Bulletproof Dental Practice

Bulletproof Dental Practice Podcast Episode 38 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dr. Jonathan Abenaim, founder of Smile Syllabus Training Institute, owner of Jonathan Dental Spa Key Takeaways: Use the 80/20 rule to determine which patients are best for your practice. Make sure your house is in order first before you invite people in. Make sure you have the right team and that the team believes your vision. Your hygienists’ first objective should be creating relationships with your patients and how you empower them to have a healthy mouth. The beauty of dentistry is that you don’t need that many patients to make a comfortable living. A lot of dentists think they can skip the process of mastering analog dentistry and think a computer will fix everything for you. Dentists need to start taking responsibility for what they’re doing. Digital dentistry isn’t about changing the analog concepts, it’s taking those concepts and streamlining them. Nightguards are the hidden money-maker in 3D dentistry. DSO’s are coming for the general dentist. If the general dentist doesn’t find ways to differentiate themselves they’re going to get gobbled up. Changing the public’s perception of dentistry isn’t a paradigm shift, it’s a paradigm cliff. If you’re not ready for it, you’re going to fall right off and die. Middle of the road solo practitioner is going to disappear. Medicaid practices will get more powerful. Service-oriented dental practices will thrive tremendously. Labs who embrace digital technology will be successful. Digital dentistry will reinvigorate the whole profession. References The Trust Factor by Jonathan Abenaim, DMD The 7 Habits of Highly Effective People by Stephen Covey Register here for Digital Dentistry to the Max, Jan 18-19 Tweetables “If you focus on the money, the patients will see right through you.” Dr. Jonathan Abenaim “Digital dentistry deletes the questions marks you have every day in your practice.” Dr. Jonathan Abenaim “A loyal customer is worth 12 times their initial spend.” Dr. Jonathan Abenaim

Bulletproof Dental Practice Podcast Episode 37 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Key Takeaways: Listen to part 1 before proceeding! Operations manuals are created so you can focus on your highest and best use Silo 1 – Clinical systems Create manuals for the various positions within the clinical team; dental assistant, hygienist, doctor, etc. The manual should contain all processes and procedures – documented. Include pictures, diagrams Running through a comprehensive checklist frees up the brain to focus on tasks at hand. Silo 2 – Business Operations Create manuals for the various positions: front desk Include processes for everything these team members do within the course of their day Silo 3 – Marketing For mature practices, this silo is one of the most important silos in growing the business Practice owners should know enough about marketing process to be able to have intelligent conversations with outsource vendors You can have the most well-oiled systems-dependent practice in the world but if the growth is entirely predicated on word of mouth, be prepared for slow, linear growth Topics within marketing you should be aware of: Online reputation management Website experience Video production Content creation Paid ads on YouTube, Facebook, Instagram, etc. Press releases Social media Magazine & print If marketing isn’t your passion or best focus, try to outsource to someone within your team Jeff Bezos said, “The balance of power is shifting toward consumers and away from companies. The right way to respond to this if you are a company is to put the vast majority of your energy, attention and dollars into building a great product or service and put a smaller amount into shouting about it, marketing it.” Silo 4 – Metrics & KPI’s This silo is important primarily so you know how well all your efforts are working Lag measure – measures ultimate goal of what you’re trying to accomplish, but is always in the past Lead measure – is predictive, and influenceable Look at 5 growth metrics: True growth of your patient base # of patient visits Dollar amount per patient visit Collections Overhead (variable costs like supplies, equipment, marketing, etc.) Review your google analytics Tweetables: “Everything is marketing.” Fred Joyal  

