Podcast appearances and mentions of jayme amos

Making the leap from associate dentist to startup owner is a scary prospect, and many of us focus on the wrong things when embarking on this adventure. Addressing these obstacles today is author, startup consultant, and founder of Ideal Practices, Jayme Amos. Join us to hear what building your ideal startup entails and the steps that you can take. We discuss actionable advice both for those looking to startup and established practice owners. We discover some of the challenges that Gina faced in her startup, and why she succeeded where others did not. Tune in to find out why asking "What" is more important than asking "How" when refining your vision, and the three irreversible decisions that can derail your startup before you've even begun. We hear some wonderful anecdotes of how startups change lives, and examples of people that have made an impact on Jayme after joining his network. Jayme talks us through the major problems with the advice given on online forums ("If you build it, they will come"), and how adding a personal touch to your startup can make all the difference to your patient database. Press "Play" to find out what the three P's of planning stand for, as well as where you can find some great resources to launch your startup, and so much more!

Join the discussion on Facebook!Full Transcript:Jonathan:Welcome to the Tooth and Coin podcast, where we talk about your adventure of being a dental practice owner. In these episodes, we're going to be talking about problems that you will likely face as a practice owner, as well as give an idea about actionable solutions that you can take so that you can get past this problem in your practice. Some of these concepts are really big ones. Some of them are very specific, but we hope that these episodes help you along with your journey. Now, a very important piece for you to understand is that this is not paid financial advice. This is not paid tax or legal advice. We are not your financial advisors. We are not your CPAs. This is two CPAs talking about informational and educational content to help you along with your journey. It's a very important piece for you to understand.Jonathan:Another thing that you need to know is if you enjoy today's content, join us on the Facebook group. So we've got a Facebook group that is active with dentists that is going to have content talking about what we're talking about today, to continue the discussion. Agree with us, don't agree with us, have a story to tell, have something to share. Join us in the Facebook group. If you go to Facebook and you search for Tooth and Coin podcast, click on it to join it and be able to join us there.Jonathan:Finally, if you need some more help, we're developing a list of resources that are going to be centering it around our topics of discussion, to be able to help you a little bit more than what the content is doing. So if you'd like access to that, whenever it becomes ready, all you have to do is text the word toothandcoin, T-O-O-T-H-A-N-D-C-O-I-N to 33444. And that's tooth and coin, all one word, no spaces, to 33444. Reply with your email address. And we'll email you instructions on how to get into the Facebook group, as well as add you to the list, to be able to send you those resources when they're available. And if they're available, we'll go ahead and send them to you as well. So onto today's episode, hope you enjoy it.Joseph:Hello ambitious dentists and welcome to episode number three of the Tooth and Coin podcast. Today, we are going to discuss the challenges that come along with being a business owner alongside me, as usual, is my trustee co-host, Mr. Jonathan VanHorn.Jonathan:Hey, hey you guys.Joseph:So Jonathan, I think what we're going to talk about today is just to get a chance for our listeners to understand what are some of the challenges that come along with that. So I think first and foremost, maybe we start with dental school. So what is it that a dentist, and I'm relatively new to the profession, what is it that dentists learn in school? Like when they're in dental school, what do they teach them?Jonathan:Yeah, I mean, the biggest problem is the easy one. And that's that they go to dental school to learn dentistry and to become a doctor and to be able to help people with their oral health. They do not learn how to become a business owner, which the majority of dentists go on to become practice owners. And so the number one challenge people are facing and being a small business owner in the dental industry is that they got to become a business owner whenever they've never owned a business before, or had any type of training in it.Joseph:It's funny that you say that, I was thinking about when I was a kid and I went to the dentist, I was maybe 15, 16 years old, something like that. And I got to talking and my dentist came in and he said this, that and the other. And he said, "Have you decided if you're going to go to college or not?" And I said, "Yes, I plan on going to college. And he said, "Well, if you go to college, he said, you should major in business." And he said, basically exactly what you just said. And I said, "Business, why should I major in business?" He said, "Look, I'm a dentist now. And they taught me everything that I needed to know about dentistry to get started in practice, except for how to run a business, no matter what you want to do, you're going to need to know how to run a business."Joseph:And I was like, "Okay, duly noted." That was one of the first people that kind of told me that I should major in business, depending on wherever you go. He says, "You're always going to need to know business." So what do you see Jonathan, as some of the different elements that go along with that? I mean, to me, business at that age, I certainly, business seemed easy to me. People come in, they get services, you pay them, you kind of go home and do your own thing. So, as we think about maybe some of the challenges of "the business" or running the business, what are some things that kind of immediately come to mind for you?Jonathan:Well, what's funny is that we went to school in the business world being CPAs we had to have business training. Our school that was related to business, almost like parallel to business. Even having classes so far as in that, where they teach you things like strategic management and things like that. But it's all book stuff really. I mean, it's not real world experience. And there's just so many problems with traditional education of what it actually even brings to the table when it comes to actually being a business person, so to speak. So there's only so much that information or education can give you when it comes to understanding what happens when it comes to owning a business. So all the people that are listening now that are either soon to be practice owners, or even the people that are already practice owners that already know this is that you learn most of this when you first become the practice owner.Jonathan:The education can give you a little bit of background, give you a little bit of an understanding of what you're getting into, so to speak. But if you've spent 15,000 hours learning how to become a dentist and zero hours learning how to become a business owner, whereas us being CPAs, we spend tons of hours in business school. We have more information. We may not have the experience, but we definitely have more information whenever we go into that situation in the first place. So the problems are stacked up on dentists pretty much from day one. The biggest piece is they don't typically have the educational background. Now I talk to dentists all the time. We even have at least one client of ours, Joseph, for Tooth and Coin that was a CPA before he was a dentist.Joseph:Really? Okay.Jonathan:Yeah. So it's not like they found that the secret to success is they had education. It's not necessarily that. It's a lot of being able to learn while doing as well. And it's not just the learning while doing. It's also the ability just to be able to see what you're doing and see if the things are going the way that they're supposed to be. And if you don't go into it with that mindset, you can, a lot of times, get caught in traps of repeating things that have gone wrong in the past. So the first big barrier again is education, which thankfully there's tons of information that's out there nowadays.Jonathan:I mean, people that are listening right now are receiving information about the business of dentistry, so to speak. And so you're learning a little bit about this problem. If you highlight it, if you address it, then you have a chance to overcome that challenge. So the education piece is the first one, is the first big part of it. Add into the fact that in dentistry, you also get tons and tons of debt for the education that gets you to be skilled enough to be a person to do dentistry.Joseph:Wait, wait, wait, wait, wait, wait, wait, wait. So you're telling me you got to go into debt to become a dentist.Jonathan:Oh yeah.Joseph:That's not something that the federal government just writes checks for that?Jonathan:Everybody's really big public health, but we're not that big on it. So much so that the taxpayer money goes towards paying all the student loan debt off for all those dentists out there. Yeah. There's horror stories of people getting out of dental school with a million dollars in debt.Joseph:What? A million dollars for school?Jonathan:Yeah, just for school. Dave Ramsey, if you've ever listened to him talk to dentist on the phone, he's always just completely perplexed by the fact that, that's a possibility. So, that debt is really kind of probably the second biggest challenge is that you're going to have debt for school. You're going to have debt, because you're alive in 2021. And you're probably going to want to have a home if you're in certain areas of the country. You may end up having a car. You may end up having, if you have children, you probably have school. You may have childcare that you're paying for. There's so many things that just stack up against you in terms of your cashflow going out the door on a personal level, none the less, the business level. Everything is kind of stacked up against you in the very, very beginning.Jonathan:And that's before you get to the business side of things. The way dental school happens is there's tons of dentists that get out of school and they're already married and have two or three kids and by the time they're working their first job, just because of the way that the age range works. And so sometimes we even have the spouse's school on there as well. A lot of the times we have dentists that are married to other dentist. That's before you get to the business side. Now, if you get to the business side, your choices are typically to go work somewhere else as an associate, hone your chops for a little bit, get better at producing and things like that. Or learn a bit more about the industry and the real dental world or you can go and become a business owner at some point in time.Jonathan:Most people probably give it a year or two out of dental school before they jump into practice ownership. I think that's generally good advice for the majority of people. Get out there, learn on somebody else's dime for a little while, while you're getting some cash flow in the door. Getting things set. There are dangers around that, because you might get a little too set and you might start getting a little too comfy, not having to do some things, but at some point in time if you're listening to this podcast, you've probably made the decision or have made the decision in the past that you're going to be a practice owner. And so if that's the case, then you're going to have more debt. It's more business debt, which is-Joseph:Wait, they don't give these practices away. They don't just like, let you come in and just take over for free?Jonathan:Yeah. Like I said, we're big on public health in this country, but we're not big enough just to help people pay for getting their dental practice up and running in the areas they want them to be ran in.Joseph:Is it even possible for them to save up cash? How much cash would I have to save up to not have to take out debt for buying a practice? If I just wanted to say, you know what, I'm going to work my tail off and I'm going to save up, how much cash would you think that I would need to save up to even start that process?Jonathan:So we've had people do it and we've had people that they're like, I'm going to wait five or 10 years until after I get out of dental school to start my practice, because I want enough cash. I'm going to live frugally for five years, 10 years, and I'm going to be debt free and I'm going to start this practice and it's going to almost be all cash almost. If you're going the startup route, then I would say budget at least 300 to $500,000. Your market may vary, your practice style and philosophy may vary. A good friend, Jayme Amos with Ideal Practices, how to open a dental office.com. He does startups and they do hundreds or at least a hundred a year. And I've heard them speak on the topic.Jonathan:And they're like, it just kind of depends on, do you want Cadillac brand things? Do you want the Honda brand things? Or do you want the, or sorry, it's like Tesla, Cadillac and Honda. Which of these different choices do you want to have in your practice? And it kind of just depends on your style and your brand and your vision for your business and things like that. So that 300 to $500,000, it's a wide range. Now, if you're going to go buy the real estate that goes along with that, it depends on the real estate process in your area. In Lepanto, Arkansas, a dental practice office, the building is going to cost you probably 150 grand. Whereas if you're in New York city, you were looking at 150 million or something like that. It's a big difference on the real estate.Jonathan:Yeah. So, more and more debt comes up, more and more. If you end up buying a dental practice, it very much depends on what type of practice you're buying. My kind of sweet spot, I feel like most people get into in terms of the buying of the dental ... of acquiring a dental practice. They're usually paying somewhere between 600 and 700,000. Well, that's a little bit too narrow of a range. Probably 600 to $800,000 for a dental practice. It's a one owner practice that has a bunch of patients and they're not doing a whole lot of dentistry.Jonathan:And that's kind of like the ideal situation. So, if you're going into business debt, and then it depends on what all types of upgrades you need, what type of equipment they have and all those other types of things. So, on the safe side, I would say minimum 300 grand to be upwards to anywhere towards a million for the business side of the debt. So [crosstalk 00:12:54] those are numbers ... Yeah. You add that all into the personal debt stuff. And you've got this big mole hill you got to climb up in order to be able to start getting to break even. It's one of these really unique industries where you start with a huge negative net worth.Joseph:We're talking about net worth, what does it even mean to have a negative net worth? What does that even mean?Jonathan:So, whatever your assets minus your liabilities are, is your net worth.Joseph:Okay.Jonathan:So pretty much, and this is, I think it's fairly unique to the US, but pretty much every college graduate starts with a negative net worth in this country.Joseph:Meaning if I add up my car and my bank account and then I take out of that my student loan debt or credit card debt or whatever, I own less than I owe.Jonathan:Exactly. Precisely. If you own less than you owe, which is a great way of saying it. Let's say that you've got a $250,000 house, and you've got $400,000 of student loan debt and $50,000 in credit card debt. All of a sudden, you're up to $750,000 in debt, and you've got $5,000 in your bank account. You've got negative $745,000 net worth, is what your net worth is.Joseph:Would you say that it's common, Jonathan, whenever people are either thinking about going into practice ownership or that they do start and go into practice ownership? Is it pretty typical to see a negative net worth at that point in their career?Jonathan:Yeah. I mean, I would say that's more common than not. And that is something that stacked up against you, but I want to make sure to make the point that people need to understand that debt has different types of meaning. So, if you're buying that dental practice that I was talking about 600, let's call it $750,000 that you paid for a dental practice that had an ample patient base, plenty of production to go around, you're going to be able to turn that thing into something. It's going to be able to generate a return of 350 to $450,000 a year, that you're going to be able to take home. Yes, you're taking on debt, but you're taking on debt in order to be able to attack the debt better. It's an investment.Jonathan:And it's an investment with an extraordinarily low interest rate based on the interest rates as of today's recording. So, that's not ... Ooh, debt bad is what a lot of people like to say nowadays. There is such a thing as leveraging other people's money to be able to make your debt go away faster, which is what I'm talking about whenever you buy a dental practice in order to be able to attack that stuff better on later. So, that's an important distinction I want to make, because I don't want to gloss over ... I don't want people to be thinking, oh, I'm going to have $1.5 million in debt when I start my business day one, but that's like an insurmountable number to get around.Jonathan:It's really not. Because if you think about it in terms of net worth, not only is that ... So you use that debt and you've acquired that practice, but as that debt is paying itself off, you're not building equity into that business, as well as receiving a cash flow from that business. And so you're getting both of them. And yes, there is interest payments going on and things like that, but we've got plenty of clients that have paid off their business debt within five years of being a practice owner and their student loan debt as well. Just because they got in and they didn't really have a lifestyle change and they went on and just paid everything down. So, that's the big second one. So the first one is education, the second one's debt. And it's impossible for us to not talk about debt as being a big challenge that people have to get