Bulletproof Dental Practice Episode 325
GUEST: Dr. Trey Tippit
Building the Stage
Systems and processes
Individualism is what matters
Five things that you have to do to work on your business
The Bulletproof Pathway
Dentists as CEO's
Dental business owners have very different lives
Success is building what you want and then liking what you built - Dr. Craig
Bulletproof Dental Practice Podcast #324
Repost from our sister Pod, Bulletproof Hygiene!
Dr. Lee's experience with Surguries
Oral Systemic Aspect
How do we prevent periodontal disease
Heart attacks and strokes are caused by oral infection
Pain points in bringing this level of care to fruition
What did implementation look like?
Understanding the science is the most crucial part
Wins by practicing at this level
Wins from team culture
What is the MMP8 enzyme?
Genetic predisposition for inflammation
Bulletproof Dental Practice Episode Number 323
GUEST: Mitchell Baldridge
Cost Segregation applies to dentists
Tax Advantage for Dentists
Investing with excess cash flow
Cost Segregation Study in its simplest form
The end goal is to push forward your tax deduction
Cost segregation and bonus depreciation
Specialization is key with a niche service such as dentistry
You’ve got to do your own due diligence - Dr. Craig Spodak
Bulletproof Dental Practice Episode 322
The Bulletproof Dental Practice Podcast Episode 321
GUEST: Dr. Uche Odiatu
Bulletproof Dental Practice Podcast Episode #320
GUEST: Mitchell Baldridge
Bulletproof Dental Practice Episode #319
The Bulletproof Dental Practice Podcast Episode 318
Path of Life
Scaling to the place where become optional in practice
Seven habits of having successful
Good systems, Good operations
Taxes and Assets
Real Estate Passive and Active
Power of compounding
Raising Kids to be successful
The Bulletproof Dental Practice Podcast Episode 317
Host: Dr. Craig Spodak
Guest: Parker Smith
Short term rental vacation rental management
A Breakdown Results in a Breakthrough
Barriers to hiring
Theory of HR
The importance of having a mentor
Ego and over-confidence
Adrenaline of running a business.
A Vision is a Highly Descriptive Gameplan
Your body releases dopamine when you talk about goals you want to achieve
Happiness and success are defined differently for every person
Having a mentor is the best thing you can do as a business owner
The ultimate freedom is being able to control the outcome of your life
The Bulletproof Dental Practice Podcast Episode 316
Guest: Jay Letwat
Group Practice vs solo practitioners
No one ever thinks of dentistry as an industry
Better Technology Adoption
Digestible monthly payments
Location for DSO
Recourse on your loans
Different than whether it's recourse or non -recourse
Associate patient financing
Credit Card Score
The Bulletproof Dental Practice Podcast Episode 315
Guests: Dr. Dwight Peccora
How to build profitability
Presence of the community
Word of mouth
Renovate to impress buyers
Why technology is the greatest training method
Attracting “A players”
Technology benefiting the team
Bulletproof Dental Practice Episode 314
IRS halts Processing claims for ERC
How Banks love the dentist
What Landlords love the most
Real Estate and Healthcare Real Estate
Why Twitter (X) is a more interesting site than Instagram and LinkedIn
Intellectual conversation on Twitter (X)
Difference remarkable and Amazon (kindle)
Hardship of Dentistry
Have alone time to get some realization
How AI can help dentistry
College and First Job of Dr. Peter Boulden
Rules in School and Rules in life
Publishing a book
Quantity has a Quality all of its own
Everyone Scared in Dentistry
Opening a 5th Branch Dental Spa
Tips when you are building a building
Putting Money in the Bank
Buletproof Dental Practice Episode 313
· Craig's interest in social media content and dental discussions
· Questioning the purchase of 7% of a dental practice for $500,000
· Examination of the math behind company valuation
· Discussion on dentists' retirement savings and early retirement
· Trey's questions about investment returns and the value of a $500,000 practice
· Comparison of fractional ownership and traditional practice buying
· Identifying risks and success markers in practice ownership
· Evaluation criteria for dental practice investments: yield, appreciation, downside protection, and tax efficiency
· Craig's 10yearold dental practice undergoing interior remodeling
· Initial low yield expectations for the investment
· Projected appreciation in the second and third years
· Value of dental practice real estate with longterm leases
· Discussion of return on capital and tax efficiency
· Benefits of investing in a new facility for organizational profitability
· Importance of a clear evaluation framework and vision
· Challenges and benefits of being social and patientoriented
· Introduction to an acquisition opportunity for discussion
· Costs associated with acquiring a dental practice
· Trey's approach to negotiating deals and profits
· Exploring the entrepreneurial profit and purchase price
· Building relationships with bankers for safe leverage and returns
· The role of EBITDA in arbitrage and economies of scale
· Sharing experiences with new and existing practices
· The evolving perspective on entrepreneurial freedom and growth
· Managing risk and expanding the business through strategic partnerships
· Success leaves clues, referencing Peter's routinesclubs.com website
· Insight into Peter's daily routine and health tips
· Information about Peter's morning routine
· Dentistry's need for successful role models and influencers
· The challenge of aligning choices with one's desired lifestyle
· Peter's creation of a custom bulletproof GPT vector database
· The podcast's purpose in gathering diverse data and insights
Bulletproof Dental Practice Podcast Episode 312
Guests: Jeff Hopeck
Introduction: How to Become Bulletproof
The OPM Hack and Sophisticated Hacking
Existing Problems and Vulnerabilities
Rise of Human Hacking and Exploitation
Social Hacking and Target Exploitation
Protecting Investments and Expanding
Practical Advice for Protection
Web Scraping and Dark Web
Taking Action and Seeking Cybersecurity
Establishing Cyber Baseline
Transparency and Cybersecurity
Cybersecurity Concerns and CEO Worries
Facing Competitive Challenges
Micro-Awareness and Key Insights
Safety Measures and Human Hacking Story
Conclusion: Creating Awareness
Bulletproof Dental Practice Podcast Episode 311
Guests: Dr. Trey Tippit
Emphasis on content that resonates with audiences over a perfectly crafted message.
