Financial Flossing

Have you ever wondered what goes on behind the scenes when a dentist decides to sell their private practice? Welcome to another episode of Financial Flossing, where we unravel the intricacies of dental practice transitions. Today's guest is Todd Blackmar, a transition consultant at Bridgeway Practice Transitions. Join us as we delve into dental practice transitions and gain insights that could shape your journey. . Ross Brannon candidly engages Todd Blackmar in this enlightening episode about dental practice transitions. Todd clarifies that when they talk about transitions, it's not just about change but a pivotal moment for many dentists: selling their private practices. Bridgeway Practice Transitions assists dentists in selling their private practices, paving the way for them to embark on their next chapter of life while offering new dentists a ready patient base. Key Takeaways: ✅ Understanding Dental Practice Transitions: Transitions in the dental world refer to the sale of a dental practice. Bridgeway Practice Transitions facilitates these transitions, ensuring retiring dentists exit with a nest egg while providing a head start to newcomers. ✅ The Bridgeway Approach: Bridgeway focuses on higher volume, lower-priced transactions, emphasizing that every retiring dentist deserves a smooth transition. Their mission is to treat every retiring dentist respectfully and ensure they leave with financial security. ✅ Pricing and Real Estate: Dental practices sold through Bridgeway range in price from $150,000 to several million dollars, with the added value of real estate in some cases. Including real estate makes it easier for banks to provide loans, boosting the overall value of the practice. ✅ Agreements and Transition Period: Bridgeway's agreements are simple and customized to fit individual circumstances. They aim to keep the process straightforward and efficient. The typical transition period lasts 60 to 90 days, similar to buying a house, but can vary depending on the parties involved. ✅ Patient and Staff Retention: The retention of patients and staff during a dental practice transition largely depends on how the buyer handles the process. Proper handling typically results in a high patient retention rate, while staff retention hinges on effective communication and treatment during the transition. How to Reach Todd Blackmar: You can connect with Todd Blackmar and learn more about dental practice transitions through Bridgeway Practice Transitions: Website: Bridgeway Practice Transitions LinkedIn: Todd Blackmar on LinkedIn Please take advantage of this insightful episode as we uncover the nuances of dental practice transitions with Todd Blackmar. Stay tuned for more exciting episodes of Financial Flossing, your go-to podcast for financial insights in the dental industry! #FinancialFlossing #DentalTransitions #PodcastEpisode Learn more about your ad choices. Visit megaphone.fm/adchoices

🎙️ Seeking Tax Wisdom Beyond the Ordinary 📈 Are you ready to transcend the ordinary and elevate your financial wisdom? In a world where high-income and high-net-worth individuals navigate complex financial landscapes, a guiding light emerges Matt Chancey. With over 15 years of experience in the finance industry, Matt is not your ordinary financial advisor. He's a tax reduction virtuoso, dedicated to legally reducing taxes on income and capital gains for his national clientele. 🚀 Quick Summary 🌟 In this enlightening episode of Financial Flossing, join us as we delve into the world of tax reduction with Matt Chancey. Beyond tax strategies, Matt transforms financial futures, often leading clients to comprehensive financial planning and investment management solutions. Ross and Matt discuss the unique challenges those earning above-average incomes face, the significance of choosing the right tax professional, and dive deep into the intricate tax code. Matt provides illuminating examples of highly compensated employees. He leaves us with a golden nugget of wisdom: "Be careful taking tax advice from somebody who makes less income than you pay in taxes." 📌 Key Takeaways ✅ ● Matt Chancey specializes in legally reducing taxes on high-income and high-net-worth clients' income and capital gains. ● Beyond tax reduction, Matt often leads clients toward comprehensive financial planning and investment management solutions. ● This episode explores challenges faced by individuals with above-average incomes. ● It emphasizes the importance of working with the right tax professional. ● There's a deep dive into the intricacies of the tax code and when to seek expert assistance. ● Matt provides insightful examples of highly compensated employees. ● A valuable piece of advice from Matt: "Be careful taking tax advice from somebody who makes less income than you pay in taxes." 