Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 103

Hosts: Dr. Craig Spodak

Guest: Britnie Turner

Key Takeaways:

• Introduction
• BVI Stronger
  
  • Helping after the hurricane
  • Ariel Produced
• Friendship with Richard Branson
  
  • Importance of good friendships
  • Business is a creative expression of who you are
• Date With Destiny
• Social Media & success
• Focusing on the everyday
• What does the best YOU look like
• Access to best information & people
  
  • The podcast
  • Surrounding your brain with the best people
• Britnie’s struggles in business
  
  • Your excellence will come out eventually
  • Doing stuff for you
• Happiness & success
• Business as a force for change
• Aerial Global Community

References:

Aerial Global Community

Date With Destiny

Tweetable:

How can you be stronger on the other side - Britnie Turner

If you live by peoples praise, you’ll die by their criticism

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 102

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Christian Hart

Key Takeaways:

• Introduction
• Knowing your craft
• End of the predatory practice
• • Figure what you want to do & what life you want to live, that’s what is right for you
• Knowing what you don’t know
• • If you know you don’t know, you know it

• Being self-aware of what you need to improve on
• • Treating dental school as the starting line
• Taking someone else’s dream & making it yours, will not make you happy
• • Not sustainable to live someone else’s dream
  • Being pushed not pulled

• The disease of more
• Money & happiness
• What are the Dr’s sights on
• • Make an impact & have a legacy
  • Commiting to the trip
  • Support networks
  • Progress = Happiness

• The synergy between the doctors
• • Surrounding yourself with people who want you to kick ass
  • Finding people to synergise with
  • Same values & beliefs

• Failure playing a big part of your life
• • Experiences with failure
  • Don’t be fearful

• Advice to a dental student at 3 different stages of their career
• • First day of dental school
  • When they get in the clinic
  • The day they graduate

References:

The Big Leap

The Disease Of More

Tweetable:

If you are ever around people who say they have it all figured out, RUN - Dr. Boulden

You are a product of the 5 people you spend the most time with - Dr. Spodak

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 101

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Dr. Andi-Jean Miro

Key Takeaways:

• Introduction to guest Dr. Andi-Jean Miro and he stairway to success
• • Known for working side by side with dentistry legends: Dr. Michael Apa and Dr. Larry Rosenthal
• Success story
• • First met Dr. Rosenthal and Dr. Apa at NYU
  • 2015- Dr. Apa became her mentor
  • She was hired part-time after Dr. Apa became the primary partner and had bought out Dr. Rosenthal
  • Moved to New York and became a full-time practitioner
• Dr. Larry Rosenthal admiration
• • His characteristics: real, upfront and honest
  • He might be harsh but comes from the right place
• Dr. Andi’s role as a leader
• • She provides her team with technical support and works on brand growth
  • She hopes to be able to travel in the future as he role changes
  • She has absolute respect for Dr. Michael Apa and has been working with him for about 4 years now
• Business growth
  • They bring different mindsets and ideas to business
  • And are provided with a different life style and a next exciting environment
  • Dr. David and Dr. Tarak
• • Outsourcing: by bringing Brazilian lab technicians to New York
  • Dr. Michael Apa mainly works in Dubai; but travels back and forth
  • Great team in Dubai lead by two main doctors
• Digital focus
• • Digital work cases vs. monolithic work cases
• The importance of ethical behavior and integrity
  • Focuses on supporting other dentists in the industry and makes sure that it is always the dentists decision to pick the right dentist representation
• • Describe Dr. Rosenthal as a role model
• Dr. Andi-Jean’s social media success
• • Organic growth
  • Engagement
• Wrap-up: Dr. Andi’s future plans and goals
  • She makes it clear that patient experience is key to connect with them
• • Continue building a successful career
  • Teach and lecture
  • Be the best clinician to her patients

References:

Aesthetics By Andi Instagram

Tweetable:

“If you have a clear vision of what your life should or could be like, you have to execute this!” - Dr. Andi-Jean Miro

“You are rewarded in public for what you intensely practice for in private”- Dr. Craig Spodak

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 100

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Watch full video of the interview by clicking here!

Key Takeaways:

• 100 Episodes of the Dental Practice Podcast
• Favourite episodes
  
  • Episode 89 with Steven Clausnitzer
  • Episode 88 with Dr. Marc Cooper
  • Episode 84 with Dr. Bruce Baird
• Patient experiences
  
  • Instagram marketing
• Dr. Boulden’s plans
  
  • Full time videographer
  • The constant quest for learning
• Google My Business
  
  • Preferential treatment
• Social promotion
  
  • The context of where you post
  • Different content for different channels
• Reflection & moving forward
  
  • Big year of growth for Dr. Spodak
  • Taking ownership of all areas of your life
  • Stress comes from knowing what to do & not taking action
• Setting Goals
  
