Using the Business Model Canvas for Optometry Practices

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The Business Model Canvas is a strategic tool used by businesses to visualize, design, and develop their business model. In 2005, a Swiss business theorist Alexander Osterwalder proposed a simple and straightforward technique for drafting a business plan. Called the ‘business model canvas,’ the concept was formalized in his book, Business Model Generation, published in 2010.  

What is the Canvas?

The business model canvas is a one-page planning tool. It consists of nine boxes, each representing one of the core elements of a business.

Optometrists can use the business model canvas as a sheet for brainstorming new ideas for their practice.

The Nine Components

The nine elements of the business model canvas are as follows:

  1. Customer segments – Define your target audience. Who are your most important customers? What are they attracts these customers to your office?
  2. Value propositions – What problem are you solving for your customer? Your unique solutions or the ‘value’ you hope to deliver to the customer segments.
  3. Communication channels – The different modes of communication to interact with your customers.
  4. Customer relationships – How strong is your relationships with your customers?
  5. Revenue streams – The different sources of income for your practice. Does your company have multiple methods of generating revenue? What is the pricing strategy for the products and how do you offer customers to pay for products?
  6. Key resources – these are the main assets and other supplies you require in order to fulfill your value propositions.
  7. Key activities – What specific key activities are necessary to deliver your value proposition? What differentiates you from others? What services do you provide?
  8. Key partnerships –Identify your company’s key partners. This can consist of important suppliers? What resources and duties does the company receive from these partners?
  9. Cost structure – What are major drivers of cost? Fixed vs variable.

Here is a sample of a Business Model Canvas.

Beyond the Podium: Thought Leadership in Optometry is Evolving

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A thought leader is an expert in their field who is actively engaged in promoting their ideas and sharing their knowledge with others. They are often seen as a change-maker or thought- provoking individual, and their aim is to influence and inspire others. They have a vision of what optometry is supposed to be, not what is dictated by others in the industry.

In order to become a thought leader, it is not enough to simply be an expert in your field. You must also be proactive in sharing your ideas and engaging with others. This can be done through writing articles or blogs, giving talks or presentations, or using social media. In the past thought leaders we ODs that lectured at conferences and had busy practices. With the rise of social media this has changed. Different voices are now able to be amplified. Thought leaders aren’t selected by optometry magazines, pharma boards ,companies or conferences anymore. Thought leaders are created from changing the norm and utilizing the different platforms they have to provide a different perspective. Corporate ODs have been underrepresented in the past. Now is the time to seek opportunity to amplify their voice in the industry. Different voices help our industry grow.

However, becoming a thought leader is not without its challenges. It takes time, effort, and dedication. And, once you have established yourself as a thought leader, there is a certain amount of responsibility that comes with it.

Are you up for the challenge? Here are some ways ODs have become thought leaders over the last 10 years.

1. Develop your expertise: To become a thought leader, you need to have in-depth knowledge and expertise in your field. This means staying up-to-date on the latest research, trends, and technologies in optometry. Attend conferences, seminars, and webinars. Read industry publications like Vision Monday and network with other professionals in the field; whether in person or on Facebook groups.

2. Create a platform: Establish a platform for yourself where you can share your ideas and thoughts. This can be in the form of a blog, a podcast, or social media. Create content that is informative, engaging, and provides value to your audience. Don’t be afraid of thinking outside the box and talking about things that others don’t.

3. Network: Networking is a crucial part of becoming a thought leader. Attend events, conferences, and seminars to connect with other professionals in the field. Meeting people face to face has a lot of meaning. You have to attend all the major conferences and add value to those conferences, whether it be cocktail hours, dinners, panel discussions, Facebook live events and podium time. Engage with others online through social media, LinkedIn groups, and forums.

4. Engage with your audience: Engage with your audience by responding to comments, questions, and feedback. Start a conversation and get people talking about your ideas. Encourage debate and be open to different opinions and perspectives. Thought leaders interact with other industry professionals throughout the year, not just at conferences. When you have other ODs asking you your thoughts on topics in optometry and breaking news, you have become a Key Opinion Leader.

5. Be authentic: A thought leader is not someone who pretends to know it all. Be authentic and transparent with your audience. Admit when you don’t know something and be willing to learn. Optometry is an evolving profession, leaders are readers. The more you continue to learn the better you will become and continue to evolve as a thought leader.