🔗 Connect with Matt Chancey 🌐 ● Website: Matt Chancey's Website ● LinkedIn: Matt Chancey on LinkedIn Tune in to this enlightening conversation with Matt Chancey, a financial luminary in his own right, and unlock the secrets to financial success beyond the ordinary. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ever wondered what drives a dentist to sell their practice and how they choose the right buyer?" Financial Flossing with host Ross Brannon and features guest Sharmyn Long Olivares from Wingspan Transitions. With over 30 years of experience in dentistry, starting as an RDA at 15 and then becoming an RDH by 19, Sharmyn has been a pivotal figure in the dental industry, especially in practice transitions. Key Takeaways: ✔️ Legacy Over Profit: Sharmyn explains why many dentists prefer selling to private buyers, focusing on their practice's legacy and patient care. ✔️ Seller Motivations: Different motivations between dentists selling to DSOs and private buyers are highlighted, emphasizing control and passion for dentistry. ✔️ Market Trends: Recent increase in transactions and rising practice prices in the private buyer market. ✔️ Maintaining Performance: The importance of keeping dental practices high-performing during the sale process. ✔️ Strategic Location Choices: Sharmyn advises on the benefits of choosing practice locations outside high-cost areas.  Tune in for more insightful episodes of Financial Flossing with Ross Brannon. Visit the website: https://wingspantransitions.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

What's the secret to ethical sales success in the dental industry? Join host Ross Brannon on the "Financial Flossing" podcast for an insightful exploration with our guest, Greg Nanigian. In this episode, Greg Nanigian, a seasoned international Sales and Case Acceptance Trainer in the dental industry, sheds light on the importance of ethical sales practices and case acceptance. 🎙️ Guest Bio: Greg Nanigian, with a remarkable 37-year career, is an expert in enhancing sales and case acceptance skills within the dental sector. He strongly advocates ethical sales, emphasizing honesty and nurturing long-term client relationships. Greg's approach prioritizes understanding clients' needs and budgets before proposing solutions, creating win-win scenarios that drive organizational growth. 🎙️ Summary: In this episode of "Financial Flossing," Greg Nanigian's insights take center stage as we explore ethical sales and case acceptance in the dental industry. We'll uncover key takeaways to empower dental professionals to succeed in this critical aspect of their practice. 🟢 Key Takeaways: 🟢 Ethical sales practices redefine the role of salespeople in the dental industry, emphasizing honesty and cultivating long-term client relationships. 🟢 Effective communication, including using models like DISC, can enhance sales effectiveness and strengthen client rapport. 🟢 Understanding emotional factors like pain and fear is pivotal in increasing case acceptance rates. 🟢 Balancing ethical sales with financial considerations requires offering comprehensive care while respecting patients' budgets. To contact Greg, you can call 617-338-0993 or email greg@gnatraining.com or schedule a 15 Zoom call at this link: https://calendly.com/greg-nanigian/zoom-call-with-greg-15-mins-u Learn more about your ad choices. Visit megaphone.fm/adchoices

Have you ever wondered if your money could work harder than you? 💼🚀 Join Ross Brannon as he explores The Shred Method with Adam Carroll, revealing how to maximize your income efficiency. 💸 Dive into this compelling episode of Financial Flossing, where Ross Brannon and financial strategist Adam Carroll dissect The Shred Method, a revolutionary approach to income efficiency for the discerning high earner. ✨ Key Takeaways: ✅ Proactive Financial Autonomy: The Shred Method provides a proactive route to financial autonomy, especially for those with larger incomes. ✅ Innovative Equity Growth: Carroll’s strategies, such as the Australian Mortgage strategy, offer a novel way to increase equity and income simultaneously. ✅ Mortgage Recasting Benefits: Implementing mortgage recasting could mean lower monthly payments and faster debt clearance. ✅ Debt Repayment Acceleration: The method isn't just about saving but also efficiently channeling funds to pay off debts like student loans more rapidly. ✅ Discipline and Perspective Shift: Success with The Shred Method hinges on solid financial discipline and a willingness to look beyond traditional banking practices. ✅ Complementary Investment Strategy: It serves as a supplement to market investments, providing a holistic approach to enhancing personal wealth. 