Amid soaring interest rates and rapid inflation, one might ask: Is this a good time to take the first step towards startup practice ownership or an acquisition? Drs. Taher Dhoon and Chris Green of The Practice Launchpad join Dr. Mark Costes in this episode to address this prevailing question in the dental vertical. Together, they identify red flags when evaluating loans, rentals, and dealing with contractors so as not to be taken advantage of. They also stress the need for having a resource like The Practice Launchpad to guide one through practice transitions.
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This episode of The Dentalpreneur Podcast was recorded live from the recently held Dykema DSO Conference in Colorado where Dr. Mark Costes led a panel of experts on workforce retention and evolving into a Blackbelt Practice organization. Joining him were Margaret McGuckin, Co-Founder & Principal of i3 Ignite, Dee Fischer, CEO of Fischer Professional Group, and Charles Moser, DEO Executive Coach. Listen in for their tips on what it takes to be in the highest echelon of Blackbelt Practice and how to score high in leadership, culture and systemization, team accountability and the connection between efficiency and driving revenue.
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Today marks a milestone as The Dentalpreneur Podcast celebrates its 1,500th episode. Dr. Mark Costes looks back since its launch in June 2015 as a pioneering podcast dedicated to dentists and dental professionals. More than 6.8 million downloads with listenership in 150 countries and 1,500 episodes later, he is ever so committed to continue on his mission to help educate his listeners grow and streamline their practices and stimulate personal growth as well as to reach their full potential in business and in life. He heartfully thanks The Dentalpreneur Podcast’s loyal listeners, subject-matter-experts, thought-leader guests, sponsors, and production team for reaching this milestone! Here he shares his personal favorite episode of all time and replays the one with bestselling philosophical author, Ryan Holiday.
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Podcasting on the last clinical day of the Dominican Dental Mission Project in San Jose de Ocoa, Dominican Republic, an audibly tired yet utterly inspired Dr. Mark Costes shares with listeners the travails as well as the rewards from a typical day on their annual dental mission. Different from other dental humanitarian efforts, he talks about how the DDMP is completely mobile, transporting heavy equipment to a different mountain village each day to serve campesinos or country people in remote rural areas, converting schools, churches or whatever other available infrastructure into dental offices.
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Are treatment costs a constant pain point for your patients? Has this impacted case acceptance in your practice? Today, Dr. Mark Costes speaks to Jay Letwat on Sunbit’s Buy-Now-Pay-Later Technology – a disruptive technology that helps patients who traditionally get declined at the financing point of sale. Utilizing a behavioral model that considers multiple data points, even of patients with bad credit, to allow lenders to uniquely underwrite dental procedures worth anywhere from $60 to $20,000 and provide fair financing to people from all walks of life.
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Today’s episode of the Dentalpreneur Podcast was recently recorded from the remote town of San Jose de Ocoa in the south-central mountains of the Dominican Republic, where Dr. Mark Costes took a brief break from performing annual missionary dentistry to chat with his friend and fellow practicing dentist and mission volunteer, Dr. Aaron Nicholas. Listen in on their moving conversation about the Dominican Dental Mission Project and how it has provided a variety of dental services not otherwise available to the rural poor of the Dominican Republic. Defying primitive conditions, they talk about the team of volunteers’ humanitarian efforts amid extremely shocking levels of poverty, and why they consider these dental missions as the best “vacations” ever.
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As your single practice grows into multiple practices, it is imperative as CEO and business owner to have an effective organizational chart and a proper chain of command. Speaking from experience and sharing the lessons he learned from mistakes he made, Dr. Mark Costes teaches how a CEO must have the fewest number of direct reports, why there shouldn’t be redundancies in positions, and when to hire an executive team of C-Suite officers.
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How does one go from crashing into a wall at 220 MPH in a pre-Indy 500 race, being punctured by a suspension rod in his femoral artery and almost bleeding to death, to defying all predictions for recovery only after four months and winning a Grand Prix? In one word…mindset. In this second part of Dr. Mark Costes’ keynote interview with James Hinchcliffe, the six-time Indy Car Winner talks about the grit and discipline it took for him to push the limits and the mindset that spells the difference between being good and being great.
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In this first of two episodes from Dr. Mark Costes’ keynote interview at the Dental Success Summit 2022, we hear of the struggles and obstacles hurdled by six-time Indy Car Winner, James Hinchcliffe. James reveals the ups and downs of Indy Car Racing, the challenges to find sponsorship and funding, as well as the mental and physical demands of the motorsport.
