Business Lessons for the OD

Leadership Insights

from LeadershipOD.com

Summer 2012- Vol 3, Issue 5

In This Issue

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Greetings!

I really like coming across articles about optometrists in business publications. If there is any area in my practice where I am constantly trying to improve, it is my business savvy. Don't get me wrong, I like a new contact lens as much as the next guy, but business news is what drives my passion.

I came across an article in the NY Times about our colleague, Dr. Penn Moody. I was intrigued by the article so I gave him a call and I found him to be an impressive business man. He has a strong vision for his practice and beyond.

Dr. Moody was gracious enough to share his story with me and gave me permission to let you know a little more about his methods. I learned a lot and I hope you do too.

And we are finally giving Dr. Justin Bazan his overdue rebuttal. You may recall my blog about "getting poked" and finding a good balance to your marketing. In that blog we showcased 10 reasons why Facebook should NOT replace your website.

We didn't convince Justin and we are finally letting him say why. I hope you enjoy this continued debate.

Truly Yours,

Mike Rothschild, LeadershipOD

Mike's Blog Post from LeadershipOD.com

Penn Moody of Moody Eyes in Indianapolis came into private practice not necessarily by choice. At 54 he found himself without a job and out of money. He wasn't able to find a job, even when offering to work for only a percentage of what he produced. He says he had "no choice but to go into private practice."

With 25 years of practicing under his belt and a natural business sense, he decided not to build a practice, but yet a business. He knew he would be the CEO and not just the doctor. From day one, he ran it like it was a big business.

In his drive to learn as much as he could from other business leaders, he joined Vintage Connect, an online consulting group. Moody says this relationship has been "on the short list of the best things I've ever done." His membership affords him the opportunity to meet and learn from business leaders in non-competing industries. He also receives virtual coaching sessions.

The benefits go far beyond the specific marketing and business lessons he learns. He also gets motivated to be a better leader of his team. After talking with his group, he says, "I have to think like this more."

He learned from his peers that his leadership ability is the true limiting factor in his staff and the only way they will grow is if he, as the leader, grows first. With his focus, I'm sure he will.

To learn about how Dr. Moody utilized lessons from his group - Click Here - .

Dr. Moody can be reached at penn@moodyeyes.com.

Facebook Rebuttal from Dr. Justin Bazan

- To really understand this article, you need to read this first -

10 reasons that Facebook should replace your web-page

1. Branding: Every post is branded! Your branding is carried out throughout FB via your page name and icon. It travels to other users profile and business pages. Major international companies are choosing to market their FB pages, not their websites because of this. Next time you have the TV pay attention to the commercials. Are they giving you a website url or their FB page?

2. Control: You have major control. FB has settings allowing you to display content how you want. You can edit your privacy settings and determine what content is shown to whom. You can always block users from posting, ban certain words, and remove any content you deem unfit. You can create custom content and add tabs. The best part is, that you do not have to employee or wait for a web designer to change things.

3. Ownership: The material can always originate from your own hardrive. You give them permission to use it as they see fit, but you can remove it at anytime. Joe OD's video of a trunk show he posted on Youtube that was posted on his business pages wall is also content that should be considered social and disposable.

4. Network: A very common myth! Your business page is public and does not require membership to be seen.

5. Revenue: Facebook really cares about how well your business does. The more successful you are on FB, they more they will be. They exist to build your business through their ad platform. Wether it is displaying ads on your business page that your fans are interersted in, or displaying your ads to users, they are out to help business grow. You can use FB ads the same way one would use adwords to market their webpage.

6. Search Engine Optimization: Search engines love it! Search for a business that has a great facebook page. You will often see it ranking ABOVE their own website.

7. Analytics: Data and analysis is extremely detailed. You can learn everything from the age, sex and location of your fans, to what page brought them to your business page. You can see what posts are the most successful and what ads are doing the best. The platform is extremely robust and is comparable to google analytics, which is very commonly used in web design.

8. Layout and functionality: They have a brilliant team of designers working on making continuous improvements. Its the same layout for every business so people already know where to look for the info they want.

9. Less Distractions: Facebook is easy on the eyes. They have studied how people view the page and make changes to ensure it is easy to use.

10. Customer interaction: Conversations that were not possible now are! You are now involved on a much deeper level customer lives.

(Bonus) Future: Facebook will not last forever. However, the experience you gain by using it will.

Bottom Line: Facebook should replace your website