FAILINGS The nine most commonly cited causes of small business failure are: Lack of financial planning Absence of business records No understanding or use of business records Poor cash-flow management Poor debtor management Poor inventory management Poor costing-pricing Poor market research Over-borrowing Any ...
Read MoreThink back to the day that you graduated from dental school. If someone had told you that there was a very simple plan to insure that when you got ready to retire, say 35 years later, there would be $3.4 million dollars sitting in an account waiting for you, would you have believed them or would you have thought that they were crazy? ...
Read MoreI have been remiss. I should have done this a couple of years ago. Like so many things in life, it seems that only the squeaky wheel gets any attention. Max told me about this book called Getting Things Done by David Allen about two years ago and I immediately downloaded it on my Kindle and read it in one sitting. At the time, I created a ...
Read MoreI had a call the other day with a Doctor and his wife, who works in the office, concerning staffing. It was a nice, twelve year old office, with average production, slightly below average new patient numbers, with about 3-4 employees. I had met each of the employees and interviewed them, along with allowing them to give us feedback thru a “Staff ...
Read MoreThe title comes from a commercial on TV, but also has a level of application to most dentists I have met. In the commercial the wife is pressing her remote for the door locks at a Rolls Royce while asking her husband why it won’t open. His answer is that they drive the 5 year-old station wagon in the next row. In dentistry, the story is a ...
Read MoreRecently we began one of the most interesting coaching outreaches I have ever heard of. It is called the “180 Degree Dental Journey”. In Portland, Oregon, an Endodontist has hired Summit to create a “never done before” 6-month coaching experience for their referral sources that would literally reshape any dental practice. A course so ...
Read MoreIn 1993, the number one comedy movie was “Groundhog Day” starring Bill Murray of Saturday Night Live fame. Bill was a weatherman who, for the fourth year in a row, was covering Groundhog Day where this “weather forecasting rat”, as he calls it, comes out and does or doesn’t see his shadow. The problem occurs when he realizes that he ...
Read MoreWe have all heard the retort: “I’ve fallen and I can’t get up”. A new year, a new challenge or even an old one we’ve put off until now. At one time or another we have all found ourselves struggling. If not just to get started, it’s figuring out why we’re stuck. To answer this question I would like to take five of Michael E. ...
Read MoreIn last month’s newsletter, I introduced the term “fun deprivation”. I defined it for you and then gave you a little exercise to complete, the purpose being to help you see what you might not be seeing about your true level of happiness and satisfaction within yourself and your team. If you didn’t take the five statement assessment ...
Read MoreI’m becoming more and more aware of a disturbing phenomenon in many practices today. I’m seeing it much more often and I fear it may be becoming a trend. In fact, it could be emerging as the new number one threat to doctors and their practices. I’ve even decided on a term to describe it: fun deprivation. Just to be clear, here is ...
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