The Dentalpreneur Podcast w/ Dr. Mark Costes
The Dentalpreneur Podcast w/ Dr. Mark Costes
Mark Costes
The goal of this podcast is to assemble the greatest minds of the dental profession and to pass on their most valuable and succinct lessons, in order to help you to achieve your full potential in practice and in life. Let's face it. Dentistry can be a frustrating and isolating profession... but you don't have to be an island anymore. It's possible to become more profitable, less stressed and more fulfilled in your career and it's our mission is to help you get there. For a whole host of free practice building tips and resources, visit our website at TrueDentalSuccess.com
1844: Capturing A Company's Cultural Essence
On today's episode, we're thrilled to welcome Chris Ronzio, founder and CEO of Trainual, a trailblazing software platform that's redefining how businesses onboard, train, and scale their teams. Chris's journey from a teenage entrepreneur to a best-selling author and thought leader in business efficiency exemplifies the spirit of innovation and excellence. Join us as we uncover the story behind Trainual, Chris's personal mission, and the profound impact his work is having on businesses across 180 countries. In our conversation, Chris delves into the genesis of Trainual, revealing how a high school video production company sparked the need for effective delegation and training methods. He illuminates the four pillars of Trainual—company profile, people, policies, and processes—and how these elements form the bedrock of a robust training system. Chris emphasizes the value of capturing a company's cultural essence, ensuring every team member, from interns to executives, shares a common understanding of the mission and operations. We also explore the role of AI in Trainual, how it simplifies content creation, and aids in knowledge retrieval, making the platform an indispensable part of any company's growth toolkit. Real-world success stories from various sectors, including Iron Man and marketing firms, showcase Trainual's versatility and its role in streamlining HR processes, saving costs, and fostering consistent employee training. For listeners eager to transform their business's training and onboarding experience, visit trainual.com and use code "dentalpreneur20" for 20% off. Discover how Trainual can unlock your team's potential and drive your business forward. EPISODE RESOURCES www.trainual.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast
Nov 9, 2023
44 min
1843: AI, Bioengineering & Dentistry
On today's episode, we're thrilled to introduce Parsa Shahidi, a D4 dental student with a fascinating blend of experiences in biomedical engineering, entrepreneurship, and with an upcoming residency at Harvard School of Dental Medicine. Dr. Costas leads the conversation, highlighting the unexpected paths that brought them together and delving into Parsa's multidisciplinary approach to dentistry. Parsa steps us through his journey from a Massachusetts upbringing imbued with entrepreneurial spirit, through his pivot from biomedical engineering to dentistry, influenced by a desire to impact healthcare. He shares the story behind founding an audio engineering technology company and how his startup experiences are shaping his contributions to dental AI and oral health. We get an intimate look at his academic and professional odyssey, which showcases a balance of technical prowess and business insight, leading him to the dental field. As a dental student, Parsa confronts the dual challenge of managing startup ventures while immersing himself in rigorous academic training, a testament to his commitment to maintaining a rich tapestry of interests. Looking forward, Parsa discusses his aspiration to intertwine his clinical practice with technological innovation, particularly focusing on the potential of AI in specialties like endodontics. To get a glimpse into the future of dentistry through Parsa's eyes and to keep up with his innovative endeavors, make sure to visit his LinkedIn profile at https://www.linkedin.com/in/parsa-shahidi-091554121/. Join us to uncover how Parsa is not just preparing for a future in dental medicine but actively shaping it through a unique blend of engineering acumen and entrepreneurial zeal. EPISODE RESOURCES https://www.linkedin.com/in/parsa-shahidi-091554121 https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast
Nov 8, 2023
53 min
1842: DSOs, Multiples & Liquidation
On today's episode, Mark sits down with Chip Fichtner, the principal of Large Practice Sales (LPS), to delve into the transformative trends of consolidation and investment in the dental industry. They discuss the significant impact of 'invisible' Dental Support Organizations (DSOs) and how they are reshaping the landscape of dental practice ownership. In an enlightening conversation, Dr. Costes and Chip Fichtner examine the surge of over $10 billion of new equity capital pouring into dental consolidation. They unravel the concept of 'invisible' DSOs—entities that partner with practices to offer support and capital while preserving the practice's unique identity and autonomy. Exploring the dynamics of invisible DSOs, the duo sheds light on how these organizations, backed by diverse investors such as private equity, family offices, and sovereign wealth funds, prefer to acquire a majority stake in dental practices. They operate as 'silent' partners, offering substantial support systems without altering the practice's established brand or operational software. The discussion then pivots to the critical factors influencing practice value and multiples during acquisitions. Chip provides insights into how the number of bidders, practice growth rates, and regional demographics—especially in high-demand areas like the Sun Belt—play a significant role in determining a practice's market value. Highlighting the benefits of partnering with DSOs, they discuss how practices can leverage improved digital marketing, recruitment capabilities, and negotiate better reimbursement rates and benefit costs, courtesy of the DSO's expansive network and scale. Fichtner elucidates the strategic approach LPS employs to represent dental practices. He emphasizes their meticulous process in connecting sellers with the ideal invisible DSO buyers, aiming to establish synergistic relationships that maximize practice valuation. Finally, the concept of the 'First Bite' and 'Second Bite' of the apple is explained. Chip breaks down the financial implications of initial cash-outs at closing and the potential for future earnings through strategic partnerships. They underscore the exponential growth potential of retained equity when aligning with the right DSO. For a deeper dive into the future of dental practice ownership and to explore opportunities for your practice, visit Large Practice Sales at largepracticesales.com. Discover how invisible DSOs can become a game-changing partner for your practice. EPISODE RESOURCES largepracticesales.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast
