What dentists can learn from companies like Apple to help grow their practice

July 6, 2015

As a practice owner, you may not think you can learn much from the companies on Fortune’s 2015 World’s Most Admired Companies list. After all, they’re big … really big. In fact, to even get into the running, you have to be one of the 1,000 largest U.S. companies (based on revenue), or have revenues of at least $10 billion if you’re a non?U.S. company.

As a practice owner, you may not think you can learn much from the companies on Fortune’s 2015 World’sMostAdmired Companies list. After all, they’re big … really big. In fact, to even get into the running, you have to be one of the 1,000 largest U.S. companies (based on revenue), or have revenues of at least $10 billion if you’re a non?U.S. company.

So how can anything done by these super?sized, wildly successful, profitable companies possibly be relevant to “a little dental Practice” in Smallville, America?

Well, guess what? With very few exceptions, these companies rank at the very top of the list in all their respective industries for trainingtheirpeople. People management – defined for this evaluation as the “ability to attract, develop, and retain talent” – is one of the nine key attributes of reputation used to rank companies for the prestigious honor of being on Fortune’s MostAdmired list.

Two other attributes are related to financial performance. A company can’t just have a good quarter or a good year or even two good years. To be an admired company, you have to be a GROWING company – one that can sustain growth year after year after year. In fact, if a company has a spike and can’t turn that into sustained growth, they will be decidedly UNadmired, because it means they were totally inept at capitalizing on what they did that worked. A company with stagnant growth is actually going downhill because profit gets eroded. It’s impossible to just “stand still.”

So how do these companies grow? How can you grow? What more can you learn from some of the most-admired companies in America? Download this free whitepaper and watch a special video message from Jay Geier of The Scheduling Institute to learn more.