Success doesn’t happen overnight. And to be successful, you need to set goals. Without goals, you wouldn’t be able to determine whether you are actually succeeding or if you need to make midcourse corrections. In this episode, Naren & Gary share insights on why every practice needs to have a BHAG.
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The most successful companies today, set a BHAG… A Big, Hairy, Audacious Goal, a term coined by Jim Collins and Jerry Porras in their book, “Built to Last”. A BHAG is designed to provide you with a clear purpose, a vision, that gets you & your team on board. It’s a goal that forces you to become a great practice!
We have also got a useful financial tip on tax planning from Mark B. Rosen, Managing partner of Rosen & Associates, LLP. Listen Now!
Time Stamps
- 00:00:24 – Introduction
- 00:03:52 – What is a BHAG?
- 00:05:41 – Why is it important to have a direction?
- 00:11:16 – What is one of the most important things about having BHAG according to Gary’s experience?
- 00:13:48 – A few BHAG’s Gary thinks you should consider.
- 00:13:57 – BHAG – 1
- 00:16:28 – BHAG – 2
- 00:18:35 – BHAG – 3
- 00:19:43 – BHAG – 4
- 00:22:10 – BHAG – 5
- 00:24:38 – BHAG – 6
- 00:25:52 – Dental CPA Insight from Mark Rosen on Tax planning
Q&A Segment
- 00:30:45 – Question – 1 – I have never really worked with my Team to develop specific goals for the practice. How can I introduce the concept of a BHAG to my Team and get them behind it?
- 00:36:57 – Question – 2 – Gary, is it better to introduce a realistic BHAG or should I really stretch and make it a massive goal?
- 00:39:40 – Question – 3 – How can I set up appropriate follow up with my Team so that the concept of our BHAG doesn’t just evaporate in a few weeks?
- 00:47:07 – Question – 4 – Your concept of WIIFM really resonates with me, Gary. How can I incorporate the concept of WIIFM in an integral way with my BHAG?
Resources
The world has changed. Learn how to be a part of this change by being a part of the Thriving Dentist Coaching sessions.
Gary Takacs
Gary became a successful practice owner by purchasing a fixer-upper practice and developing it into a world-class dental practice. He is passionate about sharing his hard-earned insights and experiences with dental practices across the globe. As a dental practice coach, Gary provides guidance for dental professionals on how to create a healthier practice style that lets them deliver excellent patient care while reducing depending on insurance.
More importantly, Gary’s insights are not just based on theory – as a co-owner of a dental practice, he has first-hand experience in making this transformation from a high-volume and low-fee insurance model to a fee-for-service approach that is more sustainable and promotes a patient-centric and financially healthy dental practice, and he is dedicated to sharing this knowledge with other dental practitioners via the popular Thriving Dentist Show!