The Best Investment (always and ever)

I don’t know how you’re feeling these days, but I personally do feel some anxiety about the economy.  The stock market is down.  Living expenses are up.  The unknown is increasing daily.   

I promise this is not a political post.  I don’t talk about politics.  This is only to acknowledge that we are living in a time of change once again. 

I keep seeing posts about investing in the stock market now because the prices are down and it’s a ‘buyers’ market’.  Maybe you’re seeing this too. 

It’s easy to start questioning yourself and begin to wonder whether you should be investing and getting in on the deal.  It can leave your head spinning in a hurry. 

I think there is probably a better investment.  In fact, I know there is.  And it’s so easy to do.  It’s time to look within and focus on you.  Yes, you! Yes, your business. 

I would bet on you!  Invest in your own business.  Grow it using a profitability model.  True profit increases value more than anything else.  When you’re ready to sell your business, profitability will determine the price.  Take the time now to set your business up for sustainable profits no matter what is happening in the economy. 

If you look back in time at the history of recessions and all of the downturns in the economy, even in 2008 during the real estate crash, dentistry as a whole did not take the same downturn as most other businesses.  Dentistry flatlined for a while but it stayed consistent and profitable.  This is why investors routinely choose dental practices to boost their profits.  Think DSO growth. 

Now is the time to take a look at your own business.  Do you have systems for cash flow?  Do you know your true profitability over and above paying yourself as a dentist working in the practice?  Do you know your true overhead, meaning every dollar that left the practice? These should be simple questions for you and if they’re not, maybe it’s time to take a look at your business from a different perspective. 

Profit First for Dentists is a profitability model.  It’s more than just moving money from one account to another.  It’s a deep dive into the business side of your practice.  It’s coming out the other side knowing where all your money goes and for what purpose. 

If you want to find out more, please reach out.  Use the 'contact us' tab above.  I’d love to hear from you. 

Barb Stackhouse RDH, M.Ed. Mastery Level Profit First Professional & Advisor