Just how profound is company culture to a successful dental practice and can it be quantified? Let's take a look at other successful businesses to understand this further. In the restaurant fast food industry who would you define as successful? Many people would say McDonalds is the biggest and likely from a total revenue perspective it is however on average, from a per store basis, they do about 2.5 million dollars per year. This ranks McDonalds as number 3 in their industry. Number two is Krispy Crème donuts with 2.57 million dollars in revenue per average per store. Any guesses as to who is number one? With 2.58 million dollars per store Chick-Fil-A holds first place.
What I find fascinating about this is that out of these three restaurants Chick-Fil-A exhibits a profound company culture. For example, they are closed on Sundays yet still do more business in 6 days than any other competitor does in 7 days. They also are the 5th fastest food growing chain. How is it possible they can do more business than anyone else, be one of the fastest growing companies, and do it in less time? What is their secret sauce and can it be applied to dentistry where a private practice works 4 days a week yet does more dentistry than a corporate practice does in 6 days? The answer is absolutely you can when you have the secret sauce- company culture.
Chick-Fil-A is very intentional in having a warm and caring company culture with exceptional customer service. This stems from their commitment and selection of different talent in employees than other fast food chains. Is the same consistency seen at McDonalds? So where does this secret sauce stem from? Looking at the history of Chick-Fil-A it is interesting to know that they went through a period of reinvention due to a slumping time in sales. This was a key indicator that it was time for the company to make a change and their mission statement was created as a rallying cry of their business to be exceptional in the seemingly inconsequential things that make all the difference in the world.
When looking at your dental practice what is your rallying cry? When you get together as a team for morning huddle do you get excited to do dentistry that day, change lives, and serve people? Do you have core values and a mission that provides clarity for you, your team, and your patients? If not, what is it that you stand for? What is it that you want to accomplish; what is your legacy? What is it you want people to say about you once you are gone? Are you living this every single day? To learn more about cultivating this within your practice check out our tv show from this week and contact us today!