Practical advice for small business...when your in the thick of it all.
You may have discovered that you have found yourself on a rollercoaster ride as you have ventured into practice ownership. Everything up to this point has probably seemed just as difficult but you had a goal in mind and now, your living that goal: owning your own practice.
For the intent of this post, my knowledge extends to only what Ive experienced in private practice but I would assume that even if you don’t own a practice, owning a small business would also fit the bill.
I’ve come up with a few little nuggets of truth, hopefully you will find some practical use in them or at the very least, be encouraged in your own personal journey of small business.
Accept the reality of the small business landscape: it’s ever-changing. “If I just get to this point”, or “if this happens then”…It often never goes as planned and realizing it’s a dynamic landscape will help you be flexible to make changes as the ups and downs come. Don’t get me wrong, planning ahead is essential but planning based off such a dynamic environment is better.
This sort of goes hand-in-hand with the above tip. Learn to adjust or better said, learn to roll with it. Staff will certainly surprise you, issues will arise, things won’t work, and just life happens. Don’t panic. Find a friend to vent to, or a colleague to sympathize with. You will need to learn how to …well, just roll with it.
LISTEN. Listen to what your staff is saying, listen to your patients (or clients/customers) and most importantly, listen to your gut. Disclaimer here-I don’t mean spy on your staff, I mean listen to their input, listen to what they say; they often have great insight and a good pulse on what is going on. Disclaimer #2. Listening to your gut or intuition doesn’t mean making a rash, not well-thought out decision. It means that we often have an idea or feeling that maybe, something isn’t right. Prepare for it instead of just pushing that feeling aside as irrational.
Recognize what your not good at and find someone who is, to do it for you. There isn’t any shame in knowing what your weaknesses are and delegating to someone more capable. On certain occasions, when I have had to let a staff member go and its been a partially difficult fire, Ive had my HR person come in and do it for me.
Owning a small business is like you are perpetually on a rollercoaster; as soon as you start to think you have it figured out then yet another challenge awaits you ahead. But it will be ok. It’s not always easy but its always worth it.
Stay happy and healthy!
Dr. Jennifer Wademan, O.D.
