In any successful team, there are individuals who have a desire for more responsibility and ownership. Once you’ve identified such a team member, engaging them in your practice’s intrapreneurial spirit is important. A great opportunity to tap on these team members is when you’re considering rolling out a new offering by asking them to bring forth the proposal. This empowers them and opens the door to innovation and growth within your practice. But where to start? Let’s dive in.
The 70/30 Rule
Imagine a "partially baked" proposal that’s 70% complete and contains the core information needed to assess the viability of a new offering. This approach allows team member input while relieving you, the practice owner, of the burden of outlining every detail. So, what should this 70% include? Here are some headings and prompting questions to get you started:
Initiating the Proposal (70%)
Overview
Target Audience: Who will benefit from this offering?
Benefits: What advantages does it bring?
Expected Outcomes: What results do we anticipate?
Alignment: Does it match our practice’s culture and community needs?
Background
Need: Why do we need this offering?
Opportunities: What doors does it open?
Market Presence: Is this offered elsewhere, and how successful is it?
Goals
Outcomes: What do we aim to achieve?
KPIs: How do we measure success (e.g., revenue, market share)?
Description
Inclusions: What’s part of the offering?
Selling Points: What makes it stand out?
Addressing Needs: How does it solve challenges?
Market Analysis
Target Beneficiaries: Who benefits most?
Trends: What indicates a demand for this?
Value Proposition
Attraction: Why choose this offering?
Delivering Value: What benefits does it provide?
Marketing and Sales Strategy
Promotion: How do we market it?
Lead Generation: What drives interest?
Implementation Plan
Milestones: What are our key steps?
Resources: Who and what do we need?
Responsibilities: Who does what?
Change Management
Communication: How do we inform and address concerns?
Feedback: Where do team members fit in?
Training
Skills: What training is necessary for rollout?
Risk Assessment
Challenges: What obstacles might we face?
Mitigation: How do we minimize risks?
Finalizing the Proposal (30%)
After outlining the core information above, it’s time for you to add the finishing touches:
Business Model
Pricing: What’s our strategy?
Partnerships: Are there collaborations to explore?
Financial Projections
Forecasts: What are our revenue and costs?
Profitability: What’s our ROI and break-even point?
Staffing
Management: How will the work associated with the offer be balanced with patient care?
Compensation: How do we reward effort?
Considering these questions while creating a proposal provides the team member with the foundation to address key questions while taking meaningful ownership before collaborating with you to finalize the plan. It’s a win-win that fosters growth and innovation within your practice.