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How to structure your practice debt to
maximize your financial health
 The way you
structure your practice debt will make a material difference to your cash flow,
your retirement and your ability to enjoy life.
In this article I am going to provide you with a frame work for determining your
ideal debt structure. This material is taken directly from
The Financial
Leadership Solution™ which is the best way I have found for helping doctors
through this process.
Click here for the entire article.
The Trick To Wealth In Dentistry - Part 1
 As a financial
consultant, I have seen financial statements from hundreds of dentists. When
judging success from a purely financial perspective, there is a definite
pattern to what the successful dentists have done versus their unsuccessful
counterparts.
In this two part article, I will share with you my observations and provide you
with some strategies that you can apply in your own practice.
My observations are from my work providing commercial lending and financial
consulting to dentists across the United States, from all specialties, from 1996
until today. All of my clients must expose all of their financial information
and are subject to in-depth analysis of their practice and personal lives.
Click here for the entire article.
The Trick To Wealth In Dentistry - Part
2
 Wealth
Creation Tip #3 – Control your ego and you minimize your financial mistakes.
Behavioral Economics seeks to identify the
psychological drivers behind financial decisions. For example, in general,
people are willing to pay more for a good when purchased on credit than they
would if they were paying cash.
We will explore several ego driven mistakes by first
defining what they are and then providing an example.
I coined the first mistake “placing your ego in
front of your wallet”. This is when your ego driven response to something costs
you money.
Click here for the entire article.
Financial Pitfalls of Expansion
Projects and How to Avoid Them
Wouldn't it be nice to
have perfect hindsight before you make a big financial move? When we get excited
about something, we tend to downplay the potential risks and focus on the
benefits.
In my experience,
acting prior to planning creates $100,000 mistakes all of the time and is the
largest reason for many of the common problems in expansion projects.
What if you could
actually isolate the risks and then mitigate them before you began your project?
One of my favorite
sayings is “intelligence is no substitute for experience”. If you have always
been successful at everything you have done, you may be at risk for thinking
your success in one area will be applicable in another.
Click here for the entire article.
6 New Year's Resolutions For 2006
Goal Setting
Let's say we are
having a conversation three years from today and you are looking back over those
three years. What would have had to have happened for you to feel really good
about your results?
The answer to this
question should drive your goals. The people you hire to help you will drive
your strategy and execution to achieve your results. You must take personal
responsibility for all of the outcomes. Here are list of resolutions to consider
as you contemplate the question.
Click here for the entire article.
Have a question or a
comment for me? Send it to
david@financegeeks.com.
Finance Geeks
provide unique wisdom and expert advice to dentists that are contemplating or
have completed large financial projects like expansions or transitions. Their
strategies help dentists create and maintain wealth. David Catalano has over 19
years experience dealing with dentists. See them on the web at
www.financegeeks.com.
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Are You Building Or Moving
Your DENTAL OFFICE
But Do NOT Have Someone
Representing Your
Financial Interest In The Process? You Need The...
We offer 2 programs to help you
through your project:
The complete 3-part program - The
Financial Leadership SolutionTM
for the dentist who wants to delegate and stay focused on dentistry
or just the 1st part of the program, The Financial Health
AssessmentTM if you are a do-it-yourselfer.
Click here for more information
on these programs and how to contact us.
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DO YOU NEED A SPEAKER for your
association or your local study club meeting?
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Offer A Full Range Of Financial Consulting Services For Dentists.
