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
  1. Realize you’re not the most important person
  2. Get an awesome team and then get out of the way
  3. Team will protect your environment
  4. Value of having a morning meeting, covering:
     1. REVIEW DENTAL INTEL
     2. Production / Collection / Goals

• Same day opportunities

1. Actual monthly growth (NP - attrition)
2. Outstanding treatment?
3. Outstanding balance?

• Marketing opportunities?

• PRIDE in physical space
  1. Team loves their offices
  2. Spend more time there with family
  3. Your practice has guests all day long - be proud & invest in it
  4. Focus on patient experience
  5. Rehab? Do it. Build? Do it.
• Clinical excellence & patient education
  1. Lots of lip service but few execute on communicating excellence to the people who matter
     1. What good is clinical excellence if you can’t use it
     2. Become a marketing master
        • Storytelling
        • Video, video, and more video

• Addicted to social media
  1. Not outsourced
  2. Not spewing dental, but creating entertainment
     1. Examples
  3. Marketing on social media
  4. Follow trends, look at the app store
• Online reviews & process
  1. Why is Amazon the leader in consumer?
  2. Our process
  3. Time is precious so incentivize
  4. Google & Yelp are the leaders, Facebook is a far 3rd place
  5. Yelp hack
• Number obsessed
  1. Monitor numbers daily (morning meeting)
     1. DENTAL INTEL
  2. What you track & focus on naturally increases
     1. Pearson’s law: That which is measured, improves. That which is measured and reported, improves exponentially.
  3. Focusing on WRONG metrics...
     1. Not just NP
     2. Not just collections
  4. Better metrics…
     1. # patient visit
     2. $ per patient visit

• % overhead

1. ACTUAL monthly growth

• Value creation
  1. Video / education
  2. Patient experience
  3. Website / marketing
  4. Law of reciprocity
• INVEST IN YOU
  1. CE, podcasts, meditate, enhanced food & nutrition, personal trainer, personal coach, executive assistant, complex physical w/physician, Bulletproof coffee
  2. You better be GOOD first, lots of peeps depend on you
  3. Set goals & review them daily
     1. Balance circle
     2. What’s going to move the needle forward TODAY
  4. BE EPIC as a goal, in all areas of your life
  5. 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

Bulletproof Dental Practice Podcast Episode 28

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

Bulletproof Dental Practice Podcast Episode 27

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Fred Joyal / Founder of 1-800-DENTIST

 Key Takeaways:

• Many dentists still struggle with basic ideas of effectively promoting and marketing their practices.
• Patients judge you by their experience, and 90% of the patient experience is non-clinical.
• Developing clinical skills is important, but success is determined by the office’s culture.
• Building better relationships with your team and patients will make you wildly successful.
• A good patient who you treat well will earn you five new patients.
• The best marketing strategy is to CARE. The new economy is centered around caring and convenience.
• Dentists obsessed with adding value for patients are those who are killing it. It’s not about you.
• Everything the patient experiences (sees, touches, tastes, hears and smells) affects case acceptance.
  • Most of our decisions are not rational, they’re based on feeling.
  • If you don’t trust the doctor it doesn’t matter how much pain you’re in.
• Patients should feel in control of their decisions based on your communication with them.
• If you put people in a better mood they’re more amenable to accepting treatment.
• You can’t always compete on a macro level, so deliver experience on a micro level.
• If the dentist isn’t comfortable communicating benefits to patients find someone who is and have them present treatment options. The dentist only has to be good clinically, have remarkable personable people around who can’t resist upselling dentistry.
  • Assess the personalities around you and find people to complement your weaknesses.
• If your business is making time AND money for you, that’s a business. If you work hard and it makes money because you put in more time that’s a job.
• Create freedom for your team to make you aware of where you can do better.
• Learn how to build rapport with your patients. Keep focused on your mission to help educate the patient and prevent future pain, not on closing a sale.
  • Learn public speaking skills, study neurolinguistics. These skills will catapult you to the next level.
  • The whole environment has to support your mission; whoever is presenting the case needs to listen, watch body language, empathize with their position. BUILD TRUST.
• Express appreciation to your team members. That’s where real motivation comes from.
  • Exercise: for the next week, express appreciation to everyone you encounter, to an absurd level. At the end of the week, gauge how you did. You’ll see the reaction and see how it makes such a huge impact.
• Work hard to make the people you encounter feel better about themselves.

