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Competitive Advantage
in Action: Conclusion |
This short series has addressed the term Competitive Advantage, which seems in itself a self-explanatory term. We must, however, look a bit deeper in an attempt to not only survive in the turbulent health care marketplace, but to continue to grow our practices and businesses.
In an attempt to provide examples of selected individuals who are succeeding, I asked a series of questions to folks I knew personally who are positive examples, or were nominated from the online community of Opticians and Optometrists,
www.Optiboard.com. I encourage you to go back and to review those articles (at
www.ecpmag.com) from the last few months to see how four outstanding professionals not only survive, but excel as independents in this crazy eye care world of corporate megastores and other strong competitors.
I asked a series of questions to each of these folks, and got answers that were similar in some instances, but far different in others. The list of questions is as follows:
Provide the reader with a bit of your personal background, including your education, training and professional history.
This question provided some of the responses one would expect. All of these outstanding professionals are from licensed states; not by design, it just seemed to work out that way. One, John Bruening, was educated at Hillsborough Community College’s outstanding Opticianry program, while the others trained via apprenticeship. They all have a similar love for the field and consider Opticianry a profession. They also see that one can operate successfully as an independent and prove it daily, despite what those who spread doom and gloom may imply. They all gained significant experience in other facets of Opticianry, and even in other fields prior to opening their offices. Some worked in corporate organizations, others in labs, and still others in doctor’s offices. The positives and negatives from those experiences were great learning opportunities, allowing them to do things right the first time, and not duplicating things done incorrectly by others when opening their own offices. Experience can be a great teacher if we listen.
Describe your practice, and the services provided.
The operations were varied in many regards, but also had some similarities. All carried eyeglasses, contact lenses, solutions, etc. and did repairs, but there was some “uniqueness” that shone through as we read each article. For example, Heather Allen offered a limited replacement plan of 1-year for spectacles, while John Bruening offered an unconditional 2-year warranty. Ms. Allen had extended hours in her office to increase access, while Mr. Bruening had multiple offices in strategically placed locations. Roger Bullock offered a unique, high-end selection of frames found only at his office, while Curt Duff operates a decades-old, full-service operation handed down for generations in the Lexington, Kentucky region. Mr. Duff specializes in contact lenses, which is a large part of his operation.
Will you please describe your organizational philosophy, including any mission statement, vision, goals, etc.?
Mr. Bruening has a specific mission statement, “Serve all. Have fun. Make money.” His organizational philosophy is one that empowers employees and is sound in today’s contemporary marketplace. While Mr. Bullock does not state a specific mission statement, he emphasizes being the best in his market. The best products and services and the best people seem to be his message. Mr. Duff indicates that he has no specific mission statement, but looks to develop the practice to meet the needs of the marketplace, clearly an indication of strategic thought. Ms. Allen’s answer to this question is very straight-forward, and it is simply to be the best. I am not certain from her comments how she will do that, but I bet she will!
Do you have a Strategic Plan for your practice?
Very discouraging to this old professor is a lack of a specific strategic plan for their operations. Mr. Bruening was closest with his answer:
“I don’t have a set strategic plan, other than I try to stay ahead of the latest trends, without getting too caught up in them. I have made it a point to study and know my markets to the point that if the opportunity presents itself to make a large frame purchase, I’ll have minimized the risk of getting stuck with a lot of product that won’t sell.”
This, at least, provides for some strategic planning for meeting the needs and demands of the future. I do encourage the development of a strong strategic plan for every business, and hoped to see more in this area. At least all do give the future some consideration, but it is difficult to meet the demands of tomorrow without adequate planning. Strategic management is a must in this economic environment.
What do you see as your biggest strengths and weaknesses?
Most of our respondents felt that their biggest strengths were in the excellent service they provide, and their people. As a one-woman shop, Heather Allen sees her ability to get to know each patient her biggest strength. Clearly, services and people rank highly among our article subjects, which is appropriate. Mr. Bullock maintains an active training and education program to keep his employees in the “strength” category and feels they can become a weakness if not well-prepared to meet the needs of patients.
As far as weaknesses, they range from the need to better communicate to a lack of an in-office doctor. Mr. Bruening claims communication as his operations biggest weakness, and I assume that can be both internal and external.
Are there specific opportunities and threats in your local marketplace? If so, how do you effectively deal with them?
Curt Duff feels that he needs to maintain “extraordinary services and products in an ordinary market” to meet any threats in his market, while John Bruening sees Internet providers, big box operators, and new refractive surgery procedures as potential concerns. Heather sees doctor’s offices that dispense as her biggest threat, and Roger sees third-party plans his biggest threat.
All of these are real concerns, but the opportunity expressed by all is the opportunity to provide excellent service. That is what they indicate keeps patients/customers coming back.
Where do you see your organization in the next 10 years? The optical industry?
Almost to a person, our article subjects see their organizations changing, but in positive ways. It is clear from reading their answers to this question that they feel the industry is in a continuing state of flux, and that it is important to keep up with those changes to meet the demands of the future. This is sound advice!
Can you describe your competitive advantage? What do you think makes patients come to you, and remain in the practice?
Our folks all see their competitive advantage related to the services they provide, and their people. Mr. Bruening feels his ability to buy in volume is an advantage, and Heather sees her advantage as simply being different, meaning she provides frame lines others do not carry, or services not readily available elsewhere. Overall, they see themselves as different from others in their markets based on excellent services, and professional people, able to meet the needs of any patient.
What, if anything, would you do differently in your career?
I was pleased to see that most of our folks would not change. They are happy in their careers and feel that Opticianry was the right decision for them. Mr. Duff would like to see all Opticians advance their educations, but overall these are relatively happy campers, and very pleased with their profession.
Are there tidbits of advice you might share with the readers that you feel may help them better compete?
Both Heather Allen and Roger Bullock indicate that listening is a key to success. Listen to the advice of others, and learn from them. Keep up to date with products and services, and meet the demands of your target markets. This is sound advice as well.
Series Wrap
In the last 5 months, we have addressed Competitive Advantage. We all must compete and need to gain an advantage over the competition. In my early days, the goal of all Opticians and Optometrists was to open their own offices one day, and that dream can still be a reality. Review the series, and think about ways you can better compete. Look at what these folks are doing. I included Ms. Allen, who is relatively new, to show that it can be done. She is not only surviving, but thriving and I am pleased to be able to shine a spotlight on her efforts. All of our article subjects are people I am proud to have featured and I hope we learned something from them. I do encourage you all to think strategically…meaning future-focused…to be able to meet the needs of the patients we will serve in the future, and to gain that Competitive Advantage.
I am very sorry to report that one of our article subjects, Mr. Roger Bullock passed away this past week. I am proud to have known this outstanding man, and was pleased that I could recognize him in this publication. Our deepest sympathies go out to his family.
References on request
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