Caution: This message contains pessimism.
Mike's Monday Morning Message returns with a new series to help prepare for 2021. We will use the Five Zones as a guide to ensure that all areas of the practice are considered as we prepare for the New Year.
Mike begins a new series for the Monday Morning Message to help you prepare for 2021.
Any optometric practice can be broken into five distinct zones of operation. In this series, we will address each zone and recommend adjustments that need to be made to prepare for 2021.
The Financial Zone is called the foundation of the practice because it supports every aspect of the practice. While money is not the most important part of the practice, it is always very important.
In 2021, we are calling for "Unemotional Pessimism" related to your financial planning. All active members of Leadership OD have a working budget as it is the starting point of membership. In 2020, these budgets were mostly "busted" due to the outstanding nature of the year. No one planned for practice shutdowns, quarantines, PPE or PPP. 2020 has been a reactionary year.
2021 looks to begin with many of the same struggles from 2020.
When crises occur, we naturally get emotional. Our immediate fear of the unknown can often be replaced by anxiety caused paralysis. Our passion about what's happening in the world can naturally lead us to inaction. Since we don't know what to do, we do nothing. When budgeting, try to not let your zeal prevent you from focusing on the financial state of your practice.
2020 was a tough (and scary) year and a number of relief packages actually saved us. The President signed another stimulus bill yesterday but it won't continue indefinitely. Many people are still without work and will lose insurance benefits while others will be delaying expenses that can wait. This is why we are recommending "pessimism" when laying out your budget this year. When budgeting in uncertain times, it is best to plan for the worst and hope for the best.
In future messages, we will talk about taking steps to make 2021 the best year ever.