Dental coach asks the tricky questions – Dragon’s Den style!

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Drill into the detail with dental business consultant, Andy McDougall from Spot On Business Planning[/caption]Those Dragons are well known for asking the trickiest of questions and what is so often proved is that many people don’t have much of a clue when it comes to tough financial probing.

Do you?

Here are some Dragons Den style questions as posed by dental business consultant, Andy McDougall from Spot On Business Planning.Do you know what areas of your dental business are profitable and which are not?If you have three income streams NHS, dental plan and fee per item, do you know the net profit of each?Take treatments, again do you know which return a net profit? Dental business mentor, Andy McDougall guarantees several will make a loss.Similarly, so will your fee earners. Do you know which ones are profitable?So let’s assume you do know and you have discovered the loss-making areas of your dental business. Do you know what to do to deliver the correct profit from these areas?

Doubling your profits is easy…

Doubling your net profit is easy if you know how and it’s not a marketing game. Yet the industry seems set on making it a marketing game that aims to makes you bigger but not more profitable. This is the most common problem dental practices face.Everyone knows net profit is the result of your income minus your operating costs. But do you know how each of those operating costs behaves in relation to your income?

There’s no such thing as generic in business, only generic principles

Your dental business is unique, just as you, your team and your business model are. You will never realise your business potential as long as you look at the face of your accounts. Delivering the results means drilling into the detail.Don’t be one of the 90%. Decide to be more and achieve more. Make a decision to unlock the profits hidden away in your dental business. Contact Spot On Business Planning today.