Bulletproof Dental Practice

Bulletproof Dental Practice Podcast Episode 18 Host: Dr. Peter Boulden / Atlanta Dental Spa Key Takeaways: 3 Reasons for Doing a Morning Huddle Bring your team into alignment Allow you to discuss opportunity Provides transparency. You can share your numbers with your team. Tips for a Good Meeting: Meetings should be done by the office manager or a team member Start on time and when everyone is ready. Meetings should be 15 minutes max. End the meeting on a motivational note.  Top Things to Discuss in a Meeting: Look for same day opportunities Look for outstanding treatments Look for outstanding balances Look for any marketing opportunities Tweetables: If you’re not doing the morning meeting, I highly recommend that you start ASAP because it will change the game. - Dr. Peter Boulden

Bulletproof Dental Practice Podcast Episode 17 Host: Dr. Peter Boulden / Atlanta Dental Spa Guest: Dr. Brady Frank Key Takeaways: DSO (Dentist Service Organizations) were created to address legal challenges presented by corporate dentistry. Dentists can take advantage of this. Dentists should learn how to become owner-dentists then hire an associate to do heavy lifting of clinical dentistry. Equity harvesting - find a value-added practice, acquire it and convert it to cash Knowing your business value may not necessarily have an impact to your retirement fund How to have cash from investment and use it: (1) Find a value-added practice (2) grow the value-added practice and (3) find a way to receive cash from this asset Get a dentist partner to work on the clinical side so you can work on the business side Continuous exit strategy works with equity harvesting If you acquire another practice, operate it as one business with your existing practice Add dentist partners as you acquire more practices The founding dentist becomes a private equity company also Continuous exit strategy means you own a portion of your company (the DSO) and earn from it continuously as it expands to other regions Hire dentists who want to work as partners vs those who want to just be associates. They are go-getters. Dentists can compete with corporate if they understand how DSOs work. Multiple Incomes available to dentists: management income, clinical income, income from building lease, residual income from regional DSOs, etc. Tweetables: Staying in the game will make you more energized and give you more cashflow. – Dr. Brady Frank Resources Mentioned: Multiple Streams of Income by Robert Allen

Bulletproof Dental Practice Podcast Episode 16 Host: Dr. Peter Boulden / Atlanta Dental Spa Guest: Matthew Lewis Key Takeaways: Corporate often invites dental students to join them although it feels that they only present ideal scenario most of the time. Deciding to sell to the corporate model is a tough decision to make. Corporate dentistry can compete on pricing but not on relationship factor. Dental students should keep their options open whether they'll go corporate or pursue a private practice. Corporate dentistry can help dental students get a job and learn practical dental skills. Huge dental debts encourage students to go corporate after graduation. The more in-debt you are after graduation, the fewer choices you have. Fewer students now want to start their own practice after graduation. Corporate offers $500-a-day baseline pay to dental students. Dental associates who are willing to hustle their pay after six months are good for a practice because it means they are interested to be in a win-win situation. When selecting where to practice after graduation consider market saturation. Don't just go with the herd. When looking for a CPA, look for someone who can give you personalized attention, especially if you are running your own business. For contract reviews, you only need the simple services of an attorney. When looking for people to work with - like a CPA or an attorney - look for someone who you are comfortable working with. Interview if necessary and ask for recommendations. Corporate dentistry will make sure you work hard for the money they pay you. Be awesome in something that you are passionate about. Don't force yourself to do something you do not like. Try different procedures first in order to find something you love. You may like a procedure that you hated during school. Tweetables: Force yourself to back out and look at the big picture. Keep an open mind at the things coming at you. Open mind is key. Attitude is everything.

