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You have a dental practice you’ve built from the ground up. It’s going well, and you’re ready to add on to your operation, but how do you get there?

 

Dr. Mark Costes owns ten practices, is the founder of an extensive network of dental assistant schools across the U.S., and travels the world to educate dentists on how to reach their full potential.

 

He created his coaching company, Dental Success Institute to help dentists increase their revenue while working in their passion. He’s also a fellow podcaster over at Dentalpreneur.

 

Whether you’re ready to take your business to a multi-operation, or just want to hear what it takes from someone who’s currently doing it, you’ll want to listen very closely to today’s episode because you’re in for at least three major eye-openers.

 

Time-Stamped Show Notes

1:10 Opening Announcement: I’ll be attending the Dental Practice Solutions’ Event Friday, June 23, 2017, in San Diego. The event is a course on how to build a profitable dental business, and they’ll teach you simple tools you can implement to maximize the potential of your practice. Debbie Seidel-Bittke, RDH, BS and Doug Fettig, MBA, CPA will be there with expert tips on growing your dental business. I’ll be podcasting at the event, so come and say hi!

4:13 Introduction. Mark gives us his background of his first business as a lunch truck caterer and how it took him three years and 21 attempts to get into dental school. He also talks about his practices, the Dental Success Institute, and his Dentalpreneur podcast.

7:16 Mark talks about how he had to overcome learning disabilities and restructure how he absorbs information to push through to success.

9:45 How his lunch catering truck experience far outweighed an MBA school program in terms of learning business knowledge.

10:35 How his first business taught him tenacity, grit, and how to stick to it.

12:07 Finding Napoleon Hill’s Think and Grow Rich at the age of 16 was a turning point that sent him on a journey of personal development, finance, and entrepreneurship.

13:57 Why reaching his goal of a million dollars profit did not make him happy and why he sold the majority of his practices.

16:42 How he created the Dental Assisting School Company to earn passive income.

17:28 The idea caught on with other dentists and now has 186 school locations in 40 states.

17:50 Having systems in place makes life less chaotic, even though he has much more happening today than in the past.

18:19 Talks about systemization and gives valuable 8-Point Patient Experience system.

19:28 Mark talks about being very intentional with finances.

20:22 Why the E-Myth Revisited by Michael Gerber is like Mark’s bible.

22:46 Discusses staff-dependence vs. system-dependence and which one you want to have.

24:20 The one thing Mark would never do again: Duplicate a location without systems in place and without getting overhead down to 50% or less.

27:57 Why some people are successful at having multiple practices, and some are not.

29:00 How to find good employees and how to determine whether you have a staff problem or a leadership issue.

31:23 Why you should limit negative people and surround yourself with positivity.

32:40 Mark talks morning routines and mentions Hal Elrod’s The Miracle Morning, and Hal’s guest appearance on Mark’s 6-Figure Side Gig Podcast.

36:32 Closing

37:06 Afterthoughts: Mark’s morning routines are very intriguing. What is your morning routine? Do you wake up and rush to work or do you practice things like meditation in the morning? I want to hear.