Shared Practices | Your Dental Roadmap to Practice Ownership
Summary: A bootcamp in small business ownership and practice management for dentists, giving the new graduate a roadmap to successful practice ownership. We interview the best dentists, experts, consultants and more on our weekly show. Here's the topics we will be covering in our 8 Seasons: 1. First Years as a Dentist 2. Think Like a Business Owner 3. Money and Numbers 4. Startups, Acquisitions, and Partnerships 5. Internal Systems 6. Marketing & Growth 7. Leadership, Vision and Culture 8. Beyond Dentistry Go to SharedPractices.com to download the 8 Season Roadmap.
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Podcasts:
Brand-spankin'-new owner "Tim" has the type of practices coaches DREAM of. Tim's has 15 google reviews, 2500 active patients, and 40 new patients a month with a marketing budget of precisely ZERO. But...he doesn't know where to spend the money to avoid plateau. Let's hear Suzanne coach him through this and more.
Mark Johnson, founder of Student Loans RX and wealth advisor for RBF, joins Payton. Some of us are in $3-, $4-, or $500,000 in debt or more. Don't misunderstand us: debt is a great tool! But as our income and lifestyle increase after graduation, where's the absolute best place to spend our money? Take notes as we focus on the fastest way to build wealth, given various distinct circumstances. www.StudentLoansRX.com txt 314-347-3499
The man behind so much of Richard's branding inspiration, Joshua Scott joins us today. "Sometimes I say 'Dental marketing sucks'", says Josh. Josh helps us draw from the existing innovation, inspiration, and beauty we find in the profession itself--and draw that into our marketing. We notice his artistic nuance for content as we discuss. www.JoshuaScott.com www.S8E8.com
A pod leader with Shared Practices' Mastermind, Matt Ford has long been a rural multi-practice owner in South Dakota. A 2015 graduate--and Richard's classmate--he and George talk about the escalating stair steps that owners should take: from solo practice, to group practice, to multiple practice
Our time with Tapatío continues. As Tyler asks about the fears our guest had when buying a practice he opens up about the ones that did and didn't ever happen. Plus, a legal constraint that could make staff cost skyrocket, and fluke fears.
"I hope we're gonna be friends after this", Suzanne says as we go into how Eddie's numbers and how they can improve. Continuing our interview with this level-headed solo practitioner, we talk about raising the percentage of patients scheduling ahead, 2, and PATIENT RETENTION!
A fan favorite from TPO 30 returns. Tapatío was a pre-owner underwater. After getting George and Tyler's blessing for buying a 2-for-1 practice, he and his wife bought it. Tyler and Payton follow up; but after a few nightmare staff scenarios, is he still underwater?
A collector, of sorts, of dental practices, Mike Reimels understands what it takes to grow. We talk the advantages of seller financing, growing practices when you're not on site, and the limits of standardization at scale. Plus, the power of deleting the word "just" from your vocabulary.
For those aspiring to own a true solo office, today's guest--Eddie--is a breath of fresh air. Nestled in a wealthy bedroom community, he struggles with new patient flow. After three years of owning, does he understand benefits from consistent Google reviews and adding a fourth day to the schedule? We focus on these, and more, as we discuss Eddie's mindset.
Familiar with the amount of students who want to know more, Payton digs into what exactly to expect during a residency. He's joined by our own Matt Guarino. Having finished a residency similar to what many of our listeners might experience, Matt shares the connectivity that influenced his growth, why he would not go into a program without talking to one of its residents, and how to launch into a career when residency is up.
Dr. William Graves and his rockstar staff have grown their TikTok content into the stuff of legend. We look at how he grew Amarillo Oral & Maxillofacial Surgery from humble beginnings in a hostile corporate environment, and how he now leverages an audience of 2.4 million.
Keith did a ground-up startup. Working 5 days a week with only one associate, his clinical schedule keeps him spread thin! The frustrations of clinical demand set in as we explore ways he can put down the hand piece, and focus on building his business.
At this point, despite still being at limited capacity, Payton still feels like he at least "kind of" knows what he's doing. Through the middle of all the tests, he continues his practice search by reaching out to owners with his magazine/mailer.
Scott Smith joins us today. After working in North Carolina for a year and a half, Scott bought his current practice. Spending a few years "trying to do what Richard does", Scott definitely found his own style. Coming out of dental school for less than $200k, buying a practice, and imposter syndrome become today's topics.
Shared Practices' Director of Coaching Suzanne Rassy is joined by our real-doc-fake-name Keith. After graduating (and after his US Air Force commitments) Keith launched a startup outside a major metro area. Growth was way faster than anticipated, but his numbers are now flat. This is much more than a delegation problem. Listen as Suzanne guides Keith through.
