A Business Lesson from Jack Nicholson
You may remember the scene from the movie Five Easy Pieces. It’s the one where Jack Nicholson is at a diner and desires to have plain toast. The problem is that plain toast is not on the menu. The dialogue is hilarious, but carries an important message for our times. Nicholson: “I’d like an omelet, […]
FIRST ANNUAL NATIONAL EYECARE FACILITIES CONFERENCE ANNOUNCED
Cleinman Performance Partners is pleased to announce the First Annual National Eyecare Facilities Conference. “Building the WOW” will be the first two-day conference of its kind and is designed to help ECP’s develop a facility that separates their brand from the competition. “Building the WOW” will provide a one-stop, economical resource to educate optometric practice […]
Can you Handle the Pain?
Many years ago, we were engaged to perform our Strategic Review on a practice and assist with various implementation projects. This client was financially successful, but the practice was in disarray. The business had clearly outgrown its current organization and systems. The client (an O.D./husband and manager/wife team) were literally “owned” by the practice. They […]
Is Your Crystal Ball in Your Closet?
So why all this about shoes? It’s clear to this observer that what we have observed in the shoe business is repeating itself in our industry. Today, the national average for a pair of eyewear hovers just around $200 (for the clients of Cleinman Performance Partners, this number is 2x). The average consumer owns fewer […]
Lessons from a Hamburger
Can you imagine taking a $30 cab ride for a $5 hamburger? I’ve made that investment…on several occasions. I’d do it tomorrow if I could. My pilgrimage and loyalty is to an absolute mecca of fast food, In N Out Burger. Founded in California in 1948, the 300+ location, family-owned enterprise, now has footprints in […]
Change the Game!
Competition! This word often strikes fear in the minds of ECPs. Having the perspective of a student who has studied the business side of optometry for over 40 years, I’ve seen this fear evolve. When Pearle Vision began its expansion in the 1970s, I heard fear. When Lenscrafters arrived on the scene in the 1980s, […]
Trust the fail
I’ve been a student of failure for much of my life. As far as I can remember, I’ve failed. And, indeed, I want to keep failing…if I can. When I was but six, with parents as small town grocers and away much of the day, I held a yard sale. I gathered up a variety […]
The Big Get Bigger!
As anticipated, Luxottica is going to merge with Essilor. While so positioned, in fact, Essilor is acquiring Luxottica in a stock swap worth ±$24bb to Luxottica shareholders. The resultant company (we’ll call them “EssiLux”) will be the dominant player worldwide in both the lens, frame, retail and online eyewear business. This announcement is big news […]
Throw away those Progressives?
Swiss drug maker Novartis AG (owner of Alcon), whose $60bb in annual revenue makes them the largest drug company in the world, said on December 20th that it had reached a definitive agreement to acquire Fort Worth, Texas-based Encore Vision. Encore Vision has been focused on developing a treatment for presbyopia. That’s right, a medical […]
How Safe Is Your Business?
“Concentration of Risk” is a banking term which designates the overall spread of a bank’s outstanding accounts over the number or variety of debtors to whom the bank has lent money. If the bank has $100mm in outstanding loans and a loan is for $1mm, then the risk concentration is 1%. This example indicates a relatively low […]