Bulletproof Dental Practice

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 55 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Key Takeaways: Four Pillars of a Bullet Proof Dental Practice Vision and Leadership As a leader/owner of the practice you set the tone You must give your team a road map Be intentional in explaining your goals to your team Make a descriptive vision Self-managing teams Team and Culture Culture is a foundation of a lot of our marketing When your team is happy they are more resourceful Happiness is good for business. Money is the lagging indicator of creating an exceptional experience and exceptional dentistry. Daylight is very important to incorporate in healthcare environments. It affects mood and purchasing decisions. Marketing and Reputation The average person has 318 friends on social media Make sure you are getting mentions Use Hootsuite for tracking all social media channels Facebook is not a form of push advertising Keep your ratio healthy with your posts (funny vs before/after pictures) Seek out social influencers! Accounts that have more than 300,000 followers. Systems and Metrics New patients that visit each month Average dollar amount per visit True practice growth- how much did we grow this month? Click HERE to sign up for Podium w/no activation fees!   References: Delivering Happiness by Tony Hseih The Happiness Advantage: The Seven Principles of Positive Psychology That Fuel Success and Performance at Work by Shawn Achor   Tweetables: “Be the leader you wish you had.” Dr. Craig Spodak “Success without fulfillment is the ultimate failure.” 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 54 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guests: Alan Mead, Dental Hacks Podcast / Brian Colao, Dykema Law Firm   Key Takeaways: Should you have a DSO? If you don’t have a DSO and you’re a doctor owned practice, who can you sell to? You can only sell to other licensed dentists in your state, and that’s a very narrow, deflated market that is getting smaller every day. If you have a DSO your market is the world. A DSO deal with established DSO might pay 5-7x EBITDA and is a low-risk deal. A private equity deal will require ongoing involvement, and is higher risk, so may pay very high single digits to double digits. Private equity deals are performance based. There’s an evolution and consolidation in the dental marketplace. The evolution is from doctor owned single practices to DSO’s. The market is being flooded with private equity funds as it allows non-dentists to make money in the marketplace. The market saturation of DSO’s is about 10%. There is a lot of runway, and the industry is very fragmented. This means that saturation is a ton of value left to harness in the dental market. Seek out education about how the market is changing so you can react and best position your organization. Ten years from now there will be very limited opportunity for solo practitioners. If you have eyes set on being a solo practitioner, you need to understand the transition and have a plan. Only the rock star practitioners will thrive on their own. Patients are becoming more and more demanding. Consumers don’t really care who owns their dental office. DSO’s are in the third generation of progression. The highest valuation in the DSO industry is Deca Dental. 18.2x! DSO’s are trying to implement one-stop shopping. There’s a lot of upside as a practitioner in working within a one-stop shop style practice. It’s not just corporate DSO’s looking to get into the dental marketplace, existing industry suppliers are finding ways to reach consumers directly.   References: The Cleveland Clinic Way by Tony Cosgrove   Tweetables: “Peer pressure makes dentists better.” Dr. Craig Spodak

Bulletproof Dental Practice Podcast Episode 52 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dr. Michael Apa, Partner Rosenthal Apa Group, Founder Apa Aesthetic in Dubai   Text ‘bulletproof’ to 345345 to stay in the know about our upcoming book release and the Bulletproof Summit in fall 2018!   Watch the full video of the interview by clicking here!   Key Takeaways: Apa travels back and forth from New York City to Dubai, focusing on creating amazing cosmetic cases. The small details in dentistry are best answered by people who are doing it in and out every day. Apa figured out how to take a lot of time in planning and prep, so the design and implementation of a case works PERFECTLY with no complications. After so many cases Dr. Apa’s team now works like a symphony. To have such high output you must have the driving passion and dedication. For Dr. Apa the work itself, and seeing patient’s reaction is very rewarding. When you do so much dentistry, you start amassing an audience of people who help to continue propelling you forward. Achievement is a drug that keeps high performers going strong, wanting to do more and more. In dentistry we draw a small box around what we think is the profession, but you can really do anything you want to do. Dentistry lately seems to be focused on the negative; insurance, corporations, debt, etc. Younger dentists are searching out more positive messages. You can’t listen to what is coming down the pipeline, you must find your own will and your own way. Take what everyone says to you, take it in, and exhale and stay true to what YOU want to accomplish. People in the US have a much higher knowledge about what is possible in dentistry. Other areas of the world have great opportunity to educate and train the population – and dentists – on what is possible. To feel the level of passion Dr. Apa has, you must be able to reach the general public. The best way to get patients of any quantity is to reach them where their attention is: social media.   References: Apa Beauty   Tweetables: “Achievement is a drug that keeps high performers going strong, wanting to do more and more.” Dr. Craig Spodak “Dentistry is a snowflake, you can express your vision however you want.” Dr. Craig Spodak “Don’t let anybody tell you what you can and can’t do.” Dr. Michael Apa “Listening to your patients is the best education.” Dr. Michael Apa

