Elevate Your Dental Practice: Unlocking The Business Side of Dentistry

Elevate Your Dental Practice: Unlocking The Business Side of Dentistry

8/31/2023 11:45:19 AM   |   Comments: 0   |   Views: 69
In a conversation between Chad Duplantis, a dentist and co-host of the podcast "Dentists in the Know," and Shawn Zajas, the importance of planning for the future in dentistry and embracing the business mindset is discussed. Chad emphasizes the need to think about the end game in dentistry and the value of building a practice that is sellable or has investment-grade potential. He challenges the negative connotations often associated with considering the end of a dental career and highlights the importance of creating something of value that can be passed on or sold. 


Chad and Shawn acknowledge that dentistry is not just about providing clinical excellence but also about understanding the business side of things. They recognize that having a successful practice with traction, a following, and influence is valuable in the dental industry. They discuss the potential financial benefits of structuring a practice well and positioning it as an investment-grade practice that can be sold for a higher multiple. Chad shares insights from his conversations with industry experts like Victoria Peterson, who distinguish between simply selling a practice and having a practice with investment value. 


The conversation also touches on the challenges of venturing into new areas and acquiring new skills. Shawn shares his experience of underestimating the complexity of podcasting before he started his own podcast, and how outsiders may perceive certain tasks as challenging even though they become second nature with experience. They discuss the importance of embracing a beginner's mindset and overcoming the fear of failure and humiliation when starting something new. Chad shares his own journey of realizing that not everyone will be pleased in dentistry, and that it is essential to accept that and focus on being true to oneself. 


Chad and Shawn delve into the topic of handling adversity and the fear of being misunderstood. They emphasize that it is impossible to please everyone and that hate or criticism often stems from jealousy. They encourage listeners to focus on the positive feedback and impact they make rather than dwelling on the negativity. They discuss the power of regrets and the importance of taking risks and not being afraid of uncertainty. They highlight that regretting the things they didn't do is more significant than the potential failures they could have experienced. They stress the idea that people start paying attention and critics emerge only when individuals are making an impact. 


Throughout the conversation, Chad emphasizes the value of trust, integrity, and playing the long game. He acknowledges the importance of earning trust in business relationships and emphasizes that dentistry is not just a means to an end but should be aligned with personal values and the desire to be remembered for more than professional achievements. Chad credits his partners, Jeff and Jennifer, as well as his family, as his mentors and sources of inspiration. He also pays tribute to Lou Gramm, the founder of catapult education, for his role in Chad's speaking journey. 


In conclusion, Chad encourages listeners to join the "Dentists in the Know" community on Facebook, follow them on Instagram and YouTube, and listen to their podcast. He highlights their mission to provide valuable information and education to the general public. Chad's insights and experiences serve as a reminder to dentists and professionals in any field to stay true to themselves, embrace challenges, and focus on making a positive impact. 

More about Chad: https://innovationindentistry.com/innovator/chad-duplantis
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