As a follow-up to episode 858 (Deciphering Your True Overhead), Tiff and Dana circle back to focus on managing your practice’s debt by knowing your PnL. They touch on how to interpret your numbers, considering whether the debt is worth it, healthy money ranges, and a ton more. Episode resources: Reach out to Tiff and Dana Listen to episode 858: Deciphering Your True Overhead Watch DAT Podcasts on YouTube Practice Momentum Group Consulting Subscribe to The Dental A-Team podcast Become Dental A-Team Platinum! Review the podcast Transcript: The Dental A Team (00:00.238) I've got Dana with me and today we are chatting a little bit more about money and I think this is this is a space where I've worked really hard over the last few years as a consultant to just get really good at because I feel like I knew money but not as well as I do today and I think it's a space that we all can always get better at and Dana I love collabing with you and learning. more from you as well because you have done a ton in the financial world yourself, family -wise, work -wise, all those pieces. So Dana, thanks for being here with me today and for always being my like, yep, I can podcast with you today. I, we say it every time we love podcasting together, but I truly love how flexible and easy you make it for me to get these in the schedule. So thank you. How are you today? I'm doing pretty good. It is sunshiny and hot here in Arizona. And I think we're so alike and are just like love of the sunshine. So it's a fantastic day today. I agree. I agree. I every day this week, this this week has been I keep saying it's like a Monday every day this week has been a Monday for me. Where I'm on my fifth Monday right now. So every day this week, I have made a point to make my little mushroom latte, scorching hot. take it outside and sit on my back porch in the sun next to the water and just sit there. I've sat there for as long as I could. Today I only got to 10 minutes because it was a little toasty. It was 6 .45 and it was so hot. I was like getting sweaty. I'm like it's 6 .45 a and I'm sweating outside. I must be in Phoenix. So it was toasty and then I looked at like the little thermometer. I came back inside, I looked at the little thermometer thing and it's like 82 degrees or something. I was like, that'll do it. Welcome to Phoenix. Yeah, we do. We thrive on being outdoors, being in the sun, whatever it looks like. I think I love and hate the question, mountains or beach. Yeah. I truly don't care. I truly don't care. You want to, yeah. I'm like, both. Just put me, put me in the sun. Give me the outside inside question. Yeah, exactly. I love that. I love that. I'm actually going to change your question to outdoors indoors because it's going to be outdoors no matter what that looks like. Yeah. The Dental A Team (02:21.134) I love that. I always say, I don't know, maybe Tahoe, because I get water and I get mountains. Yeah. I can paddleboard in the mountains, but I love my desert. And I think you do too. I think we love where we live. Yeah. Okay. So it's hot. It's my fifth Monday, but it's been a really good week though. It's been a really great week. I think the whole team's back. A lot of us were on the road or on vacation. Dana, you got to take vacation. I'm so happy for you. Feel so like re -energized this week. Plug to my teams to remember my doctors to remember that time off is essential. Just make sure that it works with the whole team. But definitely make sure you're doing that. So Dana, first week back, it's been crazy. You've had a million calls. I was looking at your schedule and I'm like, holy million calls this week. I thought it was just me, but it was all of us. And you decided to podcast with us today. So thank you. The Dental A Team listeners appreciate you being here. You get a ton of great feedback on all of your stuff. We've talked a little bit recently about P &Ls and budgeting. And we talked about what kind of percentages and what that might look like and how to create some budgets. But this time, I wanted to deep dive a little bit further. Last time we kind of skimmed it. We talked about what true overhead is. And remember, you guys, if you remember, if you haven't listened to it, you don't have to listen to it before this one, but you should listen to the other one as well. about true overhead and budgeting because I think they're going to go together really well. So remember that your true overhead is anything that if someone were to purchase your practice, this is the overhead that they would be purchasing with that practice, right? This is what they could expect to inherit. So it does not include your doctor pay and it does not include your debt services. So today I really wanted to talk about the idea of managing debt by knowing your P &L and looking at your P &L. That's something, Dana, I said I've worked really hard on my money mindset and our knowledge and my business ...
