A healthy practice requires a productive and happy team. In the quest to improve profitability, it is important to first accept that nobody should apologize for establishing profitability as a core objective of the practice. Profitability allows a practice to pay its employees, to purchase good equipment, and to provide exemplary services to its customers. It is not unusual for practice owners to admit that they have numerous employees who, in private, complain to clients about the fees the practice charges for services and other components of service related to money. In many instances the employees also complain that the owner apologizes to clients about money-related issues, and that they refuse to raise fees appropriately or to charge for services at a level that would make the practice healthy.
Profit is not the enemy. Without profit, it is impossible to build a productive and happy team. Set as an objective of your practice to be very profitable. Use those profits to pay your employees well, to provide high quality equipment for high quality services, and to create a practice environment that your team is proud of and wants to be a part of. Profit is crucial to building a happy and productive team.
