Posts Tagged ‘Start Up’

There’s a catch

Thursday, February 17th, 2011
A Sales Gang with Michael Gerber

Image by Infusionsoft via Flickr

This month we’re talking about vision for your practice. But there’s a catch…

In business you are either an entrepreneur, a manager or a technician, according to the work of Michael Gerber and his book, The EMyth Revisited. Entrepreneurs are notoriously bad managers. Technicians tend to struggle with the big picture or the vision for growth of the practice and the brand.

If you’re not entrepreneurial, reading this may be a lot like kissing your sister. If you are motivated to read this through need, but you sense that you are not entrepreneurial by nature, you may need to focus on developing that capability within your team first rather than trying to implement what I am suggesting yourself.

You don’t have to be an entrepreneurial type to embrace the good part of entrepreneurism. You just have to attract someone that you can trust to bring those skills to your team and set them up to succeed. You can hire this person as an employee or a consultant.

I recently worked with an attorney on a challenging business negotiation. I wanted to reach an agreeable price with a vendor but they were playing hardball and not responding to my offers, which in my opinion were fair and in good faith. So I brought in an attorney that was highly recommended to negotiate on my behalf.

The attorney told me that getting lawyers involved would only make the negotiations more contentious and instead he tried to coach me on what to say to my vendor. Big mistake! I got another attorney who quickly got the job done right. I needed to leverage the attorney’s skills, not be foolish enough to think that I could talk to an attorney for 30 minutes and then accomplish all he could.

You can be proactive about increasing practice growth and efficiency even if you are a technician at heart. Just make sure you bring enough human capital to support your entrepreneurial ambitions.

This is the reason we started Ultimate Practice Builder in the fist place. I see doctors struggling all the time with the business side of their practice. UPB is designed to be a trusted partner to outsource the areas of your practice that you don’t have the capacity to innovate and manage with excellence. 

Here’s the other catch: As doctors we are experts… and sometimes we believe in our own hype too much. We can’t know everything about everything. But we have to let go of our ommniscience to grow beyond our current circumstances.

David Zahaluk, MD is a practice optimization expert and the author of The Ultimate Practice Building Book.  His firm, Ultimate Practice Builder, takes physicians to the top 10% of their specialty – in income, time off and quality indicators - within 3 years… guaranteed.  Learn more at www.UltimatePracticeBuilder.com.