The Bulletproof Dental Podcast Episode 368 HOST: Dr. Peter Boulden GUEST: Dr. Trey Tippit DESCRIPTION In this episode, Peter and Trey share strategies for dentists to thrive in a competitive market. They discuss the importance of presence, training, and continuous growth, emphasizing the need to decentralize operations and enhance patient experience. Key topics include handling criticism, the value of having A-players on your team, and the distinction between leads and service quality. They explore themes such as financial success, game theory in business, setting goals, and fostering a positive culture. The conversation highlights the significance of appreciation, clarity, continuous learning, healthy competition, and knowledge sharing. Tune in to discover how mindset and collaboration drive success! TAKEAWAYS Building a strong presence is crucial for success. Training is a key component in differentiating oneself. Decentralizing operations can mitigate risks in practice management. Planning for future growth is essential in practice development. Focusing on the quality of service is more important than just acquiring leads. Implementing the three Rs can significantly improve patient retention. Game theory can be applied to business metrics, including money, as a way to measure the efficiency of running a business. Setting goals and incentives can motivate and drive performance in a team. Culture plays a crucial role in team performance, and toxic behavior can negatively impact the overall culture. Attracting and retaining top talent is essential for the success of an organization, and creating a positive work environment can help in this regard. Marketing efforts can be used to attract top talent by showcasing the benefits and positive aspects of working in an organization. Appreciate and value the work of others CHAPTERS 00:00 - Introduction and Context Setting 03:23 - Building for the Future 06:14 - The Role of A-Players in Growth 09:32 - Continuous Growth and Shedding Old Skin 12:19  - Handling Criticism and Haters 21:16 - The Three Rs: Reappoint, Refer, Review 29:31 - Applying Game Theory to Business Metrics 30:55 - Setting Goals and Incentives for Performance 36:30 - The Impact of Culture on Team Performance 43:49 - The Need for Top Talent in an Organization 47:16 - Creating a Positive Work Environment 52:04 - Appreciation and Lack of Appreciation 58:35 - Embracing Healthy Competition 01:02:05 - The Power of Sharing Knowledge   REFERENCES Bulletproof Mastermind Bulletproof Summit Bulletproof Real Estate  

The Bulletproof Dental Podcast Episode 367 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak DESCRIPTION In this conversation, Peter and Craig discuss the importance of challenging limiting beliefs and the power of mindset in achieving success. They talk about the impact of social media on self-beliefs and the need to be aware of the tapes playing in our heads. They also discuss the concept of mental rehearsal and how it can help in achieving goals. The conversation highlights the importance of having a compelling why and being clear about what you want in order to achieve success. They also touch on the regrets of the dying and the need to live a life true to oneself. In this conversation, Craig and Peter discuss the importance of clarity and writing down goals. They reflect on the impact of the book 'The Secret' and the power of manifesting through writing. They also share their experiences with leadership and the need to get out of the way to allow others to thrive. The conversation touches on the value of being part of a supportive network and the benefits of passive real estate investments. They end with a reminder to focus on clarity and the upcoming Bulletproof Summit. TAKEAWAYS Challenge limiting beliefs and be aware of the tapes playing in your head. Use mental rehearsal to visualize success and overcome anxiety. Have a compelling why and be clear about what you want to achieve. Live a life true to yourself and avoid regrets. Writing down goals creates self-accountability and helps bring them to life. Leadership involves having a clear vision, finding the right people, and getting out of their way. Being part of a supportive network can help in personal and professional growth. Passive real estate investments can provide a steady stream of income and financial security. Clarity is key in achieving success and fulfillment in life. CHAPTERS 00:00 - Introduction and Craig's Broken Nose 01:55 - The Power of Mindset and Limiting Beliefs 05:35 - The Impact of Social Media on Self-Beliefs 08:13 - The Importance of Mental Rehearsal 11:06 - Having a Compelling Why and Clarity in What You Want 14:13 - Living a Life True to Yourself and Avoiding Regrets 30:20 - The Power of Writing Down Goals 34:25 - Leadership: Vision, People, and Getting Out of the Way 37:42 - The Value of a Supportive Network 45:15 - The Benefits of Passive Real Estate Investments 50:42 - The Importance of Clarity REFERENCES Bulletproof Mastermind Bulletproof Summit Bulletproof Real Estate  

