5 reasons your associate isn't producing enough
Bulletproof Dental Practice
The Bulletproof Dental Podcast Episode 423 HOSTS: and DESCRIPTION In this engaging conversation, Peter Boulden and Craig discuss the challenges associates face in dental practices, the importance of mentorship, and the impact of economic factors on dentistry. They reflect on the legacy of Dr. Bruce Baird, explore the future of AI in dentistry, and emphasize the need for effective communication and same-day dentistry to enhance productivity. The discussion also touches on overcoming money mindset issues and the necessity of strategic planning for dental practices. TAKEAWAYS Associates need...
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New Year Reflections and Goals
Bulletproof Dental Practice
The Bulletproof Dental Podcast Episode 422 HOSTS: and DESCRIPTION In this episode of the Bulletproof Dental Practice Podcast, Craig Spodak and Peter Boulden discuss the significance of the New Year as a time for reflection and goal setting. They emphasize the importance of strategic planning in dentistry, highlighting how the urgent often overshadows the important tasks that lead to growth. The conversation explores the allure of production over strategic thinking, the cost of never stepping back from clinical work, and the necessity of creating a sustainable practice. They also touch on the...
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5 Things We've Learned in 45 years of Dental Marketing
Bulletproof Dental Practice
The Bulletproof Dental Podcast Episode 421 HOSTS: and DESCRIPTION In this conversation, Peter Boulden and Craig discuss the evolution of dental marketing over the years, emphasizing the importance of creating joy and hope in marketing strategies. They explore the significance of understanding patient psychology, the value of existing patients, and the need to sell benefits rather than procedures. The discussion also touches on the role of AI in dentistry and the necessity of having a clear process for patient care. Ultimately, they highlight the psychological aspects of success and the...
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Local Search Ranking Factors report for 2026 with Darren Shaw
Bulletproof Dental Practice
The Bulletproof Dental Podcast Episode 420 HOSTS: and GUEST: DESCRIPTION In this episode, Peter Boulden and Dr. Craig Spodak welcome Dr. Darren Shaw, a leading expert in local SEO, to discuss the latest trends and strategies for optimizing local search for dental practices. They explore the importance of Google Business Profiles, the impact of reviews, and the emerging role of AI in search. Darren shares insights from the White Spark Local Search Ranking Factor Survey, emphasizing key factors that influence local rankings, including primary categories, proximity, and behavioral...
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3 Skills a Dental Entrepreneur Needs
Bulletproof Dental Practice
The Bulletproof Dental Podcast Episode 419 HOSTS: and DESCRIPTION In this conversation, Peter Boulden and Craig discuss the essential skills and mindset required for dental entrepreneurs. They emphasize the importance of projecting confidence, understanding business metrics, and becoming a multiplier in leadership roles. The discussion also touches on the concept of clarity in goals and the distinction between signal and noise in the entrepreneurial journey. The speakers share insights from their experiences and provide actionable advice for dental professionals looking to thrive in their...
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Would We Want Our Kids to Become Dentists?
Bulletproof Dental Practice
The Bulletproof Dental Podcast Episode 418 HOSTS: and DESCRIPTION In this episode of the Bulletproof Dental Practice Podcast, Dr. Craig Spodak and Peter Boulden discuss the evolving landscape of dentistry, including the implications of AI, the financial realities of dental school, and the rising importance of dental hygiene. They explore the skills necessary for success in dental business ownership, the significance of mentorship, and the challenges faced by new dentists. The conversation emphasizes the need for future dentists to understand the business side of their profession and the...
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Getting Out of the Chair
Bulletproof Dental Practice
The Bulletproof Dental Podcast Episode 417 HOSTS: and GUEST: DESCRIPTION In this episode of The Extraction podcast, Dr. Peter Bolden shares his insights on dental practice growth, focusing on staff engagement, effective systems, and the transition from clinical work to business management. He emphasizes the importance of clarity in career goals, the need for robust systems in practice management, and the value of gamification in team engagement. Dr. Bolden also discusses the significance of delegation and finding one's zone of genius to achieve a successful dental practice. TAKEAWAYS ...
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The Truth About Dental Entrepreneurship
Bulletproof Dental Practice
The Bulletproof Dental Podcast Episode 416 HOSTS: and GUESTS: and DESCRIPTION In this conversation, the hosts and guests discuss the realities of success in dentistry, the impact of social media on expectations, and the importance of clarity and fulfillment in one's career. They explore the challenges of entrepreneurship, the dangers of comparison, and the significance of finding inspiration rather than envy. The discussion also touches on burnout, the lost decade many dentists experience, and the need for a supportive community. Ultimately, the conversation emphasizes the importance of...
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Don't start planning your exit too late!
Bulletproof Dental Practice
The Bulletproof Dental Podcast Episode 415 HOSTS: and DESCRIPTION In this episode, Peter Boulden and Craig discuss the critical importance of succession planning for dentists, emphasizing that every dentist will eventually need to consider their exit strategy. They explore various pathways for transitioning out of practice, including selling outright, forming partnerships, or selling to private equity. The conversation highlights the significance of understanding practice value, the emotional aspects of selling, and common mistakes to avoid in the planning process. The hosts encourage...
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Creating A Strategic / Autonomous Team!
Bulletproof Dental Practice
The Bulletproof Dental Podcast Episode 414 HOSTS: and DESCRIPTION In this conversation, Peter Boulden and Craig discuss the importance of creating a strategic and autonomous team within an organization. They explore various leadership strategies, the significance of believing in team members, and the role of technology in problem-solving. The discussion emphasizes the need for resourcefulness, effective meeting structures, and the transformation of guilt into gratitude as leaders step back from day-to-day operations. Ultimately, they highlight the importance of scaling operations to better...
info_outlineThe Bulletproof Dental Podcast Episode 415
HOSTS: Dr. Peter Boulden and Dr. Craig Spodak
DESCRIPTION
In this episode, Peter Boulden and Craig discuss the critical importance of succession planning for dentists, emphasizing that every dentist will eventually need to consider their exit strategy. They explore various pathways for transitioning out of practice, including selling outright, forming partnerships, or selling to private equity. The conversation highlights the significance of understanding practice value, the emotional aspects of selling, and common mistakes to avoid in the planning process. The hosts encourage proactive planning to maximize the value of a dental practice and ensure a smooth transition.
TAKEAWAYS
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Succession planning is essential for all dentists.
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Timing is crucial in the succession planning process.
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The value of a practice is often tied to its goodwill and assets.
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Selling a practice without proper planning can lead to significant losses.
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Partnerships can provide a smoother transition and better value.
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Private equity can offer liquidity but comes with risks.
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Emotional states can cloud decision-making in practice transitions.
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Clear financial records are vital for successful transitions.
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Investing in practice growth can enhance future sale value.
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Planning for succession should start early in a dentist's career.
CHAPTERS
00:00 The Importance of Succession Planning
03:39 Understanding Practice Value and Transition Risks
06:31 Exploring Exit Pathways for Dentists
10:21 The Partnership Path: A Long-Term Strategy
14:43 Private Equity: Pros and Cons
20:34 Navigating the Complexities of Selling to PE
27:46 Understanding Liquidity Events and Their Impact
30:18 Optimizing for Different Business Paths
32:52 Investing for Growth and Value Creation
35:24 Avoiding Common Mistakes in Dentistry
37:09 The Importance of Planning for the Future
43:36 Building Successful Partnerships in Dentistry
50:22 Final Thoughts and Future Endeavors
REFERENCES