How can I boost my net profit?

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Learn how to double your profits with a little help from dental business coach Andy McDougall from Spot On Business Planning[/caption]Dental business coach, Andy McDougall from Spot On Business Planning reveals his five top tips to help double the net profit of your dental practice – something Spot On clients tend to do every three years.

1. It’s great to have a vision but without proving it is financially viable, it is a potentially dangerous pipe dream. Not all visions make money! Ensure your ladder is leaning against the right wall before you run up it, otherwise you just get to the wrong place faster.
2. Is your dental practice generic? No! Your people, processes, brand, income, cost base etc., are unique to you so select specific performance measures that drive your dental business. They are your business fingerprints.
3. Make sure your decisions are based on the Break Even Point of your business. Understand Decision Making Accounting.
4. Ensure you know your Break Even Point to set profitable treatment/clinicians.
5. Understand how to measure the true return on your marketing. If you don’t know how, don’t make marketing spend decisions until you do!

“The biggest single difference SOBP has made to my business over the last five years is profit!” Matt Lamb, Glendair Dental Practice, Derbyshire

“We have added over £50K to our net profit simply by applying sound business principles of evaluation and cost control.” Chris Smirthwaite, The Smile Centre Liskeard

Free analysis of your dental business

Learn a lot about your own dental business with a free consultation with our dental business consultant Andy McDougall. Send us your last 3 years of financial accounts, 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 here to arrange a free analysis.