Braving the Seasons of Your Business

Ayla Narayan, Executive Coach

Every year we watch as the seasons come and go. In the northeast, spring brings with it an energy of renewal, washing away the dank cold of winter. We can notice subtle changes with the tiny buds sprinkled across tree limbs on the first warm sunny days. Our first day of spring is just one week shy of the end of this year’s first quarter; affectionately known as Q1. In contrast to the spring renewal, the realization that Q1 2024 is now over and all we can do is take a deep dive and analyze, could evoke complicated feelings for some business owners. We spend a few dedicated meetings in the winter to setting goals and in the spring, we must face the reality of our best laid plans. Did we measure up to our best selves? Where our goals in-line with what is “realistic”? While it is understandable that many of us ask these types of questions, I would encourage us to ask even better questions as we do our analysis. And analyze we must.

Speaking to those that are dreading this particular task or meeting, I hope to encourage you. The metrics are part of a story. If you are not meeting your goals, the story you are telling yourself about that is just as important as the metrics themselves. First use a powerful question in order to remove focus from the negative story. We receive the results that we focus on. If it’s a story about not having the right team or enough resources like technology or how insurance is determined to fail the smaller practices, that is the result you will inevitably speak into reality. Instead try to ask one or all of these questions of yourself as the CEO and of your team as well:

  • Am I being the leader my team needs?
  • What did we do as a team that did make an impact?
  • How can we amplify that for the next 3 months?
  • Have we committed to the right goals?

The secondary questions are about the future. We hope that you and your team are working towards hitting your goals for the end of the year. The good news is, you have three-quarters of the year left to achieve your greatest year yet!

  • How can we use our current talents to make an even greater impact?
  • What workshops or continuing education are we going to add to our schedule?
  • What projects do we have outlined for Q2 that we can adjust or amplify with the information that we have collected from Q1?

That last question about adjustments is arguably the most important. At Fortune we teach the Ultimate Success Formula. As part of your next meeting, I challenge you to utilize the tool and adjust. For your reference and benefit, see the full article on the Fortune Northeast blog here https://www.fortunenortheast.com/blog/.

Step five of the formula is “CHANGE YOUR APPROACH UNTIL YOU GET THE DESIRED RESULT.”  This is a matter of fine tuning. Follow the projects, continue the source meetings, don’t give up on the day-to-day tasks that make all the difference. Don’t be afraid to adjust, early and often. Knowing how to enlist your team in being a part of the solution is a learned skill; one a coach could help you with.

Our jobs as coaches is to remind you that what you are doing is a brave and noble thing. You deserve to bask in the glory and warmth of the spring without the dread of the Q1 review. To conclude, my genuine belief is that goals are meant to be lofty; meant to challenge us and push us. This means that we risk not meeting them all the way. The true goal is to be better than yesterday and to continue on a path of constant and never-ending improvement. The review process is a crucial component of any plan. We see time and again; how many doctors avoid this process and instead choose to “wing-it’. They ignore the evidence of an underperforming team because they don’t know what to do with that information. Good leaders don’t become so by leading with denial. They have likely had help and been dedicated to the process of growth.

Reach out to us and we are happy to help you ask the questions to review the first quarter and get even better success in the future. Register here and one of our amazing coaches will get back to you. https://lp.fortunenortheast.com/schedule

Empowering Leadership: Four Steps to Elevate Your Dental Practice

George Baker, Dental Executive Coach

What does leadership mean to you? Is it about simply getting tasks done, ensuring others do their part, or fostering a collaborative effort where everyone achieves together? At Fortune, we champion a leadership philosophy that emphasizes cultivating leaders who, in turn, empower their teams. Because when you grow leaders, you grow the entire practice. We believe in leaders leading leaders.

