Amanda Floyd, the COO for Fishbein Orthodontics, recently unveiled the remarkable growth strategies that have propelled them to the forefront of the orthodontic industry over the past decade. Are you ready to discover these secrets?
Sustaining A Growth Mindset During Challenging Times
While many orthodontic practices are experiencing a decline this year compared to 2021, Fishbein has adopted an abundance mindset and continued to invest in marketing and hiring. Floyd emphasizes, “We don’t compare ourselves to the unparalleled COVID year, but rather focus on our 3-year CAGRs to track consistent growth.”
Harnessing The Power Of Referrals To Build A Stellar Team
Fishbein’s secret weapon? Leveraging referrals to attract top talent and providing a clear growth path for each team member right from the start. They believe their team of 100+ isn’t a magic number, but a testament to their commitment to consistently invest in people. Their referral strategy was effective even when they had just 7 team members!
Prioritizing Maximization Of Current Locations
Rather than scrambling to acquire more locations, Fishbein ensures each one is operating at peak capacity first. Floyd shares, “We’ve managed to scale single locations to $10 million by having solid leaders and achieving daily clinical production goals.” This required early dedication and hustle before the rewards started rolling in.
Cultivating Open Communication And Alignment
At Fishbein, transparency rules. They foster open dialogue about goals, budgets, and numbers, which instills trust and alignment across all levels. The team rallies around daily targets, with bonuses tied to goal achievement.
Adopting A Long-Term Approach To Leadership Development
Fishbein’s leadership philosophy hinges on patience and long-term development of team members. Instead of expecting instant success, they invest years in mentoring and nurturing talents, creating versatile, homegrown leaders ready to seize the moment when opportunities arise.