References

• Everything Is Marketing by Fred Joyal
• Becoming Remarkable by Fred Joyal
• Get Fred’s books for $10, including shipping, by using code FREDJOYAL

Tweetables:

Don’t be obsessed with you, be obsessed with your patients and adding value for them. – Dr. Craig Spodak

People want to buy but they don’t want to be sold. – Dr. Craig Spodak

You’re not on an island, surround yourself with people who can fortify your weaknesses. – Dr. Peter Boulden

Nobody is great at everything. If you do everything, you’re probably average at everything. – Fred Joyal

Feeling gratitude without expressing it is like wrapping a present and not delivering it. – Fred Joyal

Trade your expectations for appreciations and your whole world changes in an instant. – Tony Robbins

The business doesn’t serve you, you serve your people. – Dr. Craig Spodak

Bulletproof Dental Practice Podcast Episode 26

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Stuart Faught / Founder of PatientSnap.com

Key Takeaways:

• Online reviews are crucial to the success of your dental practice, they can also be very hard to obtain.
• Make sure every patient receives a text message right after their appointment asking for review and giving links to post a review.
• Key platforms are Yelp, Google, and on your website.
• 88% of patients are currently checking online reviews before going into a practice.
• There’s a democratization of small business; people have a much greater power to make or break your business.
• Shoot for getting the most stars and the best reviews.
• Cadence and consistency are important. Look at your review request process as an evergreen strategy and not a quick fix.
• Respond to every negative review, and at least some of the positive reviews. Every review response is another marketing opportunity.
• Even the best practices will eventually get a bad review. An occasional bad review actually authenticates all your positive reviews.
• Use bad reviews as a way to get patient feedback and an opportunity to keep them as loyal customers.
• Reviews translate your culture, can add value to the business’s sale price, and attract top-performing talent to your office.
• Best practice:
  • Doctors have say-so on which patients should get request to review
  • Have one person accountable for actually sending
  • Use technology to send a text
  • Ask screening questions first; ask if experience was positive or negative
  • If they’re positive they’re sent links to review on Yelp, Google, or website
  • If negative they are sent to feedback comment box and assure them you’ll work to make things right
• It has to be easy or they’re not going to do it.
• Target conversion rates is at least 10% of requests.
• Don’t spam, patients shouldn’t be asked to write a review more than once every six months.
• Make reviews fun, get your team excited and reward your team and patients for their efforts.
• Review add-ins are also key; work to get patients to check in, add a picture, and interact with the review platform as much as possible.
• We’re just barely scratching the surface with “social proof.” Everything is moving toward video and authentication.
• PatientSnap.com is offering a 30-day trial to listeners who try out the demo.

Tweetables:

Online reviews are the modern day word of mouth. – Stuart Faught

People don’t buy what you do, they buy why you do it. – Dr. Craig Spodak

Bulletproof Dental Practice Podcast Episode 25

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Erika Pusillo / Practice Optimizer @ Spodak Dental Group

Key Takeaways:

• Running a 4-person office is quite different than running a 40-person team, the key is having the right leadership for your team.
• Every new stage in your life requires a different version of you.
• Seek areas that need improvement and try to optimize those areas.
• Leadership is essential for practice growth, having one person running the whole show can lead to breakdowns.
• Leadership is bringing other people around you up and into ownership.
• Nothing will ever be perfect. Start and try, if it doesn’t work the first time then identify what that is and change it. If it does, then multiply those things that work great.
• The goal is to allow team members to think for themselves, with leadership’s guidance on best practices to get results.
• Writing down your vision and sharing it creates a snowball effect. Your whole team will be inspired and empowered.
• Any relationship that is transactional is not a good relationship.
• Raises should be based on contributions to the practice and producing results, not simply showing up and doing your job.
• Any practice’s greatest asset is its human capital.
• The first step in making sure everyone is aligned with the practice’s values is to define your vision and include the team in your goals. Have the team be a part of the decision-making process.
• Set goals and attach a metric to them. Make sure your team is motivated and ahead of the game to achieve those metrics.
• Drive your team to be hungry for knowledge and give them leeway to seek knowledge in many different forms.
• Is there one person already in your business that thinks and acts like a stakeholder? Help them develop their leadership skills.
• Mastermind with your team. Reward and recognize when the team is doing things right.
• Great leadership isn’t when the leader has all the answers, it’s when they recognize they need other people and their experiences for the greater benefit of the team.

