Welcome to the first part of my three-part series on the psychology of practice transition. I’ll be talking about how to get an associate into a practice with the goal that they will buy the practice.
Today, let’s discuss today the selling doctor’s concerns. If you’re the selling doctor, one of your big concerns is, “I don’t want to make a mistake. I want to find someone who’s the right fit.” I will tell you, trust your instincts. Don’t ignore any red flags. No, nobody’s perfect, but if something’s nagging at you, if you’re not sleeping at night, if you’re worried that maybe you’re not making the right decision, don’t do the deal. You absolutely want to make sure you find the right person. Don’t settle. You don’t have to sell to this person. They’ll always be another seller who comes along.
How do you determine if something is a good fit, if it’s going to work out, if
this person really is going to be compatible with you and share your values?
I like to use scenarios, hypothetical situations. I give both the associate and the seller a scenario. Maybe it involves, “How would you deal with this situation as it relates to a patient?” Or, “How would you deal with this other situation as it relates to a member of the staff?” They work on these scenarios independently. Then we come together by phone, by Zoom, and sometimes in person, and we discuss.
You learn so much: you learn how people think, you learn how they prioritize.
You learn how they process information, and, most importantly, you learn about their values–by using these scenarios, these hypothetical situations. It’s so important because you gain many valuable psychological insights and that helps you make the right decision.
I enjoy using these scenarios and being the facilitator to make this work out.
In the second part of my three-part series, I’m going to discuss the concerns facing the associate.