It is quite possible in the current competitive environment for your business to fail. So what do we need to look out for to avoid the prospect of failure or decline?
Businesses can go backwards when:
1. They don’t maintain - law of entropy. Natural move to a state of disorder.
All things will degrade over time if you don't keep them in good order. Its perfectly normal to find the easiest way forward rather than the ideal way. Constantly reinforcing and updating the standards and SOP's (Standard Operating Procedures) is a vital role of practice management.
2. They don’t taste - have you experienced your service or product? How was it?
You must know what your clients think of you and your service. If you are doing a bad job, they probably won't tell you, but will seek what they want elsewhere. hearing what they have to say might not be pretty, but you have to go there. Time to pull on the grownup pants.
3. Don’t monitor - check constantly to see if all is well
Constantly reviewing outcomes has many benefits. The Hawthorne Effect is a vital tool in management. What is watched gets improved. You also get to understand the heartbeat of your practice and when things change you are on top of it. A detailed understanding of your practice also helps you to make decisions about change, and also where to apply your limited resources for improvement.
4. They don’t explain the value proposition in clear, concise and compelling fashion.
Be clear (are your customers unclear about who you are and what value you bring to them?).
Be concise (are you somewhat clear but go on and on and on in your messaging?).
Be compelling (do the words you use persuade your customers to take the action you want them to?)
5. They don’t welcome - Every person and contact is an opportunity
Every person you meet, anywhere, any time, is a potential client or referral source. Treat every person you come into contact with as a major customer. Give everyone information and invite them to engage with your practice.
6. They don’t test - Are we pushing the boundaries and making innovative changes?
If you don't make changes and improve your practice and service you are going backward. You can be certain that your major competition is changing their business. Change is not the exception, it is the rule.
7. They only tell staff what to do. Teach them, so they understand.
Your staff need to be responsive to the needs of both clients and the practice. They can only respond in the right way when the understand. This means investing in education of all levels and types. Education has a cost, but its not as expensive as not educating staff.
If you need any assistance with your practice contact Ideology Consulting.