  • Morning rituals
  • The disease of more
• Bulletproof going forward this year
  
  • Bulletproof Summit 2019
  • Summer Summit

References:

Flow: The Psychology of Optimal Experience

Live Forever With Steven Clausnitzer

Future of Dentistry: AI and Blockchain with Dr. Marc Cooper

3 Traits That Make A Dentist Profitable with Dr. Bruce Baird

The Disease Of More

Tweetable:

Stress comes from knowing what to do & not taking action - Dr. Spodak

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 99

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guests: Dr. Daniel Noorthoek & Beth Noorthoek

Key Takeaways:

• Background on Dr. Noorthoek
  
  • Dr. Noorthoek’s journey
  • Developing processes
• Done In One
  
  • Getting all the joy, but not the pushback & pain
  • The psychology of immediate results
• Differences in Dr. Noorthoek’s company
  
  • Marketing assets
  • Promoting the product
  • Backing it up
• Where he sees the industry going
  
  • Increase in demand
  • More data / outcome simulation
• The evolution of Done in One
  
  • Hang ups with his current processes
  • The ability to penetrate from a time & resource standpoint
  • Using other’s skills to support their market
• Helping other dentist’s advertise
  • Developing the marketing side
  • Packaging the product correctly
  • Sticking with the message

References:

Done in One

Tweetable:

Made for private practice, by private practice - Dr. Noorthoek

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Bulletproof Dental Practice Podcast Episode 97

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Dr. Peyman Raissi

Key Takeaways:

• Implant overdentures
• DIA conference 2018
• Methodology of Dr. Raissi
  
  • How did he get there
  • Background on Dr. Raissi
• Using Instagram as a tool in dentistry
  
  • Good quality content
• Dental Influencing
• Goals for his non-profit to give implants
  
  • How he will achieve his goal
  • Hurdles he might overcome
  • Education
• Education over money.
  • Highest & best use
• Knowing what your superpower in dentistry is
• How he opened his practice straight from school
  
  • Branding from the start
  • Marketing in implants  

References:

My New Smile Dental

Dr. Raissi’s Instagram

Tweetable:

Success Leaves Clues - Dr. Craig Spodak

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Bulletproof Dental Practice Podcast Episode 95

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Mark Costes

Watch full video of the interview by clicking here! 

Key Takeaways:

• Introduction To Mark Costes’s Podcast
• Mark’s Introduction
• Overview of Craig’s practice
  
  • Why he wanted a large practice
  • Craig’s Invisalign background
• Overview of Peter’s practice
  
  • Peter’s practices & model
  • Diversification with real estate
  • Peter’s vision
• Private equity
  
  • Valuations
• Craig’s vision & legacy
  
  • Revolutionize the profession
• The Bulletproof Practice book
  
  • Why Craig & Peter decided to write the book
  • To be the leaders they wish they had
• America’s best 401k
  
  • The traditional financial retirement model
  • Doing good in dentistry

References:

The Bulletproof Dental Practice

Tweetables:

Be the leader you wish you had -  Simon Sinek

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 94

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Brannon Moncrief

Watch full video of the interview by clicking here! 

Key Takeaways:

• Starting Dentappraisal
  
  • Background of Brannon
• When did the 75% - 85% of topline revenue become the practice valuation?
  
  • Easy metrics
• Specialty Practices
  
  • Buy-ins and margins are substantial
  • High profitability
  • Level of vulnerability
• What portion of sales are from people wanting to sell their practices vs those looking to onboard a partner
  
  • Reviving management burden
  • Moving locations
• EBITDA or subjective valuations
• 7 key factors for valuation
  
  • Revenue level and trends
  • Profitability level and trends
  • Type and size of patient base
  • Hygiene production and service mix
  • Facilities and equipment
  • Location
  • Opportunities for growth
• Average profitability of practices of 1.5 million and above
• Definition of EBITDA
• What is the average payment the DSO is taking after you sell?
• How private equity more often that not doesn’t help industries
• The average days on the market for a practice
• Options available on the marketplace
• Advice to the industry
  
  • Know your revenue
  • Monitor your practice
  • Manage it appropriately
• What is missing from the market      

References:

Dentappraisal

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 90

Hosts: Chuck Blakeman

Guest: Dr. Peter Boulden

Key Takeaways:

• Introduction To Chuck’s Podcast
  
  • Introduction to Peter Boulden
• Peter’s background
• The business side of dentistry
• Systems & processes
  
  • Start with the result
  • Defining success
• Goal setting      
  
  • Planning future success
  • Without action, it’s just an act of futility
  • Accountability
• Forming habits
• Perspectives on culture

References:

Checklist Manifesto

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 90

Hosts: Chuck Blakeman

Guest: Dr. Craig Spodak

Key Takeaways:

• Introduction to Craig Spodak
  
  • Craig’s background
• Value of knowing where we end up and when
• Freedom doctor and hostage doctor
• Major lessons that Dr Spodak has learned during his career
  
  • Keep pursuing
  • Living to work, not working to live
  • Know yourself, know what you want
• 3 modes that human beings operate in
• The importance of vision
• Fulfilment vs achievement
• Dr Spodak’s non-profit
• Dr Spodak's next goals 

References:

Chuck Blakeman

All-Star Smiles

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 89

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Steven Clausnitzer, CEO/Co-Founder of Forever Labs

Watch full video of the interview by clicking here!

