazy. Like, like, yeah, it’s crazy up. And so I’m like, wow, can this continue like this? Are we just going to go to, is the Dow going to go to a hundred thousand? It’s like,
Doug Fettig (25:06) ⁓ it’s crazy up.
Well,
then, well, probably because eventually, because now you’re still in artificial intelligence. So companies can become more productive with fewer workers, which is an issue if you’re one of those fewer workers they don’t need. But if you’re an investor in the company, they’re going to become more profitable with less fewer workers, it’s impacting, let’s say I’m a CPA doing basic accounting work. That’s going to go by the wayside, I think. There’s all these kind of jobs that are going to become
Brett Allen (25:26) Yeah.
Yeah.
Yeah.
Doug Fettig (25:43) less important or less needed?
Brett Allen (25:46) Yeah. Yeah. I think AI is changing a lot already in dentistry. ⁓ we use AI with our call tracking software. We’ve talked about this on the show before we have a dashboard we developed that listens to the, well, it doesn’t listen to the calls. We have a call software that transcribes the calls. And then we have an AI on top of that, that will categorize the calls and show the front desk. Hey, this, this is your booking rate for one. If you don’t know what your booking rate is, you should.
Doug Fettig (25:53) Is it?
Brett Allen (26:14) Two, this is the reason why a patient’s not scheduling when they’re talking to you. So let’s fix that. ⁓ And it’s huge when it, you know, talking about marketing and what patients are coming from your marketing, how to capitalize on that. ⁓ AI is awesome. And I think a friend of mine, was telling me, I think, and I agree with him, I think it’ll help us ⁓ be way more resourceful and allow us to do other things with our times. And we’ll see much more innovation come.
from humans than we did before because we’re not doing some of the menial tasks that AI can do now. ⁓ And so it’s an exciting time for sure, but yeah, we kind of.
Doug Fettig (26:53) Well, it’s
savvy to incorporate AI into marketing what you’re doing because the ones who don’t are going to be, I think, left behind.
Brett Allen (27:00) Yeah. Yeah. It’s like people on paper charts still, right? It’s like, whoo, I don’t know how you do that.
Doug Fettig (27:06) And then you have you
have then you have Dennis I talked to that are incorporating robotics into their dentistry. I mean, I mean, we know about the Yomi’s incredible. I know a dentist out of Boston, he’s cutting edge, right? So I’d love these entrepreneurial thinkers that are willing to take a risk because they know at a minimum, they’re going to learn a lot. It may not work out exactly as they planned, but they’re going to learn a ton by taking that risk.
Brett Allen (27:11) Yeah, yeah, the Yomi robot. Yeah. Yeah, amazing.
Mm-hmm.
Yep. Yep. Yeah. Well, we’ve covered a lot of ground. this has been fascinating. We’ve talked about, ⁓ your background. We’ve talked about abundance, leadership training, AI stocks, retirement, so much. sounds like you’ve got, and when you speak, you can speak for hours. So I imagine you have a lot that you can share. You guys, you got to check out Doug’s, content, and, check out his, his website before we go to contact details and how people can get in touch with you. always ask people.
Doug Fettig (27:44) you
Well.
Brett Allen (28:02) One last question before we part, and that is, if there’s one epiphany or mindset shift, one golden piece of advice that you could share that would give a ripple effect or have a ripple effect across many facets of a dentist’s either life or their practice, what would be that one piece of advice that you think is really, really good?
Doug Fettig (28:25) Well,
to me it goes back and I’m going give you a quote in a second, but it goes back to the only, I believe the only thing we can truly control is our mind and our perception of things and how we react to things. And we can’t control much in the world, but we can control our reaction to it and how we perceive things. And so one of my favorite quotes is, and I don’t know the author, the biggest wall you have to climb is the one in your mind. It all starts and ends right here. And if we go through our day and our life,
Brett Allen (28:36) Hmm.
Doug Fettig (28:54) with a negative mindset or with a scarcity mindset, it becomes a self-fulfilling prophecy.
Brett Allen (29:01) Yeah, yeah, that’s good. That’s really good. Well, Doug, this has been an awesome time. If people want to get in touch with you or they want you to come speak at their events or they want to hire you for your CPA service or whatever, I don’t know if you even do that. Where should we send them? You’re a talker.
Doug Fettig (29:15) I don’t do any real work. I’m the talker.
There’s two ways. My website, which is long, but I think it’s clever. It’s dougfetig at dentaldollarsandsense.com, S-E-N-S-E. So dougfetig at dentaldollarsandsense.com. then, and believe it not, I give out my cell number because, don’t call me, text me first though, I won’t answer if you call me. It’s an unknown. ⁓ 503-314.
7062 and I will respond to you and would love to learn your story and if there’s a way that I can connect to other people that can help you grow.
Brett Allen (29:52) Texting is great. Yeah. Thank you for sharing that. And thank you again, Doug. This has been a great conversation. Thank you for coming on the show.
Doug Fettig (30:00) Well, thank you for having me. I look forward to tracking your future success and to staying connected with you, Brett.
Brett Allen (30:05) Thank you, appreciate it. Well, until next time you guys on the Marketing32 show, have a great day and a great rest of your week. Take care.
Doug Fettig (30:13) See ya.


