Dental Start Up Unscripted

This one is loaded. In this episode, Michael Dinsio and John Bertagni sit down with Brandon Fauley at Excite Realty to unpack what it really means to support dental startups the right way. From demographic deep dives and site selection secrets to broker best practices and red flags in hyper-growth markets like Texas and Florida โ€” nothingโ€™s off limits.

๐Ÿ”ฅ What makes a site โ€œsexyโ€?
๐Ÿ“ Why boots-on-the-ground beats a basic property list
๐Ÿ“Š How Excite goes beyond the numbers to set up doctors for long-term success
๐Ÿ’ก The pitfalls of trusting the wrong people โ€” and how to find your tribe

Contact Brandon Fauley for more info about the Texas or Florida Market
Tell him you saw him on Dental Unscripted with Michael Dinsio
https://www.xiteco.com/our-team/brandon-fauley-xite/

Intro Music 0:00
Introducing Xite 1:20
Understand the Market 5:10
Market Saturation 12:18
Vision 19:37
The Right Broker 26:35
My Buddy 32:00

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This podcast series is brought to you by
Michael Dinsio founder of Next Level Consultants.
Michael Dinsio Coaches and supports docs through the entire dental start up process.
He has helped hundreds of dentists become practice owners.
Reach Out him at https://nxlevelconsultants.com/dental-practice-ownership/starting-a-dental-practice/



What is Dental Start Up Unscripted?

This Dental Specific Podcast is dedicated to the Dental "Entrepreneur" Michael Dinsio, Founder of Next Level Consultants, delivers #TRUTH when starting up a dental practice. From the very first step to getting the keys of a dental practice, Michael shares his raw & unscripted playbook with you. Not only does this podcast provide you with "What To Do" but more importantly "What Not To Do". With over over 15 years of experience & over 150 past clients, Michael delivers an educational and informative program in a real and genuine way. Start w/ Episode 01 - as we go through a STEP by STEP process.

00:03
That question is so loaded, John. I don't even know where to start with that one. guess the problem is, and by the way, I love that question. Interesting. This is an interesting topic. What's the solution here? Show up, understand your part, and just crush it. Paper, click, social media, we can talk about all this stuff. But what really matters is patient experience, that wow factor.

00:33
Please are you listening to yourself? Come on! What are you talking about? Yeah exactly, so sit back, take notes and listen. Oh, oh I love this. This is gonna be...

00:49
Startup uncensored. The questions you have with the truth you need to hear. And now your hosts, Michael Dinsio and John Bertagni.

01:09
All right, welcome, welcome. is Startup Uncensored, episode four. John and I are stoked to have Mr. Fauley on the line. Buddy, I don't think I asked you what your how to actually pronounce your last name. Help me out. Is it Fauley? Did I screw that up?

Yeah, Fauley. That's the to roll.
Fauley. Nailed it. Nailed do you use word stoked?
Junior High. Did it work?

01:37
It works, it works. know, Mike, this is one of the situations and one of the interviews that I was most excited about because of how, what a profound impact that these guys have made in their market. It's insane what they've done. Am I right? Thousand percent excite, really? These guys are crushing it, taking the industry by storm down in the Southeast.

02:05
Brandon, tell us what are you guys doing over there? Man, gosh, where to start? Yeah, it's been a crazy year just to get it going. I mean, we're thankful right now we've got a good roster of brokers. How many brokers do you have? Man, right now, just going off the cuff, total across the board, I'd say we're approaching 30. Wow.

02:34
And what market for you and you got 30 guys and gals, I'm assuming in what market? Yeah, so we have our headquarters here in Dallas where I sit. Yeah. Office in Austin, San Antonio, Houston as well. And then we opened an office in Florida with Austin Pure. Yeah. Two years ago now. So yeah, the five offices and growing. But yeah, the guys have done a good job. You know, they look for young talent, guys that want to learn, coachable.

03:02
and put them around senior brokers to come in and really drive business, but understand the importance of the relationship with the doctor. Well, and that's the thing. Sometimes when you get the word, you guys are crushing it, it means like you guys are just doing huge volume, which you guys are. But it's more than volume when we use that term. It's like you're doing right by the industry. Yeah. Right, Mike? Isn't that why we chose these guys?

