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Your Time, Your Money
Your Time, Your Money
Tips and tricks to save you time and money. Made by BLBK Solutions: blbksolutions.com. BLBK Solutions LLC, is a profit advising and bookkeeping firm that focuses on the dental industry.
Blog By:
Connie Jacox
Connie Jacox

Displaying 1-25 of 36
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What Patients Value
Posted 9/21/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 101
What Patients Value
          Patients come to you because you match what they value. But what is it that they value? A lot of people don’t really think about their dental hygiene all that much. As a dentist, dental hygiene is obviously important to you. It makes sense that the value of a dental practice should be...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
What a Bookkeeper Actually Does
Posted 9/14/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 62
What a Bookkeeper Actually Does
          Let’s get this out of the way: a bookkeeper doesn’t magically make you profitable. That may sound obvious and a little condescending, but we have had clients treat us like that before. You probably understand that already, but do you know what your bookkeeper is doing for you?           A...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
You Don't Know, and That's OK
Posted 9/7/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 73
You Don't Know, and That's OK
          Many business owners are excited to start a business around something they love, but don’t actually know how to run a business. You are trained as a dentist, you are excited to do dentistry. You wanted to own your own practice so you could control your schedule. Then you got hit with the...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Don't Fear the Reaper (the IRS)
Posted 8/24/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 50
Don't Fear the Reaper (the IRS)
          Nobody likes the IRS, but they are an ever-present reality coming to take your money. The job of your accountant is to make sure that you and the IRS are doing what you’re supposed to. Although we aren’t accountants, as in we don’t deal with the IRS directly, here are some tips to make...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Supplies Aren’t Petty Costs
Posted 8/17/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 76
Supplies Aren’t Petty Costs
          You’re about to treat a patient. You reach into the box of latex gloves and realize that it’s empty. No big deal, you say you’ll be right back, go into the supply closet and pull the last box of gloves off the shelf. You make a note to order more gloves. You treat the patient, then go...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Are You a Slave to Your Business
Posted 8/10/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 64
Are You a Slave to Your Business
          One of the concepts the people at Profit First talk about is that the business should serve the owner, not the other way around. Many small business owners feel that they are slaves to their business which defeats the entire purpose of being self-employed. One of the ways our business can...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Customer Service: The Money Maker
Posted 8/3/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 37
Customer Service: The Money Maker
          Customer service has a better return on investment than any equipment you can buy or any skill you accumulate. If you have good customer service, you will have more customers, which means more profit.           As Howard Farran often says, dentists sell the invisible. Another way to put...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Being a slave to your business
Posted 7/27/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 41
Being a slave to your business
          One of the concepts the people at Profit First talk about is that the business should serve the owner, not the other way around. Many small business owners feel that they are slaves to their business which defeats the entire purpose of being self-employed. One of the ways our business can...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
The Art of the Waiting Area
Posted 7/20/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 72
The Art of the Waiting Area
          So many dentists name their practice as “______ Family Dentistry.” The key word in there is family. Most take this to mean that it’s a welcome place for their family. If your practice welcomes whole families into your dental practice, does your waiting area reflect that?           Waiting...  Read More
Categories: Financial Planning and Investments, Marketing, Practice Management, HR and Accounting
Where is the Student Debt?
Posted 7/13/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 59
Where is the Student Debt?
