What is your competitive edge?
In a world of look alikes, what is your practice's competitive advantage? In my experience, if you ask practice owners, managers or employees that question, then most will say that they are a "high-quality" or a "full-service" practice. Who isn't? Furthermore, if your answer is no different from anyone else's, then aren't you really saying that you are much the same as everyone else?
If you want to create a clear competitive advantage for your practice, it is first necessary to have a clear goal, one that inspires people to work passionately to achieve it. There is risk, however, even for a practice that has a clear goal because it still can loose its competitive advantage. Take the practice that had a goal that they were lucky enough to achieve: They wanted to build a new hospital, master ultrasound diagnostics, or pioneer new pain-management protocols or a surgical technique. One day, they do it. Then they stop. They have achieved their goal. But the world around them hasn't stopped. Inevitably, it catches up and swamps them in the sea of mediocrity. The lesson is: Having a clear goal is only the starting point; once achieved, a new goal always must be set.
It is not necessary to compare yourself to others to create a competitive advantage. Instead, put energy into creating a concrete vision of what you want your practice to become and then work to achieve it. Creating a competitive advantage is about becoming the best at what you have chosen and stamping it with your own style — doing it your way. It is about keeping things fresh and always setting new goals to stay ahead. It is hard work and it takes continuous effort, but it will help shape your practice's reputation and help you attract and keep the staff and clients you want.Take this quiz to find out where you are at creating a competitive advantage for your practice.
Instructions: Answer "yes" or "no" to the following questions. See the Answer Key at the end of the quiz for feedback on your answers.
Scoring: How many times did you answer "yes"?