The 7 Most Expensive Words for Business Owners


The 7 most expensive words in business are…

We have always done it that way!

How often do you hear those words around your practice? If that phrase sounds overly familiar, it’s time to seriously examine the way in which your organization operates in today’s rapidly changing environment.

Certainly, it’s important to build on your past successes and not simply change for the sake of change, which is a costly exercise in itself. But, never forget that, even if you don’t change, your competitors and customers may.

Too often, people confuse necessary change with change for the sake of change. That is not to say that you throw out the baby with the bath water, but any organization (regardless of its past success) should always remain open to new ideas. It’s a recipe for disaster to continue to do things the same old way without at least occasionally assessing if that mode of operation is actually working or you simply think it’s working for you.

Past success is no guarantee of future success. Of the Fortune 500 companies at the turn of the century, only three exist in their present format today. And, since 1986, only 46% of the Fortune 500 companies are still in business. When Tom Peters wrote In Search of Excellence in 1982, he applauded companies that were innovative, quality focused, and growing exponentially. Today, many are no longer in business, when only a few years ago, they were considered invincible!

So, ask yourself this question….

Can you afford to be complacent in your practice?

 Successful business owners will always look at better ways to run their organizations, and hopefully will always remember that the 7 most expensive words in business are “We have always done it that way!”

I challenge you to take a look at some of the processes around your practice and see if there’s anything that could be changed or tweaked to better serve your patients. Write down 5 items that could be updated and provide a deadline for each.

If you’re stuck in a rut, doing things the same way, but wishing for better efficiency, call 844-242-1992 to find out more about our proven strategies and trainings that will help you take your practice to the next level.

Until next time,


Jay Geier


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