Veros Dental

One of my favorite business books is Jack Stack’s The Great Game of Business.  How much do I like it?  Well we’ve based our firm’s entire management and incentive structure on the concepts illustrated in the book.  I recommend it to someone about once a week.  And I’ve probably given away 20 copies as a gift.  So I guess one could say I like it a lot!

The book explains how Mr. Stack and his management team purchased/assumed the debt of a business that was about as upside down as you it could be and turned it into a very successful enterprise using various open book management principles with his entire team – from the CEO to the janitor.  Through open book management, cash incentives, and a long term stake in the game, he was able to motivate his entire team by keeping them engaged in the process.

The open book management concept, its principles, and its required tenants to be effective are explained pretty well in the book, not to mention it’s easy to read.  It also gives very clear and appropriate examples of how Mr. Stack applied the principles within his organization.

Perhaps one of the things I like best about The Great Game of Business is that it can be applied to just about any company, no matter the industry.  Mr. Stack was in the engine-refurbishing business and had hundreds of employees.  I was introduced to the book by a former employee who had used it when he worked for a software development company for over 14 years, which began with 6 employees and by the time he left the company they had 600!  We apply the principles to our accounting and investment advising firm with much less than a hundred employees. 

I’ve thought about how The Great Game of Business would be effective in a dental practice.  It definitely is not the “norm” – to use open book management with your dental team.  But it really isn’t the “norm” in any business.  Yet there are many case studies which illustrate its effectiveness.

The Great Game of Business has actually developed a culture and brand of its own.  An annual convention is held to bring together businesses that have adopted the game.  Numerous resources, tools, and courses are available to help you develop your own game.  Check out the link above and see how you can make your business a game for your entire team, and reap the financial rewards as well.