Partner Magazine logo 15

logo 39 • the CAMLOG Partner Magazine • November 2016 Recognizing competitive potentials Another useful analysis is to examine the competitors in the regional environment. This is where I evaluate the strongest competitors in my consultancy work, for example, in terms of price-performance ratio, patient loyalty, location and other elements which could act as clues for developing one's own practice strategy. I often notice that the immediate competition is not on the radar of the practice owners. It is however essential to take a look at the practices in the direct vicinity through the eyes of potential new customers in order to identify and understand one's own position. Well functioning strategies in a prospering market can be imitated with me-too strategies. But quite the opposite is also true, where practice concepts are developed which are diametrically opposite to those of the competition. Similar strategies for tapping into new potential are also possible, on the premise of highlighting specific unique characteristics in an eye-catching manner. Entirely new and stand-alone concepts may also prove to be the means of choice. Knowledge of the market conditions is essential in any case. The direct market environment can be analyzed to provide a location study. Based on real market data, the customer structures are evaluated in order to reliably identify and assess potential target groups for the practice. For example, this can provide insights on the geographical localization as well as sociodemographic background of existing regular patients. It is also possible to draw conclusions about potential new patients. With the aid of the location study, insights can also be gained on the market penetration and customer concentration in the various areas within the catchment area of the practice. These insights could well be the basis for further planning as well as for the external image of the practice. Recognizing potentials based on your personality The so-called "Reiss profiles" are ideally suited for recognizing personal drivers and motivations. The Reiss profile is a renowned tool in personality psychology which analyzes the individual characteristics of the 16 basic desires which form the personal drivers and motivation structure of a person, and which is therefore very effective when used for strategic planning. The Reiss profile was developed by Prof. Steven Reiss, Professor for Psychology and Psychiatry, and has been successful on the market internationally for over 30 years. It is one of the few tools in personality analysis which is based on science, offers a high retesting reliability, as well as criterion, convergence and factor validity. It is a leading tool for the subject of needs, values and motives and allows deriving precise measures for quick and effective target achievement in various fields of action. In contrast to other tools, it focuses on individuality and does not attempt to categorize. This is the reason why I prefer to use the Reiss profile in my strategic consultancy to provide that additional extra in terms of sustainability and efficiency. Understanding personal motives The human personality can be explained using the so-called "onion method". The four levels interact outwards from within: our basic desires determine our dogma, the so-called beliefs. These in turn have an influence on which skills we acquire during our lifetime. These competences play a major role in defining our behaviors. The Reiss profile exclusively analyzes the stable characteristics of a personality's core – the basic desires. As already mentioned in the beginning, the use of these analytical tools is especially meaningful when establishing or taking over a practice, as this can provide decisive pointers for successful self-employment. These instruments can provide useful services at all times, as the strategy always needs to be adapted over the entire time frame of private practice, as does the definition of goals and measures. These tools are important aids for strategic communication planning. However, as even the best strategy is only worth as much as its subsequent implementation, I will take a closer look at the topic of "Motivational management using the Reiss profile" in my next contribution. 33 PRACTICE MANAGEMENT SWOT analysis internal Strengths Weaknesses Opportunities Matching strategy Utilizing opportunities which fit well to the strengths of the practice. Conversion strategy: Eliminating weaknesses to utilize new opportunities, i.e. converting a threat into an opportunity. Threats Neutralization strategy: Utilizing own strengths to fend off threats and thus "neutralize" them. Defensive strategy: Do not allow own weaknesses to become a threat. external Basic desires Beliefs Skills Behavior