.png?width=1628&height=518&name=CC_Academy_logo_white.png%20(updated%20version).png "CC_Academy_logo_white.png (updated version)"){kind=logo}
Strategy starts with your goal.
It considers your 'why', your finance, marketing, HR, sales, strategy, and vision and helps you get there.
You must be able to envisage where you want your business to be three years from now, and that goal becomes your 'North Star' - the direction in which you are constantly headed.
Your strategy is simply getting from A to B.
Your vision exists outside of your model, whilst your values exist within.
The Harvard Business Review cites an extensive survey: "86% of business owners spend less than one hour per month discussing strategy, and 9 out of 10 organisations fail to implement a strategic plan effectively."
So, to be in the top 10% of businesses, you must have a plan and effectively implement it.
In the end… "It's not having a plan that's the most important thing… it's the process of planning, creating, measuring and delivering it that counts the most."
Download our Free Video Lecture: At the bottom of this page, you'll find an option to download a free video lecture taken from The Campbell Academy's ITI Digital Dental Entrepreneurial Program, which details:
✅ The Simple Process of Creating Your Strategy
✅ The Necessity of Long-Term Objective Setting
✅ An insight into The Campbell Clinic's own Strategic Model
Your Vision Statement frames and becomes the foundation of all your strategic planning.
If it is clear to you, it is clear to our customers: who exactly you are and whether you are authentic in everything you do.
Your values are your enduring, passionate, and distinctive core beliefs, which form your organisation's culture. Your values may alter but never change as they guide the strategic moves you consider or reject.
This statement becomes a contract that all staff sign. At The Campbell Clinic, embodying our values is part of our terms of employment.
This represents your strategic starting position and details where you want to be in three to five years.
When writing your Mission Statement, detailing your clear and concise goal, you must be able to visualise yourself at that end goal in order to project your goal to your team.
Your mission statement can exist in a single sentence and should be time-limited and quantitative.
Long-term objectives convert your strategy into specific performance targets. They clearly state what, when, how, and who and are precisely measurable. These long-term objectives address what we need tmust achieve our goals over the next three to five years.
You can then divide these yearly targets into quarterly targets, divide these tasks into manageable chunks amongst your team, and delegate the workload. However, in ordforto be successful, a team member must be appointed to ensure this process continues to run smoothly.
PEST stands for Political, Environmental, Social, and Technological, and it is a matrix for examining and assessing the external factors that may impact your project or your business.
The PEST analysis provides a clear view of the significant external factors that impact our businesses.
These external factors affect our business daily; therefore, there is no point in being entirely inward-facing when developing our strategy. A clear analysis of these external factors is fundamental as it allows us to develop strategies to deal with them.
Working on your PEST Analysis, especially with your team, will give you a multitude of information, which will filter into the following analysis stage for your strategy.
SWOT stands for Strengths, Weaknesses, Opportunities and Threats.
The Strengths and Weaknesses of this analysis focus on the internal aspects of your business—what are you good at? What are you not so good at that you could improve on?
Externally, based on PEST or Competitor analysis, the SWOT analysis allows you to explore your business's opportunities and assess potential threats.
Once you have completed your SWOT analysis, you can assess which Strengths you could pair with an opportunity to establish a strategic advantage. This is an Advantage Strategy.
You can then create a Protective Strategy. By combining one of your Strengths with one of your Threats, you can assess how you may be able to counter the existing threats to your business using internal resources.
Then, taking a weakness and pairing it with an opportunity will convert the weakness into a strength. This is called a Conversion Strategy.
Lastly, taking the Defensive Strategy, you can select a weakness and a threat and develop a strategy to deal with them.
Consequently, the SWOT analysis provides four additional ways of achieving your business's overall mission and goal.
The introduction to this guide outlined the need to establish a business's overall goal, envisaging your future aspirations and providing clear direction.
We can compare our PEST analysis with our SWOT analysis alongside our Competitor analysis and understand what's reasonable for us to strive toward and where our business could be three years from now, summarising that into a single sentence in our Mission Statement.
So, in practice, how does this work in terms of defining a plan?
Strategy can become very complex when written down, especially if you don't have a clear vision of a model. The swimming pool model is very simple and can be scaled up at a later stage.
First, you pick the domains within your business that you want to work on (finance, marketing, sales, etc.), which are the 'swimming lanes' of your model. Then, through establishing the timelines within which you want to work on these domains, these exist as the 'length' of the lanes.
Please follow the link below to download our Free Video Lecture from The Campbell Academy's ITI Digital Dental Entrepreneurial Program. This Video details:
✅ A Simple Process for Creating Your Strategy will allow you to create a clear and effective game plan that drives your company towards its long-term vision and objectives.
✅ The Necessity of Long-Term Objective Setting to establish direction and focus whilst providing strategic coherence and organisational alignment
✅ An insight into The Campbell Clinic's own Strategic Model
Thank you for reading our Guide!
In conclusion, developing a comprehensive strategy to achieve your dental practice's established goal is attracting new patients and creating a sustainable model for growth and patient satisfaction. You can build a strong presence in your community by understanding your market, setting clear goals, and leveraging both digital and community-based marketing strategies. Remember to regularly assess your strategy, adapt to changes, and strive to improve patient care and experience.
If you have any questions, please just let us know 😀