Bulletproof Dental Practice

Text ‘bulletproof’ to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit on October 12-13th 2018 in Atlanta!   Bulletproof Dental Practice Podcast Episode 67 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dr. Gregg May, 10X Dental   Watch full video of the interview by clicking here!   Key Takeaways: The obstacles we overcome make us who we are. When times are tough it’s really easy to isolate. Seek out another dentist who you can talk with and commiserate with. The 10X Dental group is designed to fuse experience from old-school dentist with passion and new technology from younger, up-and-coming dentists. When dentists get challenged they tend to revert back to dental terminology. You’ve got to talk in plain English. Always use patient-friendly language. 10X Dental Group is also about sharing leadership skills. Accountability is key. You need people to hold you to the fire. Mastermind Groups are great for finding like-minded people to relate to and share best practices. Sometimes “more” can make you really unhappy. There’s more to running a dental office than ever before, not least of which is creating office culture. The bigger you get the larger the expectations of you are.   References: The Power of NOW by Eckhart Tolle   Tweetables: We all crave context. – Dr. Craig Spodak Don’t resent the process. – Dr. Craig Spodak Real happiness is in the solving of problems. – Dr. Craig Spodak We must all suffer from one of two pains: the pain of discipline or the pain of regret. - Jim Rohn It’s not the “what’s next,” it’s the “what’s now.” – Dr. Gregg May

Text ‘bulletproof’ to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit on October 12-13th 2018 in Atlanta!   Bulletproof Dental Practice Podcast Episode 65 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dr. Scott Leune, Founder & CEO of Breakaway Practice & Dental Whale   Watch full video of the interview by clicking here!   Key Takeaways: Most DSO’s don’t allow for the dentist to work with them to continue growing their business. Breakaway Practice provides DSO infrastructure to provide partnership and value for practice owners. Breakaway Practice wants to take the best from corporate infrastructure has today and make it available to a private dentist through a partnership. Traditional DSO’s are a great benefit for new grads who want guaranteed salary with a lot of CE and ability to move around the country. Practice sale strategy all depends on the specific wants and needs of the selling dentist. Most Breakaway dentists are entrepreneurs who want multiple locations. 7 out of 8 practices should not be purchased by someone who wants to own multiple locations. Invest in training, coaching, and learning if you’re interested in owning multiple locations. It’s a lot of hard work and isn’t for most people. To get a really high EBITDA multiple you must own lots of locations with a ton of infrastructure and a solid path to continue rapid growth. Leune has found there’s a tipping point at 11 days being booked out, profits start going down and no-shows start going up. Once you’re at that tipping point you have a problem and must fix whatever is holding back the schedule. January-March are the best months of the year for acquiring new patients, cost-wise. August is also good. Worst times for marketing are December, April-May, and September. Dentists need to strive for both clinical AND business excellency. Specialists are in the hardest position right now, as GP’s are taking over more and more of their business. If you’re doing what you love and making a good amount of money, perhaps there’s no reason to change or do anything different. Not everyone has to be the CEO. If you do what’s right for the patient, create a really good value-based practice, and have a good following there’s plenty of room for you to be successful in the future. Figure out the “why” first so you don’t end up going down the wrong path. Once you’re clear in your decision making, decisions aren’t that hard.   Tweetables: Innovation comes from pain, and not giving up. – Dr. Scott Leune It’s so much easier to make a decision when there’s purpose behind it. – Dr. Scott Leune

Text ‘bulletproof’ to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit on October 12-13th 2018 in Atlanta!   Bulletproof Dental Practice Podcast Episode 63 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dr. Mark Costes, Founder of Dental Success Institute   Key Takeaways: There’s no one right model for setting up a dental practice, it must be tailored to the owner’s goals and the specific geographic area. Boulden predicts the rise of the “Super GP,” a dentist who has skills and training to do more services than they have traditionally. Less will be referred out. Technology is allowing a wider range of dentists to practice a wider range of skills. “The grass is greener” is always psychology. Most dentists don’t have a business. If you’re not making more than 30% as dentist owner then it’s a glorified job.