The Bulletproof Dental Podcast Episode 366 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUEST:  Chandler Wrightenberry DESCRIPTION In this conversation, Peter, Craig, and Chandler discuss various topics related to interest rates, investing, and borrowing money. They touch on the Federal Reserve's recent meeting, the impact of interest rate changes on borrowing costs, and the current state of the labor market. The conversation highlights the importance of data-driven decision-making and the potential benefits of owning commercial real estate as a dentist. Chandler from Live Oak Bank joins the conversation and shares statistics on the success rate of dental practice loans. They also discuss the average growth rate of practices after expanding or building a new facility. The conversation highlights the importance of education, self-awareness, and finding a supportive network in overcoming the fear of taking on financial risks. They also emphasize the value of building a strong relationship with a lender who understands the dental industry. TAKEAWAYS Lower interest rates can make it a good time to invest in oneself, such as buying a practice or expanding a dental office. Data-driven decision-making is crucial when considering investments and taking on debt. Owning commercial real estate can be advantageous for dentists, as it allows for potential appreciation and tax benefits. Taking calculated risks and betting on oneself can lead to long-term success. Align gut instincts with financial analysis when considering practice growth opportunities. Live Oak Bank has a high success rate for dental practice loans, with only a small percentage of loans going bad. Expanding or building a new facility can lead to an average growth rate of 25% in the first year. Overcoming the fear of taking on financial risks requires education, self-awareness, and finding a supportive network. Building a strong relationship with a lender who understands the dental industry is crucial for successful financing. CHAPTERS 02:01 - The Wilmington Confusion 04:11 - The Fed's Goal and Real Rates 06:15 - Investing in Acquisitions and Real Estate 09:09 - The Relationship Between Interest Rates and Valuations 11:20 - Investing in Yourself and Taking Calculated Risks 15:49 - The Tax Efficiency of Loans and Investments 19:04 - The Benefits of Owning Commercial Real Estate 21:12 - Balancing Gut Instincts and Financial Analysis 23:14 - The Growth Potential of Expanding or Building a New Facility 26:34 - Overcoming the Fear of Financial Risks in Dentistry 30:43 - The Importance of a Strong Relationship with a Dental Lender REFERENCES Bulletproof Mastermind Bulletproof Summit Live Oak Bank  

The Bulletproof Dental Podcast Episode 365 HOSTS: Dr. Peter Boulden, Dr. Craig Spodak and Dr. Uche Odiatu DESCRIPTION In this episode, Peter, Craig, and Uche discuss the importance of nutrition for dentists and how to make healthier food choices. They touch on the benefits of intermittent fasting, the significance of genetic testing for cardiovascular and cognitive health, and the value of regular medical tests to assess overall health. The conversation also touches on the significance of the microbiome and the potential benefits of probiotics. They also talk about the role of hydration and the benefits of drinking enough water. Uche shares his lunch box essentials, including fruits, vegetables, and high-fiber protein bars. They also touch on the topic of detoxification and the impact of a healthy diet on body odor. The conversation concludes with a discussion on the importance of mitochondria and energy production. In this final part of the conversation, they discuss the importance of physical fitness as a sign of success and the ultimate flex. They also mention the upcoming wellness retreat and the benefits of improving clinical skills and overall health. The conversation ends with a discussion on supplements, sleep, and the importance of a low resting heart rate. TAKEAWAYS Making small changes in nutrition can have a big impact on overall health. Meal planning and packing a healthy lunch can help dentists avoid unhealthy fast food options. Stress can affect liver health and cholesterol levels. Intermittent fasting can be a short-term fix for metabolic dysfunction. Regular medical tests, such as the oral glucose tolerance test and ALT test, can help assess overall health. Genetic testing can provide valuable insights into an individual's health risks and help in making informed decisions. A healthy lifestyle, including proper nutrition and exercise, plays a crucial role in preventing diseases. Seed oils, such as canola oil and vegetable oil, can be harmful to health and should be avoided. The microbiome has a significant impact on overall health, and maintaining a healthy gut is important. Drinking enough water is crucial for hydration and overall health. Aim for at least a gallon of water per day. Include fruits, vegetables, and high-fiber protein bars in your lunchbox for a nutritious and satisfying meal. A healthy diet can improve body odor and reduce the need for deodorants. Improving clinical skills and overall health can lead to better outcomes. Supplements like magnesium and creatine can support overall health. Quality sleep is essential for muscle growth, fat loss, and overall well-being. A low resting heart rate is a sign of a healthy heart and cardiovascular system. CHAPTERS 00:00 - Introduction and Overview 02:13 - The Power of Small Changes in Nutrition 06:26 - Meal Planning and the Importance of Packing a Healthy Lunch 08:00 - The Impact of Stress on Liver Health and Cholesterol Levels 18:02 - Intermittent Fasting as a Short-Term Fix for Metabolic Dysfunction 23:08 - Genetic Testing for Cardiovascular and Cognitive Health 27:51 - The Value of Regular Medical Tests for Overall Health 36:09 - The Dangers of Seed Oils 49:47 - Understanding the Microbiome 50:12 - The Potential Benefits of Probiotics 52:08 - The Importance of Hydration and Water 56:14 - Detoxification and Body Odor 01:01:23 - The Role of Mitochondria in Energy Production 01:10:59 - The Ultimate Flex: Physical Fitness as a Sign of Success 01:12:05 - The Benefits of Supplements and Quality Sleep 01:13:23 - The Importance of a Low Resting Heart Rate   REFERENCES Bulletproof Summit Bulletproof Mastermind Bulletproof Health Dr. Uche Odiatu