Key Takeaways:

• Dentistry accelerates the aging process
• Introduction to Steven / Forever Labs
• Using young stem cells
• The best age to harvest stem cells
  
  • The younger the better
  • 8 opportunities to grow cells
  • Multi-potent
• Using sourced stem cells throughout the rest of your life
  
  • Cryogenically frozen
• Growing more cells outside the body than inside it
• Growing specific to an application
• What’s the difference in cord blood banking?
• Can I use my children’s blood / stems?
  
  • 50% rejection rate hoa match
  • Need your own cells
• What type of investment is this?
  
  • Moving from disease treatment society > health maintenance society
  • Longevity escape velocity - 12 years - time x money
  • $2500 procedure, $250 per year for storage, lifetime plan $7000 upfront
• Differences in dental vs health care, preventative medicine - longevity
• Free giveaway lifetime procedure
• Giving Away 1 FREE Lifetime Procedure: go.foreverlabs.com/giveaway/boulden, use code: Boulden

References:

Forever Labs

Giveaway for 1 FREE Lifetime Procedure

Dr. Aubrey de Grey “Ending Aging” video

Peter Diamandis

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 88

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Dr. Marc Cooper, President of DEO Dental Group

Watch full video of the interview by clicking here!

Key Takeaways:

• Artificial Intelligence
  • Machine to machine learning will eliminate the human interface
• Dental practice in 10 years given AI and Blockchain
  • No waiting rooms
  • Electronic patient records
  • Extensive vitals
• The tipping point
  • The dental future is past the tipping point
• Futurist
  • Looking towards something but also from something which gives a different perspective of what is going on
  • Dentistry will go where medicine goes
  • Healthcare never goes down in cost
• Dentistry 2032:The Future Report Overview
  • Large DSO’s will dominate the market
  • Robotics will place nearly all dental implants
  • Shift from technician to team leader
  • Always have a human interface
• Quality care
  • Quality means that it lasts
  • Quality assurance will be pervasive throughout dentistry
  • Patients will get better treatment
  • Insurance reimbursement will shift to AI and blockchain
• Successful Entrepreneurship
  • Move forward
  • Think in action
  • Hear the future differently
  • Integrate

References:

DEO Dental Group

The Tipping Point

Dentistry 2032:The Future Report

Tweetables:

Be willing to be wrong without making yourself wrong – Dr. Marc Cooper

There needs to be a fundamental change in the mindset of a dentist about what it means to be a dentist. – Dr. Marc Cooper

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 87

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Jairek Robbins

Watch full video of the interview by clicking here!

Key Takeaways:

• Everyone loves the idea of following your passion, but very few people can or will follow through
• What’s the purpose of business?
  • 1 – Add value to the community around you
  • 2 – Generate revenue and profit to feed the families of you and your team
  • 3 – Create a place where the humans who are going to work there are going to become the best version they can be
• 50% of business fail in 5 years, 96% fail in 10 years
  • Out of the 4% that survive, only 39% are profitable
• Good to Great is about companies who focus on meaning vs. making money
• In 10 years, the S&P 500 grew 122%, Good to Great companies grow 331%, Firm of Endearment companies grew 1,026% over same period of time
• Firm of Endearment companies focus on culture, people care about who you are and why you do it
  • These firms do something beyond themselves for the world
  • They take care of their people and they take care of their community
• Dentists have the unique opportunity to shape people in an area where people tend to have a lot of fear
• 10 tenets of a firm of endearment:
  • 1 – Culture of learning
  • 2 – Culture of trust
    • You want your people to know the parameters in which they can operate autonomously and you can trust their decisions
    • Authenticity, say what you mean and mean what you say, transparency
  • 3 – Culture of respect
  • 4 – Culture of caring
  • 5 – Culture of interdependency
  • 6 – Culture of integrity
  • 7 – Culture of fun (be childlike, not childish)
  • 8 – Culture of transparency
  • 9 – Culture of belonging & oneness
  • 10 – Culture of loyalty
• Values of companies have changed
• How you treat your team affects the profitability of the company
• Is your practice a firm of endearment? Click HERE for a free assessment!

References:

Good to Great by Jim Collins

Firms of Endearment by Rajendra Sisodia, David Wolfe, & Jagdish N. Sheth

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 86

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Vicki McManus Peterson, Co-Founder & CEO of Productive Dentist Academy

Watch full video of the interview by clicking here!