Nov 7, 2023
49 min
1841: The Dental Boardroom
On today's episode, we have the pleasure of repurposing Dr. Mark Costes's insightful conversation from Wes Read's The Dental Boardroom podcast, bringing the key highlights directly to our listeners. Join us as Dr. Costes delves into the lessons and experiences that shaped his professional path. Dr. Costes recounts his unique journey from being an athlete to establishing himself in the field of dentistry, underscoring the parallels between the resilience and teamwork seen in sports and their importance in dental practice. He shares entrepreneurial lessons from his early venture into the catering truck business and how this experience was instrumental in his successful transition from an associate dentist to owning his practices. Despite facing learning challenges and multiple rejections from dental schools, Dr. Costes’s story is one of unwavering persistence, culminating in his entrepreneurial achievements. The episode also sheds light on the necessity of business education for dentists, discussing the "Associates on Fire" program which aims to prepare dentists for practice ownership through a comprehensive business education. Dr. Costes emphasizes the substantial returns on investing in business management and financial education over conventional financial investments, advocating for continued professional growth and learning. To gain further insights into the business side of dentistry and to explore the valuable resources mentioned in our discussion, don't forget to check out Wes Read at www.practicecfo.com. Discover the tools and knowledge that can empower your dental practice to thrive in today's competitive landscape. EPISODE RESOURCES www.practicecfo.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast
Nov 6, 2023
57 min
1840: Zirconia Implants
On today’s episode, Dr. Mark Costes is joined by Dr. Dan Briskie and Dr. Taher Dhoon from the Colorado Surgical Institute (CSI) for another enlightening Surgical Saturday. The trio, along with special guests Jamie Levine and Brittany Sherwin from NeoDent, dive into a comprehensive discussion comparing different implant types and protocols, with a spotlight on zirconia implants. The episode kicks off with Dr. Briskie sharing his journey from skepticism to acceptance concerning zirconia implants, attributing the shift to increased patient demand driven by aesthetic preferences and theoretical allergy concerns related to titanium. Brittany Sherwin chimes in on the historical evolution and adoption of zirconia implants, emphasizing NeoDent’s innovative two-piece ceramic design tailored for aesthetic and immediate loading protocols. A substantial portion of the discussion is dedicated to contrasting the placement protocols of zirconia and titanium implants, led by Dr. Briskie. He elaborates on the need for a delicate approach when handling zirconia implants to prevent cracking, a common issue attributed to the difference in torque requirements between zirconia and titanium. The discussion navigates through the detailed steps of preparing the osteotomy, the use of bone taps, and the importance of adhering to specified RPM and torque values to ensure the successful placement of zirconia implants. Dr. Dhoon supplements the conversation by sharing his own experiences and the need to unlearn some muscle memory associated with titanium implant placement to accommodate the delicate nature of zirconia. The episode is rich with practical insights, offering listeners a deep dive into the nuanced world of implantology, especially the emerging trend and protocols surrounding zirconia implants. Dr. Briskie and Dr. Dhoon’s shared experiences and the information provided by the NeoDent representatives make this episode a valuable resource for dental practitioners keen on staying updated with the evolving landscape of dental implant materials and techniques. Don’t miss out on the upcoming event from CSI. Explore and register here: https://www.coloradosurgicalinstitute.com/#1 EPISODE RESOURCES https://www.coloradosurgicalinstitute.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast
Nov 4, 2023
38 min
1839: Utilizing & Maximizing CEO Time Pt. 2
On today's episode, we continue the insightful discussion from the previous session with Dr. Kelly Dove, Dr. Summer Kassmel, and Ashley Hirschfeld. As successful business owners, they delve deeper into the intricacies of optimizing CEO time for both owners and key team members. If you haven't yet, make sure to check out part one for a comprehensive understanding of the journey from clinician to executive. Key Takeaways: Scheduling Focus Time: Understanding the significance of dedicated focus time for large advanced initiatives, not just for owners but also for key team members. Setting Up for Success: Unveiling strategies for effectively scheduling CEO focus time to avoid common timing mistakes that hinder productive clinical work. Purposeful Pre-Planning: Delving into the strategy of purposeful pre-planning for maximum effectiveness, shifting from a reactive to a proactive planning approach. Integrating Assistance: Discover the transformative impact of integrating personal, administrative, and executive-level assistance into your life and organization, and how it propels both personal and professional growth. Absorbing Valuable Insights: Encouragement to take time to absorb the wealth of knowledge shared by these successful entrepreneurs and leaders within their dental practices. Make sure to revisit yesterday's 1st part of this 2-part series for a well-rounded grasp of the discussions. Join the Dental Success Network at https://www.dentalsuccessnetwork.com/ for more enriching dialogues and to connect with a community of forward-thinking dental professionals. EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast
