1. Health/Wealth Tip
Health: Magnesium Supplementation
- Magnesium is one of the most powerful things
- Taking too much of it leads to disaster pants
- It works reduces anxiety, stress, and nervousness
- An Epsom salt bath works well
- There are different options to take magnesium orally
Wealth: Understanding EBITA
- It stands for Earnings Before Interest Tax and Amortization
- EBITA is your revenue minus just the operating expenses of the company
- Businesses are sold based on this number
- It allows you to compare businesses without considering how much debt they have on them
- Amortization means paying down debt
- An increase in EBITA, increases your price when you decide to sell your business
2. The 4 Futures (17:30)
- The Dentalpreneur Podcast has changed the trajectory of his career
- The Dental Success Institute is his coaching and consulting business
- The 4 quadrants: Mind, Meaning, Movement, Money
- If you can master these four quadrants in your life, your life improves
3. Dr. Mark Costes’ Background (27:50)
- His dad was a typical immigrant story
- Having ADHD, he had to find structure in the things he was interested in
- Napoleon Hill’s Think and Grow Rich was the first book that ever spoke to him
- At 15, he decided he was going to be a millionaire
4. Scaling a Dental Practice (38:38)
- 77% of practicing dentists are business owners
- It’s in their genes as a profession to be entrepreneurial
- Understanding the business side of dentistry is also a skillset
- The challenges of private equity in dentistry
- There’s something about the dopamine rush of hiring a coach
5. The Future of Dentistry (56:16)
- The rising cost of dental school education
- Private equity coming in has been very interesting
- The charm of a small business community
5. Final Exam: (1:03:53)
- What book or film changed your life?
- What one healthy habit that you wish more of your patients did?
- What is one wealth tip you wish you had learned earlier in life?
- What do you do for fun?
- Where do you see yourself in five years?
Links
Facebook: @dentalsuccessinstitute
Instagram: @dentalsuccessinstitute