over.Jonathan:And funnily enough, to me, the solution of getting out of the debt is to take on more debt, which is maybe counterintuitive to some, but if you-Joseph:It doesn't seem like it should make sense.Jonathan:I know, right. But from a math based perspective, if you're in flow doubles, but your outflow grows by 2% or 5% you're going to be able to, once that debt amount is gone, that 5% goes away. So it becomes worth it because your inflows are going to be more valuable than your outflows at that point. There are some people that I've spoken with that have been making a lot of money as an associate. It's fairly rare. Pretty rare that I talked to somebody who had a really great gig as an associate and could make as much as a lot of dental practice owners make, but those gigs do exist. It's just, you got to be a really high producer and get a really, really good position with a really great practice in order to be able to have that be a reality for most.Jonathan:So, anyway, so yeah, so those are two of the big challenges. The other challenges are, is just the, once you begin the experience. So, let's talk about that. Let's get past the decision to become a practice owner. Now, you'll say you are a practice owner, and now there's a problem with the fact that you've never ran a business before. And this happens to everyone. And I want to circle back to the original part of the conversation, talking about how we had business training. Just how many people do we know that went through business school that never owned a business. I mean, would you say it's, in all honestly, it's more than 90% of the people that we've probably graduated with do not own a business.Joseph:Yeah, for sure. Yeah. I think that's a good number. Don't own a business, haven't owned a business, won't own a business. They'll always be sat in the back of a paycheck instead of front of one.Jonathan:Yeah, exactly. So, that education piece isn't everything. I want to just hammer that point home one more time. But once you start that experience of being the business owner, I find that the challenge is that a lot of the times you tend to just do what has been done in the past, especially with the acquisitions. One of the biggest challenges I see people have is that they become a new practice owner and they kind of just fall into what everybody was doing in the past. They just kind of keep doing it and they don't really change.Joseph:Well, it's easier right? It's easy.Jonathan:That's exactly, exactly. Even in the CPA world, a lot of the times, people would just do what they did last year. That's kind of the rule is they call it Saly, same as last year.Joseph:Saly? Yeah, Saly. Say, you do it the same.Jonathan:Exactly. So, in dentistry you'll get into a new place and they have this pegboard system, they haven't gotten those computers yet. Everything's on paper. It works, so they don't want to break it. And some people, most people nowadays don't, but some people will fall into the trap of just being like, well, I don't want to rock the boat. So we're just going to keep doing it, how it was done in the past. That's an extreme example, but that goes down to the minutia of like, this is how we've done it in the past. And so people get stuck into these trends or this idea that the way it was in the past is always going to be the best.Jonathan:And in business, especially in today's day and age, you've got to be willing to adapt. You've got to be willing to do things better. You got to be willing to work on efficiency. You've got to be able to understand that a business is like a machine and it constantly has to be oiled. It constantly has to be tweaked. It constantly can be better. Now, there is an idea, and there is a concept that you could argue that at some point it's not worth it to continue or at some point, you just let it run. But in general, most dentists are going to probably lean on the office manager that's been there forever to learn about how to do AR. And you'll hear about it all throughout the industry and in newspaper reportings or anything like that. Office manager steals $300,000 and embezzles from in the office or whatever it is.Jonathan:And so there's dangers in that. And so, you've got to be learning while doing. So it's a challenge, but it's something that I think that dentists can overcome. I know that most dentists can overcome, because they've gone through dental school and they've got their really hard curriculums and so they've learned. They know how to study and hopefully know how to learn. The problem is, is that that experience comes along with some pretty hard work. And in most businesses, in a lot of small businesses, the owner does, the owner works too. In dentistry, if you're open 36 hours a week, you better hope you're doing dentistry for 36 hours a week.Jonathan:Not learning about how AR works or how the practice management works or handling the computers went down or talking to the IT company or sending an email to your CPA, because they've asked what a couple of transactions were that came through your bank account. Or listening to a CBS or something like that, because there's a new stimulus bill that's coming out that may affect you or may affect your employees or talking to vendors or all the other things that come along with it. There's so much work to be done in the dental space. And so little time to do the business stuff. You know, I admit it, I was one of those people that was like, man, being a dentist would be really cool. You don't have to work on Fridays. They're only open four days a week.Jonathan:And then I got into the industry and I was like, man, that is the biggest misconception maybe in the general public. And that is a danger and don't get me wrong. That's a challenge. Some dentists probably do it that way. They're so exhausted on that fifth day, they go home and rest. But especially in the beginning stages, you got to be willing to start learning about what's going on and adapting and changing and doing things better. So that's another giant challenge is the experience of learning while doing, and having to work while you're doing it. Because literally, if you're not working and doing the dentistry, you're not making any money. And so all those other challenges are going to rack up on you.Joseph:Would you say, Jonathan, that it's pretty typical or not typical for a dentist to have either a half day or a whole day dedicated to CEO day? Is that something that's pretty typical that you see out there? Or is that something that's kind of atypical?Jonathan:I feel like people are trending away from it. So I feel like the pressures of the day, or getting to, well, there's another half day at capacity I could add on there, if I just did dentistry during that half day. And so that does tend to happen in really busy practices, where they're like, well, we don't have any more capacity during the day. So I don't really want to add an associate. I don't really want to add more chairs, so what if I just add hours? And so that gets taken away. But yeah I would like to see more of that in a lot of our clients.Jonathan:I'm not saying that it's not prevalent. Like, it is very common for practices to be open four days a week, incredibly common and not the fifth. And the fifth is hopefully the CEO day. What does tend to happen is over a couple of year period, eventually that CEO day starts becoming a, every other week CEO day and then it becomes in every other month. And then it's like, well, I'll look at this once a year type thing. So yes, I do feel like it's trending away.Joseph:Well, let me ask, I guess back to the CEO day. So if we're talking to a brand new practice owner and they say I think I'm going to have a CEO day. What are some things that you think would be like the best use of their time in a CEO day? And we don't have to get into specifics. We can certainly get into specifics in later episodes, but as you have a day that you dedicate to being the CEO, whether that's a Monday or a Friday, or I have a couple of clients that do it Wednesday afternoons they carve out as their CEO time. What's the best use of their time, would you say, whenever they carve out the time to be at the CEO day or CEO half day?Jonathan:Yeah. That's a great question. If I were in the shoes of my clients, what I would do is I would have, on my CEO day, I would have kind of like my little things pile, which is like you get something in from the Arkansas dental board and you need to respond to it or something like that. Just something that is like a, you got to pay your license review or something like that. You've got your AP, which is accounts payable, which just means your bills are there. You need to take a look at, your office manager has already prepared all the checks for it and if the checks are attached to the invoice, which is attached to the bill, whatever it is. And you're looking at those real quick, signing them off and you just have your little pile of little things that you get done, probably takes you 20 minutes to do all of them and it's done for the week.Jonathan:I wouldn't let those little things pile up. I wouldn't let those little things be things I try to hit while I'm going through the week, because it would just distract me from the rest of the business and the dentistry to be done. That'd be kind of the first thing that kind of just knock out and get some wins in. The next thing I'd probably have any type of employee issues. That would be something I'd be looking at during that timeframe. So any issues in terms of, if there was anything going on with an employee that I needed to address. Training, any type of education that I need to get or anything like that would be what I would be going for. And then finally, and probably the most important thing would be, I'd be thinking about strategy and a bigger concept.Jonathan:What is it that we're doing here in terms of our overall vision as a practice? What is it that we're trying to accomplish and how are we going about doing that and what have our results been? And then I'll be working on goals that our company could set. They could be actionable and achievable and then tracking the progress of those. And that's what I would be doing in my CEO day. What about you, in terms of working in a bigger medical company, what would be something that you saw your CEO do that was effective or things that you did in the CFO world?Joseph:One of the things that they always did that I always wanted to do weekly was look at the numbers. So certainly, if we have a meeting every Wednesday, that was when I got to visit with the CEO, one of those would be reviewing the monthly results. You're obviously not going to review the monthly results every week, but one of those four meetings would be review and how did we do for the month, the prior month? And how does that stack up to the prior year? And then there would always be something else when it had to do with the numbers, either a vendor contract that came through or an opportunity to purchase a piece of equipment or opportunities for different types of discounts or different ways to do things.Joseph:One of the things that that CEO always wanted to do was they always wanted to know where the numbers were. And we got to where we created this dashboard that also helped them understand where the cash position was. And we did that on a weekly basis. If we take our cash in the bank minus our outstanding credit cards, how much cash do we have today versus last week versus the week before? And then we got to a point where we felt like that number needed to be whatever it is, pick a number, 50,000, a 100,000, 200,000, whatever the size of the business is. Obviously if your accounts payable weekly run is $300,000, then you don't feel comfortable with $50,000 in cash in the bank. So each business is different, but those are the things that our CEO was looking at every week and alongside the other stuff that you already mentioned.Joseph:But I think one of the things is that you've got to have time as a CEO to sharpen the saw a little bit. So Stephen Covey in The 7 Habits of Highly Effective People talks about spending time. If you had to chop down a tree, he'd spend seven hours. If you had eight hours to do it, he'd spend seven hours sharpening the saw, and then one hour actually doing the work. So spending time to sharpen the saw for your practice. I think that's something that I've seen really, really good CEOs.Joseph:And I mean, as you and I we're sitting here trying to run an accounting firm here, and it's very, very easy as you know, to get caught up in all of the day-to-day stuff and delivering client care. How much time do we actually spend getting a chance to take a high level view? And that's something that we've had to as a firm, me and you and the leadership team, we had to get together and say, we need to carve out some time to actually talk about all the stuff that's going on and really work on the business rather than just in the business.Jonathan:Oh yeah, absolutely. Yeah. I completely agree. And so we'll talk a little bit more about little strategy piece and what we think you guys should be listening to, or should be considering in terms of strategy. From a business and financial perspective. We are not dentists. So we're not going to be able to tell you, here's how you should do your treatment notes so that you have really accurate notes for all of your patients, because we don't know what that is. We just know that they exist and I've heard other people talk about them. And I know that those are the things that are out there, but we'll talk about it on a level that makes sense from a numbers and business perspective. Joseph, is there anything else you can think of in terms of challenges that I may have missed?Jonathan:Again, the big ones to me is just the lack of business education, which I hope I've highlighted that it's an issue, but it's not the biggest issue out there. The giant amount of debt that comes up with that. And then the fact that you have to learn while doing and working. Those are the three biggest challenges to me, for people that have never owned a business before and are going to becoming a business owner in the dental field. Again, I'm not including the challenge of overcoming the mental barrier that you need to be a business owner. I feel like that may be a different topic altogether.Joseph:Sure. Well, if I wanted to add number four, I would say that oftentimes a dentist will walk into a new practice, not have ever led a team before. And that certainly is a challenge that you're going to walk into an office, and there are going to be five to 15 people that are all looking to you for leadership. And that's something that we'll spend some time on, for sure, inside of this podcast is kind of developing and honing your leadership skills and how to have those different conversations, how to lead your team well, what is it that motivates people? How do you make sure that you're supervising well and doing well, because at the end of the day people want to work for a good place.Joseph:They want to do something that makes a difference. And all of that really boils down to your individual leadership skills as the CEO, as the head clinician, as the practice owner. So I would add number four and say that's one thing that is vitally important. And as you and I both know the ones that we see the most successful practices are the ones that have a really good leader at the helm.Jonathan:Oh yeah, absolutely. And it's not just leading the employees, it's also leading the patients and your community and everything else that goes along with that too. Yeah. That's a great point. So, and one of the harder things for me in terms of leadership and I've been open with this with my team is that whenever you're thinking about being a practice owner, and you're thinking about all of your employees and things like that, you're thinking of it in more in terms of that machine that I was talking about. You're thinking more in terms of like, okay, I pay them money and they do their part. And that transaction is it, that's all it is, but there's so much more to it than just paying a paycheck. Because if you're just paying them a paycheck then all you're going to get as someone who's there for a paycheck.Jonathan:And if all they're there for is a paycheck, then their time there will likely be fleeting. Lots of really good topics we can talk about in terms of that. And employee engagement and leadership and everything like that. We'll get to you in a future episode. So, yeah. So great talking about different challenges that new business owners that have never owned a business before in the dental practice industry. Is there anything else you want to end on Joseph?Joseph:No, that's great. No, I'm looking forward to doing this with you. Lots of great nuggets inside of that conversation, for sure.Jonathan:Well, thanks so much, guys. We will see you on the next episode of the Tooth and Coin podcast, and I will see you all later.Jonathan:That's it for today, guys. I hope you enjoyed this episode of the Tooth and Coin podcast. If you are going to be a practice owner or a new practice owner, and you're interested in CPA services, head on over to toothandcoin.com where you can check out more about our CPA services. We help out around 250 offices around the country. We'd love to be able to have the discussion about how we could help your new practice. We do specialize in new practice owners. So people that are about to be an owner of a practice they're acquiring, about to be an owner of a practice they are starting up or has become an owner in the past five years. That is our specialty.Jonathan:And we'd love to be able to talk to you about how we could help you in your services with your tax and accounting services. And if you enjoyed today's episode, again, go to the Facebook group. Talk to us about what we've talked about, join in on the discussion, and let's create an environment where we can talk about some of these things so that we can all help each other get through these things together so that this adventure of business ownership is more fun, more productive, and better in the long term. Lastly, if you want access to those resources that we are currently building, just text the word toothandcoin to 33444. That's toothandcoin, no spaces. T-O-O-T-H-A-N-D-C-O-I-N to 33444. Apply with your email address. We'll send you the instructions in the Facebook group. We'll send you the resources when they're available, and we will see you next week.

