Episode Details

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Bulletproof Dental Practice Podcast Episode 79

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guests: Tyler Yim and other students from Temple University

Watch full video of the interview by clicking here!

Questions:

• What is the most valuable resource you use when you were learning how to run a successful business and still use today?
  • YouTube is a great learning source.
  • Don't be afraid to take risks. Failure is a great way to learn.
  • Look to textbooks for dental education and model successful retail businesses for business education.
  • Podcasts are another great resource.
  • Look for CE outside the realm of dentistry.
• Did you utilize coaches and consultants as you were growing?
  • Craig is a huge Tony Robbins fan. Suggests looking outside of dentistry.
  • Pete and Craig share a coach to hold each other accountable.
  • You never want to get to the point where you think you've figured it out and don't have to learn anymore.
  • Look for a coach outside of dentistry, more in business.
• Knowing what you know now about DSO's, how would you change your business model?
  • There is a lot of runway for awesome, quality practices. Whatever model you ultimately choose just be sure you shoot to be the BEST you can be.
  • Consumers are expecting a lot. It's very hard to do alone and solo as a new dentist. There's safety in numbers.
  • The future for dental specialty is concerning, particularly because of disruption from technology. The future belongs to the super GP.
  • It'll be easier to have larger offices in a wider geographic area.
• What do you recommend to new grads as far as overcoming obstacles?
  • Work for someone for a couple years instead of starting a practice right away. Very few licensed dentists are ready to go right out and kill it on their own.
  • GPR's are valuable.
• What would be the most ideal pathway for getting the largest scope and the most experience at the fastest amount of time?
  • Surgical GPR's are a good investment.
  • Immerse yourself as much as possible in technology.
  • Learn all you can about occlusion, as it's the basis for everything.
  • Invest in CE.
  • Study public speaking and body language.
  • To be awesome you have to have clinical excellence and good rapport with patients.
• How does the future of dentistry look with having associates as employees vs offering ownership?
  • Most corporations do not care if you work there for 2 years and then take off. They plan that into their business model. Look for long term alignment and ownership.
  • The ownership mentality is something you must have. Do not join a practice if you're not looking to be there long term.
• Focus on having one great practice vs. a lot of mediocre ones. Don't scale too quickly.
• Have you experimented with influencer marketing on social media like Instagram?
  • Influencer marketing is the most underpriced attention out there.
  • It's hard to utilize because you may not know how to source those influences in your community.
• Would you start an Instagram page while in school? Would you buy a domain name for SEO purposes?
  • Yes, develop your own brand RIGHT NOW. Buy the domain but don't try to start building SEO c