How do you as a dental practice owner respond to todays market conditions so that your practice continues to thrive and survive these unprecedented times?
We are witnessing an unprecedented economy. Demand in many industries is very strong.
Residential real estate values have exploded. Construction materials and many raw materials in the supply chain are unavailable. Qualified employees in many industries, including Dentistry, are non existent and severely limiting the operations of many businesses.
It is so bad for American Airlines that they announced this week that employees in their DFW headquarters will be working at airports to support the airlines summertime operations.
An Unprecedented Economy
One way to grow a thriving practice in unprecedented times is by getting the most out of the people who are already on your team. Today’s CEO views developing people as a primary role. The difference between high performing organizations and average performing organizations is how well they utilize the talent of the people that are available to them.
Utilize the talents and passions of your team
Nobody has an unlimited supply of highly qualified, gifted and talented people. It is the ability of the leader to bring out the inherent potential, gifts, talents, discretionary energy, and passion of the individuals she or he leads that makes the difference in organizational performance and work satisfaction of each individual and the team as a whole.
When you provide all of the resources, training, and culture necessary for success and you combine that with directly challenging each individual to take on new and expanded responsibilities, you have a recipe to help determine who will rise up to meet the challenge and who will shrink back.
Set the right course and create meaningful work
The first universal promise of leadership says that the leader promises to set the right course and create meaningful work. Vision provides direction for meaning. Every member of your team needs meaning from their work. Knowing what is important to each individual provides the connection to what is meaningful for that person.
Creating meaningful work simply requires that you first know each person that you lead. The clues that help you to piece the puzzle of each person’s life together are found in the experiences that shaped them and those things which are currently shaping them. A curious and thoughtful approach combined with listening to understand will serve you well in getting to truly know each of your team members.
Attract the best people through value and recognition
Finally,
- when you create an organizational culture where people are valued and recognized for their contributions,
- when you as a leader become known as a developer of people who creates and expands opportunities for the people in his or her organization,
- when organizational health and an abundance mentality are priorities,
- and when your purpose is powerful, your vision is clear, and your values are strong,
then you have created an enterprise that will attract the best people seeking a new position, especially in these unprecedented times.
Doing all of this, you have positioned yourself very well to add the best of the best to your team in a highly competitive marketplace.
At Line of Sight Coaching, we have created a quick ten-question self-assessment Leadership Quiz. Take this opportunity to gauge your leadership effectiveness and get an answer to the question…”Have you ever wondered about your ability to lead?” Take our Free Leadership Quiz.
Dr. Joel Small and Dr. Edwin McDonald, the founders of Line of Sight Coaching, are dental practitioners, authors, speakers and Business Leadership Coaches who work with healthcare professionals to help them build more successful practices so they can live the balanced life they seek.
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