On this episode of the Dentist Money™ Show, Ryan interviews Jayme Amos, founder of Ideal Practices. Have you wondered if you're cut out to start up a practice from scratch? Or maybe you're nervous about opening your own practice during uncertain times? On this show, Jayme shares stories about those who've taken the ownership plunge in 2020. You'll hear about lending trends, why associates are jumping into ownership from DSOs, and advantages to a startup you may have not considered.

The purpose of your practice--the Why of your practice--can't be overstated. We're happy to have Jayme Amos join us again as we discuss opportunities vs opportunism, the danger of pursuing cost savings, and sticking to your guns during a crisis.

Jayme Amos is the owner and visionary behind Ideal Practices - a consulting group that helps startups create a road map for success. We first met in 2018 at the Delivering Wow conference over our love of TOMS shoes. Since then I've watched him build an amazing business that has gained a ton of respect. Right now, they have the most predictably successful startup practices out there.⁣ We dig into how startups are navigating a post-COVID environment, why he started Ideal Practices and his decision to move his family to Puerto Rico.⁣ Read the Highlights:  www.joshuascott.com/videos/value-over-discounts   GO LIVE is an interview show hosted by Joshua Scott.  Episodes are hosted live every week on Facebook and include some of the dental profession's top influencers and thought leaders.  Learn more about Joshua Scott at https://www.joshuascott.com.

Jayme Amos joins us today to drop some much-needed wisdom bombs about private practice startups and why now might just be the perfect time to seize on a startup opportunity. One of the original dental podcasters, Jayme is a best-selling author, an expert in building practices, and the founder of dentistry’s most popular website for opening dental offices. You can find show notes and more information by clicking this link: https://bit.ly/2Nc0z8S

Jayme Amos joins the show today. Jayme helps dentists best care for their practice so their practice can best take care of the patients. We learn how you "hire for culture", how you attract employees who fit, and why all of this will be impossible if you don't know who you are in the first place. ** http://go.sharedpractices.com/lendeavor

Jordon & Ben speak with Jayme Amos about starting dental practices up and some strategies to grow even if you have been in business for some time!

In this episode, Jayme will have a conversation with three of the country's leading startup demographics experts to share some startup demographics strategies and theories that have created some of the most successful startup practices. Just about everybody would agree that demographics have a significant role to play in the success of a startup. They can either positively or negatively affect a startup. But here's the problem. Most startup practices that struggle know how powerful demographics are, they know how to read the numbers on a demographics' information report, and most of them have even attempted to get a great demographics' ratio, but they still struggle.That's because they don't know what strategies they should focus on or the theories that actually work for startup practices. There have been a lot of misconceptions about demographics and Jayme admits, for example, that a lot of it has been based on the demographics ratio and how it can help a startup practice grow. In his book, “Choosing the Right Practice Location”, he talks about the safest ratio for a startup practice being 2000:1, but he will highlight that an associate dentist cannot rely solely on the math equation around that because it doesn't refer only to the population in an area. Jayme's guests will share the framework and guidance on what associate dentists should look for beyond the ratio including who is an area, who the competitors are, who the potential clients are, the kinds of patients one would actually enjoy to serve, and the kinds of procedures one likes to do. They're also going to talk about demographics studies versus reports because understanding the difference is very critical. There are plenty of associate dentists who go to expensive courses, get tons of information about startups, and buy expensive demographics reports thinking that they can open a start up practice based on the idea that the ratio will keep them safe, but a few months into the practice, they end up bankrupt. That's the kind of experience Jayme hopes to protect every associate dentist from going through, so take your time to ingest the resourceful information in this episode, and then go out and implement it for your success in startup practice ownership.Key Points Discussed:An entirely new perspective on how demographics actually work for startups (01:50)Misconceptions that have led associate dentists down a very dangerous path (05:23)Even doctors who get into good demographics ratios and areas have incredible financial struggles (10:30)Demographic reports versus studies, and their real impact (14:51)A great example why the demographics' ratio is not enough (21:00)Eliminating options by not eliminating opportunities and the pool table demographics (24:48)Looking beyond the ratios at who the competition is and what they're doing (31:46)The concept of the pajama dentist and what it all means (34:23)How false positives in demographics mislead a lot of associate dentists (38:32)Getting the decision right so you can be empowered for the next few decades (44:41)Additional Resources:www.IdealPractices.com/FreeThe StartUp Crew Facebook Group For Associate DentistsIdeal Practices Websitewww.IdealPractices.com/13www.StartupDentistPodcast.com

In this episode, Jayme will do an introduction to demographics for startup practices. Demographics is the study of people and as a dentist, you serve people. If you get demographics right, you'll enjoy serving your patients, your startup will grow faster and you'll become more profitable faster. That's how crucial demographics are and why you must get it right from the beginning. In this introduction to demographics, Jayme will talk about how demographics in dentistry involve lots of data points. There is so much information to consider. Unfortunately, this whole process is simplified to a ratio of the number of dental practices to the population in a given area. This ratio ignores the millions of other data points, that's why you shouldn't pay much attention to it.In this episode and the next two episodes, I share with you unique opportunities that demographics offer and show you how to look at the millions of data points to make crucial decisions. Tune in to this fascinating conversation and understand what demographics is all about.Key TakeawaysWhy it is crucial to get demographics right in the start-up process (01:01)What exactly does demographic mean to a startup dentist (03:50)Why you shouldn't pay much attention to the famous ratio of practices to population (06:38)Should you locate your startup in an area that is growing quickly (14:46)Demographics involve millions of data points and why you shouldn't reduce them to one calculation (18:36)Capturing the unique opportunities that demographics offer (19:24)Additional Resources18 Vital Questions for Startups Demographicswww.IdealPractices.com/FreeThe StartUp Crew Facebook Group For Associate DentistsIdeal Practices Websitewww.IdealPractices.com/13www.StartupDentistPodcast.comGet a free copy of Jayme's bestseller during this year's 1000 Book Giveaway!“Choosing the Right Practice Location” 

