Balance. It’s the holy grail of American workers—especially those in the healthcare industry. But it’s not as far of a stretch as it can seem after a stressful 13-hour day, a killer commute, and a hungry family waiting for you to get the burgers on the grill. All it takes is a bit of that
As a business owner, you have no choice but to constantly look for ways to increase your profit margin. If you’re not growing, you’re dying, right? Check out these 6 tips to boost your profits and stay alive. Revamp your revenue sources. First things first—know exactly where you’re making your money. If you’re relying on
Looking for financing? I have some good news and bad news. The good news is that you have options. Almost 10 years on from the Great Recession of 2008-2009, credit markets are flushed with capital and there are plenty of people and firms looking to lend money to businesses, both big and small. Which brings
It might seem odd to be discussing how to plan for a successful 2019 when we’re just mid-way through 2018, but planning is a continuous process. Besides, the planning we will discuss here can reap benefits for your practice or firm now. Cashflow planning Whether you own a medical, dental, or veterinary practice—or a
Much like the tech industry in Silicon Valley, the healthcare job market is “full”—meaning that it has less than 3% to 4% unemployment. Since there are more job openings than there is qualified talent to pull from, it’s become not only a challenge, but a competition, to bring in the best candidates. If you want
I’m glad to be sharing a three-part series on what it takes to become a successful practitioner and business owner. Many colleagues are contemplating starting their own practice and although the whole process is impossible to cover in this blog series, I will strive to touch on some very important concepts you need to have
Are you on the fence about hiring a new employee? Good. It’s smart to be cautious when it comes to growth. As a practice owner, workforce management is key. You need the right people—and the right number of people—to keep your practice humming. But how do you know when to actually pull that hiring trigger?
In case you’ve ever wondered, I can confirm: Skipping a business loan payment is a really bad idea. While most borrowers likely have every intention of paying back what they owe, sometimes they are faced with situations that prevent them from doing so (see my previous blog post). Once you miss a certain number of
First impressions are everything at your optometry practice. Especially when you consider the halo effect—the perception of positive qualities in one thing or part giving rise to the perception of similar qualities in related things or in the whole. And it all happens in seven measly seconds. That’s right. Your patients are making snap judgements
If you want to be successful in business, it helps to know math. And if you know math, it helps even more to know accounting. Accounting is the backbone of your business, whether it’s a healthcare practice or a small company on the side. It is the circulatory system and heart of every business, regardless
As a lender, we see a full range of customers: those who pay the minimum, every month; those who aggressively work toward paying off their loan in full; and those who simply don’t pay. Obviously, nobody wants to be in that last bucket, but sometimes—largely due to unforeseen circumstances—it happens to even the best-standing and
Dentistry is evolving. What are you doing to keep your competitive edge? In a landscape where a trip to your competitor’s office includes a full array of spa services, you need to be continually thinking of ways to stay relevant. No, you don’t have to hire a full-time massage therapist or start giving Botox injections.
When someone is potentially willing to lend you money, it’s not because they like you. Hopefully, they do like you, of course. But whether a lender likes you or not won’t have much of an influence on whether you receive a loan. That’s because business loan decisions are made on facts and data to ensure