Welcome And Show Setup

Announcer 0:00

WWDB 860 AM Philadelphia and WPEM HD2 Arlington Philadelphia. The following programming is sponsored by Marc J. Bernstein. The views expressed do not necessarily reflect the views of this station, its management, or Beasly Media Group. Entrepreneur, founder, author and financial advisor, Marc Bernstein helps high-performing business owners turn their visions into reality. At March Forward, Marc and his partners and associates think out of the box to partner with their clients in regards to their visions for their lives, their businesses and their legacies. And through his innovative work with the Forward Focus Forums, Marc connects entrepreneurs to resources that help to fuel their success. Founders’ Forum is a radio show and podcast where entrepreneurs share their journeys, revealing the stories behind their successes, and the lessons they’ve learned. Join Marc and his guests for a mix of inspiration, valuable insights, and a bit of fun! Now, let’s dive in...

Marc Bernstein 1:02

Good morning, America. How are you? I am so happy to be back in Philadelphia today with and to celebrate that, because we've been re we've been broadcasting from Florida for the winter, but we're back for one week only, and then we'll be back in Philly again in a few weeks. But to celebrate that, we have TJ Gleason on the board, which I'm very happy about. It's my uh longtime favorite engineer, not to the exclusion of anyone else, of course, but TJ's great. So good to have you here, TJ. And we've got very special guests today. We're actually recording two shows today. One, we're live on the radio right now, but we'll be doing a second show because they have two different ventures going on. And their names are Jay and Preety, and I'll introduce them in a minute. But our topic of the day is, and by the way, when I ask you, how are you, America?

Defining Success Beyond Money

Marc Bernstein 1:52

I really mean it. We're in the middle of a war right now. There's a lot going on. Jay and Preety are about to travel internationally, and I know a little concerned about flying. So I wish you guys good odds, and you know, hopefully everything goes okay. So hopefully everyone's okay, but we stress the positive here. So I want to start out by talking about success and what that means. So everyone has a different definition of success. So, Predi, I'm going to start with you. We're doing a ladies' first day today. What how would you define success?

Preeti Gohel 2:23

Hi, everybody. I think success is uh more balance in your life. It's not just success in your work. I think success has to be 360, everything your personal life, your professional life, um, you know, uh, and your health, so and your mental uh stability. I think success is balance in your life.

Marc Bernstein 2:48

So good branding, by the way, because they have a consulting company called Thrive Thrive 360, which will be the subject of our second show today. Jay, how about you?

Jay Gohel DMD BDS 2:57

Uh yeah, I I would uh and and first of all I'd like to thank you, Marc, for bringing us on here and your team. Oh my pleasure. Very excited to be here and um even more pumped because our daughter is joining us and uh you know recording us. Thank you, Aria, for being here.

Marc Bernstein 3:14

Highly professional video today, which is very nice, and she's taking pictures as we speak.

Jay Gohel DMD BDS 3:19

Um and I I I think that that's kind of like a very good example of what success is that we're sitting here, we have the ability to sit here to talk to you, and and our daughter is recording this. I mean, could I define success any any better than that? It's it's the ability to have you know, one word would be it's it's a state of bliss that is is a mental state when you know that you've got complete confidence where you where you exist in life, you know. It's like you're not looking for any other reward because no financial reward can really overcome the reward of just being able to like right now be here and be able to do this with you. So again, thank you.

Marc Bernstein 4:14

I love that. And I I'll just add a little bit to that. You've probably all heard, including our listeners, success is is not a destination, it's the journey.

Jay Gohel DMD BDS 4:22

Journey.

Marc Bernstein 4:23

Which to me means being in the present, being right here. We're we're successful as we're sitting here because we're all doing something we love and we're in the moment, which is great. Uh so with that, let me introduce Jay and Preety and Aurya. So Jay Gowel, M D D M D B D S, is CEO of Aesthetic Dental Associates, and he's the CEO, clinical directory, director, and visionary, and he's a singer. So we might get to that in there. Uh he's a talented singer. I've gotten to hear him. And Preety Goal, they are married, is CFO of Aesthetic Dental Associates, and she's also an actress because I've seen their music videos. So I have to.

Preeti Gohel 5:08

I go to support Tim.

