SBU Tip of the Month

The Importance of Examining the Fundamentals in Your Practice

By Jeremy Roulin, SBU Regional Director

“Success is neither magical nor mysterious. Success is the natural consequence of consistently applying the basic fundamentals.”
— Jim Rohn

Beginning in March of 2020, a significant number of everyday businesses across North America faced unprecedented adversity. Due to the fallout of the deadly pandemic, businesses closed and entire sectors of our economy were shut down. Unfortunately, this is not over, and more businesses will remain closed permanently rather than reopening. This tragic period of lost lives and lost livelihoods is an extremely difficult time to be a leader.

Over the past few months, you’ve probably made critical decisions and taken important steps as the owner of your practice. You’ve pivoted your strategy to ensure you survive, preserved cash as much as possible, and done your best to communicate candidly to your employees and patients.

At the start of April, the country seemed to grind to a halt, including many hearing care businesses. Fortunately, many of the Audigy hearing care clinics doubled down on the essence of the business over the following months and survived.

Many of you in this time of adversity acted as the leader of your business to reexamine the fundamentals with your SBU. By revisiting the fundamentals and focusing on the actions and responsibilities essential to patient care and driving the revenue needed to survive, you have reopened with a fury.

Therefore, whether it is a pandemic, national emergency, or other market disruptions, these times can become opportunities to redefine the essentials and refocus on the fundamentals that are needed to operate and maintain a healthy business while being the leader you have always desired to be.

If you haven’t discussed fundamentals with your SBU team, please reach out.