🔓 Unlock the secrets to financial efficiency with Ross Brannon and Adam Carroll in this must-listen episode of Financial Flossing. Discover how The Shred Method can revolutionize your approach to income management and set you on a path to faster financial success. 🌟🛣️ Social Media Channels: IG: www.instagram.com/Adam.Carroll IG: www.instagram.com/The.ShredMethod Li: https://www.linkedin.com/in/adamcarrollspeaks/ YT: https://www.youtube.com/adamcarrollspeaker Find out more information about The Shred Method: www.TheShredMethod.com Find out more information about Adam: www.AdamCarroll.info Adam Phone: 515-991-7146Broke Busted & Disgusted Documentary: www.brokebusteddisgusted.com Adam’s TED talks: When Money Isn’t Real: The $10,000 Experiment – https://youtu.be/_VB39Jo8mAQ The Changing Economic Realities of College – https://youtu.be/PpN8KlnU7Fw Adam’s Books: The Build a Bigger Life Manifesto: https://amzn.to/3OexQj0 Winning The Money Game: https://amzn.to/44Kg26g Mastery of Money for Students: https://amzn.to/44TKtY0 30 Days To $1K: https://amzn.to/3QrwHai Learn more about your ad choices. Visit megaphone.fm/adchoices

How Can Dental Professionals Boost Their Practice Through Case Acceptance? Eric Vickery brings a Business Administration background and over a decade's experience in the dental industry. Having managed and coached dental practices, Eric's expertise in case acceptance, the DISC personality profile, and patient relationship management have been instrumental for numerous practices nationwide. 🔍 Key Takeaways: ✅ Understanding the pivotal role of "case acceptance" in growing a dental practice. ✅ Ethical selling techniques that prioritize client comfort. ✅ Deciphering patient needs and anticipating their decisions. ✅ Effective tools to monitor case acceptance and crucial performance metrics. ✅ Real-world tips from Eric’s clients on clinching deals successfully. Connect with Eric: WEBSITE: www.allstardentalacademy.com WEBSITE: https://www.vickerydentalconsulting.com/ YOUTUBE: https://www.youtube.com/watch?v=RFG2apqN27E&list=PLuwgpB6Hdf-bJABlkxgcrBBw4pAieP5Xz FACEBOOK: https://www.facebook.com/VickeryCoachingServices/ INSTAGRAM: https://www.instagram.com/vickeryconsulting/ Learn more about your ad choices. Visit megaphone.fm/adchoices

"How can authentic storytelling during interviews and a commitment to complete case acceptance revolutionize dental operations and patient management?" This question is answered in episode 120 of the Financial Flossing Podcast with host Ross Brannon and guest Caitlin Mendez, associated with Dental Success Network. Caitlin Mendez shares her unique hiring approach and the challenges and solutions surrounding it. Caitlin emphasizes the importance of genuine interviews where potential employees tell true stories about their experiences. This way, one can gauge if the applicant aligns with the company's culture and values. She stresses the significance of past behavior as an indicator of future actions. Caitlin also touched upon the concept of complete case acceptance in dental operations. She highlighted the value in getting patients to commit to their entire treatment from day one, ensuring that schedules are filled, and cases aren't dropped halfway. Key Takeaways: ✅ Hiring is an imperfect art – Even experts like Jack Welch admitted to having a 70% success rate in hiring decisions. ✅ Past behavior as a future predictor – Past experiences and actions often give a glimpse into how a person might act in future situations. ✅ Complete case acceptance is crucial – Getting patients to commit to their entire treatment from the beginning ensures that they turn up for all appointments, leading to consistent revenue and better patient management. ✅ Clarity and Scorecards – Caitlin believes in providing clear expectations to team members. She uses scorecards that list 3-5 essential tasks. If these are achieved, the employee knows they are succeeding. How to Reach Caitlin: For more information or to get in touch, one can email her at coach@dentalsuccessnetwork.com Learn more about your ad choices. Visit megaphone.fm/adchoices

