Recession is looming; How will you survive this one?

By all counts I’ve seen, we are nearing another recession. Of course, no one can predict how long or how impactful it will be. How will you start planning to keep your practice healthy during lean times?

It’s imperative that you share with your team that NOW is the time to start buckling down to prepare for the recession, which – in my experience – the government is slow to admit until we have felt its effects for quite a while, from months to even a year or longer.

I have more news for you: there are no secrets or clever strategies for surviving or even prospering during recessionary times. Many of the strategies you employ will be ones to buckle down on starting now.

However, I do have a list (we dentists love lists, right?) to get you started.

Work harder, later, earlier, and if needed, for less pay. (Sorry)

  • Bring your very best attitude to work. No glum faces! Fake it if you have to.
  • Take excellent care of yourself, avoiding medicating yourself in any way.
  • Forget about the expression “do-do” happens; it won’t serve you.
  • Stay in touch with all of your clients more than normal, whether it’s phone calls, emails, texts, newsletters or other ways.
  • Simplify what you do. No time for excess!
  • Pay attention to the details. You can’t afford “do-overs”, remakes, and other costly errors.
  • Avoid getting caught up in the “blame game”; it helps no one. Don’t blame Trump, the ADA, your team, the insurance companies, or anyone else.
  • Be 100% accountable and a model for your team. Hold them accountable, too.
  • Oh, and it’s always helpful to pray, even if it only helps calm you.
By | 2019-08-26T10:19:37+00:00 August 26th, 2019|business coaching, coaching, coaching for dentists, dentist leadership|Comments Off on Recession is looming; How will you survive this one?

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