Strategies for Success Library

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Articles for Practice Ownership & Management

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Understanding the ‘numbers’ of your dental practice is the key to becoming a better business manager.

Payroll processing includes three basic steps – calculating wages and deductions, providing employee payments, and making appropriate tax deposits. Sounds pretty easy, right?

We have all heard a colleague or friend declare, “My landlord is the worst!”  However, many dentists are unaware that even the best landlord may be waiting for you to sell your dental practice (or attempt to sell) before revealing what truly lurks in the lease you signed when you began your dental practice. 

When I was 38, I returned to school to get my master’s degree. One day, I lamented to a friend that I would be 41 when I graduated! She kindly replied that I would be 41 regardless, with or without a degree. She reminded me of the obvious: time passes no matter how we spend it. Wouldn’t you rather spend yours in a growing practice, providing top-quality dentistry to grateful, paying patients, with a well-trained staff of dedicated professionals? Wouldn’t you like to see your practice thrive over the next 12 months? 

“It should have worked out—she had 15 years of experience.” Sound familiar? The people you employ can be your greatest practice asset, but not without a system in place that takes the guesswork out of the hiring process.

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Disclaimer

Articles and information available in the Strategies for Success Library are for general information only and do not constitute, nor are they intended as, a substitute for legal, tax, financial or other professional advice. Readers should consult their own attorneys, accountants, financial and/or other professional advisors for advice applicable to their particular situation. The opinions and views expressed in the articles are the opinions and views of the author(s). Matsco provides all articles and all information therein "AS IS". Matsco makes no warranties, express or implied, regarding any of the articles or the accuracy or completeness of the information contained therein. Readers should be aware that articles or information contained therein may be incomplete, may contain errors or may have become out of date. Matsco disclaims any duty to update any articles contained in the Strategies for Success Library.