Investment Grade Practices: A Dentist Podcast

Don't let your big goals and dreams undermine your confidence. Where you set your mind and focus is where you will end up. Today, I am sharing the mindset, thought process, and goal-setting behaviors that are key to building an Investment Grade Practice. 

Are you living the lifestyle you want? Having an Investment Grade Practice means you have choices. Join Dr. Victoria Peterson and Dr. Clint Euse as they discuss the keys to dental partnerships, schedules, and finances that let you make the choices you want to live the life you deserve.

Optimization means getting off the plateau in your dental practice, and to the next level of value and ease. But optimization means different things for different doctors. Tune in today as Dr. Victoria Peterson dives into strategies and thought processes you can use to optimize your Investment Grade Practice.

Having an Investment Grade Practice means you have difficult choices to make. Join your host Dr. Victoria Peterson with special guest, Dr. Nikki Green as they dive deep into how Dr. Nikki Green used savvy business practices to build her Investment Grade Practices and what tools she used to help with the tough choices involved in selling her practice at the highest profit to help highlight the best solutions for YOUR future Investment Grade Practice. 

In this special crossover episode of the award-winning Investment Grade Practices Podcast, your host Dr. Victoria Peterson, and Everyday Practices Dental Podcast co-host Regan Robertson discuss how this above and below-the-line framework applies to metrics while offering insights into how you can elevate your practice's performance. Jump into this conversation to learn how understanding these metrics can transform the day-to-day management and the long-term strategy of your practice.

Welcome to a special crossover of the award-winning Everyday Practices Dental Podcast and highly acclaimed Investment Grade Practices Podcast, featuring a conversation between Regan Robertson and Dr. Victoria Peterson. In this episode, we dive into the dynamics of leadership and practice management, as Regan and Dr. Victoria explore the critical balance between above-the-line strategic planning and below-the-line daily operations. Dr. Victoria breaks down the four categories doctors and their teams need to focus on to develop an Investment Grade Practice. The discussion also covers the importance of building a strong foundation in your practice to avoid burnout and create sustainable success.

As the landscape of the dental profession evolves and responds to volatile economic conditions and shifting dynamics, it's more crucial than ever for dentists to be prepared for the financial challenges and opportunities that lie ahead. In this timely and insightful episode of Investment Grade Practices Podcast, your host Dr. Victoria Peterson and Dr. Bruce B. Baird (co-founder of PDA, and host of The Productive Dentist Podcast) discuss the implications of factors like inflation, rising interest rates, and corporate consolidation on dental practices. Then they introduce a new program designed to help dentists navigate the complexities of seller readiness and enhance the value of their practices. 

In this episode of the Investment Grade Practice Podcast, Dr. Maggie Augustyn shares her journey from burnout to building a thriving, patient-centered practice. She reveals how defining her philosophy of care, mastering business metrics like hourly production, and fostering a strong team culture transformed her approach to dentistry. Tune in for inspiring insights and actionable strategies to reignite your passion for both patient care and practice leadership.

Do you know where you're going in your business? Without an end goal in mind, dentists often flounder. Should you sell? Should you buy? Can you retire? The questions are endless and the answers elusive. I'm taking the guesswork out of your business today by sharing what you need to know to craft your dental practice into the valuable asset it should be to support your long-term goals.

Marketing is key to building an Investment Grade Practice.  It's so important that it's one of the 4 quadrants of an IGP practice. And not just any marketing: authentic marketing. Entrepreneurial dentists like you know that you need the right patients to build a practice you love walking into daily. Join me today to learn how you can craft an authentic marketing strategy that supports your Investment Grade Practice.

In this powerful episode, we're diving into the concept of freedom - what it really means and how we can achieve it, both in business and life. Dr. Bruce B. Baird, Victoria Peterson S.s.D., and Regan Robertson share their personal and professional experiences to living freely and discuss how freedom extends beyond financial success, exploring inner peace, clarity, and the strength to make courageous decisions. Discover how you, too, can tap into freedom and take charge of your path to a fulfilling and purpose-driven life.

