Steering through change

The webinar, Steering through change – confidence, gratitude, and growth in independent optometry, held on 9 December, explored the economic outlook for the UK, as well as tips for mindset and leadership.

The webinar was moderated by Peter Telfer, group managing director at Urquhart Opticians, Shaw Eyecare, Kidner Opticians, and Purcell Opticians – 15 Hakim Group independent practices on the west coast of Scotland, and also a member of SharkLink at Hakim Group.

Telfer opened the session with an overview: “We’ve seen quite a rapidly evolving landscape around our businesses.”

These include changes in technology, shifts in consumer behaviour, and a drive across the profession to broaden the scope of practice.

Telfer described these changes as set against a backdrop of political instability, an NHS creaking at the seams, and a future workforce with markedly different expectations.

OT has summarised some key takeaways from the webinar, which is now available to watch on-demand from the OT Education Library.

1 “It’s not as bad as you think”

Economist, Roger Martin-Fagg, provided a sense of macro-economic trends, takeaways from the Autumn Budget and the potential implications for independent practices.

Overall, he emphasised: “The economy is in better shape than you think.”

The UK is the second fastest growing economy in the G7, he noted.

Martin-Fagg suggested negative discourse in the media around the economy has contributed to concerns and affected consumer confidence.

2 Spending power

Martin-Fagg shared that, for the past few months, household spending power has been growing at approximately £8 billion a month.

The problem, he noted, is that money is not being spent as it used to be – with UK households saving twice as much as usual (12%).

The change in behaviour could be attributed to fear – resulting from negative reporting – and the ageing population, he suggested, sharing: “I think there are people getting close to retirement and maybe changing spending habits to thinking post-work ability to live.”

While monthly wage growth has been consistently above inflation for the past 18 months, disposable income has been falling since June as a result of fiscal drag, he shared.

With income tax thresholds frozen for the next three years, Martin-Fagg suggested this will continue to impact consumer spending.

3 Budget takeaways

Martin-Fagg shared his thoughts on the budget announced by chancellor, Rachel Reeves, this autumn.

The idea that the Government should cover its current spending from tax receipts is correct, he felt, and the fact that infrastructure spend will be financed by borrowing is good. This spend will drive income and profits growth, he suggested.

The Government’s commitment to fully funding the small business apprenticeships was also a positive.

Martin-Fagg argued that despite Reeves stating tax revenues were below plans and would need to increase, the Office for Budget Responsibility shared that tax receipts were in fact above plan.

4 Control what you can

Sharing his conclusions with webinar attendees, Martin-Fagg said: “My advice to you is to focus on what you can control.”

He also encouraged business owners to consider how their attitude in the workplace can impact the team: “Be consistently positive. The thing about owning a business, is your employees are looking at you – and it’s not what you say, but how you look. Non-verbal communication is very important.”

Consumer spending is anticipated to improve, but not by much, Martin-Fagg noted. However, he emphasised the importance of communication, sharing: “People buy people.”

5 Spark of light

Jake Humphrey, television presenter, author, businessman, and host of the High Performance Podcast, shared lessons from podcast guests around staying grounded, positive, and proactive, building resilience and high performance, and the power of leadership.

Humphrey shared a clip from an episode with musician, will.i.am, who spoke of being a “spark of light” in every room.

Humphrey encouraged webinar attendees to consider whether they are the thermometer – that tells the temperature of the room – or the thermostat – that changes the temperature.

The spark of light is the optimist, he suggested, explaining that of all the interviews he has completed, “resilient people outperform talent.”

“Being the spark of light matters, because the way to be more resilient is to be an optimist,” he said.

6 Reframe challenge

In a clip of an interview with Dr Ali Abdaal, the YouTuber, entrepreneur and productivity expert shared his approach of reframing tasks and challenges by asking himself each morning: “What is today’s adventure going to be?”

Humphrey reflected: “We have this idea that things that are hard for us must be bad for us, so we try and avoid those things as much as possible. I’ve realised that things that are hard for us can be good for us.”

“If we can just feel the fear and do it anyway, we can find that incredible things can happen,” he added.

7 Small decisions

Humphrey also outlined the importance of building habits, sharing an interview clip with James Clear, author of Atomic Habits, in which Clear said: “every action you take is like a vote for the type of person you want to be.”

Describing life as a “long-distance run,” Humphrey shared that it is the tiny changes that can lead away from the end goal, or keep an individual on track.

“Life isn’t about big changes. Finding high performance in your life is the thousands of tiny decisions,” he said.

8 Opportunities abound

Reflecting on the presentations, Telfer provided some closing remarks, sharing: “In our business we’re really excited about the future of our industry.”

“We see the new models and pathways we’ve got ahead of us as really good opportunities,” he said, highlighting the convergence of optometry with hearing care, and with ophthalmology services.

“The industry has never really been better placed to push the boundaries,” he added.

Telfer pointed to the broadening scope of practice, the growth of independent prescribing, and new technology in the marketplace.

Building on the commentary given by Martin-Fagg and Humphrey, Telfer said: “It can be easy to feel scared, apprehensive, or unsure, because change is often new territory, but therein lies the opportunity for us all.”

“If we’re surrounded by the right team, the right support, the right mindset, the right networking resources – I think it’s fair to say we have an exciting future ahead of us,” he concluded.

Find the full webinar, including all of Roger Martin-Fagg's expertise on the economy and Budget, and Jake Humphrey’s leadership insights, on the OT Education library.

The Hakim Group has prepared a 2026 planning toolkit for practices. This can be requested through the Hakim Group website or by email, quoting WEBINAR.