I am not referring to the battle of wits
between practice managers and salespeople at Vision Expo
East, nor to mid-town New York City traffic all participants
must endure, or to the battle for appropriate hotel space,
desirable restaurant reservations, or Broadway tickets. I am
referring to your battle with time management and making
effective use of your short time at the show.
If you have removed the "dead
wood" frames from your boards as I suggested in my
article last month, you can now verify that the frames that
remain are proportional to what you expect to sell during
the coming year. The next step is to plan what you need to
fill in, and begin deciding whether you want to focus on the
suppliers you are used to, or whether you want to find new
ones that are at the VEE. This is the beginning of your Expo
game plan.
Are you satisfied with the income your
practice is giving you? Some successful stores may have
traffic catering to insurance and low-end volume, while
others either attract an elegant clientele or a broader
range of customer income and fashion desires. What kind of
niche store would you like to imitate to increase your
income? Understand that while it is always easier and more
profitable to focus on enhancing your strengths, you can
usually even make your weaknesses into profit centers with a
little imagination. Targeting your interactions and booth
visits at VEE to foster these outcomes will be very valuable
indeed.
On the other hand, would you prefer to be
doing something else, including retiring? Then you may want
to increase the "curb appeal" of your practice for
as little investment as possible, so you can reap the most
profit from the sale. You may use part of your Expo visit to
look at practice upgrading and networking with others to
learn how they renovated on a budget. You may also use part
of your VEE visit networking with others who have sold their
businesses and learn from their successes or the pitfalls
they encountered.
What have you accomplished by doing all
this activity and thinking about the future of your
practice? You now know what frame types you need, and
whether you want to, and can afford to, focus on any
physical practice upgrades or not. You or your accountant
should create a written cash flow plan, so you know how much
you can probably safely spend over the months that come
after Vision Expo East. A targeted game plan, that focuses
the interactions and use of your time to effect profitable
strategies in the last three quarters of 2008, has the
potential to earn back the cost in time and money of
attending the Expo many times over. Now use the days ahead
of your trip to create that targeted plan.
Your first resource is
www.visionexpoeast.com where you can look at a total list of
exhibitors to create a floor plan for yourself, highlighting
the booths you want to visit.
Have sufficient business cards with you
so you can quickly give one to a salesperson in such a
booth, and request literature be sent so you can evaluate
the look and costs for possible remodeling in 2009. Set
appointments at the booths you want to purchase frames from.
Often reps are not as busy in the weeks before a show:
choose the frames, consistent with your planned cash flow,
in the comfort of your practice. When you make the
appointment, tell the rep that this order will only be
exercised on the VEE floor, and will be refused if shipped
before authorized.
Do this with as many of your current
frame vendors as you can. If any of them add new show items
or specials, you can modify the order to take advantage of
these new opportunities at the show: but instead of being
tempted to overbuy, you will have in front of you how you
had planned to fill your boards from this vendor in the
relative calm of your office. Remain in control and do any
modifications within the parameters of your plan.
Remember to ask the size of territory
that their sales rep covers. Is he/she easily contacted at
an 800/toll free number? Over the past 5-10 years, how many
different sales reps have covered this territory? The
answers to these questions will indicate the ease with which
you can do business with this firm.
Stick to your game plan and good luck!