Podcast Episode #546: Profit First: How Dentists Can Build Wealth, Not Just Production – Barb Stackhouse
Episode #546: Dentist Freedom Blueprint Podcast
Profit First: How Dentists Can Build Wealth, Not Just Production – Barb Stackhouse
Many dentists are great producers—but still struggle to understand why their bank accounts don’t reflect that success. This week, David welcomes back Barb Stackhouse, a former dental hygienist turned Profit First coach, who helps practice owners finally bridge the gap between production and real profit. In this episode, Barb reveals how one report, 10 minutes a week, and a mindset shift can give dentists total financial control—without needing to become accountants.
Barb shares why most CPAs only tell part of the story, and how a simple, disciplined system can allow practice owners to finally make confident decisions, reduce financial stress, and grow sustainably. You’ll hear how Profit First unlocks team-wide ownership, enables smarter investments in growth and equipment, and fosters a shared vision with your spouse or partner—ultimately leading to a life designed with purpose.
Minute Markers:
00:00 – Introduction to the conversation with Barb Stackhouse
01:37 – Barb’s journey from dental hygiene to financial coaching:
07:19 – Discovering Profit First and creating a unique niche for dentists
09:26 – Why dentists must first organize finances before scaling
13:44 – A new kind of hygiene profitability report for team clarity
15:49 – The power of financial transparency and ownership
20:00 – How Profit First flips the script on traditional practice finance
22:02 – Using separate accounts for clarity, savings, and intentional growth
25:12 – Smart investments in equipment, CE, and staff expansion
26:54 – Avoiding common associate hiring mistakes
28:52 – Tailoring Profit First to the owner’s lifestyle goals
30:12 – Hands-on vs. automated discipline with money allocations
33:29 – Why aligned vision with your spouse is essential for financial peace
35:24 – Barb’s own story: from rural roots to living life by design
38:29 – Closing reflections: presence, pressure, and making the shift to freedom
Featured on the Show:
Barbara Stackhouse: LinkedIn
ProfitFirstDentist.com
Profit First for Dentists Book
Profit First by Mike Michalowicz
P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :
In this episode, we finish up the second part of my interview with Rob Swanson and his eight rules of investing. (If you haven’t listened to part 1, be sure to go back and give that a listen before jumping into this one.) Today, we pick up where we left off, covering rules four through eight and talking about everything from decision-making to cash flow and risk reduction.
Listen in as Rob shares his incredible insight and experience in real estate and investing to give us a few rules that help make our decisions and investments more solid. You will hear about the importance of looking at margins before buying and what boxes need to be checked when it comes to predicting a solid income stream. Rob also discusses how to define and mitigate the different risks involved so that you can come out on top.
Alastair MacDonald is a private advisor to established entrepreneurs, investors, and business owners, as well as a TEDx speaker who lectures on economic, social, and financial forecasts. Join me today to hear part two of our conversation at the Freedom Founders Mastermind, where we dive into the concept of certainty, how to hedge against a volatile economy, and why the abdication model is no longer one that works.
Listen in to learn the reasons why Alastair is not worried about consumer price inflation (and what he’s really worried about instead) and why the 401(k) is not always the investment that it is made out to be. You’ll learn why he is most concerned about the issue of division and polarity in the Western world, why your business is your best asset in a volatile economy, and how you can maintain its viability to weather the most intense economic storm.
1. Get Your Free Retirement Scorecard:
Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Go to www.FreedomFounders.com/Scorecard to take the 3 minute assessment and get your scorecard.
2. Attend A Workshop:
If you’re committed to Freedom, but still building a practice, paying down school debt, or growing investment capital, our hands-on Freedom Blueprint Workshops are your entrance ramp onto the fast track! Visit www.freedomfounders.com/workshop to claim your seat!
3. Apply To Visit The Mastermind:
If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit www.freedomfounders.com/step-1 to apply for a seat.
4. Want to Work Directly with Me?
If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call (972) 203-6960 Ext 144 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access program – we’ll set up a time with you to talk, find out about your goals, and see if there is a fit.