6. Seek out opportunities: Look for opportunities to speak at conferences, contribute to publications,provide content on social media and participate in webinars. Use your platform to promote your expertise and showcase your skills. Content is key! The more content you develop the more recognition you will get on the area you are looking to break into. Thought leaders seek out opportunities for exposure, it is never about the money but for the purpose.

7. Be consistent: Consistency is key when it comes to building a following and establishing yourself as a thought leader. It takes time and effort to build a reputation, so be patient and keep working at it. If your competitor is providing 1 content a week look to do 3x-5x more content per week. Over time content development will become part of your routine and won’t take up as much time as it did before.

Becoming a thought leader in optometry is not an easy task, but with dedication, hard work, and a passion for the field, it is achievable. As you establish yourself as a leader, remember to always be humble, open to learning, and eager to share your expertise with others.

The Power of Rejection: How Entrepreneurs Turn No Into Yes

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Rejection is something that we all face at some point in our lives. Whether it’s in our personal or professional lives, rejection is an unavoidable part of the human experience.

For entrepreneurs, rejection is a part of the journey. In fact, some of the most successful entrepreneurs have faced more rejection than anyone else. The key is to use rejection to your advantage and learn from it.

In this article, we’ll explore the power of rejection and how entrepreneurs can use it to their advantage. We’ll also look at the importance of a positive mindset and how it can help you overcome the fear of rejection.

1. Embrace rejection as a learning experience

One of the most important things you can do as an entrepreneur is to embrace rejection as a learning experience. If you can learn from rejection, it can become a powerful tool in your entrepreneurial journey. For example, if a potential investor rejects your business idea, ask for feedback and learn from their perspective. Use their feedback to refine your idea and make it stronger.

2. Don’t take it personally

It’s natural to feel disappointed or frustrated when you face rejection, but it’s important not to take it personally. Remember, rejection is not a reflection of your worth or ability. It simply means that the opportunity wasn’t the right fit for you at that time. Keep that in mind and move forward with a positive attitude.

3. Cultivate a growth mindset

A growth mindset is a powerful tool in overcoming rejection. Instead of seeing rejection as a failure, see it as an opportunity to learn and grow. Believe that your abilities can be developed through hard work and dedication, and that challenges help you reach your potential. Cultivate a growth mindset to help you overcome the fear of rejection and thrive as an entrepreneur.

4. Develop resilience

Resilience is the ability to bounce back from setbacks and continue moving forward. As an entrepreneur, you will face many setbacks and rejections, but resilience will help you stay motivated and focused on your goals. Develop resilience by focusing on your strengths, setting achievable goals, and building a support network of people who believe in you.

5. Stay persistent Persistence is key to success as an entrepreneur. Don’t let rejection discourage you or make you give up on your dreams. Keep pushing forward, even when it feels like the odds are against you. Remember that every successful entrepreneur has faced rejection at some point, and persistence is what separates the successful from the unsuccessful. In conclusion, rejection is a part of the entrepreneurial journey. However, by embracing rejection as a learning experience, cultivating a growth mindset, developing resilience, and staying persistent, you can use rejection to your advantage and achieve your goals. Remember, rejection is not a reflection of your worth, but rather an opportunity to grow and improve.

ODs want Executives in Optical Stores.

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In recent news,  Starbucks’ new CEO Laxman Narasimhan says he plans to work once a month in one of the company’s stores in an effort to stay close to its culture and customers. He claims that it will help him understand the business by immersing himself in every part of the business.  Many times CEO’s are out of touch on what is going on at the store levels, this includes the optical industry.  As a leader in the organization, they come up with a strategic plan and make decisions on what might be best direction for the company for that time. Hindsight is always 20/20! Many optical leaders are result driven and are nearsighted about decisions that might bring positive numbers now but bigger losses in the future.

Recently, I posted a poll in the Corporate Optometry Facebook group and  I asked,

“Do you think that Executives in Optical should work in stores on a regular basis?”

66% of  Corporate ODs stated YES, they think that upper management should work in the stores. This would provide  realistic expectations on goals created and help upper management understand the customer experience, and employee work culture. Working with the OD on that side of the business would help gain awareness on struggles that ODs face on a daily basis. Working the hours of operations that many do til 7pm or 8pm and weekends, to immerse themselves in this burnout culture that has been created to meet goals.  Eye Care Directors should spend a day leading by example seeing 4 or more patients an hour or doing telemed exams. Having them illustrate policies and procedures that have been created as sales tactics and marketing materials that are out dated.  Getting to know employees and ODs at a personal level will create employee engagement, satisfaction and reduce turnover.

