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Inspiring Lessons in Dental Practice Success

Business Strategies For Success In Dentistry

Episode #77
Thriving Your Way to Financial Freedom in Your Dental Practice with Gary Takacs

Key Points at a Glance

  • Gary Takacs, Founder of the Thriving Practice Academy, in conversation with Naren Arulrajah
  • Has beennick named the ‘PodFather’
  • Started in the dental profession in 1980
  • Started the Thriving Practice Academy in 1989
  • Hosts the Thriving Dentist Podcast Show
  • Not a practicing dentist, but owns a dental practice – Life Smiles
  • Encourages work / life balance for more family time
  • Uses the term ‘thriving’ because dentists can change people’s lives and it means dentists and others can achieve personal, professional and financial satisfaction
  • 6 goals for a Thriving practice:1- Overhead no higher than 60 %, ideally 50 %, 2-The ability to create financial independence for yourself thru the practice, 3-All technology that makes dentistry fun, and still control your overhead no higher than 60 %, ideally 50%, 4-High performance team that you truly love and enjoy working with, 5-Patients you enjoy taking care of,6- a treatment mix that gives you satisfaction
  • Unplanned expenses
  • Abundance vs scarcity mindset
  • Moving towards a thriving practice; 1- digital photos for patient education, 2-morning huddle, review patient headshot to remember who you are taking care of that day, 3- work on getting Google reviews (you must have a gmail to write a review, look to see which of you patients has a gmail), 4- KPI: key performance indicators to monitor the performance of your practice

6 Goals for a Thriving Practice

Website: www.takacslearningcenter.com
Email: gary@takacslearningcenter.com
Episode #75
Starting your Dental Practice from scratch with Dr. Evelyn Samuel

Key Points at a Glance

  • Dr. Evelyn Samuel, Entrepreneur and Dentist, in conversation with Naren Arulrajah
  • Wanted to become a dentist at 5 yrs old
  • Picked up pearls of wisdom from each practice while contracting
  • Learned and developed own vision as an Associate before opening practice
  • Opened practice 5 yrs after dental school in 2004
  • Started new practice in 2016
  • Starting a practice from scratch
  • Tips and hints in negotiating
  • Marketing and putting yourself out there
  • Good customer service = lifelong patients
  • The main focus in the early years of a practice
  • Bringing in life balance at the mid-mark

How to start a Dental Practice :

There are two options VIP and Self Study. Here is what’s involved:

  • All training is available on line NOW!
  • 100 % Online
  • 13 Training Videos
  • Bonus Cheat Sheets and Checklists
  • Access to Future Course Upgrades
  • Members Only Private Facebook Mastermind Group to confer with other dentists who are going through the startup process *VIP Only*
  • One Live Strategic Coaching Call- 30 minutes- via Zoom/Skype *VIP Only*

Here’s what attendees will create:

  • A Plan of Action to Move Toward THEIR GOALS
  • A Place of Business That Suits Their Liking
  • An Establishment that abides by Their Terms
  • An Asset for Their Future
  • Control Over Their Business
  • Freedom

Telephone Bootcamp : Telephone Bootcamp is everything offices need to know about first impressions for their offices. This Live workshop focuses on the message your office is conveying to its customers.

Attendees will discover effective communication skills that increase your bottom line:

  • why no one should ever answer your phone until they’ve completed “Telephone Bootcamp”
  • the real reason patients aren’t scheduling
  • how to get everyone on the same page with a consistent message
  • how to get patients to show up for their appointment
  • what to say, and more importantly what not to say to your guests seeking your practice

Website:www.efficiencyinstitute.com and www.drevelynteaguesamuel.com
Call:314-669-5958
Episode #73
Darren Kaberna
Getting to KNOW Your Business with Darren Kaberna

Key Points at a Glance

  • Darren Kaberna, Accelerate My Practice, in conversation with Naren Arulrajah
  • Grew up on a pig farm, so learned to work hard at an early age
  • Started in dentistry in 1997
  • Make subtle changes in the office that will have a massive effect over time
  • Self discovery and checking the facts
  • Motivation within the staff
  • Have a solution for each possible issue
  • Having a trusted right hand
  • Get to KNOW your business

Visit: www.acceleratemypractice.com or www.acceleratemypractice.com/offer/
Email: info@acceleratemypractice.com
Episode #72
Reducing Appointment Times For a More Profitable Practice with Kathy Kirkby

Key Points at a Glance

  • Kathy Kirkby, Founder of The Best Practice Coaching, in conversation with Naren Arulrajah
  • Started out in dentistry as a dental assistant
  • Has been a consultant for 35 years
  • Start with appointments and scheduling
  • Reduce available appointment times
  • Staffing: Motivation and absenteeism
  • Roles and what staff members excel at
  • The patient experience
  • Retirement and increasing value of the practice
  • Re-care and looking at patients who have not been back in years
  • Overhead and expenses

