The Power of Productive Paranoia

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According to Andy Grove, Productive Paranoia is the ability to be hyper-vigilant about potentially destructive events that can hit your company and then shift that fear into preparation and clearheaded action.

How much time do you spend on offense when facing challenges in your practice? Based on my experience, 90% is the magical number, enough to grow the practice, team, and patient demand. What about the remaining 10%?

In today’s episode, I’ll talk about that 10% defensive mechanism and the steps into productive paranoia that will help you create something that’s not susceptible to market and economic shifts. I will discuss some essentials to ensure that you’re a good steward of that cash flow and that you’re preventing a downside. As you listen in and enjoy the podcast, I hope you put it into action, implement some ideas from today, take notes and get a little more prepared through productive paranoia.

Tune in and find solutions to common practice issues at Prescriptions for Your Practice.

Key Quotes:

“You, the doctor owner, are the number one asset in the practice.”
“Busyness does not equate to business, and it needs to get rid of the undisciplined motion and the wasted time motion in the practice each day.”
“A productively paranoid practice sees the power and series of thoughtful “What if…” questions. And working through these dangers, you can create effective actions and clearheaded preparation that ensures that your practice flourishes no matter what happens.”
“Make sure that you maintain your calculated aggressive optimism forward-moving; stepping into your vision-type posture is really important, but not to the point of being naive.”
“Nothing fails like success.”