Text ‘bulletproof’ to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit on October 12-13th 2018 in Atlanta!   Bulletproof Dental Practice Podcast Episode 62 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Uche Odiatu, keynote speaker, author, wellness expert   Watch full video of the interview by clicking here!   Key Takeaways: Uche integrates total health wellness within his busy dental practice. Probiotics are now acknowledged by mainstream medicine. Probiotics are live organisms that supplement your diet. If you’re eating the right food you don’t need probiotics, but up to 90% of people are not eating the right food. Probiotics have been proven to prevent sickness in trails with extreme athletes, so their benefits for anyone with a stressed immune system can benefit. 85% of CEO’s of Fortune 500 companies exercise 3-4 times per week. 15% of the average North American population exercises. Fit people have an attenuated response to stress. Keeping up with regular exercise helps your body and mind slow down. The goal of exercise isn’t to get in shape, it’s to change your life and stay there. Find successful people to model yourself after. The lack of serotonin causes depression. 90% of serotonin is made in your gut, from food. The fundamental, #1 food for your body is fiber. Exercise is an independent factor that affects your gut flora. It balances and brings homeostasis to every one of your neurotransmitters. To get smarter, exercise and eat fiber. If you want to lead you need to do things to increase energy, have abundant thinking, and have good reaction to stress. You can’t buy great physical condition. Its an expression to the world of your standard for your body. Morning routines are key for setting a great tone for your day. Comparing yourself with others is not good, being grateful for what you have is important. One thing you can do to start improving your life is to act on one thing you heard that resonated with you. Celebrate, don’t analyze.   References: Align Probiotic Supplement The Mind-Gut Connection by Emeran Mayer The Microbiome Solution by Robynne Chutkan MD The Subtle Art of Not Giving A F*ck by Mark Manson Exercise – When Less is More with HIIT!!! By Dr. Uche Odiatu   Tweetables: Time flies for people who aren’t paying attention. – Dr. Uche Odiatu The quality of your life depends on the quality of your communication. – Tony Robbins No one is an overnight success. – Dr. Craig Spodak Gratitude is the master emotion. – Dr. Craig Spodak Comparison is the thief of joy. – Theodore Roosevelt

Text ‘bulletproof’ to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit on October 12-13th 2018 in Atlanta!   Bulletproof Dental Practice Podcast Episode 61 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Garrett Gunderson, author & founder of Wealth Factory   Watch full video of the interview by clicking here!   Key Takeaways: Wealth Factory is a personal wealth management company with a specialized focus for entrepreneurs in dentistry. Garrett co-authored a new book, called “5 Day Weekend.” Look for it on shelves everywhere! “The 4 Hour Workweek” is more about outsourcing and frugality. “5 Day Weekend” focuses more on keeping more of the money you make, learning to make more money as an individual, growing your money, and investing back in yourself. Dentists got screwed with the new tax change because they’re service-based professionals. Dentists won’t get the pass-through deduction. Two major things when it comes to taxes: You should have an accountant to get tax deductions. The biggest way to save tax is to reclassify your income which comes from attorneys. If your attorney isn’t a tax attorney, you will be spending too much money. Every three years you should get a different set of eyes on your taxes. You have three years to amend. If you’ve done any R&D or domestic production. This includes CEREC manufacturing, training, software research, etc. These deductions are additional money you could be leaving on the table. Do a cost segregation on any property you own. Saving tens of thousands of dollars on taxes is like ten years of investing. The two main factors of income reclassification are: How can you take your active income and classify it as passive income? You’ve created unique processes and intellectual property. Set up a separate company as an intellectual property company. Then pay that company 15% to use that proprietary intellectual property. How do you take ordinary income and classify it as capital gains income? Create captive insurance agencies. If you do it right, you can put money in pre-tax and create various insurance protections to sell back to your practice. The money taken out is considered capital gains and has better tax benefits. You can ensure actual business risks. If you can’t sock away $300,000 it’s not worth doing. You can drop your tax rate to 4% if you choose to live in Puerto Rico for at least 4 months of the year and be outside the US for at least 6 months. If you have a company event at your home or personal property you can pay yourself rent without claiming it as income. LLC’s that hold real estate that is rented out to your practice count as reclassification of income and have valuable tax incentives. There’s no reason to be overpaying on taxes when it’s legal and ethical to avoid paying certain things. Wealth Factory acts as your personal financial quarterback, and 93% of their clients save significant amounts of money by working with them. Two ideas about 401k’s: Everyone should look at a charitable remainder trust. You can create tax deductions when you sell assets. Even better, look at converting 401k’s to a Roth plan. You have to pay tax when you convert, but if you use a structured annuity where it’s valued at half of the actual 401k. You’ll get a guaranteed future income stream. Make sure you build up enough liquidity. People overemphasize investing and underemphasize saving. You’ll be ahead of 90% of other dentists by learning how to hire bad-ass people, building liquidity, and owning a building.   References: 5 Day Weekend by By Nik Halik & Garrett Gunderson Killing Sacred Cows by Garrett Gunderson Bard Press The 4-Hour Workweek by Tim Ferriss America’s Best 401k   Tweetables: Automatically save and deliberately invest. – Garrett Gunderson