Visit: www.thebestpracticecoaching.com
Call: 902-489-5514
Email: kathy@thebestpracticecoaching.com
Episode #63
Using Your Daily Schedule To Grow Your Practice | Heidi Mount

Key Points at a Glance

  • Heidi Mount, Virtual Consultative Coach, in conversation with Naren Arulrajah
  • Worked in Oregon and California (at the same time) as a dental assistant and office manager, while consulting other dental offices
  • Success Stories
  • Taking a better look at schedules
  • Start with the money
  • Changing mindset issues
  • Your mouth tells a lot about what’s going on inside your body
  • You need to explain the benefits of what the patient is going to get, instead of focusing on the cost
  • Hiring the right team members
  • Build your practice around your life, not the other way around
  • Consistency is key to keep moving forward
Email: heidi@coachingdentist.com Website: www.coachheidimount.com or www.coachingdentist.com
Episode #56
Managing your Dental Practice’s Metrics with ease | Kevin Rossen

Key Points at a Glance

  • Kevin Rossen, Founder of Divergent Dental, in conversation with Naren Arulrajah
  • Started in dentistry by managing father’s dental practice
  • Top 3 metrics you should be looking at on a daily basis: Case acceptance, Re-appointment rate, New Patients
  • On a monthly basis, pay attention to your attritions (those who haven’t been back to see you in the past 18 months)
  • Top 3 numbers you should look at on a monthly basis: Attrition, Net production, Treatment plan dollars
  • Diagnose and treat your patients for what they really need
  • When you look at data, and you ask the right questions and get the right answers, you can make informed decisions that will impact your practice and your patients’ lives
  • Top 3 things learned from running a dental office: you should treat people like people, keep things simple, have fun and keep things light
  • The concept for Divergent Dental is standing out from the normal

Visit: www.divergentdental.com
Email: info@divergentdental.com
Call: 888-755-5728
Episode #52
Using Demographics to Find The Perfect Dental Practice Location with Kent Miller

Key Points at a Glance

  • Kent Miller, Founder of Dentagraphics, in conversation with Naren Arulrajah
  • Has a background in Economic Development
  • Has been in the dental industry for four years
  • Started in dental industry through a friend who encouraged him
  • Helps ensure that the investment the dentist makes is done wisely
  • We look at population, age group and income to help determine a match for a specific practice strategy
  • Common questions dentists ask
  • Helps approximately 50 practices a month open
  • Many practices relocate due to needing bigger space
  • Start up’s will look to locate a real estate agent, financing, equipment & marketing
  • Services available through Dentagraphics
  • There is a lot of opportunity for location out there, where there isn’t a ton of competition

Email: kent@dentragraphics.com or info@dentagraphics.com
Visit: dentagraphics.com
Episode #49
Know and Stay on Top of Your Practice’s Finances with Doug Fettig

Key Points at a Glance

  • Doug Fettig, Aldrich CPA & Advisors, in conversation with Naren Arulrajah
  • Services 250 Dental clients around the country
  • We understand how a Dental practices’ colleagues and peers operate
  • Using cost segregation analysis to benefit a practice
  • Leveraging depreciation benefits
  • Don’t let your CPA depreciate everything in the first year
  • Fraud and embezzlement in the dental practice
  • Bank statements should go to your home, not your practice
  • Recommend using ‘Zero’ over ‘QuickBooks’ for daily managing
  • Benchmarks on production
  • Wealth management
  • Purchasing a currently run practice
  • Fee analysis

Email: dfettig@aldrichadvisors.com
Visit: aldrichadvisors.com
Call: 503-716-9316
Episode #48
Educating Dentists on Real Estate and Leasing with Norman Gelfand

Key Points at a Glance

  • Norman Gelfand, founder of Gelfand Group, in conversation with Naren Arulrajah
  • Real estate broker for 30 years
  • The past 16 years has focused solely on helping dentists
  • The biggest mistake most dentists make is focusing on economics rather than the liabilities and pitfalls they are signing up for
  • The 3 elements of Economics: lease rate, tenant improvements allowance and free rent involved with transaction
  • Business focus of the lease
  • Fighting the relocation clause
  • Right to bond around the Lean
  • Protect against Latent defects
  • Understanding the landlords needs and the dentists needs
  • Business terms of a lease
  • There are always nuances in leases that you have to be aware of
  • Options for renewal
  • Collaborative negotiations
  • Be a gentleman, know your business, know what you need, know how to get what you need and understand the landlord is a business man also
  • Be honest, loyal and diligent. Make sure everything is the best it can be for your customer
  • Happy tenants make happy landlords and happy landlords make happy tenants
  • Demographics involved

Email: norman@gelfandgroup.com
Visit: gelfandgroup.com
Call: 512-833-5300