The number one question I get from dentists who are starting to implement the Profit First method is “how do I make sure this is going to work?”  This process is an investment of time…and time is prec...

After assessing your debt situation, it's time to develop a Debt Reduction Plan. To pay down your loans faster, you need additional cash flow (profit) in your business.

The Profit First model is perf...

Dentistry is an expensive profession. The cost of dental school and the investment required to open or purchase a practice often result in significant debt. Most dentists I work with are still paying ...

When you think about your dental practice, you’ll likely notice a daily rhythm to your activities. Similarly, most of us have personal routines that we follow each day. These rhythms create an unwritt...

Transitions take time. When you decide to switch to the Profit First system and start taking action, you’ll likely face some challenges. It’s a new approach, and new things can be tough.

When things ...

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...

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...

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...

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...

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 ...

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...

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...

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...

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...