How can dental practices balance modern online techniques and traditional marketing to maximize patient engagement in a digital-first world? On this episode of Financial Flossing with host Ross Brannon with guest Marc Heffner, the founding partner of DSO Marketing Xcelerator™ and a seasoned Fractional CMO in the DSO sector. With a history of 25 years in marketing, he's navigated the emerging challenges of digital marketing and the time-tested strategies of traditional advertising. In this enlightening episode of Financial Flossing, Ross Brannon delves into a conversation with Marc Heffner. Marc shares the significance of blending innovative digital strategies with the proven methods of traditional mailers in the dental marketing landscape. Key Takeaways: ✅ The pivotal role of integrating digital methods with traditional mailers in dental marketing. ✅ The essence of top-of-mind awareness (TOMA) in sustaining and expanding the patient base. ✅ Embracing a comprehensive marketing approach, marrying old-school wisdom with new-age tactics. ✅ Insights into the evolving marketing terrain and strategies for dental practices to stay ahead. ✅ The three crucial stages of the buying cycle and tailoring communication to resonate with each. Reach out to Marc: Website: DSOMarketingX.com Email: MarcHeffner927@gmail.com Phone: 714-270-9205 Learn more about your ad choices. Visit megaphone.fm/adchoices

Are you a dentist considering selling your practice, or perhaps an investor eyeing opportunities in the dental industry? On episode 118 of the Financial Flossing Podcast, Ross Brannon dives deep into dental practice sales and acquisitions with guest John Wlodarek. They explore private equity trends, cash at close percentages, DSO preferences, and the importance of cultural fit in dental practice transactions. Discover valuable insights for dentists looking to sell and investors seeking opportunities in the dental industry. Key Takeaways: ✅ Private Equity Trends: Private equity companies in the dental industry actively seek exits, potentially offering higher multiples as they approach the end of their investment cycle. ✅ Cash at Close: The ideal percentage of cash at close in dental transactions is typically within the 60% to 70% range, balancing liquidity and valuation. ✅ DSO Preferences: Dental Service Organizations (DSOs) often seek practices with over $1.5 million in collections, multiple doctors, and multiple locations for attractive acquisitions. ✅ Market Dynamics: Dentists should understand the private equity lifecycle and its impact on buyers to make informed decisions. ✅ Cultural Fit: Matching the culture of a DSO with that of the selling dentist is crucial for long-term success, sometimes outweighing a slightly less lucrative deal. ✅ Long-Term Perspective: Dentists should consider the long-term benefits of their decisions, as selling a practice can set the stage for future financial growth. ✅ Realistic Projections: Evaluating the realism of financial projections in equity roll-ups requires scrutiny and may benefit from professional guidance. ✅ Avoiding Pitfalls: Dentists should avoid relying solely on profit and loss statements (P&Ls) and instead dig into the general ledger to comprehensively understand their practice's value. How to reach John Wlodarek: 📧 Email: John@JW.Dental ☎️ Phone: 617-939-8292 🌐 Website: JW.Dental www.jw.dental Learn more about your ad choices. Visit megaphone.fm/adchoices

How could adding one root canal procedure to your weekly practice significantly increase your revenue? Today, on Financial Flossing with host Ross Brannon, we dive deep into dentistry with our esteemed guest, Dr. Aaron Nicholas. Dr. Nicholas, a seasoned dentist with decades of hands-on experience, is the visionary behind MondayMorningDentistry.com, where he shares insights to help fellow dental professionals elevate their practices. Ross and Dr. Nicholas explore the transformative impact of incorporating root canal procedures into general dental practice in this episode. They discuss the tangible benefits, the necessary mindset shifts, and the efficiency of the one-hour model for root canals. Additionally, they touch upon the advantages of comprehensive dental treatment plans and introduce the listeners to the 90-day accelerator for young dentists. 5 Key Takeaways: ✅ Revenue Boost: Performing one root canal, build-up, and crown procedure weekly can add an extra $160,000 to a fee-for-service practice annually. ✅ Time Efficiency: Dr. Nicholas emphasizes a one-hour model for a root canal, build-up, and crown, showcasing streamlined processes. ✅ Beyond Referrals: General dentists can significantly enhance profitability by retaining procedures in-house rather than referring them out. ✅ Who's It For? MondayMorningDentistry's courses cater to both beginners and those who've faced challenges with root canals in the past. ✅ Comprehensive Care: Adopting a complete care approach results in more extensive cases and increased work, boosting revenue and enhanced patient care. Connect with Dr. Aaron Nicholas: Website: MondayMorningDentistry.com Direct Contact: 410-207-3527 #Dentistry #RootCanal #FinancialFlossing Learn more about your ad choices. Visit megaphone.fm/adchoices

