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Do You Know Your Profit Margins? Learn How Profit First Works allocation banking dental practice dental practice growth dental practice profitability Jul 08, 2024

Being self-employed comes with its own set of highs and lows. There are days when the workload feels endless, and you might question whether the freedom you sought in starting your own business is...

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How Can I Create Consistent Cash Flow in My Practice? cash cash flow dental practice profitability pay off debt Jul 01, 2024

This is the fifth and final segment in our series on the Core Principles of the Profit First for Dentists method. Let’s focus on the last principle: Enforce a Rhythm.

Dentists often find...

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Core Principle of Profit First: How to Remove Temptation banking behavior money management Jun 24, 2024

Once an entrepreneur starts funding the Profit and Tax Accounts, these funds begin to accumulate. Over time, as the cash grows, you might be tempted to reinvest it all back into the business....

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Why Does Sequence Matter? dental office profits dental practice growth dental practice profitability Jun 17, 2024

There is a reason why sequence matters when it comes to your practice finances. In fact, this is the second core principle of Profit First for Dentists.

The Primacy Effect

First, let's talk about...

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The First Principle in Profit First: Small Plates dental office profits dental practice profitability expenses Jun 10, 2024

There are five Core Principles of Profit First for dental practices, and the first is known as the 'Small Plates' principle.

Let's cover some background information to provide context. In the early...

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What Do I Need to Know to Implement Profit First in my Practice? dental practice growth financial management financial organization Jun 03, 2024

In the Profit First system, there are four core principles. In this blog, I'll give you a brief introduction to each, and over the next few weeks, I'll dive deeper into each one. 

The First...

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GAAP and the Profit First Equation dental practice growth dental practice profitability expenses gaap profit first May 27, 2024

Dentists work hard, their dedication is remarkable and they deserve fair compensation, which, unfortunately, isn't always the reality.

Let’s understand how fair compensation can be achieved...

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Where Does the Money Go? Understanding Expenses with Profit First dental practice ownership expenses financial management money management May 20, 2024

Do you find yourself in a situation where money seems to come in and go out of your dental practice at lightning speed? Bills never seem to stop, payroll sneaks up on you, and there's always a...

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New Patient Growth and the Profit First Model business growth dental new patients dental practice growth sustainable growth May 13, 2024

Every clinic wants to increase its patient base, but how do you manage that growth effectively without stretching your resources too thin?

When it comes to growing your practice, it’s vital...

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Dealing with Benefit Plans budgeting cash flow dental benefit plans dental practice ownership May 06, 2024

Today, we're focusing on a particularly pertinent topic in the dental community: managing benefit plans. This subject is increasingly relevant, and many professionals dedicate their expertise to...

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Production Model vs Profitability Model in Your Dental Practice dental new patients dental practice profitability production profit first Apr 29, 2024

Many dentists I talk with think that the key to growing their practice is simply increasing how much they produce. They often have a yearly target, which is great for setting goals, but from what...

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Planning for the Future with Profit First exit strategy financial planning future planning retirement planning Apr 22, 2024

Feeling a bit burned out? Take a moment to think back to when you first started or bought your practice. Remember how excited and energized you were at that time? You were full of enthusiasm and...

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