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Home Practice ManagementLeadershipPractice Building 3 Mindset Changes That Can Transform Your Practice From “BUSY” to “PROFITABLE!”

3 Mindset Changes That Can Transform Your Practice From “BUSY” to “PROFITABLE!”

by Jay Geier

Do you ever feel like you’re not getting the return on your effort? Wondering why you’re always busy and in demand (maybe even to the point of burnout), yet still under financial stress.

Where does this disconnect come from? Most of the time it’s because you’re so caught up in the urgency of dealing with your patients’ needs, there’s no time to develop and execute a business strategy. The consequence being that you’re overwhelmed and confused about how to make it all work. You feel like you’re playing a continual “guessing game” of trying to find the right fix. Do I invest in more equipment? Do I spend more on social media marketing? But if you’re being honest, you know that’s not the type of help you need.

So how do you take control over the profitability of your business?

One of the keys is shifting your focus from things beyond your control (your team, patients, and the distractions they create), to things you have the ability to change. Because this allows you to become intentional with your time and energy so that you see tangible returns from your efforts.

And one of the first controllable things you need to focus on changing is your mindset. Why? Because it has a huge impact on your business. You’re the leader of a small office environment so when everyone around you follows your attitudes and behaviors, they become your company culture.

The good news is if you get your mindset right, you’ll see a positive impact on your practice right away. The excuses will disappear and the new ideas you implement will yield great results. However, if you jump straight to the ideas without dealing with your mindset first, it’s like pitching a ball to someone who doesn’t have a bat to hit with. Good ideas will just go to waste.

To help you get started, here are three essential mindset shifts that you’ll need to make in order to transform your business, into a business.

1. Take Responsibility

This is about eliminating the excuse-making, which is more rampant than most of us are aware. That’s because when things aren’t getting done the way we want, it’s easy to revert to excuses. But the problem is, it makes you believe that you have no control over outcomes. And that’s just not true. You’re always in full control of you. And when you understand that, you can really do well regardless of circumstances.

2. Abandon “Something For Nothing”

Wanting something for nothing is one of the worst attitudes you can have when you’re working to grow your practice. For instance, you want new patients, but you don’t want to do anything to get them. You want a successful business, but you don’t want to look at your checkbook.

However, the truth is, business just isn’t compatible with the concept of getting something for nothing. The real formula for success is the more you put into your practice (both emotionally and financially), the more you get out of it.

3. Accept that Business Needs to Play A Role

Most doctors are very talented clinicians, yet shy away from the business and leadership aspects of what they do. They’re willing to keep improving the quality of service, but are uncomfortable when it comes to increasing the quantity of people they serve. But wasn’t part of your reason for becoming a doctor to help people? And the more people you help, the better off everyone is. Allowing business to play a role in your practice does not make you a bad doctor. Rather, it empowers you to serve the highest number of people for the greatest good.

Jay Geier

Jay Geier

Known as the "Doctor to the Doctors", Jay Geier has combined his rare talents as a business expert, innovator, mentor, psychic intuitor, cheerleader and philanthropist to commit his life to helping doctors "get out of their own way" to realize their highest practice potential and greatest lives. He uses his unique insight, astute business acumen and "tough love" to help doctors transform their practices into stellar businesses. Jay created its ground-breaking new patient program over 20 years ago, but today its much more than a new patient company. It provides training and coaching for the entire practice to address, at the right time, the 5 major areas that are critical to supporting sustainable growth: Human Capital, Space & Equipment, Clinical Duplication, Marketing and Financial. Today Scheduling Institute is recognized as the largest and most respected dental training company in the world. To get a copy of Jay Geier's latest book New Patients Now, text Control to 86329. To get free information on how the Scheduling Institute can help your practice, go to www.SchedulingInstitute.com and click on 'Take the 5 Star Challenge'.

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