True Dental Success Institute

Archive for June 2017


157: Execution in the Age of Distraction

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Never before in the history of human kind has there been a greater volume of free information available on every subject imaginable.

But how do you find the right information in a sea of nonsense and white noise?

How do you find useful information that you can implement to create the frameworks for progress and success?

How often do your intended goals, tasks or action plans go unfinished or incomplete?

In this episode of the Dentalpreneur Podcast, I play a live address that I gave earlier this year in Dallas. During the 36:00 minute presentation, I cover:

  • The simple strategy that you can employ 52 times per year that will have a huge positive impact on your business and life
  • What your main goal as a CEO should be
  • How to succeed despite the “Whirlwind”
  • The difference between “Lead Measures” and “Lag Measures” and how an effective leader can use both to achieve the primary objectives in your organization

EPISODE RESOURCES




156: Craig Cody – The Dentist Tax Whisperer

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One of the fastest ways to increase your net income without spending any additional time at the dental chair is by legally decreasing your tax liability.

Over the years, there’s been some debate over the length of the tax code, but according to Andrew Grossman, an attorney at Congress’ Joint Committee on taxation, the current tax code is approximately 2,600 pages long.

And hidden within the pages of the enormous tax code of the United States are many legitimate strategies that American dentists can legally use to decrease the amount of money that they’re forking over to Uncle Sam every year.

In this episode of the Dentalpreneur Podcast, I interview Craig Cody. Craig is a 17 year veteran of the New York Police Department who went on to become a CPA and later a tax coach.

During our conversation, we discuss:

  • The most common mistakes that dentists make that lead to them overpaying on their taxes
  • Real life tactical tips that will immediately decrease your tax liability
  • The financial and liability risks of incorrect entity selection
  • How to legally use your own primary residence to significantly decrease your taxes
  • How to legally use your depreciated dental equipment to create an income vehicle for family members

EPISODE RESOURCES




155: The Thread that Holds it all Together

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Overhead and Cash Flow Control.

Operational Systemization.

Team Culture.

Master these three pillars and you will have an exceptional dental practice.

But as a practice owner, the CEO of your organization, unless you take the time to cultivate one personality trait, there will be a perpetual struggle to continue to grow, progress, and implement the three pillars.

That trait is Leadership.

In this episode of the Dentalpreneur Podcast, you can listen to a live address that I gave on the E-6 Leadership Framework.

This framework, authored by Brendon Burchard in his book, The Student’s Guide to Leadership, is one of the most comprehensive, effective and straightforward leadership guides that I’ve ever found.

During this presentation, I cover:

  • The importance of visualization in leading your team
  • How giving your team authorship in the systemization process will lead to lasting results
  • How to embody your message and lead by example
  • The subtle art of empowering your team
  • The correct way to objectively evaluate your team
  • The importance of consistent encouragement and recognition of your team

EPISODE RESOURCES




154: Dr. Ben Kacos – Killer Team Meetings

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Dr. Ben KacosDone incorrectly, team meetings can be a huge time suck and demoralizing for your team. But if executed well, they can lead to fresh new ideas, practice growth and a bullet-proof team culture.

In this episode of the Dentalpreneur Podcast, you get to be a fly on the wall as Dr. Ben Kacos addresses our Elite Practice Mastermind group during a “working lunch” session.

During his presentation, Ben covers:

  • The exact formula for holding an effective Morning Huddle that will set the tone and the pace for the entire day
  • How to schedule and run effective weekly “Growth” meetings that recognize top performers and keep the team focused on the overall goals of the practice
  • How to best utilize Offsite Team Meetings to break through a stagnant or negative culture and how to use these meeting as a tax advantage several times per year

EPISODE RESOURCES




153: Dr. Roshan Parikh – Growth at Breakneck Speed

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Dr. Roshan ParikhVisionaries who actually execute are some of the rarest individuals in the world to find.

But occasionally, I get the good fortune to cross paths with one of these unicorns.

In this episode of the Dentalpreneur Podcast, I interview Dr. Roshan Parikh. A 2008 graduate of the University of Illinois at Chicago, Roshan is the founder and President of the Chicagoland Smile Group.

Dr. Parikh bought his first 650 square foot, two operatory practice in 2008 and since then has expanded his group into a growing network of 12 multi-specialty dental practices.

