Step One: Medical Practice Growth Strategy

Who are we today as a professional practice and if we grow who will we become?

Often when meeting with an individual or a team of professionals from the medical or other professional industry a common statement is echoed. We need to grow.

Step One: Growth is ambitious and admirable, but why is growth needed?

Investing time to clearly define reason(s) for growth matters when developing the strategy. For a single or group of practitioners the process uncovers what’s shared and not shared reasoning. When we have a team of professionals the project, at times, has difficulty moving past Step One. For some sole practitioners, clearly defining the reason causes pause and reflection.

The discussion is usually lead by some who is actively involved with business development and can navigate all the personalities within the practice group. The professional leading the discussion should be able to reduce stress between professionals, partners and decision makers. In the end, exercise should not cause internal friction or contempt. The sole practitioner too should work with a professional to tease out questions and answers.

Does the Why reasons for growth align with the group’s current culture and values?

Are we a Professional Practice or a Commercial Business?

Your Practice or Business, maybe a hybrid of both will have DNA, we’ll define this as their culture and values.

Growing your Practice and Business will have clear differences and similarities. It’s productive to identify and define the differences of a Practice and Business for each professional, key contributors and department.

Once you identify the culture, values and desire to be a Practice or a Business, is there alignment? If there are differences, are they small enough that everyone can move forward?

This exercise could require limited time and investment. Other times, there is a culture and values adjustment that some need time to digest. Because this is personal, getting this out in the open for discussion in a calm and productive process needs to be free of emotional overreaction. Time consuming? Yes, but very beneficial.

Creating alignment not only builds a common bond around the strategy decision, it will make the investment of human and financial resources into a Growth Strategy a positive and productive experience.