It is no secret that managing a small business means being exposed to different risks and challenges. Your patience, problem-solving skills, and ability to adapt will all be continuously tested. According to the Australian Small Business and Family Enterprise Ombudsman, Australia is a nation of small businesses and family enterprises. We have a very strong entrepreneurial spirit, and it is no wonder that 21,856 new businesses registered as of September 2020, bringing the total number of companies registered to 2.8 million! Our number of small businesses keeps on growing and growing, which also hints on our resilience to these said small business challenges.
As an independent optical business owner, you may be experiencing some already. If you are an aspiring optometrist and is considering launching your own practice or may either be planning to take over an established store, it is best to come prepared. Let us get to know what these challenges are plus get a few tips on how to handle them.
Finding the right time to launch.
When is the proper timing to start a business? Small business owners are known for their bullish attitude towards grabbing the opportunity to launch their business more so if they know that their concept has a unique value proposition. This is what you call innovation. A good example is Apple, Inc. Steve Jobs and his co-founders did not wait for the so-called correct timing. They seized the moment and launched with the belief that their product is different and will be better compared to the ones being produced by top competitors back then. Fifty years later, Apple is still one of the world's leading tech companies with a market value of $2 Trillion USD. Apple did not only showcase innovation, but they also created a whole new market of people who are after computers, phones, tablets, and other smart devices that are of premium design and quality despite being quite pricey.
You may be thinking: how can I project innovation when I am just after being like any other optical store out there? You don’t have to be Steve Jobs to know that innovation can take the form of a unique way to provide customer care, after-sales, doing marketing, and even conducting eye tests. Brainstorm with your team and come up with a list of how to offer exceptional eye care to your customers.
Fostering ideas and vision sharing within the business.
This is going to be an issue if you are someone who distances himself from his staff. Make sure to cultivate a culture of sharing, listening, and caring amongst your team. This measure is especially helpful in communicating thoughts and ideas on how to effectively run the business, make it thrive, and grow. It is your role to provide an open channel where everyone is free to offer suggestions. It is also your role to listen and to act on these remarks from your employees.
Through open communication with your team, you can share your vision of the business. You all get to reach for your goals together through teamwork.
Marketing to potential customers.
Majority of optical business owners are optometrists and although we may understand a thing or two about social media and websites, there are still more to marketing these days that are quite confusing and overwhelming. It is easy to back down and settle for what we know, but there is also no stopping you from learning new hacks on how to promote your practice. There are many tools that you can use. Sure, you can read more about them online but amidst all that you think you should do to market, never miss to study your target customers. This is what you call the different buyer personas.
You need to study their characteristics, their behaviour, the type of products and services that they want, the type of messages that appeal to them, and how these messages can be delivered. You need to match your marketing efforts to the different buyer personas that your business will cater to. HubSpot, a marketing software, defines it more for you when you click on this link.
Practical tools that can help you manage the business efficiently.
If you are spending 2 hours for a task that can be done in minutes or is swamped by your to-do list, don’t you think using an all-around tool for your practice is better? Your time is precious as you are needed in the different areas of your business, by other people, not to mention that you also have to allocate time for decision-making and planning. How can you free up your day when everything and everyone seems to depend on you?
Using a total practice management solution like Ocelot+ is the answer. It is designed and built for optical businesses by a team who have been in the independent optometry sector for over 35 years, carrying with them an in-depth knowledge of how to run an optical business. Ocelot+ is an all-in-one platform that helps manage your staff, patient records, marketing, and inventory. Know more about Ocelot+ here.
