Andy Acton, Director of Frank Taylor & Associates, sums up the importance of doing what is right when selling your dental practice.
I am sure we’ve all had situations where we have known what the right thing to do is, but paused.
Doing the right thing is sometimes a complex conundrum. Would you be brutally honest to someone about their choice of shirt just before they head in for an interview or take the ‘you look great’ option?
Thankfully, in most cases doing the right thing is more straightforward.
If you believe you are doing the right thing for a client then you should apply a light touch of pressure to convince them, because it is the right thing. Being able to provide a service to a client which you know is good for them is a powerful thing – the problem is the client may not know it yet.
However, if you do not feel the urge to convince a client then either you don’t believe in yourself, the service or the business. If it is about you then you may want to invest in some training. If it’s the service (or product) then review it, it may not be right for your clients and be ruthless – you may need to change it or even offer something different. If the business then it’s a big issue, you either have to re-engineer the business if you are the principal or if it is a business you work for; leave and go and work somewhere else.
Doing the right thing is about your integrity and has to be congruent with who you are as a person. If this doesn’t exist then you will always feel a personal conflict which over time could be a negative force.
At Frank Taylor & Associates the ‘doing what is right’ gene is strong and permeates all elements of the business. Selling a business on the open market to the widest audience is the right thing to do as this achieves the best price possible. Equally, taking a commission payment from the seller is right – accountability is always to the person paying for the service. Sophisticated sellers appreciate these points and benefit from this understanding.
Martin Luther King Jr, summed it up beautifully – the time is always right to do what is right.