Here he continues along that journey to explain why becoming a results-driven dental practice is key to your success. The order and sequence of actions have a massive impact. It’s a bit like playing a piano: getting all the right notes in the wrong order won’t get the desired result.
Without action, nothing changes
Having made the correct decision, and choosing your route or strategy, equally vital is the execution. Taking action and delivering change is the hardest thing for most people and organisations, but if you fail to implement, there is no point in figuring out the correct decision. Until there is action nothing changes and if nothing changes why would you expect to see a different result?
Without followers, there is no leader
Running a dental business the correct way starts with a vision followed by an achievable strategy (modelled to see the various financial impacts). Then comes decisions backed by actions to implement them, and finally, performance measures to ensure the results remain on track. But who is determining the vision, deciding on the chosen strategy and taking the action?
There are hundreds of definitions of a leader but the only one that truly matters is this one: a leader is someone who has followers. If you can’t get the team on the bus, you will fail.
Are you a leader or the boss? Your culture will be closely linked to the answer. If you are a leader, you will have followers, following you in pursuit of the vision. The team will have a shared strategy, with tangible plans and acutely knowing their part in the big picture. They will understand the skills they need to underpin your plans and everyone will be aligned and focused on the end goal.
What gets measured gets done
At the back end of the process is measurement. So often the key performance indicators (KPIs) aren’t representative of what’s key and they are disconnected from the financial strategy. Setting the correct metrics, measuring the correct things the right way and knowing how to interpret the results are all key factors in keeping the business on track.
Becoming a results-driven business requires you to have a vision, not a delusion; to pick the correct strategy; to make the correct decisions based on modelling the desired outcome; to implement the change; measure the right things; get the team on the bus and give feedback on performance that takes the team and the business to the highest levels of accomplishment.
So, to answer the question we posed last time ‘in pursuit of what?’ the answer must be, the right financial result. The bottom line is, it’s always the bottom line that matters.
Spot On Business Planning specialises in the dental sector and offers a tailored service because your dental business challenges, like your performance monitors, are unique.
Finance is at the heart of what we do and we have a track record of transforming under-performing dental businesses and taking well-performing dental practices to new levels. Our analysis uncovers the challenges facing your dental business and by taking a structured approach, we plan a completely different financial performance for the future.
Spot On Business Planning offers a free initial consultation whereby we will analyse your dental business accounts and highlight where opportunities and risks lie. For no more than a few hours of your time you will get a better understanding of your dental practice, its weaknesses, its strengths and the focus of your approach to achieve improved results.
To arrange a free consultation with Andy McDougall call 01949 851723 or email email@example.com