Key Takeaways:

• Dentists tend to get caught up in the sizzle of marketing, instead your plan should be predictable
• Suggestion is to budget 8% for marketing
  • Average dentist spends less than 1% but sign up for every PPO out there
  • If you’re at 0-1% make sure you have world-class customer service first, BEFORE turning on the marketing funnel, spend the money to get your team trained
  • Marketing is EVERYTHING
  • Once trained, shift those training dollars to marketing
• Track true ROI for your marketing dollars
• Track the relative value of your marketing
• PPC is the least expensive, most effective way to reach a broad audience
• Word of mouth and patient referrals is still the best marketing plan
• Make sure you have at least 10% of your patient base is referring at any one time, then work up to 20%
  • You’re getting new patients who are already warmed up
  • It holds your team accountable for systems and customer service
• One doctor needs a minimum of 35 new patients a month, depending a wide number of variables
• 9 times out of 10 in order to grow a practice you have to slow it down
• Insurance companies train dentists to be lazy about marketing
• There’s an offense and a defense in marketing
• Video content is most often consumed when people can’t actually listen
• Make sure you’re auditing the metadata Google is adding to your content
• Tie labor and marketing funds together
• Vicki says EBITDA stands for “Everybody In Town Drinks A lot”
• The best marketing plan is to CARE

References:

Richard Evangelista

Tweetables:

Marketing is patience. – Vicki McManus Peterson

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, and buy the book HERE!

Bulletproof Dental Practice Podcast Episode 85

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Dr. David Eshom, David Eshom DDS

Watch full video of the interview by clicking here! 

Key Takeaways:

• Dr. Eshom runs a very successful FFS practice in San Diego and is an Invisalign superstar!
• Invisalign is not a commodity, although there is a lot more competition in the field than before
• A lot of people underestimate what Invisalign can do
• Compliment your patients and make them feel good about their smile
• The piece of equipment that you shouldn’t live without and has the highest ROI: digital camera
• People will say yes to treatment much more when they see what can be changed with their smile
• Take a big leap with Invisalign, you can’t just dabble
• Entrust your team to learn and perfect the Invisalign practice so you aren’t responsible for all aspects
• Don’t leave practices angry and make sure you know what you’re getting into when joining a practice
• Private practices provide great value when you can make patients happy, take time to listen to patients, and do the work right
• You have to have a good website, it has to serve what patients are looking for
  • Have a contact form where people can request a free estimate
• Surround yourself with a great team and get out of their way

Tweetables:

Pictures sell dentistry. – Dr. Peter Boulden

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, buy the book HERE, and come to the Bulletproof Summit on October 12-13th 2018 in Atlanta!

Bulletproof Dental Practice Podcast Episode 84

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Dr. Bruce Baird, President and Co-founder of Productive Dentist Academy

Watch full video of the interview by clicking here!

Key Takeaways:

• Break down your production hourly to really find areas to improve in your practice.
• It’s not about speed, it’s about getting people to say yes to more dentistry.
• Grow your practice, sell it, try something new, invest
• Business ownership
  • Dentistry consolidation and competition is scary
• View of the future
  • There is consolidation
  • There are going to be group practices
  • There is economy of scale
  • Insurance will open massive opportunities for dentists who are entrepreneurs
  • Dentist owned/led mega practices
• Role of specialty in the future
  • Specialists will struggle
  • Technology is the equalizer
  • Implant Dentistry: Simplified, predictable and profitable
• Advice
  • Take on additional training to become a super GP
  • Be the best and learn new techniques and skills
• Direct pay, no insurance, will help find amazing opportunity
  • Compassionate finance allows people to make monthly payments
  • Insurance companies make $77 billion to screw patients and dentists
  • Dental Insurance CEOs make $23-46 million a year
  • Monthly payments will help 80% of people who aren’t being helped
• 7% of people make payments if payments are $100 or less a month
  • Interest offsets risk
• Top 3 traits that make a dentist profitable:
  • #3 – Clinical skills
  • #2 – Want to be the best
  • #1 – Communication skills

References:

Compassionate Finance

Tweetables:

If you’re going to do something, be the best that you can possibly be at it. Then teach others to do it. – Dr. Bruce Baird

With commitment, there is no room for failure – Dr. Bruce Baird

Design Your Graphics and Your Life with Russ Perry

Text ‘bulletproof’ to 345345 to stay in the know about all things Bulletproof, buy the book HERE, and come to the Bulletproof Summit on October 12-13th 2018 in Atlanta!

Watch full video of the interview by clicking here!

