Investment Grade Communication: The Key to Building an Investment Grade Practice™

When know nicate, it to. it The two comes and biggest things: 2. to communication, you innately 1. What you want to commuWho you want to communicate variable in communication is simply how? How to best communicate your message so that the other party understands your message. As a leader, I struggled with communication for years. I’m an extrovert, and extroverts like to talk… and talk. Meetings began with gusto, with me in the lead, of course. They ended with bravado as I patted myself on the back for a meeting well done. Days later, when I checked in with team members on progress, I was shocked at their confusion. Wasn’t I clear in the meeting?

Communication is a two-way street involving both the sender and the receiver. Investing time and effort into your communication skills is one of the most important pillars in building an Investment Grade Practice™. The past 25 years of consulting and business ownership have taught me that great conversations don’t just happen; they are designed through an understanding of how to navigate complex emotions, differing opinions, and mindsets.

With that in mind, I present to you an excerpt from Chapter Six

of my new book, Building an Investment Grade Practice, to help you confidently navigate two of the most awkward conversation dilemmas in dentistry. I’ve termed these the Employee Ambush, and Accosted at a Trade Show.

Employee Ambush

One of the most common - and most uncomfortable - positions owners find themselves in is spontaneous negotiations for salary increases, time off, or change of roles. You feel the tap on your shoulder while walking down the hall, “Doctor, can we meet at the end of the day?” Chills run down your spine as you imagine all the bad things this could mean. Employees never ask to meet with you unless it’s something uncomfortable, right?

That’s right; stop in your tracks, turn around and make eye contact. Take a deep breath, drop your voice and say, “I’m always available to meet; let’s make sure today is the best time. I have

about three minutes available now. Can you share the topic with me now?” Then roll into active listening. Stay present in the moment. Even if every cell in your body is screaming that you do not have time for this, plant your feet, smile, connect, and listen. This shows respect and increases endorphins and dopamine for both the speaker and listener. Stick to the three-minute rule - you can even ask the other person to time it. “We have three minutes. Will you be the timekeeper?” When time is up, wrap up the conversation, even if in mid-thought. “I see we will have much to explore. I can (or cannot) meet today. I do, however, set aside administrative time on Thursdays for these types of conversations. Can we get you on my calendar?” Always end with the next action step. No one likes to be left hanging in suspense.

My experience is that spontaneous requests are never as dreadful as you imagine. Taking the time to listen in the moment, you can often diffuse a potentially larger situation. By mastering stop, drop, and roll, you’ll be prepared for these spontaneous questions.

We can break this navigational technique down into the following negotiation skills:

1. Control the process: You cannot control people, but you can control the process, such as timing, and your ability to prepare.
2. Get on the same side: It takes courage for your team to confront an issue. As a leader, be sensitive to this. By sharing that you are always available to meet, you decrease anxiety and open communication pathways.
3. Control the time and place: By virtue of ownership, you hold a position of power. The proper use of power includes setting up the ideal conditions for conversations to take place; the right time, in the right place, with each person prepared in advance. In the sample script outlined above, you’ve exercised proper use of power with two statements, “I have three minutes now” and “let’s make sure today is the best time to meet.”
4. Set expectations: By taking three minutes to establish the topic, you’ve relieved both sides of needless anxiety, wondering what to expect later in the day. You can go about your day, relieved to know that you’ll be prepared when you do meet.

Resisting sales professionals at trade shows is almost pointless. You know you want the latest technology, and the conference environment is intentionally designed to put you in a buyer’s frame of mind. So what’s a doc to do? Arm yourself with deeper negotiation skills.

Sales professionals will throw everything in the book at you, using time-tested techniques, tugging on your ego, shaming you with comparisons to others, enticing you with statistics, etc. They will

control. make you an offer you just can’t refuse. “You are going to do this

Be prepared to walk away and come back to the converfor me? Wow!” is the reaction they look for as a buyer’s signal.

sation later. Sales professionals are literally paid to do this! When you find yourself tempted to say yes to the first offer, pause and reframe the

Humor is a great diffuser, and there are times to take communicadeal through the lens of: I know you are! But what am I? This

tion seriously. For me, the most important line of communication harkens to childhood insults and will break-up the super-chargedwithin a business is the feedback process between employees and endorphin buying state for just a moment.

management. Open, honest communication is at the heart of business and personal relationships. It takes practice and feedback from others to master this level of connection. Great communicaPART 1: I KNOW YOU ARE…

tors invest time in developing these often unfamiliar skills within themselves. Think of it much like football teams and coaches Just as surfers look for big waves to ride, you should expect great

watching the replay of their last game. Peak performers analyze sales pitches to come your way. You are not dazzled by bells and

each player’s position, timing, and adherence to the play call. They whistles (OK, we are, but put that aside), and you will not be

note where players observe the call and deviate from the plan. intimidated by offer expiration dates. Impulse purchases often

Each player looks for where they contributed to success and where leave you with the same hangover experienced after a great night

their actions distracted from the outcome. out with friends. Part two of this navigational skill is to flip the script by knowing what is truly in it for you.

The invitation is to apply that same sense of curiosity whenever you receive feedback on your communication style. As a leader, there have been many times when I did not want to hear the feedPART 2: BUT WHAT AM I?

back of my team. It is hard to hear disappointment, frustration, or anger regarding unmet expectations. Calling up the courage to Preparation is the key to every great negotiation. Prepare yourask questions, and actively listen in spite of my internal emotions, self long before you enter a sales conversation or trade show by

created growth opportunities within me. reviewing not only the speaker line-up but by the list of exhibitors and their products. Read the pre-event e-mail promotions, and

IGP Insight: Creating a safe space for your team to tell you the truth get your team involved in the research. Every new procedure you

is the greatest gift a leader can give their team. Using these converlearn, and every new piece of technology you purchase requires

sational navigation skills will set the proper parameters for healthy, your team to adapt to change. Leverage this fact when negotiating.

honest communication in traditionally stressful arenas. When you take the reins and control these situations in the way you want the As the sales representative shares all the wonderful things they are

communication to be directed, everyone - especially you - gets what willing to do for you, say, “Wow, I love that you are willing to do this

they want in the end. for me. I have to take this back to my partners for review. In addition to what you are offering, I know they will ask me for these considerations. . .” Be prepared to list considerations. This may include:

Additional team training

Dr. Victoria Peterson, co-founder and CEO

Support hours

of Productive Dentist Academy, combines her lifetime of entrepreneurship with a doctorate

Special hotline or dedicated representative

in spirituality. Her latest book, “Building an Investment Grade Practice,” will be released

Extended warranties

in Spring 2023. To take the IGP business assessment, visit www.ProductiveDentist.com/

Upgrades to the product should new releases come out within

Movie tickets, lunch, and any outrageous things you can think of (Seriously, add a little levity to the moment)

This is also another great time to use Stop, Drop, and Roll. If the sales pressure is too high, and you’ve not reviewed the product with your team or bookkeeper, use the technique above to regain