The Dentalpreneur Podcast w/ Dr. Mark Costes

Latest Episodes:

1895: Breaking Boundaries & Calculating ROI Pt. 2 Jan 12, 2024

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On today's part-2 episode, Dr. Andrew Vallo and Matt Brown continue their insightful discussion with host Mark. They delve into the complexities and stresses of managing multiple dental practices, with a particular focus on HR, cash flow, patient care, operations, and leadership. They also share their experiences and lessons learned since starting their own dental podcast. This episode provides valuable insights for dental professionals looking to expand their practices and enhance their leadership skills. Be sure to check out Part 1 if you haven't already.

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1894: Breaking Boundaries & Calculating ROI Pt. 1 Jan 11, 2024

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On today's episode, we dive into the entrepreneurial journey of two dental industry professionals, Dr. Andrew Vallo and Matt Brown, co-hosts of the Dental Unfiltered podcast. Dr. Vallo, a rapid-growth expert and dental startup enthusiast, and Matt Brown, a military veteran and marketing strategist, share their unique perspectives on dental entrepreneurship and the integration of advanced clinical procedures into private practice. This insightful discussion covers the lifecycle of a full-arch implant patient, foundational strategies for implant programs, and team training for complex surgical and restorative procedures.

Stay tuned for tomorrow's Part 2 conclusion.

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1893: Hope for the Dental Practice Owner Jan 10, 2024

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On today's episode, Dr. Mark Costes (Dental Success Summit 2022) discusses the financial dynamics of dental practice ownership, focusing on the profitability contrasts between efficient and less efficient practices. He explores the benefits and challenges of owning a business, highlighting autonomy, tax benefits, and potential equity gains, alongside stresses like debt and HR complexities. Additionally, Mark addresses high stress and burnout rates in dentistry, advocating for community support and self-care practices to maintain mental and professional health.

For more information or to join the DSN or DSI community, visit Dental Success Network and True Dental Success.

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1892: Advanced, Real World Tax Planning Pt. 2 Jan 09, 2024

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On today's episode, we return for a riveting continuation of our discussion with Chris Sands and Brent Saunier from Profi2020. Focusing on the complex world of tax strategies and financial regulations, this episode offers deep insights into several critical aspects crucial for dental practices.

The conversation explores cost segregation, a tax strategy that accelerates deductions and its profound impact on dental practices. We delve into the topic of bonus depreciation, discussing its implications for dental business owners as the benefits begin to reduce in the coming years. An important point of discussion is the rise in IRS underpayment penalty interest rates and how it influences dental practices, emphasizing the need for timely quarterly tax payments.

This episode also examines the Secure Act 2.0, elaborating on its mandates for small businesses regarding retirement plans and what it means for dental practice owners. The importance of maintaining cash reserves in businesses is underscored, along with strategies for effective financial management in times of economic uncertainties. Valuable advice is provided on how to select the right CPA firm, focusing on aspects like communication, alignment of core values, and expertise in growth-oriented tax strategies. Additionally, tips are shared for dental practice owners on optimizing their investments and minimizing tax liabilities.

Brent Saunier imparts his expertise on cost segregation, highlighting its potential to significantly impact tax savings by accelerating depreciation on various property components. Chris Sands brings to the fore critical changes in tax regulations, including the Secure Act 2.0, and discusses their effects on small business owners, especially those in the dental industry.

For listeners who missed the discussion in Part 1 of this series, it's recommended to catch up with yesterday's episode.

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1891: Advanced, Real World Tax Planning Pt. 1 Jan 08, 2024

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On today's episode, we are joined by two exceptional guests, Brent Saunier and Chris Sands from Profi2020. They bring a wealth of knowledge in finance and accounting, particularly in the healthcare sector, providing us with invaluable insights into business operations, tax strategies, and financial management.

Brent Saunier, with over two decades of experience in accounting and finance, shares his expertise in enhancing business profitability and valuation, offering comprehensive tax and operational advice, especially in the healthcare sector. Chris Sands, a partner at Strategic Growth and Profi2020, uses his experience in dental practice to provide strategic growth advice to healthcare professionals, focusing on fiscal responsibility and proactive tax planning.

We dive into the complexities and key learnings from my recent two-year IRS audit, highlighting the importance of having a strong, competent team and exceptional record keeping. The discussion also explores how IRS audits are determined, focusing on statistical analysis and the need for comprehensive documentation. The significance of maintaining clean and organized business records to ensure favorable outcomes during audits is a critical point of discussion.

Our conversation then shifts to various tax strategies and the importance of being wary of fraudulent promoters, especially concerning Employee Retention Credits (ERC) and other tax benefits. We delve into the IRS's "Dirty Dozen" list, highlighting common audit triggers in the dental industry and the importance of cautious navigation in tax planning. Additionally, we examine the rising popularity of cryptocurrency in business transactions and its potential audit risks.