Bulletproof Dental Practice Podcast Episode 51 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Blake McClellan, CEO and co-founder of Implant Compare Watch the full video of the interview by clicking here! Text ‘bulletproof’ to 345345 to stay in the know about upcoming book release and Bulletproof Summit in fall 2018! Key Takeaways: Implant Compare live-streams dental education and surgeries. We’re just now discovering the great many capabilities of blockchain, and how it can be applied to everyday life. It’s the algorithm behind bitcoin that is the most powerful. This episode is not investment advice. Bitcoin is a byproduct of a blockchain. Blockchain is a distributed ledger that is decentralized. Every time a transaction happens it’s added to the block. Essentially, it’s an ecosystem of a network of computers that validate every transaction. Decentralizing this process creates a lot more complexity and provides protection against data attacks. Blockchains aren’t just currency, every different algorithm has different applications. The other benefit of using blockchain as currency is it keeps everybody honest. Blockchain is a very fast rapid way to move data in a highly encrypted way. One major benefit of blockchain in dentistry is potential to develop, fast, highly confidential ways to transfer patient files. Applications could also be built to allow practices to share servers & hardware. Phase 2 of blockchain will be around identity management and logistics. The technology is still emerging, and we’re seeing big companies entering the development space. References: Pro Med Sales Vital Signs Technologies Patientory Dentacoin Ethereum Ripple

Bulletproof Dental Practice Podcast Episode 50 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Eric Rea, CEO of Podium Watch the full video of the interview by clicking here!  Key Takeaways: Podium is a reputation management platform, helping to significantly boost your practice’s online reviews, and Podium has funding invested from Google. Podium focused on creating a great experience for the patient. This helps boost conversion rates and gets you more & better reviews. Reviews are made simple, and are targeted to platforms that are most popular with the user and the practice. Podium has access to parts of Google’s API that other competitors don’t, which gives them unique access into how their review system works. Recentness of reviews is important to Google’s algorithm so it’s key to continue getting rave reviews from your patients. User generated content (reviews, social media postings from patients, etc) is a way better predictor of your SEO rank than how many links you have to your website. Google Local Guides carry more weight than other reviewers. To comply with Yelp’s policies of not asking for reviews on their platform, Podium does not solicit reviews for Yelp. The most important platforms for dentists to pay attention to are Instagram/Facebook, Snapchat, and Google. These are the platforms where people spend their time, and they’re all working to integrate other features to become unique ecosystems. Reviews have shifted the marketing equation, you can’t fake real people talking about you online. Video reviews are important for the future, but they’re really hard to sift through. Review platforms haven’t gotten to a place where they make video reviews possible or easy. Voice-activated devices are also key to future marketing. Imagine giving your review to Siri or Alexa! Podiums software will scale and change based on future development from Google. 90% of reputation management companies are NOT recommended by the review platform sites. Making experiences seamless is how companies thrive. Podium is working on a communication platform that allows offices to connect with patients and make communication seamless. Click HERE to sign up for Podium w/no activation fees! References: What yelp’s crackdown on review collection means for your business (and why we stopped collecting yelp reviews over a year ago) Whitespark Tweetables: “Consumers are conditioned to always look at reviews.” Dr. Peter Boulden “Focus on creating an experience for the patient that you would want to have yourself.” Eric Rea “Dentists who take care of their craft and take care of the details are the ones who will succeed.” Eric Rea “If you’re providing massive value, you deserve to be successful.” Dr. Craig

