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The Mindset That Can Help You Scale Your Business

Growth is exciting, but can also bring challenges. Do these things to master growth.

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THE ROLE OF THE CEO is not just to own the company or go through its financial statements at the end of the month. In fact, it extends far beyond that. CEOs are the parents of the company. They make the big decisions, they are the ones who plan for its future progress, get it out of a rut, and make adjustments to its policies as the trends change.

There comes a time in every business where its popularity starts to increase. Though this is good news for the company, it can come with its own set of challenges. It often means buying more materials, hiring more staff, or changing the entire organizational structure to match the increasing demand. This is when there’s a high tendency for the company to get startled and panic.

When this happens, a CEO has to intervene and set things in order. This can be a tough thing to do on its own because if the entire business has been set ablaze with alarm, then the smoldering fire can also reach the top.

The CEO will have to work very sagaciously here to not lose their company to the chaos. This requires a certain mindset to be able to bring things back into order. In small companies, this responsibility falls to the owner, or other designated leader, and the fundamentals remain the same. 

Engage Employees

First, the leader needs to engage each employee. They have to ask questions and listen carefully to the problems that they might be facing. This way the leader becomes well aware of the problems facing the business, and may also be given suggestions for solutions as to how to fix them.

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Get a Mentor

This is often the start of any solution. A mentor, one who specializes in business issues, is mostly there to help you jump any hurdle. They will give the CEO, or leader, advice and encouragement over how to solve problems and run their business at optimum speed. Even presidents and prime ministers have advisers who give them suggestions on how to handle obstacles and how to work towards the development of the country.

Combine Goals

Ask your employees what their goals are and then tell them the business’ goal. Ask them to evaluate how they feel they can align their goals with that of the business. This means the leader should ask employees about how they feel they can use their goals to achieve the business’ goals. For example, an employee might want responsibilities beyond their current role, so they may ask the CEO to be given the responsibility of another area of the business.

Focus on the Important Things

There will be some parts of the business that may demand greater attention from the CEO. It could be because it’s suffering or because it’s one of the most revenue generating. Whichever it is, a leader should be prepared to prioritize some aspects of the business over others.

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Dr. Maria Sampalis is the owner of Sampalis Eyecare in Warwick, RI. A practice management consultant, the founder of Corporate Optometry on Facebook and of corporateoptometrycareers.com and corporateoptometry.com. Email her at msampalis@hotmail.com.

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Don’t Do Do-It-Yourself Optometry … Do This Instead

Even the most successful DIYers know when to call in a pro — and doing so can free up their time for bigger and better things.

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I CONSIDER MYSELF A competent Do it Yourselfer, and during a recent house remodel I was determined to handle as many tasks myself as possible. My father is a retired master carpenter, and I spent countless childhood hours watching him craft pristine custom cabinetry.

Clearly, I had no reason to doubt my ability to handle some basic trim work. This was going to be easy, right? Wrong!

Similarly, while a wealth of DIY-style info is available, DIY optometry practice management is no piece of cake. The goal of running an efficient, profitable practice is not as easy as it sounds.

Perhaps the most important sign of a competent DIYer is knowing when to hire a professional. Honestly, I knew I couldn’t manage my own plumbing or wiring.

Hiring specialists to manage certain aspects of your practice can outweigh the self-satisfaction of DIYing. More often than not, the main benefit is prioritization. Here’s why:

Ten years ago, the optical dispensary comprised at least 70 percent of the overall practice revenue, while exams and services made up the remaining 30 percent. Today, with the increase in medical-model eyecare, exams and services can match or exceed dispensary revenue.

Most ODs once dedicated significant time to dispensary operation, but more time is now spent learning new equipment, interpreting test results and filling schedules with more non-optical patients. Managing inventory and lens purchasing now takes a backseat to offering other specialty medical services. Such profitable specialties are where you should be focusing your energy, rather than overseeing day-to-day dispensary management. To compound the problem, optical dispensing is becoming increasingly complicated. Patients have vision plans with specific criteria, lab networks and products, mandating that optometrists be masters in maximizing profitability and understanding plan contracts.

Delegating allows you to focus attention on next-level eyecare and promotes overall practice development. Let’s discuss a few aspects of optometry dispensary operation that benefit from less DIY and more professional management.

  • Staff training. Optical dispensary management services provide staff with professional education sessions. Performance standards are established and regular meetings held to discuss products and technologies. Incentives programs entice staff to meet sales goals.
  • Revenue cycle management. The capture, management, and collection of patient and insurance revenue as well as cash flow, audit risk and ultimately profit can be outsourced to professional firms.
  • Marketing materials and initiatives. Demographic-specific marketing programs tailored to a practice’s patients can boost sales. Collateral may include educational patient information or professional courtesy programs.
  • Third-party billing. Staff are trained to maximize plan benefits, and ODM services process all optical claims on the practice’s behalf.
  • Dispensary inventory management. DMs purchase existing inventory while transitioning to new inventory targeted to a practice’s specific patient demographics. This includes an analysis of the practice’s market showcasing competitive price structures and consumer preferences.

