May 18, 2017

A One-million Dollar Optometry Practice In Two Simple Steps

A One-million Dollar Optometry Practice in Two Simple Steps! What does it take to own a $1M dollar practice?  There are no simple answers; this blog title is a bit of a lie.  That said, there are some universal elements required to get there, and without them, you have no chance.  Pardon the analogy, but...
Read More
April 28, 2017

Who’s Zoomin’ Who? Employee Theft Part 2

If You Missed Part 1 In the first installment on employee theft we played a game of “theft prevention t-ball.”  It doesn’t get any easier than the two tactics we addressed last time: Destroy all signature stamps and vow to never use them again Limit check writing authority to the owner(s) Should You Keep Reading...
Read More
April 20, 2017

Bald Is Beautiful

Bald is Beautiful So my partner John McDaniel made some remarks a few weeks ago in his Video Blog about my follicly challenged head. Frankly, it was quite hurtful. I thought I knew the guy better than that. But that’s fine. It’s all good. I’ve heard em all: chrome dome, baldy, milk dud, cue ball,...
Read More
March 29, 2017

Who’s Zoomin’ Who? Employee Theft Part I

“It Can’t Happen To Me” A recent discussion got me thinking about employee theft. Several interesting things came to mind but mostly I was pondering the grand naiveté and ubiquitous hubris regarding this most fundamental of business topics. To be blunt, practice owners are ignorant of the threat and have an “it can’t happen to...
Read More
March 21, 2017

The Problem With An Over-Priced Practice

How Should You Price It So you’re thinking about selling your practice. How should you price it? The higher the better, right? Well, not so fast. According to business broker Jim Stauder the value of most small businesses can usually be established in a pretty tight range (within about 10%). Setting a price too high...
Read More
March 15, 2017

Which is Better, 1 or 2?

Theory X / Theory Y There is an interesting and old theory in industrial organizational psychology that looks at the paradigm with which managers view their employees. It takes that world view and then attempts to determine if it has any appreciable impact on the performance of the employees being managed. For those interested in...
Read More
March 13, 2017

All Roads Lead to Rome

What You May Not Know About Rome The expression “all roads lead to Rome” is extremely well known. And, as such, most of my readers are well aware that at the peak of the Roman Empire it was a fairly accurate statement. Perhaps a few of you are not aware that Rome had over 55,000...
Read More
March 10, 2017

A Novel Networking Idea

Networking is an important component of your marketing plan. It is important for two reasons. It’s cheap It works Networking Is More Than Just Joining Clubs Networking seems to be either highly overvalued or undervalued by many practice owners.  It is worth doing and it does work but it isn’t the holy grail of practice...
Read More
March 8, 2017

The Power of Touch

The Real Midas Touch The power of touch is immense and yet often ignored by most owners of optical businesses.  If you sell tangible product such as frames or contact lenses you need to get people to touch them.  Why?  It increases what social psychologists call the “sense of ownership” of whatever item is being...
Read More