blavigne, Author at Eye Care Business Canada

Episode 9: Customer Connection – The Want RX

In optical retail, customers don’t walk in asking for better lenses—they come in looking for glasses. The frame, the style, the image—that’s what drives their decision-making. In this episode of Revenue RX: Optical Retail Wins, I explore a crucial distinction: the difference between a need-based sale and a want-based sale.

Selling a pair of glasses isn’t just about filling a prescription—it’s about fulfilling a desire. When you tap into the customer’s want, you create a deeper connection, improve customer retention, and ultimately drive more revenue. The challenge? Most customers don’t even know what they want until you help them discover it.

Selling What Customers Want vs. What They Need

Most opticians focus on the need-based sale—the prescription, the medical necessity. But that’s only half of the equation. The real opportunity comes from the want-based sale—helping customers find a frame that speaks to their personality, lifestyle, and self-image.

Think about it: customers don’t ask for “anti-reflective coating” or “high-index lenses.” They walk in saying, I need new glasses. They assume the lenses will do their job; what they truly care about is how they look and feel in their frames.

When you focus on the want, customer retention and increased revenue naturally follow.

How to Discover the Customer’s Want

The key to unlocking what the customer truly wants isn’t asking, How can I help you? Instead, try something different:

👉 “Here, put this frame on. Tell me what you see.”

This approach does two things:

It gets the customer talking—not just about the product but about how they feel wearing it.
It separates you from the competition, making the experience more interactive and personal.

Engaging in a real conversation, rather than just guiding them to a sale, helps customers discover what they want—not just what you think looks good on them.

The Role of Image in Optical Retail

Optical retail is more than just vision—it’s about image. Every customer wants to project a certain look. Do they want to appear sophisticated? Trendy? Professional? Approachable? The frames they choose help shape that perception.

Many purchases aren’t driven by logic alone. Prestige, status, and emotion play a huge role. Rather than looking for the best deal, customers are drawn to products that make them feel good. Understanding this mindset is critical when selecting inventory—your staff, not just your suppliers, should play a role in deciding which frames to carry. After all, they know the customers best.

The Difference Between Customer Service and Serving the Customer

Many businesses focus on customer service, which is often reactive—handling complaints, processing returns, or answering questions. But serving the customer is proactive and built around understanding and anticipating their needs.

✔️ Customer service: Helping with an issue, answering questions, processing a transaction.
✔️ Serving the customer: Building a relationship, personalizing recommendations, making them feel valued beyond the sale.

True service is about putting the customer’s best interests first, creating an experience where they feel seen, heard, and appreciated—not just sold to.

How to Build Lasting Customer Loyalty

Customers don’t like being sold to, but they love being served. That’s why it’s important to turn on service mode the moment someone walks into your store. Customers don’t see themselves as a transaction—they’re looking for a solution, a better image, a better experience.

When you focus on service, not selling, the sale becomes the byproduct of a great experience.

✔️ Instead of saying, How can I help you?
➡️ Say, How can I serve you?

This simple shift changes the tone of the conversation and sets the expectation that the customer is in for a personalized, thoughtful experience—not a hard sell.

Inspiration vs. Manipulation: The Key to Long-Term Success

Many businesses rely on manipulative marketing tactics—flash sales, BOGO deals, heavy discounts—to drive short-term sales. While effective in the moment, this approach doesn’t build loyal customers.

Inspiration, not manipulation, breeds long-term success.

✅ Customers who are manipulated by deals will leave for a better deal.
✅ Customers who are inspired by their experience will return again and again.

Instead of competing on price, focus on value—the experience, the service, and the personal touch that makes customers want to come back.

Final Thoughts: The Revenue RX Formula for Customer Connection

Success in optical retail isn’t about simply selling glasses—it’s about:
✔️ Understanding the difference between need and want
✔️ Helping customers discover what they truly desire
✔️ Moving beyond customer service to serving the customer
✔️ Creating lasting loyalty through inspiration, not manipulation

Customers don’t just buy glasses—they buy confidence, self-expression, and trust. The more you focus on their want, the more successful your business will be.