The most alarming stat from the survey was that 28% of the responses stated that they didn’t think the executives could handle working in the stores.  This illustrates that many don’t have confidence in leadership competence, and that expectations are unrealistic. Leadership is so far removed from the ground truth.  

Exercising this idea as an active “role playing” in an organization. This type of leadership can be viewed as servant leadership. This style is based on leaders serving the greater good of the team and organization, than personal growth. With time, it would create new culture in companies and cultivate new ideas for programs to improve customer service, building trust, employee engagement and satisfaction. Image the change our industry could have and evolve if executives rolled up their sleeves and experienced the daily struggles that staff and ODs have!

My Experience with Maternity Leave in Corporate Optometry

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It can be hard to maneuver maternity leaves in optometry clinics, especially the first time around. Both times I took my maternity leave, I was working in a corporate optical. It was my 4th year of practicing optometry, and I felt as though I had plenty to prove. My first maternity leave I was an employee and my second I was a sublease owner and each experience was different.

50 Work Hours a Week

My career path didn’t start out in corporate optometry, really started after I had gotten married and my husband and I were looking to start a family. I had always worked 50 hours a week between different private practices and did some fill in work for corporate opticals. At that time may private practices were not offering full time with benefits. I had chosen to take a full time employed position in corporate optometry because of the security and benefits. I always kept a part time or fill in job for additional income. During the pregnancy I never took any sick time and didn’t complain about being tired or use it as an excuse. When the baby arrived, I had high expectations from myself. I felt as though any sort of perceived failure was not even an option for me. I had continued with the same work ethic as before, but had a new realization of how the hours of operation and the responsibilities that came with the position might not fit with a new born. My husband and I had to work like a team more than ever! It was great to be able to take the time in the morning and prepare for the day. My corporate job started at 10am and gave me plenty of time to drop her off at daycare. In the afternoons my husband would pick her up. The corporate optical was accommodating to my pumping schedule because they had to to be by law, but anything to do with daycare closures or leaving earlier was not accommodated for.

Life does not have a clear roadmap.

Unfortunately, because I was so focused new role as Mom and responsibilities at work, I didn’t account for what was ahead. I have always been a planner, but with a child anything can pop up. I would plan meals and sleeping schedules etc ahead of time. I would work certain days that my husband was off so we didn’t have to put our child in daycare. Many times that meant making the sacrifice to work Sundays in a corporate optical to be able not put our child an extra day in daycare. I was multitasking more then ever at that time in my career. I was determined to not slow down!

New Sublease Opportunity.

While working as an employee in corporate optometry, I started to get confidence in myself and my business skills. I was able to observe optical staff and learn the business aspects of optometry. When that job finally ran its course, I knew it was time to move on and explore the next stage of my career. I always wanted to be a business owner. I was nervous to start my new sublease, knowing that I was going to have another baby in 7 months. When I signed my sublease agreement, it was my little secret that I was pregnant with my 2nd daughter. I honestly believe that if I told the recruiter and regional manager that I was pregnant during my interview, that I would never had gotten the sublease. I had heard stories in the past about female ODs about having their leases terminated when being pregnant and after maternity leave. Unfortunately in corporate optometry many decision makers of a brand are men. They have predisposed notices of young females moms and being a business owner. Many times females are held back to new opportunities because many hiring managers think that females already have to much on their plates to take on an additional task or higher position.

With my second child, I worked up to the day before giving birth. As a sublease owner, I was responsible for finding OD coverage during my maternity leave. With such a large network within this corporate brand, one would think that there would be support with recruiting and helping another sublease OD out. I had reached out multiple times a week to my regional manager to discuss coverage and other business topics, to just be sent to voicemail with no reply back. I had sent numerous emails as well with no response. After months of searching, I finally got another sublease OD to fill in. As a business owner paying an OD to sit there is not the best business strategy. Be mindful as a sublease owner to not loss money paying an OD to sit there just to have hours of coverage. Negotiate hours during maternity leave. I had a C section on my 2nd child and doctor’s recommendation was to take 8 weeks off to heal. After 1 week of maternity leave, I was getting calls 1-2 times as week from my regional manager about when I was scheduled to come back. Those phone calls continued til I came back at 8 weeks, and I did have coverage and it was the slow time of the year in the industry. During my maternity, I would get numerous emails from the regional manager about business topics on my sublease and optical store.

Balancing Work and Life

I immediately headed back to work after my maternity leave doing my regular schedule and took on a second sublease as well. I actually had the happiest time of my career during the early years of my sublease and as a new mom. Everything was new and exciting. I was able to spend plenty of time with my children, and was growing a small business. I look at my business as my 3rd child. I have grown that small business into a 3 location business and never even looked back!