Nov 3, 2023
34 min
1838: Utilizing & Maximizing CEO Time Pt. 1
On today's episode, we delve into a riveting discussion with Dr. Summer Kassmel, Dr. Kelly Dove, and the GSD Queen, Ashley Hirschfeld, the COO of Dental Success Network. The focus is on a crucial pivot—transitioning from a primarily clinical role to a clinical/executive hybrid, emphasizing the crafting of 'CEO time' amidst bustling schedules. This episode is the first part of a two-part series unraveling the mysteries of non-clinical deep work and how to integrate high-value tasks effectively. Key Takeaways: Understanding CEO Time: Discover the essence of setting aside dedicated CEO time for non-clinical, high-value tasks, and why it’s a game-changer for dental professionals evolving into executive roles. Avoiding the Chair-Side Trap: Learn about the common pitfall of defaulting to chair-side tasks and how to channel your focus on executive functions without getting bogged down by clinical duties. Navigating the Identity Shift: Delve into the emotional and practical aspects of transitioning from clinician to CEO, and why this shift is often laden with challenges. Crafting Effective Systems: Uncover the core elements vital to integrating into your system during CEO time to drive productivity and strategic focus. Dodging Task-Oriented Pitfalls: Understand why it's crucial to avoid task-oriented time chunks during dedicated deep work sessions, and how to structure your CEO time for maximal impact. Drawing Boundaries: Learn the art of setting clear boundaries with your team to minimize distractions and amplify the value derived from your CEO time. Be sure to tune in tomorrow for the concluding episode of this enlightening two-part series. Become a part of the transformative discussions by joining the Dental Success Network at https://www.dentalsuccessnetwork.com/. See you in the next episode! EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast
Nov 2, 2023
44 min
1837: Building Your Economic Engine: Doctor Development Pt. 3
On today's episode, Dr. Mark Costes unfolds a wealth of insights from his presentation at the recent Polaris DSI crossover event. The theme of this enlightening series is "Building your Economic Engine: Doctor Development", aimed at empowering dental practitioners with the knowledge and tools to excel in their practice. This three-part series will journey through various facets of doctor development, showcasing proven strategies and protocols to elevate practice operations and financial performance. Topics Discussed: Dr. Costes shares his approach to crafting incentive programs within his businesses, revealing strategies to motivate and reward outstanding performance. The discussion transitions to handling hygienist bonuses in the dental office, providing actionable insights to devise a fair and motivating bonus structure. The presentation rounds off with an engaging Q&A session, where Dr. Costes addresses a variety of insightful questions from the audience, further enriching the learning experience. If you've missed Part 1 and Part 2, go back and check them out to gain a full understanding of building your economic engine. To join a network of ambitious dental practitioners, explore DSN at https://www.dentalsuccessnetwork.com/. EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast
Nov 1, 2023
25 min
1836: Building Your Economic Engine: Doctor Development Pt. 2
On today's episode, Dr. Mark Costes unfolds a wealth of insights from his presentation at the recent Polaris DSI crossover event. The theme of this enlightening series is "Building your Economic Engine: Doctor Development", aimed at empowering dental practitioners with the knowledge and tools to excel in their practice. This three-part series will journey through various facets of doctor development, showcasing proven strategies and protocols to elevate practice operations and financial performance. Topics Discussed: Dr. Costes discusses the Horizon Dental Group associate onboarding audit protocol, underscoring the significance of performing audits and its correlation to calibration. This segment unveils key strategies to ensure seamless onboarding and alignment of new associates. The focus shifts to the master onboarding checklist, a comprehensive tool to navigate the onboarding process effectively, ensuring all critical aspects are addressed to foster a conducive working environment. If you haven't listened to Part 1, go back and check it out. Stay tuned for the concluding Part 3 of this series tomorrow. Join the DSN community at https://www.dentalsuccessnetwork.com/. EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast
Oct 31, 2023
20 min
1835: Building Your Economic Engine: Doctor Development Pt. 1
On today's episode, Dr. Mark Costes unfolds a wealth of insights from his presentation at the recent Polaris DSI crossover event. The theme of this enlightening series is "Building your Economic Engine: Doctor Development", aimed at empowering dental practitioners with the knowledge and tools to excel in their practice. This three-part series will journey through various facets of doctor development, showcasing proven strategies and protocols to elevate practice operations and financial performance. Topics Discussed: Dr. Costes delves into the stages of the hierarchy of competence, illuminating a learning model that transitions from incompetence to competence. This segment lays the foundation for recognizing and fostering skill development within the dental practice. The conversation transitions to the DSI blueprint, outlining the pillars essential for ascending to a DSI blackbelt. This blueprint is meticulously crafted to guide dental practitioners through a progressive pathway towards enhanced practice mastery. Stay tuned for Part 2 of this enlightening series tomorrow. To delve deeper into a community of growth-oriented dental practitioners, join DSN at https://www.dentalsuccessnetwork.com/. EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast
Oct 30, 2023
27 min
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