Bulletproof Dental Practice Podcast Episode 83

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Russ Perry, Founder and CEO of Design Pickle

Key Takeaways:

• Secret to the success of Design Pickle

• • Hire designers full time, treat them well, let them work directly with customers
  • Cultivate relationships
• Key elements of great content
• • Simple is always better
  • Emotional, different, disruptive graphic
  • Do not over communicate
  • Provide visual inspiration about design needs
• Design Advice
• • Deploy, just roll with it
• Warrior Week (Wakeup Warriors)
• • Training program for men
  • Reprogram men: health, wellness, relationships
  • Not a masculine program, but a man program
  • There is equality but there is a difference in man, woman, age
  • Men and women have different challenges when approaching situations
  • Eliminates the sedation that entrepreneurs experience
• Get 25% off your first month of Design Pickle HERE

References:

Russ Perry

In My “Fillings” Challenge

Warrior Week

The Blackout Experience

Tweetables:

Simple is always better. – Russ Perry

If you borrow from one, it’s plagiarism. If you borrow from many, it’s research. – Dr. Craig Spodak

Something is better than nothing. – Russ Perry

Do what you’re good at and hire out the rest. – Russ Perry

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 82

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Reese Harper, CEO DentistAdvisors.com

Watch full video of the interview by clicking here!

Key Takeaways:

• Average retirement age for dentists is 69
• Most dentists retire when they think they can, they don’t wait longer

• When to retire

• • Calculate total net worth, retirement accounts, cash, investment to determine
  • Make 30-35 times what is spent in 1 year at any age younger than 70
  • • Example: $200,000 spent in a year, net worth should be $6-7 million
  • TT Score: Net worth divided by annual spending
  • • Wealth should grow at 3.3% or more at a TT score of 30 to never run out of money and maintain principle
• A lot of people don’t have a clear picture of how their net worth is growing, so they don’t make any changes

• Track personal net worth statement and progress report quarterly
• Spending 30% of your total gross rate is ideal
• • This will allow a 20+% savings rate
  • Average savings % is 21
• Focus on net worth not savings
• People often pursue accumulating assets in the wrong order
• • Focus on practice equity, then liquidity, then qualified assets, then real estate

• More practice equity leads to higher investment returns

References:

Explore the Elements

Tweetables:

If you’re not getting a roadmap, how do you know where the roads are? – Dr. Peter Boulden

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 81

Hosts: Dr. Peter Boulden

Guest: Jacob Puhl, DEO Dental Group

Watch full video of the interview by clicking here!

Key Takeaways:

• Perspective on dental industry
  • Operationalizing: Consolidation of the highly fragmented dental industry
    • Practices are becoming legitimate well-run businesses
    • Locations are going from a lifestyle business to cost & convenience
    • Consolidation allows the easy button to be hit in the dental industry
  • Create efficiencies in the practice
    • Tendency is to open more locations but the goal is to expand your current location
    • Duplicity of functions under 1 location is key
  • Success Formula
    • Just make what you’re doing is the best that it can be
    • Instill sound principles and think like an executive
      • 1 step at a time vs taking 10 steps
      • Abundantly thinking towards next step
      • Decide what your next best dollar is
      • Open an extra 2 hrs/day, add specialties, reduce cost or raise revenue
    • Nature vs Nurture
      • Entrepreneurship can be learned by dentists
        • The key is to know yourself and know what you’re capable of
        • Have at least one business-minded person on your team
        • Hire for your inadequacies
        • Have a support system with like-minded people
      • DEO
        • Based on Mastermind Formula
        • Focus on 3 things; grow yourself, grow your people, grow your business

References:

Scrum Methodology

DEO 2018 Fall Summit – Should I Build, Sell, or Partner?  Use code BULLETPROOF for $100 Off Registration

Dr. Marc Cooper

Mastering the Business of Practice by Dr. Marc Cooper

Tweetables:

Make what you’re doing the best that it can be. – Dr. Peter Boulden

Don’t shrink your way to greatness. – Dr. Peter Boulden

Grow yourself, grow your people, grow your business. – Jacob Puhl

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 80

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Dr. Cory Glenn, VP of Technology for Blue Sky Bio

Watch full video of the interview by clicking here!

Key Takeaways:

