True Dental Success Institute

Podcast – Dentalpreneur | with Dr. Mark Costes


182: Vicki McManus – Increasing your Productivity, Profitability, and EQ

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Vicki McManusOn Today’s episode of the Dentalpreneur Podcast, I chat with a legend in dentistry, Vicki McManus.

Vicki has decades of experience coaching dentists and dental teams.

During our chat, we discuss:

  • How to increase doctor production immediately without compromising your ethics
  • The importance of emotional intelligence and how to utilize it improve relationships with your team and your inpatients
  • What to consider when you’re designing an effective marketing campaign
  • How to collect and analyze the data necessary to manage and grow your dental practice

Resource Links:

PDA Marketing Group
http://www.pdamarketinggroup.com/

PQ: Positive Intelligence Quotient (Dr. Shirzad Chamine)
https://youtu.be/-zdJ1ubvoXs

We didn’t discuss but if listeners would like a copy of my latest book on Amazon:
Frustration: The Breakfast of Champions

 




181: Making Money After Dental School

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dental studentsThe stakes have never been higher for new dentists.

With astronomical student loan debt and an ever evolving professional landscape, it’s never been more important for dental students and young dentists to get connected and to get educated on the topics of practice management and business ownership.

In this episode of the Dentalpreneur Podcast, I interview Dallin Gomez, a third year student at the University of Utah School of Dentistry and the president of their business club.

During our chat, we discuss:

  • How to hit the ground running and develop a sound career plan following dental school
  • Deploying tactics for finding and processing the best free content
  • The importance developing a well rounded “clinical suite” while still in dental school
  • How to directly connect with influencers and thought leaders in the dental profession

EPISODE RESOURCES




180: Multiple Practice Owner Rapid Fire

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All the magic happens at Cocktail Hour.

I honestly believe that the most valuable part of any live event happens outside of the formal lectures and presentations.

Strolling the exhibitor’s hall, chatting at lunch or dinner, standing at the bar after the event… these are some of the places where I’ve met future business partners, associates, and preferred vendors.

In this episode of the Dentalpreneur Podcast, I interview an impromptu group of new friends, all whom either own or work in multiple practices.

During our conversation (at cocktail hour of course), we discuss:

  • How to leverage supplier and vendor relationships to your advantage
  • The tangible benefits to creating a world-class company culture
  • How being a “Spreadsheet Nerd” gives you a distinct competitive advantage in practice ownership
  • Insider tactics from multiple practice owners to maximize employee output and performance
  • How small groups are able to afford a well paid executive team

EPISODE RESOURCES




179: Scratch versus Acquisition

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Dr. Peter BouldenI love talking business.

And there are some people who I can talk to for hours on the subject.

In this episode of the Dentalpreneur Podcast, I interview one of those people- my good friend Dr. Peter Boulden.

During our conversation, we talk about a variety of topics. Here are just a few:

  • What to do when banks refuse to lend you more money for growth
  • The benefits of owning versus leasing your practice space
  • How to attract and maintain the highest quality dental associates for your practice(s)
  • How to avoid the stress and burnout associated with dental practice ownership
  • Peter’s scientific approach to weight loss and dropping body fat
  • How to make the exact recipe for Dr. Peter’s “secret” dietary hack

Dr. Peter’s Bulletproof Coffee Recipe:

  • Make coffee in a French Press
  • Get a Yeti Tumbler and add:
    • 2 TB of Bulletproof Brain Octane
    • 2 TB Ghee
    • 1 Scoop of Collagen Protein
    • Xylitol or Erythritol Sweetener
    • ½ pack of Chaga Mushrooms
    • Cinnamon if desired
    • Pour all contents into blender and blend for 15 seconds

EPISODE RESOURCES




178: Thinking About Starting a DSO?

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Like it or not, there’s something huge brewing in the dental profession.

Small, medium and large Dental Support Organizations (DSO’s) are popping up across the country.

If you’re wondering where this trend came from, where it’s going and whether you should jump on board or watch from the sidelines, this episode is for you.

Today on the Dentalpreneur Podcast, I interview Brian Colao with the Dykema Law Firm.

Brian and his firm represent over 200 DSO groups in all 50 states in the areas of entity formation, compliance, mergers, acquisitions, working with private equity and just about anything else that you can think of in the DSO world.

During our conversation, we discuss:

  • The history of DSO’s and why this time, they’re not going away
  • The importance of legal structure and why it’s so important to define your exit even prior to formation
  • The practice valuation benefits of selling a group versus a solo practice
  • What private equity is looking for when they vet for groups of practices to buy
  • The legal way for non-dentists to own interest in dental practices

EPISODE RESOURCES




177: Verbiage, Standard of Care and Supervised Neglect

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Here’s a challenge for you…

What’s the best way to “retrain” a patient or an entire patient base that has been neglected under the supervision of another dental team?