Text ‘bulletproof’ to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit on October 12-13th 2018 in Atlanta!   Bulletproof Dental Practice Podcast Episode 60 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Debra Englehardt-Nash   Watch full video of the interview by clicking here!   Key Takeaways: Private practice dentistry is NOT going to go away. We must learn how to stop commoditizing our patients. Instead we should learn to value appreciation of our patients. Passionate dentists make great leaders. They create the vision and enlist the help of a supportive team to put that vision in action. When a new patient calls start out asking “inspirational” questions, instead of asking about insurance first. Listen to what the patient wants. Help your team and patients understand how fees are based: Skill required to do it right Time it takes to do it well Materials used so treatment endures Dentistry used to be all about efficiency, now it’s all about experience. Thoughtful approaches take longer, but you end up with a better result. Pre-collect for appointments. It takes the stress off collecting at the end of the appointment and eliminates no-shows. There’s room for all kinds of dentistry, you just have to decide where you want to be. Success is a meandering stream, it’s not a direct line. The business of dentistry is hard work. Consultants are facilitators to help the leader be the difference in the practice. Listening to webinars and podcasts is important, but they can’t replace in-person trainings and meetings. Toil is good for you. Successful people don’t act as victims, they address their own actions that led to where they are. Catastrophes give perspective and help you redirect. You don’t have a lot of time to establish trust, so you better do it quickly. Ask for your patient’s permission before you start offering treatment options. 70% of the reason why patients don’t follow through with treatment is because the treatment wasn’t explained well enough and they were released too soon to talk about money and they weren’t ready to commit. Dentists often settle for way too little when choosing members of their team. Olympics are won by 1/10th of a second. That extra 10th of a second could be that one thing that moves you forward faster.   References: American Academy of Dental Practice Extreme Ownership by Jocko Willink   Tweetables: It’s the head of the fish that always smells first. – Benjamin Franklin People who get frozen in fear will never get a win. – Debra Englehardt-Nash You have to believe to be believed. – Debra Englehardt-Nash Whether you’ve spent $400 or $4000, if you’re not happy you’ve spent too much. – Debra Englehardt-Nash Change your modalities and you might get a different result. – Debra Englehardt-Nash The dentist’s fear is holding back dentistry. – Debra Englehardt-Nash Life’s too short to be unhappy. – Debra Englehardt-Nash Happiness is in the solving of problems, not in the absence of them. – Dr. Craig Spodak If you’re going to ask your team to be a cheerleader, you better give them something to cheer about. – Debra Englehardt-Nash The chokehold on any business is always the psychology and skill set of the owner. – Dr. Craig Spodak The culmination of many small successes is a massive win. – Dr. Craig Spodak