🎙️ Podcast Episode: Building a Sellable Dental Practice and Diversifying Investments with Dr. Deren Flesher and Dr. Chris Green 🦷💼 🔍 Question: What is the key to building a sellable dental practice? 🔑 Key Takeaways: 1️⃣ Building a sellable dental practice involves considering factors like office size, multiple operators, and a name not tied to the owner. 2️⃣ Diversifying investments outside of dentistry is crucial for generating passive income and financial security. 3️⃣ Alternative investments can provide opportunities for higher returns, but due diligence and risk mitigation are essential. 📝 Summary: In this episode of Financial Flossing, host Ross Brannon interviews Dr. Deren Flescher and Dr. Chris Green, founders of Legacy Point, a group formed after selling their dental practices. They share insights on building a sellable dental practice, emphasizing the importance of office size, having multiple operators, and avoiding a name tied to the owner. By implementing these strategies, dentists can increase the value of their practice and attract potential buyers. The conversation then shifts to the significance of diversifying investments beyond dentistry. Dr. Flesher and Dr. Green highlight the benefits of generating passive income through alternative assets, such as real estate, stocks, and businesses. They acknowledge the skepticism surrounding these investments but stress the need for thorough due diligence and risk management. By diversifying across different asset classes, dentists can create a more stable financial foundation and reduce reliance solely on their dental practice. To learn more about Legacy Point and its services, listeners can visit their website or contact them directly. Dr. Flesher and Dr. Green are passionate about helping dentists achieve financial freedom and are dedicated to sharing their knowledge and experiences. 🔗 Learn more about Legacy Point: [Website Link] #DentalPractice #SellablePractice #PassiveIncome #AlternativeInvestments #Diversification #FinancialFreedom #RiskManagement #LegacyPoint #FinancialFlossingPodcast Learn more about your ad choices. Visit megaphone.fm/adchoices

Have you ever wondered about the journey of a dentist turned dental coach? In this episode of the Financial Flossing podcast, we have a special guest, Dr. Kory Wegner, CEO of Coaching for Success LLC, who shares his insightful story. 🦷 Dr. Wegner highlights the lack of business education that dentists typically receive, which often leads to challenges in running their practices effectively. He emphasizes seeking outside help and guidance to improve their businesses. 💼 One of the key challenges dentists face is communication and alignment with their teams. Dr. Wegner discusses the significance of effective communication and involving patients in decision-making. Dentists can build trust and create a positive patient experience by doing so. 🗣️ Sales also play a crucial role in dentistry, and Dr. Wegner sheds light on this. He shares valuable insights on how dentists can approach sales patient-centric, focusing on building relationships and providing solutions. 💰 The episode also delves into different types of dental practice ownership and the importance of setting goals and having a well-defined plan. Dr. Wegner emphasizes the need for dentists to invest in their businesses and themselves, ensuring long-term success. 💪 However, he cautions against entering unrelated industries without proper expertise. Staying focused and leveraging one's knowledge and experience within the dental field is essential. 🚫 In summary, this episode of the Financial Flossing Podcast with guest Dr. Kory Wegner provides valuable insights for dentists looking to improve their practices. There's plenty to learn and implement, from effective communication and patient involvement to sales strategies and business investment. 📚 So, grab your headphones and tune in to this enlightening conversation! 🎧✨ Connect with Dr Wegner: https://coachingforsuccess.