SCORE BIG WITH STRATEGIC PLANNING

DON’T DROP THE BALL ON PLANNING FOR SUCCESS IN 2016

Nathan Bonilla-Warford, O.D., F.A.A.O., F.C.O.V.D.

MY HIGH SCHOOL football coach taught world history and driver’s ed., and he was a great mandolin player. But what I remember most about him was that he frequently spoke in clichés, such as, “You’ve got to plan to work and work your plan.” Since becoming an optometrist, I have learned that many of these tired expressions also are applicable to optometric practice. There’s a lot of truth to the example cliché, for instance: Most successful businesses have a detailed business plan. But creating a business plan that is never implemented isn’t going to get you anywhere.

We all have heard why you should work on a strategic plan. I want to talk about ways to “take the bull by the horns” before any more “water flows under the bridge.” So as we turn to 2016, let’s look at some tried and true coaching clichés that can be used as action steps for strategic planning.

“LOOK AT THE TAPE”

Assess your 2015 plan to give you a starting point for 2016. How strong was your plan for 2015? Was it detailed enough? Were there too few or too many goals? Were the goals realistic? Were they written in a concrete way that allowed for the determination of success? In addition, how can you modify or replace these goals for 2016? To answer these questions, look at where your practice failed to meet expectations and where goals were exceeded — and figure out why.

With regard to failing to meet expectations, perhaps your practice experienced an unexpected downturn or you decided to table some goals for next year. When it comes to goals that were exceeded, determine how your staff achieved those results and whether there is room for more growth.

When you compare the strategic plan for 2015 and the profit and loss statements, what was unforeseen, and how did you react? Also, review your practice’s feedback from patients and any external and internal audits that were commissioned. What can this tell you about your practice, and how can it help guide you in the future?

“GET YOUR HEAD IN THE GAME!”

Set aside time specifically for strategic planning in an off-site spot, such as a local coffee shop, library meeting room, etc., for a few hours. I’ve found that doing this keeps my planning team (practice owners and administrators/managers who “set the course” for the business) focused without interruptions. Also, consider setting aside at least one day per quarter for planning. For solo doctors, this lost chair time can be worrisome, but be confident that planning will improve future productivity to a degree that more than makes up for the lost chair time. Additionally, staff can use this one day per quarter to catch up on work or start delayed practice projects.

“TAKE IT PLAY BY PLAY!”

When strategic planning, reassess your mission, vision and guiding principles. Every practice decision should stem from these core values. Without them, it’s like you and your team are playing blindfolded. As your practice grows, so might your purpose. So, establish this first.

Next, perform a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis. Take all the information collected, and analyze it. What is the practice exceptionally good at? What areas need improvement? What areas are ripe for growth? What areas, both internal and external, will likely present challenges?

(Many people find that sticky notes on a whiteboard or mind mapping software are helpful at this stage.)

Now, prepare your long-range plan. For this, envision your practice three years to five years in the future. While the small details vary, what do you want to work toward? Whether you want to build a larger practice, have better-trained staff or sell your practice, spelling out your long-term goals helps you avoid making decisions that move you in the wrong direction.

Finally, decide on specific goals for 2016. Use SMART (Specific, Measurable, Achievable, Results-focused and Time-bound) goals, so that when you review them for 2017, you can determine whether you succeeded. For example, “Increase revenue per exam from $345 to $380” is more helpful than “Increase revenue.” You should also include a projected budget for 2016, along with any externally mandated changes, such as license maintenance and compliance benchmarks.

“FOCUS! FOCUS! FOCUS!”

Limit your 2016 goals to a few items. Don’t fall into the trap of trying to accomplish too much at once, which results in mediocrity. For example, while adding a new specialty, such as pediatrics, and moving the office to a better location might be good ideas on their own, resist the temptation to tackle them at once. Instead, focus on a small number of areas in the short term to ensure they are done well.

“WRITE YOUR GAME PLAN”

Write at least the main elements of your strategic plan. (See “Strategic Planning Ideas,” page 27.) This acts as an outline of what you want to accomplish in 2016 to help you stay on track. Think of this as the playbook that you and your team will execute. Some people write the results from this brainstorming process in a formal one-year to five-year plan. Write it.

REMEMBER “THERE’S NO ‘I’ IN TEAM!”

Schedule an all-staff meeting to review and discuss your plan. Each team member must understand why the practice exists and its core values. This is important not only for day-to-day practice, but also because the long- and short-term goals are less likely to be meaningful to staff without such knowledge. Take, for example, a practice whose mission includes using the best diagnostic technology available. A staff member who does not know about or understand this goal might see the purchase of a new piece of equipment as a diversion, or worse, a threat to his or her view of the best patient care. Linemen can’t block if they don’t know which way the play is going.

You need to get “buy-in.” Although the practice’s vision and goals are best determined by the leadership team, implementation is best done in a setting where staff can be creative and have a say in the specific steps needed to attain these goals. Team members are empowered when they can help translate the goals into reality.

“AT THE END OF THE DAY. . .”

Now is the time to give 110%. Stick to your game plan for 2016, and you can take your practice to the next level. Now, go get ‘em! OM

NATHAN BONILLA-WARFORD, O.D., F.A.A.O., F.C.O.V.D., practices in Tampa, Fla. where he owns a family practice and pediatric-only practice. His specialties are vision therapy and orthokeratology. He is a consultant for Marco Ophthalmics. Send comments to tinyurl.com/OMcomment.