Marc Bernstein 5:10

And we're all in the arts here. And their daughter Aria is here, and she is going into film, hopefully, at Temple University. And she is um very talented, I understand, and doing the video and photo work today. So we appreciate you being here. And um, so let me tell you a little bit more. Aesthetic dental group is a multi-location dental group. It's seven offices. And I've worked with a lot of dental practices and oral surgeons over the years and specialists and they five offices? Yes. Five offices. Did I say seven? Yes. Maybe it'll be seven pretty soon. Okay, from your amount to God's head. That's right. So five offices, which, as far as I know, in the Delaware Valley might be the bit largest um privately owned dental practice. So, and there's quite a story behind that. We're gonna get dig into that story today. And um, by the way, I never quite finished Preety's um bio, but she leads the financial operations for the practice, and she's known for her ability to streamline financial chaos, create clear pathways to profitability, and her mastery lies in showing entrepreneurs how to increase profitability while expanding their net worth

Meet The Leaders Behind Aesthetic Dental

Marc Bernstein 6:24

with intention, simplicity, and purpose. So we're gonna talk about that more on the second show, I believe. But let's let's focus on the dental practice for this show because it's a very interesting story. So you guys both started in India, and tell us about your backgrounds, you decide who wants to lead. Jay, why don't you start? Because you come from a family that m that probably prepared you for all this in in a number of ways.

Jay Gohel DMD BDS 6:49

Uh unknowingly, yes, yes. Um so it's been a very, very fun journey, I'll say that. And um a long time ago I read a book uh by Richard Bach, as is and again that was gonna I'm gonna bring that book up uh later on. Um but it it's one of the things it says is that everything in life, and again being in the moment, is is you could literally divide it into two things, which is fun and learning. So either you're having fun or you're learning something. And and throughout my student years, I used to and I I remember like being eight or nine years old, and my father setting up the first dental lab in um I would say what back then would have been like maybe a storage room in the house, you know, because that's how things were done forty years ago.

Marc Bernstein 7:43

My father started a greeting card business in our cellar in our first home. So I'm gonna go. Exactly.

Jay Gohel DMD BDS 7:50

Right? And and that's that's like we have such similar backgrounds, and that kind of like you can identify with that.

Marc Bernstein 7:55

Yep.

Jay Gohel DMD BDS 7:56

And um I've worked in the lab all throughout my middle and high school years, and that's how I made my pocket money. And I didn't realize and I would always tell my dad I I don't want to be a dentist, you know. It's just like the last thing I want to do is be a dentist. And and uh after after having worked in the lab for so many, so many years, I realized like, hey, I know this works. Come time to pick a career, guess what? It was like it was a natural progression for me.

Marc Bernstein 8:20

What did you want to be prior to that?

Jay Gohel DMD BDS 8:22

Um I would have definitely I I did want to be an astronaut.

Marc Bernstein 8:26

I just guessed.

Jay Gohel DMD BDS 8:28

You know, I actually had two very fun books on on you know satellites of different planets and all that. But I also um, you know, I think that's where our daughter probably gets the the film bug from, is I also wanted to get into the arts and performing performing arts. Um so it it's it's in a way kind of in the DNA because my again, my dad's been practicing. He's still practicing part-time.

Marc Bernstein 8:52

Me too, by the way, you know. Music major, law school, financial planner. So there you go. And I came from a family of accountants, so there you go. Right. But I wasn't gonna be an accountant, so I ended up being a financial planner instead.

Jay Gohel DMD BDS 9:06

Right. And and it's it's all it's all connected because again, what what I tell everybody is there it's a big the financial and and what you do is so important is the financial flywheel kind of controls everything else because everything kind of falls within that circle of the financial flywheel. No matter what you do, finances come into it. And and that's where when I met Preety, she uh we met her in high school, and so we're high school sweetheart. And I'll let her kind of kind of describe that, but uh it was it was just a perfect match that when we kind of get got into this journey and she had the financial background, so it's just it's just like a perfect fit for us. So do you want to kind of talk about that?

