I’m about to give you the most important lesson you’ve ever heard when it comes to your financial future and dental practice profits. This isn’t just about making it through tough times—this is about thriving no matter what. Recession? Doesn’t matter. Inflation? Not a problem. When you understand what I’m about to share, you’ll look at profit, income, and your practice with a whole new perspective.
But first, let’s get something clear. Profit is NOT at the bottom of your P&L. It’s not something you wait to discover at the end of the month, hoping there’s something left after paying everyone else. That’s what most doctors do, and it’s why most doctors feel like they’re chasing their own tail when it comes to their money.
When it comes to your financial future, dental practice profits are at the top.
You must pull it out of your business before it disappears. This is where it all starts.
Rule #1: Pay Yourself First—Skim Off the Top or Get Eaten Alive
Here’s the mistake that will kill your profit faster than anything else: waiting until the end of the month to see what’s left. The bills get paid, the team gets paid, the suppliers get paid—and guess who’s left holding an empty bag? You.
That’s what I call Pac-Man Profit. Expenses will eat everything in their path if you let them. And if you’re sitting around hoping there’s something left for you after all that, guess what? There won’t be.
So here’s the rule: Skim off the top. Pay yourself first, before anything else. You’re the one doing the work. You’re the one building the business. You deserve the reward. And if you don’t pull the money out, the business will swallow it whole.
What does this look like in practice? It’s simple. Set a daily profit number. Not just a vague idea of what you want at the end of the month — an actual number from your daily dental practice profits you can hit every single day. Then, set your weekly and monthly targets. Get specific. Treat it like oxygen for your business. This is cash flow—the lifeblood of your practice. Without it, you’re dead in the water.
But there’s more: move the money out of the business as soon as you can. Get it into your personal accounts, your investments—anywhere but sitting there waiting to be eaten by the next big expense. You want the pressure of needing to keep the cash flow alive. That’s what keeps you sharp, keeps you focused on growth.
Rule #2: Protect What Matters—Cover Your Assets, Cover Your People
Your practice’s greatest assets aren’t the chairs, equipment, or even the building. Your people—your patients and your team—are the lifeblood of your business. If you’re not protecting them, you’re leaving money on the table.
Most dentists are focused on cutting expenses, as if trimming the fat will lead to more profit. Let me tell you right now: that’s the wrong focus. When you focus on expenses, you shrink. You get smaller. You start to see everything through the lens of scarcity.
And scarcity kills growth.
Instead, focus on prosperity. Build your practice for profit. Not to break even, not to “cover the bills”—but to create wealth. When you focus on creating opportunity—for your patients, for your team, for your practice—you’ll see growth. That’s the secret to building recession-proof income. Not by cutting corners, but by focusing on expanding possibilities.
When you see every patient interaction, every treatment plan, every day as a new opportunity to create more from what you already have, that’s when you unlock the true power of your practice.
Rule #3: More From Less—Stop Waiting for the Perfect Day
This is a big one. Too many doctors panic when their schedule falls apart. Half the day’s appointments cancel, and all they see is what’s missing. I’m telling you right now, stop focusing on what you don’t have.
Instead, maximize what’s in front of you. This is about getting more from less. It’s not about jamming your day full of busywork. It’s about making every minute count. If you’ve got half a day’s schedule left, then that means you double down on every single patient in that chair. You have deeper conversations. You provide more value. You use every tool at your disposal—technology, follow-up, long-term treatment planning—to make sure that the opportunity in front of you is maximized.
You want to know the secret to getting ahead while others are falling behind? Be more resourceful. That’s it. Most practices settle for mediocrity when things don’t go according to plan. They shrug their shoulders and move on. Not you. You squeeze every last drop of value from your time and effort.
This isn’t about just doing more. It’s about doing better with what you’ve already got.
Rule #4: Overhead is Not the Enemy—Waste Is
I know what you’re thinking. Overhead is the enemy, right? That’s what they’ve told you. But I’m here to tell you that overhead is NOT the enemy. Waste is the enemy.
If you spend your time trying to cut your overhead to the bone, you’re missing the point. Overhead is an asset. It supports the structure of your practice. What you need to focus on is making your overhead work harder for you. Maximize what you’ve already got.
Where you need to cut is in waste—the waste of time, the waste of opportunities, the waste of unfulfilled treatment plans. Every patient who walks out the door without accepting treatment is a lost opportunity. Every hour that isn’t maximized is money slipping away.
Think of it like this: overhead is the fuel, but if you’re burning it inefficiently, you’re going nowhere fast. So, focus on maximizing the value of every dollar spent and eliminating waste where it truly matters.
Rule #5: Control the One Number That Defines Everything—Your Fee
Here’s the big one. The most important number in your practice, the one that determines your success more than anything else, is your fee. Not your overhead, not your production—your fee.
Why? Because you control it. You set it. It’s the number that defines the value of your services. And here’s where most doctors get it wrong: they let outside forces—insurance companies, the market—dictate their fees. That’s a recipe for disaster.
You set your value. You set your fee.
This is where your income is determined. Don’t let someone else decide what your work is worth. The moment you let external forces dictate your fees, you’ve lost control of your income—and your freedom.
This is about understanding the value you bring to the table and charging accordingly. Don’t sell yourself short. When you control your fee, you control your dental practice profits and destiny.
If you’d like to learn more about taking control of your dental practice profits and growth, please contact my office here.
Respectfully,
Scott J. Manning, MBA
