Blog
Blog
 
 
 
 
 
 
 
 
 
 
 
Blog
IDOC actively shares industry-focused articles, blog posts, podcasts, videos and other thought leadership with our members and other optometric practitioners. Below, you will find links to our growing library of educational materials and multi-media assets written and created by IDOC's team of seasoned industry experts.
Susan Daly | 12/1/2017
GOAL SETTING FOR INDEPENDENT OPTOMETRISTS

“Ya gotta have a goal, do ya have a goal?!” – Kit De Luca, Pretty Woman

Wise woman. While it’s never too late to begin, I do recommend, even as we focus on maximizing the potential of the Holiday season, that we also start looking to the future. Goal setting can be a constant exercise, but it is particularly useful when the team feels like they have a new beginning. In reality, there is no start or finish to time. December bleeds into January as seamlessly as May becomes June. But, January 1 has a different connotation. It feels as though all the problems, mistakes, and missed opportunities of the previous year have been somehow expunged. Let’s take advantage of this “fresh start” and energize our teams with some specific, measurable, actionable, realistic, and timely goals.

 

SPECIFIC

Option 1: We want to grow this year.

Option 2: We want to increase our annual Gross Revenue by a minimum of 5% with a stretch goal of 8%.

Option 1 is not specific enough – you are not a plant, or a child, but still, some amount of growth is implied even without striving for it. Try instead, to review your top line growth for 2017 and determine what is feasible for the New Year, bearing in mind that feasible, and easy, are two very different things. Gross Revenue growth between 3 and 5% is generally considered to be organic, and will most likely occur whether you set a goal or not due to price changes, inflation, and the naturally occurring shifts in the local population. 5% is the top of organic growth, so we can begin there at a minimum and include a stretch.

 

MEASURABLE

Option 1: Sell more high-end product.

Option 2: Increase unit sales of frames listed above $200 by 10%.

“High-end” means a lot of different things to different people. You may think a high-end frame is $400 because the wholesale cost comes out of your pocket, while your staff may receive pushback on frames listed anywhere outside the standard insurance allowance. Using numbers instead of words, ensures everyone is working off of the same definition, eliminating the opportunity for misunderstanding.

 

ACTIONABLE

Option 1: Improve practice profitability

Option 2: Opticians – reduce the remake percentage to less than 1%, Technicians – increase the number of OCT exams by 10%, Front Desk – complete at least 5 personal calls to patients weekly

When setting goals, it is important to keep your audience in mind. A part-time Optician may not have any understanding of how to improve the practice’s profitability, and even less control over it. What you can do, as the owner, is try to identify, especially after your P&L for your taxes is complete, where the hidden costs are impacting profits, and how to grow top-line revenue without increasing COGS. Then, set goals that are appropriate for each department that they can understand and meaningfully effect.

 

REALISTIC

Option 1: Increase the capture rate from 30% to 80%.

Option 2: Increase the capture rate from 30% to the industry average last year of 49%.

Setting unrealistic goals, while it may be invigorating to you, is demoralizing for the staff. Particularly, if we incentivize them around achieving our goals, what we see as rallying the troops, may actually result in the opposite effect. There is a hidden, underlying consequence to setting goals; it brings to people’s attention that they are underperforming. If we then set the expectation too high, they may just give up entirely.

 

TIMELY

Option 1: Grow the new patient exams by 10%.

Option 2: Grow new patient exams by an average of 10% each quarter through the end of the year.

You may not be able to see any new patients for the next few months as you work toward change. By setting an average goal for the year, and setting a quarterly expectation, as opposed to daily, weekly, or monthly, we allow time to consider the proper course of action. Setting a realistic time period may at first feel like you are limiting yourself, and the staff’s potential. But, people respond to structure, and reject rigidity. If we don’t know what the expectations are, we may always be falling short. Conversely, if the time period is too aggressive, we may inadvertently create a flurry of activity that has no structure.

Instead of being limiting, being S.M.A.R.T. about setting goals, will help you achieve them. When you do, celebrate the win, and set the bar a little bit higher.

‘Cuz ya gotta have a goal, do ya have a goal?!

Susan Daly
Associate Director, Optical Strategy & Development
After attending Philadelphia College of Textiles and Sciences, Susan studied branding abroad at the University of Westminster and earned her bachelor’s degree in Fashion Merchandising Management from the Fashion Institute of Technology. She spent the first part of her career working with large retailers before shifting her focus to eyewear, serving as the Regional Trainer for Solstice Sunglasses and Buyer for Cohen’s Fashion Optical. Susan started her own business in 2009 and sold it in 2016 to return to Connecticut and begin serving IDOC members as the Optical Management Consultant then Manager of Strategic Partnerships. Susan works closely with the industry’s largest and most influential frame manufacturers to provide value and service to the independent where they need it most.
 LinkedIn
Trending Blogs
 
 

2/22/2021 | Author: Amy Alvarez

Maybe you’ve experienced some unpleasant events in your practice that you didn’t have a policy to cover, or you team is large enough that you vacation policy isn’t working anymore. Maybe you have never liked you scheduling and time management policy but do not know how to go about changing it.... Read more


1/14/2021 | Author: Ximara Vega

Every year people tend to make goals for the upcoming new year. Somehow a new year inspires others to reinvent themselves in some way and like most initiatives, they lose their luster after a few weeks. I was supposed have rock hard abs like 3 years in a row. If ever... Read more


10/15/2020 | Author: Geronda Wollack

A friend of mine was out in the job market and applied for a job as a Dental Assistant. She called me for some advice around interviewing, and during our conversation, she mentioned a shocking reality. She said, "Geronda, there were a few companies that I was interested in, but the job... Read more


9/24/2020 | Author: Maddie Langston

By now, most of us are familiar with online reviews and understand their reach and influence, particularly on Google, Facebook, and Yelp. As a marketing consultant at IDOC, I work with optometry practice owners and managers to increase the number of new patients at the practice, retain... Read more


9/11/2020 | Author: Geronda Wollack

During a phone call with my favorite sister (now, let's not share this with anyone else), she shared the following sentiment with me, "I was just as excited for my kids to go back to school this year, until I realized that I have one kid staying home and doing virtual learning and the... Read more


8/13/2020 | Author: Maddie Langston

Let’s say one day after an exam and a visit in your optical, a patient reviews their experience on your Google business listing and Yelp.

The review includes many details which makes it clear to anyone reading that they visited the practice, had an exam, and worked with an optician.... Read more


8/7/2020 | Author: Ximara Vega

Take a step back and think about your business. Are you in tune with the performance of your optical? Are you achieving your desired results? If not from you, where are your patient’s purchasing their eyewear? Why? How do your offerings compare to your competition? Investigate, by... Read more


8/7/2020 | Author: Nathan Hayes

“I’m shockingly flush with cash. My checking account balance is fantastic.”

This isn’t what I expected to hear on the tail end of the most prolonged economic catastrophe of our lifetime. But many practices, after leaning out all their expenses during the... Read more


8/7/2020 | Author: Nathan Hayes

“I’m thinking of selling my practice.”

“Should I sell my practice now while prices are at all-time highs? How long does the private equity phenomenon last?”

Practice owners often focus on market trends in the pricing of practices when deciding when and whether to sell. Let me... Read more


7/17/2020 | Author: Patricia Basile

Careful frame and lens purchasing habits are needed in an unpredictable time.

Many optometric practices are experiencing a surge in eyewear purchases due to pent-up demand and the ability to... Read more

© 2020 IDOC. All Rights Reserved