         Student debt is an ever present reality, especially for medical/dental students. Since debt coming from medical/dental school is so large, it’s easy to just accept it as a reality forever and forget that you’re even paying for it. If that happens, debt will suck you and your practice dry....  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
The Cost of Comfort
Posted 7/6/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 95
The Cost of Comfort
          In order to mitigate the fear of being at the dentist’s office, many of you go out of your way to make the patient as comfortable as possible. Sometimes there’s video games in the waiting room, sometimes there’s TV’s on the ceiling above the chairs. While it’s certainly a good practice to...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Where Are the Patients
Posted 6/29/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 52
Where Are the Patients
         Marketing can either have the best return on investment of any expense, or the worst, and sometimes you don’t know which it is. It can really feel like you’re gambling for patients. Here’s a few tips on how to keep track of your marketing budget and make marketing less of a gamble.        ...  Read More
Categories: Financial Planning and Investments, Marketing, Practice Management, HR and Accounting
What is a Business Savings Account
Posted 6/22/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 92
What is a Business Savings Account
          Did you know that your bank probably offers savings accounts for businesses? Maybe not, but to be honest, the bankers themselves probably don’t know it’s offered. It’s rare for a business to open a checking and a savings account, let alone the multiple accounts the Profit First system...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Don't Be Cheap with Other People's Money
Posted 6/15/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 35
Don't Be Cheap with Other People's Money
         Dentists, you are medical professionals. You care for the patient in more ways than one. You want your patients to be healthy first and foremost, but you know that certain procedures are expensive, and you hesitate to recommend procedures that will put a dent in their wallets. You need to...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Charitable Dentistry Doesn't Pay Bills
Posted 6/8/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 64
Charitable Dentistry Doesn't Pay Bills
          Many dentists (and health care professionals) went into their field because they want to help people. It’s hard to ask for payment when you just want to help people. It’s especially hard when it’s a patient that not only has a health crisis but a financial one as well. The absolute worst...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Bookkeeping for Multiple Practices
Posted 6/1/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 191
Bookkeeping for Multiple Practices
          It’s fairly common for a dentist in private practice to have at more than one location, often one big location and one small one. Although this is perfectly normal, handling the financials can be confusing. Sometimes the two practices are separate entities with separate bank accounts,...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Dental Heroes: Salomon
Posted 5/25/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 71
         In honor of Memorial Day coming up, lets talk about a dentist who received the Medal of Honor.          Benjamin L. Salomon was a Jewish-American dentist in the Pacific theater of World War II. Like many dentists, he graduated dental school and opened up his own practice in 1937. He was...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
What Your Degree Means
Posted 5/18/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 30
         Dentistry is about the patient. You have to care for the patient, and they have to be able to understand what dental care they’re receiving. When looking for a dentist, people look for testimonials, reviews, and bios of the dentist. Your credentials are not on that list.          Your...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
What You Don't Know Can Hurt You
Posted 5/11/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 59
What You Don't Know Can Hurt You
         “Ignorance is bliss.” “What you don’t know can’t hurt you.” In general, these phrases are just really bad advice. In business, ignorance can bankrupt you.          In business, you have to know your numbers. Then again, your “numbers” could be literally anything, which is way too much to...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
What Are Your Numbers?
Posted 5/4/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 55
What Are Your Numbers?
         A lot of dentists, and business owners in general, talk about their “numbers” but what are the numbers?  Often, they are referring to things such as production, net income, or even overhead.  But knowing your numbers is crucial to running a profitable business.  To know your numbers, your...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Right Person; Right Seat
Posted 4/27/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 56
Right Person; Right Seat
         Different people work better in different careers. Not everyone can be a dentist or a bookkeeper. The same idea applies to all positions, including secretaries and janitors. Do you have the right people for these jobs?           Entry level and low experience positions can’t just be filled...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Embezzlement: What Does it Look Like
Posted 4/20/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 2  |   Views: 65
         It’s natural for a business owner to be concerned about embezzlement, especially if he’s not familiar with bookkeeping. So, if you are being embezzled, what might it actually look like?          Let’s be honest, it’s not likely that someone is going to embezzle an obvious 100 grand from...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Don't Wait Until You're Broke
Posted 4/13/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 59
Don't Wait Until You're Broke
         Financials are something we should always be paying attention to. We shouldn’t be constantly stressed about financials and stare at our bank accounts all day, but we should always have and idea of where our cash is, and where it needs to go. Don’t wait until your broke to start paying...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
The Weekend Practice
Posted 4/6/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 126
The Weekend Practice
         Dentistry is about the patient, right? You’re there to make sure your patients get the best possible care, and you try to run your business with them in mind. If this is true, you should also have their schedules in mind.          Most people work during the hours dental practices are...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
Profit First in the Dental Industry
Posted 3/30/2021 by Connie Jacox in Your Time, Your Money   |  Comments: 0  |   Views: 202
Profit First in the Dental Industry
          Profit First is a cash management system developed by Mike Michalowicz. The goal is right in the name; we take profit BEFORE paying for expenses. Businesses are “always profitable” under this system not necessarily because they make more money, but because they prioritize differently.    ...  Read More
Categories: Financial Planning and Investments, Practice Management, HR and Accounting
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