“Boldness is a superpower. And if you're not using it, you're shrinking your dreams,” shares Fred Joyal, CEO of TruBlu Social Smile and author of Superbold: From Under-Confident to Charismatic in 90 Days. Fred also co-founded 1-800-Dentist, the most successful dentist referral service in the country. Today, he joins host Jon Harris to talk about superbold leadership and the value of not letting fear or doubt hold you back.

Dentistry is a very profitable business; so much so, that you can make money even if you aren’t doing everything correctly. With profitability so high, it is a relatively safe business for investing in growth and technology. If you are not upgrading your practice with the latest technology because you are worried about the expense, you are reducing your growth potential. Most of this technology will pay for itself after just a few appointments. Learning to be bold in your decisions will help you to be a better leader. Even if you do not feel confident, do it anyway and see what happens because this will help you to be bolder going forward.

Boldness is a muscle. The more you put yourself out there, the easier it will be to actually feel confident. When you commit to decisions even though you do not feel confident, you will slowly build up that boldness muscle. These actions will lead you to actually feel confident over time and that will reflect in your leadership skills and the overall success of your practice.

Quotes

• “One of the worst things that can happen to you in business is you're extremely well funded, because you end up throwing money at problems instead of creativity.” (8:05-8:16 | Fred)

• “Bold action is what actually creates confidence. So you may not feel confident, but you go anyway.” (38:13-38:22 | Fred)

• “Boldness is a superpower. And if you're not using it, you're shrinking your dreams.” (39:36-39:43 | Fred)

• “You will be much more successful acting your way to a better way of thinking, rather than thinking your way to a better way of acting.” (54:56-55:05 | Fred)

Links

Connect with Fred Joyal:

Facebook: facebook.com/fredjoyal

Instagram: instagram.com/fredjoyal

LinkedIn: linkedin.com/in/fredjoyal

Connect with Jon Harris on Facebook:

https://www.fortunemgmt.com

https://www.facebook.com/jon.harris.39545

https://www.facebook.com/fortunemgmtmidsouth

https://www.facebook.com/fortunemgmtgeorgia

Follow Jon on Instagram:

@jonharris_

@21stcenturydentistry

Podcast production and show notes provided by HiveCast.fm

“Finding outside the box solutions like this is a great way to keep things bite sized, grow organically, and yet foster the room for growth and flexibility that you're looking for,” explains Justin Poynter. Justin is the Vice President of Strategic Partnerships at Arthur Marshall, Inc, a national recruiting firm that supports dentists across the country. Today, he joins host Jon Harris to talk about associate recruiting and retention.

Dental practices all over are currently struggling with recruitment and retention for a multitude of reasons such as the increasing cost of dental education, the impact of the coronavirus, and Baby Boomers retiring. Practice owners have 3 main options when it comes to recruiting. They can hire someone they know through a referral, choose from active online job seekers, or cast a wider net which tends to require making the job opportunity more attractive. Sometimes it may be necessary to start targeting non-active job seekers who may be unhappy with their current position through an online ad. Putting this money into advertising is typically a worthwhile investment as it can yield a new employee who has a greater ability to produce a return on that investment within their first year.

There is a shortage of quality dental candidates in the talent pool right now, so it is important to think outside the box when it comes to recruitment and retention. You may have to call around to other practices for referrals, offer attractive bonuses and higher salary rates to remain competitive, invest in advertising, or even look out of state for new employees. Putting in the effort up front to find the right fit is extremely important as it will save you money in the long run and result in less turnover.

Quotes

• “Set a 45 day clock. Within those 45 days, reach out to your network. Reach out to other practice owners, other vendors, and see what you can gain in terms of referral.” (15:14-15:26 | Justin)

• “When a candidate is looking on a job board and there's a search results page of a hundred listings in front of them, they all start to kind of bleed together.” (18:31-18:39 | Justin)

• “As long as you find somebody that's got career ambitions that match up with your long term expectations of the roles, and have some sort of track record of sticktoitiveness, those are big priorities that I try and tell practice owners probably should be close to the top of their list.” (20:22-20:43 | Justin)

• “There is an endemic level of misunderstanding on the part of practice owners on just what is involved in retirement.” (23:27-23:36 | Justin)

• “Simply sitting around conducting business as usual every day is not going to get practice owners to where they want to go.” (37:35-37:43 | Justin)

Links

Connect with Justin Poynter:

https://arthurmarshall.com

https://www.linkedin.com/in/justin-poynter/

https://www.facebook.com/ArthurMarshallInc

https://www.instagram.com/arthurmarshallinc/

Connect with Jon Harris on Facebook:

https://www.fortunemgmt.com

https://www.facebook.com/jon.harris.39545

https://www.facebook.com/fortunemgmtmidsouth

https://www.facebook.com/fortunemgmtgeorgia

Follow Jon on Instagram:

@jonharris_

@21stcenturydentistry

Podcast production and show notes provided by HiveCast.fm

“It doesn't do any good to negotiate the highest fee schedule in the world if they can't put patients in your chairs,” explains Patrick O’Rourke, Founding Partner of Practice Quotient. When it comes to dentistry, parsing through dental insurance, adjustments, and reimbursements can be challenging. With his specialization in network analysis, negotiation, and strategic guidance, Patrick joins host Jon today to discuss making PPOs profitable.

Generally, PPOs are outsourced marketing costs, which are not free even if you’re not writing the check. And currently, 85% of the market are people with PPOs, so they can go out of network, which may lead them to your office. It’s great to get new clients, but if you’re in a contract with only 45 cents on the dollar, you could run out of the cash flow that keeps your business running. Patrick encourages practices to fully understand that relationship to ensure they don’t become victims of their own success. With many strategies to keep in mind, Patrick understands how to secure the balance you need for your business to flourish.

Every dental office needs to understand their reimbursements, how much discounting they need to do, and how to not lose money. You may think the secret to success is getting as many clients as possible, but you also want to treat people without losing out financially. Getting together the right strategy will help expand your practice and remind you that the insurance industry and provider community are symbiotic business relationships.

Quotes

• “The insurance industry and the provider community have a symbiotic relationship, and it should be viewed as business partners.” (16:51-17:00 | Patrick)

• “It doesn't do any good to negotiate the highest fee schedule in the world if they can't put patients in your chairs.” (23:58-24:05 | Patrick)

• “My advice out there to everybody in listener land is to choose your business partners wisely.” (29:49-29:56 | Patrick)

• “If you're on a crappy contract, and it's paying you 45 cents on the dollar, and you're losing money, that's bad.” (50:48-50:56 | Patrick)

• “I feel like if you're not being treated fairly by a business partner, you need to take some action, but you need to articulate that to them.” (1:07:53-1:08:00 | Patrick)

Links

Connect with Patrick O’Rourke:

Website: www.practicequotient.com

Connect with Jon Harris on Facebook:

https://www.fortunemgmt.com

https://www.facebook.com/jon.harris.39545

https://www.facebook.com/fortunemgmtmidsouth

https://www.facebook.com/fortunemgmtgeorgia

Follow Jon on Instagram:

@jonharris_

@21stcenturydentistry

Podcast production and show notes provided by HiveCast.fm