Updated: 3 days ago
...15 months later my revenues are up 60+% and I have 3 Solea lasers!
I first learned what the Solea laser could do in late June 2017. I instinctively knew it was perfect for my practice because patients HATE shots. I told my accountant about the big 6 figure purchase and she was VERY skeptical. She said things like, "you don't need it" or "you just bought $200+K in CBCT and CEREC less than 2 years ago, lets pay that off first in 3 years" or "you need to wait."
I politely thanked her for her advice and bought my first Solea anyway. I then purchased a second in July 2018 and a V3 in October 2018.
Before any one thinks my accountant was crazy or not good at her job, let me clarify. She is a wonderful accountant, BUT she is not a business coach.
As dentists, we often ask our accountants for permission to buy something and take their advice in isolation. But this is silly. They have no idea what a Solea laser or any other piece of technology will do for your patients or revenues. It is simply an asset and a liability that they have to account for on you balance sheet. That balance sheet is based on your company's financial situation as of today and is a summation of your company's history. All the loans, cash, and assets you accumulated along the way.
Just because you have other debts on your books doesn't mean you shouldn't add more. Your accountant should be helping you determine if you have the cash flow. At the end of the day your accountant is primarily responsible for assessing your tax situation and keeping you in good standing with Uncle Sam.
Waiting to buy Solea would have cost me a 60+% increase in revenue in my first year! I can't imagine what it would have cost me over 3 years while I was "paying off my Sirona equipment!" What about compounded over the next few decades!? So no, I did not follow my accountant's advice on this purchase and now my practice is booming.
***I am a dentist, recounting my own experience, not your business' accountant. You should seek multiple people to help you make your decision. Eg. CPA, business coach, financial advisor, colleagues, etc.***