Profit First: How Dentists Can Build Wealth, Not Just Production – Barb Stackhouse: Ep #546

Many dentists are great producers—but still struggle to understand why their bank accounts don’t reflect that success. This week, David welcomes back Barb Stackhouse, a former dental hygienist turned Profit First coach, who helps practice owners finally bridge the gap between production and real profit. In this episode, Barb reveals how one report, 10 minutes a week, and a mindset shift can give dentists total financial control—without needing to become accountants.

Barb shares why most CPAs only tell part of the story, and how a simple, disciplined system can allow practice owners to finally make confident decisions, reduce financial stress, and grow sustainably. You’ll hear how Profit First unlocks team-wide ownership, enables smarter investments in growth and equipment, and fosters a shared vision with your spouse or partner—ultimately leading to a life designed with purpose.

Minute Markers:

00:00 – Introduction to the conversation with Barb Stackhouse
01:37 – Barb’s journey from dental hygiene to financial coaching:
07:19 – Discovering Profit First and creating a unique niche for dentists
09:26 – Why dentists must first organize finances before scaling
13:44 – A new kind of hygiene profitability report for team clarity
15:49 – The power of financial transparency and ownership
20:00 – How Profit First flips the script on traditional practice finance
22:02 – Using separate accounts for clarity, savings, and intentional growth
25:12 – Smart investments in equipment, CE, and staff expansion
26:54 – Avoiding common associate hiring mistakes
28:52 – Tailoring Profit First to the owner’s lifestyle goals
30:12 – Hands-on vs. automated discipline with money allocations
33:29 – Why aligned vision with your spouse is essential for financial peace
35:24 – Barb’s own story: from rural roots to living life by design
38:29 – Closing reflections: presence, pressure, and making the shift to freedom

If you like this episode, here are more episodes we think you’ll enjoy:

Ep #545 – Mike Michalowicz – Profitable Systems, Money Habits & Entrepreneurial Freedom
Ep #352 – Barbara Stackhouse – Eliminate Stress and Increase Time with a Profit First System for Freedom

Links Featured on the Show:

#barbarastackhouse #profitfirstfordentist #financialfreedomfordoctors #entrepreneurdentist #smartpracticedecisions

Watch full length Interviews on video!

Watch full length interviews on David’s YouTube channel by going to www.DentistFreedomBlueprint.com/YouTube. Don’t forget to subscribe to David’s YouTube Channel for more content on maximizing your business, wealth, and creating a financial blueprint to reach your Freedom faster!

Join the tribe of dentists ditching Wall Street. Get more insights, resources and inspiration for creating asset based income and Freedom. Follow us on Facebook here.

P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think):

1. Schedule a Call with My Team:

If you’d like to replace your active practice income with passive investment income within 2-3 years, and you have at least 1M in available capital (can include residential/practice equity or practice sale), then schedule a call with my team. If it looks like there is a mutual fit, you’ll have the opportunity to attend one of our upcoming member events as a guest.

2. Get Your Dentist Retirement Survival Guide:

The winds of economic change are here, and now is the time to move to higher ground. This guide gives you the steps to protect your retirement, your family, and your peace of mind. Get the 25-point checklist here.

3. Get Your Free Retirement Scorecard:

Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Click here to take the 3 minute assessment and get your scorecard.

Want to know more about David and schedule him as a speaker or podcast guest? Go to doctorphelps.com to book David now.

Power Concepts:

“Numbers are numbers, but unless you turn those numbers into information, you can’t make decisions with them.” – Barbara Stackhouse

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“Profit First isn’t just a financial framework—it’s a mindset.” – Barbara Stackhouse