In this essential episode of Dental Unscripted, co-hosts Michael Dinsio and Paula Quinn dive into a highly relevant topic for every dental practice owner: the scarcity mindset versus the abundant mindset.

They break down how a scarcity mindset (a constant feeling of "not enough" resources, time, or money) can cripple you as a business owner and a person. This mindset often leads to short-term decisions focused on survival rather than long-term growth. Paula shares her personal experience of living in scarcity while running her own practice, sacrificing growth by trying to do all the roles herself.

Learn how to shift to an abundant mindset, which is focused on possibility, trust in growth, and long-term thinking. Michael and Paula discuss:

• The Impact of Scarcity: How fear of loss affects critical decisions, from hiring employees to joining insurance networks.
• The Role of Strategy and Metrics: The importance of basing big decisions on metrics and proper ROI rather than just "gut feeling" to enable confident leaps of faith.
• Leadership and Language: Why the dentist must be the leader and visionary of the practice, using positive, abundant language that inspires the team instead of projecting fear and negativity.
• Bet on Yourself: A powerful reminder that the patient pool is big enough and that no one is better to bet on than yourself to lead your practice to exponential growth.

Stop treading water and start focusing on growth! Get the unscripted truth on why a change in mindset is the first step toward building the dental practice and legacy you've always wanted.

4:00 Scarcity Mindset Defined
5:18 Abundance Mindset Defined
13.31 Behavior Style & DISC assessment
17:18 Decisions Based on Dollar Amounts
21:55 The Cost of Running a Dental Business
25:50 Look at the Numbers & Plan for an ROI
29:01 Negative Communication Patterns
35:24 Leadership & Goal Setting

Review us 🙏 ⭐️⭐️⭐️⭐️⭐️ on Apple Podcasts or Spotify 🎧 - Your feedback helps us bring more unscripted & valuable content to your practice and other on the ownership journey!

WATCH LIVE ON YOUTUBE
https://www.youtube.com/@dentalunscripted

About Mike & Paula
Michael Dinsio and Paula Quinn are Dental Practice Consultants who care!
You can partner with them to turn around and supercharge your practice.
Learn more about what they can do for you here: https://nxlevelconsultants.com/

This episode reveals the buyers’ fears (e.g., Paula Quinn's journey and how she worried about being “stuck” with a bad practice or uncovering hidden issues). We also explore the sellers’ excitement mixed with impatience. Phil Hoover notes that sellers’ feel a relief and joy after receiving an offer, but this is just the beginning. Phil also mentions that both parties can use that anxious energy in a positive way in order to work together on a successful transition. The buyer overcoming fear and the seller wanting to make a deal. We discuss how the LOI sets up the entire process and determines the path forward for both parties moving from anxiety to confidence!

The LOI’s Pivotal Role:
Dive into why the Letter of Intent is essentially a kick-off of a seamless dental practice transition, shaping the journey for both buyers and sellers.

A Buyer’s Emotional Ride:
Paula Quinn opens up about her nail-biting apprehension with uncertainties looming while signing an LOI

Inside the Seller’s Mind:
Phil Hoover discusses the seller’s emotional highs and lows throughout the transition process.

The Good Faith Tightrope:
Explore the delicate balance of commitment vs good faith and why swift decisiveness is critical.

What Buyers Must Know:
Uncover the insights buyers "need to know" focusing on production reports, financials, and clinical focus making a more confident offer without getting lost in the details.

The Broker’s Balancing Act:
Phil shares how brokers can juggle multiple offers, and prioritize the dentist's character over cash, focusing on the ones that foster fairness and a good understanding of how the office does dentistry in order to ensure a win-win for all.

Deal-Breakers vs Opportunities:
Get actionable tips to stand out to brokers in order to navigate the “hard” truths after signing the LOI, turning challenges into opportunities!

0:00 Intro/Music
4:56 What is the LOI - Letter of Intent
6:55 The Buyer's Perspective
8:57 The Seller's Perspective
10:50 Involving Professionals (Broker & Buyer Rep)
13:56 You Can Backout of An LOI
16:09 What Do Buyer's Need to Know UPFRONT!
22:36 Working With A Broker on a Deal
25:13 The Buyer's Good Faith & Expectation
28:53 Broker's Only Deal with One Buyer
32:32 Communicating with a Broker
36:12 How to Approach Working with a Broker

Are you struggling to grow your dental practice despite continually bringing in new patients? The truth is, most practices are losing just as many patients as they might be gaining. We talk about the cost of attracting new patients. So join Mike Dinsio and Paula Quinn as they discuss trends in the industry with Steven from Dental Intelligence. They expose the two most critical (and costly) trends in dentistry today.

1. Exploding Patient Attrition:

Find out why cancellations and no-shows have nearly doubled, leaving massive holes in your schedule.

2. Collapsing Case Acceptance:

Learn why the rate of diagnosed treatment actually getting completed has plummeted from 46% to the low 30s.

Steven shares the raw data from over 10,000 practices, and the hosts translate these analytics into actionable strategies. They reveal simple systems including the 3 key metrics you must track to stop the cash flow bleeding. We briefly discuss how to boost your team's performance, and how to prevent patients from falling into that dreaded "la-la land" where you never hear from them again. If you're ready to take action and start leveraging data to increase patient retention and drive more revenue, this is the conversation to tune in on!

0:00 Intro
2:02 What is Dental Intelligence
7:08 Data Trends in Dental Industry
13:55 Patient Attrition
17:41 Recare & Scheduling
24:12 The Cost of New Patients
28:10 Industry Wide Decline in Case Acceptance
34:25 Patient Relationships
40:59 How-to Increase Case Acceptance
48:21 Tracking Data in Your Practice

About our guest:
Steven Jensen is the Vice President of Business Development at Dental Intelligence. For seven years, he has helped dental practices and DSOs accelerate growth, improve profitability, and elevate patient care through data-driven strategies. As the host of the "Growth in Dentistry" podcast and a frequent keynote speaker, Steven is known for delivering actionable insights that resonate with dental leaders at every level. He lives in Utah with his family and is also an accomplished endurance athlete.

Review us 🙏 ⭐️⭐️⭐️⭐️⭐️ on Apple Podcasts or Spotify 🎧 - Your feedback helps us bring more unscripted & valuable content to your practice and other on the ownership journey!

WATCH LIVE ON YOUTUBE
https://www.youtube.com/@dentalunscripted

About Mike & Paula
Michael Dinsio iand Paula Quinn are Dental Practice Consultants who care! You can partner with them to turn around and supercharge your practice. Learn more about what they can do here: https://nxlevelconsultants.com/