In this episode of Growing a Dental Practice, host Mike Hennan is joined by Jennifer Dreyfus from Cultivate Advisors. Jennifer shares her rich experience as a seasoned entrepreneur and business advisor, discussing her journey in financial planning, corporate banking, and growing a dental company to three locations with over $3.4 million in annual revenue. Tune in to hear Jennifer's insights and strategies for success in the dental industry.

[00:02:31] Change in career direction.

[00:05:33] Business in the dental industry.

[00:09:49] Expanding the dental practice.

[00:11:05] Dental practice profitability.

[00:17:57] Leveraging externships for hiring.

[00:19:02] Dentist recommendations and affordability.

[00:22:58] The role of practice manager.

In the podcast, Jennifer discusses the use of externships as a means of finding individuals who align with the company's culture. Externships allow individuals to gain insight into the company's practices without committing to full-time employment. This arrangement benefits both parties, as the company can assess the extern's fit within the organization, while the extern has the opportunity to learn about the company's culture. By observing the extern's behavior and character, the company can determine if they align with the company's values and work well within the business. If the extern proves to be a good fit, they may be offered a full-time position. This approach helps the company avoid hiring someone who may not fit within the company's culture and ensures a good match before making a long-term commitment.

Jennifer Dreyfus emphasizes the significance of having a practice manager in a dental practice who possesses a strong understanding of business. She advises that while dental experience is not necessary, business experience and knowledge are crucial. Jennifer shares her own experience of working with dentists for nine years without any dentistry background, but she gained knowledge over time. She stresses that the office manager's role primarily revolves around business and that understanding business is vital for the practice's success. Jennifer acknowledges that this advice may be controversial, but she believes it is essential for practice owners to hear. The podcast host agrees, highlighting the importance of business understanding for the office manager's role.

In the podcast episode, Jennifer Dreyfus, a seasoned entrepreneur, discusses the significance of the office manager in a dental practice and emphasizes that dentistry experience is not a prerequisite. Her top advice for anyone considering buying or starting a dental practice is to prioritize hiring an office manager with a strong business background and knowledge.

Jennifer shares her own experience of working with dentists for nine years without any dentistry background. She acquired knowledge about dentistry through exposure to x-rays and repeated exposure to dental practices, but she never claimed to be a dentist. Instead, she aimed to be a business person and believes that a business-oriented office manager is the best fit for a dental practice.

While Jennifer acknowledges that some may find this advice controversial, she believes it is what dental practice owners need to hear. She emphasizes that the office manager's role is primarily a business role, and lacking understanding of business can lead to struggles for both the manager and the practice. Jennifer appreciates the career progression within dental practices, where individuals can start as receptionists or nurses and work their way up. However, she emphasizes that for the office manager position, business experience and knowledge are the most important qualifications.

Overall, the episode emphasizes that while dentistry experience can be beneficial, it is not a requirement for an office manager in a dental practice. Instead, a strong business background and knowledge are crucial for the practice's success.

• 00:01:49 - "So I have a lot of things in my background actually, right?"

• 00:02:48 - "I'm just gonna, if it's not right for me, I gotta try something else and find out where I fit."

• 00:05:33 - "I just need to be the expert in business."

• 00:10:32 - "Yeah, fantastic."

• 00:11:21 - "We had, you know, there was three general dentists, two pediatric doctors, three hygienists, and then an endodontist, periodontist, and oral surgeon all in the same building."

• 00:15:27 - "100% like, yes, that's the part where everybody waits until it's too late."

• 00:19:51 - "Yes."

• 00:20:05 - "The best possible is usually the most expensive."

• 00:23:08 - "And yeah, I think that's a fantastic piece of advice."

• 00:25:18 - "Bye bye bye bye bye for now."

Jennifer Dreyfus is a seasoned entrepreneur and business advisor with Cultivate Advisors. She has partnered with a dental company to grow it to three locations with over $3.4 million in annual revenue. Jennifer graduated from an entrepreneurial school and opened a financial firm before moving into corporate banking. Her experience in financial planning and consulting dentists spans nine years. As a business advisor, Jennifer works with business owners to help them achieve their dreams and overcome challenges in their businesses. She emphasizes the importance of strategic partnerships for business expansion and maximizing profit through proper structure. Jennifer believes that the key to a successful dental practice lies in having a strong understanding of business, with the office manager playing a crucial role.

Guest Contact Details

• Website: https://cultivateadvisors.com/
• Email: [email protected] 
• LinkedIn: https://www.linkedin.com/in/jenniferdreyfus/