Text ‘bulletproof’ to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit in fall 2018! Bulletproof Dental Practice Podcast Episode 59 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Darren Shaw, owner of Whitespark Watch full video of the interview by clicking here! Key Takeaways: Google has been ramping up their local SEO features so they can improve their local ad sales. Google posts are new and allow you to push out more content. They expire weekly so you need to stay current with new content. Google Q&A allows you to address some of the most frequent FAQ’s right in google search. Google Insights show who has clicked through to your website, who has called you, etc. Engagement metrics are real. The more engagement you get with your google content the better you will show up in search. Add videos, posts, attributes, etc. What makes up a good local search strategy? Get your Google & Google My Business listings are correct. Make sure your primary category is accurately reflecting what you do. Citations are your online business listings on Yelp, Yellow Pages, etc. Make sure these are all accurate. Make sure there are as many out there as possible. Shoot for 80+ listings. Reviews are super important for ranking and conversion benefits. If you are doing a review ask, coax a little bit to mention the specific service they had. Those keywords really help you rank better for those terms in local SEO. Website in local search comes down to how much content you have. Basic blurbs will not help you rank. Make sure you build out your content. Links help with local search as well. This is often done through sponsorships, community outreach and support. These are easy ways to get other sites to link to you. Local sponsorships are one of the best ways to get local links. To find: search in google: “intitle:sponsors ‘YOUR CITY’”, will give you a whole list of local sponsors. Vendors are also usually high-authority links. Find vendors of yours who list their local customers and find a way to get a link listed on their site. Yelp continues to be a challenge for many small businesses. You’re not allowed to ask for reviews. Yelp wants all reviews to come in naturally. It’s also of no value to ask for Yelp reviews. Their filters are very strict, only active Yelp users will have reviews that are shown. Yelp actively endorses a check-in offer, which is a GREAT way to bypass Yelp’s “don’t ask” policy. Any patient who checks in and takes you up on the offer will be encouraged to leave a review. Put the check-in offer on Google posts, send via email, put up a sign, promote as much as you can. CLICK HERE FOR MORE INFO. Another Yelp hack – make a new Gmail account, take your entire patient email list and put it into that Gmail contact list, then run through “find my friends” on Yelp, and it’ll tell you who is active. Facebook allows you to create custom segments by uploading your existing patient list. Promote new services, show them what’s new, etc. Website is a great opportunity to keep adding detailed content. Video is important. Talk about your services and upload on your website, YouTube, social media, etc. Google local pack – these are the top results that show up at the right side of the page when you search for a local business. It went from 10 businesses, to 7, now it’s 3. It doesn’t exist within an entire city anymore. Google filters based on the proximity of the searcher. You’ll generally show up within 5-10 miles of your business. The way to slightly break out of the proximity search is to buy local pack ads. Google guarantees some home repair related industries. The listings are paid for and business who participate must be screened. Another opportunity to rank organically is to build out city/neighborhood pages on your website. Build a page on your site that talks about local neighborhoods and how your office has helped with patients in that area. This helps draw in organic ranking results from outside your 10-mile radius. CLICK HERE FOR MORE INFO.   References: Steady Demand Whitespark Local Citation Finder Whitespark Reputation Builder