Don't miss out on the continuation of this engaging discussion. Tune in tomorrow for Part 2 of our episode with Brent Saunier and Chris Sands, where we delve deeper into the strategies for financial success in the healthcare sector.

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1890: The Lifecycle of a Full Arch Implant Jan 06, 2024

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On today's episode, we have Chris Richard, Dr. Dan Briskie and Dr. Taher Dhoon from the Colorado Surgical Institute (CSI) for another exciting Surgical Saturday. The trio dives into te full arch implant life cycle.

Dr. Taher Dhoon, Dr. Dan Briskie, and Chris Richards have a discussion that focuses on the full arch implant patient's life cycle and how to integrate such advanced clinical procedures into a private practice. They cover starting an implant program from scratch, overcoming common challenges, and ensuring your team is well-trained for these high-end surgical and restorative procedures. The episode promises a wealth of knowledge for those looking to expand their clinical skills and services without external referrals.

Don't miss out on the upcoming events from CSI. Explore and register here: https://www.coloradosurgicalinstitute.com/

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1889: Effective Guerilla Marketing Jan 05, 2024

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On today's episode, we welcome Dr. Ben Kacos from Shreveport, Louisiana. Dr. Kacos, a successful dental practitioner and a primary DSI Black Belt coach, discusses various topics, with a particular focus on marketing strategies in the context of a potential financial crunch and declining consumer confidence.

Ben shares his perspective on balancing work and leisure, expressing a preference for short vacations due to his love for work and the structured environment of his office. He emphasizes the importance of being actively involved in his practice and the sense of satisfaction he derives from it.

Ben also covers internal marketing strategies, where Dr. Kacos talks about his approach to fostering trust and positive impressions among patients within his dental practice. He mentions using TVs with USBs to display slideshows of various images in the treatment rooms and waiting area, showcasing the practice's services, team activities, and patient interactions.

Furthermore, Dr. Kacos discusses external marketing strategies, including community involvement and non-traditional marketing efforts like sponsoring local sports teams and utilizing promotional materials to attract new patients. He explains the effectiveness of offering tangible rewards like Yeti coolers or battery banks to encourage referrals and reviews, and shares insights on sourcing affordable marketing materials from platforms like Alibaba.

Finally, Dr. Kacos outlines his plans for 2024, focusing on a robust follow-up system using various communication methods and leveraging talent from the Philippines for customer service tasks. He stresses the value of integrating this system into his practice to enhance efficiency and patient engagement.

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1888: Massive Growth in a Small Urban Space Pt. 2 Jan 04, 2024

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On today's episode, we continue exploring Dr. Urda's journey in the world of dentistry. She sheds light on the unique challenges and strategies associated with urban dental practices and how she's navigated these waters with grace and expertise.

The highlight of today's talk focuses on Dr. Urda's transition to a larger facility and her evolving role within DSI, where she embraces both leadership and coaching responsibilities. This segment is especially invaluable for anyone looking to scale their practice or take on a more significant role within their organization.

Missed the first part of our talk with Dr. Monica Urda? Head back to Part 1 to hear the beginnings of her fascinating journey and insights into building a successful dental practice.

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1887: Massive Growth in a Small Urban Space Pt. 1 Jan 03, 2024

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On today's episode, we are thrilled to welcome the incredibly talented Dr. Monica Urda. Born and raised in the northern suburbs of Chicago, Dr. Urda's impressive journey in dentistry started with her cum laude graduation from Loyola University, moving through Marquette School of Dentistry, and leading to her current position at Smile Science Chicago in Wicker Park.

In Part 1 of this two-part series, Dr. Urda dives deep into the rapid growth of her practice. She shares her insights on the critical role of culture and systems in managing a busy dental practice efficiently. We also explore the nuances of building a strong team culture, a cornerstone of any thriving practice.

Stay tuned as Dr. Urda unravels the secrets behind her successful career, offering valuable lessons for dental professionals at all stages. Don't forget to tune in tomorrow for Part 2, where we'll continue our conversation with Dr. Urda!

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1886: Innovative Leadership Jan 02, 2024

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On today's episode, we have Dr. Desiree Yazden join us, a successful dentist and coach. Dr. Yazden shares her journey from working extensive hours to significantly reducing her workweek while doubling her revenue, a change prompted by the birth of her first child. She founded the Million Dollar Mentorship program in 2019, leveraging her experience to help other doctors achieve similar work-life balance. Dr. Yazden also discusses her passion for cosmetic dentistry and her practice in Newport Beach. She emphasizes the importance of marketing, particularly through social media, and how it transformed her practice, attracting patients and building a robust online following. Additionally, Dr. Yazden discusses the challenges of leadership and team management in her practice, highlighting the role of mindset and strategic planning in achieving professional success and personal fulfillment.

Learn valuable insights on effective marketing, team management, and harnessing the power of social media to grow your practice. Don't miss out on these game-changing strategies – listen now and take the first step towards a more balanced and successful dental career!

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