On today’s episode, Dr. Mark Costes catches up with Jake Conway, the analytics guru behind Custom Practice Analytics and a foundational figure at DSI. They reminisce about their early days as office mates and discuss the evolving challenges in dentistry post-COVID. As practices face new hurdles, Jake shares insights on the universal struggles dental offices are experiencing nationwide, from staffing to patient management. The conversation pivots to the critical role of effective practice analytics in navigating these changes and the benefits of having a supportive network to avoid isolation in problem-solving. Additionally, they touch on the strategic timing for practice expansion, the impact of patient no-shows, and how to maintain profitability through analytical decision-making. This dialogue not only dives deep into the financial and operational aspects of running a dental practice but also reinforces the importance of community and shared knowledge in the ever-changing landscape of dentistry.

EPISODE RESOURCES

• https://www.truedentalsuccess.com
• Dental Success Network
• Subscribe to The Dentalpreneur Podcast

On today’s episode, Mark chats with Michael Lomotan, a co-founder and owner of the Dental Success Network. Michael brings a unique perspective to dentistry with over 20 years in corporate biotech before diving full-time into the dental world. In this episode, he shares his journey from being "the ultimate nerd" in biotech to playing a crucial role in the dental industry. Michael discusses his daily responsibilities, including managing vendor relations and ensuring profitability through strategic supply negotiations. He also reflects on the advantages of being deeply involved in a community like DSN, which leverages collective buying power to secure significant discounts for its members. This insightful conversation covers a range of topics from the nuances of vendor negotiations to the potential future impact of AI in dentistry. Whether you're looking to optimize your dental practice's operations or explore the intersections of technology and dentistry, this episode is packed with valuable insights.

EPISODE RESOURCES

• https://www.truedentalsuccess.com
• Dental Success Network
• Subscribe to The Dentalpreneur Podcast

On today’s episode, we have another segment, in which Mark presents his presentation titled "Core Drivers of a World-Class Organization" at the Dental Success Summit 2024. In the final segment of his presentation, Mark honed in on the essence of leadership as the bedrock for creating a world-class organization. He simplified the concept, arguing that leadership isn't about charisma or grandeur, but about setting clear expectations, holding teams accountable, effective communication, and empathy. He moved on to discuss the 'seasons' of business, emphasizing that success requires periods of intense effort and sacrifice. During such times, he underscored the importance of having open lines of communication with family and significant others to ensure their understanding and support.

Furthermore, Mark tackled the common tendency to overcomplicate business. He stripped it back to the basics: revenue minus expenses equals profit, reminding attendees that it's not always about driving production but about managing profitability. He also addressed the importance of measuring and improving less tangible aspects of a business, such as leadership and culture, arguing that these can be methodically tracked and enhanced.

Sharing from personal experience, Mark cautioned against measuring success solely by wealth accumulation. He reflected on his own journey to financial success and the realization that it didn't bring the expected happiness or fulfillment, illustrating the importance of nurturing all aspects of life, not just financial ones.

Additionally, Mark recognized the value of charisma, the art of conversation, and the ability to build rapport and trust. He shared anecdotes to illustrate these points, including a memorable dinner with author Ryan Holiday and NBA executive R.C. Buford. He concluded by reinforcing the indispensable role of personal accountability in both personal growth and professional development, which would be further explored by guest speaker Jocko Willink. Throughout his talk, Mark's insights painted a picture of the multi-faceted nature of true success and the disciplined path to achieving it.

EPISODE RESOURCES

• https://www.truedentalsuccess.com
• Dental Success Network
• Subscribe to The Dentalpreneur Podcast