エピソード

  • Ep58: Starting Small: 1% Revenue Transfer to Boost Profit

    Ep58: Starting Small: 1% Revenue Transfer to Boost Profit
    2024/11/13
    Susanne Mariga, a renowned CPA and fractional CFO, is a strong advocate of the Profit First system, which empowers seven to nine-figure entrepreneurs to prioritize profitability from the get-go. Drawing on her extensive experience at prestigious firms such as Arthur Henderson and KPMG, she guides her clients in setting up separate bank accounts for profit, owner's pay, taxes, and operating expenses. This strategic allocation encourages business owners to manage cash flow effectively and make intentional financial decisions, ensuring they are rewarded for their hard work. Through her Profit Talk podcast and collaborative efforts with experts like Stan Kinder, Mariga provides practical advice and strategic tools, urging entrepreneurs to start small by transferring just 1% of revenue into a profit account to build a financially sustainable future. Here’s what to expect this episode: The importance of having specific bank accounts for profit, owner's pay, taxes, and operating expenses The Profit First System enables entrepreneurs to prioritize profits and manage finances intentionally The Profit First concept leverages the illusion of scarcity by using specific bank accounts to drive intentional profitability Dentists face financial challenges such as debt, retirement planning, and the need for prudent financial management Prophet Talk podcast offers real-world advice to help businesses increase profitability based on the Profit First concept Getting started by making a 1% transfer of revenue into your profit account helps build intentional profitability from day one Connect with Susanne Mariga: https://www.linkedin.com/in/susannemariga/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
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    36 分
  • Ep57: The Power of Acquisitions in Dental Practice Growth

    Ep57: The Power of Acquisitions in Dental Practice Growth
    2024/11/06
    Kartik Antani offers insightful perspectives on Dr. Partik Antoni's journey in dentistry, emphasizing the significant influence of familial inspiration and strategic career choices. Acknowledging Dr. Antoni's bold move from New Jersey to New Mexico, Kartik highlights the advantageous decision to acquire existing dental practices in underserved areas, which provided a robust foundation for growth. By leveraging established systems and engaging in partnerships with like-minded individuals, Dr. Antoni effectively navigated the complexities of expanding his practice, demonstrating astute business acumen. Kartik further underscores the importance of cultivating a strong company culture and hiring based on personality and capability, which play crucial roles in maintaining patient care quality and successfully scaling the practice. Here’s what to expect this episode: Acquiring existing practices through acquisitions allowed for immediate cash flow and utilization of existing systems. Strategic approach to each acquisition such as with a retiring dentist, associate-driven practice, and hygienist-owned practice. Transitioning from chairside practice to focusing on managing the business is crucial for scaling up dental practices. Identifying undervalued distressed dental practices can lead to profitability by implementing operational improvements. Establishing a positive culture within dental organizations is important for team alignment and patient experience. Hiring like-minded individuals and setting clear standards for accountability is crucial for the success of dental practices. Human capital is a limiting factor in the success of dental practices, emphasizing the importance of experienced personnel and external help. Connect with Kartik Antani: https://www.linkedin.com/in/kartikantani/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
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    41 分
  • Ep 56: Enhancing Dentist Experience: The Role of DSO's Toda

    Ep 56: Enhancing Dentist Experience: The Role of DSO's Toda
    2024/10/30
    Sulman Ahmed, founder and CEO of Decadental, a DSO with over 200 practices across nine states, embarked on his journey in the dental field as an immigrant in the US, and rapidly progressed from college to dental school in Boston. Ahmed appreciates the growth of Dental Service Organizations (DSOs) as an inevitable and accelerating trend, providing dentists with enhanced work-life balance, increased earnings, and an overall lifestyle improvement. His perspective, shaped by his early interest in practice ownership and an understanding of the challenges new dentists face in the current competitive market, highlights the importance of DSOs in offering financial stability and professional support, especially to those burdened by debt. Ahmed firmly believes in the role of dentist-led DSOs in shaping the future of the dental industry and sees them as an enduring and influential force in the marketplace. Here’s what to expect this episode: Acquisition and Expansion are key strategies for growing a DSO business DSOs balance organic growth through de Novo locations with strategic acquisitions A generational shift in dentistry ownership is occurring. Changing perceptions towards Dental Support Organizations (DSOs) in dentistry. Dentists are essential in leading Dental Service Organizations (DSOs) to improve the quality of dentistry The growth of Dental Service Organizations (DSOs) has significantly impacted the dental practice landscape Connect with Sulman Ahmed: Dr. Sulman Ahmed - Deca Dental Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
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    32 分
  • Ep 55: Beyond the Smile: Dentistry's Evolution in the Era of Innovation

