WHEN SHOULD YOU BUSINESS PLAN? THE ANSWER IS ALWAYS “NOW”

EACH YEAR, SO MANY business books are published that it can be “a bit overwhelming to sort through them all,” writes Catherine Clifford on CNBC.com .* Whether it’s topics such as “adaptive markets” or “donut economics,” it’s clear that the business environment is continuously evolving. . . and, there is no “one” correct way to succeed. But there is a time for planning — now.

POWER TOOLS FOR YOUR PRACTICE

To help provide a clear direction, OM’s annual issue on business planning offers proven business tools, helping you to reach top performance for your practice, your patients, your staff and you. For example, in “How to Improve Practice Revenue” (p.20), Chief Optometric Editor Scot Morris, O.D., describes key performance indicators that impact revenue and customer service.

In the article, “Manage Your Finances to Achieve Your End Goal” (p.18), author Chad Fleming, O.D., reminds us that, at any age, we must “be intentional about understanding who you are and what you really want. . .” His article includes tips on the “end goal” (retirement) that begin as early as post-graduation.

Similarly, the sale of a practice is an event that must be planned years ahead of the anticipated sale date. In “Maximize Your Practice’s Price Tag” (p.14), a panel of experts — Jay Binkowitz and Drs. Scot Morris, Ben Gaddie, Alan Glazier and Brian Kane — provide a step-by-step five-year plan for “getting a great price for the practice you’ve poured all your blood, sweat and tears into.”

Of course, there’s much more “planning” advice in this issue that we hope you’ll find of value, including ideas on how to reward your staff during the holidays (“Personnel Pointers,” by Trudi Charest, on p.50).

A HOLIDAY WISH

Speaking of the holidays: On behalf of the entire staff at OM, we wish you and your loved ones the best during this holiday season. We thank you for your support and look forward to a rewarding 2018! OM

*For a list of top business books chosen by several of OM’s practice management experts, see “Leading Off” (p.10).