In this episode of Investment Grade Practice podcast, we delve even deeper into the critical metric of whether your patients say “yes” to treatment (and how often) and explore innovative ways to streamline financing presentations. Since one-third of your patients will wait to make their treatment decision, this episode is fully dedicated to patient reactivation. By staying in relationship with your patients and effectively re-engaging those who were previously recommended treatment, you could potentially add $30,000 in monthly revenue to your bottom line.

If you're going to grow your business, you need to grow your people. So many dentists struggle to find and retain a passionate team. What's the secret? Today, Dr. Adrienne Reynolds and I dive into the character traits, driving passions, and work needs of dedicated dental teams. 

Communication is the cornerstone of building an Investment Grade Practice. In this episode of Investment Grade Practices Podcast, your host Dr. Victoria Peterson is joined by Dr. Christopher Bowman of Advanced Dentistry of Charlotte (Charlotte, NC). They discuss the intricacies of effective communication, and insights into how communication intertwines with marketing strategies, leading to predictable and durable dental practice growth. From defining the elusive “yes” from patients, to navigating obstacles within dental practices, you will learn practical strategies for developing strong relationships with your patients and fostering trust through effective communication.

Recapping her conversation with Dr. Jonathan Ehlers (see Episode 132) in this episode of the Investment Grade Practices podcast, your host Dr. Victoria Peterson talks about setting the standard for excellence in your practice. She explores how to bring your vision down to your team's level to ensure that everyone is on the same page and working toward the same goals, as well as the three stages in the life of a business: viability, predictability, and durability.

Investment Grade Practices Podcast host Dr. Victoria Peterson is joined by the highly esteemed Dr. Sam Shamardi, a renowned periodontist and leader in dental education. Together, they tackle a subject that often goes overlooked when building successful dental practices: practitioner wellness. Dr. Shamardi shares his expertise on mental health, burnout, and a critical issue facing dental professionals: noise-induced hearing loss.  

In this episode of the Investment Grade Practices podcast, your host Dr. Victoria Peterson is joined by the remarkable Dr. Jonathan Ehlers, the visionary dentist behind Tiger Family Dental in Sedalia, Missouri. Dr. Ehlers shares insights into empowering associates and building a thriving practice in his blue-collar community. Learn how he paved the way for his new associate to be successful by discovering the type of dentistry she enjoys doing, and then what he did to market to her strengths.

We're all interested in knowing how we perform, and there are many metrics we can use to measure this. But what if it all came back to one thing: your philosophy of care. That is, after all, what drives your patients' care. How they view their own health is derived from how you view their health. So how comfortable are you in explaining that to all of your patients? And what can you do to improve? Find out in this episode of the Investment Grade Practices Podcast.

In this episode of the Investment Grade Practices podcast, your host Dr. Victoria Peterson welcomes dental luminary and beacon of ethical leadership Dr. Maggie Augustyn. They delve into the complex and critical realm of ethical decision-making in the dental profession, each sharing their experiences, unraveling the intricacies of maintaining ethical standards while navigating the challenges of hiring, retaining, and expanding in dentistry. 

Why do promising new hires sometimes fail to meet expectations shortly after joining the team? Investment Grade Practices Podcast host Dr. Victoria Peterson explores the stages of team development - Forming, Storming, Norming, and Performing - and reveals how to navigate the “storming” phase to ensure new team members thrive.  

The way you brand yourself can make or break your team In today's competitive landscape, the way you brand yourself as an employer can make your break your practice. Join Dr. Victoria Peterson in this episode of the Investment Grade Practices Podcast as she dives into the essential strategies of employer branding that every dental practice needs to know so you can proactively establish and enhance your reputation as an employer.  

Mastering the art of strategic recruitment to build a winning team Are you stuck reacting to hiring challenges or are you taking proactive steps to build your ideal team? This episode of the Investment Grade Practice Podcast, host Dr. Victoria Peterson tackles navigating the complexities of hiring in today's competitive environment.  