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Ever wondered what it takes to evolve and excel in the ever-changing world of dentistry? Today, on Financial Flossing with host Ross Brannon, the guest, Dr. Tom Reed, highlights this intricate dance between profession, passion, and progress. Dr. Tom Reed, a Northwestern University Dental School graduate, has been a pillar in dentistry since 1995. With acquisitions of six practices in Metro Denver and successful transitions of numerous associateships, Reed blends his passion for dentistry with sports coaching in his notable endeavor, Dynamic Dental Ascension. Key Takeaways: ✅ Lifestyle vs. Business: Dentists can opt for a lifestyle practice with income limits or expand as business-savvy professionals. ✅ Relational Nature: Dentistry deeply hinges on trust and intimate patient relationships. ✅ Brand Identity: Every dental practice has a distinct identity in the market, knowingly or unknowingly. ✅ Tech Evolution: Modern technology is reshaping dentistry, offering enhanced services. ✅ Dentistry is Trust: The profession thrives on trust, with many patients coming via referrals. ✅ Adaptable Growth: Dr. Reed underscores the importance of evolving and adapting in a long-standing dental career. Reach Dr. Tom Reed: Practice: City Center Dental Group Coaching site: Dynamic Dental Ascension Socials: @TCReed05 on Facebook, @thomasreeddds on Instagram, and LinkedIn. About Dr. Reed: Northwestern graduate Dr. Tom Reed, with multiple practice acquisitions in Metro Denver, combines dentistry with sports coaching at Dynamic Dental Ascension. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this enlightening episode, Laurie Barkman, a seasoned business transition strategist, discusses the dynamics of selling a business, the ideal time to sell, and the significance of expanding one's identity beyond one's business. Key Takeaways: ➡️ Sell when your business is on an upward growth trajectory. ➡️ It's challenging to time the market and focus on business trajectory and past performance. ➡️ Consider life stages, not just age, when contemplating selling. ➡️ Reverse-engineer your exit by thinking ahead and working backward. ➡️ The legacy left for stakeholders is crucial when selling a business. ➡️ Understand the value of your business and establish a time horizon for the transition. ➡️ Commit to the process, clarify personal goals, and identify transition drivers. Laurie Barkman's Bio: Laurie Barkman is the seasoned owner of The Business Transition Sherpa, where she assists business owners in navigating the complexities of transitioning and selling their businesses. With extensive experience in the field, Laurie offers strategic insights, helping business owners maximize value and ensure successful exits. Her holistic approach is centered on expanding one's identity beyond just their business. Contact Information: Website: The Business Transition Sherpa LinkedIn: Laurie Barkman Email: lbarkman@smalldotbig.com Articles for Show Notes: Why Americans Over 60 Never Want to Retire Learn more about your ad choices. Visit megaphone.fm/adchoices

📌 Guest Bio: Ashaunte Trent, with over 20 years of experience in the dental industry, is renowned for guiding dentists to 7-figure success in just 90 days. Through her 7 Figure Dental Society, she offers transformative solutions to common challenges in the dental world. Combining her vast operational expertise with a hands-on coaching style, Ashaunte assists dental professionals in achieving financial milestones and optimizing their practices for efficiency and personal fulfillment. In this enlightening episode, Ross Brannon dives deep with Ashaunte Trent into dental entrepreneurship. Together, they unpack the hurdles many dentists face, from stagnant patient growth to team management issues and the strategies to overcome them. Ashaunte sheds light on her proven methodologies that have transformed many dental practices, reiterating the importance of financial fluency in any profession. Key Takeaways: ✅ Dental practices face unique financial challenges that differ from other industries. ✅ Addressing stagnant patient counts requires innovative marketing and understanding one's local community. ✅ Team management and effective communication can greatly influence a practice's bottom line. ✅ Ashaunte's 7 Figure Dental Society is a haven for dentists looking to expand their financial horizons. ✅ Financial success in the dental industry goes beyond increasing patient counts; it's about efficient operations and personal well-being. ✅ Ashaunte's success stories, including a client who scaled from 110K to 190K in three months, exemplify the potential of her strategies. Be sure to tune in to Ashaunte’s podcast Dentistry Exposed https://dentistry-exposed.captivate.fm/ Learn more about your ad choices. Visit megaphone.fm/adchoices

