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Enter Data in the Self Assessment Table (CAPs) the profitable dental practice Aug 05, 2024

Finalize Your Self-Assessment

Utilize this table to finalize your self-assessment!

In our previous blog post, we provided instructions on collecting the necessary data. Today, we are excited to guid...

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Gathering Data for the Self Assessment dental practice business management Jul 29, 2024

With Profit First for Dentists, committing to the self-assessment means you’re ready to face the truth about your financial situation. Are you prepared?

This assessment will show you how much money c...

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How to Determine Your Percentage Allocations for Each Account business of dentistry Jul 22, 2024

Once you’ve set up your five Profit First bank accounts, the next step is figuring out the allocation percentages so you can start transferring funds each week. This is where you'll see the real benef...

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Kickstarting Financial Success with a Profit Account the profitable dental practice Jul 15, 2024

When I work with my students, I always start by having them set up one extra account called Profit. This simple step can make a huge difference. Profit First is a behavioral system that leverages our ...

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Do You Know Your Profit Margins? Learn How Profit First Works dental practice business management 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 att...

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How Can I Create Consistent Cash Flow in My Practice? the profitable dental practice 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 their cash f...

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Core Principle of Profit First: How to Remove Temptation dental profit coach 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. Please d...

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Why Does Sequence Matter? the profitable dental practice 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 th...

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The First Principle in Profit First: Small Plates the profitable dental practice 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 1...

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What Do I Need to Know to Implement Profit First in my Practice? dental practice business management 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 Principle...

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GAAP and the Profit First Equation dental practice business management the profitable dental practice 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 within yo...

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Where Does the Money Go? Understanding Expenses with Profit First dental practice business 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 supply ...

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New Patient Growth and the Profit First Model business of dentistry dental practice business management 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 to have a...

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Dealing with Benefit Plans financial management 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 assis...

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