In a world with so much information at your fingertips, you may ask yourself why you would ever need to invest in a business coach or mentor to grow and scale your practice. After all, you could simply read the best books, listen to the top podcasts, and interact with other practice owners to ask questions about their experiences so you can learn from them.
While we are fortunate to have “free” information a few keystrokes or clicks away, many of us still feel like we are stuck – unsure and alone. Sometimes, we feel like we are spinning our wheels – or even worse – going backward.
Well, as anyone who has ever participated in organized sports will tell you – you need a coach to win! You cannot expect to be transformed and to reach the highest heights without an expert to guide you. Otherwise, players would all be running amok – each doing their own thing. No one would have their eye on the proverbial ball.
Consider world championship teams or Olympic medalists. To think that they achieved such levels of excellence and success without professional coaching is ludicrous. Yet, that is exactly what I did for many years. It wasn’t until I hired a professional business coach that I began to achieve quantum levels of growth in my leadership abilities as well as revenue and profitability – rekindling the passion and vision in my life.
As a healthcare practice owner, you are dealing with real money, and the real lives of both your employees and patients. This business is not a game; it is serious. What is at stake for you – and the families you impact – is a very big deal.
It is simply impossible to coach a winning team if you are one of the players on the field.
There are four distinct reasons why a coach will transform your ability to grow your practice and thrive.
Focus: To really move the needle in your life and in your business, simple focus is needed now more than ever. There are so many distractions nowadays, it’s often difficult to focus on things of importance. It is vital that you understand that your most valuable asset is not money, resources, or people – it is time! Time is your only finite resource – once you spend it, you can never get it back.
Clarity: It is essential that you create a clear road map. You must have the right tools and access to the right resources that will help you scale and grow your practice.
Execution: If you can’t get things done – none of the other stuff matters. This is the most difficult part: Leadership is creating a culture that executes. Your job as a leader is to set a strategy that moves you toward your vision in the context of your values. The execution of the strategy must be done as a team. A coach will provide you with the systems, tools, and wisdom to get you moving on the path toward your vision.
Transformation: To be transformed individually, and then as a team. As you transition, your role will vary: Practice Owner, Specialty Practitioner, Effective Communicator, Vision Caster, Expert Delegator/Negotiator, Real Estate Owner, and Succession Planner. While you transition from simply being in business to actively leading your team to grow your business, the transition can often be agonizing; feelings of doubt can be crushing. An effective coach helps you make these growth transformations more quickly and effectively. They provide emotional support, constructive feedback, and help to guide you to be your best.
I have received such an incredible return on my investment in coaching that I have been able to reach heights I could never have imagined. See video link below!! Every day, I get up excited to tackle the challenges and opportunities ahead of me.
As you embark on your journey of growing your practice into a hybrid cash / insurance powerhouse the most important advice I would give you is this: Have the humility and teachability to reach out for help. Hiring a coach to achieve Focus, Clarity, Execution, and Transformation is simply not optional for a high achiever like you !
Next week in Part 2 of Why You Need a Coach, I will discuss some common objections to hiring a coach.
Grateful to be on this journey with you,
Dr. Matthew Harkness