A second wave can mean so many different things when it comes to how Covid-19 affects your business. It could be a second closure and quarantine in your area. It could be a second wave of procedures and changes that need to take effect. Or, it could very well be a second wave of stress and concern.

No matter what the future holds, following this month’s checklist will better prepare you for the uncertainty of business during Covid.

ABOUT THE AUTHOR:

Sheena Taff is a second-generation licensed optician at Roberts & Brown Opticians in Vancouver, Canada. Since becoming the optical boutique boss, she has evolved and grown the business and taken it to new heights. Taff is familiar with the many roles an independent practice owner and employees must undertake and wants to share tips for growing a successful practice.

WEEK 1: Check Cash Flow.

Knowing where your business stands in regard to money in the bank and anticipated cash flow can be the difference between weathering the storm or succumbing to it.

1. Create a calendar and mark all the accounts payable and receivable until the end of the year. Highlight which invoices may be deferrable, without penalty, and those that cannot.

2. Run a cash flow analysis: Free Cash Flow Formula = Net Income + Depreciation/Amortization – Change in Working Capital – Capital Expenditure. ReopenEyecare.com has a practice cash flow calculator.

3. Research access to funds. Speak to your financial adviser to line up options and collect the documentation required to apply for a loan if necessary.

WEEK 2: Speak to Staff.

Having an open and honest dialogue about different business scenarios can ease employee tension about uncertainty.

1. Could your practice operate in pods? Scheduling employees in smaller groups that do not cross with one another may help avoid a full business closure in case an employee tests positive for Covid.

2. Review your employee roster and categorize employees by job duties. Discuss with staff and note your employees’ family commitments, such as parents who could not work if school/child care was closed.

3. Inform staff of the business’s and your state’s sick pay compensation. Have the required forms and employee documents ready and know what process is required if layoffs or furloughs are necessary.

WEEK 3: Think Virtual.

What products/services do you offer that can be continued virtually or shipped directly? Limiting patients in the practice frees up time and reduces exposure.

1. Pull a customer sales report for your sundry items: eye drops, lid cleaning products, vitamins, and CL cleaning solution. Offer patients scheduled refills.

2. Ensure your contact lens patients are notified before they run out of lenses. Many patients wait until they have only a couple of pairs left. Auto-shipping is good customer service.

3. Make sure your website has shoppable options. Start with off-shelf items like readers, eye drops, and solutions. If you have a web shop, try adding a “New Arrivals” subsection to showcase frame additions.

WEEK 4: Don’t Be Blue.

As we move indoors for the season, our exposure to artificial blue light will increase. Protective digital eyewear is a big opportunity for ECPs to capture a new market.

1. Create a series of social media posts about digital eye strain and the benefits of protective digital eyewear, including separate posts about the offerings available at your practice.

2. Connect with patients via a Q&A series. Have patients ask questions and staff answer. Post it on your website and social media. Try recording videos to capture more attention.

3. Pull inventory reports to address “slow movers” and stale stock. Spice them up by adding blue light lenses and offering them to plano and contact lens wearers as a packaged price.