Most entrepreneurial medical professionals start their dream company and quickly find themselves working longer hours for less money. If you are in this boat, you do not have to be! It is actually possible to make twice the amount of money in half the time. (Thus, opening up time for you to take your kids to school, have a hobby, exercise, spend time with your family and friends, and rest!) How? Well, to catapult your profits, first do a little investigating!
What Can I do Better?
To catapult your profits, you need to determine what is working, what is working really well, and how to do more of what is working really well! Similarly, you need to also determine what is not working, how you could improve or replace those processes and/or completely eliminate them! To do this, it is critical that you perform regular and specific reviews of all aspects of your business.
Once you have done this, you can easily see what you need to do in order to do better!
YOU Don’t Need All of the Answers!
Albert Einstein once said, “It’s impossible to solve a problem with the same kind of thinking that created it.” You may be able to identify what is and is not working in your business, but it is often harder to then choose the next steps. (In fact, this is when many entrepreneurial medical professionals waste their time… you know, trying to reinvent the wheel). Therefore, be sure to find a trustworthy advisor or coach to help guide you!
Focus on what is Working Well!
Though it is important to identify what process isn’t working, once you do this focus on what part of this process is working well. Why? Well, when coming from a positive perspective, you can switch on that creative problem-solving brain of yours!
Now, this is easier said than done (so many of us naturally focus on the negative). So, here are the five questions that can catapult your profits —
- Get some clarity by asking yourself, “What’s right about this issue/situation/strategy?”
- Be specific! What about this issue.situation/strategy makes it right and/or makes it effective?
- Now get creative by asking yourself, “What would be the ideal strategy and solution for this issue?”
- You’re super smart and driven (obviously) so get resourceful! Ask yourself “What is missing that could bring about the ideal situation?” Or rather, “What do we need to find, create, add, or invent to reach this ideal?”
- Now, focus on how to implement your resourceful ideas by asking, “What will it take to “What is it going to take to make this issue/strategy/situation ideal?”
By focusing on “What is right?” will, over time, completely change your mindset for, not just your business, but your personal and family life, too!
Pro tip: The next time a conflict rears its ugly head, notice the shift in your attitude when you focus on what is right!
Review and Make Changes
The reality is, some of the new ideas will work well, while some may need tweaking. So, every 30 days, review your questions. How? Well, sit down and ask yourself the following questions:
- What actions did I take this month to support and grow my business?
- Did I implement specific actions to improve my personal effectiveness and efficiency?
- How did my efforts create results?
- What can I implement to do better next month?
In reality, when you identify areas to improve and then act on those improvements, you will become more efficient. Thus, you will increase your results and catapult your profits!