🎙️ Ready to take your dental practice to the next level? 🏆 Curious about the secrets of proactive tax planning and ROI calculation for practice owners? 🎙️On this episode of Financial Flossing with Ross Brannon and guest Marcus Dillon, CPA, Certified Public Accountant, and the founder of Dillon Business Advisors, to discuss essential strategies for dental practice owners to maximize their financial success and overcome challenges. Marcus shares invaluable insights on proactive tax planning, ROI calculation, and effective practice ownership. Discover how to transition from owning a job to building a successful dental business and plan for a fulfilling retirement. 🏢💰🚀🏝️ 🔑 Key Takeaways: ✅ Transition from Job to Business: Learn how to transform from owning a job to running a thriving dental practice with a long-term vision. 🏢✨ ✅ Calculate ROI for Investments: Gain expert tips on calculating ROI for associates and equipment to make informed financial decisions. 💼💰 ✅ Embrace Growth and Overcome Challenges: Find out how to avoid stagnation, embrace growth, and adapt to market conditions for continued success. 🚀📈 ✅ Plan for Fulfilling Retirement: Hear advice on planning fulfilling retirement activities to overcome boredom and ensure a rewarding post-practice life. 🏝️🎯 Tune in to gain essential financial insights and elevate your dental practice to new heights! 🎧💡 #FinancialFlossing #DentalPracticeOwners #ProactiveTaxPlanning #ROICalculation #BusinessGrowth #PracticeOwnership #DillonBusinessAdvisors #PodcastInsights #DentalIndustry #RetirementPlanning Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of the Financial Flossing, host Ross Brannon and guest expert and financial advisor Deren Flesher discuss the fundamentals of budgeting and saving. They delve into the importance of creating a solid financial plan, avoiding common budgeting mistakes, and staying motivated toward financial success. Whether new to budgeting or looking to improve your saving strategies, this conversation will provide valuable insights and practical tips to achieve your financial goals. Key Takeaways: 🟢 Understanding your cash flow is essential for effective budgeting and saving. Analyze your income and expenses to see where your money is going and identify areas to cut back. 🟢 Set realistic and achievable financial goals. Whether it's building an emergency fund, paying off debt, or saving for a big purchase, having clear objectives will help you stay focused. 🟢 Be mindful of unnecessary expenses and prioritize your spending. Distinguish between essential and discretionary spending, and find ways to reduce non-essential costs. 🟢 Consistency is critical. Stick to your budgeting plan in the long run, even if you encounter obstacles or setbacks. 🟢 Don't be afraid to seek professional advice. A financial advisor can provide personalized guidance and assist you in creating a tailored financial plan. 🟢 Track your progress and celebrate milestones. Regularly review your financial situation and celebrate your achievements in your journey toward financial security. More about Deren Flesher: Dr. Deren Flesher is a University of Oklahoma College of Dentistry graduate. He received his undergraduate degree from Oklahoma State University. Dr. Flesher is a longtime Oklahoma resident and a Duncan High School graduate in Duncan, Oklahoma. Dr. Flesher often provides dental care at events like Oklahoma Mission of Mercy and through organizations such as Good Shepherd Ministries in Oklahoma City. In addition to local volunteerism, Dr. Flesher has also been on international mission trips, donating dentistry to those in need abroad. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Financial Flossing, host Ross Brannon interviews guest David Harris, an expert in dental embezzlement and CEO of Prosperident. They discuss the prevalence of embezzlement in dental practices, standard methods used by embezzlers, and steps dentists can take to prevent and detect embezzlement. David shares insights into the behavioral markers of embezzlers, the importance of hiring practices, the role of forensic investigations, and practical tips for dentists to safeguard their practices. Key Takeaways: ✅ Embezzlement is a significant issue in dental practices, with a 70% chance of occurrence. ✅ Common methods of embezzlement include manipulating financial records, diverting payments, and stealing tangible assets like dental supplies or gold restorations. ✅ Behavioral markers of embezzlers include a desire for alone time, conspicuous display of honesty, cutting ethical corners, and a different thought process regarding territoriality. ✅ Dentists should implement stringent hiring practices, including criminal