Inspiring Lessons in Dental Practice Success

Business Strategies For Success In Dentistry

Episode #43

Tax Savings for Entrepreneurs | Craig Cody

Craig Cody, Founder of Craig Cody & Company, in conversation with Naren Arulrajah
CPA, Certified Tax Coach, Author, Business Owner, and former New York City Police Officer for 17 years
Most business owners don’t know what a tax plan is
Many dentists are looking for help or guidance
Using real estate as an advantage in your taxes
Depreciating equipment and other assets in your tax & accounting
It’s important to communicate with your accountant and vice versa
‘Good Will’ needs to be advertised or depreciated
Using your vehicle and a home office opens up options for tax deductions
Continuing Education, marketing, coaches, etc are all deductible
Cash flow in your business
Complimentary consultation available

Visit: www.craigcodyandcompany.com/growingdentist/
Call Profitable Dentist: 516-869-4051

Episode #41

Getting Equity off The Table and Back Into Your Dental Practice | Diana Thompson

Diana Thompson, Founder of Dental Performance Institute, in conversation with Naren Arulrajah
Started working in a dental practice after high school
In the dental field for 32 years
In a dental practice, it’s all about performance
You can never stop learning
What is ‘Operational Equity’
Analyzing the operational module of a practice
Evaluating patient experience and improving it
Having the right person with the right mindset in the right position
The follow up program needs to be structured to where things are done in a timely manner
The dentist should work with the treatment coordinator to get the patients back to overall health
Money left ‘on the table’
The ‘metrics plan’ to stay on track

Email: Diana@DentalPerformanceInstitute.com
Visit: www.dentalperformanceinstitute.com
Call Profitable Dentist: (630) 549-3224

Episode #40

The business side of a today's dental practice | Steve Parker

Steve Parker, Editor & Chief of The Profitable Dentist Magazine and President & CEO of Excellence in Dentistry, in conversation with Naren Arulrajah
Got involved in dentistry about 15 years ago
Started consulting on the business side of dentistry
The Profitable Dentist (started out as an idea, into a newsletter, then into a magazine)
Excellence in Dentistry (Seminars, Workshops, Forums)
Topics that people want to learn about
The way things are done today, is very different to the way things were done a generation ago
LTV- Life time value of a customer
Older generation vs younger generation dentists
Younger doctors understand dentistry is a business
Knowing the inputs and outputs of a business

Email: steve@dentivadental.com, steve@theprofitabledentist.com
Visit: LinkedIn, Facebook
Call Profitable Dentist: 812-949-9043

Episode #38

Take Profit First | Mike Michalowicz

Mike Michalowicz, Entrepreneur and Author, in conversation with Naren Arulrajah
Writes books for small businesses
Latest book is Profit First
Learning from mistakes
83% of businesses run paycheck to paycheck
Sales – profit= expenses
Parkinson’s Law. Greater supply, greater consumption
Once you possess something, you make more of an effort to retain it
Have a separate bank account that you put a percentage in and use itonly for one purpose
Don’t let your business be led by your expenses, let profit drive your business
Start slowly, don’t try to do it all at once

Episode #35

Implementing a Business Model | Amy Deschamps

Amy Deschamps, founder of D4Metrics, in conversation with Naren Arulrajah
In dentistry field for 25 years
Started in dentistry due to sister being a dentist, was studying law at the time
Business Model 4 quadrants: The facility, the team, the patient base and the schedule
The buyers point of view/end in mind
Patient base
Data & using a dental software
Phase treatment plans
Build on relationships
Insurance driven world

Visit: www.d4metrics.com, Email: amy@d4metrics.com, Call: 602-690-6031

Episode #28

Expanding the business growth formula | Alex Nottingham, JD, MBA

Alex Nottingham, JD, MBA, Founder of All Star Dental Academy, in conversation with Naren Arulrajah
Alex is an attorney, international speaker & a best-selling author
Father is a dentist, encouraged him to NOT become a dentist
You have to have a form of lead generation
The Business Growth Formula
Improve each area of the Business Growth formula by 5%, you’ve improved your practice by 40%
Don’t get distracted by all the ‘new things’ in dentistry
You have to commit to patient service & experience
Corporate dentistry
Be a ‘boring’ practice
Don’t be afraid to change
Avoid the Get ‘em in philosophy
The transition statement
Build a great business, a great brand
Stepping out of your comfort zone
Keep following your vision

Episode #24

Have a strategic plan with a primary focus to grow your practice | Mr. John Cotton

John Cotton, Dental Team Performance in conversation with Naren Arulrajah
Worked with banks and financial advisors to grow their business
Started in the dentistry field by helping a friend/neighbor who is a dentist
You must have a well thought out strategic plan and a focus to grow your practice
Changing the behavior of patients to want the dentistry that was diagnosed
Team members need to have a performance mindset
It’s your job as a dentist to create the ‘want’
Patients want 3 things: value, appreciation, reasonable pricing
Figure out what the 3 key production drivers are
With a strategic plan, it creates accountability for the dentist and the team
Engage the team
Building the protocol

Visit: www.whydtp.com or Email: john@whydtp.com

Episode #12

Getting your dental practice where you want it to be financially & ethically | Mr. Kerry Straine

Visit: www.Straine.com Email: Stephanie@straine.com to schedule a time to chat with Mr. Kerry Straine

Episode #6

Maximizing Capacity by fixing your Practice within | Dr. Christopher Phelps

Dr. Christopher Phelps of Carolinas Dental Center in conversation with Naren Arulrajah
Entrepreneur turned dentist: Has own dental practices, teaches other dentists
Strategic Coach – taught to solve problems, turned 60 patients into 300
Maximize capacity and grow within. Went from 4 offices to 1 by building up and selling
Converting – Why calls were not converting (The big 3) Capacity / Insurance Questions / Price Shopper
Mindset of the patient
Dr. Phelps Call Tracking Service – calltrackerroi.com and Dr. Phelps Course – guidethemtoyes.com
Reciprocity: Gifting, Likes, How to’s
Principals – getting the patient to commit and follow through on the appointment
More on reciprocity, how much is your patient worth to you? 1) receiving a ‘thank you’ 2) what can you give as a reward 3) bringing in referrals
Liking. Liking those who like us, finding a commonality with those we pre-judge.

Visit: Dr. Phelps Call Tracking Service and Dr. Phelps Course or call: (704) 845-1107