Dr. Marshall Gibbs is a highly accomplished entrepreneur, dentist, and philanthropist who has made a significant impact in various fields. From Culdesac, Idaho, Marshall developed a strong work ethic from an early age growing up on a dryland farm and cattle ranch.
Marshall’s commitment to excellence is evident in his achievements as the Founder and CEO of Mint Condition Dental, an Inc 5000 company with four locations in Eastern Washington, (Cheney, Colfax, Pullman, and Liberty Lake) where he has created a culture of excellence and innovation, constantly seeking to enhance and provide the best possible experience and care for his patients while focusing on the growth and development of his team members. He is also a dental life coach, empowering other dental professionals to reach their full potential and achieve success in and outside of their careers. He understands the challenges of the industry and provides guidance and support to help others overcome obstacles and achieve their goals.
Marshall’s entrepreneurial acumen is apparent in his ability to grow his de novo practice, generating an impressive revenue of 1.2MM within the first year, and increasing his hospitality-based business by 33% during the initial 12 months of ownership. He demonstrates a keen eye for identifying underperforming assets and transforming them into profitable investments.
Dr. Gibbs values giving back to his community and spending time with his family. He has provided free dental work and resources to various charities and causes. He also founded the Evalynn Mae Foundation in memory of his daughter, providing resources to toddlers in need.
Marshall’s passion for agriculture and entrepreneurship led him to oversee the over 100-year-old family wheat farm after his grandfather’s passing in late 2022. He is excited about the opportunity to use it as a vehicle for teaching his two young boys valuable lessons about life, business, and hard work while spending quality time together in the outdoors.
How did you get started in this business?
I’ve always been interested in dentistry, and it all began with my childhood dentist. Growing up on a farm, I developed a love for working with my hands and solving problems. Dentistry allowed me to combine my passion for the medical field and helping others with my love for hands-on work.
How do you make money?
My company’s main source of revenue comes from the skilled services of our providers to our patients. This includes preventative care such as cleanings and checkups and restorative treatments such as fillings, crowns, implants, and bridges. In addition, we offer cosmetic procedures such as Invisalign, teeth whitening, and veneers.
While making money is a necessary aspect of running a successful dental practice, my primary focus is always on providing the best possible care to my patients. This means staying up-to-date on the latest techniques and technologies in the field of dentistry and working closely with each patient to develop a personalized treatment plan that meets their unique needs and goals. By prioritizing patient care and satisfaction, I believe that financial success will continue to naturally follow
How long did it take for you to become profitable?
4 months. During those four months, I focused on providing high-quality, personalized care to current patients and effective marketing strategies to reach new patients. I also carefully tracked my expenses and made smart decisions to keep my costs under control. By staying disciplined and focused on my goals, I was able to achieve profitability in a relatively short amount of time.
When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?
Absolutely! I have faced many challenging times in my career. One such instance was when my daughter passed away while I was in the middle of building out a de novo practice for my third location. Despite the immense personal tragedy, I knew I had to keep the business moving forward. Fortunately, I had the unwavering support of some amazing mentors and a coach who encouraged and guided me through the difficult period. I believe my hardworking nature played a major role in getting through that challenging time. I have always been driven to do whatever it takes to achieve my goals. Moreover, my ability to adapt quickly and pivot when faced with unexpected challenges has been instrumental in my success.
How did you get your first customer?
When I first started my dental practice, I was fortunate enough to acquire an established office that already had an existing patient base. This allowed me to hit the ground running and start seeing patients right away. However, I didn’t simply rely on the existing patient base to sustain my business. I made sure to provide exceptional care and service to each and every patient that walked through my doors, which helped to build a positive reputation for my practice. As a result, many of those initial patients referred their friends and family members to me, and my patient base continued to grow from there. We utilized various marketing strategies, such as social media and targeted advertising, to attract new patients and keep my practice top-of-mind in the community. Overall, my commitment to providing top-notch care and my strategic marketing efforts were instrumental in building and expanding my patient base.
What is one marketing strategy (other than referrals) that you’re using that works really well to generate new business?
I have found that utilizing social media platforms such as Facebook and Instagram has been a highly effective marketing strategy for generating new business. By regularly posting informative and educational content about dental health, sharing before and after photos of successful treatments, and engaging with followers through comments and direct messages, we have been able to attract a significant number of new patients to our practice. Running targeted social media advertising campaigns with special offers or highlighting specific services has helped to drive even more traffic to our website and ultimately convert leads into new patients. Overall, leveraging the power of social media has proven to be a valuable tool in growing our dental practice and reaching a wider audience, especially the younger population.
What is the toughest decision you’ve had to make in the last few months?