Preeti Gohel 9:48

Yeah, definitely. So yeah, as he said, like I'm uh uh very good and following the thing, so you know, when he said I want to do this, like even up I think until now, like he'll tell me I want to do this, and I'm like, I'll just follow his directions and I'll you know just go ahead um and do the stuff he wants me to do. And uh I remember like uh when we started um our first practice and I was working in the dental lab. Um uh I was um and you know Jay told me, um, you know, I need your help in the office. Why don't you come and give some time in the office? And I'm like, okay, I'll come and I'll help you out.

Marc Bernstein 10:34

And this was in your father, his father's dental labor.

Preeti Gohel 10:38

Well, that is before that. Um I'll tell you, I worked in his um dad's lab too. Right. Um and when Jay was studying uh in US, I was with his dad, and you know, I had time, and his dad just has me like, hey, why don't you come and join me? And I'm like, Yep, why not? And I I'm a you know a yes person. Uh you give me anything, I'll do it. I won't um good to know. Yeah, yeah. Like really, you tell me uh can you do that?

Marc Bernstein 11:06

By the way, you know, I figured it out. I started calling her Jay when I need something. I think that's a smart move. That's right. I understand.

Preeti Gohel 11:13

So I I I was like, okay, let me try. And I did it, and I, you know, I I yeah, I have a creative background. Um I have a degree in interior designing and finance. So he told me to do both the things for me, and I'm like, why not? I'll I'll try it. And it was really helpful for me. Um I worked with him for a year in his dental lab, and when I came to US, um, you know, it was so easy for me to get a job here. Um and when we started our journey and Jay um got his first practice, uh he just said, why don't you help me in the finances or you know, just do day-to-day things. And when I came in to the practice, um, you know, I realized that he was doing everything. Like he was uh like nine to five, he will work on the patients and take care of the patients. But after that he would just sit and you know work on the business. So he used to come late. And I'm like, uh if I want him to come on time and we have to spend time together, I better be in the office. And it's been what, not 20 years? I've never left the office. I know where wherever he goes.

Marc Bernstein 12:30

By the way, another similarity, my mother, whose father was an accountant, and she should have been the accountant in the business uh instead of my uncle, who really wanted to be an artist. It's a whole nother story. But she did that for my father's business. And I think that was her motivation too. Although he worked seven days a week in the beginning and all that. But I think the idea was for the family to try to help out so that there'd be more family time. So I completely understand that one.

Preeti Gohel 12:56

And I think that was a great decision at that time, like uh, you know, to spend more time with each other, work on the business together, and uh, you know, uh I I think it went really good.

Jay Gohel DMD BDS 13:10

It kind of segues into another book uh which is about having you know, every business has uh you know, a visionary which is like somebody who's a dreamer, you know. And and I can that would be me too. Right? Like I can really own that role is like I can dream and but then the vision the business also needs the the actual execution and operations where this is where she comes in because you know the the best dreams are just dreams without execution. And and that's why I think we make such a I think we are the dream team because we kind of kind of find those two roles. That's great.

Marc Bernstein 13:49

Literally dream team. I love that. So let's just talk. We only have about a minute, a little bit more than a minute before break, but tell us about like the beginning of the practice and any struggles you might have had, challenges that you had, and then we'll talk about the strengths you developed from that after the break.

Jay Gohel DMD BDS 14:05

So our quick real quickly um is short, one minute. Uh struggles was work-life balance. Um and uh I bit was very focused clinically and uh just had to bring her in. I was like, help me, you know, because like she said, you know, I'll never come home because I'll be here till midnight doing my numbers. Right. And I think we uh developed that. Um what do you want to add to that?

Marc Bernstein 14:29

By the way, no entrepreneur has ever come on the show and said work-life balance was a problem. I mean, I you know, it's it's it's the it's the big one.

Jay Gohel DMD BDS 14:37

Now now, now I I will say this and and we're short on time, but I will say there is no work-life balance. And and and she takes on the finances and I take on the clinical. But work-life balance, and I want to say just clarify to anybody who's listening, anybody who's thinking of becoming an entrepreneur, I mean, forget being an entrepreneur. If you're working anywhere, work-life balance work makes life possible. So if you're looking for like defined balances, it's not really existing.