03:31
the partner on this, like it's because they're doing the right things for the dental. That's where my mind goes. It's helping doctors get into ownership the right way, which is my passion, your passion, John, this program's passion. And you're a thousand percent right, John. know, Excite does it right. Let's, I like that. Excite, you're right. Dude, I'm on fire right now. I'm on fire.

04:01
That's a new t-shirt. New t-shirt design. It's the t-shirt. It's the t-shirt. So, and tell us, know, there's so many things that go wrong, right? So many brokers that do it the wrong way. What do you guys think, if you're going to say like two things that you think you guys do right, what is it? Especially in these markets, these are monster markets, right? Huge growth markets. Also, huge markets

04:30
for competition for large group practice. So that's question, right, man? Right. And I want you to answer two things of what you guys do really, really well, and then how you position these people for that group practice, to go up against group practice. Not go up again, but just do it the right way. Love that question. Yeah. No, it's a, there's a lot of people from the sense of us coming in and doing

04:59
things well. A big component is the demographic, right? And demographics today, that's a broad term, right? I mean, you go at least an apartment, right? And it'll say demographics in the bottom right corner, it'll say population, and it'll say income level, right? Yeah, it's one ability record, right? Right. And so it's much deeper, you've got to understand, you know, your competition analysis, you need to understand how many dentists are in your trade area, understand the make above that trade area, you know, is it going to be a primarily a Medicaid clinic?

05:28
Is there going be a healthy split between PPO and Medicaid? are we going to lean on the people service side? All of those help shape the understanding of the type of population that's going to be walking through the front door. So we spend a lot of time, resources, and energy presenting that to our clients. But we also tell our clients, look, we don't want this to just be numbers on a screen. We want to coach you up to understand what we see. We say, hey, man, this is a sexy site.

05:54
here's the data behind it, we want them to, at the end of our journey, they recognize that as well as us agree with it. Because they've seen the data and they're used to seeing good data. So that's a great, you know, we have a great partner and obviously prior to this, we talked demographic, we had a whole session on demographic, we feel that that's big component. And one of the pieces is, that's exactly it.

06:22
analytics are one part, but you know, the actual storefront or the actual location and what that means to that vision, that's the other part. So it's that marriage of those two. So that's what a lot of brokers don't do. They just try and fill a spot. Yeah, we see that all the time where we, you know, we'll pick up a client, he's worked with another broker and all they've been sent is basically just a list of properties that sort of fit

06:51
You know, if they say, hey, I want to be in McKinney, Texas. Well, here's a list of 100 properties that are available on McKinney, Texas. Right. Is to sit down and understand that, hey, man, this is this is the goals you set for your practice. These are the parameters. This is the bucket you put us in. Here's the top 10 locations where we feel you're going to be the most successful, not only based off the data component, but also on the real estate. You know, is it a sexy site that Starbucks would look at, for example? Are we the same type of real estate that's married well with the demographic?

07:21
So you'll take all of those data points. Let's get into the weeds just slightly, because this is really interesting to me. we are- Is it gonna be interesting to the listeners too, just you? I don't know. Let's see what happens. Let's see what happens. So you're taking those data points, which are super important, and then you're turning it real world.

07:49
on the street level, boots on ground, putting eyeballs on these spaces. And so you know that the data points can back up good spots. But then what are some of the other things that the Excite brokers do to really say, I like that spot, don't like that spot, that one's okay? Yeah, a lot of it too, and especially in our market here in Dallas, the market is moving so fast.