Bulletproof Dental Practice Podcast Episode 15 Host: Dr. Peter Boulden / Atlanta Dental Spa Guest: Garrett Gunderson / Wealth Factory Key Takeaways: Big Mistake: putting money too early into investments for retirement and not having enough liquidity for your business. Grow your business first by investing in it. Invest in what you know. Diversification for a dentist is bad. Learn to be comfortable with having a lot of cash. 5 Part Formula that will give you financial independence in 5 - 7 years Be more efficient with your money by keeping more of what you make. Strategically engineer wealth to eliminate diversification. Accelerate investment by finding ways to make them produce cash. Scale your business revenue. Treat yourself as your greatest asset. Hire a good accountant in order to learn how to pay less in taxes. How to save on taxes: Be proactive with your team and communicate with them. Find all the related expenses to your business and write them off for tax deductions. Reclassify your income. Focus on abundance, than scarcity. Abundance creates value while scarcity destroys wealth. Investments are in relationships, in knowledge and in our own capacity to create value and make money not just money making money. Having a money problem is a symptom of not having the right ideas or the right network of people. Financially stay humble by cutting back, being more efficient or expanding your means. Invest in a great team that share the same philosophy. "Pay yourself first" is the fundamental financial foundation. Invest in becoming a better investor. To download your FREE copy of “What Would the Rockefellers Do,” Text WWRD to 801-396-7211 Tweetables: “The real road to wealth is to own a business.” – Garrett Gunderson “Invest in what you know.” – Garrett Gunderson “Automatically save and deliberately invest.” – Garrett Gunderson ‘Abundance is about exchange; human innovation.” – Garrett Gunderson “Scarcity will say ‘I can't afford it.’ Abundance says ‘How can I afford it?’” – Garrett Gunderson Resources Mentioned: Books: What Would the Rockefellers Do? by Garrett Gunderson Killing Sacred Cows by Garrett Gunderson The War of Art by Steven Pressfield   Productivity App: Omnifocus  

Bulletproof Dental Practice Podcast Episode 14 Host: Dr. Peter Boulden / Atlanta Dental Spa Guest: Charissa Wood / Atlanta Dental Spa  Key Takeaways: Create an appointment flow that will ensure consistency Consistency is one of the biggest reasons for her success Give customized care to every patient Find the balance between consistency and tailored care Educate patients about the process and the value you offer Be aware of your patient's situation and empathize where they are Be open to change - either new technology or new processes Assess your hygiene department and be willing to make changes if you're not happy with its production Fuel the fire by exposing your hygienist to further learning Create a plan together with your hygienist and be collaborative Hygiene can be a standalone income source and not just a "loss leader" / necessity In every hygiene step you do, help the patient understand where they are so they can make the best decisions for themselves Tweetables: "We're not there to fix teeth. We're there to help people." - Charissa Wood

Bulletproof Dental Practice Podcast Episode 13 Host: Dr. Peter Boulden Atlanta Dental Spa  Key Takeaways: We have to be very strategic with our goals and reverse-engineer them. Writing down your goals is exponentially more effective than not. Strategically measuring your goals is reverse engineering your written goals. Reviewing your goals on a daily basis ensures a higher chance of achieving them. Qualifying your goals with a "why" purpose makes them more attainable. Get in the habit each morning of doing the 5-minute miracle: Write 3 things you are grateful for. Gratitude is super powerful in your life. Spend a few minutes sitting in a quiet place and focusing on your breathing. Visualize your agenda for the day in your head including what you feel. Review your goals. Tip: Fill out a personal balance sheet. Tweetables: "Gratitude has been proven over and over to be super powerful in your life because anxiety, scarcity and fear cannot exist in its presence." - Dr. Peter Boulden Resources Mentioned: The Miracle Morning by Hal Elrod Pranayama breathing app Headspace Personal Balance Sheet

Bulletproof Dental Practice Podcast Episode 11 Host: Dr. Peter Boulden Atlanta Dental Spa Guest: Dr. Steven Rasner Realizing the Dream Key Takeaways: If you're young, you should invest first in yourself by mastering a specialty. Meet with the top people in your top department regularly and discuss your company's challenges and strategies. Create something that will inspire people to come to you Build relationships with your patients Get your oral sedation certificate in your local state Two skills to learn: (1) atraumatic extractions and (2) implant dentistry Create an atmosphere where dentistry becomes easy Do a 5-point exam than a comprehensive exam Offer dental x-ray for free if you can to be able to get them to agree to a complete exam Give people a chance to see how it is to have complete dental treatment Increase acceptance by requesting the significant other to be at the first visit Speak honestly and sincerely to patients Create scripts that work and memorize them Treat all patients equally and with respect Don't beat yourself up as a dentist and work in as many places as you can to gain experience Resources Mentioned Book: Success Principles by Jack Canfield Tweetables: "Be good doctors and be right with people. Treat your patients with respect." - Dr. Steve Rasner "Every successful person in the world has mentors." - Dr. Steve Rasner