In this episode, Jayme and Stephen will do part two of financing for startups. They are going to cover three topics including the twists and turns of how to rank banks, whether it's a good, safe and sound idea to buy a house, and how to identify the fastest path to paying off student loans. When it comes to ranking banks, there are a number of criteria that one should consider when they start to look through things regardless of whether their bank is large, regional, or local. Some of the criteria is the loan requirements which includes the kind of collateral they ask for (if they do ask for collateral) and whether one may be required to make a down payment. The other things one should look into in financing for startups are the repayment structure the bank can offer, the funding amount, and whether the bank understands the market one is in because some banks lend differently in different markets. Other considerations include the rate of interest and when all these factors are sorted out wisely, a startup dentist ends up on the winning side where funding for their startup practice is concerned. The question of buying a house comes up a lot from associate dentists because they can't always tell whether they should buy a house first or build their practice, and Stephen advises them to build their practice first for a number of great reasons that he will dive into in detail.Student debt is a widespread societal problem and it's one of the biggest stresses and concerns for associate dentists in their startup practice ownership journey. Stephen will then share the fastest way for an associate dentist to pay off their student loans, and talk about associate dentists who have had up to $500,000 and $1 Million dollars in student debt, who still managed to get funding for their startup practices. He will dive into the 100% pay-off concept that can help any associate dentist begin working on their future practice ownership, starting today. You won't wanna miss this episode, because you can't possibly find the kind of actionable practice ownership advice that you will get here. Stay tuned!Key Points Discussed:Your own financial preparation and things that you need to consider on a personal level as well (02:16)Ranking banks based upon their approvals (04:08)Looking at a bank's loan requirements and the repayment structure one can get (08:23)The importance of a bank understanding the market one is in (10:42)To buy or build a home or start a practice first (16:32)Laying out strategies for the fastest path of paying down student loan debt (22:18)Some optimism for everybody that has student loan debt (26:25)Accelerating your debt repayment much faster through practice ownership (29:34)The benefits of staying on the income based repayment options for as long as you can (31:56)Additional Resources:www.IdealPractices.com/FreeThe StartUp Crew Facebook Group For Associate DentistsIdeal Practices Websitewww.IdealPractices.com/13www.StartupDentistPodcast.com

In this episode, Jayme will welcome back Stephen Trutter, the President of Ideal Practices and an experienced startup dentistry expert who has been a part of 650+ startups. Stephen has helped raise half a billion dollars in dental funding, and together they will dive into stage 2 of the 13 stages startup journey which covers financing for startups for associate dentists. Their discussion will be based on the structure and strategy of dental financing. Under structure, there will be three parts including rate-and-term, the approval myths, and the silver platter method. In the strategy part of the discussion, they will talk about ranking banks, personal strategy to attain the needed funding, and whether one should focus on home or practice.While rate-and-term is important in choosing the right funding for any startup dental practice, one cannot really look at it from an interest rate and loan term point of view because they can both fluctuate any time based on the market conditions. For example, one might get a great rate on a short term loan, but they then force themselves into a higher monthly payment. The best way to go about it is to focus on the cash flow aspect of it because cash flow is everything. It determines whether a dental practice grows or fails, and Stephen will share tons of actionable advice on what to look at before taking a loan.Jayme will talk about a great numbers strategy in his financing for startups arsenal that demonstrates that an associate dentist can afford a startup practice by just doing six crowns a month. From the math, it's very clear that an associate dentist can comfortably service a $500,000 loan if they did just six crowns a month, which proves that starting and growing a startup practice is not as challenging as it seems. Stay tuned as Jayme and Stephen cover the rest of the topics in the structure side of financing and banking negotiations (including business planning) so you can have the tools you need to approach startup practice ownership wisely. Enjoy!Key Points Discussed:Sharing dental financing wisdom and insider banking information to the tune of half a billion dollars of funding in dentistry (01:36)The best rate-and-term for a startup dental practice (04:48)Having a repayment structure that mirrors what your growth pattern is going to be (10:02)The company that has more cash on hand than most countries (14:46)How to afford a start up practice as long as you can produce six crowns per month (17:04)The things that need to be inside your financial budget planning (22:27)Loan approval doesn't mean the idea for your startup is a good one (28:21)Being prepared to underwriters by understanding what's in your own financial statement (40:04)No debt is not the path or the solution to getting funding (47:02)Reverse engineering the strategy or pre-planning it and building it for your custom situation (51:04)The five factors that need to be in every business plan (53:07)Additional Resources:The StartUp Crew Facebook Group For Associate DentistsIdeal Practices Websitewww.IdealPractices.com/13www.StartupDentistPodcast.com

In this episode, Jayme will share the backstory of the GIVE secret and his own personal backstory to give us a deeper insight into what GIVE is really all about and the power it wields in ensuring a higher level of success in dental practice ownership. A lot of dentists have attempted the GIVE secret but they've not had any results, while others are willing to do it but they feel like it's a costly endeavor. Jayme's backstory will serve a great resolution to that. It all started when he and his cousin started a company (unrelated to dentistry) that went to grow very quickly and was doing a million dollars within the first year.One day as Jayme and his cousin were looking into real estate opportunities, he found out that his brother had passed away in a road accident. In the difficult moments of coping with his brother's passing, he sold his share of the business to his cousin because he didn't feel like it fulfilled him in any way. He enjoyed the fact that the business was making him money but he just wanted to do something that made more of a difference in the world. While trying to figure out what that business would be, he started doing real estate with the proceeds of the business sale and it's in the process of engaging in that business that he was introduced to a dentist who needed help finding a suitable piece of real estate for his practice. That's where he learned a lot about dental practice oriented real estate and it was actually the inception of Ideal Practices. But it wasn't until he figured out the positive impact he could make with Ideal Practices that he actually started it. Stay tuned to learn more about the GIVE process and why it would be such a powerful force in ensuring your dental practice's long term growth and sustainability. Key Points Discussed:How Jayme came up with the GIVE process (05:14)Why he wanted to start a business that also served a great cause (06:39)Helping startups and doing it in a way that matters and changes people's lives (11:46)Is the GIVE process necessary for a startup practice to thrive? (13:23)Additional Resources:The StartUp Crew Facebook Group For Associate DentistsIdeal Practices Websitewww.IdealPractices.com/13www.StartupDentistPodcast.com

In this episode, Jayme will continue his conversation with Stephen Trutter, the President of Ideal Practices and an experienced startup dentistry expert who has been a part of 650+ startups. Stephen has been instrumental in the acquisition of half a billion dollars in dental financing for dental startups all over America. They will dive into the R in the KRG framework which represents what a practice is Known for, Remembered by, and what they Give. Figuring out the KRG is the single most important thing an associate dentist can do when they're trying to set up a dental startup because it helps in shaping their entire private practice ownership career. The R is crucial in determining how a dental startup owner will be remembered even after they're no longer in the industry. It's about focusing less on equipment, flooring, and operation size, and more on the impact a dental practice can make on a community, because people don't remember equipment and flooring, they remember community  leaders who better the lives of others. In terms of the G in the KRG, an aspiring dental practice owner should ask themselves what they want to give their community. This is something that goes beyond the walls of a practice and a dentist's clinical skills, because it's about what a practice owner supports in their community. A great example of that is TOM Shoes and how their business supports people in need by giving away a pair of shoes for every pair of shoes that is bought. It's going to be another resourceful episode as Jayme and Stephen cover everything about the R and G of the KRG framework that will help any aspiring dental practice owner become a success in the industry.Key Points Discussed:Establishing balance for startup practices (01:02)The things that make practice owners happy in their ownership (03:00)What are you going to be remembered by within the community? (08:40)All the decisions you make for the rest of your career should be aligned with something (15:10)The value of being known more for your values than your products (20:35)How Nike loses when consumers understand the values of TOMS Shoes (23:00)Aiming for a cause that matters to you on a personal level to promote your practice (28:48)If it's not authentic, it will crash and burn (31:04)Aligning your gifts with something that doesn't look good to others when they visualize you, but what makes you feel good and authentic in your community (36:22)Demographics, proper funding, and real estate 101 (43:09)Additional Resources:The StartUp Crew Facebook Group For Associate DentistsIdeal Practices Websitewww.IdealPractices.com/13www.StartupDentistPodcast.com

In this episode, Jayme will welcome Stephen Trutter, the President of Ideal Practices and an experienced startup dentistry expert who has been a part of 650+ startups. Stephen has been instrumental in the acquisition of half a billion dollars in dental financing for dental startups all over America. The two will start off by diving into the two things an associate dentist should avoid when they want to start a dental startup, and that is banking and real estate.A lot of consultants in the startup space advice potential startup dental practice owners to engage their banks for financing and look into the real estate opportunities available to them, but these are the last things that an aspiring dental practice owner should be looking at because they amount to “Putting the cart before the horse” Jayme and Stephen will share the proper first steps one should take to start a dental startup, and how one should focus mainly on vision. When it comes to dental practice ownership, vision is critical for success. And there are both tangible and intangible aspects of vision. The tangible aspects refer to the real estate (inclusive floor plans), the equipment, the money to be made, and others, while the intangible aspects refer to the fulfillment that a dentist will get from the practice. The intangible aspects are what one should focus on first, by first of all envisioning the kind of reputation they will want to have in their town (where the practice will be located). With that, they can be able to plan out everything else with regard to the successful operation of the practice and the positive impact it can have in the lives of patients. Jayme and Stephen will also share real-life examples of dentists who applied that and succeeded in building million dollar dental practices. Stay tuned for that and more.Key Points Discussed:The two pieces of advice that are horrible for a startup (01:19)Pointing your compass down a customized path for you (04:44)Guiding half a billion dollars of dental financing into dental practice startups (09:21)Having a practice that is fulfilling to get to the top of the Mount Everest that is your startup (13:37)The intangible vision foundation for your first step (16:45)Pre-planning your reputation and writing down what that looks like (26:47)The danger in leaving things to chance and not getting clear on the vision (29:55)Getting the clarity to get from the idea to the grand opening (39:02)Having potential clients understand what you stand for even before you have a sign on the building (40:08)The importance of having a team that will mirror your reputation (43:16)Additional Resources:The StartUp Crew Facebook Group For Associate DentistsIdeal Practices Websitewww.IdealPractices.com/13www.StartupDentistPodcast.com

In this episode, Jayme will officially initiate the startup practice masterclass for doctors considering setting up their own practice, and he will start by diving into the first P of the three Ps he unveiled in episode one, which are, Practice, Profit, and Purpose. Practice refers to the act of opening up a practice and Jayme will share and discuss the 13 stage guide that it all boils down to. He will also talk through the biggest mistakes that startup practices make and reveal the three big promises that one must ensure they're fulfilling.The first promise is clarity, and it's all about one being clear on which choices are the best for them when they're setting up a startup practice, and what's actually working for startups in the industry (not theories or ideas). The second one is confidence, and it refers to a doctor's personal confidence in themselves and their entrepreneurial capabilities as they start their practice. Entrepreneurial studies on successful business owners in and out of dentistry have shown that the top priority for an owner is for them to maintain and protect their confidence.The last promise is good decisions, and Jayme's core goal is to really empower aspiring startup practice owners to make good decisions by sharing hundreds of case studies of successful practice owners, and introducing the top minds in startup business in general. The 13 stage guide of starting a startup practice that Jayme will share include vision, financing, demographics, site selection, design and floor planning, equipment selection, construction bidding, permits, marketing/hiring/startup MBA, construction commencement, equipment installation, dress rehearsal, and grand opening. Succeeding in all the 13 stages and avoiding the major mistakes that startup practices make will define just how successful an associate dentist will be with their startup practice, and Jayme will gladly share all his wisdom on those topics. Stay tuned for more.Key Points Discussed:Where to begin with a startup practice and the things to consider to succeed (01:05)All the plans, strategies, systems, sequencing, and concepts that one layout to open their startup practice successfully and cut out the risks (03:21)Increasing your level of confidence about which next steps are right for you (06:36)The number one mistake that most startups make that we must avoid (09:19)Standing in the building and seeing your name on the door (16:45)The biggest mistake that associate dentists make as they're considering opening startups (18:51)The ideas that we hear about in different settings are not relevant for startups (23:14)The financing problem that can be avoided in advance (28:52)Sailing with the family, having an awesome time, and what it can teach us about starting a practice (31:53)Joining the startup crew of just associate dentists who are going through the journey together (38:55)Additional Resources:Ideal Practices Websitewww.IdealPractices.com/13www.StartupDentistPodcast.com

