Goal Setting For A New Office And Old Office

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Photo: www.collierbiz.com

We recently received this email from a new eye doctor:  We applaud her for asking this important question as a budding entrepreneur.

I recently opened my private practice and I having a tough time setting production goals for myself and team members. Do you have any suggestions on how to go about this?’

Setting up goals is important for any business, the reason why- if you write down and track, statistics show, you are much more likely to meet your goals.

In the case of a new business and old business, we recommend a process called Open Book Management. Open book management is a management process in which key information is shared with employees to help them do their job more successfully and effectively. Information such as  revenue, profit, cost of goods, cash flow and expenses.

When employees understand numbers, they are more likely to work as a team to achieve results. I know of one very successful eye doc, who opened cold and every week at the staff meeting numbers were discussed. When certain key numbers were reached, staff were rewarded with days off, no work on Saturdays, trips to Vision Expo and other trade events. The staff loved it, they felt they were valuable and trusted and believe me, everyone worked to achieve the goals.

It is difficult to set goals especially your first year in practice, as you have nothing to ‘relate to”  or benchmark. As you start tracking and benchmarking, it will become easier to set goals for you and your staff.
We recommend is to take your overhead, including rent salaries etc. and determine what you need to bring in to pay bills or your break even point.
That is presented to staff at monthly staff meeting.
Example:
We need $10,000 month in gross or net sales to break even. To do that based upon average sale: the reception needs to book 20 appointments, the Contact lens person needs to sell 10 contact lens and our average frame/lens sale should be $$$. This way everyone is working together to become and stay profitable.
After you have reached your break even point, then rewards and goals are set on growing the business.
Some Production Goals to track:
  1. Appointments-
  2. Contact Lens Sales
  3. Eyewear Sales
  4. 2nd Pair Sales
  5. Add On Sales, Scratch coat, UV, AR, Mirror, Tints
  6. Sunglass Sales
  7. Premium Lens Sales
  8. Accessory: Cases, contact lens solutions, eyewear retainers, clip ons, magnifiers
  9. Any other products or or services you provide
  10. If you have an in house edger, you might track re-dos. (costly)
The key is tracking and rewarding. Fortunately there is software that is available from The Edge to help make this easier to do. Just a click of a mouse.
For any new and old office you have tons of FREE resources available to help grow your business.
There are also various Forums on Facebook. These forum are private and have to be due to the content.
  • Alan Glazier has a wonderful OD’s on Facebook forum in which many questions are answered.
  • California Optometric Association has a New OD forum 
  • OptiBoard, one of our top sources has opticians, optometrists and even ophthalmologist who have their questions answered.
  • Linked in has quite a few forums for eyecare professionals.
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2 COMMENTS

  1. Cathy,

    Thank you for writing an article on the topic. I have started breaking down the numbers for my team members to digest. My goal is to present all the info to them in about 2-3 weeks.

  2. That is great news, I think your staff will be interested to hear what you have to say and take a more active involvement.

Comments are closed.