Bulletproof Dental Practice Podcast Episode 49 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dr. Christian Coachman, founder of Digital Smile Design (DSD) Watch the full video of the interview by clicking here! Key Takeaways: The world is moving at a very rapid pace, and it’s each of our responsibility to roll with the change and grow to meet the expanding demands of our patients. Millennials aren’t looking for great products, they’re looking for great experiences. Marketing in dentistry has changed. People now expect a story of what they’re going to experience. You can no longer rely solely on being the best at doing dentistry, you’ve got to be able to connect with patients and show them what’s in it for them. Being good and doing decent dentistry is an obligation, but is not the only thing you need to do to be successful. The human brain has evolved to listen to stories. Make your patient the hero and the guide. The first step in telling your story is to open the communication channels and connect with the emotional side of people’s brains. There are 3 stages to presenting treatment plans with patients; gaining emotional permission, discussing problems, then explaining treatment plan. The DSD concept is about everything to be understood in regard to running a successful practice. DSD focuses on process within patient’s 1st and 2nd appointments; intake, analysis, smile design, treatment planning, treatment presentation, case acceptance, online marketing, and more. Dentists who want to own and operate their own practices are going to need to develop business and marketing skills, because your primary competitor will be a corporation. In order to change and grow with the business of dentistry, first we need awareness about what is coming. Then DSD educations about four moments; design, plan, sell, and perform.   References: Digital Smile Design Building A Story Brand by Donald Miller   Tweetables: “The good guys in dentistry are focused on adding value for patients.” Dr. Craig Spodak “Change is always a constant, growth is optional.” Dr. Craig Spodak “This is a great moment for ambitious people.” Dr. Christian Coachman “Millennials aren’t looking for great products, they’re looking for great experiences.” Dr. Christian Coachman “Storytelling is the biggest skill for this new era.” Dr. Christian Coachman “There’s a point of diminishing returns when it comes to just learning the clinical.” Dr. Peter Boulden “If the patient doesn’t see what’s in it for them – you lose.” Dr. Peter Boulden “When we do dentistry right, we’re helping people.” Dr. Craig Spodak “Everything happens slowly until it’s sudden.” Dr. Craig Spodak

Bulletproof Dental Practice Podcast Episode 48 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Chad Cooper, LEGENDARY LIFESTYLE™ Coach Watch the full video of the interview by clicking here! Key Takeaways: People really want to move beyond happiness & material possession, and find FULFILLMENT. We don’t want work/life balance, we want work/life harmony. The one great equalizer is we all get 168 hours in a week. We are all equal that way. How we use that time is what separates the amateurs from the professionals. Creating space in your life and calendar is where your creativity comes alive. Creativity occurs within empty space. Retirement should be doing what you want, on your own terms. Learn and understand what your purpose is. It’s all about how you want to feel, not what you want to achieve or own. To find your purpose sit down and write down 7-10 of your happiest memories. Write 1-2 paragraphs on each of those memories. Add the emotions and feelings within each memory. Go back and circle the emotion words within your writing. Those emotions are your purpose. The greatest failure in the world is achieving everything you want and still being unfulfilled. Once you’ve discovered your purpose, take those emotions and insert them into the activity you’re undertaking. That’s the way to find fulfillment in the things you do every day. Burnout is prevalent with dentists. A lot of that is due to internal narratives. We’ve all been trained to play small. We want to not be afraid of being human, of being normal. If you’re doing something that’s draining your batteries, 7 characteristics of yin and yang. When doing anything, consider these 7 questions. If what your doing answers most of these positively you’ll be much more fulfilled. Is it serving a sense of mission? Did you do it from a place of freedom? Are you doing it with love? Was there adventure involved? When you do this, does it fill you up? Does it create a sense of safety? Does it allow you to speak your truth through love? The two greatest factors for an extraordinary marriage are love and respect. Women desire love. Men want respect. 4 quadrants of life – all four need to be address in order to be fulfilled. Logical – brain Emotional – heart Physical – body Spiritual – soul References: Date with Destiny Charlie Rose interview with Bill Gates & Warren Buffet Create Your Legendary Lifestyle Leaders Eat Last by Simon Sinek Time Isn’t the Problem, You Are by Chad E. Cooper Tweetables: The vehicle doesn’t change, the meaning that you give to it does. – Chad Cooper You can’t feel love you get, you only feel the love you give. – Dr. Craig Spodak You can’t give what you don’t already possess. – Chad Cooper

