Seek Wise Counsel


Ralph Crawford


February 23, 2016

February 23, 2016

Just prior to the holidays in mid-December we attended a magnificent Christmas concert that featured an outstanding men’s choir and a military band. The event certainly helped in preparing us for the meaning of Christmas and the joy that the holiday event brings to participants each and every year.

The concert was held in a large community church that accommodated the crowd that filled every pew. Having arrived quite early to get a good seat, and not being familiar with the church, I had time to rustle through the bible, hymnary and papers that rested in a shelf on the back of the pew in front of us. One small paper, that focused on “giving”, had on the back a list of “Timeless Tips from the Bible”. One tip far down the list immediately caught my eye: Seek wise counsel when you prepare to invest your money (Proverbs 15:22). Arriving home with the counsel words still rattling in my head – and not being very familiar with the Bible – I took time to seek out what was actually written. And there it was in Proverbs 15:22: Without counsel purposes are disappointed: but in the multitude of counselors they are established. The church certainly knew what was involved when asking people what to consider when “giving”.

Upon reflecting on all the different aspects that make up a dental practice – patients, treatment, staff, equipment, supplies, premises, budgets – just to name a few – it’s little wonder that one of the most important things for every dentist to do is seek wise counsel. That is precisely what The Professional Advisory is set up to do. In issue after issue, it provides the wise counsel that is so important towards making any dental practice a success. Consider Canada’s growing senior population. Ron Weintraub’s Geriatric Oral Heal Care outlines his wise counsel regarding the potential benefits of a dental practice that includes a geriatric focus. Colin Ross raises the question, Is There a Buyer for Every Practice? His wise counsel concludes that given the willingness on both sides to adjust and adapt, there is very likely a buyer for every practice. And how about taxes? In his article, David Rosenthal’s wise counsel undertakes 2016 Tax Increases – Corporations Revisited and emphasises that careful planning is required to ensure best results.

Who today isn’t paying interest? Very few we’re sure. David Chong Yen and Louise Wong deal with Interest: Good, Bad and Ugly Side of Debt and their wise counsel clearly shows how managing finances and debt repayment allows dentists to control debt. Mark McNulty deals with The Coming Bond Crisis and his wise counsel outlines competently that today when bond markets are facing largely unknown and unquantifiable risks, it isn’t worth the risk of capital to maintain exposure to traditional bonds or bond trusts. Detecting Rent Rip Off! How many dentists are aware that such a matter may be affecting their premises? Ian Toms lists four specific examples of rent overcharge and it’s his wise counsel that clearly guides how to be aware of them and how to deal with the potential problem.

Yes, the Christmas choir presentation was exceptional entertainment and helped prepare the entire audience for another memorable holiday time with family and friends. But the adaptation of Seek Wise Counsel When You Prepare to Invest Your Money was unexpected and only emphasized what we all know to be true. It’s that wise counsel that The Professional Advisory strives for in every publication. Read on.