02 Feb Whose Race Are You Running?
It is not often I like to discuss the same topic on both a blog and a vlog in the same week. However, I truly believe that the subject of my most recent video is so relevant that it is worth repeating.
I want to again thank those who allowed me to use their thoughts and stories as inspiration for my own comments. We learn so much from each other and we are all better off when we are willing to share our insights.
The key component of my message was that, whether it is about your personal situation or your dental practice, when you allow others to set your agenda, it becomes difficult to maximize your potential to success.
In other words, it is difficult to come in first when you are running somebody else’s race. Your chances of success are dramatically increased when you find a way to “run your own race”.
The Corporate Dental Race
Today, corporate dental groups are the ones setting the rules. They are using their deep pockets to offer free services, discounted services…to make dentistry a commodity where price becomes our primary means of differentiation.
How are most private practitioners responding?
By running the corporate dental race. By matching corporate price discounts in an effort to maintain patient loyalty. By increasing their stress while watching revenues decline as corporate clinics use their cost advantages to improve their profitability despite lower pricing.
Does that sound like a race you can win?
Running Your Own Race
If you cannot win it, then do not run it. Put a big “Did Not Enter” on the stat sheet from that race and look for a way to run your own. Take control over the variables that impact your practice and set them on a path where the race is yours to win.
If that sounds like a daunting task, I will not try to pretend it is easy. Easy is lowering prices because patients ask you to. But easy is reducing your revenue. Easy is making you less profitable.
Running your own race is more challenging. It takes more time to figure out what you want the rules of your race to be…or to even figure out what sort of race you want to run.
But it is also more rewarding. Not only is it more profitable, it also allows you to define your practice in the manner that best suits you. From setting your standard for patient care to providing your team with professional development opportunities and compensation they deserve, you get to set the rules.
Furthermore, you can surround yourself with people who will support you in your race and will see your success as their success.
Running your own race is about your development as a professional. And every race starts with a first step. The first step is often the smallest as you have yet to build the momentum that allows you to take longer strides. Without that first step, there is no race.
The time is now to ask yourself if you are ready to run!