"I've studied very hard and earned my degree. Surely, I will be successful because I have earned the right." A new graduate who attended one of my conferences with his employer made that statement, although it may not be the exact quote. I replied by asking him. "Do you believe your length} education has really prepared you to be successful, at least in terms of earning a living?" He paused and then said. "Yes!" I knew that if he were in a sport's draft, he wouldn't be called because he wasn't "league ready." This "big degree equals big money" mindset is common, not only among new graduates, but also among so main doctors stniggling in practice today. Doctors continue to beat their heads against the wall in defeat, wondering. "Why can't I make this work?" Sure, some of these doctors finally wise up a bit and acknowledge that they need help in practice management skills. Although these skills arc necessary, and they will certainly help move the practice in a positive direction, they are severely limited in regards to building a highly profitable business. Here's a tip: business is business is business. The laws of building a highly profitable business, no matter what the service or product(s). arc the same unique laws. These specific entrepreneurial laws arc not practice management skills. Practice management includes tools that allow processes to move more smoothly and effectively, but it has little to do with the actions needed to grow your business exponentially. Practice management lends to owning a business that depends on you. while entrepreneurial training lends to owning a business that works for you. Let's look at this example. My nine-year-old son. Landoa began playing YMCA basketball when he was six. Amazingly, these kids actually succeeded in putting a few baskets in throughout a game. Here's the crazy thing, though: referees make it clear to even one. "No score keeping." What? How in the world will the kids know if they're winning? Well. I"vc come to learn that in today's pretend world, even one should be a winner and receive a trophy, no matter his or her input. In the real world, though, scores are kept and they do matter. By the way. every kid on that basketball court knew the score in his or her head. Most doctors I meet prefer to follow the YMCA's rules for kids. Sure, they set monthly goals and review them at the end of the month. But thafs like waiting until the end of the game and asking. "Hey. anyone know who won?" Keeping score means know ing exactly what must be achieved daily to meet your monthly and yearly goals. You cither win or lose every day. Daily scorckccping allows you to call an audible or change in play when necessary, just like a quarterback docs in a game. How else can you expect to win? Mam doctors stick their heads in the sand because they fear the score on the Scoreboard. Entrepreneurs, on the other hand, know exactly w hats going on in their businesses every hour of even- day. For example. I can call any one of my clients and ask one of their staff members to give me the rundown for the day. They quickly bark off the stats leading up to that hour to include cash collected, the percentage of goal met. leads, referrals, new consults, signed members, and testimonials. Everyone on your team must know these numbers. At the end of each day. the final numbers are calculated and new goals are set for the follow ing day to ensure that monthly goals arc met. This one daily activity of keeping score is just one of many laws to the business game. By failing to know these laws and follow them, it will certainly lead to years of struggle and discouragement, no matter liard you work. Your business is a much more enjoyable game when won. Charles Webb is the cofounder of Freedom Practice Coaching, a full-service practice-con-sidting group that focuses primarily on healthcare professionals seeking to increase growth and profits in their current practices or build a cash- based, wellness componeni lo Iheir practices. Learn more al www.freedompraclicecoaching.com