• Quick Genesis: Dr. Cory Glenn
  • Graduated in 2008, started in solo practice right away
  • Treated Leukemia but back pain never got better
  • Sold the practice due to health issues
• Overview of where the digital workflow is and where it’s going
  • Digital isn’t new but it is finally accessible
  • The digital space is not a cost impediment
  • Example: Practice Clear Liner Ortho for under $300 a case with a $5k 3d printer
• Pros and Cons for 3D Printers
  • Moonray
    • Quality printer
    • Plays nice with more materials
    • Simple printer
  • Formlabs
    • Quality printer
    • Closed approach on what materials they will develop profiles for
  • Recommended Digital Printer: Moonray
    • Not because of accuracy but because of materials
    • Speed of print
    • Multi-functional
  • Scanner used to capture information: Shining 3D DSEX Scanner
    • Scans in 5 minutes
  • PVS vs Digital Scanning
    • PVS is preferred, cost is better, builds experience, is less demanding and easier
    • Digital Scanning makes you a better Dentist
  • Discovery of Scanning Impressions
    • Relatively new 2-3 years ago
  • Digitizing workflow and improving accuracy
    • Never send a physical impression to lab
    • Take a physical impression then scan
    • Send STL file to Lab Pronto (Uber for Dentistry)
    • Lab will send back a digital crown made from file
    • Do not need a printer for this process unless you want to print a model to cross-check
  • Recommend Digital Wax ups on everyone because it’s valuable
    • Hire 1 employee that only makes digital wax ups
  • DSD vs Digital Wax Up
    • DSD offers a higher level of service
    • DSD is more expensive
  • Denture Technology
    • One of the most important things a new Dentist should learn
    • Insurance reimbursement for Dentures is very poor yet the lab bill is the highest
    • Dentures are time consuming
    • Digital dentures do not solve these issues
    • Digital dentures are more expensive, does not cut down on time, does not cut down on appointments
    • Blue Sky Plan helps solve these issues with free software, Lab Pronto, printers & scanners
  • Technology is ready to deploy in dentures. A few options include:
    • Print teeth in white and print base in pink then bond together
    • Monolithic denture
    • MFH is a fav
    • Print base, place teeth, then let lab process

References:

Moonray 3D Printer

Formlabs 3D Printer

Shining 3D Scanner

Blue Sky Plan

Lab Pronto

IDT Dental Lab

Darin Throndson

Tweetables:

You can’t unring the bell when you show patients what they can look like. – Dr. Peter Boulden

Cheaper, easier, better is the goal. – Dr. Cory Glenn

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 79

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guests: Tyler Yim and other students from Temple University

Watch full video of the interview by clicking here!

Questions:

• What is the most valuable resource you use when you were learning how to run a successful business and still use today?
  • YouTube is a great learning source.
  • Don’t be afraid to take risks. Failure is a great way to learn.
  • Look to textbooks for dental education and model successful retail businesses for business education.
  • Podcasts are another great resource.
  • Look for CE outside the realm of dentistry.
• Did you utilize coaches and consultants as you were growing?
  • Craig is a huge Tony Robbins fan. Suggests looking outside of dentistry.
  • Pete and Craig share a coach to hold each other accountable.
  • You never want to get to the point where you think you’ve figured it out and don’t have to learn anymore.
  • Look for a coach outside of dentistry, more in business.
• Knowing what you know now about DSO’s, how would you change your business model?
  • There is a lot of runway for awesome, quality practices. Whatever model you ultimately choose just be sure you shoot to be the BEST you can be.
  • Consumers are expecting a lot. It’s very hard to do alone and solo as a new dentist. There’s safety in numbers.
  • The future for dental specialty is concerning, particularly because of disruption from technology. The future belongs to the super GP.
  • It’ll be easier to have larger offices in a wider geographic area.
• What do you recommend to new grads as far as overcoming obstacles?
  • Work for someone for a couple years instead of starting a practice right away. Very few licensed dentists are ready to go right out and kill it on their own.
  • GPR’s are valuable.
• What would be the most ideal pathway for getting the largest scope and the most experience at the fastest amount of time?
  • Surgical GPR’s are a good investment.
  • Immerse yourself as much as possible in technology.
  • Learn all you can about occlusion, as it’s the basis for everything.
  • Invest in CE.
  • Study public speaking and body language.
  • To be awesome you have to have clinical excellence and good rapport with patients.
• How does the future of dentistry look with having associates as employees vs offering ownership?
  • Most corporations do not care if you work there for 2 years and then take off. They plan that into their business model. Look for long term alignment and ownership.
  • The ownership mentality is something you must have. Do not join a practice if you’re not looking to be there long term.
• Focus on having one great practice vs. a lot of mediocre ones. Don’t scale too quickly.
• Have you experimented with influencer marketing on social media like Instagram?
  • Influencer marketing is the most underpriced attention out there.
  • It’s hard to utilize because you may not know how to source those influences in your community.
• Would you start an Instagram page while in school? Would you buy a domain name for SEO purposes?
  • Yes, develop your own brand RIGHT NOW. Buy the domain but don’t try to start building SEO currency. Develop yourself as dentist first, then when practice is open work on promoting your brand.
  • Start a dental relevant Facebook page and dental relevant Instagram page.
• How do you pitch to specialists? How do you get them to work for you?
  • You can’t build anything part-time. Figure out how to work together to keep them full-time at your practice.
• Are there are certain specialties that will be protected against consolidation and/or corporate takeover?
  • Whoever owns the patient owns the life cycle of the money. It’ll be very hard as a specialist to own that patient.
  • The price disparity between general UCR and specialist UCR will collapse.
• Who do you look to – outside of dentistry – for marketing ideas?
  • Storytelling marketing is key.
  • Inspiration can come from anywhere. Take cues from other retail businesses; Starbucks, Apple, etc.