In this episode, Jayme will dive into what The Startup Dentist podcast is all about. He will introduce it as the masterclass made just for doctors considering startup practices and share some of the questions the podcast will answer for aspiring dental practice owners. A lot of doctors dream of owning their own practices but they never take any steps towards that because they feel that startups are too risky, or hear stories of doctors who failed in their startups and were even left in financial ruin. Others will actually make the move and start a practice, but they never get to enjoy what they've created because they set it up the wrong way.Jayme will talk about how he will share case studies and trainings, and introduce top experts in the country who have helped open practices with hundreds of patients in order to demonstrate just how worth it startups are. He will also discuss the three Ps, namely practice, profit and purpose, which will minimize everything about setting up a great practice down to one simple topic. Just to share a very brief overview of the three, practice refers to the actual building where a practice can be located and the 13 specific steps that need to be followed in order for a potential dental practice owner to build a great business plan. They include the financing, strategies, demographics, floor plans, the real estate, construction, and all the required pieces to build a practice. Profits refer to being profitable by delivering real care while purpose is all about having a practice that stands for something. If you're an aspiring dental practice owner, this podcast is just right for you, and Jayme promises that you're going to have an incredible journey through the master classes ahead that will for sure help you go from idea to opening day with a startup that matters. Stay tuned for more and enjoy.Key Points Discussed:84% of students and associates desire to own a practice (01:01)The average established practice in America sees 20 to 30 new patients per month (04:08)Structuring a practice of values, not just discounts (09:15)Having a practice that your team members commit to, not just for a paycheck, but for a purpose (11:07)Having the standards that deliver incredible care based experience (12:59)Additional Resources:Ideal Practices Website

Featuring Dr. David Phelps, Jayme Amos, Jonathan VanHorn, Dr. Desiree Yazdan & Dr. Sunny Pahouja It's time to start thinking about and planning for the return of dentistry! Dr. David Phelps, Jayme Amos, Jonathan VanHorn, Dr. Desiree Yazdan and Dr. Sunny Pahouja join Rob Montgomery, Esq. and Dr. Paul Goodman to share their insights and forecasts as to what dentistry will look like post-COVID-19. Hear their great insights into: changes in office efficiencies, the cost of heightened infection control, the importance of being focused on the business of dentistry to stay relevant, the unique opportunities for start-up dental practices, grassroots social media marketing, the importance of patient communication, and more! Here's how you can learn more about our guests: Dr. David Phelps - www.FreedomFounders.com Jayme Amos - www.IdealPractices.com (To check out Jayme's new podcast, www.StartUpDentistPodcast.com) Jonathan VanHorn - www.ToothandCoin.com Dr. Desiree Yazdan - Instagram @DrYazdan Dr. Sunny Pahouja - The Dental Investment Facebook Group Stay safe! Stay sane! Listeners who want to reach out to Paul can do so at paul@dentalnachos.com, those who want to reach out to Rob can do so at Rob@RMontgomery-Law.com.

Welcome to the beginning of The Startup Dentist podcast hosted by Jayme Amos. Learn more at: https://idealpractices.com

On this episode of the Dentist Money™ Show, Reese interviews Jayme Amos, founder of Ideal Practices, a leader in helping dentists create successful startup practices. Jayme reveals how his own business found an altruistic vision that added greater personal purpose to his work, and created a more unified office culture.  You set the bar for office culture, but also how you're going to serve your community. It's a responsibility that can actually help create a better world … and workplace.

