True Dental Success Institute

Archive for July 2016


067: Real World Practice Growth, Dr. Mark Costes

Practice Growth
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mark-costesWelcome to another episode of The Dentalpreneur Podcast. On today’s episode I want to share some of the finer points of a presentation I gave at last month’s Elite Practice Mastermind Meeting in Portland, OR.

My experience as a consultant and business coach has been that many dentists are not aware of what they are truly spending. The common areas of neglect are expense categories, overhead and cash flow.

Today I share the basics of the concept we use called “The Phases of Practice Growth.” In Phase I, I share how our team of consultants and financial analysts focus on creating a formula of 30% for payroll, 30% for all other expenses, 30% for doctor salaries and 10% for profit.

Once all overages have been addressed the focus then becomes increasing revenue. In Phase II this is achieved from within the existing patient base and by further decreasing overhead. The ideal formula for this phase is 25% for payroll, 25% for all other expenses, 30% for doctor salaries and now 25% for profit and future growth.

Following these real world principles can make a big impact on cash flow and profitability of your dental practice. Be sure to catch the episode when I discuss Phase III.

All of that and more on today’s episode of The Dentalpreneur.

In this episode you’ll hear:

  • How to maximize your profitability without doing any external marketing
  • The steps to immediately increasing cash flow in your pracitce
  • How to analyze and control the expenses in your practice while generously rewarding your team financially
  • The statistical formulas and alaytics that the most successful dental offices utilize

Thanks to you for joining us on another episode of the Dentalpreneur podcast.

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066: Delving Deep With Mastermind Elite; Dr. Ben Kacos

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Dr. Ben KacosWelcome to another episode of The Dentalpreneur Podcast. This episode of Dentalpreneur is being recorded as we stream live on Facebook. Today Dr. Ben Kacos joins me in Portland, Oregon as we convene for the second Elite Practice Mastermind meeting of this year.

Regular listeners of the Dentalpreneur podcast are familiar with Dr. Kacos, this is his second appearance. For those of you not familiar with Dr. Kacos, he is a 2011 graduate of the Medical College of Georgia, owns a fee-for-service dental practice in Shreveport, LA and is a member of the Elite Dental Practice Mastermind group.

Today Dr. Kacos and I speak about applying Napoleon Hill’s concept of a mastermind group and the benefits that belonging to such a group has. We discuss how the “hot seat” exercises that are a part of each mastermind event as a measure of accountability and opportunity for peers learn and provide valuable guidance. Dr. Kacos shares how he has grown from being a mastermind member to now starting a continuing education business for dentists that will combine learning with adventure and socializing.

All of that and more on today’s episode of The Dentalpreneur.

In this episode you’ll hear:

  • How to determine which a business coach, consultant and/or mastermind group is right for you
  • Why meeting with your professional peers is beneficial
  • How accountability can lead to implementation and systemization
  • When to realize you have out grown your business coach or mastermind group and need to step it up

Special thanks to Dr. Ben Kacos for speaking with me today. Thanks to you for joining us on another episode of the Dentalpreneur podcast.

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065: Lauren Edvalson – SEO & PPC – How To Not Get Ripped Off

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066-Lauren-EdvalsonWelcome to another episode of The Dentalpreneur Podcast. Joining us today is Lauren Edvalson.

Lauren is a digital marketing expert and founder of Edvalson Marketing. As an authority in SEM, SEO and WordPress design, Lauren focuses on creating an online presence for businesses and has proven that her reputation marketing strategies are enormously successful.

Lauren and I discuss the most critical information that should be included in a monthly SEO/SEM report to ascertain if your marketing and placement campaign are successful. She explains how to call track and determine if leads are converting. We also discuss how to manage your online reputation by soliciting five star reviews from your patients. Lauren describes what your online marketing campaign should be comprised of for the best results and what your SEO marketing company should be doing for you.

All of that and more on today’s episode of The Dentalpreneur.

In this episode you’ll hear:

  • How to avoid overpaying for reputation marketing
  • What your SEO company should NOT be doing
  • How determine your pay-per-click budget
  • Why your advertising should have a strong focus on SEO/SEM
  • How reviews affect your SEO and online reputation
  • Why tracking your ROI for internet marketing is important

Special thanks to Lauren Edvalson for speaking with me on today’s show. Thanks to you for joining us on another episode of the Dentalpreneur podcast.

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