Bulletproof Dental Practice Podcast Episode 36 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Key Takeaways: What does it mean to work ON your business instead of IN your business? A lot of dental practices aren’t really run like business at all. Ignorance is NOT bliss. The e-myth (entrepreneurial myth) is that most people who start a business are entrepreneurs, when in reality, most people who start a business are technicians. Because we have a high level of understanding of dentistry, we think that uniquely qualifies us to run a business that provides that dental work. Most dental practices are set up as people-dependent practices, when the focus should be on a systems-dependent process. WHAT DOES THIS MEAN? People-dependent practices are dependent on specific people in the office, whether it’s you or an employee. Should something happen to that person the office becomes very vulnerable. Corporations are process-dependent business, which is why independently owned practices have something to fear. They are far less vulnerable. Working on your business means one thing; creating a system for everything so you can get superior results consistently, predictably, and with a lot less stress and work. Everything you do should be documented in a manual, a video, a checklist, etc. Create the system intentionally. If you’re “too busy” to step back from the drill and devote real time to creating processes, then you can’t expect a different result. Having a systems-dependent practice means you’re ready to scale and amplify effortlessly. Thriving business have three roles in common; the entrepreneur, the manager, and the technician. Entrepreneur is the visionary who thinks ahead, keeps planing for the future, and setting the GPS for the team Managers establish order and create consistencies, and hold everyone accountable Technicians (hygienists and dentists) do the technical work Everyone at their core is better suited to one of these roles, but ideally you should be able to do all three in equal amounts, especially in the beginning In order to run a successful dental practice, you have to give up doing all the dentistry yourself to allow yourself the time to grow the practice. Three practice stages: Stage 1 – Glorified Job Stage 2 – The Eager Stage Stage 3 – The Mature Stage First, we must assess where we are in the process, and situational and personal awareness are way undervalued in our professions Tips: Take some time and truly look at the pain points in your operation Create and optimize your practice operations manual Act like a patient, or hire a secret shopper and have them document their entire interaction Make a process for everything, assume you’re writing it for a 5th grader Silo 1 – Clinical operations Silo 2 – Business & admin operations Silo 3 – Marketing, growth & online reputation operations Silo 4 – Metrics & KPI’s Part 2 coming soon!

Bulletproof Dental Practice Podcast Episode 35 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Brett Judd, Your Practice Therapist Key Takeaways: Key areas of dental burnout and stress:                                  Staff issues Cash flow issues Stress in general Burnout starts to set in at approximately 7-10 years Divorce rate is systemic in dentistry, and averages about 46% Divorce is going down in general population, dentists have a higher rate of divorce when you look at divorce rate by profession Studies show when our core relationships are strong we’re better entrepreneurs, better at our craft, more creative and resilient. When they’re in distress those key skills diminish. First step to turn around burnout is to realize you’re not alone, and to put together a self-care plan to help ease stress and reduce bad energy. Four W strategy helps you normalize and immediately differentiate yourself from the chaos: Why do I care? Who says? Whose issue? What can I do about it? When you feel tension rising, run through the four W’s to chip away at accumulated beliefs. Work on building a true, autonomous, self-directed team, as compared to a well-managed staff. A truly self-directed team will have the ability to run without a manager. It frees you up to do an amazing amount of core work without the stress of managing. Empower your people to excel in their scope. The last thing you want to do is be a manager. Parts and pieces can be managed, but humans are not manageable. Build a true leadership based plan, give authority and expertise over to your team. Purpose is the primary personal motivator for millennials. Constructive coaching is great for high-stress patients or underperforming employees, it’s a very effective way to develop leadership: Praise (The way that you… I love it when you...) Ask (Can I show you…) Teach Enable and empower Validate References Freedom Founders Mastermind Marriages Worth Millions Your Practice Therapist High Production Teams For Dentists / Facebook Group The 21 Irrefutable Laws Of Leadership by John Maxwell Think and Grow Rich by Napoleon Hill The Self Journal Tweetables “Give your people the parameters in which they can excel, then step back and watch them succeed.” – Dr. Peter Boulden “Dentistry is not a dictatorship.” – Dr. Peter Boulden

Bulletproof Dental Practice Podcast Episode 34 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Reposted from Dentistry Uncensored with Howard Farran Key Takeaways: There seems to be a lot more opportunity in the Atlanta area focusing a new practice in more rural areas. Having great chair-side manner is key to success in dentistry. Some of that manner is inherent, but it can be developed with real-world training. Solo dentists have great advantages in providing excellent customer experiences, quality, and value. Dental corporations bring competition, which in turn makes the entire industry healthier. Dental offices never stop needing new patients, nobody keeps their new patients for life. Society is changing, but dentistry has been the same cottage industry that it’s been since inception. Writing down your goals is a key step in making them happen in your life. Partnerships in dentistry are hard. Be very careful when choosing partners for your business. Org charts are important. Make sure roles are clear, especially with your partnerships. Focus your attention on working “on” your business, instead of working “in” your business. Don’t wait to plan your business until the end of the week, do it first. References Dentistry Uncensored Influence by Robert Cialdini Persuasion by Robert Cialdini Under Armour® Protect This House Abundance by Peter Diamandis Ask Gary Vee with Gary Vaynerchuk