08:18
There's so many people that are moving here. There's new developments coming up left and right. And so as you mentioned, John, the DSOs, they're coming to Dallas left and right. And so a lot of times people are signing leases 12 months, 16 months in advance. And so it might be a sexy sight today. The data might check out today, but 12 months from now when all four corners are built up and there's a dentist on every corner, what does that look like? And so a lot of times that's our conversation. We say, OK, if we take down this site, are we going to have three other dentists

08:47
opening at the same time right across the street and then we're cannibalizing ourselves day one. Right? Because for a startup in particular, know, a lot of them will compete fine against a DSO, but if there's another startup or two coming right across the street, that's, you know, their service and the edge that they have is, I'm going to be here long term. Right? You're going to see Dr. Folley every single time you're here for the next 10, 15 years, but if there's three doctors saying the same message at the same intersection, it can get tough really fast. And so the due diligence on that front of understanding

09:16
and forecasting out the next 12, 16 months of where competitors could potentially locate. That strategy we spent a lot of time on. That's a great point too. I like that. And we brought this up, Mike. It's understanding the development of an area. And Mike knows this about some of the practices that we built. We talked to developers, not even brokers.

09:44
Because that would actually give you the mindset of what's coming down the pipe. What's going to be in that empty field? Who are they talking to? And that's really going to give them some additional insight. And it helped up. Because when we opened up one dental practice, sure enough, we thought it was hot. But by the time we built it out, there was a DSO that built it around the corner, down the street. By the way,

10:13
middle of the street 45 miles an hour. We were on a walking street. Who had the better location, Brandon? Right? It wasn't about car count. It was about people count. So that's the type of stuff that, you know, don't think you're smarter than everyone else. Don't think, we got that perfect because all these cars are going by. There's more to it. Right? That's where that boots on the ground and the intuition.

10:42
and the demographics go. Yeah, no, there's a lot. mean, we see doctors, it's very common. You know, a lot of doctors will open a clinic without even having proper representation that has an understanding of the dental industry, right? Or a broker. A lot of times they'll use a broker from outside market that really didn't understand it. But that broods on the ground component that you need to know. You need to know, you know, when we look at an intersection and it's all dirt, we want to know what's going on all four corners. And the doctors might love that because it could be to your full benefit.

11:11
right in my be one of the corner and I'm going to homes the other corner of the high school in the other corner grocery store madness this item of a lot sexier than they want to write in on the quickly but yeah understanding the full game for the next 24 months out is crucial especially in a hot okay so so hot market Texas Florida I mean we're not talking about temperature hot talking about dental hot

11:38
I know that was a little cheesy. Sorry, had to try. had to try. You guys laugh. So like why Texas? Like someone from the Northwest doing startups all over the country. I have one startup right now in Texas and he's set for getting his shell for development for like almost a year from now. And so like what is it about Texas, Florida that

12:07
everybody is drawn to the growth and guys like me that aren't in that market, is it getting saturated? Like, I don't know what's going on, but everybody's moving there. So is there going to be a moment in time where there's no dentists? Man, yeah, it's a that's the million dollar question. We get that all the time. You don't even see the likes of a a Joe Rogan coming on. I mean, people are coming here in droves. And the good thing is, is when it comes specifically to

12:36
Dallas Fort Worth, for example, you know, before we really saw this rush that came in over the last five years, there was already the pop the existing population was already underserved from a dental competition. Okay, so now just based off of the growth alone, Dallas itself needs 50 new dentists a year just to supply the growth alone that's coming in to Dallas. And that's not counting that's not counting Frisco, McKinney, all these other sub markets that are booming.

13:06
Right, and so there's a huge, you we hear that a lot with people say, oh, Dallas is over saturated, we can't go there, it's too cannibalized. Don't get me wrong, there's areas that you've got to watch, right? There's areas where you need be very careful, you need to understand you've got to have a different business platform to go in there and compete well. But there's communities here that don't have dentists within several stones throw, but we're just waiting for the real estate, the commercial real estate, to present an opportunity for someone to go look this way.

13:33
So let me ask a question on that, because if you're talking a sustainable dental practice, and Mike, this is your world more than anything, but 2,000 patients is a strong dental practice, right? When you're just starting out and building it up. So you're telling me that that's 100,000 people are moving to Dallas for work alone, not suburb. Is that correct?

14:01
Yeah, that's the data we've had from Dallas County. Wow. And so I'm really impressed with your math, by the way, John. Well, there's an abacus over here to my side that I've been working. Yeah, that's so bad. So that goes into this. That's why people are saying I want to open up a dental practice in Dallas, Fort Worth or those suburbs of or Austin. My.