Recognition that well-executed videos can achieve wider reach and engagement than ideal messages.
Insight into the key elements that contribute to impactful videos, such as choreography and meaningful content.
Discussion on the rapid onset of burnout and its underlying causes.
Identifying the significance of mentorship, challenge, and personal fulfillment in preventing burnout.
Addressing the importance of progress and setting goals for career satisfaction.
Highlighting the value of personal development and planning in achieving fulfillment.
Recognizing the value of self-awareness in finding purpose and fulfillment.
Addressing office drama and advocating for open communication and constructive criticism.
Defining the negative impact of office gossip and its role in creating problems.
Encouraging a culture of autonomous problem-solving and growth.
Emphasizing the need for dental professionals to acquire essential life skills beyond dentistry.
Prioritizing mental and physical wellness, especially in high-stress professions.
Discussing physical challenges faced by dentists and strategies for alleviating discomfort.
Stressing the importance of addressing health issues proactively.
Insight into the long-term benefits of investing in health and finances early on.
Recognizing the value of flexibility and holistic well-being.
Importance of goal-oriented profitability and cash flow management.
Empowering dental professionals to understand and analyze financial numbers for business success.
Advocating for diversifying cash flow and building autonomous business systems.
Discussing key factors in evaluating investments, including yield and downside protection.
Recognizing the fear factor in pursuing professional growth.
Advising against simplistic approaches and acknowledging the power of positive outcomes.
Emphasizing the significance of branding and patient-centric experience.
Discussing marketing strategies and patient engagement techniques.
Detailing the impact of personalized patient interactions and internal marketing.
Encouraging online presence and strategic planning for practice success.
Exploring the challenges of dental advertising and its financial implications.
Advocating for building a strong foundation before investing in marketing.
Recap of key discussion points and appreciation for guest participation.
Bulletproof Dental Practice Podcast Episode 310
Guests: Randy Smith
● Energy and Impact of Events: The episode begins by emphasizing the significance of energy in driving the world and events. The hosts share their experience at a dental conference organized by Randy, highlighting the unexpectedly engaging atmosphere and the effectiveness of Randy's event management skills.
● Randy's Insights for Financial Independence: Randy imparts his top 20 tips for achieving financial independence, reflecting his lifelong dedication to learning. These insights garnered substantial interest and led to valuable feedback from attendees.
● Building Networks in Independent Business: The podcast underscores the challenge of operating as independent business professionals and stresses the importance of collaboration and networking within the industry.
● Mastermind Group Power: The hosts discuss the transformative power of mastermind groups, where collective thinking and shared expertise drive business success. The episode emphasizes the value of vulnerability and learning from others.
● Patient-Centric Approach: The conversation touches on the significance of patient engagement and how joining a mastermind group can enhance business strategies, as illustrated by personal anecdotes from the hosts.
● Navigating Success and Challenges: The hosts delve into the dynamics of success, cautioning against complacency during favorable market conditions and highlighting the advanced skills required to sustain growth in more challenging times.
● Unveiling Dental Business Insights: The episode explores the concept of uncovering unknown aspects of dental business, including leveraging personality testing for team optimization and drawing unconventional business education from non-dental sources.
● Effective Communication and Collaboration: The hosts share their experiences and insights into effective communication and collaboration, highlighting their ability to problem-solve and innovate within their respective fields.
