Dissecting The Key Attributes of a Flourishing Medical Aesthetics Practice
The desire to be the best is, in most cases, a common attribute between medical aesthetics practice owners. After all, practice most owners are also usually medical practitioners who possess a servant’s heart, a savior’s soul, and a desire to do good.
While passion to make a difference in the lives of those they serve may have been the motivator that led them to launch a practice, it is rarely enough to make the vision real. A flourishing practice requires much more. Much more than passion. Much more than the desire to do good. Much more than the willingness to work hard. While all these traits are necessary and a characteristic of all great organizations, they are table stake attributes. Those that are required to enter the game. It is the next level attributes that separate the good from the great.
The creation of a flourishing practice requires something more. It requires a level of commitment, perseverance, execution, accountability, and leadership that goes far beyond that of a typical practice. Each of which carry with them their own challenges. All of which must be present at their highest level if the practice owner wishes to fully realize their vision.
Commitment – Commitment goes beyond following through with the opening of a practice. The level of commitment that the greatest entrepreneurs possess is a separating factor. They are committed to making every detail of their vision reality. Everything from the look, smell, feel, and sound is attended to at such a level that they are noticeably different. This includes the obvious. However, and probably more important, it includes those things that are not so obvious.
Care is given to make sure that the initial visual impression is exceptional and then consistently maintained at each follow up visit. The smell in the air is not clinical but refreshing and invigorating. The patient consultation and engagement process are thoughtful, insightful, and geared toward understanding the patient’s most intimate wants and needs. The cleanliness of practice is impeccable. Unlike most, every little detail of their vision is committed to and executed upon with a high degree of excellence.
Perseverance – Perseverance is more than not giving up. It requires the unwavering commitment to stay the course, not cave to temptation, and continue to do what is right even when it feels like all is lost. This does not mean that they are not agile and open to change or reconsideration of a strategic approach. However, it does mean that they maintain the vision, stay true to the purpose, and make every decision with a core set of values and guiding principles leading the way. If the vision is a good one and the plan is strong, time will be kind. However, if the plan is abandoned too early, the unintended consequences of misaligned decisions may result in the inability to withstand the test of time.
By way of example, when things get tough the tendency for a business owner is to slash prices. After all, the business must survive. However, there are long-term consequences for such a decision. Such a decision may lead the patient base to view a practice in many less than desirable ways. One such view may be that the practice is a discount brand, which carries with it a notion that if they wait long enough more discounts will come their way. Another is that because the practice is perceived as a discount brand the quality of work, service, and products are similarly aligned. Need proof? Consider all the deep discount brands that have come and gone. Now look at how well luxury brands continue to perform. Staying power is not driven by slim margins. It is driven by quality, service, and fair pricing.
Execution – Execution is exactly as the word strongly implies. The work gets done. It gets done consistently, in the manner it was intended, and in the time allotted. Corners do not get cut. There are no short cuts, no work arounds, no compromises. The process for client consultation is the same every time. The phone is answered the same every time. The process for documenting a visit in the patient’s record is the same every time. The cleaning of the practice is the same every time. The patient greeting is the same every time. If there is one area where a practice can falter over time it is in execution. Failure here can lead to unintended consequences. Of which, the creation of a culture that does not fit the original vision is usually the most glaring. As such, this is also usually when a practice begins its downward spiral.
Accountability – Accountability is usually what is lacking when it comes to every other attribute. Accountability requires that the practice owner make tough decisions, do things we may not always want to do, have crucial conversations when needed, and consistently hold everyone to a standard that exceeds the norm. It also requires that the practice owner hold self to a standard of excellence that serves as a model for others. This includes addressing behaviors that are outside cultural norms immediately, holding the team to the processes that were designed to achieve excellence, and committing to a system for operating that ensures consistent execution.
Leadership – “Everything rises and falls on leadership” - John C. Maxwell. Everything that happens within an organization is the responsibility of the leader at the top. In the case of a medical aesthetics practice, it is the owner. The leader establishes the values, develops the culture, shares the vision, holds the team accountable for execution, maintains a level of commitment that ensures the vision becomes reality, and perseveres when others may have thrown in the towel. They are the guiding light. The beacon of hope. The carrier of the vision. The strength when all seems lost. Leaders bring calm during the storm. They establish hope during a time of uncertainty. They bring excellence when all others pursue mediocrity. They are the life changers and the dream makers. They are the difference makers between good and great.
While we do believe that everyone has a desire to be the best they can be, we also believe that not everyone has what it takes to realize such a vision. While it may be a common attribute between medical aesthetics practice owners, it is not one that many live up to for one reason or another. The best possesses a level of commitment, perseverance, execution, accountability, and leadership that goes far beyond the competition. They understand that it is their ability to perform exceptionally well in these five areas that will ultimately lead to a flourishing practice and take them from good to great. A place reserved for everyone, but only had by a few.
💌 Are you ready to take on an investment partner to help you grow your medical aesthetics practice? If so, we are here to partner with you every step of the way. Fill out the contact form or send us an email at info@baraesthetics.com and we will schedule a call to discuss the possibilities.
Don’t forget to sign up for our newsletter below so you never miss an opportunity to learn and grow.