Bulletproof Dental Practice Podcast Episode 47 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dr. Paul Etchison, founder of The Dental Practice Heroes Podcast Key Takeaways: Self-managed teams are a great way to allow your team members authority to create – and reach – goals that benefit your practice. Learn more about Dr. Spodak’s practices that led Spodak Dental Group to be within the top 1% of Invisalign providers in the US. Occlusion, malocclusion, and crowding are incipient diseases from which problems will arise over the long term. High volume Invisalign production cannot be done by the doctor alone, it requires the support of the entire team. Your mouth isn’t optimally healthy with just the absence of caries or periodontal disease. Keep your focus on educating patients, not on trying to sell services. Your team needs to understand why you do what you do, and make sure they’re on board with your overall vision. Otherwise they’ll never help you grow and meet your goals. We’re in the Participation Age where employees want to come to work with their brain turned on and be part of a mission. Everyone wants to work in a culture where they can express themselves. Craig’s top 3 pieces of advice for dentists: Create a vision for your life Work on your leadership skills Focus on exceptional clinical dentistry References: All Star Smiles GOTT iTero Omnicam Leaders Eat Last by Simon Sinek Finding My Virginity by Richard Branson The Subtle Art of Not Giving a F*ck by Mark Manson Date With Destiny with Tony Robbins  Tweetables: “People need to be led, only ‘stuff’ should be managed.” – Dr. Craig Spodak “Where focus goes, energy flows.” – Tony Robbins “Be the leader you wish you had.” – Simon Sinek

Bulletproof Dental Practice Podcast Episode 46 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dr. David Phelps, founder of Freedom Founders and host of Dentist Freedom Blueprint Podcast Watch the full video of the interview by clicking here! Key Takeaways: Building freedom into your business can take many forms. Learn skill sets that are transferable. Becoming the orchestrator of your business is key. Be careful about picking another lane to diversify. First, pick the right people and form strategic alliances. It’s much easier to diversify and become an expert if you have the right support systems. The best return on an investment will always come from optimizing a business. Diversifying into real estate is a common avenue for dentists looking to expand their portfolio. The most profitable seat at the closing table is the lender’s seat. Tweetables The “who” is more important than the “what.” – Dr. David Phelps There’s a difference between investing and speculating – Dr. David Phelps

Bulletproof Dental Practice Podcast Episode 45 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dr. Bill Williams, founder of Suwanee Dental Care and author of The $10,000 A Day Dentist Watch the full video of the interview by clicking here!   Key Takeaways: Bill William’s book “The $10,000 A Day Dentist” details 50 ways he has identified to create a highly successful dental practice. Dentistry can be broken down into 5 areas: Mindset, Team, Facility, Marketing, and Capacity. Mindset is the beliefs you have and paradigms you operate under. Significant growth can’t happen without the right mindset. Team – it’s important to surround yourself with team members who support your goals and offset your strengths and weaknesses. A lot of dental offices are understaffed. Not having enough staff can be a big impediment to growth. The average revenue per employee across all industries is $200,000 per employee. To get good associates you generally need to enlist a headhunter. To keep them you have to educate them, pay salary plus bonus, and offer benefits that have value for your team. You also need to be sure they’re tied to your practice’s vision. Everyone wants to be on a winning team. Masterminds are a great way for dentists to connect with others sharing similar experiences and problems, and working through solutions. It’s true – you’re a product of the 5 people you spend the most amount of time with! You can only be excellent and really astute with age. Your abilities will triple after practicing for 10-15 years. Choosing your mentors wisely can accelerate your growth.   References The $10,000 A Day Dentist by Dr. Bill Williams Think and Grow Rich by Napoleon Hill The Obvious Secret by Earl Estep Action Coach The Seven Mountains of Marketing Solstice Dental Advisors Outliers by Malcolm Gladwell