In the fourth and final episode of our business lessons series, Amanda and I take an honest look at the financial side of owning and growing a plastic surgery practice.
Having money in the bank does not necessarily mean your business is profitable. We discuss how we use profit-and-loss statements, detailed spreadsheets, overhead calculations, and procedure costs to understand what the practice is actually earning—and why simply copying a competitor’s pricing can quickly put you in a position where you are losing money on a treatment.
We also explain why staying small has been one of the smartest decisions we have made, how unnecessary staff and oversized office spaces can quietly drain a business, and why controlling expenses is just as important as generating revenue.
Finally, we share our biggest financial regrets, including expensive devices that failed to deliver, financing contracts we should have read more carefully, and the hidden costs of running a business that many new owners never anticipate. From employee benefits and payroll taxes to insurance, marketing, and vendor expenses, this conversation covers the financial lessons we had to learn through experience.
Whether you are opening a medical practice, growing a med spa, or running another type of small business, this episode offers practical advice for protecting your cash flow, making smarter investments, and building a profitable business without getting distracted by what everyone else is doing.
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