7 Beliefs You Must Have If You Want Your Practice To Be Truly Successful

Successful Practice Owner Belief #1:

“A marketing strategy can only be successful if I fully implement it and test it out for an extended amount of time.”

No matter how great and awesome a marketing strategy is, the marketing strategy is only as good as the physician who is implementing it. You’ve got to implement the entire strategy before you can see if it works for you. You have no chance of it working if you don’t even try it. Once you get a strategy implemented, you have to let it run for at least 90 days so you can see the results and change things to get better results. You should always start by testing any strategy you’re thinking of doing on a small selection of your patients and if that works, roll it out to all your patients.

Successful Practice Owner Belief #2:

“If there is a marketing strategy that works in other practices, then it can work in my practice and in my market too”

While you may need to tweak or adjust the specifics of the marketing strategy, if it has been done in another practice in another market, it can be done in your market. When a physician says “It can’t be done in my market” what they are really saying is they haven’t found the right way to make it work in their practice” and until you actually try an approach that worked in another practice, you will never know whether it can or can’t be done in yours.

Successful Practice Owner Belief #3:

“It’s always better to invest a week or two initially setting up a process, system, or strategy so that I can profit from that work for many years to come.”

Successful physicians are true believers in doing the hard work once and benefiting from that hard work over and over again. Here’s how it can go: you can continue to work 110+ hours a week and make $150,000 a year or you can put in 20 hours of work once and earn a high six or seven-figure income every year for the rest of your life.

Understanding that your income will not necessarily increase because you work more hours is always a tough concept for most physicians and people to accept, but it’s true. You have to get into the habit of focusing really intensely for short periods of time to get strategies and systems implemented, then you can just spend a couple of hours a week optimizing and tracking the results and making changes based on the feedback.

Successful Practice Owner Belief #4:

“As long as a marketing strategy generates patients, sales, and profits, then it’s not a cost.”

You’re an entrepreneur, so by default you’re putting it all on the line which means you will always have a certain level of risk no matter what you do. Therefore, a marketing strategy is only too expensive if it doesn’t return an acceptable profit. Managing the risk of investing money in marketing for your practice can be easily done by investing small amounts on a scheduled basis and then tracking your results before investing more.

The truth is that any dollar you spend that increases your net profit is ultimately a dollar well invested. It’s not too risky when you break your marketing investment down into smaller dollar amounts and track your results to see what’s working.

Successful Practice Owner Belief #5:

“Having good equipment, great location and trained staff are no longer good enough by themselves. I need to carve out a special place in the hearts and minds of my patients.”

In this new economy, the old practice success formula is no longer good enough to succeed. Yes, you still need good equipment, good service, and competent staff, but in this day and age of competition, you also need to focus on selling a unique experience. To reach your highest level of success with your practice, you must have a consistent and enjoyable experience for your patients every time they visit your practice. Then, you must ensure that your staff consistently delivers that experience according to the systems and standards you’ve set in place.

Successful Practice Owner Belief #6:

“I must invest in attending conferences, reading books, and hiring qualified experts to help me improve my practice and stay on top.”

You should make it a habit to attend at least one industry conference and one marketing conference a year. There you will find physicians who have been in your exact situation and have figured out great solutions to the exact problem you’re facing. They’ll happily share their knowledge with you. You also have to make it your personal mission to buy books written by industry experts so that you stay ahead of your competitors. Once you’ve uncovered a problem that you can’t solve or you want to reach your goals faster, then it’s time to bring in the experts.

Successful Practice Owner Belief #7:

“The financial success of my practice is directly dependent on my ability to train, patient, inspire, and manage my staff.”

Obviously you can’t run an entire practice by yourself, so it’s vital that you build strong teams of loyal, dedicated, and committed staff that will carry out your vision. If you spend all of your time doing everything personally, then you’ll never be able to reach the higher levels that you want. Your staff must know their daily, weekly, and monthly goals and be properly trained, supported, and managed in order to reach those goals. You must have your systems and processes down to an exact science so that all team members know their goals and responsibilities.

This is an excerpt from my new book titled "Patient Growth Accelerator" which will be released on May 7, 2020! I hope you enjoyed reading. Let me know your thoughts below!