November 2, 2020
PTS Founder and President Kyle Francis on “having a purpose”
In a recent interview with Authority Magazine, Professional Transition Strategies (PTS) Founder and President Kyle Francis spoke on having a purpose beyond just the course of your business. Francis details how working toward something more meaningful can encourage creative thinking, problem-solving and will make you come up with flexible solutions that will allow you to bounce back. Here are the key takeaways.
“Resilience is one characteristic that many successful leaders share in common, and in many cases it is the most important trait necessary to survive and thrive in today’s complex market,” the interview states. As a fledgling right out of college, one key obstacle Francis had to overcome was getting his clients to take him seriously. However, he persevered and expanded his company into what it is today with more than 100 practices for sale across the country and an average practice size of $1 million in collections.
Any business owner knows that branching out on your own comes with its own set of challenges. For Francis, that meant he “needed to learn how to fire people (specifically partners), to take responsibility for my actions, to be a better leader and how to grind” after taking the advice of “making the jump” and “not to have a backup plan” to heart.
Francis attributes the success of his company to the options provided to clients. More often than not, hiring a dental practice broker for a sale or transition is an afterthought, but Francis wanted to take a more proactive approach to his business. He started an outbound business development team, focuses heavily on marketing rather than “waiting for the phone to ring,” and advising up through the contract process to make sure both parties are satisfied in the end.
Francis shared five steps someone can take to become more resilient: (1) Don’t shy away from the hard stuff; (2) move from triage to strategy; (3) control your controllables; (4) do something bigger than yourself; and (5) action cures apathy. Francis cites family, team and purpose, in addition to giving back, as ways to keep you and your company moving in the right direction.