Resources Mentioned:

GOTT Summit

Bonnie Hickson – The Progressive Dentist

Chuck Blakeman – Why Employees Are Always A Bad Idea

Chuck Blakeman – Making Money is Killing Your Business

Dave Logan, John King, & Halee Fischer-Wright – Tribal Leadership

Napoleon Hill – Think and Grow Rich

Jim Collins – Good To Great

Liz Wiseman – Multipliers

Tweetables:

Management has to happen; it just has to come from inside. – Dr. Craig Spodak

Managers are focused on the process; leaders are focused on results – Dr. Craig Spodak

The leader’s job is to ask really good questions, if you’re not getting the answer you want, change the question. – Erika Pusillo

Work is not just for money, it’s for fulfillment. – Dr. Craig Spodak

We don’t get where we are as individuals by ourselves. – Dr. Peter Boulden

Everyone wants to work for a company that is not plateauing, but growing. – Dr. Peter Boulden

Employees are all stakeholders in your business. – Dr. Craig Spodak

The lives of a lot of people are attached to the decisions that you make. – Dr. Peter Boulden

You get more of what you praise. – Dr. Peter Boulden

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

Bulletproof Dental Practice Podcast Episode 24

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Bruce Johnstone / Apex Design Build

Key Takeaways:

• It is better to have one team handle everything rather than having separate contractors handle your renovation.
• In a Design-Build Model, the liability and risk is lower because you talk to only one supplier committed to finishing the design.
• Look at dentistry as a retail function than a health care function in order to learn how to utilize space in new ways.
• Dental offices can become like retail stores by looking at ways to make patients comfortable while they wait.
• No one goes to a dental office thinking they’ll have fun. Dental offices have to shift their space so it is more engaging for customers and makes them excited to visit.
• A lot of things affect your patient’s perception like the lighting of your clinic, the color, the upholstery of your furniture, etc.
• The best source of new customers is from internal referrals. You get more referrals if patients like your practice.
• You can put some of your marketing budget into creating a better and patient-friendly clinic.

Tweetables:

“People don’t mind waiting as long as there is engagement.” - Bruce Johnstone

 “Dentistry can take a cue from retail.” - Bruce Johnstone

 “The easiest way to market is to make your practice marketable.” - Dr. Peter Boulden

Bulletproof Dental Practice Podcast Episode 23

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Josh Robbins / America's Best 401k

Key Takeaways:

• The 401k is a massive liability for any business owner.
• As the business owner, you are in charge of setting up the account for the sole benefit for your employee.
• The providers of 401k are broken. There are too many so you need to choose the right one for your team.
• There are many funds within a 401k plan. You need to know what and why it is being offered and what fees are being charged.
• The best scenario is a level playing field where there are no middlemen and you get access to all funds regardless of how big your plan is.
• You can hire a fiduciary to handle your 401k liability for your employees.
• Investigate the fees being charged to your 401k plan. Most can be cut off.
• Dentists are easy prey for 401k brokers because of several factors: high income, recession proof, want to look out for their teams, etc.
• Brokers don’t earn from startup 401k plans so they give a different kind of plan that will earn them a lot. You can save on these fees by going to a fiduciary company.
• The earlier you start your 401k plan, the better – you’ll save more for less equity / contributions.
• Auto-escalate your contributions to your 401k fund.

Resources Mentioned:

www.freetonybook.com - Unshakeable by Tony Robbins

Tweetables:

“The 401K is a good thing. You just need to have the right one.” - Josh Robbins

Bulletproof Dental Practice Podcast Episode 22

Host: Dr. Peter Boulden / Atlanta Dental Spa

Guest: Craig Cody

Key Takeaways:

1. Mistake 1 - Failing to plan. Like buying a car or a house, you need to make a plan how you’ll pay off your taxes.
2. Mistake 2 - Choosing the wrong entity to operate. You need to understand the different types of entities available before deciding which entity you would choose.
3. Mistake 3 - What-if Paranoia. Do not be afraid of the questions of the IRS as long as you follow the tax codes and everything is documented. Don’t be afraid to take a legitimate deduction.
4. Mistake 4 - Getting the wrong retirement plan. Understand the different plans available to your employees and those that they’ll resonate to. Ask for advice from your CPA.
5. Mistake 5 - Missing family employment if you have kids. Kids can become employees of your business and you can pay them wages to cover other non-deductible expenses.
6. Mistake 6 - Not implementing a medical expense reimbursement plan. This works for some entities and can be used to cover out-of-pocket medical expenses.
7. Mistake 7 - Missing legal deductible items such as:
   1. a health care facility for your home office like a pool or a home gym
   2. vehicle expenses when the vehicle is used for business
   3. meals and entertainment
8. Mistake 8 - Failing to rent out your home for business meetings. Just be careful not to go overboard.
9. Mistake 9 - Not depreciating properly all the costs to set up your practice.
10. Mistake 10 - Not consulting with professionals. Be proactive and ask for advice. Choose a CPA who is proactive.

