Effective Goal-Setting: Making Dreams into Reality

Dental CPA in TowsonNo matter how impressive your vision for your business may be, dreams require hard work, strategic planning, and a willingness to adapt to make them real. Highly successful business owners learn to set goals realistically and effectively. Master the skills of effective goal-setting, strategic planning, and assessment to find greater success in your business.

Set Incremental Goals

Start small when setting goals. Establish daily and weekly goals. It can be easy to let ambition take over while you dream of long-term goals. However, you cannot reach your long-term goals without smaller victories along the way. Setting smaller, incremental goals provides the opportunity for you to be in constant control of your business. You will know if you miss a weekly goal, and you can then adjust your strategy to make sure it never happens again. If you are only setting quarterly or yearly goals it can come as a surprise when you miss them, or your team might be left struggling to meet them at the last minute.

Make Goals Visible

You and your team need a visual reminder of what your goals are and when you plan to achieve them. Put them up on a bulletin board in the office, include them on your calendar. Write your goals in a place you look daily as a constant reminder. We all have those back-of-the-mind thoughts or ideas that might be good if implemented, but they are frequently forgotten. Make your goals visible to you and your entire team.

Goals Need to be Measured

How will you know if you achieved your goal if you cannot measure it? Goals should have a measurable standard. Perhaps your goal is to see 10 new clients by the end of each month or to increase the number of referrals by 50% before the end of the quarter. Pick specific numbers and concepts that can be defined in a concrete way. Abstract goals are harder to reach because they are too difficult to define. When goals are measurable, you will know exactly what you need to achieve your desired result.

Rethink the way you are setting your goals for your business. Your ambitious plans will be successful only if you have a road map to reach them. This is where effective goal setting comes in. Get into the habit of writing down your goals and measuring them. Effective goal-setting strategies take careful planning. Master these skills and you will be on your way to the business success you have dreamed of achieving.

For more tips on managing your business, please contact us.


MONDAY -THURSDAY 8:30 – 4:30  Carroll County, Maryland

Wonderful opportunity to provide excellent care in a beautiful, fast-growing, and thriving private dental practice in affluent Howard County, Maryland.  We average 75+ new patients each month!  No obligation to purchase but owner doctor is nearing retirement and beginning to look for his replacement.

  • Modern a-dec equipment in all six operatories
  • Digital practice management, scheduling, X-rays and CEREC cad/cam
  • Virtually unlimited income potential
  • Compensation based on production, not collection
  • Daily guaranteed minimum throughout, not just to start
  • Paid liability insurance and continuing education
  • Employer contribution to health insurance
  • Profit sharing 401k plan
  • Additional days available if desired
  • Will consider new graduates and those with experience
  • Owner takes pleasure in mentoring new graduates
  • Wonderful staff committed to your success
  • Very visible location with plenty of parking
  • Position available immediately

If interested, please email Allen Schiff, CPA, CFE at ASchiff@Schiffcpa.com  your Resume / CV

 Dental Accountant | Four Financial Mistakes That New Dentists Make 

Dental AccountantGraduating dental school after four years of hard work and beginning your practice brings about a myriad of changes, which include embarking on a rewarding career. Unfortunately, many new dentists do not pay close enough attention to financial considerations. The team at Schiff & Associate can work with you to avoid the common pitfalls that new dentists often encounter. Take care to avoid these five common mistakes. 

Poor Debt Management In 2018, the median debt for dental school graduates was $280,410. Compounding interest on school loans can add up quickly. While it’s tempting to buy cars and clothes that you previously weren’t able to afford, managing student loan debt during the first years of your practice can make the difference when the time comes to get a mortgage or expand your practice. Talking with our team of professionals can help you strike a balance between paying off your debt and taking advantage of the student loan income tax benefits. 

Few or No Written Goals Having a financial plan for your life will help you set a course, even when the unexpected happens. Saving for retirement needs to happen early on. The average age of retirement for dentists is now 69, according to the American Dental Association. Not considering retirement can have you living beyond your means early on in your career. Because of schooling, many dentists are age 30 or close to it before they start earning a significant salary. Having a sound plan as soon or soon after you start working will set you up for the future. 

Ignoring Changing Overhead Costs Newer dentists are often anxious to further their practices, but what comes along with that is an increased cost in overhead when more supplies, employees and the like are needed. Review your practices every few years to determine where you can cut costs or streamline processes to reduced overhead. 

Insufficient Billing and Collections Procedures Every practice has bills that are eventually written off because of the failure of insurance companies and patients to pay. Working with your accountant to develop a plan can help minimize those write-offs and maximize profits. 

