How to Make 2024 the Best Year Ever For Your PracticeDec 01, 2023
The looming new year used to bring me a feeling of uncertainty, pressure, and FOMO.
"I know I should be making changes, but what should I do? And how do I make it stick?"
Over the years, I developed a process to define my most important goals (or "Big Rocks") and put them on the calendar so I'm always making consistent, measurable progress.
This system works great for practice owners, or it can be modified to apply to your career or any other aspect of your life.
Step 1: Where Are We Now, and Where Are We Going?
- Reflect on the previous period
- What were your 5 biggest victories in the past year?
- What were the 3 biggest lessons?
- What is your deepest drive to build a better business?
- Where are you quantitatively (KPIs, size, metrics) and qualitatively (position in the market, brand)?
- What are your responsibilities as the owner?
- Project forward 3-5 years
- What business are you building quantitatively?
- What business are you building qualitatively?
- What's your future ideal role in the business?
This becomes your North Star - take actions that bring you measurably closer to that ideal outcome every quarter.
Step 2: What Are Our Next Most Important Action Items?
Complete a S.O.O.T. Analysis:
- What are your top 5 business STRENGTHS?
- What are your 3 greatest business OPPORTUNITIES?
- What are you 3 biggest business OBSTACLES?
- What are your 3 greatest business THREATS?
Identify the 1-2 biggest opportunities, focusing on your strenghts.
Identify your #1 limiting factor. What's the biggest thing holding you back right now?
For each of these 2-3 items, now brainstorm 10-15 potential ways you can significantly pursue your opportunity or push back your limiting factor.
For each action item, notate if it's fairly low-effort or low-cost to accomplish. Mark these "LH" for low-hanging fruit.
Now for each action item, notate if it would be an absolute game-changer if you pulled it off effectively. Mark these "HR" for home run.
You should find just a handful of action items that are both LH and HR.
These are your "Grand Slam" action items.
Pick 3 or fewer to commit to completing over the next three months. More than 3 and you won't follow through.
For each action item, break it down into steps.
What needs to happen to complete it? What KPIs will indicate success?
Take the steps, and put them on your calendar as due dates. If you're not doing all of them yourself, assign them to your team appropriately.
Do the reflection once a year, and revisit it every quarter. Complete your quarterly action plan during the third month of each quarter.
If you do this consistently, follow through on your plan, and your life and practice doesn't change, I'll be happy to buy you lunch next time I see you.
Want to help more patients in your practice? Schedule a risk-free strategy session to discuss your goals and develop a plan with Brad Stewart, AuD.