True Dental Success Institute

Podcast – Dentalpreneur | with Dr. Mark Costes


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




147: Dr. Chris Phelps: From $600K to $6.5M in six years

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Every single day, consumers are exposed to thousands of marketing messages, pitches and claims.

This constant barrage has many of us completely desensitized… but every once in a while, I run into someone with a unique and valuable message that penetrates through all of the white noise.

In this episode of the Dentalpreneur Podcast, I interview Dr. Chris Phelps.

Chris is the founder of CallTrackerROI.com,  a surgical implant placement instructor and a certified trainer in the Cialdini Method of Ethical Influence and Persuasion.

During our time together, we discuss:

  • The most effective system for bridging the gap between phone calls and new patients
  • How to ethically persuade more people to proceed with your treatment recommendations
  • How to utilize affordable technology to track and monitor sources of traffic into your office
  • How Dr. Phelps grew his practice from $600,000 to $6.5M in six years and how you can too
  • How to drive patients through the doors of your practice using Dr. Cialdini’s Six Principles of Persuation

EPISODE RESOURCES




146: Navigating the Challenges of Partnerships and Multiple Practice Ownership

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multiple practiceIn this new world of multiple practice acquisition and ownership, it’s very difficult to scale at a rapid rate without creating collaboration and partnerships.

In this week’s episode of the Dentalpreneur Podcast, I interview my partner, Dr. Mark Davis.

Mark is a seasoned entrepreneur, practicing dentist and multiple practice owner. During our discussion, we discuss:

  • How to navigate the challenges of partnership and create a lasting relationship
  • How to continue to expand into multiple practices once the traditional sources of capital have dried up
  • How to locate and negotiate with motivated sellers
  • The best way to approach a motivated seller to create a win-win transition
  • The options in raising capital when growing your own DSO
  • How health and fitness have increased Dr. Davis’s energy level and career longevity

EPISODE RESOURCES




145: Converting Passive Visitors into Active Patients

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In this episode of the Dentalpreneur Podcast, I interview Beth Bogan from Ace Chat.

Beth’s company works as an extension of your front office team by adding an interactive element to your website.

During our conversation, we discuss:

  • How engagement with website visitors increasing the value of your marketing dollar
  • The benefits of adding “Chat” to your website
  • Which types of websites are compatible with “Chat” software
  • Why site visitors who “Chat” are eight times more likely to become patients than non‐chat
    visitors

To find out how you can integrate “Chat” into your existing website, contact Beth at: Beth@acechatservice.com

EPISODE RESOURCES




144: Team Incentives: The Win-Win Approach

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IncentivesAs a practicing dentist, a multiple practice owner and dental practice coach and consultant, I’ve seen some pretty interesting and sometimes baffling team incentive programs.

I’ve seen incentive programs that are based on production, collections, new patients, five star reviews… and just about any combination imaginable.

In today’s episode of the Dentalpreneur Podcast, Jake Conway (Dental Success Institute’s Financial Analyst) and I discuss the bonus program that we’ve created for our clients and for the ten practices that I currently own.

During the interview we discuss:

  • The actual nuts and bolts of the incentive program
  • How to ensure that there is no bonus awarded unless the owner receives a minimum amount of profit
  • Who participates in the bonus and how is the total bonus pool calculated
  • How to Incentivize the hygiene department

EPISODE RESOURCES