Marc Bernstein 15:03

I I I'll take issue with that. When you start a business, I think you're absolutely right. I don't think there's any way around it. Yeah. But as you evolve, I talk a lot about, I mentioned to you guys that I have this friend that I met in the strategic coach program, Dan Sullivan, I talk about him a lot on the show, talks about the entrepreneurial time management system. Trevor Burrus, Jr. Time blocking. And if you get other people like Preety around you who are uh unique abilities that aren't yours, and you can focus on being the visionary, you then you can define your time and you can agree with that. Free days. Free days are 24 hours where you're no work at all. You're not sure.

Jay Gohel DMD BDS 15:42

We do do that. We we follow Dame a lot. Right. We read on traction is one of the other ones.

Marc Bernstein 15:47

So we know that. So anyway, we've got to take a quick break and we'll be right back on Founders Forum.

Sponsor Message And Smile For Freedom

Announcer 15:52

Your best smile and your best tomorrow can start today. At Aesthetic Dental Associates, we believe a smile is about so much more than teeth. It's confidence, it's health, it's the freedom to laugh, speak, eat, and live life without hesitation. As a Pennsylvania-based dental group, our mission is simple: to change lives by delivering exceptional dentistry with compassion, innovation, and a commitment to serving others. Whether you're looking for preventative care, cosmetic dentistry, dental implants, or a complete smile transformation, our team is here to help you achieve a smile you'll be proud to share. Service is at the heart of everything we do. That's why each year we're honored to host our Smile for Freedom event, providing complimentary dental care to local veterans as our way of thanking them for their service. It's one of the many ways we give back to the communities that have trusted us with their care. A healthier smile, a brighter future, a team that truly cares. Your best smile and your best tomorrow can start today. Visit theestheticdental.com or call 610-701-0102 to schedule your appointment. We look forward to welcoming you into our holiday.

Marc Bernstein 17:05

We

Starting A Practice In The 2008 Crash

Marc Bernstein 17:06

are back on Founders Forum. Wasn't sure if I had a microphone there. Uh Preety's gonna add some color to the beginning of the story and some of the challenges, so why don't you take it?

Preeti Gohel 17:16

Yes, so we started in 2008, and if everybody remembers that time and um you know. And uh I know like Jay um you know graduated in 2007 and from Boston University.

Jay Gohel DMD BDS 17:36

Graduated in India 2000.

Preeti Gohel 17:38

Yes, yes. Um at that time when he uh you know you know he went out to find a job, there were no jobs there. And um, you know, and we had uh our first kid um, you know, and we're like what to do at that point. And I think um we started with like thinking about it. If there are not jobs, we have to start somewhere, and we got this opportunity to buy a practice which was just part-time, and you know, um we still talk about like I think I sent out a hundred resumes and I visited a hundred offices and I could not find any jobs.

Jay Gohel DMD BDS 18:21

Nobody wanted to bring on an associate or retire. I was forced. Like the first office was like, you have no choice. You gotta if you wanna if you wanna feed the family and put food on the table, you're gonna have to buy an office.

Marc Bernstein 18:34

Yeah.

Preeti Gohel 18:36

Yeah, there was no choice. And I I don't think so before that, like Jay was uh, you know, thinking of uh, you know, I did not want to buy a practice at all. Yeah. And uh I think because I I feel like when you are, you know, when you are starting your journey, that's the time to learn the things, have a good mentor, then to jump into entrepreneurship. Uh because the initial time, and you know, that follows with uh financial freedom and you know all that stuff later that we are going to talk about. But initial time is to learn and you know have a right mentor with you. And we had to start with that, and I don't think so. That was easy. Like, you know, you like we had no idea what to do. Um, but that's what we are right now try to create for you know our team, like when they don't know what to do, we are there to support you.

Jay Gohel DMD BDS 19:35

I think that was um our biggest uh struggle was that was that was a very, very important point that you brought up there. You know, so we we've seen in our life cycle at least two major one was the subprime mortgage crisis, meltdown. I mean, it sounds it sounds good, you know, meltdown, it was like a cheese melt. It wasn't fun, it was not tasty at all. Uh would not want to go through that again. And then of course COVID hit us in 2020. That was an education in itself.

Marc Bernstein 20:00

Um hard to run a dental practice store, and you can't do that uh virtually.

