Having the confidence to make hiring decisions – because you know your numbers

Bringing on board a new member of staff. I used the monthly profit and loss statements to my advantage in bringing on a new receptionist. I was reluctant to do this at first because I always thought about whether we would be spending too much and be overstaffed. However I was able to see that we were consistently under the 17.5% benchmark for salary so I asked the accountant to work in a hypothetical new staff member and we were still just under. This gave me the reassurance and confidence to take on board a new member of staff, which has now proved to be quite productive as I notice more things getting done! 

So thanks for that as without the understanding of the accounts I wouldn’t have been brave enough to make that decision.

A 2019 client

Knowing your numbers (and knowing how you compare with industry benchmarks) gives you the confidence to make decisions.

The above quotation from a client is reproduced anonymously but with consent as an extract from a weekly progress report completed last Friday.

Understanding your practice finances is one of the core components of my coaching programmes with clients, whether they are attending my year-long workshop programme and/or working face to face.

You can also access The Complete Money Course via The Extreme Business Club for a one-time price of just £249.

The Benefits:

  • Understanding your profit & loss statement;
  • Identifying how to measure your Key Performance Indicators;
  • Benchmarks for performance (as in the above quotation);
  • How to create budget and cash flow forecasts;
  • Measuring associate productivity and profitability;
  • Understanding the significance of OCPSPD (operating cost per surgery per day);
  • Accurate pricing;
  • Tips and tricks to ethically maximise profit.

The Features:

  • 2hrs 49 minutes of me on video (in 10 modules), explaining every step of the process;
  • 30 learning resources, including slides, infographics and Excel templates;
  • automated verifiable CPD.

The Money Course will be of use to owners and managers who want a better understanding of the numbers – as a training and/or refresher course for anyone who wants to get confident about practice finances.

Everything you need to know – in one place – to watch in your own time – to delegate to managers – to share as many times as you like – for one investment of £249 (£199 for Club members).

The Extreme Business Club.


Published by

Chris Barrow

Chris Barrow has been active as a consultant, trainer and coach to the UK dental profession for over 20 years. As a writer, his blog enjoys a strong following and he is a regular contributor to the dental press. Naturally direct, assertive and determined, he has the ability to reach conclusions quickly, as well as the sharp reflexes and lightness of touch to innovate, change tack and push boundaries. In 2014 he appeared as a “castaway” in the first season of the popular reality TV show “The Island with Bear Grylls”. His main professional focus is as Coach Barrow, providing coaching and mentorship to independent dentistry.