One interesting aspect of analyzing so many cosmetic medical practices throughout the country is that we are able to observe and compare the various company cultures and their impact on the success or failure of a business.
One important point that everyone in business needs to understand is that the leader of an organization drives the company’s culture. Interestingly enough, the leader that is identified on an organizational chart (oftentimes a physician owner) is not necessarily the real leader of the organization. I’m sure you’re wondering what I mean by that statement.
Well, it is important to realize that every company has a formal organizational structure and an informal organizational structure. The one that counts is the informal structure…that’s what drives the business. For example: just changing company policy on paper will not necessarily have any impact unless the informal leader not just the formal leader embraces the change.
Too often we see leadership abdicated to individuals that may or may not have the best interest of the practice at heart. Team members, especially in these economic times, will usually place their personal interests above those of the company and that is understandable however, it is essential that on-site ownership hold the key leadership position with the team.
It’s ok to share this leadership with a manager but never wash your hands of this one very important responsibility.
Understand that when you embrace your role as the leader of your business, you will have the impact that you want and you will dictate the company culture. It will become a reflection of who you are as a leader. This means making the tough decision along with the fun ones.
As an aside to this post: Always align your management compensation including salary, benefits, commissions, incentives and bonuses with the interests of the practice. This will insure that their personal interests are aligned with your business interests.