The dark art of dental practice valuations
If you’re looking to buy, we could save you an awful lot of money right at the beginning of your career as a business owner. …
Stop faking it if you want to make it
Plenty of practice owners still use the bank account as a business dashboard and have no idea who on their team is profitable. …
Work loose to lose the bottlenecks
When someone came in to help our sales and marketing people improve their project management skills, I eavesdropped. …
Decentralised command = operational excellence
Since we’ve been developing our Hive Intelligence product I’ve been talking to dental teams about their front desk software. …
Let go, and let your people take a punt
Bookkeeping is now cloud based and user friendly, so if you have a staff member who is keen to progress I can train them to use it. …
Information only helps when it’s used well
Business owners dismiss EBIT sometimes, just like we dismiss information that doesn’t conform to what’s happening in our lives. …
Fear of loss is powerful, but often a misperception
The main driver of behaviour, whoever you are, is fear of loss. …
You must change to grow
New facts have emerged since the June 2016 referendum and some people want another Brexit vote. …
The struggle within is worth figuring out
Dentists often seem prone to absorbing other people’s values. This isn’t a trait that’s limited to dentists, yet as a group, in my experience, they do display a need to conform. …
Being honest doesn’t make you a failure
The biggest problem for me and my clients is that we never seem to have enough time. …
A guide for the difficult conversations ahead
Many owners won’t realise they’re paying the wrong percentage because they are subsidising the practice, so even though they are paying their associates too much, the business still seems to be making money. …
Being a leader is harder for dentists
Anyone buying a dental practice is under pressure to create revenue quickly to service the debt and start paying it down. …
Now or later? The zero sum game of risk
If you were going to start a dental business next year, would you start one from scratch or buy one that’s already up and running? Which is riskier? I know which one looks riskier. …
Do you take the easy decisions?
The dangerous thing and the great thing about being your own boss is that you don’t have to answer to anyone. …
When not to buy a dental practice
The reality, if you're serious about buying something expensive, is that you’re going to have to live off other funds. …
Fix on the big picture, not fixations
Everything you invest in — your business as a whole, and its constituent parts like the infrastructure and the equipment — must be deployed properly to avoid needless costs. …
My friend says I should incorporate…what does this mean?
This particular question used to be a “no brainer”. …
Why are you still paying someone else to do your books?
It’s now easier than ever for business owners to handle their own figures and really get a grip on how they are really doing. …
