As a dental practice owner, you do more than provide patient care. You also manage all of the complex responsibilities that come with owning a small business.
For many dentists, it’s the business side of running a practice that presents the greatest professional challenges. Looking for ways to grow their practices and achieve more efficient daily operations, some dentists explore various management systems and philosophies that can help build a better business environment.
Seeking new ideas for improving your practice, you may have come across the Entrepreneurial Operating System (EOS). EOS, in the words of the EOS Worldwide website, is:
“A complete set of simple concepts and practical tools that has helped thousands of entrepreneurs around the world get what they want from their business.”
More specifically, EOS provides a framework for:
- Setting goals
- Running meetings
- Solving problems
- Improving communication
- Assigning responsibilities
Let’s explore how dentists can apply the Entrepreneurial Operating System in their practices.
What Is EOS?
EOS was introduced to the world in Gino Wickman’s book “Traction: Get a Grip On Your Business.”
The concept of traction, as described by Wickman, refers to building a business’s momentum by identifying and strategically achieving well-defined goals. EOS offers a systematic approach to gaining traction that involves setting new goals every 90 days.
The EOS method is both a philosophy and an action plan. The philosophy is based in part on the idea that over time, various incongruent operating systems evolve within a single business. To right the ship, all of the team members and operations need to align within a single operating system.
Other key elements of the EOS philosophy relate to the importance of defining roles, responsibilities, and goals to improve operations and communication among team members.
The actions to implement EOS are broad, but include novel approaches to structuring meetings and setting goals. Teams that embrace EOS use the method’s resources and recommendations to move towards more productive and focused meetings. Staff time devoted to meetings is acutely focused on establishing objectives, measuring progress, and aligning team members under a unified operating system.
How Can Dentists Apply EOS?
The Entrepreneurial Operating System is designed to help small and medium-sized businesses. At Duckett Ladd, we believe EOS is a perfect fit for dental practices. Traction, i.e. systematic accountability, is a useful concept for dentists who want to improve team cohesion and grow their practices.
Dentists can apply EOS by adopting the system’s approach to these three dimensions:
- Vision
- Traction
- Healthy
Vision involves getting all team members on the same page about where you want to take the business and how you intend to get there.
Traction involves instilling determination and accountability into the mindset of each team member.
Healthy refers to developing a leadership team that works together well and inspires confidence and motivation among the entire staff.
What does this look like in practice? EOS implementation involves focused, goal-oriented meetings in which dentists and their employees discuss progress on key initiatives. Goals are a primary focus for the leadership team, the company as a whole, and each individual team member.
When goals and traction become central to daily operations, communication improves within a team. Of course, none of this happens automatically or overnight. However, the EOS system presents clear and detailed steps to take in order to effectively adopt the strategy and achieve meaningful, transformative results.
Get More Insights for Running a Successful Dental Practice
The Entrepreneurial Operating System is a powerful tool for helping businesses establish alignment across departments and teams, improving communication and operational efficiency. Applying this system in a dental practice allows dentists to focus on goal achievement while also providing employees with clear objectives and expectations.
Dentists who commit to EOS are able to boost engagement among staff members, developing a more happy and more productive workplace.
At Duckett Ladd, we view EOS as a valuable organizational tool. In fact, implementing the concept of EOS traction within our own team was one of the key turning points in our firm’s history. If you’re interested in a deeper dive into our team’s relationship with traction, check out this episode of the Dental Momentum Podcast.
To learn more about how we help dental practices achieve their own victories, contact our team of dental industry CPAs and advisors today.
