Last week, I shared how to input your own statistics into the table, allowing you to evaluate your current allocation percentages. If you haven’t completed the assessment yet, you won’t be able to set your target percentages. Every practice is unique, and it's essential to start with realistic percentages.

If you have completed the assessment and know your current percentages, it’s time to set some targets or goals. Setting a target percentage means being specific and measurable. You’ll be able to track your progress and see if you reach your goals.

To stay committed to your targets, share your goals with someone who will hold you accountable. Regular check-ins can help keep you on track.

Setting Realistic Target Percentages

Your target percentages should be challenging yet realistic and attainable within a reasonable time frame. Once you reach your target, you can set a new one.

For example, if you haven't been using a Profit Account and your current percentage is 0%, it’s unrealistic to aim for 10 or 15% right away. Start with 1 or 2% for a few months. Once you're consistent with these deposits, gradually increase the percentage.

Having a plan is crucial for success with Profit First. I call this your Roll Out Plan. If you want to discuss what your plan could look like or what your next steps might be, take a moment to schedule a time to chat with me.

I assist dentists in achieving this freedom through the Profit First system. If you’re curious to learn more about balancing profit and growth, visit www.profitfirstdentist.com and tap the 'Free Resources' tab to download the first two chapters of my book for FREE! Let’s talk about how you can grow your practice!

USA:

-Barb Stackhouse, RDH, M.ED.

Mastery Profit First Professional

"I’m Barb Stackhouse, author of Profit First for Dentists. You might recognize me as the professional behind the Profit First approach for dental practices. I’m passionate about helping dentists implement this effective cash flow system, which is why I wrote the book. My goal is for more dentists to read it and integrate this system into their practices because it genuinely works." 

Canada:

-April Stroink, BComm, RHU, EPC, PFP

Advanced Profit First Professional

With over 25 years of financial expertise, April Stroink helps in transforming the financial health of dental practices across Canada. As an experienced Profit First coach, April is committed to helping you increase your profits, optimize your cash flow, and achieve financial peace. She believes that your business should enrich your life—enabling you to create the life and business of your dreams without compromise.