    Ep 55: Beyond the Smile: Dentistry's Evolution in the Era of Innovation
    2024/10/23
    Kentucky Morrow, a seasoned investment professional with a background in healthcare, technology, and industrials, previously served as Vice President of Investment Banking at England & Company, where he advised middle-market companies on mergers, acquisitions, and raising growth capital. He is also the Co-Founder of Ralli, a CPG company focused on alcohol health and wellness, and serves on the board of Milk & Bull, a design agency for CPG companies. Morrow holds advanced degrees from Johns Hopkins and Emory University. In this episode, Morrow discusses the challenges dentists face when considering Dental Support Organizations (DSOs), emphasizing the importance of due diligence, understanding the DSO’s culture, and balancing financial aspects with patient care. The conversation also explores the evolving role of technology in dental practices and the significance of equity rollovers, particularly for dentists nearing retirement. Here’s what to expect this episode: DSO Considerations for dentists contemplating joining a DSO. They emphasize the importance of due diligence, understanding the DSO's culture, and evaluating the impact on patient care. Balancing Financials and Patient Care between financial aspects and the quality of patient care when deciding to partner with a DSO. The speakers stress the need for dentists to ensure that their values align with the DSO's approach. Evolving Landscape of dental practices, driven by factors such as technology, and how these changes impact the way dentists approach their profession and business. Equity Rollovers: considering individual circumstances such as career stage and retirement plans. The value of equity is explored in the context of compounding over time and its relevance to different phases of a dentist's career. DSO Growth Trajectory: highlighting the potential for capturing value through equity ownership as the DSO expands. Connect with Kentucky Morrow https://www.linkedin.com/in/kentuckymorrow/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
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    48 分
  • Ep 54: Harnessing the Potential of Social Media for Dental Brand Awareness

    Ep 54: Harnessing the Potential of Social Media for Dental Brand Awareness
    2024/10/16
    Samantha Watkins is a seasoned marketing professional who transitioned from dermatology to specialize in dental marketing strategies. Watkins' perspective on dental marketing strategies is strategic and personalized, emphasizing the importance of understanding the unique needs and goals of each dental practice. Her approach is rooted in her diverse experiences, which include leading marketing efforts for numerous dental practices and focusing on individualized patient experiences. Watkins believes in starting with the basics, such as having a website and social media presence, before investing in more advanced marketing tactics. She also stresses the importance of managing expectations, being honest with clients about what is achievable, and setting realistic goals and KPIs to measure success over time. Her expertise in content creation, social media, reviews, and website development has contributed to the rapid growth of dental offices under her guidance. Here’s what to expect this episode: Authentic relationships are key in marketing and social media strategies for dental offices. Discover how to build genuine connections with your patients in our latest podcast episode! How can patient referral programs benefit dental practices? Discover the key strategies and benefits in our latest podcast episode! Maintain authentic relationships in commercial interactions. Discover how to build trust and credibility in our latest podcast episode! Why is it important to tailor marketing strategies to different office locations? Discover the key factors and strategies in our latest podcast episode! How crucial is it to monitor and address reviews for dental practices? Discover the impact of online reviews on dental practices in our latest podcast episode! Connect with Samantha Watkins: https://www.linkedin.com/in/samantha-watkins-mba-b20394129/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
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    40 分
  • Ep 53: Dua Good Job Symposium: Insights on Oral Cancer Care

