For several months now, I’ve been watching the Nordstrom catalogues as an indicator of the strength of the retail marketplace. No, I’m not sure what THE color is for spring and summer. It might be green, or possibly orange. I’m just not sure. What I do know is that their sunglass offerings have changed.

I’ve grown accustomed to seeing the latest in designer sunwear, retailing for a few hundred dollars. The designer names are familiar and are also represented in their handbag and shoe offerings. While I don’t think that Nordstrom is over-priced by any means, they do represent the upper end of my budget.

Imagine my surprise when the single pair of sunglasses in the latest catalogue was a designer name, but priced under $100. Yup, right there with the $1,200 watches and the $300 handbags, was a pair of less than $100 sunglasses and a pair of designer sandals for less than $80. Didn’t need the sunglasses, but my 20-year old Aigner sandals were looking a bit worn. The catalogue was in the mail on Friday and according to the nice salesperson on the phone, there was ONE pair of those sandals left in my size. Guess where I was on Saturday?

I didn’t care if I could have bought those sandals somewhere else, Nordstrom had them in the catalogue and they had a pair for me. I wasn’t going to buy the $1,200 watch, even though it was really cute, but those sandals got me in the store.

That’s a fall back strategy.

According to Mark Zandi, chief economist and co-founder of Moody’s Economy.com, home prices should reach their lowest by the end of the year and the fiscal-stimulus program should start to work by this summer. The unemployment numbers will peak in Q2 of 2010 and the economy should begin to expand by the fall of 2010.

In the meantime, what’s an ECP supposed to do to hang on?

Develop a business strategy and a fall back strategy.

Strategy n. - 1. Science of military operations 2. Artful management 3. plan

Every one of those definitions describes what a solid business strategy should be. It is the artful management of a scientific plan of action.

If your practice does not have a strategic plan as described by Dr. Warren McDonald in his series of articles in this publication, it’s time to develop one.

In fact, you’re late.

At the very least, you and your staff must brainstorm the strengths and weaknesses of every facet of your daily operations. This may seem counter-intuitive given the current economy, but closing your practice to patients for a day so that you and your staff can evaluate every aspect of daily operations will be the smartest money you ever spend. From the front desk/reception area to the pre-test rooms to the exam lanes to the dispensary and back to the check-out, analyze every part of how well you are working as a team. According to Tim Fortner, Trade Development Manager for Transitions Optical, you want your patients to do three things: pay their bills, come back and refer others.

If your team is weak in any area, the chances for one of those three things to disappear will multiply.

Once you and your staff have analyzed the practice, choose three areas to concentrate on. Define three things that your team can do to make a positive impact on your practice. Decide what results you want to see and in what time frame. Allow team members to take ownership of each task and give them all the support they need to accomplish the goals. The key to success is to implement the selected tasks immediately. Not after someone’s vacation or after the next conference…NOW! According to Carol Schartner, Training and Education Manager for Transitions, any process or procedure that your office implements and performs consistently for 21 days will become a habit. Though it may take longer to measure the impact of your changes, it’s a start.

But I digress. What about a fall back strategy?

What is a fall back strategy? According to www.businessdictionary.com, it is an alternative or second-choice option.

It does not say, “Discount the heck out of everything because the sky is falling along with the Dow.”

What could that strategy look like? Well, it certainly isn’t a big window sign advertising discounts on everything. That’s more like a surrender strategy.

A fall back strategy is the plan you develop when things just don’t work out quite like you thought they would.

First, look at your frame selection, specifically your high-end and designer lines. If they are not moving, move them…OUT. Most designer lines are tiered, meaning there are collections within the lines that are available at different price points. Ask your rep to exchange some, not all, of the higher priced frames for other lower priced ones. Do the same thing for your plano sunwear. The $300 pair might get your patient to the dispensary, but the $100 may be the one that gets sold.

Second, re-evaluate your lens offerings. Today’s newest technology has real benefits for your patients, but they come with a pretty steep price tag. Every lens manufacturer has a tiered offering of lens products and treatments. The top end will always be a part of the mix, but keeping your patient base intact may mean adjusting your recommendations to include less expensive options. It goes without saying that how well you know your lenses and treatments is critical. The differences between lens designs, materials and treatments may be small, but you had better be able to describe them very clearly.

Third, take a hard look at how you work with your insurance patients. The economy is forcing more patients to stay within or very close to their plans’ covered services. Help them understand that insurance benefits are just that, an allowance or a contribution towards their eyewear purchase. That’s much more appealing than describing those benefits as just “coverage.” Even if the benefit is a simple discount plan, unless you have giant discount signs posted everywhere, that discount will look pretty good to most folks.

Fourth and finally, watch your language. Don’t push and don’t beg. Everyone is uneasy in the current environment. Your patients will remember your professionalism, your kindness and your empathy.

We’re all going to survive this cycle…well… MOST of us are going to survive. Many of us will emerge smarter and with a better plan for the future.

Amazon.com lists 14,224 books on business strategic planning.