1132: Texas State Optical: Optometry Practice, Consumer Focus, and Intentional Planning with President and CEO John Marvin

Thursday, July 4, 2024

Are you struggling to connect with your customers and keep up with industry changes? As an optometrist, have you been overwhelmed by the business side of running your practice? Many businesses tend to focus on pleasing suppliers and third-party payers while neglecting the end consumer. However, it's crucial to remember that everything starts and ends with the consumer. This shortsightedness leaves industries vulnerable to outsiders willing to listen and respond to customer frustrations. In an age where consumer preferences and technologies are constantly shifting, can your business afford to remain static? 

John Marvin is the president and CEO of Texas State Optical, the largest doctor-owned private practice organization in the United States. He has a background in brand management, marketing, and helping young optometrists open their own practices. Today, John shares insights on how he transitioned from the advertising and pharmaceutical industries into the optometry field, leveraging his expertise in consumer research and brand management to position Texas State Optical for growth. He emphasizes the importance of listening to customers and being intentional about planning for the future, whether as an optometrist or small business owner.

Quotes

“Everything starts and ends with the consumer. Businesses that don't pay attention to the consumer eventually find themselves displaced, and their industries disrupted by others who are listening to them.” – John Marvin

"If you're not intentional about managing your practice as an optometrist or your small business as an owner, you won't really know where you're going. Without that intention, you'll end up on any road and won't know where you'll end up. But you can take control of that. You can be intentional and plan the future you want for yourself." – John Marvin

“If you continue without innovation, without trying to improve and align with consumer preferences, then it's a managed decline. That's all that's left as an opportunity. Private practice healthcare is changing.” – John Marvin

Takeaways

08:13 Transferring skills and leveraging relationships can open up new job opportunities, even in unrelated industries.

10:42 Focusing on understanding consumer needs and desires is crucial for positioning a brand and business for success.

12:54 Disrupting an industry often requires identifying and addressing consumer frustrations that the established players are overlooking.

23:56 Conducting regular, simple market research can provide valuable insights to improve a business and better serve customers.

29:37 Being intentional about planning for the future is key to avoiding a "managed decline" and maintaining a competitive edge.

Resources

Podcast: Play in new window | Download (Duration: 31:34 — 43.5MB) | Embed

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