The Most Important Key to Growing a Profitable Business

  “Pay them well and keep them forever…” was the mantra an advisor kept coming back to when Monica and I would ask questions about staff development, turnover, and longevity. How do we find good people? What makes them stay? How can we find out if an employee may be bad, or worse – a cancer – to the team?? Although we didn’t realize it at the time, he was giving us the single most important key to growing a profitable business.   You Want a Successful Business? Pay Them Well and Keep Them Forever   I narrowly thought he was only referring to the employee’s wage, but over time I started to see how this mantra and attitude permeates into much more than what wage an employee earns.     We’ve been in the process of hiring our newest team member for the past couple of months and I’m […]

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Well… We bought a dental practice!!! (“The Project”)

You may be thinking to yourself, “Wait. He’s not a dentist…?”   Correct you are. My wife, on the other hand – 100% Doctor of Dental Surgery (DDS).   I’m writing this article in June of 2017, and as we near our closing date (June 30, 2017) on “the practice” (hereinafter referred to as Monfredi Family Dental – I’ve read so many documents written by lawyers lately…), I cannot wait to share much of what we’ve been through in the past 7-ish months (we started the process for buying this practice in December 2016).   I’ve heard some people that I have great respect for say recently, “…Getting an MBA can be a huge waste of time and money. You should just start a business. At least that way you have a chance to make your money back…”   Well… We indirectly took them up on that offer.   And, although […]

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