small business Tag Archive

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Growing a dental practice in a rural small community – Dr. Bryant Birch

Are you living under the illusion that advanced dentistry is just a big-city thing? That your success is limited because you’re in a rural area? You’ll think again after hearing Dr. Bryant Birch’s story in today’s episode. The nation’s mentality is changing, and technology is being welcomed and expected. Listen to T-Bone’s conversation with Dr. Birch for the inside scoop on how to expand your dental practice in a small town.

Dr. Bryant Birch: Small town dentist attains big success

Dr. Bryant Birch grew up as the son of a dentist, in Green River, Wyoming, population just under 1300. He took over his father’s basic dental practice and has taken it to the next level. In this episode, Dr. Bryant talks about the process of developing and expanding the practice, and a life-changing event that changed his attitude and the way he thinks and looks toward the future, including investing in dental technology. Listen in to this compelling and inspiring conversation about overcoming the odds and growing a highly successful dental practice.

Why do dental implants in-house?

One of the advanced dentistry procedures that Dr. Bryant Birch added to his practice is dental implants. In this episode, he talks about his journey of learning the skills, educating his patients, and eventually growing his practice 30% per year through offering implants. Listen in to find out why people love getting general and advanced dentistry from one doctor, and to get the tips and resources you need to grow your own dental practice.

Sleep Apnea treatment and other great ways to expand your dental practice

An estimated 22 million Americans suffer from sleep apnea. In this episode, find out how you can help your patients get a restful night’s sleep by offering a dental appliance for sleep apnea, and what you can do to incorporate this into your practice with a sleep apnea champion on your team. This is just one of the great ways you can grow your business. As you listen to Dr. Bryant Birch talk about the expansion of his dental practice, you will discover many great ideas and resources that will encourage and inspire you to move your own practice into the future.

T-Bone talks about training the team at your dental practice

How do you train your team to have the same direction? This is Dr. Bryant Birch’s question for T-Bone in this episode. T-Bone offers a number of valuable insights into the process of getting your team to share the vision, be empowered, and accomplish goals. These ideas and many more are part of this conversation. Listen in and find out what you can do to take your dental practice to the next level!

Outline of This Episode

[0:17] Intro of this episode with Dr. Bryant Birch.
[0:43] Bryant’s story of taking over his dad’s dental practice in Green River, Wyoming.
[6:27] How Dr. Birch chose to make changes to the practice.
[8:39] How Bryant Birch went from simple general dentistry to high-tech.
[14:09] Bryant’s journey to doing dental implants in-house.
[20:29] Dr. Birch’s plans for building a new facility.
[22:26] The changing mentality toward technology in dentistry.
[24:19] Dr. Birch’s thoughts about taking insurance.
[27:16] T-Bone and Dr. Bryant on trying new things.
[29:28] Sleep apnea in the medical practice
[32:22] Dr. Bryant’s story of a life-changing experience that altered his attitude and the way he looks at the future.
[40:06] How do you train a team to have the same direction?
[45:35] Using community events to educate.
[46:32] The pre-requisites to taking it to the next level.

Listen to the entire interview

Resources

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T-Bone Speaks is a podcast dedicated to helping you achieve clinical, financial, and personal balance. You’ll love the entertaining demeanor and down to earth approach to dentistry.

 

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Eat what you kill

Now I am not much of a hunter however the saying “Eat what you kill” is a great business strategy to follow to ensure your financial success in dentistry and any other kind of business.

“Eat what you kill” translates to running your practice on a cash flow basis as an astute business owner and entrepreneur. This approach also works extremely well with your personal finances, and ultimately can be the key to avoiding the pit falls of personal and professional bankruptcy. And is so easy to manage. You do not need an accounting degree to follow this strategy. Anyone with the desire manage their business or personal finances extremely well can do this.

It is not taught in schools, as far as I know. Many industries benefit from you not following this strategy, including banks, credit card companies, leasing companies, and of course bankruptcy attorneys. The “eat what you kill” strategy prevents you from making poor financial decisions. It displaces the wants and redirects to the absolutes and must haves to grow the business.

The benefits are far flung, like decreased stress in your life due to no worries regarding your finances, no concerns ever about being overdrawn at the bank, always knowing the status of your financial capabilities when the opportunities present themselves. The most important benefits to me have been a lifelong ability to grow my business and personal wealth without major setbacks.

Sound too good to be true? Not at all, simply… Spend what you earned.

The trick is to apply this approach to finance consistently and continually, with no exceptions on a daily, monthly, and annual basis.

Spend only what you earned this month in your business. If you do not have the money, then don’t obligate the company for the liability. For a small business this means the owner only gets paid if there is money left over at month end.

Spend only what you earned and deposited in the bank. This prevents your business from getting over extended financially waiting for a check to clear or accounts receivable to come in.

Guess what? You start to pay very close attention when there is no money left over at month end. You will take action quickly to correct your cash flow direction. Works like a charm!

Now some of you will be asking “how do I apply the approach to purchasing significant capital assets needed to grow the business?” Consider technology purchases such as a $100,000 3D cone beam CT scanner. I highly recommend that you plan to pay off the lease/loan for any such purchase in a 3 year period. That has been my policy for many, many years. Less money ends up in paid interest, more of your money ends up paying for the technology itself. Quite simply if you can’t pay it off in 3 years – don’t buy it.

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