As a leader, one of the toughest decisions I’ve had to make in the last few months was related to our company culture. We were experiencing some internal challenges that were impacting team morale, and I knew that we needed to take action to address the issue. After consulting with my team and gathering feedback, I made the difficult decision to implement some changes to enhance our company culture. This involved adjusting our communication practices, redefining our values, and providing additional support to our team members. I’m proud of the progress we’ve made and the positive impact it’s had on our team and our business.
What do you think it is that makes you successful?
I strongly believe that the key to Mint Condition Dental’s success is our unwavering focus on prioritizing the customer experience. Our ultimate goal is to deliver a consistently exceptional and unforgettable experience to each and every patient. From the moment they contact us, to the moment they step foot in our office, our patients are our top priority. We strive to make them feel heard, seen, and valued at every touchpoint.
Our commitment to providing a “wow factor” experience is what sets us apart from our competitors. We understand that we can be the most skilled providers, but it is a patient’s experience that can make or break their decision to return to our practice or refer us to others. Therefore, we go above and beyond to ensure that every interaction with our patients is personalized, positive, and meaningful.
What has been your most satisfying moment in business?
As a business professional, I have experienced many satisfying moments, but the one that stands out the most is when I created a business that is truly dedicated to the people. This experience has been incredibly rewarding for me on different levels.
Firstly, it has allowed me to provide a work environment that fosters growth and development for my team members. I believe in investing in my team, and seeing them succeed in their careers and personal aspirations has been a source of pride and accomplishment for me.
Secondly, my business has given me the opportunity to make a positive impact on the lives of the patients we serve. It’s always been important to me to provide exceptional care and service, and seeing the difference we make in our patients’ lives has been incredibly satisfying.
Lastly, my business has allowed me to give back to the communities we serve. By creating a business that is dedicated to the people, we have been able to support local initiatives and charities, which has been fulfilling and rewarding.
In summary, creating a business focused on people has been my most satisfying moment in business. It has allowed me to make a positive impact on the lives of my team members, patients, and communities, and I am grateful for the opportunity to do so.
What does the future hold for your business? What are you most excited about?
As we look to the future of our business, we are excited about a number of different initiatives and opportunities that we believe will help us to continue to grow and evolve as an organization. One of the key areas that we are focused on is enhancing the patient experience, and we are exploring a range of new technologies and tools that will allow us to do this.
Additionally, an area we are focused on is developing our team members and providing them with the tools and resources they need to excel in their roles.
We believe that investing in our team members is critical to our success as a business, and we are committed to providing ongoing training and development opportunities to help them continue to grow and evolve in their careers.
Overall, I believe that the future is bright for Mint Condition Dental, I am excited about the future and the opportunities that lie ahead. We are committed to continuing to grow and evolve in a way that aligns with our values and mission, and to providing the highest quality of care to our patients.
What business books have inspired you?
One business book that has greatly inspired me is “Think and Grow Rich” by Napoleon Hill. This book has been a game-changer for me in terms of mindset and motivation. The book emphasizes the importance of having a clear vision and a burning desire to achieve your goals.
One of the main takeaways for me was the power of positive thinking and visualization. By focusing on what you want to achieve and believing in yourself, you can overcome any obstacle and achieve success.
Another key lesson from the book is the importance of persistence. The road to success is never easy, and setbacks and failures are inevitable. However, by staying persistent and not giving up, you can achieve your goals.
Overall, “Think and Grow Rich” has been a powerful source of inspiration and motivation for me in my business journey. It has taught me the importance of having a positive mindset, persistence, and a clear vision for success.
What advice would you give to your younger self?
I would advise my younger self to prioritize seeking out mentors and colleagues who can offer guidance and support. Additionally, I would remind myself to prioritize self-care and work-life balance, as the demands of the profession can be challenging and stressful. Taking care of my own physical and mental health would ultimately make me a better husband, father, dentist, and resource for others.
Are you willing to be a mentor? If so, how should someone contact you?
I am absolutely willing to be a mentor. I currently offer coaching services as I believe that mentoring is an essential aspect of professional development and growth, and I am committed to supporting the next generation of dentists in any way that I can.
Throughout my career, I have had the privilege of being connected with many talented and experienced dentists and business owners. I recognize the importance of passing on this knowledge and expertise to others, and it is my passion to have the opportunity to do so.
As a coach, I would be committed to providing guidance, support, and advice to aspiring dentists. Whether it involves answering questions about dental procedures, sharing tips for building a successful practice, or simply providing encouragement and motivation, I am eager to help others succeed.
Ultimately, my goal as a mentor would be to empower and inspire others to become the best versions of themselves. I believe that by sharing my knowledge and experience, I can help others to achieve their goals and make a positive impact in the world of business and service.