06 May Decision Time
How are decisions made in your business?
This is a familiar story both within and outside of dentistry that I have witnessed many times. It starts with a business owner with a good track record but who has only one way of making decisions. And of course with a successful track record why should he be challenged? He has a decision to make, seeks opinion, speaks to a few colleagues informally, perhaps a few members of staff or a confident and then when he is ready, launches his decision. This strategy for decision making served businesses owners for years and it worked really well for a number of reasons;
- The pace of change in business was not that fast
- It relied heavily upon knowing the industry or profession inside out
- A robust business can survive most things
But how relevant is this strategy in 2015? We are witnessing big businesses in decline and yet others in the same market are in ascendance. So what has changed and how are some businesses simply making better decisions?
- Businesses now change at a pace that would have been unimaginable even 10 years ago
- Issues are now much bigger, more complex, more frequent and more emotional
- It has been tough. Balance sheets are weak, customers are less loyal and move frequently
As one CEO explained to me recently “We work in a busy market, I’m busy, my team are busy and my head is too often spinning with ideas that need directing and processing. That’s why I engaged the services of a coach, to keep me grounded, to provide new perspectives and give me the space to create insights. I cannot do all of that on my own!”
For many business owners, going it alone is no longer viable. What impact could going it alone be having upon your dental business and is it only CEO’s of big companies that need coaches? Here are a few thoughts:
- How confident are you about your existing decision making process?
- How do you know that you have the right strategies that will help you achieve what you want?
- How do you test your thinking?
- Can one person really handle all of the big decisions on their own?
- Can you be certain that doing things the way they have been done in the past is still viable for you in 2015?
- How might going it alone effect your own personal effectiveness and your clinical ability?
Still prepared to go it alone – What if you were to hold a mirror up to your business, would you be able to recognise it’s biggest challenges and weaknesses (even if it’s you)?
With so many different paths for your dental business to take, so many different interpretations of how the profession will develop and how dentistry could be supplied, let’s face it, the decisions that you make today are also the decisions that will impact your business in two, three or five years time. That’s why our coaching team includes dentists, marketeers, strategists and just bloody good listeners.
Decision time indeed. If not now, when?