Leadership is not just a theoretical concept; it’s a practical skill that drives individuals, teams, and organizations toward their goals. Here are four key steps to effectively lead your dental practice:

  • Define Your Desired Outcomes: While goals are important, results go deeper. They answer the fundamental question: “Why am I doing this?” For instance, if your goal is to see 10 patients a day, this will help you achieve your daily production target in four eight-hour days, affording you more time for yourself and your family.
  • Review Values (Yours and Your Team’s): Values serve as an internal compass, guiding what we perceive as good, important, and beneficial. They can also be a source of conflict, both within ourselves and with others. Being mindful of, and aligning with your own values, as well as those of your team, reduces the likelihood of conflict and fosters a cohesive work environment.
  • Manage Your Emotional State: Your state of mind directly influences your actions and outcomes. Focus, vocabulary, and physiology play crucial roles in managing your state:
  • Focus: Direct your attention to facts rather than emotions. What you focus on, you attract.
  • Vocabulary: Choose words that inspire and motivate, fostering positivity and unity among your team.
  • Physiology: Your posture and breathing affect your confidence and presence. Stand tall, breathe deeply, and exude confidence.
  • Communicate Expectations Clearly: Effective communication is the cornerstone of leadership. As the master communicator, take responsibility for the outcome of your communications. Tailor your message to the receiver, and express your thoughts and ideas confidently, respectfully, and clearly.

For further insights on leadership, I invite you to download Fortune’s Leadership Ebook here.

As a Certified Executive Coach (ICF-PCC) specializing in doctor-owned dental practices, I am dedicated to supporting your journey toward leadership excellence. With a background as a municipal fire chief, I bring a unique perspective to coaching on small team leadership, communication, system implementation, and ultimately, mission/business success.

Let’s connect on LinkedIn at linkedin.com/in/georgewbakerjr or via email at georgebaker@fortunemgmt.com.

Here’s to empowering leadership and continued success in your dental practice.

Treatment Acceptance: Three Language Strategies to Overcome Objections

By Frank Clark

Executive Coach, Fortune Management

In dentistry, treatment acceptance can often be met with hesitation or objections from patients. Understanding and effectively responding to these objections is crucial for dental professionals. Here are three powerful language strategies to navigate and overcome common objections in dental treatment acceptance.

Reframing:

One of the most frequent objections in dentistry is the perceived high cost of treatment. Reframing can be a game-changer. Like changing a picture frame, the content seems different based on the frame or context.  You want to change the focus from out-of-pocket cost to the long-term benefits and value of the treatment. For example, suppose a patient questions the cost of a procedure. In that case, you might say, “While this may seem like a substantial investment to you now, investing in this treatment now can prevent more serious and expensive issues in the future, and give you better oral health overall. “

Reality Strategy:

Another common objection is doubt about the necessity or effectiveness of a treatment. The ‘Reality Strategy’ language pattern challenges the basis of this belief by asking questions that lead the patient to reconsider their stance. For example, if a patient questions the need for a particular treatment, a dentist might ask, “Have you considered how this issue could progress if left untreated, and the potential risks and discomfort that might result from that?”

Consequences:

Patients often focus on the immediate consequences of treatment, such as discomfort or time investment. Using the ‘Consequence’ language pattern involves guiding the patient to consider the long-term consequences of not undergoing the treatment. For example, in response to a patient’s concern about the discomfort of a procedure, a dentist could say, “It’s understandable to be concerned about discomfort. However, consider the discomfort and health implications of not addressing this dental issue now.  We will get you comfortable with the procedure now, and you will ultimately be much more comfortable once the procedure is completed.”

Role-playing these patterns with your team will improve everyone’s skills.  In applying these language patterns, dental professionals need to maintain empathy and understanding, ensuring that the patient feels heard and respected. Listening is so important! By skillfully reframing objections and guiding patients to a new understanding, dentists can not only increase treatment acceptance but also foster trust and long-term relationships with their patients.  You can grow your practice and provide better dental care when you improve treatment acceptance.

To learn more about these and other strategies for growing your practice, please register for one of our upcoming Camp Enrollment workshops.

Click below to register now!

Please email us at adminne@fortunemgmt.com if you need assistance in registering or to learn more.

Owning Multiple Dental Practices: 5 Key Tips

Owning multiple dental practices is a rewarding, challenging, and time-consuming endeavor. You can choose your workload and make a dent in the world by owning more than one dental practice.