A Great Idea to Combat the Recession

Not to beat a dead horse, but the theme I've been pushing over the last week is that the route to survival and success of a small business is to NOT rely on President Obama's economic stimulus package (although we certainly hope that will help), but to be self-sufficient, through proper training and application of management skills.

In our last few blogs, I've shared some of the actions that one of our consultants has implemented with his clients to counter-act the downward economy. Along those lines, the same consultant quoted in the earlier blogs told me the economic climate has helped produce "a sharper focus, a stronger realization by my clients that success isn’t just going to happen for them because of what degree they have. They really realize that their business success will be because of their management skill." (His clients are all doctors of various professions such as dentists, veterinarians, optometrists, etc.)

So what is "management skill"? Is it just some hype? Which of the thousands of books on management skills should one use? Is there any standard management technique that has proven to work time and again that one can learn, just as a health care doctor learns his or her specific skills in professional school? Our experience tells us that the management system we employ and teach is simple in its basics, easily and quickly learned, and has standardized techniques and methods that can be applied to any business with the result of growth through increased efficiency and proficiency .

Reading the blog in Bizjournals, reminded me of one of the important standardized techniques we teach our clients - stay in touch through good and effective communication with all present and past clients and patients. Health care offices are in a great position to do this as they keep medical files on everyone they've ever seen and, as such, these files are a gold mine of potential business.

As the author of the article aptly points out, "These types of phone calls can be done by almost any type of business, not just retail. Imagine if your doctor left you a voice mail saying: "Hello, I was just looking at your file and thinking about you, and I hope that you are feeling well and still watching your weight and cholesterol. See you on your next visit!" Almost any industry can make customer follow-up phone calls, but very few companies and people do it with any consistency and regularity."

This is not only a great idea, but more importantly is an example of a standard management tool - based upon past experience and routine success - that if properly implemented will get any business predictable results. But to get the results one has to be made aware that the tool even exists (as you likely don't learn such tools in your medical training), learn the proper use of the tool, practice it's implementation, train staff on it, implement it, monitor its results and correct as needed. That would be standard management.

We encourage anyone reading this to use the approach of learning all the standard management tools available as the key to survival, solvency and even expansion during these tough economic times. That's what our clients are doing.

Along with our recent blogs and discussion forums, we would love to have your feedback and thoughts on all of this. Our discussion forum can be found at: Silkin Facebook Page.



Larry Silver
President, Silkin

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Help for Small Businesses

President Obama's team is looking at helping small businesses, which would include health care practices, through small business tax breaks. This could be great news for small businesses during these tough economic times.

Baltimore Sun - Don't Derail Little Engine

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Obama's plan to Rejuvenate the Economy: How will it effect you?

Obama's plan to rejuvenate the economy and create jobs could positively
effect your practice, your ability to get new patients, and your overall
practice productivity - that is, if the plan works! Let's hope it does.

http://money.cnn.com/2009/01/12/news/economy/stimulus_101/index.htm?postversion=2009011214

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Small business sentiment falls in December, profits tumble

Sentiment for small business success is the 2nd worst in 35 years.
Owners of small businesses, which would include health care private
practices, are not optimistic about the economy at this point in time.
This can certainly effect attracting new patients and will require good
business acumen by all private practice owners.

http://www.reuters.com/article/ousiv/idUSTRE50C31Q20090113

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