Category: Money

About a week ago I started asking my clients to think about their “Top 6 goals for 2018”. The answers have been enlightening because, without fail, they have been qualitative and not quantitative. Examples: Better health; More relaxation; Time for family adventures; A reduction in clinical days; An easier workload; Decisiveness. In fact, so far…
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For once, I’m going to refrain from naming the client I’m referring to in this post, to respect their confidentiality. However, I have to report my own feelings of exultation when they shared with me the results of their last 12 month’s performance. Increase in sales – 10%. Increase in net profit before tax –…
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With retail sales for the last 3 months dropping well below previous years and in the aftermath of a hard economic outlook in Tuesday’s Budget speech, today’s Black Friday sales will be critically important for British business. UK consumer confidence appears to be low. The high street (and, it appears, everyone else) has gone online…
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I refer you to Colin Campbell’s blog yesterday (and don’t forget to scroll down and read the subsequent comments added by myself, Colin and Steve Hudson): http://www.campbellacademy.co.uk/blog/the-future-of-dentistry Possibly one of the most important blog posts you will read this year? If (and only if) the alleged situation is accurate, it signifies the beginning of that…
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Payroll costs in dentistry are increasing as a percentage of sales. To maintain your profitability, are you going to have to pass on that cost to your patients? Consider the alternatives: pay less wages to fewer people pay yourself less make less profit It seems that most owners are choosing the last of these options.…
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Recently, I have met three young dentists who have bought practices under what I can only describe as questionable circumstances. Three different locations around the UK and yet the audit trail of events that is disturbingly similar: Existing owner in mid-50’s decides to sell whilst goodwill values are at an historic high; Sales figures for…
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