Clarifying where you want the business to be, planning for the future and adapting to the new COVID-19 world is vital to the future success of any business and even more so right now. This is collectively known as your business strategy and goals – something well worth working on whilst the practice is closed.
- STRENGTHS: what are you good at; what are you best at; what are you, the team and your patients proud of e.g. service, quality of practice, CEREC, CT scanner, great location, clinical experience, reputation
- WEAKNESSES: how are you restricted e.g. premises, opening times, surgery space; what are you not so good at e.g. specialist treatments; where do you need extra help, guidance or support e.g. planning, team management, marketing, making change, adapting to change
- OPPORTUNITIES: what is happening out there that you can embrace and take advantage of e.g. new housing developments, schools, therapists, new treatments, elective treatments, new/fresh clinical experience, patient mobility, new technology e.g. remote consultations, patient communication
- THREATS: what is happening out there that we have no control over but have to plan for e.g. COVID-19, Brexit, industry regulation, new competition, changed patient expectations, closure of businesses, increased patient remote working, local planning
Your new strategy will aim to:
- MAXIMISE and make best use of STRENGTHS
- MITIGATE and REDUCE the impact of WEAKNESSES
- TAKE ADVANTAGE of and EMBRACE OPPORTUNITIES
- MINIMISE RISK and PLAN against THREATS
- Prioritising what is deliverable over different periods of time (short, medium and long term)
- Setting challenging but achievable goals for each
- Putting clear action plans in place to deliver, including who, how and by when
There are many ways you can develop and improve your own business, management and leadership skills and those of your management team through individual training, coaching, mentoring and individual management/leadership profiling.
To see some of the ways in which Your Dental Manager works with other practices, take a look here. For an insight into how business coaching may be something to think about during this down-time, take a look here.
If you would like to discuss your return to practice planning, business coaching or good business practice in general, you can check availability and book a convenient, remote meeting using our on-line calendar at any time to suit your own diary.