Bulletproof Dental Practice Podcast Episode 33 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dave Monahan, CEO of Kleer Key Takeaways: Kleer is a cloud-based dental care plan that helps dentists connect with patients who want more service. 50% of consumers in the US don’t see the dentist on an annual basis. Dental insurance is too complex, too many limitations, too expensive. Consumers and dentists both are frustrated with the system. Consumers want more dental care, but they face issues with cost, fear of cost, and not having any coverage. Customers want something that is simple, affordable, transparent, and something they can trust. Kleer removes the middle man (insurance company) from the process, which removes complexity and cost. Consumers overestimate dental procedure costs from 200-500%. Dentists on the Kleer plan keep about 90% of all payments. Patients who opt in to a membership plan will accept more treatment, creating a win-win for dentist and patient. Kleer offers three plans; children, standard, & perio. OFFER FOR BULLETPROOF DENTAL PRACTICE NATION: Kleer is free to implement, and for dentists who implement after listening to this podcast, Kleer will waive their fees for the first three months of use! Contact Dave at dave@kleer.com! References illumitrac Quality Dental Plan

Bulletproof Dental Practice Podcast Episode 32 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Chuck Blakeman, entrepreneur and presenter at GOTT Summit  Key Takeaways: GOTT stands for Get Off The Treadmill, the annual summit is all about creating a dental practice that produces BOTH time and money. 70% of business is similar/generic. Problems are the same across industries. Business has little to do with the craft itself, but everything to do with the way people work. Dentists really need to get off the treadmill of working in business to work on business and be free to do the things they love. Separation of work and private life is false. Practice owner’s game is about how to make more money in less time. Need to demand both time and money from your career. Research shows there is a proportional link between happiness and money up to $70-80k, above that the level of happiness diminishes with each additional dollar. Key questions: What do I want out of life? What kind of practice do I need to build to give me that kind of life? What kind of stuff do I need (or not) to support that lifestyle? Chase your end, use time and money to get what you want. Your dental career and/or practice should be an expression of your own vision. 2/3 of all people who’ve lived to be 65 – in the history of the earth – are alive right now. The first person who is going to live to the age of 150 has already been born. For thousands of years the #1 motivation was survival. We’re now entering the participation age, where the #1 motivation is significance. 70% of people in your practice are phoning it in. Only 30% are engaged. 51% of everyone at work in the US is actively looking for a job. 86% of people at work in the US would take a job that dropped into their lap. Only 14% would not take another job and are happy with their current position. If you believe people are stupid and lazy, you will end up with a practice where everyone is stupid and lazy. If you believe people are smart and motivated, 4 out of 5 people will respond as smart and motivated. Cost of turnover is between 50-800% of annual salary. It’s a cost no business should plan to afford. Great hiring is KEY. We want leaders, not managers. Managers tell, leaders ask. 50% of businesses fail in 5 years, 80% fail in 10 years. 98% of the reason businesses fail is because somebody got tired, and it’s because they had the right motivation and the wrong process. How do you get to the point where your practice continues to grow, while you are being strategic as a leader? Most of us tend to make decisions based on the short term, and that’s the #1 issue in our lives. Are you making decisions based on where you are, or on where you want to be? So, what’s the magic formula? Step 1 is to change your mindset and intention.  References Making Money is Killing Your Business by Chuck Blakeman Why Employees Are Always a Bad Idea by Chuck Blakeman GOTT Summit The Human Side of Enterprise by Douglas McGregor Built to Sell by John Warrillow Small Giants by Bo Burlingham  Tweetables “Use your practice to build your lifetime goals.” -Chuck Blakeman “We are meant to live every day of our life fulfilled.” -Chuck Blakeman “The most important person is not the leader, but the first follower.” -Dr. Craig Spodak “We want leaders, not managers. Managers tell, leaders ask.” -Chuck Blakeman “If you want to sell your business it’s probably because it doesn’t work for you.” -Dr. Craig Spodak “The business that anybody would want to buy is the one you wouldn’t want to sell.” – Chuck Blakeman “Being a leader is simple, but it’s not easy.” -Chuck Blakeman “If anyone comes to you with a complex solution, it’s probably a bad solution.” -Chuck Blakeman “You get what you intend, not what you hope for.” -Chuck Blakeman

