You might have heard of Profit First and maybe you’ve read the book. Perhaps you’ve been receiving my emails about the topic as it relates to dentistry. Or it could be you’ve tried implementing it on your own and are still searching for some answers.
It’s human nature to first try it out on your own. Being a smart dentist…you made it through dental school…it’s natural to assume you can figure it out. Sometimes that works out okay and other times not so much.
I have no idea where you are in the process of implementing Profit First in your Dental Practice. And I have no idea of the specific challenges you may be facing. I do have an idea of the many challenges most dentists face when it comes to managing cash flow. I see things like high practice debt, high lab & supply costs, credit card debt, tax payments due, equipment loan payments, and more. You can fill in the blank for yourself…or not, if none of these apply to you.
It really doesn’t matter what the reason is that peaked your interest in the concept of Profit First or the question, “Will it work for me?” We all ask this same question when making decisions. Is this thing I’m thinking about implementing going to help me or hurt me or do nothing at all? It’s a reasonable question.
When considering Profit First as a Cash Flow management system for your Dental Practice, take note of the simplicity and ease of the plan. I have to be honest here, I’ve used other systems but Profit First is hands down the simplest to understand and easiest to implement.
Simple and easy are nice but maybe not the most important thing to consider. What really matters is, “Does it work?” You are probably wondering if you really will have more profit by using this system. The answer is “Yes” if you follow the system. Even a healthy business can achieve more profit and more clarity.
The Profit First system is designed to empower you when it comes to financial decisions. By learning and implementing the core concepts, you will know your best next step to take.
Don’t take my word for it. Here’s what one of my clients had to say in an email he sent me.
“The good news is I really feel I have the profit first system down! Distributions are going in and I am seeing ways to cut variable expenses. My team members are also happy because they know their budget and don’t have a grumpy doc stressed out about the bank account.” from Dr. Nathan
My belief is any business can be more financially healthy by using the Profit First system. I say this because of the proof I have from many sources including dental practices. If a baseball team can run their operation using Profit First, as well as a mom & pop shop, then you can too!
If you like to follow step by step systems that make perfect sense, Profit First for Dentists will fit you well. Email me at firstname.lastname@example.org. I’d love to hear from you.“