Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.
Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.
Below is our interview with Randal Haworth M.D., CEO at The Haworth Instiute:
What does your company do?
Though technically a company, I don’t consider us a company in the traditional sense. This is simply because I consider our clients not as consumers but as patients first and foremost. We do not sell them goods per se, our patients buy a specific medical service which I consider to be among the best aesthetic plastic surgery available. The Haworth Institute provides both surgical and nonsurgical aesthetic procedures employing the latest RF and laser technology for removal of both hair as well as wrinkles, skin tightening and appearance.
What is your role? What do you enjoy most about your role?
I am the surgical director of the Haworth Institute which is comprised of both my clinical practice in Beverly Hills as well as a surgical center and Self-Centered Aesthetics, my nonsurgical medi-spa, helmed by the very talented Katherine Braun RN. The most gratifying part of my work is what I call the circle of change. This circle starts when our team greets our patients from all walks of life around the globe and make them feel right at home. Needless to say, the technical aspects of plastic surgery are immensely satisfying. When I am able to meet their original aesthetic goals, the circle of change is complete and that is the best part of all.
What are the biggest challenges in your business right now?
Running a busy plastic surgical practice is very demanding to say the least. What is particularly challenging is to remain on point at all times. This involves not only creating beautiful results in the very competitive environment of Beverly Hills but also to screen out a sizable number of people seeking unrealistic results and those with problematic personality disorders. Believe me, in this day and age driven by media and litigation, hiring the wrong employee or operating on a patient wanting surgery for all the wrong reasons can be disastrous.
If you could go back in time, what business advice would you give to a younger version of yourself?
The number one thing with business is to have trusted my gut, especially before hiring employees. Obviously plastic surgery involves a lot more than that but running the business side of things is a different matter. Some people are better than that others and it does require discipline in order to bypass your cerebral side. As with any business, having a passion for your work is a must for success but it is not the only thing. It is akin to just looking at your feet when you walk. Having a clearly defined long-term goal is akin to also seeing the horizon-this requires disciplined work habits and structure which I wish I learned earlier on in my career.