Why Profit Should Come First with Mike Michalowicz

Why Profit Should Come First with Mike Michalowicz- RD Podcast

By the time he was thirty-five years old, Mike Michalowicz had founded and sold two multi-million dollar companies. Then, after becoming an angel investor, he lost his entire fortune and started all over again. Driven to find better ways to grow healthier, stronger companies – he created innovative strategies to help businesses thrive.

The author of various impactful business books, including Profit First, The Toilet Paper Entrepreneur, The Pumpkin Plan, and Surge, Mike carries with him a powerful message that can transform the way we run our practices. In this episode, he explains why traditional accounting hurts businesses and shares insight into his profit-first system that will help turn reactionary choices into sound business decisions.

Key Quotes:

  • The fundamental formula for accounting—sales minus expense equals profit—is crushing businesses because profit is not the first consideration.
  • If you really care about your clients, you’ll really focus on profitability, so that you’re not selling unnecessary things, and you’re not just selling to survive. You’re selling resources that people truly need and caring for them.
  • In our business, if we simply wait to see where and when there’s money, we’re in this binge mentality.
  • If we intentionally restrict our money supply available to run our businesses, then we are forced to run frugal operations, as we should – helping our businesses grow faster and stronger than ever.
  • As money starts accumulating in our profit reserve, it becomes tempting to borrow that money. You’ve got to remove the temptation of borrowing from it by getting it out of sight and out of mind.
  • Instead of using a system that makes us change who we are, use a system that works with who we are naturally.
  • If you’re really serious about being profitable, then set up a new checking account. It’s going to be your profit account.

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Bringing Interventional Care to Dentistry with Dr. Jason Campbell

Bringing Interventional Care to Dentistry with Dr. Jason Campbell I met Dr. Jason Campbell at the Voices of Dentistry Summit in Nashville, TN. He has a fascinating story and is engaged in groundbreaking work with patients at his clinic, Cosmetic and Family Dentistry, in Prescott, AZ. From an early age, Jason’s always wanted to be a dentist. Since genetic problems with teeth plagued him from the beginning, he brings a sense of passion to working with patients who present unique challenges.

Jason is a general dentist, but he’s also engaged in complex surgeries and reconstructive dentistry. It wasn’t until he was 14 years old that he was able to get the reconstructive surgery he needed. This allows Jason to relate to patients with challenging cases that other dentists can’t or won’t touch.

Jason is an expert in biomechanical problems and can often bring people relief with minor treatments. He trains doctors to identify underlying causes that often generate a host of symptoms that can lead to an improper diagnosis. He specializes in helping dental refugees who haven’t found success in resolving tooth-related illnesses. In this episode of Relentless Dentist, we’ll talk about how Jason is leading the pack in transforming the practice of dentistry. He’s helping patients who feel like there are no hope and training other dentists to follow in his footsteps.

Key Quotes:

  • I feel like there’s this third thing in dentistry that we’re missing – interventional care.
  • Dentistry is an act of charity. Charity brings good things into your life.
  • You hear of interventional medicine, but you don’t hear that term a lot in dentistry.
  • In dentistry, there really are only three things that we contend with. If we can help people avoid these three elements, we can stop 99% of dental problems.
  • Inflammation systematically increases your risk for type II diabetes. It increases your risk for pancreatic cancer.
  • When you have these three issues: biomechanical problems, acidity problems, and inflammation – that’s what really causing tooth issues.
  • You have to start peeling back the symptoms to get the cause to determine what’s the best course of treatment for the person.
  • There’s life beyond dentistry.

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Passion, Challenges, and Courage in Dentistry with Dr. Bilal Saib

Passion, Challenges, and Courage in Dentistry with Dr. Bilal SaibToday’s episode is a little different. Instead of me interviewing our guest, Dr. Bilal Saib of The Passionate Dentist podcast, we interview each other about the highs and lows of our careers and the joys of podcasting.

Dr. B is a fellow dentist and podcaster based in North Carolina. He’s also a frequent missionary to the West Bank, where he performs free dental work in communities in need. In this episode, we talk about how our shows have given us a greater sense of community with other dentists, and dig into our careers.

Dr. B and I talk about the lack of confidence among dentists, which is exacerbated by our tendency to only talk about the good things happening in our practices. We discuss the self-reflection that goes into building your own practice and learning how to manage a team, and how it’s made us better people. Dr. B also shares some of his experiences with missionary work, a unique but meaningful challenge he feels compelled to undertake.