On this very special, two part episode Russell asks his inner circle to weigh in on the biggest marketing secrets they have learned over the past decade. You will hear from the following people on part one: Peng Joon Andrew Argue Rachel Pedersen Joshua Latimer Pedro Adao Jayme Amos Jaime Cross Annie Grace Alison J Prince Ryan Lee Stacey Martino Bart Miller Julie Stoian So listen here to get this amazing, valuable marketing advice from some of the top marketers out there right now. ---Transcript--- Hey, what’s up everybody? This is Russell Brunson, welcome back to the Marketing Secrets podcast. Alright, I’ve got a special treat for you guys over the next two episodes. So the new year started and New Year’s Day I was sitting, we had my family up at the penthouse and we were just hanging out and relaxing and you know, I relax for about 30 seconds, then my brain starts thinking, what’s the next, what’s the plans for this year, what are we going to do? And I started thinking, you know, we know this was the end of a decade, and a new decade is starting. And I just started thinking about over the last 10 years, what are the biggest takeaways, what are the biggest aha’s and things like that, that I’ve had in my business? And then all the sudden this idea hit me, look, I know the things that, the big aha’s that I’ve had. And I’ve been, I talk about them on the podcast all the time. But I was like, I’ve got this amazing inner circle group of entrepreneurs who have been working with me for the last 5 or 6 years. Each of them paid, in the beginning it was $25,000 a year, towards the end it was $50,000 a year to be part of the program. And we had 100 entrepreneurs in it and I was like, you know these guys have been around me for a long time, they’ve been in the trenches, they’ve been doing this in their businesses. I thought how much fun it would be to hear what their biggest marketing secret was, their biggest takeaway that they got themselves over the last decade in their businesses. So I have a Voxer group that has all my inner circle members and I Voxed them and said, “Hey, just curious what’s your number one takeaway, what’s the biggest marketing secret that you’ve gotten over the last decade in your business that’s helped the most? If you guys could voxer back the responses to that, that’d be awesome.” And from that I got, I think almost 20 people sent back responses and they were amazing. So I thought how much fun to turn that into two episodes. So we’ve got two episodes for you guys that are going to be revealing the top marketing secrets from my inner circle members. And each one’s got a different thing. I told them to try to keep them under 3 minutes, some people were, had a lot of brevity and did it in less than a minute, others struggled and got in 3 to 4 minutes. But each one had a unique idea, a unique piece of gold for you. So I’m really excited for these next two episodes. And it’s interesting, as you listen to them, I’ve been teaching this stuff for the last decade and a half and there’s tons of things we teach and that we talk about and brainstorm about, mastermind about, and it’s interesting looking at each person, even though all of them have built huge 7 and 8 figure businesses, each of them had a different thing that was the big marketing secret, the thing that knocked down the big domino for them. And you’ll see some things amongst the inner circle members, other people they’re completely different things. But as a whole it was fascinating just to see what they’re all, what each of their biggest takeaways were. So what I’m going to do is this episode and the next episode we’re just going to play through those, each one is 3 to 5 minutes long, giving their marketing secret. Most of them followed the instructions and said their name and their website url, so we would have those. Some of them didn’t, so the people who didn’t state their names, I’ll jump in ahead of time and let you know who they are, and then we’ll plug in their thing. So with that said, I’m going to queue up the theme song and when we come back, we will start with the first marketing secret from my inner circle members. Peng Joon: This is Peng Joon and my biggest marketing secret that I learned from the last decade is that every given moment in time, we are building 5 different assets. And in marketing the first asset that we will ever build is the social asset. This is basically the stuff that will sit on social media forever. Many times when people don’t have the clarity as to why they’re creating that technical video on YouTube, why they are doing that Facebook re-targeting ad, why they’re documenting what it is that they’re doing. The reason for that is because they don’t know that this is step number one, they’re creating this social asset that can be fed into step number two, which is the digital asset. This is where you build the funnel, you build up the sales process, you build up something that will live on forever, in order to sell the course, the book, the consulting. And the question you gotta ask yourself is, “How can you take what you’re already doing in your life, the presentations, the life event, the consulting, the coaching sessions, how can you document them so that it can be turned into the digital asset that will work for you forever?” So for example, the keynote that I did at Funnel Hacking Live, I did that presentation once, but I turned that into a book, into a recurring that lives on, and is going to live on for a really long time to come. And the whole purpose of that, number two is to then move onto number three in order to create a proprietary asset. This is basically the infrastructure, the tribe, the community, if you think about what makes Apple Apple, if Samsung came up with something that was 3x better, with more features, half the price, chances are I’m not going to shift. Why? Because I’m locked in. I’m locked in and I’m thinking about the inconvenience. I’m thinking about the iTunes, I’m thinking about all of my files backed up in the cloud. Same thing for Clickfunnels. Even if there were 200 different competitors, even if somebody came up with better features or lower pricing, I’m not going to switch. Why? Because of the tribe, because of the community, because of the good will Russell, you have given to me in the last decade. That’s what locks people in, and it’s something that I’m thinking about all the time. And that brings us to number four. Number four is creating of systems assets. This is the SOP’s, the Trello boards. This is why I document what I’m doing on YouTube, Instagram, the steps on social media. Why? Because I’m constantly working on removing myself from the business so that I can work on the business and not in the business. And finally, that is all pushed to number 5, the capital asset. Understanding that ultimately why I’m building all these things is to build up capital. This could be office space, this could be property, things that generate positive cash flow, which then can be used back to step number 1, which is to fill social asset. And when you have this big picture, as to understanding why it is that you do what it is that you do, you’ll be able to have the big picture and have clarity on every, what you work on every single day. Andrew Argue: Hey it’s Andrew Argue from Accountingtax.com and I wanted to share my biggest marketing secret that I learned in the decade. And you know, I was kind of struggling coming up with this because I actually learned pretty much everything I know about marketing in the last decade, because I’m not really a marketer, I’m an accountant by trade. But when I think about the biggest thing I learned, that made the biggest difference, you know, a lot of times when people are doing marketing, they’re doing something that looks good, or something that feels good and they’re putting it out there, and it’s like a brochure maybe, or maybe like a Facebook ad, and they don’t really know exactly what the return on it is. So myself being an accountant, when I first started doing marketing I really had no idea what I was doing until I finally started actually calculating out what specifically what I was getting for what I was doing. So I would look, “Okay, what is my cost per click?” so what was the cost per click for somebody to come to my website? And I would know that number. And I started looking, “Well some of these people are coming to the landing page and then they’re opting in, what percentage of those people are opting in? That’s my landing page conversion rate.” So I would look at my cost per click. Let’s say my cost per click was $4, and then let’s say that only 10% of people were opting in, so that means my cost per lead was $40. Then I’d say, “Okay I spent x amount of dollars on Facebook or Google or something…” and I was getting leads for $40. Okay well then, where were those leads going, they were going next stage to book an appointment. And what’s my cost per appointment? Only 10% of people that became a lead booked an appointment. So that means $400 was my cost per appointment. And then how many people would I close? And I think until I really put those kind of metrics, the cost per click, landing page conversion rate, cost per lead, conversion from opt in to appointment, and the cost per sale, until I really put those metrics on it, I just never really felt confident in doing more marketing or spending more money, because I just didn’t really know what I was getting. So I mean, I learned so many things on the art and how it all works. I mean, obviously Russell’s done a tremendous job teaching me a bunch of different things about marketing, hook, story, offer, a ton of different things. But I really never felt comfortable to pull the trigger, and now we probably spent 6-7 million dollars on advertising over the last few years alone. So that’s probably the biggest thing I learned in the decade, hope that’s helpful. Rachel Pedersen: I’m Rachel Pedersen, the founder of the Viral Touch digital marketing agency and Social Media United, the leading online training for social media managers.  Now I haven’t been in entrepreneurship for a decade yet, but over the last decade I definitely learned a lot about social media and attention spans. We’re in a time where technically speaking, attention spans are at an all time low. Or at least, that’s what we’re being told. The interesting thing that most people don’t realize, sorry you’re going to hear my son in the background, welcome to mom and entrepreneur life balance. So what I’ve discovered is that if you can grab someone’s attention within in the first 10 to 15 seconds, you have them. So many of us spend time watching TV shows or movies, you know Netflix binging for lack of better words, but how is that we decide what we’re going to Netflix binge? Well the chances are it happened because of a trailer. We stop, we look at the thumbnail, we give it about 10 to 15 seconds to decide if it’s worthy of more of our time. The most important thing that you can learn to do for your business, especially in this time where people are becoming increasingly discerning about what they’re going to allow their time to be spent on, is to truly know your message, really, really, really get it. Can you make your point clear in 10 seconds? Can you explain your business in the 15 second video or conversation? For me, jumping onto tiktok was such a great lesson and truly a test of if I understood how to grab attention in 15 seconds or less. And for me it’s a daily practice reminding me how to capture attention and ultimately harness a following that says, “Not only did we like that 15 seconds, but we want more. We want to binge watch all of your content.” So now is the time to truly understand how to capture attention. We are after all in the attention economy, and those who grab it in the first 10 to 15 seconds will be the ones that ultimately are binged over the next decade. That’s definitely what I’ve learned over the last 10 years of being on social media. Joshua Latimer: Hey what’s up? Joshua and Ashley Latimer from honorandfire.com. The biggest marketing secret I’ve learned in the last 15 years is really easy for me, and it’s relationship marketing. It’s looking at your business like a marriage instead of just a wedding, which is a weird analogy. But people are super, super short term minded with their business, and in today’s climate with the internet, people want to get a Two Comma Club award, or make a million dollars as fast as possible. And desiring that is not wrong, but from a sustainability standpoint, what I’ve found is that when you solve real problems by providing real quality solutions and services, it’s really, really hard to fail a business. But it takes a little bit longer when you play the long game. So that goes for your relationship with your employees, your relationships with your dream 100, relationship with your business partners. My biggest marketing secret has been to slow down, try to have massive integrity, so real problems, and play the long game rather than just getting the ad that converts or getting that offer to do awesome in that one launch, it’s really, really hard to fail when you focus on the marriage, and not just the wedding. And in business I see a lot of people really excited to launch something or to get their funnel done, and they need to spend more time on making sure that they’re solving a real problem with a quality solution, whether it’s a product or a service, because at the end of the day, money is a natural byproduct of solving real problems. And if you slow down and listen to Tony Robbins, Tony always says people overestimate what they can do in a year, and underestimate what they can do in a decade. If you can be one of the people that realizes that, I think it will help you. And Russell, you’ve helped me. And hopefully that adds value to listeners of your podcast. Pedro Adao: Hey Russell, this is Pedro Adao, I’m in the inner circle. Man, so many but the one I think that I have probably leaned into the most, and has really I think, helped me kind of blow up on movement, is just really going deep into the niche. Going deep into your client avatar and really leaving that red ocean and finding an underserved, or unmet needs, carving a niche so tight that only you can fit in. That’s kind of a phrase that I’m now saying a lot these days. So that’s the big thing, that’s been a game changer for me. It’s allowed me to find my place of uniqueness and really not feel like I’m actually competing at all with anybody, because I’m really serving this really micro audience. That’s been a game changer. And then tactic is challenges. Man, I saw, it was at FHL last year I saw Natasha teach on challenges and I took the free masterclass concept I learned from you in Expert Secrets, I was doing free masterclasses and doing well with those, and then heard about paid challenges, and we’ve been doing  pretty much a paid challenge every single month since then and I just recently used a paid challenge to actually win a major launch for Pete Vargas, came in first place ahead of some pretty serious guys. So I have a great testimony around challenges, I’m happy to share as well. So that’s, those are my two big keys, which is carve your niche, find a great market that’s underserved, and then show up and deliver value and prove your work through challenges. Take all the risk upfront before you ask them to buy. Hope that helps, bro. Take care. Jayme Amos: My name is Jayme Amos, CEO of Ideal Practices, we’re the country’s largest startup dental consulting firm. In other words we help dentists open startup dental practices. The number one marketing secret for me over the last decade, that I thought I understood, was being able to serve a niche. So to trick myself into understanding this better in the last decade, and the way that this has made the biggest impact in myself and in my consulting company and in the industry where I serve, is to describe it as a niche of a niche of a niche. Now here’s what I mean, you’ve probably heard me say that I help startup dentists. Well, I help dentist, I do, but only younger dentists. Usually doctors who are working for someone else, and only even in that subset, startup dentists. They can buy a practice, they can partner with a practice, but we only help startup dentists. So what does this mean for you? Well, a niche of a niche, of a niche, well here are the benefits that it’s helped me be able to achieve. I’m able to now speak so clearly to the people that I’m trying to serve best. So I can make the greatest impact with those specific people. But not only am I able to speak to them clearly, I’m also able to understand their pain points. And not just the pain points of dentist, not just the pain points of young dentists, or associates who are working for other dentists, but just those young dentists who desire to open startup practices. This allows us to serve them really well. But one of the aha moments that I’ve had, that I think Russell even taught me back when I was first an inner circle member, I don’t know, 3 years ago or something. He told me this, I thought I understood it, and it’s taken me even more time to fully understand this niche of a niche of a niche concept, and it’s this. When I’m able to understand them best, when I’m able to niche down best, I also am forced to find where they are. Now that sounds easy on the service, but when I’m forced to find where those people are, I’m also forced to find the places that nobody else knows about, where I can have the greatest impact. And guess what? There are fewer competitors there. And I don’t even mean just in my case, a startup dental consulting forms there’s competitors, I mean the competition of noise. I mean the competition of advertising dollars. So think of noise, whether it’s a newspaper ad, or a magazine ad, or a Facebook ad, there’s other noise for people’s attention that aren’t even direct competitors, but it’s competition for noise. And when I find the place where those people hangout, there aren’t many other people there. So I’m able to be one of the loudest voices in one of the smallest pockets in this niche of a niche of a niche. So my encouragement to you, one of the biggest aha marketing moments that I’ve had through Russell Brunson, through Clickfunnels, through my time as an inner circle member is this. Find your niche, but trick yourself and remind yourself that you can be even more powerful with a niche of a niche of a niche because you’ll be able to speak to them best. Serve them best and find those pockets of opportunity where you can have the greatest impact at the lowest cost. So I hope this serves you well. My name is Jayme Amos, CEO of Ideal Practices, number one consulting firm for startup dental practices in the country, and so much of this is the direct result of Clickfunnels, of Russell Brunson’s guidance, and being an inner circle member. Hope this is helpful to you as you grow how you impact others. Take care, bye, bye. Jaime Cross: So this is Jaime Cross with Migsoap.com and the greatest marketing discovery I’ve made in the last 10 years and have used in our business is story selling. It is, story is transcendent and Philip Tollman said that after nourishment, shelter and companionship, stories are the thing that we need most in the world. So there’s also a really great story about a journalist who purchased 200 items on ebay for $129 and he wanted to do an experiment, and he turned around and sold those same items for $8000 including story. So our fortune has been found in our follow up with story and then we incorporate into our description. So as an ecommerce company we have been able to maximize profits by leveraging story. You know, even with our pounce product, it’s kind of funny because I wrote like a mini romance novel. So I’m not just talking about the product, I’m actually making this story that every woman wants to be in come alive on our website. So we’ve done that with all our products and I’ve got a lot of really great ideas about story. You know, there’s an art and science to it as well. So it’s a great way, because there’s a psychological and chemical reaction in the brain when you hear and tell stories, it connects you to your audience, so it’s a really great way to build strong relationships and strong bonds with your followers and with your tribe. So I love story selling and I’ve got some really examples here too, but your brain on stories is like on fire compared to just listening to you know, features and benefits in the typical old way or traditional way of describing products. Annie Grace: Hey, this is Annie Grace from This Naked Mind, and my top marketing secret of the decade is probably the simplest one, but it’s so incredibly effective. And it’s really all about consistency. So I actually started a podcast right around the same time that people in the UK, a group that was doing basically the same thing I was doing started a podcast. And they came out of the gate like, over the top with guests. They had Gretchen Rubin, they had John Lee Dumas, they had Ryan Holladay, they had Hal Elrod, they had all these crazy guests and they got all these downloads and all this press around their podcast, and it was incredible and I was like, “Oh my gosh, they’re just smashing it. It’s amazing.” And then over the year I just kept going, my podcast was just the people who read my book. And I’d publish every Friday and every Saturday, but I never ever missed a day. And over the years these guys started missing a few here and there, and then they took a break, and then they came back, and then they took another break. And if you fast forward 2 years now, my podcast has 3.5 million downloads, and they’re nowhere close. So the consistency of just showing up every single week. I’ve now done a newsletter every single week for over 400 weeks. And the consistency of just showing up weekly and just doing what you say you’re going to do really pays off in the long run. It reminds me of the tortoise and the hair. So that’s my best marketing secret. It’s not really a secret. But just do what you say you’re going to do, if you’re going to do a weekly podcast or twice weekly podcast, make it happen, make the commitment, make it work into your life. Same with a newsletter, same with your emails, don’t pop up and then drop off again, because there’s no faster way to lose trust. Alison J Prince: Hey Russell and the Marketing Secrets podcast listeners, Alison J Prince her from Alisonjprince.com. I went from a junior high teacher to building 4 multimillion dollar businesses with 4 kids at my feet, but found my greatest success was watching my 10 and 13 year olds gain confidence in themselves as they went on to sell their first 6 figures before they even stepped into a high school. I am the host of the Because I Can live podcast where I show you what it takes to set up and automate your own online store using the steps I currently use today, and what I taught my girls. Why? Because I can. The marketing secret that I have been using for a decade and I still use today because it works, and it will work for as long as marketing exists, is teaming up with influencers to help explode your business. Yes, you can start growing your own following, but that can take years. So why not leverage what can accelerate your speed? Now I’m not talking about the get rich quick stuff that’s out there, that’s not what I’m talking about. I’m talking about getting your products in front of an already warm audience, and not crossing your fingers and hoping that cold Facebook ads work. Imagine Taylor Swift talking about earrings she’s wearing on an Instagram story with a simple swipe up for her followers to go and buy. Do you think they would sell? Yeah! Don’t stress in getting Taylor’s attention, that’s not what’s needed. There are a ton of influencers out there who can rock the sales, and they have less than 100,000 followers. And some have even had 2000 followers and they have been known to move sales number mountains. So whatever you are selling there is an influencer who is looking to team up with a business like yours. Influencers have been building an audience for years, so it becomes a 3 way win. Win for you because you make sales, win for the influencer because they make a percentage of the sales, and a win for their followers because they get your really cool, amazing product into their hands. Creating this 3 win-win has been one of my marketing secrets to building online profitable businesses. I hope that helps you crack the marketing code going into 2020. Oh, and one more thing, if you’re sending all that traffic over, make sure you’ve got a Clickfunnels set up so that you can maximize the order cart value. Ryan Lee: Hey this is Ryan Lee from Cashflowtactics.com and wanted to share with you the biggest marketing secret that I learned from Russell Brunson. So over the last decade as I’ve been in the inner circle and studying the art and science of marketing, one of the biggest things, one of the biggest epiphanies that I’ve had is building a business around a future based cause. You know Russell taught us for years all of the presidents maybe forever, the one’s that won {inaudible} on a future based cause instead of an improvement offer. And for too long inside of our business we were focused on features and improvement offers, but as soon as we took everything down and focused on the outcome that our product and our service created for our clients, that’s when things took off for us. So having a future based cause, and the easiest way to implement that for us was really diving deep and figuring out the core desire of our ideal avatar, our ideal client. Once we understood their pain points and their desired outcome, we could focus our message on speaking to both that pain and then the future based outcome for our clients. So for us at Cash Flow Tactics, we built our business around empowering people with money to become financially free in 10 years or less, and our tagline that’s really driven massive amounts of business has been “Rise up, Live free.” So something very simple but it speaks to our ideal avatar in the sense that they want control. It’s a future based cause to rise up, choosing differently from where they’re at today, so that they can live free. And all of our marketing is based around that, both from the possibility as well as speaking to the pain. So good luck in 2020 future based cause is where the gold is at. Stacey Martino: Alright hey there everyone on Marketing Secrets podcast. I’m Stacey Martino, my husband Paul and I are the founders of relationshipdevelopment.org , and I’m happy to come in and share one of our biggest marketing secret strategy that we’ve learned in the last few years, and that comes down to something that Russell shared with us probably the first or second time that we ever met him within inner circle. Like many of you, Paul and I were stuck in that place of look we have this amazing solution, we know we want to make as many people know about this as possible. Everyone deserves to know about the solution that we have, ours is for relationship, yours is for whatever it is that you do, and I’m sure you’ve had that feeling at one point or another, “I want everybody to know about this. This s so good.” So Russell said, of course to us, “Hey, you’ve got to do a podcast.” Because love to listen to podcasts. Hence, we’re all listening to marketing secrets podcast. And what I did in that moment was, “Oh yeah, yeah, yeah, that’s a great idea. Let me put that on my list, I don’t have time to implement that right now.” And I want you to learn from my mistake and catch yourself, because we all do this. “Oh my gosh, that’s such a great idea. I don’t have the bandwidth for that.” “Oh my gosh, that’s such a great idea. I don’t have time for that.” You have to catch yourself because one of the biggest strategies you could ever take away from this is you won’t get results from something you don’t implement. We have to implement, it doesn’t matter how many great strategies or ideas we have, we have to actually take action and get it done. So fast forward some time, we actually did make the Relationship Transformers podcast last year, it’s been catching like fire, it’s everywhere, it’s spreading, it’s doing everything we wanted it to do and more. And there’s two podcast strategies that have worked for our podcast that I really want to share with you. One Steve Larsen taught to us, which is to take your 3 Secrets Webinar and turn it on it’s side, and the first 4 or 5 episodes of your podcast is you doing like 20 or 30 minute chunks of your 3 secrets webinar to take them through your pillar content. Who you are, what you’re about, why is this different, what are the three secrets? So we did that, and it has been amazing. And then at the end of eveyr single podcast we share three action items like, “What can you do now to get great results now?” and a call to action. These are three things you can do to start getting results today, and your next step is join our 14 day boost program for your relationship. Whatever the first step is on your value ladder to help them take action. Because not only do you not get results from things you don’t implement, but the people who are listening to you won’t get results from things if they don’t implement. And yes, the podcast is amazing and we want to educate, and we want to inform, but if we don’t help them take that first step and take action, we’re not really serving them. So those are my strategies, I hope you implement them and make this an amazing year. Russell: Alright, the next person who sent a message was Bart Miller and Bart is a man of many talents. He’s the guy who dresses me for Funnel Hakcing Live, but on top of that he runs a huge ecommerce brand, he runs info product brands and a whole bunch of other amazing things. So with that said, here’s Bart’s biggest marketing secret from the last decade.  Bart Miller: The number one marketing strategy for us this year has been using a warranty card that goes into every Amazon box that we send into Amazon, and having people come back and fill that out and getting their email and capturing their stuff, and then putting on that thank you page for filling that out, a order bump for products that they can sell right then and there after they, I don’t know if it’s a bump or an actual sale, but we just take them right to it. Conversions are halving on two different things. One they are obviously coming onto an email list off of Amazon for capturing them, which is awesome. So we’re building a really cool camping list. And the second is that we’re actually selling them something else and the take rate on that right now is about 35%, are taking the next offer, which is a continuity program in the cooking space. So anyway, really cool, but that’s worked really well for us this year, and converted really well for us. Russell: Hey this next one is from Julie Stoian. Julie is no stranger in the funnel hacker, or marketing secrets community. She was a key player here at Clickfunnels for a long time, and I think you’re going to love the marketing secret that she shared next. Julie Stoian: Hey, so I’m going to answer this for you. I think probably the thing that I learned the most or that stuck out to me the most over the last decade is I’ve learned all the mechanics of marketing and I’ve learned the different fields offer, creation, copy, design, but the art of the hook is really something that I learned a ton from you, Russell, and all the stuff you teach, and this idea of pattern interrupt and no matter how great you are, how great your offer is, if you cannot get people to pay attention and get curious, you’re not going to get people into your funnel. So over the past couple of years especially, I’ve started to see, now that I see it I can instantly recognize when someone is marketing without a hook, without a reason or a story or a pattern interrupt. And I looked back over a lot of my writing and all of the emails and sales pages that were the best, I realized had this really curious hook or this crazy story attached to it. So even though I had been doing it unknowingly, once I figured out that that was the key, I started infusing it into everything. Into my emails, my sales pages, my ads, even my social media posts, and this made just a tremendous difference.