Corporate optometry has its pros and cons. It might be a good place to start a female or not depending on your situation. For me I knew what the goal was in my career and found a way to utilize my time to be able to have a small business when my children needed me the most, and be able to plan out my career to have multiple subleases and different businesses. All those seeds were planted when I gave birth to my 2nd child. I knew exactly where I wanted to go and I gave my “3rd child” all the love and dedication that it needed to flourish and grow up to be a strong passive income business!

Taking the time and planning it out properly can allow you to focus on your family as well as your work. It shouldn’t be an either/or thing but rather a focus on balancing everything together

Overcoming Optometrist Burnout in the Midst of Great Resignation

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Burnout refers to a state of prolonged tension that affects your physical, emotional, and cognitive well-being.  After the coronavirus outbreak, the working environment has drastically changed for optometrists all over the world.

If you find yourself constantly stressed, you may be experiencing signs of an optometrist burnout without realizing it. The good news is that once you identify it, you can immediately adopt measures to overcome it.

Symptoms of Burnout

Do you feel exhausted and irritable despite getting sufficient rest every day? A burnout can take a toll on your mental, physical and emotional health. The symptoms can be broadly categorized into behavioral and physical signs.

1.      Behavioral Signs

If you are suffering from burnout, you may feel demotivated at work. You may not feel like coming to work on time or skip it altogether on some days. There is also a tendency to procrastinate due to difficulty in concentrating on tasks.

You may find yourself resorting to unhealthy coping mechanisms, such as consuming alcohol, drugs, or excessive eating. It is common to vent out your frustration to other people, such as coworkers or family members.

2.      Physical Signs

A burnout can leave you feeling physically and mentally drained. No matter how many hours of sleep you receive, this tiredness is not likely to go away.

Burnout also drags down your immunity, possibly resulting in frequent illness. You may also experience mild symptoms such as headache, muscle ache, or back pain. Due to stress, you may go through a change in your appetite and sleep routine as well.

Tips to Deal with Optometrist Burnout

The outbreak of the pandemic has slowed down business activity and compelled many professionals to work from home. A global change in lifestyles includes adhering to COVID-19 precautions and limiting human interaction.

The very definition of ‘normal’ has transformed, triggering different emotional and physical responses among optometrists. Here are three simple tips to overcome optometrist burnout during COVID-19.

1. Break the Monotony

Work is probably not the same when you have to practice social distancing and wear a mask all the time. Performing the same tasks each day with added restrictions may get monotonous and boring.

Find ways to make work more interesting by adding variations to your daily routine. Try learning a new skill in optometry to fill the dull gaps in the day with an engaging activity. You can also work on introducing a special service for your clients or adding a new testing procedure to your eye care facility.

Another rewarding idea is to get in touch with the optometry community. Take part in online conferences to get inspired by new ideas or engage in discussions with other optometrists to discuss future developments in the field.

2. Reduce Sources of Stress

Ask yourself what’s bothering you the most. One of the most effective ways to recover from burnout is to reduce stress at the source.

Perhaps, you are perturbed by several roadblocks in the workflow. There may be menial administrative tasks, maintenance issues, and unpaid insurance claims holding you down. Try to get these worries out of the way and focus on aspects more relevant to your optometry practice.

Decrease the administrative load by delegating responsibilities to your staff members. If you work in partnership with another optometrist, hold regular meetings to resolve issues before they multiply.

3. Work Out

Physical exercise may not initially seem like a good idea when you are going through pandemic fatigue, but it can do wonders to improve your mood.

Spare some time for a work out every day and notice a positive change in your physical and emotional well-being. You don’t necessarily have to go to the gym for exercise.

Try simple exercises at your optometry practice during breaks, or take a walk around the block during down time. Engaging in easy exercises is a rewarding way to utilize your time if you are experiencing a plunge in business activity due to the pandemic.

COVID-19 is a global health crisis that has negatively affected economies worldwide. If you find yourself overstressed, you may very well be a victim of an optometrist burnout. Small changes to your daily routine can help you combat pandemic fatigue and boost your health and mood.

4 Qualities of a Successful Partner in Optometry

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Group practices are becoming increasingly common in the field of optometry. More and more ODs are offering new doctors buy-in partnership opportunities to grow the practice with mutual collaboration. However, if done without proper examination and careful forethought, offering immediate partnership status can have devastating consequences for your practice. This article discusses the essential qualities of a successful partner that you need to look for before entering into the agreement.

