An extremely valuable piece of the practice building puzzle is resource management.
And even if you manage your resources effectively, most days in the life of a business/practice owner can be challenging, unrewarding, and even stressful BUT…
IF you manage your resources properly, you WILL have enough good days in each month to make it all worthwhile. That is, as long as you don’t mentally check out, quit, or coast.
Most business/practice owners don’t focus long enough, commit long enough, or implement long enough. They attempt to TIME THEIR RESULTS like stock investors trying to TIME THE MARKET. It’s a very bad strategy. Staying in the market and investing consistently over time regardless of what the market is doing has proven to yield the best results.
TOO MUCH…
D.C.s spend too much MONEY on rent, staff, and equipment.
TOO LITTLE…
D.C.s spend too little TIME learning, thinking, implementing.
TOO MUCH…
D.C.s spend too much MONEY on trying to attract strangers into their offices.
TOO LITTLE…
D.C.s spend too little MONEY communicating to their past and current patients.
TOO MUCH…
D.C.s focus too much on what THEY want.
TOO LITTLE…
D.C.s spend too little time thinking of what PATIENTS want.
IT’S ALL ABOUT RESOURCE MANAGEMENT—how you think and what you do with what you have.
I’ve said it before: No amount of time will fix a bad business model or bad attitude.
So if your practice isn’t growing, then you can be certain it’s because you haven’t grown.
YOU are your most valuable resource!
