In this episode, Dr. Barbara Hales talks with Dr. Howard Polansky about improving cash flow for doctors and business owners.
- Dr. Polansky shares his journey from dentistry to financial coaching after a life-changing event with his son. He now helps families and business owners reduce debt and optimize cash flow through a simple economic system.
• He discusses how leveraging tools like lines of credit can improve financial flexibility and free up cash for debt reduction.
• Dr. Polansky emphasizes the importance of having access to cash when unexpected crises arise, using the example of a client who benefited from having a business and home equity line of credit during a medical emergency.
• He offers practical tips for business owners: get a business line of credit to prepare for cash flow challenges and consider a home equity line of credit to access additional emergency funds.
• Dr. Polansky also talks about the role of networking and referrals in his marketing strategy and his goal of helping more people achieve financial freedom.
Key Takeaway:
“Having access to cash when you need it gives you the freedom and flexibility to handle life’s unpredictable moments without making irrational decisions.” – Dr. Howard Polansky.
Connect with Dr. Howard Polansky:
Website: www.financiallyled.com
Email: info@financiallyled.com
LinkedIn: https://www.linkedin.com/in/howard-polansky-7ab9237b/
Connect with Barbara Hales:
Twitter: @DrBarbaraHales
Facebook: facebook.com/theMedicalStrategist
Business Website: www.TheMedicalStrategist.com
Show website: www.MarketingTipsForDoctors.com
Email: Barbara@TheMedicalStrategist.com
Books:
YouTube: TheMedicalStrategist
LinkedIn: www.linkedin.com/in/barbarahales
TRANSCRIPTION
Introduction
Dr. Barbara Hales: Welcome to Marketing Tips for Doctors, the show where we uncover the best strategies to elevate your private medical practice. I’m your host, Dr. Barbara Hales, and today we’re diving into a topic that can transform the way you attract and retain patients. This is cash flow optimization for doctors and business owners. Gone are the days when simply running a business without a financial plan was enough. Today, business owners need a system that helps them keep more money each month, reduce debt, and achieve their financial goals faster. In this episode, I’ll share a powerful story of Dr. Howard Polansky’s career shift and the simple financial strategies that are changing the way doctors and dentists handle their finances. Stick around till the end for some practical tips you can implement right away!
Story 1: Dr. Howard’s Transformation
Dr. Barbara Hales: Let me tell you about Dr. Howard Polansky, a former dentist who made a life-changing career pivot. He started his career in dentistry, first with the US Navy, and then transitioned into private practice in Austin, Texas. But in 2018, a life-changing event occurred that led him to reevaluate everything. One Sunday morning, his son Jaden, who was 12 years old, looked up at him in the hospital and asked, “Am I dying?” This question came after an emergency surgery due to a septic appendicitis that kept him in the ICU for nearly a month. This heartbreaking moment led Dr. Howard to ask himself some tough questions: Is this really the life he wanted? Was he truly fulfilled in his work? After selling his practice, Dr. Howard made it his mission to help people improve their cash flow by optimizing how they manage debt. He now helps families and business owners with a simple financial system that reduces debt payments on mortgages, business loans, student loans, and credit card bills. His goal is to help others maintain their lifestyle while freeing up more money each month to achieve their dreams faster.
Dr. Howard Polansky: “I reached a point in my life where I asked myself, ‘Is this really all there is?’ The moment my son asked, ‘Am I dying?’ I knew that I needed to make a change. I wanted to live a life that wasn’t just about surviving financially but thriving. And that’s what I help others do now – I help them take control of their cash flow and start living a life of financial freedom.”
Key Strategies for Cash Flow Optimization
Dr. Barbara Hales: So, how can you optimize your cash flow and improve financial freedom? Here are three key strategies from Dr. Howard:
- Using Lines of Credit for Debt Reduction
Dr. Howard Polansky: “The key to optimizing your cash flow is understanding how to leverage lines of credit. Unlike traditional loans that are one-way streets, lines of credit offer flexibility. It’s like having a safety net—you can pay off debt and still access those funds when necessary. This is how you get to maintain control over your finances and accelerate your debt reduction.” - Rearranging Debt Payments for Flexibility
Dr. Howard Polansky: “What people don’t realize is that by rearranging how you manage debt, you can free up more money every single month. You don’t have to be stuck with one rigid system that doesn’t work for you. Instead, if you use the right tools, like a line of credit, you can reduce stress and pay off debt faster, making the whole process much more manageable.” - Improving Business Metrics to Free Up Cash
Dr. Howard Polansky: “For business owners, whether you’re a dentist, doctor, or any other professional, improving your business’s financial metrics is crucial. If your business is running efficiently, you can free up cash that can either be used to pay down more debt or reinvest into the business to foster growth. This is a cycle you want to start: freeing up cash and reinvesting it into your practice or business.”
Story 2: The Impact on Dental Practices
Dr. Barbara Hales: Now, let me share another story. Dr. Howard has worked with several dentists, and one of his clients, a dentist in a growing practice, saw a significant cash flow improvement by applying these strategies. Within the first year, his client improved cash flow by $65,000, and in some cases, as high as $290,000! Dr. Howard’s financial system helps doctors, like this dentist, use the money saved to either pay off more debt, reinvest in the practice, or even take home more money at the end of the month. This is what financial freedom looks like!
Dr. Howard Polansky: “I had one dentist who came to me, and after just one year of applying these strategies, his cash flow increased by $65,000. And the best part is that it wasn’t just about paying down debt. It was about freeing up that extra cash so he could reinvest in his practice, grow his business, and still take home more money than he did before. This is the power of managing your cash flow strategically.”
Coaching Opportunity for Doctors and Business Owners
Dr. Barbara Hales: If you’re a doctor or business owner, and you want to learn how to optimize your cash flow, reduce your debt, and create the financial freedom you’ve always wanted, Dr. Howard Polansky offers personalized coaching. This is an opportunity to get hands-on help in understanding how financial systems and strategies can revolutionize your practice’s financial health. Whether you’re dealing with personal debt, business loans, or even student loans, this coaching can help you set up a system to get your finances on track. If you’re ready to make a change, visit Dr. Howard’s website and schedule a free consultation today!
Dr. Howard Polansky: “I’m here to help you create a system that works for you. This isn’t about making drastic changes overnight, it’s about finding ways to free up cash now, and build long-term financial freedom. I’ve seen it work for doctors, dentists, and business owners alike—if they can do it, so can you.”
Conclusion
Dr. Barbara Hales: That’s it for today’s episode. If you found this valuable, don’t forget to subscribe and leave a review. And as always, remember that optimizing your finances is not just about saving money—it’s about creating the freedom to live the life you truly want. This has been your host, Dr. Barbara Hales. Until next time, take care!
Dr. Howard Polansky: “I truly believe that financial freedom is the key to living the life you deserve. Don’t let debt control you—take control of your financial future today.”
