How Transparent Are You?
Do you share financial information with your team? If not, start today! While we don't need to send every team member a P & L statement, we owe it to them to share financial goals, and let them know that their hard work is making a difference in how the practice is able to operate. If numbers aren't where you would like them to be, rally your team around improvement. You might be pleasantly surprised at your results when the team understands your practice costs vs. revenue and just what it takes to open the doors.
Play a game at your next staff meeting. Bring out 20 of your most sold items and set them on the counter for all to see. Make signs for your most popular services. Give each team member a sheet of paper with lines that correspond to the items and ask them to write in the cost. Have some fun prizes for those that get closest on each item. Staff members do not need to hear leadership whine about needing to make more money or how expensive everything is. Be creative in educating your team about business basics and over time they will behave and make decisions with the health of the practice in mind.