Bulletproof Dental Practice Podcast Episode 31 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Ben Greenfield of Ben Greenfield Fitness Key Takeaways: What is biohacking? Used to mean someone who literally hacks their biology. Lately it’s become a catch-all term for figuring out ways to enhance biology by hacking or shortcutting for better biological health. Benefits and drawbacks to reverse osmosis water Best approach to detox from mercury and lead Pompa’s True Cellular Detox Chelation therapy 3-4 things the average person can pay attention to? Focus varies from person to person, but consistently cleaning & detoxing the body is key. Sweat every day, great for detoxification Doing something that moves the lymph fluid (Qigong shaking, mini trampolines) Intensive, hard breathing (Kundalini yoga) Morning routines, including heart rate monitors, breathwork, yoga, tissue work, drink water, bulletproof coffee, writing, biohacking methods, easy exercise, saunas, cold shower, smoothies Gratitude is one of the most powerful physiological exercises Nootropics Qualia Everything is customizable based on what your body needs, every individual has the ability to readily get various testing to determine exactly what your body needs to function optimally

Bulletproof Dental Practice Podcast Episode 30 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Watch the full video of the lecture by clicking here!  Start with Why Born & raised ATL Buckhead - flagship practice “To use my God-given talents to provide for my family, friends, and team. To use dentistry & business of dentistry to create a legacy. To enjoy my finite life and to know I maximized it and I mattered.” My Practice Evolution Start, today, where I’m going? 2002 - Graduated dental school 2005 - Started FFS practice 2009 - Opened 2nd location (Buckhead), added 2 associates (during recession) 2016 - Acquired PPO practice (investor not clinical), multiple real estate acquisitions 2017 - Building 3rd location, 2nd acquisition, 5th property acquisition, 2 more associates 2020 - Consulting, Exit (roll-up) EBITDA Struggles like anyone… 2015 vs 2016 Failed partnership $560k embezzlement Extreme clinical burnout Family demands The lesson it taught me - KEEP GOING The difference between success and failure can be just one more step Re-engineered my life Purpose of work is to provide for our life Work to live, don’t live to work Changed my work schedule and moved to 9 days clinical / month Take off one week per month Got balance and focus back Balance circle Exciting times in dentistry Dentist listed as #1 of 100 Best Jobs by US News & World Report Digital technology convergence Technology is exploding with digital convergence Digital impressions Dentistry caught Wall Street attention too! Valuations can be excellent if you get large enough 10 - 20X EBITDA is not uncommon Podcast launched late 2016 All about systems & marketing Why start a podcast? Habits of Highly Performing Offices These are not just my habits, not claiming to have it all figured out You are the average of the 5 people you spend time with EXCEPTIONAL & contagious culture Realize you’re not the most important person Get an awesome team and then get out of the way Team will protect your environment Value of having a morning meeting, covering: REVIEW DENTAL INTEL Production / Collection / Goals Same day opportunities Actual monthly growth (NP - attrition) Outstanding treatment? Outstanding balance? Marketing opportunities? PRIDE in physical space Team loves their offices Spend more time there with family Your practice has guests all day long - be proud & invest in it Focus on patient experience Rehab? Do it. Build? Do it. Clinical excellence & patient education Lots of lip service but few execute on communicating excellence to the people who matter What good is clinical excellence if you can’t use it Become a marketing master Storytelling Video, video, and more video Addicted to social media Not outsourced Not spewing dental, but creating entertainment Examples Marketing on social media Follow trends, look at the app store Online reviews & process Why is Amazon the leader in consumer? Our process Time is precious so incentivize Google & Yelp are the leaders, Facebook is a far 3rd place Yelp hack Number obsessed Monitor numbers daily (morning meeting) DENTAL INTEL What you track & focus on naturally increases Pearson’s law: That which is measured, improves. That which is measured and reported, improves exponentially. Focusing on WRONG metrics... Not just NP Not just collections Better metrics… # patient visit $ per patient visit % overhead ACTUAL monthly growth Value creation Video / education Patient experience Website / marketing Law of reciprocity INVEST IN YOU CE, podcasts, meditate, enhanced food & nutrition, personal trainer, personal coach, executive assistant, complex physical w/physician, Bulletproof coffee You better be GOOD first, lots of peeps depend on you Set goals & review them daily Balance circle What’s going to move the needle forward TODAY BE EPIC as a goal, in all areas of your life We get one ticket on ride called planet Earth Resources: Dental Success Summit

