Time and Money! What about it?

I just returned from a week away from my business.  I spent the week with my husband, our son and DIL, along with our grandsons for a wonderful Spring Break in Arizona.  It was time well spent! 

I hear from so many entrepreneurs and dentists just like you who struggle to take any significant amount of time away from their business.  They are worried about the financial implications of shutting down the practice for a period of time. And when they do manage to get away from the office, they are in constant worry mode so they are often not fully present and attentive to the people they are with. 

They’ve bought into the idea that time is money.  Both time and money do have value, however they are very different from each other. 

We all have 24 hours in a day.  It’s finite.  Once it’s gone, we don’t get it back.  That’s why I say my time was well spent in Arizona because I was with the people I love and we were making memories.  

While it’s true that money can buy time (you can hire someone to do something for you), the value of it is that it can be renewed, earned, and saved.  It’s a tool that can provide some security.  Once saved and invested, money can provide passive income.

Being a dentist does put you in a position where you see patients by appointment and get paid for that time, effort, and talent.  You are trading your own energy (and that of your team), for an energy return.  That return happens to be the energy of money. 

I believe there is energy associated with money.  It can give you power when put to good use or saved.  Having enough money to give you peace of mind allows you to make decisions in a less stressful way.

On the contrary, being stuck in the ‘Time is Money’ mindset leads to high stress and burnout.  This situation leads to less energy and more frustration.

There is a better way!  Learning the secrets to money management is key.  Profit First is a money management tool that helps achieve financial goals on a faster timeline. The core principles are simple to understand, easy to implement, and produce results with the very next bank deposit.

 If you want to learn more about Profit First for Dentists, click the link above this Blog post and access the free resources.  You can start reading Profit First for Dentists right now with a free download of the first 2 chapters. 

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