background checks, drug testing, and reference checks. ✅ Regular monitoring is crucial to detect embezzlement, such as reviewing daily reports from practice management software and comparing collections to deposits. ✅ Dentists should better build relationships with their staff to understand their personal situations and potential red flags. ✅ If embezzlement is suspected, it is essential to seek professional help from experts in dental forensic investigation. ✅ Prosperident provides forensic investigation services and can be contacted at 888-398-2327 or through their website, prosperident.com. More about David: Forensic Accountant, Certified Fraud Examiner, Certified in Financial Forensics, Licensed Private Investigator, CPA. Entertaining and in-demand speaker. Keynote presentation: "How To Outsmart An Embezzler." Expert witness in fraud and embezzlement against dentists and dental specialists. A published author and expert on the subject of embezzlement in dental offices. Learn more about your ad choices. Visit megaphone.fm/adchoices

Unlock the secrets to transforming your dental practice from a job to a thriving business as host Ross Brannon of the Financial Flossing Podcast dives deep into an inspiring conversation with Dr. Jason Tanoory, a highly accomplished dentist and owner of Finger Lakes Dental Care. Driven by his passion for transforming dental practices into thriving businesses, Jason shares his journey and valuable insights. They discuss the importance of growing people, maintaining culture, and overcoming challenges in scaling a dental practice. 🟢 Key Takeaways: ✅ It takes a unique skill set and mindset to transition from owning a job to building a successful business. ✅ Growing people and building a team is a driving force behind Jason's decision to expand his organization. ✅ Lack of clarity and commitment to growth can hinder the transition from owning a job to building a business. ✅ Growing from owning a job to building a business requires a focus on developing strong leadership skills and embracing servant leadership. ✅ The challenge lies in managing and growing people, but it's essential for building an organization founded on great culture and great people. ✅ Going from owning a job to building a business requires overcoming the fear of confrontation and getting out of your comfort zone. ✅ Personal development, training, and creating a clear understanding of expectations are crucial in growing people and maintaining a positive work environment. ✅ The biggest challenge in growing a business is managing and maintaining interpersonal relationships within the organization. ✅ While scaling to multiple practices can be challenging, with effective systems, processes, and leadership in place, it is possible to maintain quality of care and culture. ✅ Selling to a DSO is not the only option; having a vision and purpose that drives you beyond financial considerations is essential. Get in touch with Dr Jason Tanoory at https://fingerlakesdental.com/about/doctors/dr-jason-tanoory/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to the Financial Flossing podcast with your host, Ross Brannon. In this episode, Ross is joined by Addison Killeen, a serial entrepreneur, and co-founder of the Dental Success Network. In this episode, Addison shares his experiences owning and selling dental practices and starting his own companies. He provides valuable insights into the challenges he faced and the decisions he made to grow his dental practice successfully. Key Takeaways: ✅ Importance of having aligned partners and hiring the right people ✅ The Dental Success Network is a valuable community for dental professionals ✅ Importance of Aligned Partners and Hiring the Right People: Addison emphasizes the significance of having a team with the same vision and values. ✅ How crucial it is for the success of any business to have aligned partners and employees who contribute to a positive and productive work environment. Recommendations: Addison's podcast: Tune in to Addison's podcast, where he shares valuable insights and advice for dental professionals. Listen to The Daily Dental Podcast https://podcasts.apple.com/us/podcast/daily-dental-podcast/id1672433531 Addison recommends this podcast for additional valuable information on excelling in the dental field. Connect with Dr. Addison Killeen Author of the number-one bestseller, "By the Numbers." Speaker on dentistry and beginning dental careers Co-founder and partner in Dental Success Network Black Belt Coach in Dental Success Network's Mastermind program Learn more about your ad choices. Visit megaphone.fm/adchoices