Want to learn more? Tune in to this episode of Revenue RX: Optical Retail Wins and discover how customer connection can transform your bottom line. And don’t miss the next episode, where we explore how to stop selling glasses and start making money!

Joseph Mireault

Joseph Mireault, Optical Entrepreneur, Business Coach, and Published Author.

Joseph was the owner and president at Tru-Valu Optical and EyeWorx for 16 years. During his tenure, he consistently generated a sustainable $500K in annual gross revenue from the dispensary.

He now focuses on the Optical industry, and as a serial entrepreneur brings extensive experience from a variety of different ventures.

Joseph is also a Certified FocalPoint Business Coach and looks to work directly with ECPs in achieving their goals.

Through his current endeavour, the (Revenue RX, Optical Retail Wins podcast) he shares the challenges and solutions of running an Optical business.

His insights are shared with optical business owners aspiring for greater success in his new book, “An Entrepreneur’s Eye Care Odyssey: The Path to Optical Retail Success.”

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Episode 8: The Art of Communication – Listen and Learn

Practice, Revenue RX

Communication is more than just words—it’s an art form. In this episode of Revenue RX: Optical Retail Wins, I explore how the way you communicate can either win over customers or drive them away. It’s not just about what you say—it’s about how you listen, how you engage, and how you make people feel.

Too often, opticians and optical retailers focus on product knowledge and sales techniques but overlook the fundamental skill that makes or breaks customer interactions: active listening. If you want to improve your conversion rates and customer satisfaction, the answer isn’t always in better pricing or more promotions—it’s in how well you connect with the people walking through your doors.

The Power of Listening in Sales

The best conversationalists aren’t the ones who talk the most—they’re the ones who listen the most. Customers aren’t just buying eyewear; they’re investing in their personal image, their vision, and their comfort. If you don’t take the time to truly understand what they want, you’re just selling a product, not providing a solution.

A simple rule: When you’re talking, you’re not learning anything. By keeping the spotlight on the customer, you create an environment where they feel heard and valued. This not only builds trust but also leads to a smoother sales process—because when customers feel understood, they’re more confident in their purchasing decisions.

How Small Talk Can Make or Break a Sale

Have you ever had a customer get halfway through an order and then suddenly decide to “think about it” and leave? Silence during a transaction can lead to buyer’s remorse or hesitation. Keeping the conversation flowing is key to preventing second thoughts.

Here’s the trick: Keep customers engaged by showing genuine interest in their lives. A well-timed anecdote, recalling something personal they shared, or simply using their name multiple times in the conversation makes them feel important. Mastering small talk can mean the difference between closing a sale and watching a potential customer walk away.

Reading Your Customer: The First Step to Better Communication

No two customers are the same. They come from different backgrounds, cultures, and experiences, all of which influence their buying decisions. But how do you figure out who you’re dealing with in just a few moments?

It all comes down to asking the right open-ended questions. Instead of “What do you do for a living?” try “How do you spend most of your time?” This subtle shift invites the customer to share more about themselves, giving you insight into their lifestyle, preferences, and what they truly need from their eyewear.

Another key factor? Body language and first impressions. The way you present yourself—your posture, eye contact, and even your smile—sets the tone for every interaction. People decide within seconds whether they trust you, so looking and acting the part of an expert is crucial.

Why Optical Retail is About Image, Not Just Vision

Customers don’t walk into your store saying, “I need new lenses.” They say, “I need new glasses.” Their focus is on the frame, the style, and the image they want to project. That’s why it’s essential to position yourself as more than just a retailer—you’re a consultant, an image expert, and someone who helps them feel good about their choices.

Your job isn’t just to show them dozens of frames and hope they pick one. It’s about curating the right selection based on their personality, their needs, and the subtle cues they’ve given you through conversation. Make the process transformational, not transactional.

Making People Feel Special: The Secret to Loyalty and Referrals

People remember how you made them feel, not just what you sold them. If you want repeat business and word-of-mouth referrals, you need to make every customer feel like the most important person in the room.

