Early last month, General Motors announced it would be making a public offering of 365 million shares of common stock at a price of $26.00 to $29.00 a share. Due the enthusiastic reception by potential investors when the shares were actually sold, the shares sold for a price of $33.00. This was an exclamation point to a story of a remarkable turnaround for a company that just two years previous found itself on the brink of extinction. For years General Motors had paid little attention to the market. Not only were they offering products were of little interest to the market, the quality of their products deteriorated and predictably their market share dwindled. Unbelievably they seemed to make no effort to change direction.
Successful companies monitor market trends judiciously and make the necessary changes to meet market demands. A company’s ability to make changes quickly (agility) determine whether that company is a market leader or lager. One shared frustration of car ownership has always been the unavailability of service on the weekend. When I saw the sign on my local General Motors franchise that they were finally offering Saturday service, it confirmed to me that indeed they were finally tuned into their market.
Market trends are continually changing the face of dentistry. The agile practice will recognize and adapt quickly to stay in front of the pack. With over 30 years’ experience in private practice, believe me I have adapted to market changes more than once. Don't get caught at the back of the pack, as General Motors did. There isn't a government bailout in your future. Contact Dentist CEO, for an "agility" assessment today!
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