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Keys to Success in Life and Business

Do you have integrity? It sounds like an easy question with an easy answer, until you really stop to think about integrity. Most of the world lacks true integrity, but once you understand how to develop true integrity, you can stand out. Integrity comes from the Latin adjective, integer. In math, an integer is a whole number. Thus integrity means whole in consistency of actions, values, principles, expectations and even outcomes. Integrity means you are the same person behind closed doors as you are at work. Integrity means you are the same person around your church friends as you are around…

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Why Time Away Is Good For Your Practice

It never fails right? Just when you are about to embark on the trip of a lifetime... Something happens that causes you to question going. Hurdles disguised as crises started to appear. This isn't a new phenomenon. I have learned over the years that whenever I decide to take an extended vacation away from my businesses, two things will happen. First, right before leaving, something will appear that needs my direct attention. Second, when I return, there will be a butt load of things for me to do when I get back. Many of my friends who are also entrepreneurs use these two things as excuses for…

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Understand Your Competitors to Beat Them

Almost everyday someone comes up to me and tells me about something the competition is doing. They think we should change our pricing or our service or what we do in some way because of the way the competition is doing it. That has caused me to do a lot of thinking over the years about competition and how much we should let what they are doing affect us. We tend to think in negative terms about our competition. We tend to think they’re dumber than we are, slower than we are and they just don’t “get it” like we do. The reality is that as long as their doors are open and…

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WHERE’S THE MONEY - UNDERSTAINDING YOUR MONTHLY FINANCIALS

Every month, I have a financial ritual I go through. This has taken me 20 plus years to perfect but I want to share what I consider important and what I look at every month so you can see if the same optics might help you. Financial Meetings: I have two finance meetings per month. I started with one and it was very basic in the beginning. If you don’t have any, I recommend setting aside one day a month to meet with your team, your CPA or accountant and/or your banker and just start. It will become more and more apparent which things you should talk about. It is important to become…

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Seven Steps to Succeed at Executing Your Medical Practice Business Strategies

I love well made plans. I love a good strategy. I love setting goals. But at the end of the day, I will take a team who can execute over any of those. You see, execution is the key to success. Way too many people and companies sit around and talk about what they could do and what they should do, but few are actually very good at execution. Our clinics used to be this way, too. We would come up with great plans and then three months later, we would ask, “What happened to that plan we had?” … Has this ever happened to you? You decide to implement a new policy, for example…

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How to Examine Your Medical Practice to Outperform the Competition

Last week in Understand Your Competitors to Beat Them I asked you what you are doing better than your competitors. Why should your customers choose you over your competition? The first step in answering these questions is understanding what your competitors are doing. The second step is assessing and analyzing your business to fortify your weaknesses and leveraging your strengths. Here is what helped me build my medical practice: Questions to Ask About Your Competitors … We need to know exactly what the competition is doing so we can do it better than them. I’ve found the best thing for…

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The 5 Destroyers of Culture In Your Business

Creating and maintaining the culture within your organization that you desire can be a real challenge, especially as your company expands. As most of you have figured out by now within your own business, the desired culture is the tough part instead of the ones that kind of naturally happen…those of rumors or laziness! These less than desirable cultures seem to seep in quickly, like a pesky little stench that you cannot seem to cover up with air fresheners or candles! So how do we keep the culture that we want; the place where our team members come to work excited for the work day and…

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The Use of Key Performance Indicators: Keeping an Eye on Your Business

As a physician who is also a business owner, I have learned (sometimes the hard way) about “keeping an eye on the ball.” Through almost 8 years as an Medical Practice owner, there have been many successes….and misfires. Along the way, through various courses such as the Success Summit and the MPS Board, I have learned much about day-to-day operations and becoming a better owner. One of the lessons relates to watching certain metrics and defining important factors to watch on a regular basis. Key Performance Indicators are an important part of monitoring any business. KPIs…

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How Hard It Is to Send the Message

Communication is so difficult. It seems every time we ask our team what the number one problem is, the answer is always "communication". We have long recognized that communication becomes more and more difficult as you grow and the importance for team members to hear and understand what you as the leader are thinking. We must communicate where the organization is going and what part they play in the overall picture. The problem is that most do not really understand or define what they mean when they say "lack of communication". Our most recent example comes from one of my new leaders in one…

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THE CALM AFTER THE SUMMIT

Hey Everyone, We just returned from our Medical Practice Success Summit in Las Vegas. We had an incredible time. The energy was SPECTACULAR! I want to personally thank those who attended for playing all out and for bringing their best game. I also want to thank our teachers, they truly shared everything they had to give. Finally, a big thanks to our sponsors for trusting us and providing value for our attendees. It was a rocking time! We had people from 13 states and a variety of clinic settings from dental, to Medical Practice, to primary care, and pain management. They all came to learn and…

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