In this episode, Dr. John and Wendy sit down with Chris Sands, owner of Pro-Fi 20/20 CPAs, an accounting, tax, and financial consulting firm for dental practices. They go over the common mistakes and challenges practice owners have when it comes to managing their dental practice finances. They go into detail how dentist owners can be financially savvy, what numbers they should be looking at, and what you need to do now for taxes. You'll Learn Top financial mistakes that are common among dentist -How dentist financially measure the success of their dental practice wrong Why you shouldn’t have your accountant prepare financial statements Why many practices have such a high percentage of overhead, and what they can do to decrease it What you need to know about 2020 taxes Why it’s imperative to talk to a CPA right now if you took out a Payment Protection Loan (PPP) 3 strategies of what you can prepay for the year to lower your tax bill Why you should get a CPA that focuses on just dental practices Guest Bio Chris Sands focuses on counseling dental business owners as a result of his first-hand experience working in a dental practice. His goal is to help them grow and understand the importance of being fiscally responsible in their business. Chris helps educate doctors about the importance of having accurate business accounting records and a proactive relationship with their CPA to develop tax strategies for both business and personal finances. Chris is active in the dental industry where he regularly lectures at conferences, study clubs, professional association meetings, and workshops and publishes articles on business and finances in the dental industry. Resources Grab a FREE copy of our book. http://www.2xproductionbook.com/ Download the Recession Recovery Checklist. https://www.recessionrecoverychecklist.com Find our video podcast updates by Wendy and Dr. John on our Facebook page: https://www.facebook.com/TeamTrainingInstitute

Double Your Dental Production Tomorrow | The Team Training Institute | Professional Dental Consultants

Ep 75:Top Financial Mistakes Practice Owners Make with Chris Sands

In this episode, Dr. John sits down with dentist Dr. Charles and his wife Sylvia Betts, owners of a dental practice in Decatur, TN. Like most dental practices, they were shut down for several weeks due to COVID-19, but are now busier than ever and are still getting new patients, even though they are a fee for service practice (a rare phenomenon these days). Dr. Charles and Sylvia share their journey during the pandemic, the challenges they've faced, and how they've pushed through and are doing better than ever. You'll Learn Why they hired 2 new staff members before they even opened back up again. How they made the team (and patients) feel safe coming back to the office. Why they double booked hygiene and how they were able to keep up with the wave of demand when they reopened. What they started doing that was a massive turning point for their practice. How they created a culture where their team solves the problems (not them). The strategies they are using now that the pent up demand is starting to subside, to keep their schedules full. Guest Bio Dr. Charles Betts grew up mostly in Alabama. He is a husband, father, and grandfather who has been practicing dentistry in Decatur for 30 years. Sylvia began her career in health care and received her bachelor’s degree in nursing education and management from Emory University in 1979. She has held nursing positions in several hospitals and home health agencies and now is the office manager at the practice. Sylvia is married to Dr. Betts. They have three children, two of whom are married, and three grandchildren. Resources Grab a Free copy of our book. The Ultimate Guide to Doubling & Tripling Your Dental Practice Production…How to Build an Unstoppable Dental Practice With The Freedom to Enjoy It! It reveals our 5-step process for success in any dental practice regardless of your size, location, and situation –> Click Here Download the Recession Recovery Checklist. Dr. David started with our Critical first 100 days checklist, which we have updated to the most recent version entitled The Recession Recovery Checklist. This is where every practice should be starting. Go to www.RecessionRecoveryChecklist.com to download your copy today

EP 74 Growing Your Dental Practice During COVID-19 with Dr Charles & Sylvia Betts

We have heard a lot of frustration from the dental world about the latest WHO recommendation in the media. Practices are noticing cancellations, concerned patients and sudden fall-out of appointment retention which is very concerning! Listen to Dr. John and Wendy during a facebook live where they update our subscribers on what tools and tactics we have to combat this recommendation, while calming fears and continuing to serve our patients at the highest level. Find the link to the video version here: www.theteamtraininginstitute.com/podcast

EP 73: The Latest Announcement from the WHO and the Possible Impact on Your Schedule

This episode Wendy discusses the current crisis from both a practice and data standpoint with Curtis Marshall from Dental Intel. They lay out strategies on how to move forward now and not only weather the storm that is coming but how to take advantage of this time and come out with some of your best production months yet. All while creating a higher patient care and attracting even more patients! Incredible information on this episode, you will not want to miss it! Find the link to the video version here: www.theteamtraininginstitute.com/podcast

EP 72: Weather the Storm with Curtis Marshall

Wendy and Dr. John analyze case studies with offices who are implementing change and having tremendous success. During this episode you will find tips and tricks that will help you now while recovering from the COVID-19 pandemic as well as strategies that will continue to improve your patient care and practice production for years to come. You can’t afford to miss this one! If you would you like to find our facebook video updates find the link on our podcast home page: www.theteamtraininginstitute.com/podcast

