Business success is an Art, but it is also Science and Strategy!
Recently Forbes Magazine, published an excellent and intriguing article called Business Success: Art, Science and Thinking Strategically, written by Ty Kiisel. The article is based on Paul Butler’s superior book called: Think to Win: Unleashing the Power of Strategic Thinking, which points out what too often is taken for granted when the immediate solution to building up one’s patient base is found in a “pre-packaged” product. Truth, business success is an art!
Like a creation by DaVinvi, there is a whole lot of science and strategy that goes into making a notable of of art!
This is a highly important and vital concept! We have been writing and speaking about the creative aspects of business capturing and retention for years.
To be successful in business, you [the medical practice owner] must implement strategies to increase the amount of viable business opportunities in their area as possible. They need to be able to convey their message clearly, concisely and efficiently in order to insure that those prospective patients do business exclusively with them.
The successful medical practice owner implements game plans in order to get all new patients without advertising, develops strategic network relationships, they alter the paradigm of the marketing in order to create steady streams of new referrals; and more importantly, they enrich their patient platform.
According to the article, regardless of the business you’re in, we all understand the importance of making data-driven decisions. In reality, the idea of “following your gut” without any information to back up your instincts, has about the same odds of regular success as flipping a coin. While Butler argues data is essential to good decision-making and strategic thinking, he says the right data isn’t always very complex data.
Butler explains what he means by business success is an art when he says, “It starts by looking at what you know is true (in the marketplace),” he says, “comparing it to what’s happening in your business, and looking at the data to get clarity. Once you have all the facts it’s much easier to make informed decisions—you can “follow your gut,” to use the vernacular. Most people do research before they buy a car; you need to do the same type of homework when you make business decisions. It helps you evaluate your options.”
Butler suggested five principles to help think more strategically and make better decisions. They are more a way of thinking about things than a list of things to do—think of them as a mindset.
Challenge Assumptions: Just because it’s the way you’ve always done it or the way you’ve always thought about it, don’t allow yourself to be afraid to look at situations, or potential opportunities, from a different perspective.
Scope the Issue: “It’s not about solving world hunger,” he said. He suggested identifying the market challenges you have the ability and the resources to solve—and go after them first. Don’t bite off more than you can chew.
Rely on Facts and Data: Data helps make informed decisions and is an important part of making strategic decisions. “Helps” is the operative work. Data doesn’t make decisions, but rather informs them. People are better able to make choices when they understand the implications of those choices. Information provides important context, the art of good decision-making is how we use the data.
Focus on the Vital Few: It’s not about doing 20 or 30 things; it’s about doing the two or three things that have the most impact. It’s not uncommon for people to get bogged down because they perceive so much needs to be done and they don’t know where to start. Focus on the vital few—the few things that are the most important.
Connect the Dots: In other words, there needs to be a clear line between the problem or market challenge you’ve identified and the actions you’re taking. If not, you could be spinning your wheels. Sometimes it’s as simple as confirming what you propose doing has the potential to make a difference or move the needle to solve the problem or challenge you’ve identified. You would likely be surprised at how many businesses focus on things that don’t or can’t.
As you can see, business success is an art! If used properly and repeatedly, strategic marketing and networking may replace and/or eliminate many of the expenses and time you spend gathering clients. Therefore, you will be able to focus on the business of meeting your clients needs.
This is an excellent piece, to read it in its entirety, simply click here.
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