    Ep 53: Dua Good Job Symposium: Insights on Oral Cancer Care
    2024/10/09
    Parul Dua Makkar is a passionate advocate for oral cancer awareness, driven by her personal experiences and professional commitment to enhancing patient care. Having established the "Dua Good Job Symposium" and an educational platform at dua.goodjob.com, she provides comprehensive resources on oral cancer, emphasizing the importance of early detection and holistic patient management. Inspired by the tragic misdiagnosis of her brother, a fellow dentist, Makkar fervently champions for improved screening processes and the integration of empathetic care into dental practices, urging her peers to prioritize patient well-being over financial gains. Her initiatives, including the Wellness Ambassador Program and innovative strategies for patient retention, reflect her dedication to a stigma-free environment and personalized care, further advancing the dental profession's role in oral cancer awareness. Here’s what to expect this episode: Early detection and prevention strategies are crucial for oral cancer. The Wellness Ambassador Program supports dentists in seeking help for mental health challenges. Financial constraints, marketing, and personalized care are key factors in starting a dental practice. Internal referrals are a primary source of growth for dental practices. Engaging patients with an in-office membership plan can increase patient retention and care acceptance. The 'Dua Good Job Symposium' focuses on oral cancer, systemic links, nutrition, and emotional aspects for dental professionals. Connect with Parul Dua Makkar: https://www.linkedin.com/in/dr-parul-dua-makkar-bsc-dds-facd-375324145/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
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    33 分
  • Ep 52: Identifying Choke Points: Key to Business Success

    Ep 52: Identifying Choke Points: Key to Business Success
    2024/10/02
    Eric Pastan is a seasoned professional with over two decades of experience in the dental industry, having started his career by investing in and establishing a dental office in Boston. His perspective on consulting and investment banking services is shaped by his diverse experiences, including his role as the director of management consulting at Skytail, a boutique investment bank and consulting firm, and his successful expansion of his own dental practice to 45 locations across multiple states. Pastan emphasizes the importance of hiring professionals with industry-specific expertise and believes in a customized approach to consulting, introducing clients to multiple options that best fit their organization's goals and needs. He advocates for creating a team of third-party vendors to guide and support clients throughout the growth and scaling process, viewing consulting as a pathway to help entrepreneurial business owners achieve their desired goals and measure performance along the way. Skytail assists dental and aesthetics business owners in growing, scaling, and selling their businesses. Companies like Skytail specialize in helping businesses in specific industries navigate the complexities of growth, scaling, and eventual sale. Their expertise can be invaluable in achieving business success and maximizing valuation. Here’s what to expect this episode: Learn how to identify choke points and implement systems for success Create a culture of accountability and establish job descriptions Focus on building a strong business foundation and consistently analyze Engage legal representation experienced in trans Hire professionals like lawyers and accountants for a smooth process Have a coach, consultant, or mentor outside the practice for a different perspective Connect with Eric Pastan: https://www.linkedin.com/in/eric-pastan/ Connect with Stan Kinder: https://www.everythingdso.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
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    40 分
  • Ep 51: The Power of Team Development in Dental Practice Management

    Ep 51: The Power of Team Development in Dental Practice Management
    2024/09/25
    Cedrick Lewis, an entrepreneurial dentist, has made a name for himself with his successful multi-site group practice in Hawaii. His perspective on group practice expansion is shaped by his experiences, starting from his time at a DSO in Oregon where he gained insights into efficient dental practice management, to his transition to ownership in Hawaii where he focused on high-end dentistry and market domination. Lewis believes in a growth mindset, emphasizing the importance of continuous learning, collaboration, and being solution-based. Despite facing early financial challenges, his resilience and resourcefulness have led him to develop a unique business model, acquire a dental practice in Honolulu, and establish himself as a leader in the field. His vision for the future involves further expansion, potentially merging with partners to create a larger organization where everyone can work and grow together. What to Expect This Episode: Implementing extended hours and service industry concepts in dental practice can lead to significant growth and patient satisfaction. Transitioning from a solo practice mindset to a business-oriented approach in dentistry involves shifting focus from individual work to team growth and business development. Building a successful group practice involves attracting and retaining talent across various roles within the organization. Cedrick Lewis emphasizes the importance of organizational culture in business success, advocating for a servant leadership approach. Cedrick Lewis discusses the challenges of aligning associate doctors with the practice's vision for continued success, emphasizing the importance of a growth mindset and a team-oriented approach to business expansion. Implementing bonus systems based on behaviors and performance can incentivize employees and drive company culture. By designing bonus plans that align with desired behaviors and outcomes, businesses can motivate their employees to excel in specific areas, ultimately leading to improved performance and success in the long run. Connect with Cedrick Lewis: https://www.linkedin.com/in/cedric-lewis-830211b1/ Connect with Stan Kinder: https://www.linkedin.com/in/stan-kinder-a3280a234/ Learn more about your ad choices. Visit megaphone.fm/adchoices
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    41 分