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

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Delegation, Abdication, and Control
         As a business owner, you’re familiar with the concept of delegation. You can’t be good at everything, so you hire people to help you do what you don’t like to do, or those things that aren’t the best use of your time. There is a fine line to be tread though. There are two extremes to...  Read More
Are You a Dentist or an Entrepeneur
         You went to dental school to be a dentist, but they don’t teach you much about practice management and business ownership. At the same time, a lot of dentists end up becoming entrepreneurs and setting up their own practices. Being a business owner takes up a lot of time and energy, and the...  Read More
How to Calculate ROI
         As business owners, we talk a lot about ROI. As a dentist, ROI may seem straight forward: will this piece of equipment, employee, or software pay for itself in the long run? However, only focusing on the monetary aspect of ROI is a mistake. There’s a lot of other things to take into...  Read More
Percentages: The Great Equalizer
         Being bookkeepers, we deal with percentages a lot. Our allocations for profit, tax, opex, and others are all done based on percentages. Although it seems mundane, this is a very important distinction. It prevents us from allocating based on feelings or instinct.           In the Profit...  Read More
Understanding the Profit and Loss Statement
Do you understand your Profit and Loss statement? Well, even if you’re not trained, you can still look at the bottom “net income” line and get an idea of your profit right? Well, probably not. Does that number take into account owner’s draw and loans? Sometimes it does, sometimes it doesn’t. Here’s...  Read More
Efficiency of a Practice
         How’s your office organized? How about the front desk? The operatories? Do you know where everything is? Do your employees?         A lot of time can be wasted searching for equipment and tools, especially if you’re “borrowing” them from other operatories. This shouldn’t be happening, but...  Read More
Auto-Payments: The Silent Killer
Auto-Payments are really convenient; you sign up for something, then forget about it. Unless of course you’re the bookkeeper and you’re wondering where all the money is going. Auto-payments can be sucking your business dry without you ever realizing it.           One of the first things we do when...  Read More
Tiny Expenses; Big Problem
         Tiny expenses add up. You probably don’t need to hear that. But have you taken time to ask yourself if you have any tiny expenses that are sucking up all your cash? How about those nice pens you bought? Or those stickers? What about all the gloves and masks?          Your practice...  Read More
A Dentist's Worst Nightmare: The Sunk Cost Fallacy
         The sunk cost fallacy is when you dump a lot of money into a failing program in hopes that it’ll get better. The fallacy is thinking that just because your investing in it, it’ll pay off eventually. If this sounds familiar, you might be in financial hot water.          When it comes to...  Read More
Accountants vs. Bookkeepers
Accountants and bookkeepers are very different from each other with different focuses. The best way to think about it is an accountant focuses on taxes while a bookkeeper focuses on expenses. Accountants deal with your taxes. They’re the ones that deal with the IRS, end of year stuff, and Uncle...  Read More
Time is Money
Way back in 1748 in his essay “Advice to a Young Tradesman,” Benjamin Franklin made the statement Time is Money.  This is still as true today as it was nearly 300 years ago.   As a dentist you are constantly aware of the fact that time is money, the efficiency of your schedule, the hygiene...  Read More
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