Some easy ways to do this:

Use their name multiple times in the conversation.
Show interest in their hobbies, lifestyle, and personal preferences.
Be present: put away distractions and give them your full attention.
Follow up with personalized touches, whether it’s a handwritten note, a call to check on their glasses, or a small token of appreciation.

At the end of the day, communication isn’t just about selling—it’s about building relationships. And when you get it right, sales naturally follow.

Tune In to Learn More!

Want to master the art of customer communication? Listen to this episode of Revenue RX: Optical Retail Wins, where I break down how better listening, small talk, and customer engagement can lead to higher conversions and long-term success.

And don’t miss the next episode, where we’ll explore the difference between customer service and truly serving the customer—plus, how inspiration beats manipulation when it comes to influencing buying decisions.

Because at the end of the day, the only revenue source in any business is the customer.

Joseph Mireault

Joseph Mireault, Optical Entrepreneur, Business Coach, and Published Author.

Joseph was the owner and president at Tru-Valu Optical and EyeWorx for 16 years. During his tenure, he consistently generated a sustainable $500K in annual gross revenue from the dispensary.

He now focuses on the Optical industry, and as a serial entrepreneur brings extensive experience from a variety of different ventures.

Joseph is also a Certified FocalPoint Business Coach and looks to work directly with ECPs in achieving their goals.

Through his current endeavour, the (Revenue RX, Optical Retail Wins podcast) he shares the challenges and solutions of running an Optical business.

His insights are shared with optical business owners aspiring for greater success in his new book, “An Entrepreneur’s Eye Care Odyssey: The Path to Optical Retail Success.”

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Episode 7: The Optometrist Dilemma – Reality Bites

Practice, Revenue RX

Optometrists dedicate years to mastering eye care, diagnosing vision issues, and improving patient outcomes. But when it comes to running a successful optical business, reality bites—because clinical expertise alone isn’t enough. The truth is, most optometrists aren’t trained in business, marketing, or sales, yet the financial success of their practice often hinges on these very skills.

In this episode of Revenue RX: Optical Retail Wins, I dive into the fundamental dilemma facing many optometrists: balancing professional eye care with the realities of retail. I share my own journey of transitioning from optical retail into a full-service optometric practice and how I uncovered the key to increasing profitability—by embracing the service process over the fear of selling.

Why I Brought an Optometrist Into My Business

I wasn’t always in the optometric business. My first store was purely an optical retail operation, with eye exams outsourced to a neighboring optometrist. It was a simple, straightforward arrangement—until I walked into that very clinic for my own eye exam and was charged full price despite referring dozens of patients each month. That moment was a wake-up call. If I was sending patients next door, why wasn’t I keeping them in-house?

So, I did what any entrepreneur would do—I found a way to take control. A storage room in my store became the perfect location for a fully functional exam lane. I worked with an equipment sales rep, set up a lease-to-own agreement, and soon had an OD working three days a week. Over time, I expanded to five days, ensuring a consistent flow of patient exams—without handing my business over to someone else.

But that was only the beginning.

The Optometrist’s Role in Retail: A Reality Check

Let’s be honest—most optometrists don’t like the word sales. It feels uncomfortable, almost taboo. But here’s the reality: if you own an optical dispensary, you’re in retail. Your practice doesn’t thrive on exams alone. The real money—often a 5:1 revenue ratio compared to exam fees—comes from the dispensary.

Yet, many optometrists still see their role as separate from the sales process. The truth? You are the quarterback of the entire patient experience. Your job doesn’t end when the patient leaves the exam room—it extends into the dispensary, where trust built during the exam needs to be seamlessly handed off to the team responsible for filling their prescription.

A common misconception is that loyalty comes from the exam experience. But here’s the reality: customer retention is driven by their buying experience, not just their eye exam. Patients return to a practice because of how they felt when choosing their eyewear—not just because they received a prescription. The question is: Are you actively influencing this part of the journey?

Reframing the Optometrist’s Role: The Service Process

If the words sales and selling make you cringe, let’s shift the mindset. Instead of seeing it as a sales process, think of it as a service process. Your role as an OD isn’t to push products—it’s to guide your patients through a seamless experience that extends from the exam chair to the dispensary.