Discover how putting your team first can lead to unprecedented success and satisfaction As Productive Dentist Academy gears up to celebrate its 20th anniversary, Investment Grade Practices Podcast host Dr. Victoria Peterson and special guest Dr. Maggie Augustyn reflect on the profound impact of leadership styles and team dynamics. They discuss how putting your team first can elevate not just the workplace environment but also drive exceptional results.   

“We've got to stop thinking about ‘patients' and ‘case acceptance,' and start thinking about ‘human beings.'” ~Dr. Victoria Peterson Join Investment Grade Practices Podcast host Dr. Victoria Peterson as she sits down with Marla Merritt from AcceptCare, a leader in patient finance solutions. Together, they explore innovative strategies that can help your patients say “yes” to care, even in challenging economic times. 

In this episode of Investment Grade Practices Podcast, your host Dr. Victoria Peterson tackles one of the hottest topics in the dental profession: employee retention. It's no secret that the pandemic upended the traditional workplace, with nearly 40 percent of employees leaving their positions and many shifting to virtual work. This episode takes a good look at comprehensive research conducted by Productive Dentist Academy and unveils an innovative program, Dental TQ, designed to revolutionize talent development within dental teams. Discover how your IQ, EQ, and TQ play crucial roles in creating a cohesive, motivated, and highly skilled workforce.

Welcome to the latest episode of the Investment Grade Practices Podcast with your host, Dr. Victoria Peterson. In this insightful episode, Dr. Peterson sits down with Stephenie Goddard, the dynamic CEO of Glidewell, a leading force in the dental lab industry. With nearly two decades at Glidewell, Stephenie offers a unique perspective on the challenges and opportunities facing dental practices today.

The elephant in the room for dentistry is that as consolidation heats up, dentists are getting left behind. This issue is particularly acute for associate doctors, who are plagued with student debt and isolated within their operatories, leading to alarming turnover and burnout rates among young dentists. In this special episode, Dr. Bruce B. Baird and Dr. Victoria Peterson unite to unveil Productive Dentist Academy's solution to this mounting problem: the launch of the Clinical Calibration Institute. "We are here to serve dentists, period," say the PDA co-founders. "It doesn't matter if you are a solo practitioner, small group partnership, or DSO; we have an obligation to elevate patient care."

In this final part of our four-part series, Investment Grade Practices host Dr. Victoria Peterson, and Everyday Practices Dental Podcast co-host Regan Robertson finish their discussion of above- and below-the-line behaviors. They explore the concept of above- and below-the-line communication in your practice, emphasizing that success requires not just support but the right kind of support.

Welcome to part three of a special four-part crossover series of the award-winning Investment Grade Practices Podcast and highly acclaimed Everyday Practices Dental Podcast, featuring a conversation between Dr. Victoria Peterson and Regan Robertson. Continuing the theme of above and below the line thinking, Victoria and Regan explore essential strategies to elevate your dental practice to peak performance. In this episode, Regan and Victoria explore the significance of cadence in business operations, and ways to establish the proper rhythm for meetings and processes to ensure effectiveness without overwhelming the team.

Would you throw away $150,000 of profit every year? Of course not. But that's what you might be doing if you get rid of an insurance plan without asking the right questions. Today, Nicholas Partridge, Founder and President of Five Lakes Dental Practice Solutions, joins me for a critical discussion about crafting an insurance strategy that adds value - and dollars - to your practice.

Welcome to the second part of a special four-part crossover series of the award-winning Investment Grade Practices Podcast, featuring a conversation between Everyday Practices Dental Podcast co-host Regan Robertson and Dr. Victoria Peterson. The previous episode covered “above and below the line,” and if you missed it, you might want to circle back and listen to it, because this week our hosts discuss how this framework applies to metrics while offering insights into how you can elevate your practice's performance. Learn how understanding these metrics can transform the day-to-day management and the long-term strategy of your practice.