4 Qualities of a Successful Partner

For the partnership to open up new avenues and provide growth opportunities for the practice, the new doctor must have:

1. A Proven Record of Clinical Productivity

Once they enter into practice partnership, doctors usually expect an increase in their income. This cannot always happen unless the new doctor puts in due hard work for ensuring growth and improving business profitability. This, in turn, requires them to be a competent worker and demonstrate their productivity in the clinic. Your potential partner must have a strong work ethic, possess entrepreneurial grit, and be self-motivated in helping the practice grow.

2. A Strong Rapport with Other Doctors and Staff

No practice can succeed without the joint support of the entire team. The ability to build strong relationships with the clinic staff is one of the most essential qualities of a successful partner you need to watch out for. The understanding goes both ways. The new doctor must be as comfortable working with the team as the team is with them. Make sure that everyone starts on the right foot and establish good relationships right from the beginning. If there is any discord between the members, you must deal with it immediately; otherwise, it can culminate into bigger problems for your practice.

3. Excellent Understanding with Patients

Clinical and managerial skills are important for an eye doctor who wishes to run their practice successfully. However, these skills will be of little benefit if you are unable to maintain patient satisfaction. Therefore, before you consider entering into a partnership, make sure that the new doctor is able to provide a high level of patient satisfaction. It can help to conduct a survey among their patients as they can provide proper feedback on the care they received. You should also communicate with other team members to determine whether patients are comfortable with the new doctor or wish to switch to another eye care provider.

4. A Knack for Marketing and Administrative Duties

When welcoming a new doctor on board, you should expect your income to decrease – unless the new member helps increase practice profitability. It may be just a short-term effect, or it can become a lasting problem. It mostly depends on how well you can promote your practice and maintain a steady influx of patients. Put simply, the new doctor must also play their part in building the business by marketing the practice, using referrals, enhancing the procedure, and employing other tactics to ensure sustained growth. The general rule of thumb is that partners should dedicate a minimum of eight to ten hours per week to the marketing and managerial work.

If you want to achieve stability and maintain profitability for your practice, it’s essential to ensure that the new doctor meets the criteria for a successful partnership.

Being an Underdog: Benefits and How to Accomplish Bigger Achievements

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Being an underdog often seems like an insult. The ones who label others as underdogs also mean it as
an insult. However, being an underdog isn’t as bad it seems. It has quite a few advantages if one plays
their cards right.
For starters, they can avoid being in the spotlight all the time, hence, avoiding potential scrutiny.
Furthermore, it rids people from unwanted anxiety and pressure to be the best. Not that you shouldn’t
be the best, but focusing on your goals in silence and behind closed doors is much better than everyone
watching your every move.
Let’s analyze a few benefits of being an underdog.


Every Chance Is an Opportunity
It’ll surely sting when people don’t think you can do much, but you can achieve plenty if you focus on
the bigger picture. For example, if there’s a position in the employee engagement department, and
you’re generally not considered very people-friendly, use this opportunity to prove them otherwise.
Take up the job and amaze everyone with how capable you are. You can prove to your boss that you
were the right candidate all along. This will open up other prospects for you as well.


All Tricks Lie in Your Cards
Depending on you play your cards, you can come out on top. When people don’t have high expectations
from you, you can throw them off with the “wow factor.” The wow factor is when people underestimate
you, and you turnaround and amaze them with your capabilities. It leaves their jaws dropped and makes
them realize they were wrong to underestimate you. Playing your cards right is all about the right
timing. When you see the perfect opportunity, slip right in, do your thing, and no one will ever call you
an underdog ever again.


‘Wow’ People With Your Creativity
People might think you’re an underdog, but you know who you are; that is anything but. Hence, if you’re
tired of being known as the underdog, simply shut people up by showing them how creatively innovative
you are. If there’s a specific project at work that has people mind-boggled, offer your sharp strategic
skills, and become the helping hand nobody else could. The more you prove your skills to people, the
sooner they’ll realize how brilliant you actually are.

Risk Takers Are Prize Takers
The more risks you take, the bigger the jackpot you can –simple. If you always stay in your comfort zone,
you’ll only achieve the ordinary, something everyone’s achieving. So, what makes you different;
extraordinary? Do something that others are afraid of. Take a big risk by pursuing something you never
have. For example, if your company has welcomed many new investors and is looking for the perfect
candidate to cater to them, be that person. It’s risky because if any of these investors are unhappy, it’ll
be a problem for you. But, if you manage to do the opposite, imagine how well-reputed you’ll become.
You know what they say, “the greater the risk, the greater the reward.”

