DEBRA MILLER
DIRECTOR OF COACHING
When you were a new endodontist, fresh from your residency, you knew that you still had a lot to learn … both clinically and about running a practice. But at what point does that need to learn and grow stop? Is there a professional threshold when you should not expect any further improvement in your practice?
Many doctors wake up one day and realize it has been a while since there was meaningful growth in their practice. They have built up the practice to a certain level, and now it is stagnating. Nothing is horribly wrong, but neither is it improving. Every week, month and year is just sliding by in a familiar pattern.
This plateau is a common state in endodontic practices. Sometimes we call it a “comfort zone”, which reflects that the practice is at least doing well enough for the doctor to manage all the primary responsibilities of life: paying their bills, paying down their debt, home ownership, family stability, etc.
Endodontics is a very advantaged profession. After the initial investment and effort to get started, within a few years most doctors can have enough referral relationships and cases coming in to support a relatively above-average lifestyle compared to much of the population.
At that point, the urgency and motivation for continued growth often tapers off. Of course, some people are naturally motivated to keep pushing for the next level of success. But most people settle around what is already working for them. They reinforce the predictable path, which becomes more ingrained and habitual. Eventually growth stops completely, the doldrums take over, and higher expectations are thwarted.
Breaking the pattern and getting unstuck
The first thing to understand is that most practices are operating far below their potential. Often that potential is hidden by limiting factors amplified in the plateau. That is good news because it means if you are stuck in the doldrums, there is a lot of room for growth.
Fundamentally, it comes down to perception and motivation. If you perceive that any change in your practice or routine creates an unacceptable risk or disruption, and you are not motivated by any compelling need to embrace change, then you have created an environment that discourages attempts at growth.
Most doctors that I talk to are not in desperate financial situations. They are not necessarily unhappy with their practices or teams. They do not feel unsuccessful in the profession. However, they are not ready to accept that their practice can never improve beyond its current state.
Often the key motivation for continued growth comes from creating a vision for the doctor’s practice and personal goals. A compelling vision clearly outlines the next level of success, making it a “want” that is strong enough to feel like a “need”. That is the spark that begins the renewed journey of growth.
Vision into action
Every doctor is different in their priorities. Here are some of the things that doctors prioritize in their vision of the next level of practice success:
- Master teamwork and practice systems
- Optimize scheduling and productivity
- Engage GPs with effective marketing
- Eliminate stress and have fun everyday
- Streamline leadership and management
- Accelerate income and financial goals
- Prioritize work/life balance and lifestyle
- Take more time off and less family sacrifices
- Expand the practice with an associate
- Maximize owner equity and practice value
- Eliminate all practice and personal debt
- Save for future financial needs and goals
- Achieve lifelong financial security and wealth
There are probably a few things on that list that would be a high priority for you to achieve in the future. And you may have practice or personal goals that are unique to you. For instance, one doctor I know wanted to be able to buy a house for each of her 3 children when they got married.
Visualizing the benefits of growth breaks down the resistance to change and motivates taking action. Ultimately, growth and improvement can begin again when you decide that it is worth the effort. As the practice owner and leader, you set the pace.
When the doldrums are no longer acceptable then the next step is choosing a strategy to implement your vision. There are various options: continuing education, learning from colleagues, journals, online courses, self-implementation, etc.
Of course, one option is professional guidance and coaching from Endo Mastery. What we do is help doctors move forward with their vision and we bring to it our experience with hundreds of endodontic practices and doctors. It is a much more streamlined path compared to the trial and error of researching, selecting, and implementing changes on your own.