There is no magic pill I can prescribe you to make your business double overnight. Nothing I can say can instantly give you more work/life balance. I wish I could. If I was able to deliver these overnight, I would probably be sitting on a beach somewhere sipping a beverage. I would not be concerned with who are truly our allies and the pretenders who are actually our competition. We will circle back on that for a future article.
So, what does it take to be a successful CEO? Research shows it is not as complicated as we may think. The fundamentals of any business, whether medical or retail, are actually very similar. I do know these skills can be learned with some effort, and help you attain your personal and business goals. Successful companies have leaders with 5 common fundamentals that occur during their evolution. I truly mean evolution because it is a process, not something you can buy on QVC.
The first is passion! This can also be defined as your “why.” I mean what truly drives you and your business. What wakes you up excited to start your day without whining about it? Why did you become an optometrist or decide to own your own business? Both of these things can easily be lost in the daily grind. If you are not crystal clear on this, your organization and quality of life will suffer.
The second is sacrifice. There is truth to the statement that you must give something to receive something in return. We must sacrifice time, energy and/or money in order to move to the next level. However, when you perform these sacrifices during your career is crucial. Sacrifices made early on pay greater returns when compounded over time. I would think along the lines of delayed gratification.
The third characteristic would be failure. No human being gets everything right all the time or on the first shot. Failure is crucial because it teaches us what is working and what is not. Protocols need to be designed, monitored and then tweaked or eliminated. Growth only comes from change. If we are afraid of failing, then our companies will never be able to keep up with what is on the horizon.
The fourth would be grit! It not only takes a committed work ethic to succeed, but also the ability to bounce back. I believe this is what we are currently lacking in our society. The “everybody gets a trophy” mentality does not teach resilience. We all know this is required in our field and running a business. Every day we are forced to wear many different hats, sometimes switching multiple times from one exam room to the next. This is constantly testing and building our grit.
Last would be intuition. All great CEOs talk about the importance of their “gut instinct”. Those with a lesser work ethic call it luck. However, the most successful leaders know your gut instinct is built from experiences, trial and error, and multiple conversations. Learn to acknowledge it and trust it when push comes to shove.
The most successful CEOs do not believe in an overnight get rich scheme. A rise to the top is about focused effort and coordinated action. I wish I had the RX pad to write each and every one a script for the magic pill. Until I do, keep building your empire one fundamental at a time!
Dr. Scott Colonna serves as Business Management Consultant, a Business Coach and Speaker with more than 17 years’ experience producing double digit annual growth. Dr. Colonna is a partner and CEO of one of the top 1% grossing optometry practices in the USA, as well as the CEO of Uppercut Consulting. He advises Small Business CEO’s and managers with his team in all areas of management and operations. For questions or comments about this article, email email@example.com.