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February 15, 2021
Making the Right Business Decision

Running a successful practice is significantly determined by the series of decisions the doctor makes. To ensure the best outcomes out of all your options, it is important that, along with the right frame of mind, you have a system that guarantees you that the best decision is being made.

A direct correlation exists between the questions you ask yourself and the decisions you make. Having repeatable and predictable systems that ensure success from your decisions can be extremely powerful and efficient to any practice owner.

In my continued effort towards improving my leadership skills, I naturally refer to different types of resources that help direct my focus, be they books, podcasts, videos, mentors, or this blog post. Recently, while listening to a podcast, author Andy Stanley shared his preferred method for making better decisions, a process which I found relatable and enlightening, and which I chose to share with you.

Andy Stanley produces a leadership podcast appropriately named: The Andy Stanley Leadership Podcast, and he reviewed his decision-making criteria on a 2021 episode: https://andystanley.com/podcast/january-2021-better-decisions-fewer-regrets/. Besides hosting his own podcast, Andy Stanley runs a thriving network of churches based out of Atlanta, GA, and he has been named one of the ten most influential pastors in America by Outreach Magazine. When you are a successful entrepreneur, regardless of the industry you are in, the principles you implement are sure to be modeled.

In his podcast, Andy Stanley refers to a series of questions that he utilizes whenever an important decision needs to be made:

  1. “The Integrity Question: Am I being honest with myself?”

    Many of us like to think that we are usually being honest with ourselves, yet only when we are acting in congruency with our core values, can we truthfully attest to that being the case. Our core values ground us in times of stress, and the more imminent a decision becomes, the more stress it can elicit. Make sure you have considered and defined what core values you stand for, and then review them on a regular basis so that they are easily accessible when needed the most.

  2. “The Legacy Question: What story do I want to tell?”

    As a successful practice owner, it is imperative that you keep your shared Purpose readily accessible to help you make decisions. Your Compelling Reason Why can create the framework for your decisions, as well as the story that evolves from it. Consistency in action creates consistency in decision making, and keeping your Whyin perspective can give you the confidence to know that your decisions will communicate the intended message. You are in charge of creating your own story, and the right decisions can influence that story.

  3. “The Conscience Question: Is there a tension that deserves my attention?”

    What does the phrase “Trust Your Gut” truly mean? To me, it means that you are acting with integrity. Every entrepreneurial doctor must maintain remain grounded and in control when deciding on the right steps to take. Whenever doubt starts creeping into a decision-making process, it is a sign that perhaps some of the choices in front of you may not be aligned with your sense of self or well-being. The habit of consistently acting with integrity will alleviate any tension that may manifest when making a decision.

  4. “The Maturity Question: What is the wise thing to do?”

    There has to be a better way of knowing what the wise thing to do is rather than just asking our friends and colleagues. I am all about asking for help, as long as you are asking the right sources. Learn how to properly assess the need in front of you. Determine the right priority out of all the options. Decide how you will make the effort happen, and then create a plan to execute efficiently. Having the right team of advisors, with a breadth of experience and knowledge in the area, can save you a tremendous amount of time and money. Confirm that you are indeed making a wise decision with the help of a trusted advisor.

  5. “The Relationship Question: What does love require me to do?”

    We may all have different definitions for love, and ways of showing it, however, in one way or another, love ultimately revolves around caring. Caring, in the business sense, can be defined in your shared vision statement. A vision statement articulates the long-term results you desire out of your healthcare business. What was the reason that prompted you to start a practice? Do your decisions support your vision for the future? In doing so, are you demonstrating what love may require you to do?

Although some of the decisions you face may remain difficult to make, having a set of criteria, or guidelines, like the ones discussed, can certainly facilitate the process and increase the chances of your decisions being the correct ones. Have the confidence in the questions you rely on, or use the ones discussed. You may also reach out to us for assistance with establishing any of the components mentioned above that can improve your practice and your life. Contact your local coaches today at https://elevatingdentistry.com/#Meet-Our-Team

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