Text ‘bulletproof’ to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit in fall 2018!   Bulletproof Dental Practice Podcast Episode 58 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dr. Tarun Agarwal, owner/dentist Raleigh Dental Arts, owner T-Bone Speaks   Watch the full video of the interview by clicking here!   Key Takeaways: Make sure you’re not being oversold by predatory companies offering horrible insurance and investment planning. Review your estate plans every couple years. It’s not about how rich or poor you are, it’s about preventing your loved ones from inheriting a storm. The cost of maintaining a healthy office is significantly higher than it was 15 years ago. We should be shooting for profitability in the 10-20% ballpark. Profitability should be based on all your normal expenses, plus the following: Each dentist (including yourself) should be paid as an associate Build in an escrow dollar or percentage amount (2-3%) for future improvements, renovations, and technology gains Interest amount (5%) on capital put into the practice “All things under one roof” – medical and dental – is the future of dentistry. Cottage industry offices as we know them will be displaced in certain environments. Approximately 80% of offices are solo dentists. The believe is within 10 years this number will drop to closer to 50%. If you’re going to stop practicing within the next 10 years you’ll probably be fine. If you’re planning to practice longer than that you will get hit by these changes. Put away money on an annual basis to cover renovations. Make sure you’re getting fulfillment in your professional life, as well as in personal. If you design your business around you and make yourself happy, others around you will be happy as well. Focus on outcomes, not goals. People aren’t doing enough live training. The magic is being around people and interacting with others.   References: Creative Planning Tools of Titans by Tim Ferriss   Tweetables: “Life’s ultimate ROI is fulfillment and happiness.” – Dr. Craig Spodak “What makes people happy is progress.” – Dr. Craig Spodak “Focus on outcomes, not goals.” – Dr. Tarun Agarwal

Text ‘bulletproof’ to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit in fall 2018! Bulletproof Dental Practice Podcast Episode 57 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dan DelMain, owner of DelMain Analytics Watch full video of the interview by clicking here! Key Takeaways: DelMain Analytics is a full-service digital marketing agency. It’s no longer possible to gamify your way to a great digital marketing strategy. Google is humanizing their search engine more and more to reward sites who are giving value to consumers. It’s all about creating the best user experience. The amount of advertising noise is staggering. Voice search is a much more targeted way to search out information. Voice search is evolving into longer conversations. Evolution of internet platforms has been: desktops – laptops – mobile phones – mobile phone voice search – home devices Evolution of SEO has been 7-pack to 3-pack to 1-pack Who are the players in voice search? Siri – Apple Google Assistant – Google Cortana – Microsoft Alexa – Amazon What are people searching for? conversational - what is the cost of Invisalign? proximity - dentist near me hours of operation  insurances accepted 1 in 5 queries on Google are voice searches Chrome is also pushing search traffic to security-rich sites How to optimize your site for voice search mobile friendly/responsive answer FAQ type questions on the website claiming Google My Business profile online reputation social signals/social media schema markup Contact DelMain Analytics and mention Bulletproof Dental Practice, Dan will have a 30-45 phone chat with you and share any tidbits he can recommend! References: Google Mobile Friendly Tool

Text ‘bulletproof’ to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit in fall 2018! Bulletproof Dental Practice Podcast Episode 56 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Elijah Desmond Watch full video of the interview by clicking here! Key Takeaways: There is a commonality in all successful people. It’s hunger for more. If you aren’t making mistakes or haven’t made one in the last year, you are playing it too safe. Elijah Desmond runs a Facebook page called Trapped in an Op for those professionals who want to venture from the traditional clinical setting in dentistry. The main issue dental teams are suffering from is drama. Either you have the wrong people or the wrong culture in the office. If you are lacking alignment how can you work well as a team? Everyone is a consultant these days. Business owners are more self conscious than ever with social media outlets being readily available with information. Stop listening to everyone else. Focus on your goals and what you want out of your career. There is currently a changing of hands. The older generation is passing the baton and a new generation of influencers is rising. What is the reason why you entered in this profession? For most, the number one reason to be in this profession is to make people smile. Focusing on the big picture and changing lives What is your hygienist supposed to do? Focus on complete oral health Don’t brush off hygiene checks this is where treatment is converted! You have already established a connection with these patients. They more likely to agree to recommended treatment with the help of your hygiene team. Dental Intel will track which Doctor/Hygienist work best together in converting over treatment. Mention Bulletproof Dental Practice and sign up for Dental Intel w/no activation fee. Tweetables: “Magic is hard work.” – Dr. Craig Spodak “Motivation and determination without procrastination is the key to success.” – Elijah Desmond “The way you get to the top is by helping other people get there too.” – Dr. Craig Spodak