Whether dentistry or sports, large groups or individuals, your team drives your personal, professional, and financial success. Your office team helps you day-to-day, but what about your team outside of your office? The following professionals are vitally important to your success. All recommendations are based on my personal experience; I do not get paid for any of my recommendations.
1) Bookkeeping. Bookkeeping means organizing all of your practice’s income and expenses for your taxes and to periodically review your practice’s financial status. I recommend QuickBooks Online (“QBO”) because it provides real time data by syncing with your bank account and credit cards. You can allow your accountant access to your QBO account to answer any questions and help with your tax preparation. Finally, take a continuing education course from Susan Gunn (https://www.susangunnsolutions.com/). Susan is a wealth of information!
2) Accounting. A good accountant reviews the accuracy of your bookkeeping, answers your questions, and assists you in your tax preparation. Accountants should be accessible and have attention to detail. I recommend Heidi Maret (email@example.com) because she is all of the above.
3) Banking. Whether you’re considering buying a practice or an expensive piece of equipment, you need help with your credit card processing terminal, or you just need a business banking account, your banker can help. I recommend Matt Caldwell (firstname.lastname@example.org) with PlainsCapital Bank (www.plainscapital.com). Neither Matt nor PlainsCapital Bank receives kick-backs from their referral sources. But be aware that many large banks have undisclosed referral fees from “their network” of accountants, attorneys, bankers, and real estate agents that they will refer you to.
4) Attorney. Good attorneys are extremely detail oriented, responsive, and caring. Your attorney should be able to assist you in buying or selling your practice, real estate transactions, and internal documents such as HIPAA forms, release forms, and other documents. If you move your practice, your attorney can advise you on your new lease, and review your current lease before you leave. Please give me a call, and I’d be glad to assist you.
In the same way that you went to four years, or more, of graduate school to become a dentist, similarly your outside team members have endured years of school and continuing education to assist you in their respective fields.
As we start 2017, consider your team and who you need to advance your success.