The 5 things you must focus on right now in regards to finances (Part 12)
A message from Dr. Ziv Simon
March 31, 2020
Hi there,
I hope you had a fruitful day.
Even if your practice is not producing at the moment you can still be productive.
We already agreed that the growth plan for 2020 is out the window. The key words are survival and stabilization.
We are moving from strategies to tactics.
What's the difference?
Strategies are the "big picture, looking into the future and taking actions that bare fruit in the future and are meant to grow and win over time. This is the general commanding and directing the navy, army and air force to win a war. Playing a giant game of chess.
Tactics are immediate actions meant to achieve short-term goals and deal with emergent situations.
Dealing with a crisis requires a tactical approach.
These are the "boots on the ground" fighting from house to house. It's a platoon winning one battle at the time and advancing their position slowly under heavy artillery. Very bloody.
We are all in the tactic phase now.
We are the "boots on the ground" and we need to advance on the ground and in our practice. Lace up your boots, my friend.
The best analogy I heard all week was by Keith Cunningham, author of "The road less stupid". Please go to Amazon and buy the book after reading this email. Here's the link to make it easier.
He compares dealing with the crisis to how an emergency room works.
When a patient comes to the ER, they don't check his cholesterol or BMI. They focus on the patient's survival. The ER strategy is the make sure the patient doesn't die and they focus on stabilization.
Keith talks about 5 tactics that help ER teams achieve their goal:
- Extreme focus and intensity
- Constant monitoring of vital signs
- Instantnous communication
- Massive flexibility in responding to each new crisis.
- Speed of action and interaction
If you can apply all 5 and adapt a tactical approach in managing this financial havoc, you and your business have a chance to survive. Breaking even can be considered a gold medal. Wow! It's not what you planned on when the year started.
We already covered how to stay calm, focus, adapt and act fast.
Easier said than done.
Who said it's easy to be in the battle field? Well, we all must do this.
Drop the self-pity. Don't complain or feel sorry for yourself. That will only make things worse.
I know that this is not something you prepared for when you started your practice. You may have bought a new practice. You may have just finished a remodel. Maybe you're ready to retire and sell your office in a few years.
Even as a new graduate, dentistry may not look promising at the moment.
Try your best to be among the ones that will survive all of that and will rebuild and live to tell the story of the Corona pandemic.
Dentistry will come back and in the meanwhile we all must focus and be tactical like an ER doctor.
I'll be discussing this and more of Keith Cunningham's messages during our upcoming broadcast this Thursday. Rashad me are finalizing the invitation and the set up.
The broadcast will start with the tactical steps you must focus on. We will also show an interview with the first patient who was diagnosed with Corona in LA county. The teaching segment will feature Dr. Snjezana Pohl from Croatia. We'll be presenting soft tissue procedure for implants.
It'll be busy.
I know I'm piling up more things on you with every email. You don't have to do it all at once but don't wait to long. The speed of action and interaction is a critical tactic you need apply right now.
Stay strong!
Ziv.
PS
Share your personal struggle with me. I'd love to hear from you.