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Dr. Mark Costes gives you the lowdown on how to GSD (Get S--- Done!) by establishing systems that hold every team member accountable for their contribution to attaining WIGs or Wildly Important Goals. More than just measuring Production, Collection and New Patients, he stresses the importance of setting new metrics and a higher level of statistical analysis to make smart decisions about one’s dental business.
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In this episode, Dr. Mark Costes asks the questions he asked at the Mastermind sessions in 2015 which are ever so relevant today: Where are you now? Where do you want to go? How do you get there? Let him guide you through this exercise to envision what you would want your dental practice to look like and reverse engineer the steps toward your goals. He also underscores the time-tested leadership principles of John C. Maxwell essential to a successful dental practice.
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Part 2 of Dr. Mark Costes’ interview with Dentalpreneur Dr. Dave Ferguson showcases the slew of other successful dental-related businesses he founded on top of his 18-practice group dentistry. Today, he shares his concept of “ethical capitalism” and talks more about his passion projects for special need patients with I/DD, his business to help treat sleep apnea as well as providing orthodontic education for General Dentists.
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How do you grow a single practice into an 18-practice group dentistry in 5 states using a business model based on partnerships? In this episode, Dr. Mark Costes asks forensic interview questions into how Dr. Dave Ferguson, a true-blue Dentalpreneur, built and scaled his business, earning for himself Ernst and Young’s Entrepreneur of the Year regional award.
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Who do you want your organization to be? In Part 2 of DSI Blackbelt Coach, Dr. Summer Kassmel’s talk, she asks this question to help define one’s corporate culture. She also zeroes in on the importance of servant leadership, espousing humility in the entire organization, as well as the value of accountability, motivation, trust, courage, and creativity among team members to attain their highest potential.
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Today’s Dentalpreneur Podcast features one of the favorite speakers from the recently held Dental Success Summit 2022. In this first of a two-episode treat, DSI Blackbelt Coach, Dr. Summer Kassmel, knows only too well the challenges of hiring, onboarding, and retaining team members. Find out how she developed a winning work culture, vision, mission, and core values for her team, and how you could do the same for yours.
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In today’s episode, Dr. Mark Costes highlights his answer to hopelessness in the dental profession which has been marred by isolationism, toxicity, and negativity. Listen and learn from the frameworks he shares to effectively become more competent, efficient, and resilient in practice ownership and management, with the support of a collaborative community such as DSI and DSN.
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In this episode of The Dentalpreneur Podcast, Dr. Mark Costes explains the value behind our skillset as dentists. He unpacks why the default rates on dental practice loans are so low, and why banks are so eager to loan to dentists. Furthermore he compares the value of dental practices to other businesses, and demonstrates the value behind the assets we are able to grow with our own two hands.
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Alastair Macdonald joins Dr. Mark Costes in this repeat episode on pre-partnership considerations. This is a highly requested topic, so we thought we should revisit some of the wisdom they dropped in this presentation. Tune in to hear the two mechanisms that drive our actions in partnerships, the keys to understanding roles and expectations, and what makes someone qualified for a partnership.
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Alastair Macdonald joins Dr. Mark Costes in this repeat episode on pre-partnership considerations. This is a highly requested topic, so we thought we should revisit some of the wisdom they dropped in this presentation. Tune in to hear the two mechanisms that drive our actions in partnerships, the keys to understanding roles and expectations, and what makes someone qualified for a partnership.
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Today we have a panel of Blackbelt Coaches discussing the current workforce crisis. Many practice owners have been struggling to attract and retain talent in the dental office. First, if this is you- know you’re not alone. Tune in to the episode today for some rock solid strategies on hiring and retaining top personnel in today's labor market.
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Today we have a panel of Blackbelt Coaches discussing the current workforce crisis. Many practice owners have been struggling to attract and retain talent in the dental office. First, if this is you- know you’re not alone. Tune in to the episode today for some rock solid strategies on hiring and retaining top personnel in today's labor market.
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Listen in as Dr. Mark Costes breaks down the statistics of the dental and medical professions. He gets into the number of graduates, ownership stakes, and take home income. Then he provides some insight into what we might be able to do as a profession to avoid a similar fate.
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