If you’re a newly practicing dentist and want to get your professional career off on the right foot, contact our office to schedule a meeting. Developing a financial plan at the outset is one of the keys to creating a sound dental practice. 

Schiff & Associates, CPA
Email: ASchiff@Schiffcpa.com
Phone: (410) 321-7707
Url: https://schiffcpa.com
100 West Road, Suite 410,
Towson, MD 21204

Dental CPA Allen Schiff Gives Back to Maryland Community

Towson, MD: Dental CPA Allen M. Schiff, CPA, CFE has continued to make philanthropy a priority in his community after providing financial support to the Maryland State Dental Association Foundation (MSDAF). The donations made by Schiff & Associates to the MSDAF in 2018 helped bring dental care to over 1,300 Marylanders in need.

The MSDAF has dedicated itself to improving the oral health of Marylanders through education and support of programs that improve access to dental care. Through donor participation and volunteer support, the MSDAF helps thousands of Marylanders overcome barriers of care, connecting them with the treatment they need but may be unable to afford.

By supporting the MSDAF, Allen hopes to give back to his Maryland community and improve the education and level of care for those around him. As a Dental CPA, Allen has committed himself to helping empower not just dentists, but the communities they serve as well.

Allen Schiff is the managing member of Schiff & Associates, LLC and also serves as President of the Academy of Dental CPAs (ADCPA). He has over 35 years of experience in dental practice management and has received the SMART CEO award six out of the last seven years as one of the top CPAs in Maryland.

In addition, Allen is an active speaker on a national level, helping dental practices achieve top success. He has presented to the American Dental Association (ADA), the Academy of General Dentistry (AGD), the American Academy of Pediatric Dentists (AAPD), local Mid-Atlantic societies, as well as various dental study clubs. Allen has also taught dental practice management at a local dental school for over 30 years.

For more information on Allen Schiff or to request a consultation, please call Schiff & Associates, LLC at (410) 321-7707 or visit https://schiffcpa.com/.

Schiff & Associates, LLC
100 West Road, Suite 410
Towson, MD 21204
(410) 321-7707

Towson Dental CPA | 3 Tips to Empower Your Dental Team and Your Practice

As the front line of your practice, your dental team is crucial to your business goals. Their performance, attitude, and communication can determine if a patient has a fantastic visit or a frustrating one. Here are four tips that can help you empower your team, improving patient retention and overall happiness in the workplace.

A Healthy, Positive Culture

Your first priority toward a loyal, productive team should be establishing a welcoming and comfortable office culture. Being open to feedback and transparent in your motives will make the atmosphere of your practice something that your team looks forward to each day. Encourage your team with attainable goals and ensure that all criticism is constructive, yet humble.

Communication Goes Two Ways

When it comes to proper communication, don’t forget that listening is just as important as speaking up. Your team should feel comfortable with voicing their concerns.

As the leader, there are times when it is important to gain the approval of your team. If issues arise in performance, between employees, or surrounding changes, don’t ignore them. Talk to your team and listen to their perspective. Be fair in your assessment and just in your decisions.

Bring Out the Best

A powerful team requires powerful recruiting. Finding talented team members depends on competitive salaries and the chance for growth. By rewarding your team for their best efforts, you can help them feel confident and loyal to your practice.

Even more important than recruiting, however, is retention. Train your team to strengthen their skills, and step in when they are feeling the strain. Make sure you cross-train where appropriate, to reduce the impact that vacations or turnover may have on your team’s wellbeing. If you ensure their work environment allows them to thrive, then they will.

Building your dream team can push your practice ahead while establishing a positive experience for patients, employees, and yourself. If you are in need of a healthy change for your practice, then don’t hesitate. Our team at Schiff & Associates can bring you the management consulting you need to empower your practice and your staff. Contact us today to schedule a consultation.

100 West Road, Suite 410
Towson, MD 21204
(410) 321-7707

JUST SOLD @ 100% Annual Collections!! Sell Your Maryland Dental Practice

Sell Your Maryland Dental Practice!!

Are you contemplating on whether or not now is the right time to sell your Maryland dental practice.  Our most recent Maryland General Dental practice closing sold for 100% of Annual Collections with multiple offers on the table! Schiff Dental Brokerage is setting records in our market area. Up until now sellers have only been getting these prices in Southern CA where the desire to live is so high because of the climate. Contact Eric Schiff Today if you are thinking about selling your Maryland dental practice. www.schiffdentalbrokerage.com