● Balance of Rationality and Emotion: A contrast is drawn between the hosts' approaches to decision-making, with one emphasizing rationality and the other valuing emotional connection. The process of business valuation is discussed within this context.
● Mastermind Evolution and Alpha Dynamics: The origins of the mastermind group are detailed, along with the evolution from its initial stages to mastery. The importance of diverse perspectives and engaging with leaders in various domains is emphasized.
● Entrepreneurial Definitions and Success: The hosts debate the concept of entrepreneurship and its implications, referencing the experiences of successful figures like Elon Musk and Steve Jobs. The episode also touches on the success of female dentists and business leaders.
● Listener Interaction and Humor: The hosts engage with a listener's question and share light-hearted moments on stage. Personal anecdotes and connections between the hosts are explored, revealing past collaborations and interactions.
● Tax Planning and Financial Strategy: The importance of strategic tax planning is underscored, with a focus on how minimizing adjusted gross income can reinvest capital into business growth. The hosts stress the year-round nature of tax planning and its impact on decision-making.
● Health Industry and Patient Experience: The unique position of doctors in the healthcare industry is discussed, particularly their ability to enter the field with significant financial investment. The hosts highlight their attention to improving the patient experience within their practices.
● Online Resources and Contact Information: The episode concludes by mentioning specific online platforms and websites, including the Bulletproof Mastermind website and its resources.
"When you're a business owner and you have no idea what your numbers are, you cannot actually say you're in control of your business" -Dr. Craig Spodak
"Tax is something that people think is not negotiable" -Randy
Bulletproof Dental Practice Podcast Episode 309
Hosts: Dr. Peter Boulden
Guests: Chris Ronzio
• Profile of your Business – Mission, Vision, and Background
• People – Roles and Responsibilities
• Policies – Rules of the workplace
• Processes to deliver the product – The step-by-step place on how you do and what you do.
Bulletproof Dental Practice Podcast Episode 308
Bulletproof Dental Practice Podcast Episode 307
Hosts: Dr. Craig Spodak
Guest: Dr. Kyle Stanley
· Dr. Kyle Stanley’s journey from start-up to redbook and his introduction to the show.
· The significance of trust in patient-dentist relationships and the power of effective case presentations.
· The challenges of full-time dentistry
· The importance of finding purpose outside of the dental profession
· Dentistry as an ingrained identity, not suitable for everyone
· The importance of setting true expectations for mental wellness in dentistry
· The concept of the ‘triangle of blame” in dentistry and the need for mental resilience in dental schools
· Dr. Kyle Stanley’s personal growth and mental health experiences
· The power of emotional response and vulnerability in helping others
· Ways to get involved with Lightside Dentistry and the Bulletproof Summit, including bringing your team to the summit
Bulletproof Summit – PROMO CODE: STANLEYSUMMIT23
I think one of the big problems that we have as dentists is that our purpose in life is to be the best dentist in the world. Our purpose in life is to be a dentist. That is our problem. And that’s why so many of us suffer. Because when you align your purpose in life with something that is bound to fail there’s going to be an open contact or open margin, that your entire self-worth drops with that.- Dr. Kyle Stanley
Bulletproof Dental Practice Podcast Episode 306
Pete’s biggest business failures & how he got started
Reviewing and actual LOI
DPO vs DDO, partnership
How to get to enterprise value
Common equity, rollover quality, and preferred equity
Top-line revenue is the most important component
Private equity vs public equity
Capital gains as a side hustle
Ultimate KPI for financial freedom
Evaluating multiple buy-ins
Problem with non-competes
Real estate and lease renegotiations
Understanding tax implications of cash flow vs capital gains
Retail business coasting or dying?