In this episode of the Dentalpreneur Podcast a chat with my friend and fellow DSI coach, Dr. Ben Kacos.

During our discussion we cover:

  • The best verbiage for getting a neglected patient base up to the standard of care
  • How to integrate change without alienating an entire patient base
  • How to edify another dental care provider- even if their care has been substandard
  • The best way to quickly build trust and rapport with new patients or in a new practice

EPISODE RESOURCES




176: Profit is NOT a Four Letter Word

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I had to pinch myself.

I did a triple take.

Yep, that’s what it says… I guess you can call me a bit of an entrepreneurial nerd  (at least that’s what my wife Leslie calls me) but there are certain authors and speakers in the entrepreneurial space that are like rock stars to me.

Three weeks ago, one of my heroes emailed me out of the blue.

I had never met him before but apparently he had heard about the Dentalpreneur Podcast and asked if I thought he would be a good fit for my audience. My response… “YES!!”

In this episode of the Dentalpreneur Podcast, I interview Mike Michalowicz, author of The Pumpkin Plan, The Toilet Paper Entrepreneur and Profit First.

After I got over being a bit star struck, we had a great chat about business, specifically PROFIT.

During our conversation we covered:

  • How to restructure your business to ensure that you can “afford” your expenses
  • The simple strategy that will clarify the way that cash flows through your practice
  • The easiest way to make your practice more profitable
  • The biggest mistakes that entrepreneurs and business owners make when allocating business expenses
  • The importance of keeping your ego in check and following a plan when things are going well
  • The specifics for digging yourself out of a hole following a downturn

Connie’s contact information is:

Connie Jacox – Founder / CEO of BLBK Solutions
website : https://www.blbksolutions.com/about
phone : 360-524-3232
Email : info@blbksolutions.com

EPISODE RESOURCES




175: Your Last Day of Clinical Dentistry

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clinical dentistryImagine it’s your very last day of clinical dentistry.

You rack your handpiece, take your foot off of the rheostat and walk out of the operatory.

You’ve finally finished a chapter of your life that’s been decades in the making…

Now what? (Hint: I’m not just talking to late career dentists)

In today’s episode of the Dentalpreneur Podcast, I answer this question posed by a listener who is facing the above scenario, well before his time.

In just his early forties, Dr. Will’s doctors suggest that he finds a second career, because within three years, he will likely be physically unable to continue to practice dentistry.

During this episode, I discuss:

  • Whether or not selling your practice at its peak is the best plan for early retirement from clinical dentistry
  • The options open to any dentist once his or her clinical career comes to an end
  • Several different potential avenues to replace clinical production
  • “Low impact Dentistry” and how to integrate it into your practice
  • Why focusing on overhead and cash flow could be the most important practice to master when you are preparing for transition out of clinical dentistry

EPISODE RESOURCES




174: Effective Associate “Onboarding”

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AssociateWhat is your current method for training an incoming associate doctor?

For most practices, training a doctor that’s new to the practice involves nothing more than throwing them in to a full schedule and seeing if they sink or swim.

In this episode of the Dentalpreneur Podcast, Kiera Dent (DSI’s chief in-office implementer and Regional Manager for Flagship Dental Group) and I discuss our process for on-boarding a new dental associate.

Specifically, we discuss:

  • How a structured, high level process allows new grads to quickly develop their practice management and clinical armamentarium
  • The importance of calibrating a new doctor with the owner’s preferences and expectations early on in the relationship
  • How to overcome the challenges of hiring a seasoned doctor that is resistant to change
  • How to align practice philosophies in order to avoid future bottlenecks and conflict in your dental practice

EPISODE RESOURCES




173: Exponential Growth- It Ain’t All Sunshine and Rainbows

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“Nothing worth having comes easy.”

This eternally appropriate quote comes from Theodore Roosevelt and it’s a mantra that I’ve become accustomed to since I embarked on my journey of multiple practice ownership.

In this episode of the Dentalpreneur Podcast, my partner, Dr. Mark Davis and I riff about some of the challenges and insights that we’ve encountered so far in our quest to create an exceptional dental group.

During our discussion we cover:

  • The number one barrier to growth that most dentists face when expanding their group
  • How to find the right candidates for acquisition
  • Structuring your entity legally and the importance of doing this correctly from the beginning
  • How to find motivated sellers that are willing to finance the transition
  • How to create win-win scenarios that benefit the seller and buyer

EPISODE RESOURCES