Bulletproof Dental Practice Podcast Episode 308
Hosts: Dr. Peter Boulden & Dr. Craig Spodak
Guests: Dr. Trey Tippit & Dr. Dwight Peccora
Key Takeaways:
- Business owners and leaders should set a clear vision for their teams to follow
- Investing in team development should not be feared, as it leads to better outcomes
- Differentiation strategies for dental practices - using Google Analytics, Google Tag Manager, and Google Search Console
- Understanding analytics and data migration is crucial for business success
- Personal runway and transparency in business negotiations
- The power of the multiple model
- EBITDA and its importance in dentistry
- Private equity's focus on cash flow and value impact
- Due diligence is crucial when buying a dental practice, focusing on patient numbers, tax returns, and economies of scale
- The significance of cash flow statements for tracking expenses and trends
- Leverage is a key factor in generating wealth, and financing depreciating assets should be considered carefully
- Reflecting on past financial mistakes is advised for better financial decisions
- Leverage can extend beyond debt and involves various types of balance sheets and financial analysis
- Arbitrage = the difference in prices for practices in different environment
References:
Bulletproof Mastermind
Bulletproof Summit –
Mighty Networks: Bulletproof Dental Practice