Money as an existential problem
Transition between first half and second half of life
Pitfalls of affiliate marketing
Importance of purpose
Bulletproof Summit in Las Vegas August 11-12
Mighty Networks: Bulletproof Dental Practice
Bites of apples only happen when said private equity group that bought you sells to another private equity group, a different horse. - Dr. Peter Boulden
Guest: Dr. Craig Spodak
Dentistry is whatever you want it to be
Never forget the “why” behind your dentistry
Ignore the FOMO you feel about selling your practice
Identify exactly what you want in your life and your practice
Don't make long-term decisions based on temporary emotions
So, dentistry is really beautiful. You get to be paid to help people. Never forget the privilege it is to be able to serve other people. And when you make it about yourself and you start over obsessing about yourself, you lose fulfillment and purpose. So, if you're in a burnout stage, focus on everything around you. If you feel less appreciated, give appreciation. Whatever you want more of in life, give it away first. – Dr. Craig Spodak
Bulletproof Dental Practice Podcast Episode 304
Guest: Dr. Trey Tippit
Half-Year Audit (July):
Introduction to Fednow
4th of July message from Peter
The father-son relationship, or father-daughter relationship, the mentor that you have, and a parent of any sort is nothing more than a relationship. But if you don’t have it you also have friends that you can choose, you can create. Surround yourself with people that are going to give you those relationships and then foster those relationships. - Dr. Trey Tippit
Bulletproof Dental Practice Podcast Episode 303
● Strategies to become a person of value and develop resilience
● Recognition of the top three hygienists in the country
● Learning easy tricks for dental hygienists to improve efficiency
● Resumption of student loan payments starting in September
● Dentistry's current focus on the psychological aspect of patient care
● Addressing the hygiene crisis within the dental industry
● Shift in favor of employees in the job market
● High-risk status of 7.8 million federal borrowers potentially missing loan payments
● Search results for dental hygienists
● Engagement in a vaccine debate on Twitter involving Dr. Rogan
● Cultural aspects surrounding the vaccine debate
● Raising awareness about mental health issues in society
● Importance of fostering intellectual debate and the recent decline in trust
● Recognizing the significance of understanding the middle-core perspective
● Challenging the difficulty of changing someone's beliefs
● Acknowledging Rob Dyrdek as a successful and savvy entrepreneur
● Insights shared in "The First Million" podcast
● Emphasizing the value of time management and balance
● Life optimization principles discussed by Rob Dyrdek
● Reflections on Father's Day and the importance of having visions and goals
● Exploring the entrepreneurial dimension within dentistry
● Examining societal narratives around work and finding meaning
● Strategies for increasing personal value and worth
● Reevaluation of the perception of work as cruel
● Recognizing the positive aspects of work and its role in personal fulfillment
● Addressing burnout prevention in the dental profession
● Hiring an implementer for effective practice management
● Strategies for implementing new ideas and initiatives
● Delegation as a crucial aspect of successful business operations
● Cultivating fulfillment and purpose at work
● Importance of regular and productive meetings
● Establishing accountability and fostering a responsible team
● Understanding the impact of lateral pressure in organizational dynamics
● Weekly leadership team meetings to drive progress
● Significance of goal-setting and tracking progress
● Key considerations when building the annual plan
● Embracing the evolution of the company and decision-making processes
● Creating a more resilient business by reducing personal involvement
● Applying leadership principles from "The Five Levels of Leadership" by Maxwell
● Developing successors for high-value tasks and responsibilities
● Setting a clear vision and guiding the team towards success
● Dual aspects of leadership: personal growth and empowering others
● Overcoming challenges through taking calculated risks
● Expanding the application of AI in the dental field
● Exploring joint ventures in dentistry in Texas
● Streamlining email management through the use of plugins in Gmail
● Enhancing efficiency by leveraging plugins for email copying and pasting
● Optimizing processes for improved speed and quality
● Auto-reply systems for efficient email and text communication
● Implementing process streamlining techniques
● Applying the Six Sigma approach to dentistry for enhanced quality
● Utilizing dental technology to support the Six Sigma methodology
● Delegating tasks to team members for improved productivity
● Introducing a new automation system for cost-effective ordering and inventory management
● Announcement of the upcoming mastermind or class, "Bulletproof GPT”
Be a person of value, I think there’s an over-obsession with an intrinsic ‘look at yourself, like ‘How can I be fulfilled?’, ‘How can I be happy?’. And when you look inside for fulfillment or happiness, you’re going to ruin the possibility of achieving it. So, it is how you become more valuable like you get what you want in life by helping other people get what they want. – Dr. Craig Spodak
Bulletproof Dental Practice Podcast Episode 302
Guest: Amol Nirgudkar
Teaching AI how to understand dentistry
The problem is not marketing, it’s scheduling
How DSOs compare to private dentists
The problem with metrics
Authenticity is what we’re selling
Selling, if you’re moving the patients to better health by all means you can call me a salesperson because I’m changing somebody’s life. That’s okay! Sometimes the word sales are almost prohibited in healthcare. But we’re not selling, we really are moving the patients forward and their journey to betterhealth.-Amol Nirgudkar
Bulletproof Dental Practice Podcast Episode 301
Developing a Dental Practice
Key Considerations for Establishing a Dental Practice
Establishing an In-House Dental Lab
Investing in a Cutting-edge Dental Lab
Recruitment of Skilled Ceramists and Designers for Dental Labs
Effective Marketing Strategy
Addressing Challenges with Automated Review Processes
Optimizing Vertical Integration to Enhance Efficiency
Renowned Speakers at the Bulletproof Summit 2023
There are a lot of ways to grow, and it is not always bigger, better, faster. It’s not always revenue and it is not always profit, there are more other ways to grow. – Dr. Trey Tippit