We’ve all heard terrifying stories about fraud. Something like 87% of all dental practices will at some point in their history get ripped off by their bookkeeper or somebody internally. How can you reduce your risk and losses? Doug Fettig is with us today to give great insight about fraud in your dental practice.
Doug Fettig is a CPA who has spoken at numerous dental seminars, academies, study groups, and vendor forums around the country and is known for his energetic, engaging, and entertaining speaking style. His insight allows him to effectively communicate business, management, and leadership concepts. As a dental business advisor, he is adept at collaborating with dental practices to help dentists grow their practices and increase their profitability.
Today we’re talking to Adam Lean about three ways to get cash for your practice and why they may not all be ideal. Cashflow is the lifeblood of your business. You can have profits and not have cash flow and go out of business. Half of all businesses fail because they run out of cash flow.
Adam Lean is the founder of the CFO Project. Adam became an accountant immediately after college, but quickly realized accounting was NOT his calling. He left the 9-5 world to launch and eCommerce company, but after a few years, something felt off. Sales were up, the business was growing, but the numbers in his bank account just didn’t tell the same story. Even as an accountant, Adam was frustrated by the financials, leaving him completely overwhelmed as a business owner. He set out to learn exactly what business owners should be focusing on, and eventually founded the CFO Project. Today he helps small business owners determine what is and isn’t working in their businesses, by guiding them through a proven system to ensure their business is financially solid and more profitable- without the emotional overwhelm.
Today we’re talking with Stephen Strecker and Jeremy Keck about commercial real estate ownership for dentists. Is commercial real estate ownership right for you? Why would it be right? Why would it be wrong?
Stephen Strecker is the President of Tower Realty Partners. Working in the healthcare real estate industry for the last several years, Stephen has worked with hundreds of healthcare professionals. From startups to relocations, and expansions to additional offices, Stephen ensures the lease or purchase is set up correctly and believes this is the foundation for successful practices.
As the CEO of Tower, Jeremy Keck brings 20 years of finance and real estate experience. He has held numerous sales, leadership, and executive team roles with Bank of America, Carr Healthcare Realty, and LendingClub.
Today we are talking with Tim McNeely on Family Office Insights and the idea of how to become a sophisticated advanced family office with great wealth strategies. And, how they’re using their family offices to grow and protect that wealth.
Tim is CEO of The LifeStone Companies and he knows dentists. Tim is a recognized thought leader in the dental industry, a regular speaker for dental societies, and a contributing author for popular dental publications. He was asked to contribute the forward to a special edition of: “Becoming Seriously Wealthy: How to Harness the Strategies of The Super Rich and Ultra Wealth Business Owners.”
The Best New Year’s resolution is to never make another one. They rarely work and tying them to the New Year ensures they never will. So let’s talk about that. One researcher says 88% of New Year’s resolutions fail. Why is that? Tune in today while we dive into the importance of never making another New Years Resolution again.
Here’s the real skinny – Gallup says a whopping 70% of people are disengaged from their work they do. That’s critical because the practices with high engagement enjoy much higher net profit margins, much higher productivity per team member and exponentially lower staff turnover. What if you had 100% engagement, not 30%?
Pat Rigsby is a dad, husband, business coach, entrepreneur & author. He’s built over 25 different businesses, including 2 Entrepreneur Franchise 500 award winning franchises. Today he coaches entrepreneurs to create their Ideal Business, one that allows them to earn more, have a greater impact, and enjoy more freedom to live the lives of their dreams. He’s here today to share his insight with you to help you build the business of your dreams, with 5 steps to scale your business without investing more time. Welcome to the show, Pat!
Today, Justin Krane is with us speaking on how to create a team of trusted advisors for your practice, and the importance of doing so. A lot of the times we think we can be a jack of all trades; we think we’re good at everything. We also don’t want to give up control in certain key areas. However, doing so with a trusted advisor can bring a lot of clarity on what needs to be done in your practice.
Justin Krane is a Certified Financial Planner ™ Professional and Fractional CFO for business owners, with an emphasis in the dental industry. His mission is to help practice owners understand and get clarity on the money side of their business. He teaches entrepreneurs how to be strategic with their business money so that they can grow their businesses – and build a plan to fund their personal goals.
Dr. Lucas Castillo is the definition of being relentless. No matter what obstacles life threw his way, he was determined to make something of himself; to become a dentist and to open his own practice. Today he is sharing with us his journey to dentistry, and the challenges he faced along the way. Dr. Castillo is without a doubt, the most relentless dentist you’ll ever meet.
Dr. Castillo is thrilled to introduce Dental Care at Red Rock Canyon to the local community. Although he has years of experience working as a dentist, this is the first practice he’s owned and operated. He looks forward to introducing new patients to his family-friendly style of dentistry, establishing a meaningful relationship with them, and maintaining an office with a pleasant and welcoming atmosphere. Dr. Castillo absolutely loves his job and genuinely looks forward to helping his patients achieve ideal oral health.
The financial health of your practice is one of the most important aspects a practice owner needs to be aware of. The first place to start is with good bookkeeping, because that defines the entirety of the financials. Debra Robinson always recommends that a dentist or a business owner outsource their bookkeeping. When you have a practice manager, for example, that’s doing bookkeeping because they understand QuickBooks, you can lose the integrity component of the bookkeeping, because they’re not thinking like an accounting person. What are the dirty little secrets you need to know about the financial health of your practice? Debra Robinson is back today to explain more.
Debra Robinson is a true cash flow expert. For more than 10 years, her company Centennial Revenue Management has been helping dental practices and their owners achieve financial health by building a discipline of forward-looking financials and ongoing cash flow management. She’s distilled her years of experience and expertise into an easy to use Total Cash Clarity system with the mission to help businesses and their owners achieve total financial success.
Episodes featuring Chuck by himself (with no guest interviewed) will include the title along with, in the bottom of the episode image, the book that the content relates to:
MMIKYB (Making Money Is Killing Your Business)
WEAAABI (Why Employees Are ALWAYS A Bad Idea)