14:29
My cousin just moved to San Antonio, boom, like that whole state is unfollowed. It's crazy. And by the way, I love that. It's a great space. And this is not for us to wave the flag, but I thought that was a great question, Mike, to ask why are people going there? And also, can there still be space? So obviously, with that amount of people that you have from a brokerage firm at point,

14:59
you saw the need to satisfy them. in your area, there's a lot of different contractors. There's a lot of different dealer networks. There's a lot. How do you, because it's so big and vast, how are you differentiating yourself to be a part of all of these groups and all these startups? How does that work from a network standpoint, good and bad? Yeah, networking is tough.

15:27
especially on the good and bad. Good and bad. Good and bad. It was a long way to get to the question. How do you decipher the shitty ones from the good ones? Yeah. Who do we give the time of day to? Man, it's the good thing is, as you guys know, the dental community is really small, right? And so you get feedback very quickly from clients on who performed at a high level and who they would probably go the other way with. And so we, you know, we came into the market late.

15:54
We were typically the new kids on the block. We only started the company in 2012. And so there was an established network in place that was healthy and that not one any new players coming in. And so we came in and we just said from a dental vendor relationship, we just said, hey, we want to see to the table if we're bringing value to the client and they're seeing the value that we're bringing and we're having successful practices open and we're doing it in a way that we're a good steward of the doctor's time.

16:22
you know, we should we should have business and we want to work with you guys. And so we try to treat everybody in that same bucket. You know, the guy there's some guys that obviously just sit around and want to able to find themselves to them. But there's also guys that are out there hustling who are really trying to bring and fight for an extra buck or two or the value at the end of the day is in that positive for the dentist. And that's who we try to align with. And so we we really we have open doors on that front because we were shut out at the very beginning.

16:51
There was no love lost when they weren't picking up our phone calls in 2012. Well, I think that's it's kind of important for folks to know. We always say that our our clients, our listeners need to have a healthy skepticism. Maybe I say that don't know, but a healthy skepticism on you know, got to be skeptical, of course, of who you're working with. Make sure you're working with reputable people, people that have good reputations and

17:19
come highly recommended, but at the same time, you know, not trusting your team is also a huge pitfall that I see people just not having a healthy skepticism. So relying on a group like you guys that, you know, how many startups do you guys do in a year, roughly? Can you say that? you describe a little bit? Yeah, here in DFW we try to do between 50 and 60 a year. Wow.

17:46
So you have a good pulse on those folks in your markets to answer John's question super directly. You know who's doing right by the client and who's not, right? Yeah, and also the nature of the beast here is there are so many transactions and there's so many vendors that are trying to get into the market here. The bad ones typically have a way of weeding themselves out, you know? A lot of times that just naturally is a progression over time of just bad reviews and bad experiences.

18:16
Like I said, with the amount of Facebook groups now and just the communication and the education that goes back and forth between the dentist and the startup world with guys like you, know, thankfully we're not having as many bad situations as we used to have in the past where guys just have no idea what they're doing and they're coming in, they're screwing up the deal. And at the end of the day, Dr. Julia said, and a lot of opportunity costs lost because we're opening six months later than we should have. Right. Right. Well, here's a question for you because you brought up DIRP, right?

18:45
not a lot of places have the ability to say that they're dirt or there's potential development there. That goes into a question of standalone building versus retail space. Long-term plays in terms of the ability for people to create wealth not only in their career, but in real estate. And then also driving monetary units from a mortgage versus

19:14
rent. So my question, because you have that ability in Texas to land, how do you decipher that? Especially with students coming out with student loan debt of $300,000 $400,000. Correct. No, that's a great question. we get that answer. We get that question quite a bit. It is. Nailing it. It is nailing it. That's a good one. Really, it's very honestly simple. It really comes down to the record.