The Bulletproof Dental Podcast Episode 364 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUEST:  Randy Smith DESCRIPTION In this conversation, Craig and Peter interview their friend Randy Smith. They get into a discussion about real estate, with Randy sharing his expertise as a financial guru. Randy emphasizes the importance of owning real estate as an alternative investment and explains the benefits of investing in real estate. He also discusses the current state of the real estate market, including the impact of interest rates and the opportunities for value-add deals. The conversation concludes with a discussion about the upcoming Fed meetings and the potential for investment opportunities in real estate. TAKEAWAYS Real estate is an important alternative investment and offers various benefits, such as cash flow, inflation hedge, and wealth building. The current real estate market presents opportunities for value-add deals, especially with the potential decrease in interest rates. Investors should focus on the basis and return on equity when evaluating real estate deals. It's important to stay informed about the market and be ready to take advantage of investment opportunities. CHAPTERS 03:10 - The Benefits of Real Estate as an Alternative Investment 06:11 - Value-Add Deals: Seizing Opportunities in the Real Estate Market 08:22 - The Impact of Interest Rates on Real Estate Investing 13:08 - Evaluating Real Estate Deals: Focus on Basis and Return on Equity 29:47 - Preparing for Investment Opportunities in Real Estate REFERENCES Bulletproof Mastermind Bulletproof Summit Bulletproof Real Estate Warrior Sailing   

  The Bulletproof Dental Podcast Episode 363 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUEST:  Dr. Dwight Peccora & Dr. Trey Tippit DESCRIPTION In this episode, the hosts discuss the concept of lifestyle creep and its impact on dentists' ability to retire. Overall, the episode emphasizes the need for dentists to be proactive in managing their finances and making smart financial decisions. The speakers emphasize the need to have a minimum size practice that covers expenses and allows for investment. The conversation also touches on the concept of FOMO (fear of missing out) and the negative impact it can have on financial decisions. The main themes include the importance of turning a practice into a self-sustaining business, the need for financial discipline and saving, the value of taking calculated risks and seeking mentorship, and the significance of surrounding oneself with a supportive team. The conversation also touches on the challenges of scaling a practice and the potential benefits of partnerships. Overall, the speakers emphasize the importance of continuous learning, growth, and adaptability in the dental industry. TAKEAWAYS Lifestyle creep can hinder dentists' ability to retire on time Financial independence is achieved when passive income covers expenses Controlling spending and investing wisely are key to building wealth Set boundaries and prioritize work-life balance Avoid making financial decisions based on FOMO Surround yourself with like-minded individuals and hold each other accountable Consider the potential impact of interest rate cuts on investments. Turn your dental practice into a self-sustaining business that generates entrepreneurial profit. Seek mentorship and learn from experienced professionals in the industry. Be adaptable and open to partnerships as a means of scaling your practice. Continuously learn, grow, and evolve in the dental industry. CHAPTERS 00:00 - Introduction and Discussion on Lifestyle Creep 09:13 - Defining Financial Independence and Passive Income 13:26 - Factors Affecting Dentists' Ability to Retire 19:22 - The Role of Leverage and Alternative Investments 22:03 - Importance of Measuring and Tracking Expenses 26:14 - Setting Boundaries and Prioritizing Work-Life Balance 29:40 - Avoiding Financial Decisions Based on FOMO 31:30 - The Importance of Accountability and Like-Minded Connections 46:45 - Building a Self-Sustaining Dental Practice 50:11 - The Importance of Financial Discipline and Saving 54:17 - Taking Calculated Risks and Seeking Mentorship 56:06 - The Value of a Supportive Team 01:03:27 - Scaling a Practice through Partnerships 01:08:30 - Continuous Learning and Growth in the Dental Industry REFERENCES Bulletproof Mastermind Bulletproof Summit  