Jay Gohel DMD BDS 20:05

Well, yeah, no, that's one thing I don't think anybody can ever run virtually. I mean, we were completely shut down. So, you know, I and that that's why we're creating the platform, which I know we're gonna talk about later on, is and and I'm focused so much because I had zero mentorship when I when I was forced to open. Like I was I I say this very clearly. I was forced to open my first office because I had no work anywhere. And having no guidance, no mentorship became like such a learning curve, was so steep, so crazy, you know. And and and I want to teach, and we both wanna, you know, we're we're both teachers, we're we're we're lifelong students. But one thing I also live by one of our credos is like we

Mentorship Gaps And Lessons From COVID

Jay Gohel DMD BDS 20:46

want to teach people and we want to share our knowledge, and that's probably again, I guess one good way to say legacy is what is what knowledge are you gonna leave behind that's gonna help somebody else thrive.

Marc Bernstein 20:58

So you be you you learn mentorship by being mentored ultimately.

Jay Gohel DMD BDS 21:02

Ultimately, yeah.

Marc Bernstein 21:03

Through the school of hard knocks, right, and and through the school, which is maybe one of the best ways to learn for sure, right?

Jay Gohel DMD BDS 21:08

Probably.

Marc Bernstein 21:09

It's not easy. We've not easy all been there.

Jay Gohel DMD BDS 21:11

Could have shortened the time frame if I had had a mentor.

Marc Bernstein 21:14

I can relate to everything you're saying, I understand. I eventually found some, but it took it took years took years, yeah. So I get it. So okay, so now you got through that. What strengths did you build? Obviously, you you built strengths of collaboration, you built strengths of being able to mentor staff, things like that. What else did you learn from those struggles?

Jay Gohel DMD BDS 21:35

Well, the first thing I I realized was understanding where my strengths are. What levers can I pull to kind of stabilize my practice? Um, and then the second is what are my weaknesses? You know, where is what is bringing a better you know production for me and how am I I'm managing the production and is there money left over after I'm working so hard both clinically as well as non-clinically? Is there a reason to kind of you know because I see a lot of dentists in their 60s and 70s and they cannot retire. So I've seen it too. Yeah, and and tr and and then when Preety came on board, and I want her to kind of expand on this a little bit, is understanding like, hey, is there mark is there some and and last week I was reading this post on social media, right? Somebody bought a practice. And guess what? Their take-home pay drops significantly after they paid the debt on it. And I'm like, nobody realized. Very common story. Nobody's understanding that just because you're a good clinical dentist, the natural progression does not mean practice ownership.

Marc Bernstein 22:47

So let me just ask you a pointed question. I think I think that's what led you to grow and acquire other practices, right? Because now you're not you're working on the business, both of you, not necessarily in it on a daily basis, correct?

Jay Gohel DMD BDS 23:02

At this point, yes. I would say pretty work

Why Multi-Location Growth Made Sense

Jay Gohel DMD BDS 23:06

I I do a lot of clinical director role, and pre has a financial role. Would that would you say that? Yes, definitely.

Marc Bernstein 23:12

But yours is oversight. It's not you're not doing dental work.

Jay Gohel DMD BDS 23:15

I'm not doing dental now. Again, to to be very clear, the reason we bought additional locations was because I loved doing surgery. I loved full mouth rehab and placing implants. And I did not want to do the general dentistry part. I didn't enjoy that. So I said, hey, listen, if I if I if I buy some additional offices, then I could I could do the surgery.

Marc Bernstein 23:40

You could be the specialist.

Jay Gohel DMD BDS 23:42

You know? Right? Would you go into that? How interesting.

Marc Bernstein 23:45

I didn't realize that part. Very interesting.

Jay Gohel DMD BDS 23:47

Yep. Yes, definitely. Do you still do do you still do the specialist role or something? I don't. I treat and plan a lot with my doctors. I train them how to treat and plan. Right.

Preeti Gohel 23:56

So I would like to add to this. I think uh dentists are good clinically, but they're not great at finances.

Marc Bernstein 24:07

I can speak to that one as well.