Welcome to the first part of a special four-part crossover series of the award-winning Everyday Practices Dental Podcast and highly acclaimed Investment Grade Practices Podcast, featuring a conversation between Regan Robertson and Dr. Victoria Peterson. In this episode, we dive into the dynamics of leadership and practice management, as Regan and Dr. Victoria explore the critical balance between above-the-line strategic planning and below-the-line daily operations. Dr. Victoria breaks down the four categories doctors and their teams need to focus on to develop an Investment Grade Practice. The discussion also covers the importance of building a strong foundation in your practice to avoid burnout and create sustainable success.

In this episode of the Investment Grade Practices podcast, we invite you to delve into the importance of establishing connections with new patients even before their first visit to your practice. We'll discover how to identify commonalities and shared interests to create meaningful bonds with your patients from the very beginning. We'll investigate ways to achieve these connections, and also why doing so is crucial when working with new patients.

This classic episode of the Investment Grade Practices Podcast dives into the essential practice of patient reactivation, addressing the challenge of bringing back patients who have needed more time to consider their treatment options because of unexpected costs. Your host, Dr. Victoria Peterson, explains how maintaining and strengthening relationships with these patients can boost your practice's revenue an additional $30,000 monthly.

"The interest rate doesn't matter; it's the changing of the balance of the debt that matters because if we can get to zero a lot faster, zero times anything is zero." ~Dr. Howard Polanski In this episode of the Investment Grade Practices Podcast, Dr. Victoria Peterson welcomes Dr. Howard Polanski, the CFO (Cash Flow Optimizer!) and founder of Financially Led. He specializes in helping small business owners optimize their cash flow. They explore the intricacies of cash flow management, focusing on how to strategically use lines of credit to reduce debt payments and increase financial flexibility. Dr. Polanski shares practical examples and valuable insights on maintaining financial stability, preparing for economic uncertainties, and enhancing overall cash flow in dental practices.   As you listen to this episode, ask yourself the following: How am I currently managing my debt payments? Could my practice benefit from a more flexible financial strategy? Am I prepared for economic downturns or unexpected expenses? What steps can I take to improve my cash flow management?  

"It doesn't matter if they get the work done over four months or four years. What matters is they're in control, and you have a plan."  ~ Dr. Victoria Peterson In the previous episode, we learned that the most important metric in your practice is if your patients are saying "yes" to treatment, and at what level. How do we move patients from the "I'm scared," "You might hurt me," "I'm embarrassed," "I can't afford this" mindset to the mindset of "I trust you," "I believe what you're telling me about my mouth," "I'm confident you're my provider," and "I'm confident I can work this into my budget"? One of the ways we can do this is through financing. Technology has finally caught up with this important part of the dental visit, as what used to be a tricky negotiation where forms are being filled out, and you're waiting to see who's approved by what vendor, can now be presented to the patient in a way they can understand and accept. As you listen to this episode, we want you to think about: How has third-party financing affected your practice? What are the various ways you offer financing to your patients? How do you present these financing options?

We're all interested in knowing how we perform, and there are many metrics we can use to measure this. But what if it all came back to one thing: your philosophy of care. That is, after all, what drives your patients' care. How they view their own health is derived from how you view their health. So how comfortable are you in explaining that to all of your patients? And what can you do to improve? Find out in this episode of the Investment Grade Practices Podcast.

Raise your hand if you've ever been frustrated with your team. Do they hide? Forget simple tasks? Refuse to take accountability? Guess what, you CAN fix this! It all comes down to how much you invest in the leaders in your practice. Join me and my guest Regan Robertson - CCO of Productive Dentists Academy - as we shed light on how you can empower world-class leaders in your Investment Grade Practice.

Just because you own your dental practice, doesn't mean you have a sellable asset. Too many dental practice owners are finding out too late that the value of their dental practice won't support their future. So let's change that! Today, Investment Grade Practice Business Advisor Christine Uhen joins me to explore the opportunities you can take advantage of right now in your practice to ensure you live the life you want now, while building a business that supports your future.

