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The CEO Mindset – Don’t Be Afraid to Take Risks

The CEO Mindset – Don’t Be Afraid to Take Risks

CEOs in real-world businesses manage and lead by taking risks. You always have to be looking for ways to innovate. What can be improved? What new service or product can be introduced that will generate new revenue?

Dentists should be thinking along these same lines. How can I make the practice better? What services will patients want in the next year or five years? How can I ensure my practice will continue to grow?

As in business, creating a growing practice also requires a certain willingness to take risks. You can’t just sit back and expect your practice to grow simply because it has in the past.

Many dentists are micromanagers who fear making any mistakes. Due in large part to your clinical training, you may find the idea of making mistakes seems nothing short of terrible. However, the pathway to increased success is often built by appropriate risk-taking.

No CEOs have grown and developed in their roles without making mistakes. Many dentists struggle with this concept because they can’t make a conscious distinction between clinical mistakes and practice management mistakes. As much as the former are to be avoided, the latter must be accepted as part of the job.

Smart dentists look at mistakes as learning opportunities. They recognize that errors are part of owning and operating a dental business. Nobody gets everything right the first time. Those who are willing to innovate, take risks and learn from their mistakes have the potential for tremendous growth and development.


Additional Resources

If you liked this rule from Dr. Levin’s e-book, 43 Rules to Increase Practice Production, read another excerpt here. 

Read “3 Habits of Happy Dentists.

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