True Dental Success Institute

Podcast – Dentalpreneur | with Dr. Mark Costes


143: Making Money is Killing your Business

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Making MoneyI know what you’re thinking… what’s up with that subject line?!

I know it sounds counterintuitive, but sometimes focusing solely on revenue generation without considering the “bigger picture” can actually stifle your business.

In today’s episode of the Dentalpreneur Podcast, I interview Chuck Blakeman, best selling business author of the books, Making Money is Killing Your Business and Why Employees are ALWAYS a Bad Idea.

During the interview, we discuss:

  • The 7 Stages of Business Development
  • The difference between Shareholders and Employees
  • The Four Building Blocks of Business
  • Chuck’s definition of “Ambitious Laziness”
  • How to set your “Business Maturity Date” and the positive impact it can have on your legacy
  • How to create your own “Freedom Map”

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142: Forever Eliminate Low Value Activities from your Life

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Tactical TuesdayI just got back from a pretty incredible week spent first in Kingston, Jamaica as a guest lecturer at the University of West Indies, Mona Campus and then in beautiful Montego Bay.

Special thanks to Dr. David Dunning, the Practice Management professor at the University of Nebraska School of Dentistry for the invite and arranging the whole trip up and to Dr. Anissa Holmes, host of the Delivering Wow Podcast,  for showing me around her hometown.

There’s really nothing in the world that I enjoy more than speaking to students and helping to open their eyes to the world of dental practice management and ownership.

In this week’s Tactical Tuesday episode of the Dentalpreneur Podcast, I discuss the benefits of focusing on high value activities and delegating everything else out to a personal assistant.

Specifically, I discuss:

  • How to assess your need for a personal assistant
  • The best way to identify your highest and lowest value activities
  • Which specific resources and books dive deeper into the world of delegation
  • The unexpected growth that can arise when you master the fine art of delegation

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141: Do You Have a Book in You?

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If you’ve ever fantasized about being a published author – about creating something that could be your mark in time, your legacy, but you don’t know where to start, then you need to listen to this episode of the Dentalpreneur Podcast.

In this episode, I interview Patrick Snow, international best-selling author, professional keynote speaker, publishing, speaking and book marketing coach.

During our time together, we discuss:

  • How a book can create authority, trust and enhance your practice
  • The specific strategy for using a book to increase new patient flow and revenue into your office
  • How a literary coach can increase the quality and decrease the amount of time that it takes to get your book published
  • How to use your book to gain the credibility necessary to get speaking engagements and to become a recognized expert in the profession

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140: Swipe and Deploy: Benchmark Calendar

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Tactical-TuesdayOne of the core values in our group of practices is continual improvement and growth.

We strive to accomplish this each month by continuously tracking our adjusted production, collections, new patients and overhead.

In this Tactical Tuesday episode of the Dentalpreneur Podcast, I discuss one of the low-tech tools that we use in order to gauge our daily, weekly and monthly progress, and to maintain our focus as a team.

To learn more about how we utilize our Monthly Benchmark Calendar, and how you can immediately implement this tool into your office, make sure to check out this episode.

Click here for your Monthly Benchmark Calendar

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139: How to Play Dental Practice Money Ball

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139-money-ballIn 2011, Brad Pitt starred in a movie entitle Moneyball–  the true story about  Major League Baseball’s 2001 Oakland Athletics.

2001 was a tough year for the A’s and their manager Billy Beane.

Shortly after losing to the New York Yankees in the playoffs,  they then lost their three biggest stars to free agency.

Beane faced an even bigger challenge with a budget to rebuild his team with of only $39M which was only one third of the budget of much richer teams like the Yankees who had over $120M to attract and retain the best talent.

Beane’s solution?

Maniacal focus on Data and statistical analysis.

As part of his rebuilding process, Beane hired a young Yale grad and statistical genius named Peter Brand.

Together, they came up with the hypothesis that statistics used by baseball insiders such as runs batted in, stolen bases and batting averages were important metrics, but not the most important metrics to gauge the true value of a player… and the players with the best at the conventional stats garnered the most money.

So they scoured the league for players that had high on base percentages and higher slugging percentages (measuring the power of a hitter)- stats that were practically ignored by the traditionalists.

They assembled a bunch of “over the hillers” and underappreciated and unwanted players and outperformed many teams that had 2-3 times their budget.

The team went on to win 20 consecutive games and the 2002 AL West championship with playoff bids in 2002 and 2003.

So what does this have to do with your dental practice?

In this week’s episode of the Dentalpreneur Podcast, I draw the parallel between what Billy Beane and Peter Brand were able to do for the 2001 Oakland A’s and what you can do in your dental practice.

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138: Free Swipe and Deploy: Weekly Practice Progress Report

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Tactical-TuesdayI’m the first to admit that I’ve made just about every mistake that you can make in dental practice ownership and management.

In fact, my organization was so dependent upon me and my work-life balance was so out of whack, that I had to sell four of my first six practices even though they were growing and profitable.