During the interview, we discuss:

  • How Roshan was able to grow his group in such a short period of time
  • How he has been able to overcome the most common hurdle that most multiple practice owners face: limited access to capital
  • The benefits and drawbacks of Group Dentistry
  • How his upbringing has created a unique perspective that differs from many others in his generation
  • Roshan’s view on the benefits of scratch start/de novo practices versus acquisitions

EPISODE RESOURCES




152: Dr. Summer Kassmel – Rising from the Ashes

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Dr. SummerThis past weekend I had the privilege of spending two full days with some of the smartest, most ambitious and successful dentists that I’ve ever met at our Elite Practice Mastermind meeting in Denver.

At these meetings, each attendee gets a “hot seat” session where they answer three simple questions:

  • Where are you now?
  • Where do you want to go?
  • How are you going to get there?

Even though we’ve been hosting these quarterly meetings for over five years, I’m always inspired and motivated by the stories of triumph and redemption that our awesome members bring to the table.

At this meeting, one back story resonated very strongly with me due to its similarities to my own journey.

In this episode of The Dentalpreneur Podcast, I interview Dr. Summer Kassmel.

During our talk, we discuss:

  • How adversity is often a blessing in disguise
  • The gift of being forced to look at your business from a new perspective
  • How to position yourself and your business for growth
  • How to overcome the daunting challenges that come with being a high producer

EPISODE RESOURCES




151: Dr. Jesse Green- The Savvy Dentist

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Dr. Jesse GreenIn a wildly chaotic and competitive marketplace, sometimes it’s nice to be able to quiet the noise and to get back to the basics such as building and maintaining an organized, sustainable, and profitable dental practice.

In this episode of the Dentalpreneur Podcast, I interview Dr. Jesse Green, the host of the Savvy Dentist Podcast.

Jesse and I had a great conversation about some of my favorite topics; growth, patient retention, and operational systemization.

Specifically, we discuss:

  • Jesse’s 7- Steps to maximum dental practice performance
  • How any practice owner can integrate certain habits that will create increased profitability, highly performing teams and solid processes for success
  • How to overcome the most common challenges that dentists and business owners are faced with today
  • The differences and similarities between the Australian vs. American dental markets; their challenges and opportunities

Resources




150: Engineering a Growth Practice with Dr. Cole Brenny

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When I opened my first dental practice, I had no idea how much I didn’t know about practice ownership and operating and growing a successful business.

Back then, information geared towards the new practice owner with basic questions about practice ownership was non-existent.

Even today, many of the resources available regarding dental practice management and ownership focuses on the struggling and frustrated mid to late career dentist.

In this week’s episode of the Dentalpreneur Podcast, I interview Dr. Cole Brenny. Cole is a practice owner, millennial dentist and the founder of PracticingDentist.com. During the interview, Cole and I discuss:

  • What makes millennial dentists different from the generations preceding them
  • The potential obstacles that new dentists must be aware of when starting and growing their dental practices
  • The steps to a successful practice launch
  • Why Cole believes the millennial generation is misunderstood
  • The importance of developing your soft skills and leadership ability when scaling your dental practice

Resources:

 

 




149: Technology, Inventory Control and Overhead Reduction with Tiger Safarov

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overheadThere are only a handful of people that I know who are as passionate as I am when it comes to overhead and cash flow control in a dental office.

Tiger Safarov, founder and CEO of ZenSupplies.com is one of those people.

Recently, Tiger flew into DSI Headquarters to train my team on how his company utilizes technology to track and control inventory.

While driving between offices, I couldn’t resist pulling out the microphones to record a podcast (I’m not totally sure it’s legal to record a podcast while you’re driving.)

During our chat, Tiger and I discuss:

  • How to integrate technology into your dental practice to decrease overhead and increase profitability
  • Which expense categories are the easiest to manipulate in order to decrease overhead almost immediately
  • How self-education and diligent tracking can make a huge impact to your bottom line
  • The unexpected impact that small overages in just a few categories can make in the health of your business

Resources:




148: Are you a Boss or a Leader?

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When it comes to developing a successful dental practice, I’m sure that we can all agree that it’s imperative to create a strong team culture, develop tight operational systems, and keep cash flow and overhead under control. But what is the thread that holds it all together? In a word: Leadership.

According to Bill Bradley, “Leadership is unlocking people’s potential to become better.”

In this episode of the Dentalpreneur Podcast, I interview Dr. Kara Maloley.  Kara is the co-founder of the Relentless Dentist Podcast, and founder of beingabossdental.com which specializes in helping dentists to become better leaders.

During our interview we discuss:

  • The importance of recognition and why it is a more powerful motivator than compensation
  • How to cultivate great leaders
  • The tangible steps to integrating leadership into to culture of your practice
  • Why other elements of practice management cannot be implemented unless there is a strong leader at the helm

EPISODE RESOURCES