Today’s episode of All Things Business for Physicians features Dr. Ben Fishbein. He’s a board-certified orthodontist in the Pensacola, FL area and has been voted “Best Orthodontist” by local news outlets including the Pensacola News Journal and Pensacola Independent News. He’s also been recognized for his pro-bono work with the organization Smiles Changes Lives.
Here are a few of the main things you’ll learn in this episode:
- The importance of self-awareness as a business leader
- Dr. Fishbein’s do’s and don’ts of creating a positive workplace culture
- Why he believes a business owner shouldn’t be the “only” leader in the company
- Strategies he uses to keep his team motivated
- Why doing more for others can directly benefit you and your company’s bottom line
- How to identify and deal with “bad apples” on the team
- Why “storytelling” is important for business success
- The best advice Dr. Fishbein ever received
To summarize the key points of this podcast:
- Dr. Fishbein believes his self-awareness is one of the greatest assets he brings to his business. Why? Because he’s able to delegate essential tasks outside his area of expertise (such as accounting, administration, and marketing) to staff members who are better suited to these specific job roles. Not only does this help his company’s bottom line, but it also gives him more time and energy to do what he does best (that is, the practice of orthodontics).
- “Where did I fail to allow this person to fail?” It’s a question he used to ask himself when dealing with what he says is one of the most difficult parts of operating a business: letting people go. How has he learned to better manage this challenging yet common aspect of business ownership? In effect, by delegating this aspect of his company’s operations to a management team who is more qualified for it than he is (see the previous point). Not only has this helped streamline the hiring and firing process, but it’s even improved staff retention and sets his employees up for success, as his management team is more likely to find and hire the right talent in the first place.
- Despite the challenges, it involves, getting rid of staff members with toxic energy is essential, and the sooner you recognize and act (i.e., terminate) the better. Why? Because people who aren’t a good fit for the fabric of your company can negatively influence other team members as well, which may cause you to lose more than just one undesirable employee who isn’t adding value to the team. For a straightforward question that can help you resolve any self-doubt, try this: “If you had to hire that person again today, would you?”
- Dr. Fishbein attributes his company’s positive work environment to several things, including his commitment to being authentic and honest with his team, which he feels helps people believe in and stand behind the company. “People are smart. They can sniff out if you’re not being genuine.” Finding multiple team players who can serve as leaders within the company (who share the same vision and goals) also helps him focus more on his fulfilling his tasks while giving everyone within the company people to stand behind and rely on, instead of having it all fall on his shoulders.
- Respect and kindness are essential. “People only care about you as much as you care about them.”
Dr. Fishbein leaves us with some classic words of wisdom from Henry Ford that have actually had a big influence on his life: “Whether you think you can or you can’t, you’re right.” He can be reached via email at email@example.com.
Resources from the episode: