2018 is the year to unlock the profits in your dental practice

Published 17th January 2018 by admin.

Set your sat nav to the coordinates that will lead you to your destination, says dental coach Andy McDougall from Spot On Business Planning.

When you plan an unfamiliar journey in the car you set your sat nav to the coordinates that will lead you to your destinationm says dental business coach Andy McDougall from Spot On Business Planning.

You know where you are starting from and you know where you plan to finish and throughout the journey your sat nav will report on your progress: how far to go in miles, what time you expect to arrive, and if there are any issues along the way such as traffic jams, it will propose alternative routes.

The same principle applies to your dental business. You undertake your business journey year in, year out, but are you aware of your starting position or where you are aiming to finish?

It is very common that a dental business owner has a vision but is not aware whether the strategy being pursued will make the required level of profit in the years ahead. How dangerous to pursue a strategy that is not proven to be financially viable?

How do you go about generating the correct levels of profits?

How do you go about generating the correct level of profits?

Luck is not a business strategy but that is what you are basing your success on if you have no business plan. The business planning process is widely misunderstood and mistaken for a financial budget. When done properly business planning really means running your business to maximise profit.

Your dental practice will flourish if you apply a structured approach to planning your business success. It’s like a combination lock on a briefcase. Guess the numbers and you stand very little chance of success. Get the right numbers in the wrong order and you still can’t open the case. By following the steps in the right sequence and knowing the numbers you will achieve success and open the case. Likewise, in business planning terms, by following the right process, in the right way, you will unlock the profits hidden in your practice – it works every time!

The business planning process essentially answers four fundamental questions:

Where are we now?
Where do we want to be?
How do we get there?
How will we know when we have arrived

Double your net profit over three years

For a robust dental business plan and a strategy that not only leans against the right wall but doubles your net profit over three years, contact dental business mentor, Andy McDougall at Spot On Business Planning. Send us your last three years of financial accounts and Andy will analyse them and visit you to explain the strengths and weaknesses he reads in your numbers.

Call 01949 851723 or complete the form to arrange a free analysis.

Our next blog will consider:

Looking at your business from every angle – where is your dental business now?

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Our knowledge and experience of what makes a dental business tick is vast. We’d be delighted to reveal the secrets hidden in your numbers. Learn more about your dental business during a free Zoom consultation with Andy McDougall, who will use your specific numbers to illustrate how we could double your net profit in three years.

Send us your last three years' financial accounts. We will analyse them and during your one-hour complimentary Zoom call, Andy will explain the strengths and weaknesses in your numbers.

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“I have worked with Spot On for many years and they have never disappointed – you need to start working with them immediately!”

Spot On Business Planning is here to give you the tools and knowledge to understand the true financial situation of your dental practice”

Andy, Anne-Marie and all the team from Spot On Business Planning have been instrumental in how we’ve grown”

“Thanks to Spot On Business Planning’s wealth of experience, we are extremely confident that we will come out of this on the other side”

“Spot On Business Planning are experts in their field”

“The difference joining Spot On Business Planning has made to my business has been huge”

“It’s only when you start working with them that you realise how much they put into what they do”

“It’s hard to put into words how reassuring it is to have all the advice and expertise from Spot On Business Planning”

“We’ve made some really big changes and I don’t see how we could have done that without Spot On Business Planning”

“The advice you’ll get from Andy and his team is second to none”

“We thought we were good before, we are so much better now, thank you Spot On Business Planning”

“While most of the dental profession were in meltdown, we knew where we were financially & what our outlook was”

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