Profitable Growth

In this economic climate, should we be talking about profitable growth?  Absolutely!  Otherwise maybe we should just pack up and go home.

But maybe it is a time to be looking closely at business efficiencies, keeping customers happy, ensuring your staff are working as efficiently as possible, and using grass-roots marketing initiatives to help the business survive (and maybe even prosper through) these times.  At a minimum, it is a great opportunity to ensure that you are geared up for the inevitable business growth that will come about when the economy begins to turn around.

What are the essential elements required for profitable growth in your practice?  How can the practice keep growing profitably through/despite these "uncertain" times?  We think mostly the same way as always - the practice can see more patients, and/or it can increase the spend per customer.  Either way it may require more staff, maybe a larger premises, and possibly more locations if you outgrow your physical facilities.

One thing is for sure - if it's not running smoothly now, growth (profitable or otherwise) will only exaggerate any existing problems!

It is our view that profitable growth will always be limited unless you develop and implement a replicable way of doing business whereby:

• The practice consistently produces a profit from each of its services
• All business processes and professional standards are documented and readily available to staff
• You have well-defined roles to whom all routine tasks and functions are assigned
• Staff are able to perform at their optimum and a culture of self-monitoring and accountability is fostered
• Risk is minimised and compliance is maximised through proactive measures and well-implemented standards
• Excellence in customer service and professional standards becomes engrained as "standard practice"
• The practice attracts and keeps quality staff
• Accreditation is a breeze rather than a major stress for all staff

Furthermore, particularly in this economic climate, using grass-roots, cost-effective marketing strategies (in which all staff can play a role) to generate more revenue may play an important part in "surviving the economic meltdown" and laying the foundation for sustainable and profitable growth.

Standard Practice provides a management framework that allows you to develop the foundation for continued, profitable growth.  In addition to this, Standard Practice offers a comprehensive marketing module (the PracticeBuilder Marketing Fundamentals) that provides a step-by-step, practical guide to grass-roots marketing strategies that can be directly implemented (and measured) by practice staff on a day-to-day basis.

 

Imagine...

• A consistently profitable practice
• Where all staff develop a marketing mindset
• And that is ready to be replicated if required/desired
• Without everything depending on the owner or one or two key personnel

Interested in finding out more?  Give us a call, have us call you, or let us show you how we can help you enjoy profitable growth.

<< Managing information   Compliance >>