Pinpointing the Success Factor
I recently conducted a survey of several dozen of the most successful medical practices in the country. This survey included three separate fields: dentistry, chiropractic and podiatry. I was attempting to differentiate, distill, and pinpoint the success factor. That “one thing” that separated those practices from the lesser successful. Interestingly enough, my small study matched the results of a much larger study, conducted in a book titled, “Good to Great.” In this book, the author, Jim Collins, wrote about his search for the “one thing” that most clearly differentiates the businesses that he deemed great from those inhabiting the rest of the pack. These were the businesses that stood the test of decades, which continued to grow despite recessions, depressions, and any other force of man or nature.
He and I reached essentially the same conclusion. The businesses and practices that could weather any storm, climb any mountain, and beat any opponent, did so because they rested upon the abilities of exceptional staff members. Almost across the board, and almost without exception, the practices that put attention on hiring the most enthusiastic, intelligent, and motivated staff did the best. Those with a more laissez-faire attitude had a more laissez-faire practice. And so, those that gave very little attention to the process were usually barely hanging on. Interestingly, other factors like the economy and competition were barely a concern of the more tightly organized ships. Yet, they were the overriding concern of the less organized, less staff driven practices. Having great staff is a key factor in having a business with long-term survivability. Assuring that great staff can find their way into your facility should be one of your most main concerns. If you do not have a standard and reliable way to let the great applicants shine, the more socially veneered individuals tend to be picked. The “all talk and no action” team member, who will not only sink your ship, but will gather the rest of the crew to smoke cigarettes on the deck as it lists toward its final descent. In conclusion, the most cost effective action for a business or practice owner is to concentrate on bringing the most brilliant staff possible on board. Your practice will thank you, your staff will thank you, and your bottom-line will breathe a sigh of relief.