How These Successful Entrepreneurs Overcame Risk and Failure To Achieve Their Goals – Entrepreneur

September 19, 2020 5 min read

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Risk and failure are realities for entrepreneurs and any growth-minded individual must take this into account from the moment they decide to start in the business world. Dental industry power-couple Dr Nathan Jeal and Dr Bao-Tran Nguyen would say it has been the ability to manage both risk and failure that has allowed them to progress as fast and far in their journey as professionals and great leaders of practice growth.

Jeal and Nguyen are dental professionals who have garnered recognition locally, regionally and internationally as experts in several niches thanks to their commitment to excellence across disciplines. They are known in their local community as providers of upscale dental solutions and more broadly as mentors to fellow doctors and dentists. This evolution to success in business and by extension as a model of practice success for fellow professionals has become their identity and passion. In the case of Nguyen, president and co-founder of half a dozen dental clinics, escaping communist Vietnam and time spent in a refugee camp is fuel for her consistent push toward success as an entrepreneur.

Similarly for Jeal, conventional success came long after humble beginnings and constant school changes shaped him as a kid. He credits these experiences for instilling a sense that predictable outcomes could only come as a byproduct of persistence and constant striving to be better. Both Jeal and Nguyen found meaning in these life lessons and applied them to develop new opportunities. Dentistry proved an ideal launchpad to transforming not only smiles but multiple businesses too. 

Business partners and spouses, this unique couple has gained renown as dentists with patients often travelling many hours to see them for customized solutions. Setting this dynamic duo further apart is their commitment to driving growth and improvements for others dentists and doctors. Remarkably they have been able to broaden their horizons without straying from their passion. Their expertise in practice development, marketing, and effective communications formed the basis for their most recent foray in the dental industry aimed at helping colleagues through mentorship and personal business coaching.

Focused On the Objective

Having complimentary skills has allowed Jeal and Nguyen to maintain focus on their goals from the beginning. Although they knew it was not an easy path, they were committed to growing and offering a complete service not only to their patients and dentists working as part of their local network of practices, but also for other doctors and entrepreneurial professionals around the world as part of their business coaching programs.

According to Nguyen there are four keys that when perfected almost guarantee success in the practice of dentistry. Operations, marketing, communications, and culture. These four elements are the foundation of their mentorship and two-to-one business coaching for dentists.

Risk is Part of the Game

Business is part following a recipe and part mental outlook. For this power couple, the old cliché “no risk, no reward” has never been more true. They both firmly believe that risk aversion makes it impossible to grow beyond any current situation.

By the same token, failure is an element they consider necessary for growth as individuals and as entrepreneurs. From the beginning, but even more so as they have gained experience, failure has come to be seen as the cost of “tuition” for their real-life education in business, in professional practice, and in relationships. Accepting risk and failure is a price they have shown themselves willing to accept in exchange for a life of bigger opportunity. 

Responsibility and Willingness

For Jeal and Nguyen, willingness to accept responsibility is a prerequisite to success in business or anywhere else. According to their criteria, it is what separates a successful person, determined to achieve objectives, and establish ever-higher benchmarks, from those who never do.

From their perspective many people want to enjoy the benefits of success, but few are willing to spend the time or invest the sweat and tears that is required. After all success in education, business, and professional practice is not guaranteed and like any worthy endeavour there is always a real risk of failure. 

Persistence, Above All

Persistence and consistency are what characterizes Jeal and Nguyen. They both acknowledge that failure has presented setbacks at different times in their career, however, they agree that it has never distracted them for long from their goals. 

“When you believe in what you do and come from a place of authenticity, refusing to accept permanent failure as an option, then it is much easier to push back against the pressures and difficult times”.

For both doctors, creating a winning team by hiring the right people is a major component of their growth as entrepreneurs and professionals.

Today, in addition to having been involved in the growth and transition of numerous dental practices, they have had the opportunity to speak from the stage, both at live events and more recently, at remotely delivered virtual conferences too. Participating as speakers allows Jeal and Nguyen to showcase the practice growth strategies that they have used in their own business with so much success. 

Publication of their book in late 2020 will be the culmination of an unconventional decade in practice. The book, which is entitled “Fast Growth Practice”, is a deep immersion into their practical protocols for business and life.

Their ability to connect people to each other and to helpful concepts has given them greater reach and success in the areas of dentistry, practice growth and marketing. With their book launch imminent and their business coaching program now taking off, Jeal and Nguyen look poised for more great things to come.

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