EP71: Strategies to Maximize Change In Your Practice Tomorrow

COVID-19 had and has many concerned about Cash Flow. Join us for this episode where Wendy interviews an executive from the banking industry to ask questions regarding best options for surviving COVID Cash flow crunch. Walk away from this episode with ideas to use in your practice tomorrow! Like what you hear? Find us at: www.theteamtraininginstitute.com/podcast

EP 70: Cash Flow Solutions with David Kirby from Zions Bancorp Practice Pathways Division

Dr. John and Wendy give us another update on the latest Covid-19 science and information from the leading governing bodies and real life offices. They also discuss what is currently worrying and threatening providers to creating their ideal dental career. Discussing practice styles and how to achieve exactly what you are looking for! Listen in, you won’t want to miss this valuable information! Like what you hear? Find us at: www.theteamtraininginstitute.com/podcast

EP 69: The Threats to Your Ideal Dental Vision & a Covid-19 Update

To open or not to open? What infection control procedures are necessary? What should we currently be doing during this transition period? Dr. John and Wendy address these concerns and more on todays episode which is another Covid-19 update aiming to clear away the confusion that has permeated into our dental profession and allow you to make your own decisions with your practice with as much information as possible! You won’t want to miss it!

EP 68: Clear Away the Confusion; Covid-19 Update

Dr. John and Wendy walk through Dr. Mark Mathias’ powerfully shocking story about his personal experience with oral cancer and the importance of the oral and systemic link within our offices. Whether we are getting going with our practices again, or on the fence, Dr. Mathias’ story is one that needs to be heard! Share the message of the importance of dental health and how that affects our systemic health as well! Like what you hear? Find us at: www.theteamtraininginstitute.com/podcast

EP 67: Oral and Systemic Link with Dr. Mark Mathias

Listen in to this update by Wendy and Dr. John taken from their latest live video series. This series has been focused on tracking this virus and the impact it has had on dental offices and the economy nationwide. As we are beginning to see different phases of moving forward, listen into information that will help you in whatever your situation is and take it back and apply it to your practice now! Like what you hear? Find us at: www.theteamtraininginstitute.com/podcast

EP 66: Covid-19 Recovery Update

Dr. John and Wendy discuss different financial options with CPA Drew Schaefer for this time when faced with this crippling shut down. Listen in for different options to move forward financially as the economy is starting to move again and find resources to help if you are stuck! Drew Schaefer provides insight into how we can recover now and prepare for crisis in the future.

EP 65: Navigating the Financial impact of Covid-19

Listen in today for an update on more personal protective equipment that can be used in our practices once we hit the ground running! Vital information to continue to prepare for the influx of patients that will be at our door once allowed to practice. As well as an in-depth virus update given by Dr. John. Don't miss this episode today!

EP 64: PPE & Current Covid-19 Update

The most current update regarding our crisis status with Covid-19 and what we can be doing to access the government aid provided to us. The dental field is being hit hard and we want to help! Listen in to Dr. John and Wendy while they dive into these different options and how we can get started finding relief during this trying time.

EP63: Legislation Regarding Covid-19 & What You Need to Know: A Breakdown of the CARES Act

*BONUS* episode including information regarding emergency dental practice rescue. Dr. John sets the stage for the unknown that we are currently experiencing in the dental industry as most of our lives and professions have been put on hold from this virus. Listen in to the basics we can be doing now with our offices, our staff, and how to hit the ground running once we start seeing patients again.  Like what you hear? find us at: www.theteamtraininginstitute.com/podcast Want to listen in to daily updates by Wendy and Dr. John? Find our facebook page with those videos here: https://www.facebook.com/TeamTrainingInstitute/

BONUS: Covid-19 Emergency Dental Practice Rescue Masterclass Training

Are you out of dental school and looking for highly profitable opportunities, or a good long term plan? Are you running at maximum capacity and ready to hire a young associate on board? In this episode, Wendy and Dr. John discuss common frustrations, opportunities and situations experienced by our young dentists today. Highlighting proven strategies they’ve seen in todays market that will allow for young dentists to hit the ground running. They will also speak to established practices and give strategies to seamlessly introduce a new associate model that will alleviate blockages and increase production with an additional provider. You wont want to miss it! Like what you hear? Find us at: www.theteamtraininginstitute.com/podcast

EP62: Success Strategies for Todays New Dentists

Our team is comprised of extremely talented and successful dental professionals who are all still working in the trenches in dentistry. We are incredibly unique in that we approach every aspect of the practice: hygiene, administration, clinical and even the doctor. We offer programs of all shapes and sizes, from online courses or in-office sessions, to private seminars and coaching programs. www.TheTeamTrainingInstitute.com

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Double Your Dental Production Tomorrow | The Team Training I...

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