New Year, New You? 3 New Year’s Resolutions for Practice
The start of a new year is always a good moment to step back and take an honest look at your practice. Not in a dramatic “everything must change” way—but in a practical, forward-looking way that puts you in a stronger position twelve months from now.
Whether you plan to own your practice for another decade or you’re quietly thinking about a transition at some point down the road, there are three New Year resolutions we consistently recommend to Dentists and Veterinarian practice owners.
They’re simple. They’re actionable. And they tend to pay off more than almost anything else you can do.
1. Clean Up Your Books
This one isn’t glamorous, but it’s foundational.
Clean financials are the difference between a practice that looks successful and one that can actually prove it. Too often, we see practices with strong operations and loyal patients undermined by messy, inconsistent, or overly aggressive bookkeeping.
This doesn’t mean stripping out every legitimate expense or suddenly “running everything through payroll.” It means:
Separating personal and business expenses clearly
Normalizing compensation in a way that reflects reality
Making sure income and expenses are consistently categorized
Understanding what your true earnings actually are
Clean books don’t just matter for a future sale. They matter for lending, associate recruitment, partner buy-ins, and your own peace of mind. If you don’t have confidence in your numbers, neither will anyone else.
2. Spruce Up the Practice
You don’t need a full renovation to make a meaningful impact.
First impressions matter—to patients, staff, and buyers alike. A practice that feels dated or neglected sends a message, even if the clinical care is excellent. The good news is that small, thoughtful improvements often go a long way.
This might include:
Updating paint, flooring, or lighting
Replacing worn furniture
Improving curb appeal and signage
Front of the house – Focus on the waiting area, Front Desk Check in/out, and places routinely seen/used by clients/patients.
Back of the house – De-Clutter workspaces, organize the lab/pharmacy, complete an equipment and technology assessment.
Think of this less as spending money and more as protecting value. A well-maintained practice signals pride of ownership, operational discipline, and sustainability—all things that translate directly into confidence and, ultimately, valuation.
3. Invest in a Valuation
This is the most overlooked—and arguably most important—resolution.
A valuation is not just for owners who are “ready to sell.” It’s a planning tool. It tells you where you are today, what’s driving value, what’s holding you back, and what levers you can realistically pull over the next few years.
Without a valuation, most owners are guessing. With one, you have:
A realistic understanding of market value
Clarity around EBITDA, SDE, and add-backs
Insight into how buyers, lenders, and partners will view your practice
A roadmap for improving value over time
We often tell clients: the best time to get a valuation is before you need one. It allows you to be proactive instead of reactive—and puts you in control of the timeline.
Final Thoughts
You don’t need a long list of resolutions to make meaningful progress. If you focus on these three—cleaning up your books, sprucing up the practice, and investing in a valuation - you’ll be in a materially stronger position by this time next year.
And whether your goal is growth, stability, or an eventual exit, that kind of forward momentum is always worth the effort.
If you’d like help thinking through any of these areas reach out to us here at Wicklow, we can offer you a free consultation and help get you on the right path as you consider the future of your practice.
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