As entrepreneurs, we face many common fears whether it’s worrying if we will be one of the typical small businesses that closes less than five years after opening, or struggling to reach profitability. Even the most seasoned veteran has these same worries, but it can be particularly challenging to new entrepreneurs. Despite all the stress that comes with opening your own practice, building confidence can happen!
What makes great leaders stand out isn’t intelligence or authority, but a willingness to listen, learn, and grow from those around them. You might be thinking that it is counterintuitive, because the boss is supposed to have all the answers, right? On the contrary, the best teams are those that are formed around open communication, constructive feedback, and support which is exactly how you will be able to build a confident crew.
Build A Team Dedicated To Your Vision
Every business owner wants to have the best staff possible, and it really is essential for new leaders (and new ventures) to have a talented team. If you are to build up a strong team that believes in the vision of your practice, you are going to have to give up some emotional equity (whether you choose to also do so financially is up to you). Emotionally makes sense - nobody wants to work long hours, late nights, and holidays to help someone else become rich. Giving your team a reasonable work schedule is a great start.
The main goal is to have a collaborative team. By having clear and fair expectations, your team will be better able to follow suit. Remaining open to feedback and criticism is also key, whether it is from inside or outside the practice.
Don’t Be Afraid To Ask For Help
When it comes to being a leader, the misguided understanding is that the boss has it all figured out. The idea exists that any outside counseling or opinion will make the leader look weak and unable to effectively lead.
Stanford’s Center for Leadership Development and Research conducted a study that found 100% of the surveyed CEO’s enjoyed receiving coaching on leadership, yet only 66% of them actually pursued and obtained that coaching. This shows that you aren’t alone in your concerns, and being viewed as unable to lead for having a mentor is an unfounded idea.
A mentor will give you better insights into chiropractic and operating your own practice, which will provide you with the right tools to handle your new everyday responsibilities. While the final decision is up to you, you will have more confidence after consulting with others, including your mentor, other leaders in the field, and members of your team.
Chemistry Is Key
You probably already know that a good rapport between you and your team will result in higher confidence, but you might not know how to accomplish that. Team-building activities, positive reinforcement, and providing perks are all great, but there’s more to it. Here’s a tip: encourage more face-to-face interaction with your team members everyday.
Researchers from MIT’s Human Dynamics Lab conducted a study in 2012 and found that informal engagement between team members improved productivity. While it might seem time spent at the water cooler (and not working) is time lost, your practice should feel like a family. Encouraging positive interactions between you and your team will only make you more efficient.
For more information on how to become a better leader and running a successful chiropractic practice, join us for our next seminar.