Accounting. Not the most enthralling subject for most business owners. All too often, people downplay the importance of accounting for their entire career…until they try to sell their dental office and are either pleasantly surprised or devastated by the numbers they see. Join Dr. Victoria Peterson and Chris Sands today for an upbeat, engaging conversation about what you need to know to ensure the sale value of your dental practice.

You want to make good decisions. The right decisions. For you. It's never too early to start looking at what choices will bring you the most value when you sell your dental practice. Join Dr. Victoria Peterson as she talks with Kyle Francis from Professional Transition Services about understanding your options for selling your dental practice.

Marketing is key to building an Investment Grade Practice. In fact, it's so important that it's one of the 4 quadrants of an IGP practice. And not just any marketing: authentic marketing. Entrepreneurial dentists like you know that you need the right patients to build a practice you love walking into every day. So join me today about how you can craft an authentic marketing strategy that supports your Investment Grade Practice.

The average dentist has $25 million flow through their business during their career. The reality is, most average dentists don't see their share of the profits. Why? There are so many ways a dental practice can leak money. So many ways. Today, I am sharing a few ways you can optimize your dental practice so you can see the payout you deserve from all the work you put into your Investment Grade Practice.

Do you know where you're going in your business? Without a final end goal in mind, dentists often flounder. Should you sell? Should you buy? Can you retire? The questions are endless and the answers elusive. I'm taking the guesswork out of your business today by sharing 3 things you need to know in order to craft your dental practice into the valuable asset it should be to support your long-term goals.

68% of employees leave because they didn't get along with their supervisor. If you never want to be blind-sighted by an awesome employee leaving, then you need to stop what you're doing and listen to this podcast episode right now. Owners of thriving dental practices use their Cultural North Star to rally their team and build a culture that is so awesome, team members choose to stay.

If dentists were cars, my guest today Dr. Nathan Kupperman, would be a Ferrari. If you are looking for a dose of inspiration, then today's episode is for you. Dr. Kupperman joins me to pull back the curtain for a glimpse into the mentality of investment that will help you build your own Investment Grade Practice.

A lot of dentists get sucked into the drama of the stock market. It's easy to do when you're bombarded by news flashes on a daily basis. But your future is too important to wager on the emotional roller coaster caused by news reports. Matt Mulcock, CFP joins Dr. Victoria Peterson to help calm the waters and clarify how you can make smart investment choices that create long-term wealth as you build your Investment Grade Practice.

It's a conundrum. Experienced owners want to hire young, entrepreneurial dentists. Young dentists are seeking great practices where they can grow into ownership. So why is it so hard for these groups to find each other? Join me today as my guest Dr. David Rice from IgniteDDS shares how you can find the successor that will ensure the success of your Investment Grade PracticeTM.

Communication is the cornerstone of building an Investment Grade Practice. In the 100th episode of the award-winning Investment Grade Practices Podcast, your host Dr. Victoria Peterson is joined by Dr. Christopher Bowman of Advanced Dentistry of Charlotte (Charlotte, NC). They discuss the intricacies of effective communication, and insights into how communication intertwines with marketing strategies, leading to predictable and durable dental practice growth. From defining the elusive “yes” from patients, to navigating obstacles within dental practices, you will learn practical strategies for developing strong relationships with your patients and fostering trust through effective communication.

Are you ready to remove drama from your practice? Do you want to keep your hard-earned profits? Hiring and retaining a fantastic dental team is the #1 way you can do that! Join me today as Dr. Maggie Augustyn joins me to share her secrets for attracting and keeping the best dental professionals who can help support your practice dreams.

In today's society, safety, certainty, security, and stability are what employees are demanding. But at the same time they want variety, and surprise, and something new. So how do you build stable processes and clear roles, and give the team the freedom to explore their roles and grow?