Darren Shaw, a local SEO expert from Whitespark.ca, shares invaluable insights for dentists looking to enhance their online presence. He emphasizes the critical role of optimizing Google Business Profiles and the importance of soliciting reviews. Image and video optimization, particularly on platforms like YouTube, are highlighted for better engagement. Darren also discusses user behavior tracking with Microsoft Clarity, and how mobile optimization is now a must. In the rapidly evolving landscape of dental marketing, these strategies could transform how practices attract and engage with patients.

The Bulletproof Dental Podcast Episode 361   HOSTS: Dr. Peter Boulden, Dr. Craig Spodak GUEST: Shreyas Parab   DESCRIPTION In this conversation, Peter and Craig interview Shreyas Parab, an AI specialist, about the applications of AI in dentistry. They discuss the potential for AI to increase efficiency in various areas, such as revenue cycle management, chart notes, and phone calls. They also explore the idea of using AI to interact with insurance companies. They explore the benefits of AI receptionists, automated insurance verification, and claims processing. They also discuss the concept of a decentralized DSO and the use of AI in improving operational efficiency. The conversation highlights the importance of leveraging technology to enhance the patient experience and alleviate the burden on dental teams. Overall, the conversation emphasizes the positive impact of AI in dentistry and the potential for growth and innovation in the field. TAKEAWAYS AI can be used to increase efficiency in various areas of dentistry, such as revenue cycle management and chart notes. Using AI for phone calls, especially for interactions with insurance companies, can save time and reduce frustration for dental practices. AI is not meant to replace humans, but rather to augment their abilities and allow them to focus on tasks that require a human touch. AI can be used to automate various tasks in dentistry, such as receptionist duties, insurance verification, and claims processing. A decentralized DSO model, supported by AI technology, can level the playing field for solo dental practices. The rising tide of AI in dentistry can benefit the entire industry by sharing knowledge and improving processes. The potential of AI in dentistry is vast, and it offers opportunities for growth and innovation. CHAPTERS 00:00 - Introduction and Background 03:11 - The Energy and Mindset of the Bulletproof Community 06:02 - Understanding Large Language Models (LLMs) 09:28 - Applications of AI in Dentistry: Revenue Cycle Management 13:43 - Automating Phone Calls and Interactions with Insurance Companies 20:45 - Addressing Bottlenecks in Dental Practices with AI 25:20 - The Future of AI in Dentistry: Outbound Calls and Insurance Interactions 29:19 - The Benefits of AI in Dental Operations and Patient Care 34:58 - Automating Receptionist Duties 37:45 - The Rise of Decentralized DSOs 42:23 - AI and the Future of Dentistry 48:49 - Selling to a DSO and Decentralization 56:37 - Conclusion and Looking Ahead REFERENCES Bulletproof Mastermind Shreyas Parab  

