Podcast Episode #400: The Next Generation of the Business of Dentistry – Design Your Future by Choice – Bruce Baird
Episode #400: Dentist Freedom Blueprint Podcast
The Next Generation of the Business of Dentistry – Design Your Future by Choice – Bruce Baird
My good friend, longtime colleague, and entrepreneur in the dental space joins the show today to share valuable insight on innovation, change, and decision-making. Dr. Bruce Baird is a former military member who built a very successful dental practice from scratch after leaving the service—and has gone on to lecture across the U.S. and internationally for years. He also founded Productive Dental Academy, which has grown into a world-class educational organization, and founded Comprehensive Finance, which helps businesses do their own in-house financing.
For those who may feel stuck right now, wherever you are in dentistry and whatever you are dealing with in your business, this episode is full of inspiration and insight that will get you moving. Listen in as Bruce shares his passion for innovation and emphasizes how important it is to know what’s going on in the industry and what it means for you. He also gives some great advice about dealing with practice sales, understanding your value, how to get unstuck when things are changing so fast, and more.
Minute Markers:
1:10 – Bruce’s career path from military to dentistry and more.
3:23 – The value of being an innovator.
4:36 – Why the consolidation of dental practices into the DSO model isn’t as negative as you think—and why there’s still room for private practices.
7:22 – The importance of knowing your EBITDA and what to pay attention to when you’re getting offers for your practice.
13:20 – What you need to consider when listening to speakers, influencers, and advice-givers.
14:42 – How the current situation looks when it comes to finance and private equity.
19:55 – The role of change and what to do when you’re feeling stuck.
24:02 – What leads to true satisfaction.
26:43 – What legendary leadership looks like and why Bruce wrote a book on it.
Featured on the Show:
Dr. Bruce Baird: Website
Productive Dentist Academy
Comprehensive Finance
Legendary Leaders by Dr. Bruce Baird
P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :
In this episode, we finish up the second part of my interview with Rob Swanson and his eight rules of investing. (If you haven’t listened to part 1, be sure to go back and give that a listen before jumping into this one.) Today, we pick up where we left off, covering rules four through eight and talking about everything from decision-making to cash flow and risk reduction.
Listen in as Rob shares his incredible insight and experience in real estate and investing to give us a few rules that help make our decisions and investments more solid. You will hear about the importance of looking at margins before buying and what boxes need to be checked when it comes to predicting a solid income stream. Rob also discusses how to define and mitigate the different risks involved so that you can come out on top.
Alastair MacDonald is a private advisor to established entrepreneurs, investors, and business owners, as well as a TEDx speaker who lectures on economic, social, and financial forecasts. Join me today to hear part two of our conversation at the Freedom Founders Mastermind, where we dive into the concept of certainty, how to hedge against a volatile economy, and why the abdication model is no longer one that works.
Listen in to learn the reasons why Alastair is not worried about consumer price inflation (and what he’s really worried about instead) and why the 401(k) is not always the investment that it is made out to be. You’ll learn why he is most concerned about the issue of division and polarity in the Western world, why your business is your best asset in a volatile economy, and how you can maintain its viability to weather the most intense economic storm.
1. Get Your Free Retirement Scorecard:
Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Go to www.FreedomFounders.com/Scorecard to take the 3 minute assessment and get your scorecard.
2. Attend A Workshop:
If you’re committed to Freedom, but still building a practice, paying down school debt, or growing investment capital, our hands-on Freedom Blueprint Workshops are your entrance ramp onto the fast track! Visit www.freedomfounders.com/workshop to claim your seat!
3. Apply To Visit The Mastermind:
If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit www.freedomfounders.com/step-1 to apply for a seat.
4. Want to Work Directly with Me?
If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call (972) 203-6960 Ext 144 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access program – we’ll set up a time with you to talk, find out about your goals, and see if there is a fit.