Bulletproof Dental Practice Podcast Episode 11 Host: Dr. Peter Boulden Atlanta Dental Spa Guest: Dr. Steven Rasner Realizing the Dream Key Takeaways: If you're young, you should invest first in yourself by mastering a specialty. Meet with the top people in your top department regularly and discuss your company's challenges and strategies. Create something that will inspire people to come to you Build relationships with your patients Get your oral sedation certificate in your local state Two skills to learn: (1) atraumatic extractions and (2) implant dentistry Create an atmosphere where dentistry becomes easy Do a 5-point exam than a comprehensive exam Offer dental x-ray for free if you can to be able to get them to agree to a complete exam Give people a chance to see how it is to have complete dental treatment Increase acceptance by requesting the significant other to be at the first visit Speak honestly and sincerely to patients Create scripts that work and memorize them Treat all patients equally and with respect Don't beat yourself up as a dentist and work in as many places as you can to gain experience Resources Mentioned Book: Success Principles by Jack Canfield Tweetables: "Be good doctors and be right with people. Treat your patients with respect." - Dr. Steve Rasner "Every successful person in the world has mentors." - Dr. Steve Rasner

Bulletproof Dental Practice Episode 10 Host: Dr. Peter Boulden Atlanta Dental Spa  Dr. Dick Reid spend most of his career focused on NOT growing a large practice.  Nope, he knew that is wasn't how MUCH you collect, but rather how much you KEEP of that collections.   Over his career, Dick was able to drive his overhead to around 43%- as general practicioner.  This is pretty much unheard of, so when I did catch wind of this I wanted to find out his "secret sauce" so that maybe some listeners could gain insight on how to emulate that - to a certain degree.   By keeping such a low overhead to his practice, Dick was able to retire early on his timeline.   Guest: Dr. Richard (Dick) Reid DentalTown article Contact:  630-800-6191 or rjrdds50@gmail.com   Key Summary: Dr. Reid spent only 43% overhead in his dental practice. Read and understand how the dental economy works. Listen when smart people speak and use them as mentors. Save 20% from your practice and do not live above your means. To maintain low overhead expenses, keep your office small. You can analyze your numbers by simply looking at your patient schedules. To start minimizing overhead, you should “cut the fat” everyday. Tip: Move patients around so you don’t have any gaps in your patient schedules. Tip: Only have 1 front desk personnel. Tip: Ask patients for referrals. Ask for new patients. Don’t be shy. Keep adding money in your pension fund in order to build it. Advice: Start modestly. Try to stay modest. Streamline your personal spending so you can save for your pension. How to reduce an already high overhead - consider starting over or letting people go Pay attention daily and continuously to your practice to make it healthy Get business experience from reading business-related articles and pay attention   Resources Mentioned: Dental Town - Doug Carlsen DDS Lean and Mean - Rick Kushner WhiteHall Management - Greg Stanley Dental Economics - Brian Hufford   Tweetables: “Our patients love us because we love them first. - Dr. Dick Reid” “There’s nothing more encouraging than seeing the money you plough into your pension fund grow and appreciate and see the light at the end of the tunnel. - Dr. Dick Reid” “Make it. Save it. Then keep it. -Dr. Dick Reid”

Darren Shaw, Founder & President of Whitespark, discusses optimizing local dental SEO presence. Topics include: local SEO strategies, mobile-first design for dental websites, the distinction between regular SEO and local SEO, implications of canceling listings with service providers, citations and reviews in local SEO, and creating relevant and detailed website content for local dental SEO.