SMART Strategy for Economic Woes

October 17, 2008

I just read an article directed at dentists, but they have businesses much like any other — they have their ups and downs. I would like to glean some of the ideas I picked up from this as possibly like you, I’m seeking to surf the waves of the economy, not get caught in the throes.
The SMART method of goal setting as described by Amy Morgan of http://www.dentaleconomics.com: A SMART goal must be Specific. You don’t just say, “I want to be busier.” What is your production per hour, per day? The goal must be Measurable. Goals such as “I want to be happier, more successful, and balanced, and I want more patients saying yes” will get you nowhere. In this case, measurable means looking for a statistical interpretation of success that would result in balance, happiness, and patients saying yes. A SMART goal must be Achievable. You might have been able to produce $1.2 million two years ago, but if your situation and method of operation have changed, the worst thing you could ever give your team is unachievable goals. Your team, knowing the goal is unattainable, will be demotivated instantly. Next, ensure the goal is Relevant

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. Set goals that support your vision, values, and strategies. If no-shows and cancellations are not a problem in your practice, and you don’t see them ever being problems in the future, then you don’t need goals that address no-shows and cancellations. In more sophisticated offices, I often see so many statistics that the intention of the goals and statistics get lost. Finally, a SMART goal must be Timely. Are your goals set to address the actual issues of the moment, or are you two days too late to do something about a systems failure that has already happened? If you are a SMART goal setter, then you are able to accomplish this secret.

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