How do I "Start" a Dental Startup? (Part 2)
The Startup Dentist
<p>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. </p><p>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. </p><p>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.</p><p><strong>Key Points Discussed:</strong></p><ul><li>Establishing balance for startup practices (01:02)</li><li>The things that make practice owners happy in their ownership (03:00)</li><li>What are you going to be remembered by within the community? (08:40)</li><li>All the decisions you make for the rest of your career should be aligned with something (15:10)</li><li>The value of being known more for your values than your products (20:35)</li><li>How Nike loses when consumers understand the values of TOMS Shoes (23:00)</li><li>Aiming for a cause that matters to you on a personal level to promote your practice (28:48)</li><li>If it’s not authentic, it will crash and burn (31:04)</li><li>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)</li><li>Demographics, proper funding, and real estate 101 (43:09)</li></ul><p><strong>Additional Resources:</strong></p><ul><li><a href="https://www.facebook.com/groups/589942288257436/">The StartUp Crew Facebook Group For Associate Dentists</a></li><li><a href="https://idealpractices.com/course-b">Ideal Practices Website</a></li><li><a href="http://www.idealpractices.com/13">www.IdealPractices.com/13</a></li><li><a href="http://www.startupdentistpodcast.com">www.StartupDentistPodcast.com</a></li></ul>
<p><p><strong>Contact Information and Social Media Links:</strong></p><ul><li>Website:<a href="https://idealpractices.com"> Ideal Practices</a></li><li>Email: hello@howtoopenadentaloffice.com</li><li>Facebook:<a href="https://facebook.com/idealpractices"> Ideal Practices</a></li><li>Instagram:<a href="https://instagram.com/idealpractices"> @idealpractices</a></li></ul></p>