Jayme Amos absolutely brought down the house at the Summit with this presentation. With the overarching theme of creating happiness, Jayme gets into how to define your path and create your vision....Continue Reading...

Hey Ambitious Dentists, When my team and I launched the SYDP podcast over three years ago, we had no idea that we would be able to build such an amazing SYDP community. Since launch, we’ve had over 100+ guests on the show, each of which shared their unique take on how to build a thriving and profitable dental practice. Today I’m incredibly excited to share that I recently sat down with our very first SYDP guest Jayme Amos.  Jayme is an incredibly successful dental practice consultant and best selling author as well as the founder and CEO of Ideal Practices. Over the years Jayme has been able to build a massive following in the dental community and for good reason. In our latest SYDP episode, we sat down to talk about what he’s been working on over the last few years, as well as the unique project he recently launched. To the best of my knowledge, this is the first project of its kind in the dental community, and he shares more about what it’s about on today’s show. Here are just a few of the things we cover… What Jayme has learned from producing the dental communities first ever documentary focusing exclusively on startups and growing your dental practice. The current entrepreneurial trends in dentistry, and why they matter to you. How to push through the ups and downs of being a dental practice owner. The pros and cons of starting your own practice versus purchasing one How to balance traditional education and learning by doing as you grow your practice. The hard truth about growing your dental practice and why building a startup is not for everyone. And much more.

Rob and Paul host their amigo and dental practice start-up guru, Jayme Amos, the founder of Ideal Practices, a highly-regarded consulting firm that works exclusively with dentists doing start-up practices. In this episode, Jayme chats with Rob and Paul about the importance of “vision” in a start-up practice and how that “vision” ties into fulfillment. Jayme also talks about the value and importance of dentists having “values-focused impact” in their communities. This episode with Jayme Amos is the first Dental Amigos podcast to focus on mindfulness and is part of the Dentist Well-Being Series of podcasts that The Dental Amigos will host from time to time. If you're looking for Jayme, you can find him at www.HowToOpenADentalPractice.com and via Email at Jayme@HowToOpenADentalPractice.com. Be sure to also check out his new start-up practice documentary at StartupDentist.com. Listeners who want to reach out to Paul can do so at paul@dentalnachos.com and those who want reach out to Rob can do so Rob at Rob@RMontgomery-Law.com.

Jayme has been helping dentists successfully open practices of clinical and financial excellence for over a decade...Continue Reading...

For those of you that don’t know Jayme, he specializes in helping dentists create startups around their ideal life...Continue Reading...

Startup dental practices can be an intimidating idea. Many think you have to have the perfect conditions to reach any level of success or make no mistakes in order to become profitable. Jayme Amos joins the SEID Podcast to bust some of those myths and give us the truth about startup practices. Jayme is the CEO of Ideal Practices Consulting and author of the best selling book Choosing the Right Practice Location. In this episode Jayme speaks on some of the common myths associated with startup practices, the steps you need to take to understand how to create a successful startup, and how to reach ultimate fulfillment as a practice owner in your career. Episode resources: Ideal Practices - https://idealpractices.com/home SEiD Email - seidpodcast@gmail.com SEiD Facebook - https://www.facebook.com/SEiDUNC/ SEiD Instagram - seid_unc

Welcome to back to the Shared Practices Podcast! This week our guest is Jayme Amos! For nearly a decade, Jayme has worked with dentists, caring for their practice success so they can care best for patients. Jayme’s team has helped many dentists looking for their ideal practice. In this episode, Jayme talks about his 13 stages to open a successful new practice. Jayme and George also talk about incorporating vision in your dental practice. Having a vision for your practice allows you to tell your story to your patients and your community. We loved having Jayme on this week’s episode of the Shared Practices Podcast!   Find out more about Jayme’s FREE book visit: https://idealpractices.com/free For more a discount on pair Q-Optics loupes Email: SP16 to sales@q-optics.com Team up with Dental Planet at: https://www.dentalplanet.com/  Be sure to mention “Shared Practices” to receive additional discounts! Our Episode Resource Page where you can find all of the resources from our episodes - for free! Join our Facebook Group! Reach out to George- George@sharedpractices.com   For nearly a decade, Jayme Amos has worked with dentists, caring for their practice success so they can care best for patients. His blend of experiences in Fortune 500 and entrepreneurial settings has benefited hundreds of dentists with profitable practice growth tools and stunning new practice locations. Prior to working with his dental clients, Jayme co-founded and grew a million-dollar recruiting firm, earning him a keen understanding of the needs of thriving small businesses. Through his participation in numerous site selections and lease negotiations, he has become a trusted advisor in dentists' new location projects. Jayme resides in the Philadelphia suburbs and keeps his faith, wife, and children as his life's greatest efforts.

What path should you take to practice ownership – start-up or acquisition? For the past decade Jayme Amos has coached numerous dentists on how to achieve greater satisfaction from practicing dentistry. On this episode of the Dentist Money™ Show, Jayme shares with Reese how personality traits should be factored into business decisions. And he discusses the important differences between starting a practice from scratch, or purchasing an existing practice. As an expert on work/life integration, Jayme also has some suggestions on how you can build a practice that reflects your personal values.