Preeti Gohel 24:09

Yes. So uh and it's very difficult. And uh, you know, we we always used to struggle, and I always wanted him to understand the finance part. And then um there was a period of time when it was really tough for me to make him understand that, and then I realized like that's not his strength, that's my strength, and his strength was mentorship because what he can do and he can, you know, teach other doctors. I think uh and then we decided this is your path, and finance is my path, and that's what we want to show and help the doctors in. Like, hey, no, clinically, we have a mentor here to help you clinically, and then uh finances, I come in that. Uh, you know, I also uh tell them, like, you know, you can say you're making a lot of money, but if you're not managing your expenses, then it's a problem. So there's a saying like CFOs always say no. So, and there is a reason why they say

The Money Mistakes That Sink Practices

Preeti Gohel 25:14

no, because they look at the numbers and how it affects, because he'll bring in things and say, Hey, I want this and I want this for the practice, and I'll say, Nope, let me do the numbers first.

Marc Bernstein 25:24

By the way, I just want to support that. We're gonna have to move on. But the first dental practice I work with, very substantial one, very great reputation, all that, great dentists, knew nothing about business, got robbed blind by a bookkeeper they had. Fortunately, because we were putting away a lot of money for retirement, we were helping them, they were able to bail out of of the IRS IRS in the state because they hadn't been paying taxes, the money was getting stolen.

Jay Gohel DMD BDS 25:52

In the last week, I have found out ten or eleven offices that have shut down. You know, it's all related to financial financial management or financial management. Eleven. That's that's that's scary.

Marc Bernstein 26:07

That's amazing. So that's a great, that's not a great story, it's a sad story, but it's a an important learning lesson. Um not much time left. So we actually have two minutes left, exactly. So um let me ask you a question, Jay. I know you're a rate reader, I think you're both readers. What what's your favorite book and why?

Jay Gohel DMD BDS 26:26

Um one of my favorite books would be The Principles of Influence by Joe Gialdini. And that's been a game changer in terms of understanding you know people's guilds and and how to relate to people and how to how to get better at what you do. How about you?

Preeti Gohel 26:48

So I have a lot of favorite books, but I'll tell you about the last book I read was Led Them Theory.

Marc Bernstein 26:55

Oh yeah, I love that.

Preeti Gohel 26:56

By uh Mel Robins. Yeah, and she she is great. Um the the reason I like that because sometimes, you know, we think about what other people are doing and we forget what strengths we have. I just keep myself in the bubble and reading this book made me more stay in my bubble. Like, you know, there are going to be things going around you, but you have to focus what you are doing, and you you'll get good results. You know.

Marc Bernstein 27:27

Right. It's amazing. Um only a minute left. Let's talk about your one-year vision for the practice. What does that look like?

Jay Gohel DMD BDS 27:35

I'll let you start.

Marc Bernstein 27:37

They pointed at each other for that one.

Preeti Gohel 27:40

Um I think it it's not one year, I would say like um I have s I have stopped counting time. I think I'm uh

Favorite Books And The Next Vision

Preeti Gohel 27:52

I like to work and I like I think one year if you say I always like it can be one year, two years, five years, I want to support people, uh, make them financially independent. That's that will be my goal. Like whether it's my team, whether uh, you know, I I think I want to support my team in that too.

Marc Bernstein 28:12

Well, I think you said it for both of you because we're out of time. Time flies on this show. Thank you all for being here this week. And we look forward to speaking with you again next week on Founders Forum.

Announcer 28:24

Thank you. Founders Founders’ Forum was brought to you in part, by March Forward, LLC. We partner with entrepreneurs like you to assist in accomplishing your future vision. Your life. Your business. Your legacy. Comprehensive wealth planning that starts with you -- not a product. We hope you enjoyed your time with Founders’ Forum and that you found something of value to take with you throughout your day. Join us again next week for another episode of Founders’ Forum on WWDB 860 AM Philadelphia, or on your favorite podcast streaming service. Securities offered through DFPG Investments, LLC (“DFPG”) Investment Advisory Services offered through Diversify Advisory Services, LLC (“Diversify”). DAS and DFPG are affiliated entities. March is unaffiliated with DAS and DFPG. Member FINRA/SIPC The information provided in this podcast is for informational and educational purposes only and should not be interpreted as investment advice. The views expressed are those of the host and guests and do not necessarily reflect the views of Diversify or DFPG.