Now displaying: March, 2024

What They Should Have Told You In Dental School 0

Mar 27, 2024

The Bulletproof Dental Podcast Episode 341

HOSTS: Dr. Peter Boulden & Dr. Craig Spodak

GUESTS: Dr. Trey Tippit and Dr. Dwight Peccora

TAKEAWAYS

AI has the potential to revolutionize dentistry by analyzing documents and providing financial insights.

Dentists can benefit from AI tools like chat GPT and copilot for financial management and analysis.

Business education is crucial for dentists to succeed in managing their practices and making informed financial decisions.

The transition from clinical dentistry to business ownership requires a shift in mindset and the acquisition of business skills.

Minimizing student loans and financial planning are essential for dentists to achieve financial freedom and career opportunities. Debt can be a useful tool for dentists, but it requires a strategic mindset and the ability to manage it effectively.

Board complaints are a common occurrence in dentistry and should not be seen as a reflection of a dentist's skills or abilities.

Malpractice insurance provides support and protection for dentists in the event of a board complaint or legal issue.

Dentistry is a numbers game, and mistakes and failures are inevitable. It is important to learn from these experiences and continue to grow.

Effective communication and collaboration are essential skills for dentists to succeed in their profession.

Leadership training is crucial for dentists to effectively manage their teams and create a positive work environment.

Dentists should be open to exploring different career paths and options within the field of dentistry.

Appreciating and celebrating the achievements of your team members can help foster a positive work culture and improve team morale.

CHAPTERS

00:00 - Introduction and AI in Dentistry

03:17 - The Need for Accessible Legal and Financial Advice

05:33 - The Five Things They Should Have Taught You in Dental School

07:15 - The Transition from Clinical Dentistry to Business Ownership

12:09 - Minimizing Student Loans and Financial Planning

18:03 - The Importance of Financial Management in Dentistry

19:47 - The Importance of Occlusion and Dentures

20:32 - Minimizing Student Loans and Financial Planning

26:01 - Different Perspectives on Debt and Financial Management

30:57 - The Mindset of Dentists

32:24 - Understanding Board Complaints and the Role of Malpractice Insurance

35:17 - The Numbers Game of Dentistry

37:25 - The Importance of Communication and Collaboration

40:06 - Leadership Skills in Dentistry

42:02 - Dealing with Failure and Mistakes

46:20 - Exploring Different Career Paths

52:26 - Appreciating and Celebrating Your Team

REFERENCES

Bulletproof Summit

Bulletproof Dental Practice

Download this Episode

Live Real Estate Breakdown with Randy Smith 0

Mar 20, 2024

The Bulletproof Dental Podcast Episode 340

HOSTS: Dr. Peter Boulden & Dr. Craig Spodak

GUESTS: Randy Smith

TAKEAWAYS

Quality sponsors are crucial in real estate investments to ensure success and minimize capital loss.

Investing in real estate should be a long-term strategy focused on steady cash flow and high-quality deals.

Diversification is important in real estate investing to spread risk and maximize returns.

Tax advantages, such as depreciation, make real estate investing an attractive option for wealth accumulation.

Supporting charities, such as Warrior Sailing, can provide a sense of fulfillment and make a positive impact.

Chapters

00:00 - Introduction and Favorite Places

00:30 - Different Types of Real Estate Investment

05:42 - The Challenges of Direct Ownership

08:20 - Why Real Estate is a Wealth-Building Asset

09:16 - Different Types of Real Estate Investments

21:47 - The Importance of Diversification

23:34 - The Risks and Rewards of Real Estate Investing

27:48 - Educational Resources

36:36 - The Importance of Proper Pricing

40:19 - The Role of Sponsors in Real Estate Deals

44:19 - The Value of Dividend Stocks

46:41 - The Importance of Quality Tenants

49:21 - The Value of Real Estate Reproduction

56:31 - Tax Advantages of Real Estate Investing

59:56 - Real Estate Investment Education

01:09:17 - Opportunity to Invest in Future Deals

01:14:31 - Supporting Charity: Warrior Sailing

REFERENCES

Bulletproof Real Estate

Warrior Sailing

Bulletproof Summit

Bulletproof Dental Practice

Download this Episode

Leverage Technology for Location Growth with Brian Colao 0

Mar 13, 2024

The Bulletproof Dental Podcast Episode 339

HOSTS: Dr. Peter Boulden & Dr. Craig Spodak

GUEST: Brian Colao

TAKEAWAYS

The dental industry is experiencing a shift towards same store growth as M&A activity becomes more constrained.
Understanding your EBITDA is crucial for practice growth and valuation.
Culture plays a significant role in practice value and patient satisfaction.
Innovation, technology, and AI are driving same store growth and improving patient care.
Joining a DSO can provide dentists with more opportunities for career advancement and financial stability. Working for a DSO can provide greater job security and protection against unpaid wages compared to private dental offices.
DSOs have better quality control measures in place, ensuring a higher standard of care for patients.
The dental profession is expected to become more consolidated, with DSOs accounting for a larger percentage of practices.
As consolidation increases, valuations are likely to rise due to decreased supply and increased demand.
The consolidation of the dental profession may pose an existential threat to insurance companies.
Market conditions, including interest rates and political factors, can impact deal flow in the dental industry.
Building a business that you don't want to sell can be a viable alternative to selling, but it's important to choose the right growth partner.
The DYKEMA Summit is an annual event that brings together dental professionals to discuss industry trends and best practices.