1. Thomas Larkin DDS The Business of Dentistry From Employee to Entrepreneur

2. The Business of Dentistry • Upon graduation, you will have 20% of what you need to know to make a living in Dentistry • Dr Gene Heller 1/4/2012

3. What is Business • Its… time – people – money • People always overestimate how complex business is… • “There aren't that many things you can do with a business. Its not as if you are choosing among 2000 options.” Jack Welch CEO GE

4. What is an Entrepreneur • One who organizes, administers, manages and assumes the risks of a business or enterprise • You are hopefully paid a premium for assuming that risk.

5. The Marketplace Today • Growth of Corporate Dentistry • PPO “commoditization” of Dentistry • Current Trends – Social/Economic • Future Trends – Social Economic

6. Corporate Dentistry

7. Corporate Dentistry

8. Corporate Dentistry

9. Consumerism • Consumerism is a social and economic order that encourages the purchase of goods and services in ever greater amounts • You have to promote and encourage what the Consumer wants … not what you want • You must communicate a consistent message to the right people and be empathetic to what the consumer is experiencing in the current economy

10. Who is the Dental Consumer • Female • Make 80% + healthcare decisions • Women Centric • Who has the $$$$$$

11. Current TrendsHow The New Economy Has Changed Dentistry Roger Levin DDS 12/2011 • 1. Fewer New Patients Presenting to Dental Practices • 2. Many Dental patients Are Rejecting Elective Treatment (currently 81% of dental appointments are single tooth treatment) • 3. Insurance carriers have created lower reimbursement plans • 4.Dentists are marketing more than ever • 5. Young Dentists are graduating with significantly more debt

12. Current Trends • 6. Americans will have less money to spend on retail and service sector businesses including dentistry • 7. Dentists will be retiring later than ever

14. Real Estate

15. Oral Surgery

16. Dental Implants

17. Cosmetic Dentistry

18. Orthodontics

19. Dentures

20. Future Trends • Faith Popcorn – Brain Reserve

21. The Practice of “General Dentistry 2012 and beyond” Faith Popcorn – Skill Sets for the next decade • Being best in your field will not be so important – be in top 15% and be more adaptable • Don’t be single minded – dip into every discipline • Consider speaking Spanish • Develop Interpersonal skills such as caring, negotiating, judgement and leadership • Entrepreneurial skills will be key

22. Today’s Primary Objective • How do you prevent from becoming a Commoditized Dentist • To become an Entrepreneur - Find a Niche, Create a Brand around it • Indentify Relevant “NICHE” Markets • Predominately web based marketing

23. Types of Marketing 1.Internal3 most powerful and inexpensive (human connection) Your Direct Financial success will be determined by your ability to master human connection tools 2. External (Gretzky Phenomenon) Web 2.0 Building Brand EquityWeb Site/Optimized/Organically Positioned/Google Places/Youtube/FacebookSome Snail Mailings directed to landing pages Social Networks directed to landing pagesSelf Publishing ( Women Centric)

24. Commodity Trap • The primary way out of the commodity trap is to establish yourself as an expert or authority on “something”

25. Thomas Larkin DDS Niche Marketing

26. Origins of the Niche Markets - USP- Dan Kennedy - unique selling proposition - A subset of General Dentistry that serves the needs of a specific population of patients. • Why am I so excited about web /social media is - The potential for you to Tell your Story and Create Your Brand is unprecedented in human history And to do it at a fraction of the cost of traditional media!

27. Someone Woke Up and said… • I am a Cosmetic Dentist

28. Branding • …A brand is the idea or image of a specific product or service that consumers connect with…

29. Branding • Branding and the State Board • Origins of Branding in Dentistry • The Consumer responds favorably to branding • It defines and segments your services

30. Offering Specialty Services in General Practice • Sissy Cases vs Hero-dontics • Standard of Care

31. Niche 1 – Botox , Dermal Fillers Louis Malcmacher DDS MAGD Commonsensedentistry.com 440-892-1810 When would you do it and Why?

33. Niche 2 – Oral Surgery Jay Reznick DMD MD Onlineoralsurgery.com

35. Niche 3 – Orthodontics Brock Rondeau Rondeauseminars.com 877-372-7625 American Orthodontic Society Orthodontics.com 800-448-1601 Staff Training June Williamson Orthoramaseminars.com 888-891-6485

38. 6 Month Smiles

39. Invisalign

40. Niche 4 – Endodontics Kit Weather DDS Endorootcap.com 877-478-9748 Dennis Brave DDS Kenneth Koch DMD Realworldendo.com 866-793-3636

41. Niche 5-Cosmetic Dentistry

42. Niche 6 - Implant Dentistry

43. Niche 6 - Implant Dentistry

44. Niche 6 - Implant Dentistry

45. Niche 7-Biological Dentistry-

46. Way outside the box • The Biological, Health Oriented, Dental Practice is the LARGEST EMERGING MARKET opportunity in modern History • Biological Caries and Perio Risk Assessment • Minimally Invasive Dentistry • Remineralization and Antimicrobial Therapies • Advanced Non-Surgical Perio Therapy

47. Retainer Based Model

48. Niche 8 - Dentistry for Diabetics • Dr Charles Martin • Dentistryfordiabetics.com • 877-433-7342

49. Niche 8 - Dentistry for Diabetics

50. Niche 9- Healthy Heart Dentistry • Ron Schefdore DMD • Healthyheartdentistry.com • 847-236-0943