References:

Good to Great by Jim Collins

Delivering Happiness by Jim Hsieh

Built to Sell by John Warrillow

T Bone Speaks Dentistry

Dental Hacks Podcast

Dr. Paul Homoly

Toastmasters

The Thank You Economy by Gary Vaynerchuk

Pre-Suasion by Robert Cialdini

Chris Ramsey

Donald Miller

Gary Vaynerchuk

Tony Robbins

Tweetables:

The speed of your mistakes dictates the speed of your learning. - Dr. Craig Spodak

Your speed of innovation is going to be equal to the speed of your success. – Dr. Craig Spodak

The cheapest marketing strategy ever… CARE. – Gary V

Peer pressure makes everybody better. – Dr. Craig Spodak

If you don’t make it easy for patients to do business with you, someone else will. – Dr. Craig Spodak

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 78

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Trevor Maurer, President and CEO of Smile Source

Watch full video of the interview by clicking here!

Key Takeaways:

• Smile Source is not a DSO, it’s an affiliation of great dental practices.
• When presented with 4 logos,15% of consumers would choose services from “Dr. John Smith.”
• “Monarch Dental, Dr. John Smith” has a 22% preference.
• “Dr. John Smith, a Member of ABC Associates” has a 27% preference.
• “Smile Source, Dr. John Smith” has a 37% preference.
• Practice names do matter. Any affiliation above “Dr. John Smith” will carry significant weight.
• Fewer than 10% of current grads want to own a practice. That percentage goes up significantly after a few years practicing.
• When choosing a practice name, Trevor recommends having the dentist’s name in it somewhere as a sub-brand but have an affiliation with something much larger.
• Smile Source’s research favors a sub-brand doctor name. The doctor’s name adds community connection, while the main brand associates with something larger, with benefits.
• When a patient asks for a brand by name, the doctor gave it to them 87% of the time.
• However, patients only ask for specific brand names 4% of the time.
• Branding is great, but don’t be bullied by brands.
• The greatest fear in dentistry right now is fear of corporate takeover.
• Corporate is targeting schools because they’re not getting the talent they want from established market.
• Private equity is pouring money into the market right now, and for the time being it’s good for everyone.
• Money is making good returns, the labor pool is interested in the message, and there’s a gender shift.
• You used to be able to get by opening a dental office with a “place to sit and a place to spit,” now you need so much technology and HR experts.
• You don’t need to go corporate to get that kind of help. Smile Source helps the little guy win.
• Smile Source has resources to allow dentists to work together to pool their resources, you get the benefits of larger practices while still being individually owned.
• The majority of practices in the country are part of the traditional cottage industry.
• Private practitioners need to recognize that most patients want extended hours.
• 21% of dentists are part of a group or DSO.
• The right time to bring in an associate is when you have the best time, money, and energy.
• You’ll find people who have just come out of dental school. They’ll need to understand their production might be low to start and they have to hustle to make themselves valuable to the practice.
• Finding an associate is all about finding the right relationship for your practice.

References:

Built to Sell by John Warrillow

Tweetables:

Patients are consumers before they’re patients. – Trevor Maurer

Stay committed to the process of growing. – Dr. Peter Boulden

If the rate of change on the outside exceeds the rate of change on the inside, then the end is near. – Jack Welch

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 77

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Reese Harper, DentistAdvisors.com

Watch full video of the interview by clicking here!

Key Takeaways:

• There are big differences between fee-based and fee-only financial advisors.
  • People assume “fee-based” means you only charge fees, but advisors who say they are fee-based generally also take commissions.
• Bad financial advice comes from product salespeople who get paid commissions. Good advice generally comes from people who get paid for their time, or percentage against an investment account.
• Make sure your financial advisor is disclosing ALL FEES UP FRONT.
• Everyone who is commission based have a strong conflict of interest. They are incentivized for pushing products that may not be in your best financial interest.
• Your financial advisor should be a registered investment advisor, and an independent, fee-only fiduciary, and nothing else.
• If your broker/dealer/advisor is spending a lot of money on you it is a red flag.
• The more you learn about finance the more you’ll know the current financial market model is crazy.
• For dentists who have “found money,” the first & best thing you should do is invest it in your business.
• Dentistry is an amazing career, but there’s a huge barrier to entry.
• Use your money to work toward at least a 20% operating margin beyond your production.
• If your practice is good and doesn’t need investment, you can use your money to:
  • Build businesses
  • Buy liquid assets (minimum 6 months of living expenses) (cash, mutual funds, anything you can pull out that isn’t tied up)
  • Work on retirement plans
  • Buy real estate
• To be a serious investor you have to take risk. In order to take risk you have to be liquid.
• Pay attention to your debt-to-income ratio.
• In a calendar year, do you have more than 20% of your gross income left over? If you’re not accumulating 20-25% liquidity every year you haven’t earned the luxury to reduce your debt on an accelerated basis.
• Your income can only go to:
  • Savings
  • Spending
  • Debt
  • Taxes
• The ratio of your income mix dictates what you can do.
• It’s more important to get into the right working situation than it is to pay down your student loan debt.
• Not everyone is cut out to be a practice owner. There are a lot of benefits to being an associate, and you don’t have to be an owner to max your earnings.
• There is a correlation between income and ownership. Owners tend to make more, but that’s because 30% of owners manage their practices really well and are killing it. 70% of owners really struggle, to the point where it’s probably a wash whether they should be an owner or not.
• If you’re smart, your first associate hire will cut your income. As an owner you have to go through periods where you make less than you would as an associate.
• You have to have a net worth that is about 30x your annual spending in order for work to be optional.
• Dentists don’t invest their liquid assets aggressively enough. They’re too conservative, and it costs millions of dollars over a 25-year career.
• The 3-factor model says investments grow more than average because they are:
  • Smaller vs. bigger
  • High value companies vs. high-growth
  • High quality & profitably vs. low-profitability
• Run if your CFP is telling you to get out of the market now because a correction is coming.
• You know you’re too conservative if your investments didn’t beat the S&P return.
• Your investments can earn 10-13% every year if you invest wisely.
• Keep tuning in to Bulletproof Dental Practice podcasts for the next interview with Reese!