Key Quotes:

  • When you decide to own dental practice, you have to step up to the plate and do what is required of you.
  • The thing that makes us more fulfilled and makes our practices grow is the psychology of you, the owner, and there’s nothing more powerful in psychology than confidence.
  • What the practice requires of me has made me such a better person.
  • I go on mission trips because I’m sharing my gift. And my gift is all these little tidbits of things that are lined up perfectly to create this perfect environment.
  • I chose to have a low volume, high-quality practice even before I started my practice.
  • Dentists are sometimes so benevolent that we forget the time and energy that we put into our education, hiring and firing staff, and patient relationships – there’s a lot of equity there – either because we come from humble beginnings or because we come from a place of give, give give.
  • One of the first questions I ask dental students is: “why did you choose to become a dentist?”
  • The first check I ever wrote myself was $100. It was a symbolic gesture of my three year anniversary.
  • You learn a lot from practice management because when you have a busy practice, you learn what you want and you learn what you really don’t want. And there’s huge value in knowing what you want.
  • Don’t treat insurance patients differently than non-insurance patients. Don’t cut your quality short. Do your very best with every patient, even if they’re on insurance.

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SEO Marketing Strategies for Dentists with Mike Pedersen

SEO Marketing Strategies for Dentists with Mike PedersenThis week on the Relentless Dentist Podcast, Mike Pedersen from TheDentalBoost.com will help you improve your SEO marketing strategies. He is on the forefront of digital marketing for the dental industry. If you are looking for ways to connect with your ideal client, SEO can help bring that target client to your front door.

He’s one of the most knowledgeable people I know regarding online marketing for dentists. You may have heard of the term SEO, but not know enough to be dangerous. Dentists may be gun shy about working with online marketing agencies because of lackluster results in the past. Mike can revitalize your website search traffic and improve your marketing efforts.

As dentists, we want to occupy the first page of a Google search for keyword phrases central to our practice, specialty, and location. Your appointments fill up when clients searching for the dental services you provide land on your website. Since every dentist has a website these days, SEO marketing techniques can help you stand out from the crowd. Mike will help you put on your geek hat for a few minutes a month and dig into just how important good SEO strategies are for your business.

 

Key Quotes:

  • SEO is being found when someone types in a specific search term for dentistry in Google.
  • Google is trying to consume more of their first page with ads.
  • The maps listing is only found for certain phrases.
  • Over 50% of people know that the Google ads are first and they skip them and they go right to that first organic result.
  • The searcher is using search engines more specifically. They’re getting smarter.
  • When somebody types in “cost of”, we called them a qualified searcher.
  • Long-tail is where you’re getting 5 – 7 keywords in a search phrase.
  • You should have individual content for each one of your service pages (interior pages).
  • It’s giving Google what they want so they reward us with the ranking.
  • Every dental website page should have a minimum of 2-3 calls to action on each page.
  • Voice search is becoming more and more popular.

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Establishing the Link Between Oral and Physical Health with Dr. Tom Larkin and Dr. Brad Bale

Establishing the Link Between Oral and Physical Health - RD PodcastThis week on the Relentless Dentist, I share a fascinating conversation with Dr. Tom Larkin and Dr. Brad Bale from the Voices of Dentistry 2017 conference. This dynamic duo is leading the effort to highlight the link between oral health and arterial disease – the root cause of many forms of physical illness in this country.

Tom and Brad are collaborating on an initiative to raise awareness about the link between periodontal disease and arterial wellness. The Bale-Doneen method is revolutionizing the treatment of ailments and putting an emphasis on oral wellness. We talk about the research underway which is helping to establish the relationship between heart failure and poor oral health.

On this episode, we also discuss the programs that Brad and Tom have created to train dentists and their staff to focus on a patient’s holistic oral well-being. They’re working to help open the minds of both dentists and patients to help everyone understand the link between oral diseases and a patient’s long-term, overall physical health.

Key Quotes:

  • Inflammation is what drives arterial disease.
  • You really need to maintain the health of your arteries to maintain an excellent quality of life.
  • Understand that our work maintaining a healthy mouth is actually saving lives, not just making people’s smiles look great.
  • The beauty of the Bale-Doneen method is that it’s an exact diagnostic protocol.
  • There are three areas of inflammation that the dentist can address.
  • Our method does actually halt and regress disease. That’s been shown.
  • Most dentists aren’t anchored in insurance.

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