19:44
Right. There's typically two doctors, right. On the startup side, there's guys that want to open three or four packages, three or four offices and they package that to me and then go sell those to a DSO group. And then there's guys that want to have one office or two and then build a super big, nice retail ground up center and use that as long-term supplemental income as they ride off. Right. And so we try to understand that early on, right. Cause if you're going after

20:10
A DSO one day, you want to package six, seven, 10 offices and get a nice payday and move down the street. You need to take locations that a Pacific Dental, a Heartland, guys like that are going to look at, right? It's not going to be taking main and main. You need to get good leases in place. You need to have good language in the lease that protects you and allows you to assign the lease to the future date. And whereas someone who is just wanting to, let's say, open them in the hometown, wherever they're from, you know, that's not as necessary.

20:40
We don't need to go spend the extra dollars on the rent for the brand and for the visibility to the street because they've got relationships in place. They're going to do well there, but ultimately they're going to relocate out of there, build a building. We call that a ground up where you're buying dirt, build a building, or just go buy an existing asset. Go buy a retail strip and we have it and stick their stuff in there as a tenant. But the two questions we tell guys to ask them is, hey, are you wanting to eventually sell all your practices and try to sell that on the multiple?

21:09
Or are you looking to, like you've mentioned, build a retail strip, go more of the passive income stream at a later date? Well, Mike, you have one more. Let me follow up on that, Mike, because I know you've got a great question. You always do. And you look beautiful today. you. So what is the time frame for ground up versus that, you know, obviously there's a big difference. So people have to plan accordingly.

21:39
I know the answer, but I want you to give it. Yeah. Okay. You can check me on this. So if you're doing a ground up from the day you say go, which most ground up project to be fair, those are guys that already have existing points, right? Correct. Open, let's say for three or four years, typically from the day you say go, you need to do lot for 16 to 18 months is a good timeline because you've got to inquire about the land. The biggest hurdle there that people don't understand is it can look like just a flat piece of dirt with nothing on it, but there can be so many

22:08
restrictions in place that we don't even have an understanding of it until we can see, right? could be easements, setbacks, you there could be a restrictive covenant in place, put in place by someone across the street, you never know. And so you need a lot of healthy amount of time for example, we typically say 16 to 18 months. The other timeframe in terms of opening multiple clinic satellite offices after you open your main first clinic, a lot of that is on the speed of the doctor.

22:36
We have some guys that try to open two a year once they've been open for three years. That seems to be more common than not. Once they've got all the scars on their back for the first 24, 48 months, then they're going and say, okay, now we can do this. I understand the process. I've got a team in place. I've got my staff. Let's start opening up. What I'm kind of digging about this right now, John, because we talk about vision drives everything. We're going to hear that.

23:05
in almost every single episode. And Brandon, you just nailed it in a lot of ways where you say, hey, it really does depend on what that doctor is trying to accomplish in their career. And then we take our steps from there. And folks, listening, that's the answer 100 % of the time. It really does depend on your vision and what you're trying to accomplish.

23:35
and then partnering with a team that's gonna help you do that and fulfill that vision. So I love that. What do you guys do to get super clear about what somebody is trying to accomplish? And before you answer, folks, John and I are gonna say this a thousand times on this program. If you don't know what your vision is, if you don't know what your business plan is, if you don't have these answers, how's a guy like Brandon

24:04
or anybody that we interview, how are they gonna help you do what you're gonna do? So you gotta know, they don't know the answer, you gotta know that answer. And so let's just assume that somebody knows. Yeah, exactly. And make it be there, right? Make it be there, Vivian, not someone else's, but the one. Exactly, exactly right. So Brandon, how do you work through that progression with these clients to get super clear about what they're trying to accomplish? Yeah, that's a great question. And so everybody,

24:34
Everybody's obviously unique in that sense, right? The best way to typically people balk, to be very honest, at the idea of a ground up. Number one, when they learn the talk, because it's not cheap, it's sort of a one-time deal, right? Whereas when you're opening multiple locations, you're half a million dollars at a satire office per office, right? Ground up is expensive. Also the understanding of the roles of the landlord and some of the hurdles with that. It's not always sexy and you don't just sit there and you take

25:04
rent check. mean, if you look at COVID earlier this year, if you have a retail strip building, every single tenant in there asked for a baited rent just like all of our clients would have as well. That was the right thing to do. And you as the landlord, then you've got to understand and make hard decisions. So I'm trying to help them really just get educated with no BS, but understanding the good side and the bad side, the good, the bad, the ugly, you can call it, of both alternatives. They typically can find themselves there. Some people like that.