Personally, those were pretty tough times, but the lessons that I learned have allowed me to restructure everything about the way that I run my businesses and life.

As we re-focus on growth (now up to 10 practices in our group) our team now relies on regular, structured meetings, systems calibrated amongst the offices, and a clear vision and plan to accomplish our goals and benchmarks.

In this “Tactical Tuesday,” episode of the Dentalprenuer Podcast, I discuss one of the tools that I use to clarify my expectations with my executive team, improve communication and decrease negativity and drama before it takes on a life of its own.

I’ll discuss:

  • Our Weekly Practice Progress Report and its specifics
  • The importance of integrating the habit of recognition into the core values of any practice
  • The best way to handle negativity and how to brainstorm solutions to overcome challenges
  • The most effective way to encouragement collaboration and problem solving

Click here for your Weekly Practice Progress Report 

EPISODE RESOURCES




137: Assembling Your Bulletproof Billing Department

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How effective is your billing process?

What’s your adjusted production to collections percentage?

In today’s episode of the Dentalpreneur Podcast, I interview the director of my Billing and Accounts Receivables Department, Kelcie Thompson.

Kelcie, who has over fifteen years of experience in the dental profession, personally oversees the accounts in all ten of my dental offices and supervises a team of six.

During our interview, Kelcie sheds some light on how she manages to keep it all straight and shares some of the valuable lessons that she’s learned about dealing with dental insurance companies throughout her career. We discuss:

  • The importance of a comprehensive insurance verification form and how the front and back office teams can best utilize it.
  • How to manage the claim process and the best checks and balances to ensure payment.
  • How to avoid the majority of claim denials and what to do when a denial does take place
  • Why having a dedicated biller away from the from office will greatly increase the effectiveness and efficiency of your collections and billing process
  • And much more!!

EPISODE RESOURCES




136: Tactical Tuesday – Swipe this Review Template for Immediate Results

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Tactical TuesdayWelcome to another episode of the Dentalpreneur Podcast. Today it’s Tactical Tuesday – a new concept designed to delivering an actionable tip or strategy that is immediately implementable.

During this episode Dr. Costes walks us through one of our departmental assessment forms that we use for any and all members that are a part of our dental practice team. This is a tool that will allow you consistency, transparency and collaboration throughout your team members and offices. It will also promote and encourage communication on a regular basis that will guarantee everyone is on the same page regarding their performance, your expectations, how well they uphold to the core values and the level of service they are providing to patients.

This quick tip will help you to develop a system that will help you to:

  • Establish trust and rapport with your patients
  • Improve time management
  • Become a better leader
  • Improve accountability
  • Improve communication with team
  • Identify areas of growth

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135: Eliminate Dental Insurance Forever

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qadeerWelcome to another episode of the Dentalpreneur Podcast.

One of my biggest pet peeves is exaggeration and hyperbole in copywriting.

With that being said, I am extremely optimistic about an innovative company called Pro Care and their accomplished CEO, Qadeer Ahmed.

Qadeer and Pro Care have a vision to completely eliminate dental insurance from the profession and they’ve got the plan and resources to pull it off.

He went on to revamp three technology companies, provide game-changing advice to many Fortune 500 corporations and help another company obtain $1 billion in capital financing offers.

Qadeer’s team is creating what could be a revolution to the profession of dentistry and the way that offices get new patients, get compensated and manage cash flow and overhead.

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134: Bedros Keuilian – Dumpster Diver To Eight Figure Empire

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070-BedrosKeuilianWelcome to another episode of The Dentalpreneur! Joining us today is Bedros Keuilian. Bedros is the founder and CEO of FitPro Newsletter, FitPro Magazine and one of the fastest growing fitness business franchises known worldwide, Fit Body Boot Camp. Today Bedros and I speak about his journey from having a personal mentor/business coach to becoming the high performance entrepreneur he is now. I also share my journey as one of Bedros’ coaching clients and how that experience has made an enormous contribution to my growth and success. Bedros and I speak about the growing popularity and benefits of belonging to a mastermind group. He also shares how he maintains balance in his professional and home life by creating discipline, structure and delegating.

More About This Show:

Bedros came to the United States with his family at the age of six from Armenia. With very meager beginnings, Bedros became a certified personal trainer. While he was working for a big box gym, as a fry cook at a theme park and as a bouncer, a client took a special interest in Bedros and began to mentor him in business and marketing. From this first experience in being coached, Bedros has proven to be a success in not only learning but coaching others and utilizing the concept of mastermind groups to take many entrepreneurs to level after level of success.

In this episode you’ll hear:

  • Why it is important to find a business coach that is relatable to you
  • How delegating tasks can actually get them done quicker
  • Why discipline, structure and delegation are important to work/life balance
  • How to prepare for creating your sidegig while still working full-time
  • Why doing one thing and doing it well is a good business model

Special thanks to Bedros Keuilian for taking time from his busy day to speak with us and thanks to you for you for joining us today. See you next time on The Dentalpreneur podcast!

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