5 Reasons Why a Corporate Optometry Sublease Might be the Best Option During Recession

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Subleasing space in corporate optometry might be the best option during a recession. Subleasing can come with particular challenges, but much less risk than starting a private practice cold during a recession. Subleasing starting costs are much less than starting a new practice.

A successful optometry clinic is about finding a suitable location that attracts patents, analyzing competition, and ensuring you’re doing what it takes to thrive in the healthcare sector. The last few years haven’t been ideal, considering the high unemployment rate and COVID-19. However, subleasing space might be best option during a recession.

Let’s explore why subleasing in a recession might be best option.

1. Available Resources

When a recession hits the economy, it might become challenging in many ways. However, if you look closely, you’ll find more resources than ever. Resources that provided from corporate to help you succeed. Many times corporate has data to forecast economic changes and provide a game plan to help your sublease.

2. Less Competition

Some experts say recession might be the best time to sublease your corporate optometry, as there’s almost no competition during the economic downturn. Operating during a recession can help you get a competitive edge and make arranging funding more accessible. Since covid, some offices have closed down and we will see more closure during a recession. Finding a sublease that has been established and working between 2 might be the best option.

3. Inflation

Prices will go up during an inflation. Many corporate optometry subleases have kept OD’s rent the same. We will start to see more patients come into retail locations as they look for more affordable healthcare. The volume will help you grow during a recession. A recession is undoubtedly not the best economic situation, but if you’re clever, you’ll manage to make the best use of recession.

4. More Motivation

Every optometrist aims have their own practice, which brings them the required motivation to start their clinic. Knowing a recession is here, might be the motivation to work harder and continue to strive to succeed.

5. Reduce Unemployment

Many people lose their jobs and actively seek employment when a recession hits. When you begin subleasing your optometry clinic, you’ll need valuable people to help you run your business effectively. You’ll get a chance to improve the economy’s situation by providing work to unemployed people.

The more people earn, the more stable the economy will eventually become. Hence, unemployed individuals find jobs, and you get a team of hard workers who run day-to-day tasks effectively and handle patient care. Again, a win-win.

5 Essential Business Planning Tips That Can Help Optometrists Survive a Recession.

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Various small businesses could be severely hit by a recession. Proper planning is the key to long-term business success. And it becomes all the more important in the face of uncertain circumstances such as the ones we are facing currently.

Here are five essential business planning tips that every optometrist must follow if they wish to power through a recession and ensure sustained growth in the coming year.

1. Think Strategically

There are several strategic approaches that optometrists can benefit from. Strategic thinking is what helps you succeed in a competitive market. Businesses that don’t have a strategic plan in place are bound to have a hard time in fulfilling their short term as well as long term goals.

Take time to think about your business’s vision and mission. What is your unique selling proposition? How do your products and services differ from those of your competitors? Do you do any specialty care?

Focus on aspects that will prompt customers to choose your services over the alternative options.

2. Don’t Skip Marketing

Your revenues may be down these days, but that’s no reason to skip marketing. Marketing plays a key role in keeping your business in the public eye. You can cut down on the marketing budget if you want. But don’t forgo it altogether.

Identify the channels that can bring in the maximum customers and run your marketing campaigns on those platforms only. Staying active on social media is a great way to connect with your audience, so don’t forget to leverage that.

3. Form Alliances

One of the most strategic business planning tips in today’s economy is to form alliances. Collaborating with other optometry businesses operating both locally and other medical professionals can help you gain access to new streams of income. It can enable you to identify and exploit opportunities that still exist in an otherwise halted economy.

4. Sort Out Your Finances

Finances are the core element that determine the viability of your business plan. Make sure that you always have sufficient capital at hand for debt servicing, asset acquisition, business expansion, and the likes.

In addition to the current expenses, think about other costs you may incur down the lane.

5. Structure Your Workforce

You need to think about the future implications on your business in regards to your staff.

Will those employees be willing to rejoin when your business gains momentum again if you cut their hours? Do you want them to rejoin or wish to hire new workers instead? What are the skills you will need to keep your business running in a changing economy?

If you plan to hire new employees, make sure you have capital available for any training that may be required.

End Note

No one plans to fail; they fail to plan. So, follow these business planning tips to help your optometry business not just survive, but thrive regardless of how the economy may be performing.