In this episode Jerry interviews CPA Jonathan VanHorn about: "Understanding the Numbers of Your Practice."  Jerry met Jonathan through one of his previous Dentistry Confidential interviewees and owner of Ideal Practices, Jayme Amos.  As always, this month's interview is designed to make you more comfortable with your Dental Business.  Jonathan knows as I do that Dentists get hundreds of hours of education on clinical matters but virtually no business training.  Jonathans a smart chap with keen business acument you'll certainly profit from.  We cannot emphasize enough, how taking notes and listening to our discussion more than once, will return twice as much (literally) or more.  Just a few of the topics we discuss are:  Understanding OverheadTop Line Revenue vs the NumbersMaking Bank/Being BrokeSTOP Pinching PenniesPractice Number BenchmarksAdvertising as an Investment (WOW!  What a concept!)Getting Paid by the IRS to Grow Your BusinessAssociate PercentagesRemember Estate Planning! Costly Errors Dentists MakeAnd much, much more...Support the show (https://jerryjonesdirect.com)

In this episode Jerry interviews CPA Jonathan VanHorn about: "Understanding the Numbers of Your Practice."  Jerry met Jonathan through one of his previous Dentistry Confidential interviewees and owner of Ideal Practices, Jayme Amos.  As always, this month's interview is designed to make you more comfortable with your Dental Business.  Jonathan knows as I do that Dentists get hundreds of hours of education on clinical matters but virtually no business training.  Jonathans a smart chap with keen business acument you'll certainly profit from.  We cannot emphasize enough, how taking notes and listening to our discussion more than once, will return twice as much (literally) or more.  Just a few of the topics we discuss are:  Understanding OverheadTop Line Revenue vs the NumbersMaking Bank/Being BrokeSTOP Pinching PenniesPractice Number BenchmarksAdvertising as an Investment (WOW!  What a concept!)Getting Paid by the IRS to Grow Your BusinessAssociate PercentagesRemember Estate Planning! Costly Errors Dentists MakeAnd much, much more...

The Dental Amigos are excited to host their very first guest, Jayme Amos, the founder of Ideal Practices which is a highly-regarded consulting firm that works exclusively with start-up dentists. In this episode, Rob and Paul turn the tables and talk about Jayme: his business, his approach to working with dental start-ups, as well as the Ideal Practices Start-Up Practice Blueprint. They also chat about the always popular topic: start-up v. acquisition. While Jayme's group focuses on the start-up path to practice ownership, much of the discussion in this episode will be impactful for existing practice owners and those looking to acquire a practice, especially the discussions about being intentional with your business, “practice DNA” (a great Jayme term) and the impact of an owner's happiness and fulfillment with their practice If you're looking for Jayme, you can find him at www.IdealPractices.com and www.StartupPracticeBlueprint.com

Hello ambitious dentists, Have you ever been to a conference or event and have just one speaker blow you away? Not just because of their knowledge of the subject, but their stage presence as well? While recently attending a course by my friend Jayme Amos, I had the pleasure of hearing Teresa Duncan take the stage and share everything she knew about dental insurance. And she was that one “amazing” speaker for me. As a dental CPA, I’m certainly not an expert when it comes to dental insurance, and I found her speech to be both informative and easy to understand. And I knew I just had to bring her on the show.   It’s definitely an interview you don’t want to miss. Here are a few things we cover on today’s show. What Tersea learned from being both an office manager and dental assistant. The biggest mistakes most dentists make when it comes to insurance and the steps to avoid them. The bad habits you can’t afford to have your office managers have. How to identify an all-star employee. And much more. If you’ve been wanting to figure out the insurance game to start the new year, this interview is for you. Now here’s my interview with Teresa Duncan.

Dr Thomas Larkin is a dentist, author, professor, lecturer, and entrepreneur. He has written two books on dental practice management and two books on oral wellness. With a background in clinical preventive dentistry, he brings a unique perspective to the emerging field of “oral systemic practice’”   Most recently he worked as an assistant professor at the University of Kentucky College of Dentistry from 2009 to 2013. For 2 years he was co-course director of the practice management class and developed the curriculum entitle "The Business of Dentistry, A Mini MBA".   In 2016 his MBA course became a part of the pre-launch curriculum for Jayme Amos’s Idealpractices.com, a dental start-up company. He also made several presentations on entrepreneurship nationally for Idealpractices.   In 2017, He is the newly appointed clinical director  at the Productive Dentist Academy and he first project has been the creation of an oral wellness division to help educate and most importantly implement advanced prevention strategies into everyday practice.   www.tomlarkin.com

In this great episode I interview Jayme Amos about: How To Open A New Practice (Plus, Mistakes to Avoid)! No question, this is the most important interview to listen to if you are planning on opening a new practice, and a very interesting reminder of what it takes to open a practice. Jayme is so good at what he does, he is an integral team member of my Franchise, Wellness Springs Dental®! Some of the topics we covered: How to Set Yourself up for SuccessWhat a Dental Practice Should Look LikeThe Importance of the “Where”, “How” and “Why”Common, Costly Practice Opening MistakesAnd, much more. Enjoy and stay tuned for the next episode!  Support the show (https://jerryjonesdirect.com)

In this great episode I interview Jayme Amos about: How To Open A New Practice (Plus, Mistakes to Avoid)! No question, this is the most important interview to listen to if you are planning on opening a new practice, and a very interesting reminder of what it takes to open a practice. Jayme is so good at what he does, he is an integral team member of my Franchise, Wellness Springs Dental®! Some of the topics we covered: How to Set Yourself up for SuccessWhat a Dental Practice Should Look LikeThe Importance of the “Where”, “How” and “Why”Common, Costly Practice Opening MistakesAnd, much more. Enjoy and stay tuned for the next episode! 

Welcome to another episode of the Shared Practices Podcast! This one is a bit of a throwback to season one, but we know you’re going to love it. We have on the show with us consultant/startup guru Jayme Amos, dentist Paul Goodman, and attorney Rob Montgomery. We get into a great discussion about some of the red flags and pitfalls to watch out for as an associate. We talk about the language of contracts and non-competes, when to involve a lawyer during your contract negotiations, and how daily minimums work from both the employee and employer’s perspective. We also have a really great back and forth about the difference between being a 1099 or W-2 employee, and what might be the best situation for an associate. We hope you enjoy this throwback episode as much as we did recording it. Thanks for listening to this week’s episode of the Shared Practices Podcast! Our Episode Resource Page where you can find all of the resources from our episodes - for free! Follow us on Facebook Reach out to Jayme on his website: https://idealpractices.com/home Reach out to Rob: Rob@RMontgomery-Law.com Reach out to Paul: Doctor@penningtondentalcenter.com Jayme Amos is the founder of Ideal Practices Consulting, author of Choosing the Right Practice Location, and host of “Dentistry’s Ideal Practices Podcast.” Jayme has a degree in International Business and has focused his expertise in dental practice startups, focusing on site selection, demographics, financing, construction, floor plan design and profitability.   Dr. Paul Goodman is a graduate of the University of Pennsylvania School of Dental Medicine, and has been practicing dentistry for over 10 years. He works with his brother in two locations in Mercer County, NJ. Dr. Goodman has purchased three dental practices and shares his personal experience with retiring dentists in managing the expectations of their patients and team members during the transition process. He is the founder of Rising Dentists Study Club and Rittenhouse Consulting, LLC - both in Philadelphia.   Rob Montgomery has been serving the individualized legal and business needs of dentists, dental practices and dental service organizations for over 20 years.  Rob has worked on hundreds of dental deals, ranging from practice start-ups to complex practice acquisitions involving multistate practice locations. Rob focuses his practice on the legal and business needs of his dental clients, advising on the formation of business entities, practice start-ups and lease negotiations, buy-ins, partnership agreements, practice acquisitions and sales, and much more.

In this episode Dr. Hunter Smith shares his methods of determining the range of values that you should consider for a practice acquisition.  He also shares why demographics are just as important for an acquisition as they are for a startup and how location plays into that.  We go through all the levels of profitability that can be used to determine the final value of a practice. Links Mentioned on the Show BreakawayPractice.com https://dentagraphics.com/ Jayme Amos’s book, Choosing the Right Practice Location   Guest Bio Hunter Smith DDS is a 28-year-old general dentist in Jonesboro, Arkansas. He graduated from the University of Tennessee College of Dentistry in 2014. Soon after, Dr. Smith bought his first practice. After successful management and system changes increased that already successful first practice by 46% profitability in just 1 year, Dr. Smith grew to enjoy learning about the business of practice ownership and ways to improve clinical, business, staff, and patient relations. Building upon the early success, Dr. Smith joined up with a long-time best friend and fellow dental school graduate, Will Little, to form Southern Dental Group in October of 2015. Since forming SDG, Drs. Little and Smith have acquired an additional 5 locations in the last 18 months.   Thank you to our sponsors! SpearEducation.com Mention the podcast for a 30 day trial Use the promo code LOW200 for $200 off your annual membership Formlabs.com/SharedPractices  Checkout the many applications of the Form2 in dentistry and request a sample surgical guide

[audio:http://traffic.libsyn.com/takacslearningcenter/TDS249.mp3] Podcast: Download | Play in new window/mobile device Running Time: 66 minutes There are some so called experts that will tell you that it is no longer possible to open a dental practice from scratch. However, our guest on …  

Jayme specializes in helping his consulting clients develop elite, rockstar practices in the face of corporate competitions and changing insurance regulations. There is a right and wrong way to go into business and today Jayme is providing actionable information to help you determine whether business ownership is in your future. If you're wondering what direction to take your dental career, Jayme can help you clarify whether opening a practice is a logical next step. You can find show notes and more information by clicking here: http://bit.ly/2dO2kL6

Jayme is back!  This time to discuss when prospective owners should start a practice from scratch.  He also gives advice on when dentists should lean toward acquiring an existing practice.   Dr. Dave and Jayme discuss the upcoming Practice Blueprint Courses in Las Vegas, Miami, and San Antonio: https://idealpractices.com/course Listeners have a unique and valuable opportunity to win a scholarship to this course.

Listen or Subscribe on iTunes     Welcome to another episode of The Dentalpreneur Podcast. Joining us today is Jayme Amos. Jayme is founder of Ideal Practices Consulting, author of Choosing the Right Practice Location, host of “Dentistry’s Ideal Practices Podcast” and host of the upcoming events “Startup Practice Blueprint” to be held in San […] The post 047: Jayme Amos – Building The Ideal Practice From Scratch appeared first on Dental Success Institute Blog.

Jayme Amos, founder of Ideal Practice, shares detailed, calcuated information about how to start a practice. Every dentist who's opening a practice needs to hear this!     Jayme Amos is the founder of Ideal Practices, Dentistry’s consulting firm dedicated to helping dentists open new practices with clinical and profitable excellence. He is the bestselling author of Choosing the Right Practice Location, host of the Dentistry’s Ideal Practices Podcast and founder of HowToOpenADentalOffice.com  Jayme’s firm works across the country helping dentists open practices that give them the control, freedom and income they deserve.       www.HowToOpenADentalOffice.com www.IdealPractices.com   jayme@howtoopenadentaloffice.com

Jayme Amos is the founder of www.howtoopenadentaloffice.com, the author of Dentistry's Guide: Choosing the Right Practice Location, and the host of Dentisty's Ideal Practices Podcast. He is dedicated to making dentists' venture into private practice ownership a highly successful one. In this episode he shares the critical steps to opening the dental office of your dreams.