 This episode is not intended to replace the professional advice of your tax preparer or CPA.

Resources Mentioned:

10 Biggest Tax Mistakes That Cost Business Owners Thousands - by Craig Cody - www.craigcodyandcompany.com/bulletproof - Receive a free copy of the book!

Secrets of a Tax-Free Life

 Tweetables:

“If you’re doing something and it says you’re allowed to do it in the tax code, let them (IRS) ask you about it. As long as you’ve documented why and how you’re doing it then you’re ok.” Craig Cody

“Tax evasion is blasting through the toll booth and not paying the toll. Tax avoidance is taking side streets around the toll legally to get to your destination.” Dr. Peter Boulden

Bulletproof Dental Practice Podcast Episode 21

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Key Takeaways:

• Find fulfillment in helping others.
• Today is the golden age of dentistry.
• To create a raving fan culture, your team must know how to make creative solutions within a given paradigm.
• Self-managed teams - they know what to do and they manage themselves. This results in more fulfillment.
• Tell your employees the WHY of the job. Make it results and performance-based.
• Learn to be self-sufficient first then learn to delegate the job.
• Referrals happen organically.
• Recognize your culture and explicitly define it.
• Self-managed team can hire their own people.
• You have to talk about your culture and give examples about it daily.
• Talk about the most important thing to your people outside their annual review. You’ll find out it’s not really about the money.
• Concept of peer-to-peer rewards. Focus on giving your people experience.
• Customers mostly review the culture.
• Make it a safe environment for your team and customers to give you honest feedback.
• Own the honest feedback you get.

 Tweetables:

 “You don’t get burnt out because of what you do. You get burnt out because you forgot why you do it.” - Dr. Craig Spodak

 “Insurance is the penalty you pay if you do not build a raving fan culture.” Dr. Craig Spodak

 “If we are not creating the millennial experience, the millennials won’t be our patrons in the future.” Dr. Peter Boulden

 “Be dynamic. Don’t think that what worked 6 months ago will work again today.” Dr. Peter Boulden

 “Everyone has a culture. It may not just be the one you want.” Dr. Peter Boulden

Resources Mentioned:

Books:

Making Money is Killing Your Business by Chuck Blakeman

Why Employees Are Always a Bad Idea by Chuck Blakeman

Extreme Ownership: How U.S. Navy SEALs Lead and Win by Jocko Willink

Bulletproof Dental Practice Podcast Episode 20

Host: Dr. Peter Boulden / Atlanta Dental Spa

Guest: Michael Levin 

Key Takeways

• Dentistry is a crowded marketplace. You can distinguish yourself by writing a book.
• You can target niche audiences using a book and build your credibility in that niche.
• Writing a book is easy using the right resources. You don't even need to write the entire book. You can hire ghostwriters to write it using the knowledge you have.
• Patients who buy your books and become fans can be your sales force. They become advocates of your practice.
• You can market your books by giving them as giveaways.
• Write books that will educate your market. This will create value for your customers.
• You can write books about your legacy as a dentist.

Resources Mentioned:

Books:

Sober Dad by Michael Graubart

River of Doubt by Candice Millard

The Hundred-Year Marathon by Michael Pillsbury

App:

Headspace

Tweetables:

"People are grateful to the educator." Michael Levin

"If you create enough value in the first 95% of the book, you are entitled to a call-to-action at the end of the book." Michael Levin

This is a republished interview from The Relentless Dentist. I met Dr. David Maloley of Avon, Colorado - at the Voices of Dentistry conference in Nashville, TN this February.   His energy and story that I heard during his presentation  almost compels you to live that EPIC life....and the relentless pursuit of it.   It was an incredible conversation-  check it out!

Bulletproof Dental Practice Podcast Episode 18

Host: Dr. Peter Boulden / Atlanta Dental Spa

Key Takeaways:

3 Reasons for Doing a Morning Huddle

1. Bring your team into alignment
2. Allow you to discuss opportunity
3. 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

1. Be more efficient with your money by keeping more of what you make.
2. Strategically engineer wealth to eliminate diversification.
3. Accelerate investment by finding ways to make them produce cash.
4. Scale your business revenue.
5. 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:

1. Be proactive with your team and communicate with them.
2. Find all the related expenses to your business and write them off for tax deductions.
3. 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:

1. Write 3 things you are grateful for. Gratitude is super powerful in your life.
2. Spend a few minutes sitting in a quiet place and focusing on your breathing.
3. Visualize your agenda for the day in your head including what you feel.
4. 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