Are you ready to take your dental practice to new heights and leverage the power of cutting-edge technology? Curious to explore captivating firsthand experiences and invaluable insights from a distinguished dental industry entrepreneur?

In this episode of Dentrepreneur, Dr. D. Todd Russell interviews Russ Baker, an author, a dental industry veteran with 30 years of experience and currently serving as the Vice President of Equipment, Repair, and Supplies for Dental Whale. He grew up in Cleveland, Ohio, where boating on Lake Erie and being a die-hard Cleveland sports fan instilled a sense of wonder, resilience, and loyalty. Described as trustworthy, loyal, steadfast, driven, and funny, he believes that integrity and character are vital values. For Russ, success is living a life filled with love, laughter, and purpose, and he would advise future generations to slow down, appreciate life's moments, cherish loved ones, and find meaning and joy in everyday experiences.

Todd and Russ talk about the importance of procurement of supplies in the dental industry. They will discuss the key areas that dentists should pay attention to when building their practice and emphasize the importance of scaling a dental business, owning multiple offices, and generating passive income. They stressed the need for systems and a clear exit strategy when scaling a business, as it can lead to financial success and the ability to step back from practicing dentistry. Overall, technology and scaling are crucial factors in the dental industry that can lead to success and efficiency.

They will touch on such topics as:

• Learning the business side of dentistry, the cost of goods and services, and what you do at the dental fix. 
• Group purchasing organization, EBITDA, and net operating income, and how important consistency is over time, not just a month or a quarter.
• Russ' startup advice, how to plan an exit strategy, and the five-step process for business mastery and procurement: "The best systems are the ones that are copycat and repeated."
• The sweet spots for bringing on an associate, an emerging, and private equity investment, as well as how Covid-19 and staffing costs affect dental practices: "Dentists are highly resistant to macro-economics."
• What the ideal dental practice is for him, as well as the importance of education in dentistry and how technology helps reduce costs but can be used to spread fake news.
• Who influenced Russ the most, how he progressed from working part-time to full-time work, and how he scaled his business to have a passive income are all discussed.

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Connect with Russ:

• Email: [email protected]
• Website: https://www.dentalwhale.com/
• Phone: 704-776-2533

Connect with Dr. D. Todd Russell, DDS:

• Website: https://dentrepreneurllc.com/ 
• YouTube: @DentrepreneurShow
• LinkedIn: Dr. D Todd Russell, DDS
• Twitter: @drtoddrussell

Quote: 

"Embrace change, because things will change. And that's a good thing. Put your arms around it and figure out the economics of what that is going to be. Change your business model, and be open to new technology."- Russ Baker