Everyone needs to acknowledge that they have blind spots. Not addressing these in your dental practice can lead to problems in your business.
When it comes to blind spots, perhaps the biggest one of all is assuming you don’t have any. But everyone has blind spots. Thankfully, they pose a serious threat only when we refuse to acknowledge them. Private dental practitioners, and business owners in general, intuitively understand how to maneuver around many potential blind spots.
For example, you hire support staff. You’d miss out on a lot of business if you didn’t at least have a scheduler. Assuming you already have dedicated employees, the bigger question becomes: what might be hiding in plain sight that’s hindering your potential for greater success?
I take pride in my ability to think on my feet and make quick decisions. Good leaders are often encouraged to make snap judgment calls, but therein lies a trap. Savvy opponents can pick up on your fast thinking and trick you into choosing a rash course of action in haste rather than an effective strategy. Don’t get me wrong. I’m not suggesting that bad actors are out there baiting you to fall for their deceit. But if you’ve developed a habit of taking swift action, take a breath first.
Rarely does provocation need an immediate response. This is especially true when you receive harsh criticism. It’s natural to want to defend yourself, particularly when you’ve done nothing wrong. On the other hand, if you’re especially empathetic, you might do the opposite, which is immediately soothe the upset patient or employee.
Proceed with caution. Neither approach is to your advantage. Pause briefly, and then clearly state your intent to seek more information. Let the other party offer their point of view before you tell them yours. Tell them you appreciate their feedback, and if you’re ready, offer a resolution. If you need more time, assure them they’ll receive a response once you’ve had time to decide.
What can cause blind spots?
While pulling the trigger too quickly may be the biggest culprit in worsening your blind spots, there are plenty of other considerations. Another big mistake I see is entrepreneurs who surround themselves only with those who think like they do. In my business, I don’t want partners who think like me. Do I want them to share my values? Absolutely! But I need people who are pragmatic, detail-oriented, or who habitually think outside the norm. The more pairs of eyes, the better. Together, we see what others can’t. If everyone agrees with you, then you’re poised to walk straight into a great big hole. Learn to be receptive when your teammates sound the alarm.
It’s a great feeling to move forward in your business with confidence and ease. But don’t get cocky. I remind my clients that hubris and ego will bring them to ruin. Being overly confident is a blind spot in and of itself. Nothing puts a lid on future success like the stubborn refusal to learn and adapt. If we don’t learn, we get left behind.
Be open see feedback and criticism as guidance. When you see a pattern in the feedback you receive, it’s time to pivot. You might soon realize that something is off kilter. You might be able to pinpoint what’s wrong based on the feedback you’ve been getting. But you still might not know how to solve it. Never fear. That’s where someone like me comes in.
Why a consultant is a good idea
As a key strategist, I’ve built my career seeing what others need to watch out for but aren’t in a position to sense for themselves. If there’s one lesson that sticks out above the others after being in this business for 40 years, it’s the impossibility of seeing the bigger picture from the inside. You can’t do it.
But a willing team of experts from the outside looking in can see. If you’re in the midst of wanting to make a big shift in your organization, don’t try to do it alone. The risk is too great. Know that there’s guidance well within reach. Professionals like me are adept at providing essential insight, saving you tens of thousands, if not hundreds of thousands of dollars in avoidable mistakes.
Your job isn’t to overcome every last one of your weaknesses. Instead, surround yourself with a people who know how to identify potential challenges and who will help you navigate around them. I encourage my clients to grow as big as they can dream, and then dream bigger.
The caveat? I don’t let them do everything all at once, and I don’t let them do it alone. When it comes to charting unfamiliar territory, give yourself the benefit of time, and more importantly, seek various perspectives. You’ll gain the requisite clarity to see past potential blind spots and forge safely ahead.
Editor’s note: This article appeared in the August 2024 print edition of Dental Economics magazine: https://www.dentaleconomics.com/money/article/55089160/how-dentists-can-sidestep-their-business-blind-spots.
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Mark B. Murphy, CEO of Northeast Private Client Group, is an accomplished author, speaker, and motivator who’s revolutionizing the financial planning and wealth management industry. He helps entrepreneurs achieve multigenerational wealth through personalized strategies, leveraging his strategic planning and financial engineering expertise. Forbes has ranked him as the number one financial security professional in New Jersey and number 15 nationwide. Additionally, his book, The Ultimate Investment, is a number one bestseller and new release on Amazon.