Bulletproof Dental Practice Podcast Episode 29 Hosts: Dr. Peter Boulden & Dr. Craig Spodak Guest: Dr. Chris Ramsey / Co-owner of Ritter & Ramsey Watch the full video of interview by clicking here!  Key Takeaways: Take care of your team. Your team will take care of your patients, and your patients will take care of our profits. Strive to be the best. You don’t have to be the best in the WHOLE world, but be the best in YOUR world. Success isn’t the same for everyone. Define what success means for you. Make sure you can answer the question “Why do people choose to come to your office?” Make sure you define your answer and clarify that vision with your team. Achievement is not always related to fulfilment. Chris Ramsey created a lecture program called M.A.S.T.E.R., dedicated to teaching people how to be great at what they do and do more of the dentistry they love. Mindset – The conscious, unconscious, and subconscious parts of your brain. Your brain is working like a hard drive, storing information randomly. Typical dental experiences are usually TERRIBLE. It’s uncomfortable, can be painful, and is filled with bad news. You have to make the dental experience positive – start with a positive, and end with a positive. Addressing Choice – dentists have to stop overwhelming patients with too many options. When it comes to choices, more is not better. Influence people so they feel like the decisions they make are their own. Use body language for subconscious influencing. People remember most the last thing you told them. The sequence you use in presenting options matters. Storytelling – Approach as if you’re getting ready for a TED talk. There is an art to storytelling. Craft a message map. People make decisions based on emotions. Use a voice recorder to really listen to what you say and how you say it. Dentistry is not a commodity, it’s a service. Training the Eye – Learn how to read body language. Women are innately better at reading body language than men. Strangers read each other at an accuracy of 20%. You can’t guess people’s reactions solely by first impression. Scratching the neck indicates “I don’t really agree.” Playing with hair is subconscious calming tactic. Arms crossed could mean a million things, don’t assume it’s nervousness. Look at their hand position. If fists are clenched they are defensive. See no evil, hear no evil, speak no evil; touching their mouth/face, rubbing of eyes, rubbing/touching their nose, or touching of ears indicates anxiety or covering of truth. Someone turning their torso towards you invites you into the conversation. If they turn away it’s a cue they might not want to talk to you at the moment. Don’t rely on people’s faces to tell you the truth. Read their body cues instead. Pay attention to the clues and craft your message accordingly. Look for pacifying behaviors, assess what made them nervous, alter the conversation and move it back to neutral. Once there aren’t any more pacifying behaviors, stop talking. Expectation – Why do things cost what they do? Is your product worth what you charge? It’s all psychological, it’s all about the experience. Trigger effect is something intangible that triggers you to say something is valuable. Attention to detail is important. Recognizing Persuasion – Social perception and influence is incredibly important to your business. Search out the easy & right things to do for people. Those things go far to prove your value and create customers for life. Reciprocation rule; do unexpected things for people and they will reciprocate. Why spend money trying to get new patients who you don’t know rather than spend money on patients you already have? Invest in your patients. Every person that comes through your door wants to feel a connection. You and your team should do everything you can to foster that connection. Make it about them.  References Digital Smile Design (DSD) The Dip by Seth Godin Purple Cow by Seth Godin Poke the Box by Seth Godin Linchpin by Seth Godin Blink by Malcom Gladwell TED Talks Mindset: The New Psychology of Success by Carol S. Dweck, Ph.D. Influence by Robert Cialdini How to Win Friends and Influence People by Dale Carnegie  Tweetables: I don’t think anybody listening to this podcast ever wakes up, stretches, and says “I can’t wait to be mediocre today!” – Dr. Chris Ramsey Success isn’t the same for everyone. Define what success means for you. – Dr. Chris Ramsey Take care of your team, your team will take care of your patients, and your patients will take care of our profits. – Dr. Chris Ramsey If you can’t explain it simply, you don’t understand it well enough. – Albert Einstein It’s time to start trying new things, and start failing. – Dr. Chris Ramsey Failure is just a seminar. A mistake is just a learning experience. – Dr. Craig Spodak Your practice is not stagnant, that is a myth. You’re either growing, or you’re dying. – Dr. Chris Ramsey Every person that comes through your door wants to feel a connection. – Dr. Chris Ramsey