Slow and Steady Wins the Race – Even in Business

Posted on October 31, 2009 by Francis X Acunzo

We live in the “Instant Age” with e-mail, tweets, wall posts, IMs, text messages, and voice mail.  It is fast and exciting to be able to communicate so quickly and efficiently with each other and our customers.  The only problem is that it tends to condition us to think that everything should be so instant in business.turtle-t2883

Brenda Palumbo, Acara’s VP of Operations is always the first to remind me that a sustainable business is built over time and grows incrementally.  Overnight success is for movie stars and hot trendy restaurants not medical practices and medspas.  Just because we use many of the immediate forms of communication developed in the Instant Age it doesn’t mean that our businesses will be (nor should be) “instant”.

When implementing our marketing programs the prudent business owner needs to be watchful of the trends over time.  Whether your business is currently failing, in need of a business boost or attempting to reach the next level there is no instant fix to the problem, a problem that most likely took many months if not years to create.

Like the turtle, slow and steady wins the race…even in business.

FXA

Filed under: General Business, Turnaround | Tagged: , , , | Leave a Comment »

Formal vs. Informal Organizational Structure

Posted on October 29, 2009 by Francis X Acunzo

One interesting aspect of analyzing so many cosmetic medical practices throughout the country is that we are able to observe and compare the various company cultures and their impact on the success or failure of a business.

One important point that everyone in business needs to understand is that the leader of an organization drives the company’s culture. Interestingly enough, the leader that is identified on an organizational chart (oftentimes a physician owner) is not necessarily the real leader of the organization. I’m sure you’re wondering what I mean by that statement.winston_churchill_01

Well, it is important to realize that every company has a formal organizational structure and an informal organizational structure. The one that counts is the informal structure…that’s what drives the business. For example: just changing company policy on paper will not necessarily have any impact unless the informal leader not just the formal leader embraces the change.

Too often we see leadership abdicated to individuals that may or may not have the best interest of the practice at heart. Team members, especially in these economic times, will usually place their personal interests above those of the company and that is understandable however, it is essential that on-site ownership hold the key leadership position with the team.

It’s ok to share this leadership with a manager but never wash your hands of this one very important responsibility.
Understand that when you embrace your role as the leader of your business, you will have the impact that you want and you will dictate the company culture. It will become a reflection of who you are as a leader. This means making the tough decision along with the fun ones.

FXA

As an aside to this post: Always align your management compensation including salary, benefits, commissions, incentives and bonuses with the interests of the practice. This will insure that their personal interests are aligned with your business interests.

Filed under: General Business, Human Resources | Tagged: , | 3 Comments »

Cosmetic Medical Practice Success

Posted on October 16, 2009 by Francis X Acunzo

My apologies for being quiet these past 30 days…it’s been that long since my last post.  Acara has been busy business boosting (our phrase for increasing revenue and profit) many Cosmetic Medical Practices throughout the US.man-standing-on-money2

I’m going to take a moment to brag; and since it’s bragging about my team and the great work they do, I don’t feel too guilty.  In the past 21 days 3 of our clients have held educational events (which we planned and supported as part of their marketing program) that achieved between $20K – $50K in sales.  In one case increasing the monthly revenue by 4 times their average.

We are able to accomplish these types of results because Acara has one of the best teams of operations, sales and marketing experts in the country with experience boosting business for over 60 cosmetic practices/medspas.

Now, I have to tell you, that we know our limitations.  We are only the provider of the success tools.  What really boosts business is the physicians’ and their teams’ passion, drive and ability to implement the Acara tools.  When our clients embrace everything that we preach and provide they succeed.

Thus, congratulations are due to our clients for their great performances these past 21 days!  It makes the entire Acara team proud to see their successes.

FXA

Filed under: General Business | Tagged: , , | 2 Comments »

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