References:

Fama–French three-factor model

Tweetables:

It’s difficult to get a man to understand something when his salary depends upon his not understanding it. – Upton Sinclair

The things that drive owners are not always financial. – Reese Harper
No business tries to pay down debt as their first goal. – Reese Harper

Money is an emotional thing, it’s not logical. – Dr. Craig Spodak

As long as you’re loving what you do and you’re not oppressed by it, that is freedom. – Dr. Craig Spodak

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 76

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Elijah Desmond, Driven Dental Marketing & Smiles At Sea

Watch full video of the interview by clicking here!

Key Takeaways:

• The next Smiles At Sea cruise is in September, then there’s another in March.
• Changing someone’s smile will often change their whole life.
• Focus on life-changing moments.
• Finances are the #1 impediment to enrollment. Team mindset is #2, #3 is contact rate.
• Your team can develop mindsets about certain types of people that lead to not giving 100% for every patient every time.
• Go into treatment presentation with he mindset that EVERYONE offers opportunity.
• Offer multiple financing options so the highest number of patients can accept treatment.
  • CareCredit is the go-to.
• Marketing is useless if your contact rate is low. Potential patients want information NOW.
• Consumers expect convenience for EVERYTHING.
• If you treat people with empathy they’ll think you’re the best dentist ever.
• Personal referrals are everything.
• Social media is for engagement. It’s the modern-day word of mouth, on steroids.
• The number of reviews – and the frequency – are both important.
• Dentists should not be spending all their time doing consults.
• Offer a minimum of 2 implant options.

References:

Every Day a Friday by Joel Osteen

Lead Owl

Bulletproof Summit 2018

Proceed Finance

Tweetables:

Treat everyone with empathy. – Dr. Peter Boulden

Every dental professional should be an educator. – Dr. Craig Spodak

Change someone’s life and they’ll be a walking billboard for you. – Elijah Desmond

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 75

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Reposted From: Dentistry Uncensored with Howard Farran

Watch full video of the interview by clicking here!

Key Takeaways:

• Statistics show that if new dentists work in a DSO for more than two years, the statistic probability is they’ll stay there for 7-10.
• About 70-80% of new dentists who go into DSO’s right after school will leave within two years.
• When everyone is pulling on the rope at the same time it creates better team alignment.
• People are always the biggest stressor in businesses. You’re always one employee away from starting the whole process over.
• Storybook leadership isn’t the most effective leadership. Real leaders come in all shapes, sizes, and styles.
• Patients are looking for experience. If your team is disengaged your results won’t be as good. Create a raving team and your patients will follow suit.
• The American public is dumbed down to think that if it’s legal, it’s always safe. People are waking up to the reality that you have to be discernable with your consumerism.
• For marketing, craft a story that’s compelling enough to talk about. Make yourself worthy of being talked about and treat that as your marketing plan.
• Focus on net patient growth. You have to differentiate yourself.
• Business is innovation. You need to flip everything on its head and create a value proposition that’s unlike everyone else’s.
• Realize that patients are grasping at value. They don’t understand the quality of your work, they judge you based on how you treat them and how your office looks.
• All-Star Smiles provides dental care services to children in need throughout the U.S.

References:

Uncomplicate Business by Howard Farran

All Star Smiles

Tweetables:

Real leadership is putting other people’s needs above yourself. – Dr. Craig Spodak

The best leaders are the ones you don’t even feel. – Dr. Craig Spodak

A leader is best when people barely know he exists, when his work is done, his aim fulfilled, they will say: we did it ourselves. – Lao Tzu

Your patients can feel loved if your team doesn’t feel supported. – Dr. Craig Spodak

Give people a reason beyond your dentistry to like you more. – Dr. Craig Spodak