Enlisting professional help isn’t an admission of lack of skill, it’s the practical awareness that not everything can be accomplished on your own. So, while you may choose to keep your home remodeling efforts DIY, let experts take your optical practice to the next level. A little help never hurt anybody.

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John Marvin

Forget Opinions, Measure the Hard Facts and Data to Improve Your Business

In the end, it is the least expensive and most productive business tool in your arsenal.

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THERE’S A BUSINESS axiom that says if you want to improve something, measure it. The sheer act of quantifying an issue and then determining how to improve its outcome incrementally, will itself create improvement.

W. Edwards Deming, the father of continuous quality improvement, believed that management decisions should be made using facts and data; and that successful managers use that data to best understand customers and their ever-changing expectations of goods and services.

The contrast is making decisions based on opinion. I believe that this is done far too often by optometrists and managers in our industry and these are the reasons why:

It’s easy. What could be more comfortable than offering your opinion about patients’ preferences and behaviors? In some ways, it just makes sense. You spend all day, several days a week observing people in your practice. Naturally, your opinion is enough on which to base your decisions.

It’s popular. Everyone has an opinion. The dilemma is when team members’ views conflict with one another. Whose opinion is correct? Usually, it defaults to the person with the most authority. When this happens, you can diminish the perspective of others.

It’s cheap. Opinions are free. You don’t need to go to the expense of both time and money to gather facts and data. Why go to all of that time, effort and spend money when your opinion will do the job just fine? However, a decision based on belief and not facts can be the most expensive decision you’ve ever made.

Recently, I was working with a young optometrist to open his first practice, and as you can imagine, he was full of enthusiasm and confidence in his opinions. He had classmates that had started new practices. What could be so difficult?

Of course, he had an opinion about his location. He had already determined where he wanted to open his new office. When I pointed out some of the challenges this selection would create, he wouldn’t be dissuaded. It had everything he believed, in his opinion, that was critical to a successful location.

It was close to where he wanted to live. It was half the price of locations in areas with much higher traffic patterns, and there were no other optometrists within a five-mile area. In his opinion, this location was ideal.

I explained to him that selecting the right location is probably the most critical first step in building a successful practice. That he should consider the households in the area, the exposure that a site will provide his new office, and that is all a part of what you pay for in lease payments. Basing this decision on his opinion is an example of how expensive a wrong decision can be.

Another practice data area that is neglected is the retention of patients. We don’t measure the percentage of patients we saw a year ago that return in twelve months. Why would we? We are great at what we do, why wouldn’t they return?

After all, we sent them a postcard telling them it was time to come back for an appointment.

The office most successful at retaining patients that I know measures and reports to the team each week the percentage of recalled patients who booked an appointment. They have learned that success in this area requires a phone call to follow up on those who do not respond to their postcards, emails, and text messages. The OD/owner is proud that 87.3 percent of their recalled patients return for their annual exam and he is still working on improving this percentage.

Managing your business using facts and data is crucial. It takes the emotions, personal perspectives, and biases out of making improvements. In the end, it is the least expensive and most productive business tool in your arsenal.

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Editor's Note

Size Matters … The Bigger the Better

And addressing some other sensitive subjects you might encounter in the workplace.

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AND THE BIGGER the better as far as I’m concerned. I have no problem admitting I am a size queen. I love a BIIIIIG … survey. The more data the happier I am. So, I got a lot of pleasure out of seeing the results of our first Big Survey and wow did it provide some insight. There is a lot to unpack there and you can see everything we found starting on page 34. This is the first of many to come and I’m excited to see how this survey evolves from year to year.

The answers were of course anonymous but there is one more thing I need to say: breastfeeding or having a pregnant employee’s water break at work are not weird things employees have done. Those are natural and unavoidable. If you answered something in this vein to the question “What is the weirdest thing an employee has done at work?” perhaps you need some sensitivity training and to take a very close look at yourself. Ok, rant over.

You know what amused me in this issue? The number of people cutting their nails at work — for the record, that is weird and gross (page 70) — and that so many of you consider your best and worst habit one in the same!

Also, rarely does a Real Deal generate the sort of response this issue’s did – The Case of the Concealed Concern on page 72. I know the gun debate is a hot topic and in a magazine with as broad an audience as INVISION’s there is no way we are all going to come down on the same side of an issue, but except for one slightly over the top (and poorly written) response, all the points of view we received were measured, well-executed and logical. This one really got you thinking, so if you haven’t read it or addressed this issue in your business, I encourage you to review it and discuss.

Best wishes for your business,

Dee Carroll

EDITOR-IN-CHIEF

dee@invisionmag.com

Five Smart Tips From This Issue

1. Start a movement. Resurrect a one-off holiday celebrating opticians. (Calendar, page 20)
2. According to our Pop Quiz, 58% of you are anti-flu shot (page 71). So, be flu ready with an in-office flu kit. (Tip Sheet, page 58)
3. Want to know how to get to the root of a candidate’s strengths and weaknesses in the interview? We’ve got some ideas. (Ask INVISION, page 62)
4. Everyone loves a party… that’s how you “get to show them up” to your in-store events. (Line Time, page 66)
5. The perfect way to harness the power of the modern consumer’s self-absorption to benefit your business. (Benchmarks, page 68)

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