A Healthy Business Approach To Business Value

My personality is one of caring, healing, and solving mysteries. So it makes sense that when I was younger, I wanted to be a doctor or work for the FBI. These are the types of movies, tv shows, and games I love to watch and play still today.

Five years ago, when reflecting on the past and evaluating the path I am on today, I once told a colleague that I should have been a doctor. While she advised that I never say that to a doctor, I will say it to you. The reason behind my profession is relevant to the path "not chosen" in this case.

It all started when I was in college working at the old Indianapolis Wishard Hospital in a research lab funded by Uncle Eli. (Eli Lilly for those wondering) Day in, and day out I was surrounded by doctors hoping to find and test various "wonder drugs" that would solve the next great aliment or disease.

I loved it and I yearned for it when I didn't follow my destined path.

Over the years since then, I've watched numerous movies and tv shows that reminded me of my left turn. The most impactful being "House", which aired on Fox from 2004 to 2012. In short, Hugh Laurie (Dr. House) is an antisocial-maverick doctor specializing in diagnostic medicine who gives his patients every ounce of himself to solve the mystery of their ailments.

It was this tv show that inspired, what was once a regretted left turn, to embrace my chosen vision and the "why" behind my passion and skill for diagnosing the symptoms of a business that eventually causes the deeper and real "illnesses" impacting the entire enterprise, their workers, and the business owner.

Just like Dr. House, diagnosing the illnesses in a business requires a similar set of skills and tools. Both require a deep understanding of complex systems, the ability to ask the right questions, and the expertise to evaluate and interpret data to reach a solution.

Let's break the process down:

1. Understanding the symptoms: In both medicine and business, it's crucial to understand the symptoms before making a diagnosis. For Dr. House, this might involve observing the patient's symptoms and taking a medical history. In the business world, it involves analyzing the financial statements, understanding the market trends, and evaluating the company's operations and their people. By understanding the symptoms, you can identify the root cause of the problem and identify the appropriate steps to solve it.
2. Asking the right questions: Just as Dr. House asks his patients questions to uncover the underlying problem, a business diagnosis requires asking the right questions to identify the root cause of the issue. In both cases, the questions should be focused, specific, and relevant to the situation at hand. By asking the right questions, you can gather the information you need to make an accurate diagnosis.
3. Interpreting data: Once the symptoms have been identified and the right questions have been asked, it's time to evaluate various tests and interpret the data to reach a conclusion. This is where Dr. House's expertise in medical diagnosis and his ability to interpret complex medical data come into play. Similarly, in a business diagnosis, it's essential to have the expertise to interpret financial and market data to understand the underlying problem and develop a solution. (Start with your financial data and see the article from March 9th on 3 Key Tips for Managing Business Finances.)
4. Making a diagnosis: The final step in diagnosing a patient or a business is to make a diagnosis and develop a treatment plan. In Dr. House's world, this might involve prescribing medication, performing surgery, or recommending lifestyle changes. In the business world, it might involve streamlining operations, investing in new technology, entering new markets, improving the leadership capabilities, etc. In both cases, the goal is to solve the problem and improve the overall health of the patient or business in this case.

In conclusion, just like Dr. House, diagnosing the illnesses in a business requires a deep understanding of complex systems, the ability to ask the right questions, and the expertise to evaluate and interpret data to reach a solution. As business owners, we may think that we have all the knowledge we need to solve our problems, however stepping out and asking for an objective observation tends to be a better approach. By following this process, you can ensure that your business is healthy and thriving, just like a patient under the care of a skilled doctor.

As a business coach, my recommendation to you, the business owner, is to get a health check-up. Find ways to improve your business which will in turn, increase the value of your business. Send me a direct message to get your complementary business assessment.

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