25:32
You know, some people want an asset they can move away from. I there's a lot of guys that own commercial buildings here in Texas and they live in California. Right. They get to do that. It's very hard to run a regional DSO and not have your boots on the ground within a mile, within an hour drive. So that's a great question. So Brandon, here's my thing. You know, our listeners are going to have the ability to talk to any broker out there and

26:01
And you guys are the top of the top. Like, how do you get paid and how does that differentiate between how another broker might get paid? Because from my understanding, everyone essentially is going to get paid the same amount. So why not work with the best? Am I right or am I missing something here? No, no, no, you're not missing it. I'd clarify a little bit on it. you're right. Every broker is basically going to get paid essentially the same amount.

26:29
when you want to move forward with a transaction, say in fact, right? The real estate firm has to have a license in that state, right? And so that's sometimes a limiting factor. For example, I don't have my license in Idaho. If you wanted to work with me in Idaho, it probably wouldn't work that well. So we always recommend, we say, hey, we can reach out and we can, when guys inquire to us that are outside of the state, we can let them know if that's a, we have the ability to function and perform at a high level there. But at the end of the day,

26:57
We just always recommend, we would love your business. But more importantly, you need to work with a dental specific broker who understands that market. That's key, right? Because if they have a good experience opening a startup with a dental broker, you know what? They're going to have a buddy at some point that's going to open one in my market, and I'm going to get that deal. Right? But at the end of the day, we've got to make sure, like you guys were mentioning earlier, they've got to work with a guy that understands the dental community and what it takes to get an office open.

27:25
Here's something, so I get this myself, because I help doctors buy practices too, and some of my fee comes at the end of the deal. So I get this question, so I'll ask you kind of the same question, is like, how do you stay neutral to the deal, knowing you're getting paid in the end? Meaning, and by the way,

27:52
There's absolutely brokers out there that drive deals to the finish just to get the check. I've blown up plenty of deals, so I can point and say that's my track record. how do you stay neutral or however you want to ask that? Yeah. Yeah, yeah, yeah. that's a great... That's really the question people should ask when they go to hire a broker, because that's the hard question, because we're tenant- Right? Great question. Yeah, great question.

28:22
We're a tenant rep firm, and so what people don't, a of people don't understand is there's always two brokers in a transaction, right? There's a guy that represents the landlord and there's the tenant rep broker who in this case that would be us representing the doctor. Well, the landlord pays the fee across the transaction. So the doctors that are listening, you don't pay the fee. It's already built into your rent. The landlord already performed it. And so the question is always, hey, if the landlord's paying your commission, and technically I make more commission, the more expensive

28:51
the more expensive the deal is for you. The more rent that you pay, the bigger the fee that I'm So how do we remedy that? Well, number one, we have a judiciary responsibility to the client. So you always want to work with a broker that requires a representation agreement. Because in that representation agreement, it's going to clearly state out the bylaws and their judiciary's responsibility to you. And so we put that in there. It also clearly lays out at the very beginning how they're paid, how they're compensated, who they're compensated from.

29:20
A lot of times the guys that you saw will try to run a deal to the end will typically go through without a representation agreement and try to explain about the deal. And then that says, if you don't sign a representation agreement, they aren't legally bound to a fiduciary responsibility to you. That's also the good thing about us is, know, our license, similar to Denon's, our real estate license are governed by the state of Texas. And so if you have a broker who is not working in your best interest or he's being shady, he's getting extra points from the landlord,

29:49
or you feel like you just at the end of the day, just really a sleazy pack and not representing your interests, there's a governing body that has the ability to put remedies and ramifications if necessary on his life. So that's the legal answer, right? Truly at the end of the day, you've got to have a comfort level with the broker, right? I'm not going to say anything that's going to make you feel 100 times better. I'm just going to be very honest. I'm not going to be a yes man. I'm going to give you the honest answer on if I think it's the right deal.

