Making resolutions for the New Year is a common practice. So, why not do it for your business? Let’s begin with some positive mantras to set the stage and get some ideas generating.
Repeat after me:
“I will be better organized.”
“I will figure out how to be more productive.”
“I will get a handle on my debt.”
“I will get the most from my technology.
“I will get training for my team.”
Any of these sound familiar? If they do, do you follow through with these resolutions? Many of you may say, “No,” and that is not uncommon.
Know the Power of Planning
Perhaps the biggest reason our New Year’s resolutions peter out after the first two weeks of January is because we do not make a PLAN to support them. An idea can only take you so far without establishing detailed steps to make it successful. These same concepts translate to the business world, and a major annual strategic planning session is crucial for the success of your practice.
The dental business can also throw us curve balls, and our survival depends on whether we have a well thought-out annual plan — or fly by the seat of our pants. It’s not unlike airline pilots, who always fly with emergency plans in place.
On January 15, 2009, US Airways Flight 1549 took off from New York’s LaGuardia airport for Charlotte, N.C. Shortly after takeoff, the plane went through a flock of geese at 3,000 feet, and both engines were knocked out. Captain Chelsey Sullenberger had not landed on water before, yet his training and the emergency plans allowed him to take appropriate actions in an extreme situation and make a safe, successful landing on the Hudson River.
Though many of us have faced crises (economic, professional, or personal), surprisingly few organizations are ready with a plan. Don’t let your dental practice be one of them.
That said, what is your annual plan, and how will you make it a reality? How can you ensure your plan is successful, makes a positive impact on your practice, and offers the highest profit on your bottom line?
The answer: By working with an expert practice management coach. Don’t wait until the New Year. Our coaches are ready to help you PLAN and discuss these questions now. Do this, and allow yourself to enjoy the benefits of a well thought-out plan — even when life just happens.
Take These Steps to Your Success
1. Decide on New Year’s resolutions for your practice.
2. Schedule an appointment with a dental practice expert who can help you make a strategic plan — and ensure it’s a reality in 2012.
3. Schedule a date to meet with this expert before 2012 arrives.
-Discuss your plans for 2012.
– Put this on the calendar before December 31, 2011.
– Count this as your “Team Annual Planning Session.”
4. Assemble a P&L (Profit and Loss) statement of the past 12 months
– Collaborate with a dental expert who is trained to turn your P&L into a management tool for increased profits in 2012
5. Determine with your dental practice expert (consultant/coach) if your overhead stacks up against the true dental industry standards.
6. Project your expenses and goals with the guidance of your practice expert.
– Base these on history, expenses, and potential.
7. Have an annual planning session. Discuss with your team how many working days will be needed to meet your budget needs.
-What services will you provide? (e.g. same-day services, new services, standard of care services, etc.)
-What products can you offer and sell to add value and benefit your patients’ oral and total health?
-With the guidance of your dental practice expert, determine your practice potential and identify your obstacles.
-Brainstorm with your consultant/coach and team to plan how to move beyond these obstacles.
-Finally, develop an action plan.
– This is the step that pulls your plan together and will make your resolutions stick!
Getting Expert Guidance Pays Off
Planning is your ticket to success, but make sure it’s done right. Even the dental practices that do have annual plans often lack a well thought-out strategic plan. Add to that poor execution, and many of these weak plans derail, leading to lost patient appointment time, loss of practice profitability, wasted money, contentious patient issues, and even legal quagmires.
The solution: Have an expert dental consultant guide your annual planning so you leave no stones unturned. Asking for help is the key to creating a profitable year in 2012! Don’t delay. Put this appointment on your calendar today! A ten-step plan will find your practice’s untapped potential and successfully manage your profitability.
The rewards you can reap from New Year’s resolutions don’t occur in a minute. It takes a series of successive milestones as you work toward the change that you seek. This is the reason you need to begin planning today. So, mark your calendar, get set, Go!
How are you preparing your practice for the new year?
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