Half of all small businesses go out of business, they never even see their fifth birthday. And it’s pretty much because of one reason; they just simply ran out of cash. Today we are talking with Adam Lean on the #1 reason that 50% of businesses fail, and how business owners can prevent it from happening to them.
Adam Lean is the founder of the CFO Project. Adam became an accountant immediately after college, but quickly realized accounting was NOT his calling. He left the 9-5 world to launch and eCommerce company, but after a few years, something felt off. Sales were up, the business was growing, but the numbers in his bank account just didn’t tell the same story. Even as an accountant, Adam was frustrated by the financials, leaving him completely overwhelmed as a business owner. He set out to learn exactly what business owners should be focusing on, and eventually founded the CFO Project. Today he helps small business owners determine what is and isn’t working in their businesses, by guiding them through a proven system to ensure their business is financially solid and more profitable- without the emotional overwhelm.
Creating a culture in your practice where people are self managed and there is distributed decision making is so important. Creating a culture where everybody is a leader in the practice can really take your business to new levels. Today, Dr. Anissa Holmes is talking with us on how to create this type of culture.
Dr. Anissa Holmes, a Dentist, Business Acceleration Coach, Social Media Strategist, and Best Selling Author is a leader in the dental industry. Dr. Holmes has coached and advised coaches, million dollar practice owners, and startup practices. Based on her massive success, Dr. Holmes has been featured in top dental publications, such as Dental Economics, Dentistry IQ, and Dental Products Report, and has been featured as one of the top 25 Women in Dentistry. Dr. Holmes has also been featured in the TOP selling business books The 30-Day Book and Rise of the Youpreneur.
How can you get an issue resolved forever? The key here is to delegate the RESPONSIBILITY, not the TASK. Get a system in place, not an angry boss in place. It should be a system THEY (your team) designed and THEY run, because people commit to what they create; input equals ownership. Tune in for 5 steps to get an issue resolved forever and off of your plate.
Today we are talking with Stephen Strecker and Jeremy Keck on Revitalizing your Practice to Maximize Enjoyment and Profits. One of the biggest things is when you think about enjoyment and that passion, is how do you feel about your space? Does it represent you and does it represent how you want to practice? Taking a new look at your space and changing things up could really benefit you and your practice!
Stephen Strecker is the President of Tower Realty Partners. Working in the healthcare real estate industry for the last several years, Stephen has worked with hundreds of healthcare professionals. From startups to relocations, and expansions to additional offices, Stephen ensures the lease or purchase is set up correctly and believes this is the foundation for successful practices.
As the CEO of Tower, Jeremy brings 20 years of finance and real estate experience. He has held numerous sales, leadership, and executive team roles with Bank of America, Carr Healthcare Realty, and LendingClub.
What’s driving the need to maximize personal wealth? Number one, people want to take care of the people they love. Number two, support the causes they care about and number three, they really want to make that difference in the world and support those causes, and be able to move the needle on things that matter for them. And so they see wealth as a tool for changing the world for the better. Tim McNeely is our guest today and is giving us great strategies that successful dentists are using to maximize their personal wealth.
Tim is CEO of The LifeStone Companies and he knows dentists. Tim is a recognized thought leader in the dental industry, a regular speaker for dental societies, and a contributing author for popular dental publications. He was asked to contribute the forward to a special edition of: “Becoming Seriously Wealthy: How to Harness the Strategies of The Super Rich and Ultra Wealth Business Owners.” Tim offers a creative approach to epic dentistry business practices in 2019.
Tim has extensive knowledge of the Super Rich – those with at least $500 Million. He makes those strategies available to everyone, no matter their level or net worth.
Today I’d like to talk to you about Open Space Leadership, or how to get everybody running your practice. Open Space Leadership is practiced by strategic leaders in participation age companies, and really by any good leader anywhere. It encourages distributed leadership because it allows and actually requires every one of us to lead in some way. Open Space Leadership is the act of throwing out an idea, concept, need, or data point and inviting everyone and anyone to jump in, participate in solving it, and to share and the rewards.
Today we are talking with Justin Krane on how to Automate Your Finances so that you feel like you have a plan to get ahead in your financial life. The reason why we want automate our finances is because a lot of times, we get emotional around money, and we need to get out of our own way and just come up with a plan. Automation removes emotion, and it forces you to be disciplined.
Justin Krane is a Certified Financial Planner ™ Professional and Fractional CFO for business owners, with an emphasis in the dental industry. His mission is to help practice owners understand and get clarity on the money side of their business. He teaches entrepreneurs how to be strategic with their business money so that they can grow their businesses – and build a plan to fund their personal goals.
Most dentists have a lot of debt in their practice. Most do not understand the burden of servicing debt has on their cash flow. They can have a profitable practice and pay a lot of money in taxes, but still don’t have a lot of money in their pockets. One dirty little secret is for a dentist to understand the balance sheet and how that burden of debt affects the cash flow. Tune in for more dirty little secrets!
Debra Robinson is a true cash flow expert. For more than 10 years, her company Centennial Revenue Management has been helping dental practices and their owners achieve financial health by building a discipline of forward-looking financials and ongoing cash flow management. She’s distilled her years of experience and expertise into an easy to use Total Cash Clarity system with the mission to help businesses and their owners achieve total financial success.
How do you leverage your practice safely to generate substantial income? Gary Wilson is with us today and has plenty of information to offer to our listeners.
Gary Wilson is an expert in the world of real estate investing. He isn’t about teaching risky real estate loopholes and tricks. And he isn’t about selling a dream that is mostly fluff. Gary is dedicated to serving dentists and other medical professionals who want to pull money out of their practices and paychecks and invest it in a way that brings them true wealth. He has been featured in over 100 media outlets including CBS, FOX News, NBC, ABC, and Business Week.
Gary is also the host of the Real Estate Investing for Professional Men and Women Podcast.
Today’s episode comes directly from Chuck’s closing keynote presentation at the 2019 Midwest Dental Assembly about Creating Lasting Change. Things change all the time, but how do we make it last?
Episodes featuring Chuck by himself (with no guest interviewed) will include the title along with, in the bottom of the episode image, the book that the content relates to:
MMIKYB (Making Money Is Killing Your Business)
WEAAABI (Why Employees Are ALWAYS A Bad Idea)