The Bulletproof Dental Podcast Episode 360   TITLE: Introducing Bulletproof Health with Dr. Uche Odiatu   HOSTS: Dr. Peter Boulden, Dr. Craig Spodak and Dr. Uche Odiatu   DESCRIPTION In this episode, Craig and Peter are joined by Dr. Uche Odiatu to discuss the importance of health and wellness in dentistry. They emphasize the need to prioritize health and fitness, as it is the foundation for success and longevity. The conversation covers various topics related to health and wellness, including the importance of eliminating junk food, the impact of coffee and alcohol on sleep quality, the concept of being your own pharmacy, the negative effects of exogenous substances on the body, the benefits of discipline and self-esteem, the role of cortisol in the body, the importance of prioritizing self-care as a dentist, and the significance of nutrition in overall health.   TAKEAWAYS Health is the foundation for success and longevity in dentistry. Small, sustainable changes in lifestyle can have a significant impact on overall health and wellness. Sleep plays a crucial role in brain health and cognitive function. Light exposure, both in the morning and at night, can affect sleep quality and overall health. Surrounding yourself with a supportive community of like-minded individuals can help you prioritize and maintain your health and wellness goals. Eliminating junk food has a significant impact on overall health and well-being. Coffee and alcohol can negatively affect sleep quality. Being your own pharmacy means relying on your body's natural abilities to heal and function optimally. Discipline and self-esteem are important for long-term health and success. Cortisol plays a role in the body's stress response and can have negative effects if sustained for long periods of time. Prioritizing self-care, including nutrition, is crucial for dentists and other professionals who experience high levels of stress. CHAPTERS 03:01 - The Foundation of Success: Prioritizing Health and Wellness 07:50 - The Power of Small Changes: Making Sustainable Lifestyle Choices 15:36 - Sleep: The Key to Brain Health and Cognitive Function 23:37 - Light Exposure: Managing Your Circadian Rhythm 29:28 - The Importance of Community: Surrounding Yourself with a Supportive Network 34:10 - The Impact of Junk Food and the Importance of Eliminating It 35:37 - Coffee, Alcohol, and Sleep Quality 37:42 - The Importance of Discipline and Self-Esteem 43:25 - Understanding Cortisol and Stress 53:07 - Prioritizing Self-Care for Dentists REFERENCES Bulletproof Mastermind Bulletproofhealth Dr. Uche Odiatu  

The Bulletproof Dental Podcast Episode 359   HOSTS: Dr. Peter Boulden, Dr. Craig Spodak GUEST: Ish Rouf   DESCRIPTION In this conversation, Peter and Craig interview Ish Rouf, who is the C-suite of his wife's private DSO. Ish shares his approach to hiring and developing associates, as well as his perspective on valuing and selling a dental practice. In this part of the conversation, Craig and Ish discuss the importance of understanding the revenue makeup of a dental practice when evaluating it for purchase. They also discuss the importance of clear communication and alignment between dentists and associates when negotiating contracts and expectations. Additionally, they highlight the significance of having comprehensive standard operating procedures (SOPs) and scalable systems in place to ensure the smooth operation and growth of a dental practice.   TAKEAWAYS Hiring associates based on their attitude, willingness to learn, and compatibility with the practice's values can lead to long-term success. Investing in technology and aligning the practice with the right team and systems can increase the value of a dental practice. Understanding the revenue makeup of a dental practice is crucial when evaluating it for purchase. Each dental practice is unique and factors such as services offered, fee mix, systems, culture, and technology can greatly impact income potential. Clear communication and alignment between dentists and associates are essential when negotiating contracts and expectations. Comprehensive standard operating procedures (SOPs) and scalable systems are important for the smooth operation and growth of a dental practice. Focus on simplicity, automation, and smooth operations in your dental practice. Profitability is important, but also strive for power and efficiency. Consider implementing accrual accounting to align spending and payment dates. Have visibility into every aspect of your practice for better decision-making. Set goals and incentives for your team to drive productivity and growth. CHAPTERS 00:00 - Introduction and Cultural Differences 05:26 - Ish's Background and Entry into the Dental Space 12:09 - Hiring and Developing Associates 14:02 - Valuing and Selling a Dental Practice 20:07 - Investing in Technology and Aligning the Practice 25:26 - Understanding Revenue Makeup in Dental Practice Evaluation 29:15 - Clear Communication and Alignment in Contract Negotiations 31:13 - The Significance of Comprehensive SOPs and Scalable Systems 36:18 - The Importance of Migrating to Enterprise-Grade Systems 51:11 - The Power of Simplicity and Automation 55:26 - Creating a Smooth and Efficient Operation 57:29 -  Setting Goals and Incentives   “The easier it is for you to run your business, the easier it is for someone to want to buy it. Additionally, the smoother the operation, the lower the likelihood you’d want to sell it. People love to sell their problems, not their opportunities.” -Dr. Craig Spodak    REFERENCES Ish’s Multiple Ladder 3 - Industry premium (dental)  1 - Year-on-year profitable, with 10% investor return  1 - Group practice with SOPs in place  1 - Multi-state practice with compliance in place  1 - Corporate function already established  2 - Enterprise-grade financial accounting  1 - Centralized reporting and forward-looking analytics  1 - User-/persona-level reporting  1 - Future-proof tech stack  1 - Integration playbook, diligence team, and rollout team  1 - Internal training and coaching library with LMS system  1 - Centralized procurement  1 - Centralized call center  0.5 - Strong recruitment pipeline  0.5 - No key person risk   Bulletproof Mastermind Ish Rouf