30:19
It's a small market, right? It's a small community. You're gonna know somebody that's worked with me. You're gonna know guys like Michael and John who can vouch for us. And that's where understanding and asking questions and getting educated on local people in the community is gonna be helpful before you decide who you're gonna hire. Yeah, that's the absolute truth. And you know what? That also transfers to these dentists. They can learn from...

30:45
Brandon and Michael and myself and this community because that network and that small Community of how well you're doing and what you're doing for you know your patients or how you treated others you have to think that way you really do and you know, that that brings up a question that I have when when someone says my brother-in-law or you know

31:15
My uncle is a contractor. I've heard that. come. Wait, wait for the question. Wait for the question. The question is, and he wants to build my dental practice or he's an architect and he wants to do the architectural drawings for this. Obviously, you don't have any skin in this. According to you, you're just finding the space.

31:43
What advice would you give them if someone said that to you? Well, as I mentioned, we get that so frequently. By the way, Brandon, I love this work on your face. Viewers, log in, subscribe to YouTube. This is live video action. You can listen on all the podcasts. But to me, the video, the YouTube channels, where it's at. Oh,

32:12
Where to begin on this question? So as I mentioned, everybody's trying to save a buck, right? You can't hurt anybody for saving them a buck and trying to utilize existing relationships. And so we try not to trash that too much, but we also understand, and we've seen clients that just put scars on their back from trying to go the cheap route or trying to hire somebody that's never been there done that. And so we always recommend very lovingly to say, hey, that's great. I'm sure they can probably do a great job, but you need to have a measuring stick for this person.

32:42
Right. So a contractor, let's take that example. You're going to hire your brother-in-law who all he builds is mobile homes to build at your dental clinic. Will you use a highly reputable GC that's a dental focused on interiors? You need to use them as the measuring stick to see if he's up to status quo to deliver that. That's typically the best. And we see that a lot on the lending side as well. You know, we'll say, hey, you they got some local bank that they, you know, Podunk Texas that they bank with forever and they want to do a dental loan.

33:11
So, okay, well, you know what? Go to the Bank of America and the Wells Fargos of the world and use them as a measuring stick to see if that bank can compare it. If they can, great, do the deal. But also be, don't be blinded by your emotional relationship with somebody that thinks they can save you $10 upfront when down the road you're gonna get trapped. Yeah. I love that. I love that piece because there are so many emotions to this process. We're all as a team helping these doctors build their dream, create

33:40
create this vision and it can get so emotional. what it's really interesting as a consultant is, and I feel like I'm half a psychiatrist more than anything else. And I'm saying that because it's like I could be working on a project and I guarantee you two both know exactly where I'm going with this. like they'll be making such great decisions and then all of a sudden I'll be like, wait, like.

34:08
like this is where you're getting too many emotions about this because they want to use their brother or they it's just a you know a red flag or a pitfall and you can't get them off of it you know but we call it the my buddy syndrome or the syndrome yeah that's right that's exactly right um that that's that's perfect well well buddy

34:31
This has been super, super helpful. I think I will speak for everybody that listens and is part of this program that you guys are A++, you guys get it. Your integrity is at the top of the tower when it comes to conflict of interest and all of that. And so, I couldn't think of a better firm. John, these guys are as good as it gets.

34:59
Yeah, when we were putting this together, was like, on the board, this is what we want. We want these guys. were one of the first people that we wanted to be a part of this set. so, Brandon, you're representing your company well and you're representing your clients well. So thank you for that. Oh, yeah.

35:23
Yeah, thanks. All right, guys. Well, stay tuned. Subscribe, like, share, all that good stuff. You know, I'm not a zennial. I don't know the right words. But bottom line, follow us. Follow us because we love what we do and our passion truly is to help doctors get into startup. So thanks again. Great. Thanks, Take care.

35:52
Thanks for listening. Tune in next week for another truth-filled episode of Startup Uncensored.

36:03
Check out Startup Uncensored on Facebook and YouTube. Click like, subscribe, and interact with Michael and John.