The Very Dental Podcast Network Very Clinical: Practice or Business?
Kevin and Zach welcome Alan back to discuss the world of business and entrepreneurship within dentistry. They begin by reminiscing about their childhood "businesses," which leads to a discussion sparked by a conversation Alan had with dental entrepreneur Dr. Mark Costes. The group explores the idea that while dentists of their generation could often succeed with a simple practice, the current landscape of high student debt and large dental organizations demands a more business-minded approach. They debate whether an entrepreneurial spirit is something you're born with or can be developed, and they consider the differences between simply owning a practice, running a dental business, and being a true entrepreneur. The conversation highlights the wide spectrum of career paths available in dentistry today, from being a salaried associate to building a multi-office empire.
In this episode of the podcast, hosts Kevin and Zach, along with guest Alan, dive into the world of business and entrepreneurship within dentistry. They begin by reminiscing about their childhood "businesses," which leads to a discussion sparked by a conversation Alan had with dental entrepreneur Mark Costas. The group explores the idea that while dentists of their generation could often succeed with a simple practice, the current landscape of high student debt and large dental organizations demands a more business-minded approach. They debate whether an entrepreneurial spirit is something you're born with or can be developed, and they consider the differences between simply owning a practice, running a dental business, and being a true entrepreneur. The conversation highlights the wide spectrum of career paths available in dentistry today, from being a salaried associate to building a multi-office empire.
Key Takeaways-
Entrepreneurship is a Spectrum: Owning a dental office doesn't automatically make you an entrepreneur. The podcast outlines a spectrum from simply owning a job (a practice that only runs with you there) to having a true business that can function independently, to being a full-on entrepreneur who innovates and scales.
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The Changing Landscape of Dentistry: The hosts acknowledge that their generation of dentists came into the profession during a "golden age" with less debt and more opportunities for practice ownership. Today, with higher student loans and the rise of Dental Service Organizations (DSOs), younger dentists often need to be more business-savvy to succeed as owners.
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Technology and Business: The discussion touches on how technology, like digital dentistry and clear aligners, can be a business decision to add new services and level up a practice. This is presented as a way to evolve from a "drill, fill, bill" mindset into a more diverse and profitable business model.
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Dentistry as a Vehicle: The podcast concludes that dentistry can be a great field for entrepreneurs because it provides a high income that can be used to fund other business ventures, whether within dentistry (like teaching or consulting) or in completely different industries.
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