Here’s how optometrists can naturally and ethically enhance dispensary sales without feeling like salespeople:

✅ Educate, Don’t Sell – Instead of focusing solely on the prescription, take a moment to discuss lens options, coatings, or frame styles that would best suit the patient’s lifestyle. When recommendations come from you—the trusted doctor—patients are far more likely to follow through.

✅ Hand Off with Purpose – Instead of a generic “Someone will help you out front,” make an intentional recommendation. Something as simple as: “I’ve recommended anti-fatigue lenses for you, and my team will walk you through the best options for your lifestyle” can transform the buying experience.

✅ Create an Emotional Connection – The exam room is all about need-based solutions, but the dispensary is about wants. Patients don’t just buy glasses—they buy how they feel wearing them. Use your influence to bridge the gap between need and desire.

✅ Reduce Patient Leakage – By reinforcing the importance of proper eyewear and seamlessly transitioning the patient into the dispensary experience, optometrists can significantly reduce the number of patients who take their prescriptions elsewhere.

Joseph Mireault

Joseph Mireault, Optical Entrepreneur, Business Coach, and Published Author.

Joseph was the owner and president at Tru-Valu Optical and EyeWorx for 16 years. During his tenure, he consistently generated a sustainable $500K in annual gross revenue from the dispensary.

He now focuses on the Optical industry, and as a serial entrepreneur brings extensive experience from a variety of different ventures.

Joseph is also a Certified FocalPoint Business Coach and looks to work directly with ECPs in achieving their goals.

Through his current endeavour, the (Revenue RX, Optical Retail Wins podcast) he shares the challenges and solutions of running an Optical business.

His insights are shared with optical business owners aspiring for greater success in his new book, “An Entrepreneur’s Eye Care Odyssey: The Path to Optical Retail Success.”

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Your Voice Matters: Participate in Our Survey on Practice Management Systems!

Why Participate?

In addition to making your voice heard, the first 100 qualified respondents will receive a $10 e-gift card as a thank-you for your time and valuable input. (Limitations apply.)

Your responses will be used to better understand the needs of optometric practices across Canada, helping us uncover trends, challenges, and opportunities in practice management software.

How to Get Involved

Participating is simple! Click the link below to access the survey and complete it on your own time. Remember, it takes less than 5 minutes to make an impact and claim your reward if you’re among the first 100 qualifying respondents.

Start the Survey Now!

Your Feedback Drives Innovation

By sharing your experiences, you’re contributing to a broader conversation about the tools and technologies that support optometric practices. Your insights will not only help inform others in the industry but also guide future developments in practice management solutions.

Don’t miss this opportunity to shape the future of your field and earn a small token of appreciation in return.

Thank you for your participation and dedication to improving Canadian Optometry!

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Key Tax Deadlines

Finance|Wealth, Tax & Legal Matters

As the 2024 tax season approaches, it’s essential for Canadians to be aware of key dates to ensure a smooth and timely filing process. Here are some important deadlines to keep in mind.

RRSP Contribution Deadline

You have 60 days into the new year to contribute to your Registered Retirement Savings Plan (RRSP) for the prior tax year. For the 2024 tax year, this deadline is March 3, 2025.

RRSP contributions are one way to lower your current tax liability by deferring the tax on the contributions, and related growth from the corresponding investment, to a future tax year. This tax deferral is particularly beneficial if you anticipate to be in a lower tax bracket when you withdraw from your RRSP or Registered Retirement Income Fund (RRIF).

You can make these contributions to either your own RRSP or to a Spousal RRSP. Contributions to either account will impact your RRSP contribution room and your current personal tax liability. The use of the Spousal RRSP allows you to income split taxation on withdrawals, especially if you plan to withdraw prior to age 65.

Filing Deadline for Most Canadians

The deadline to file your tax return and pay any balance owing to the Canada Revenue Agency (CRA) is April 30, 2025 for most Canadians. Filing on time helps you avoid late-filing penalties and interest charges, especially if you have amounts owing.

Filing your tax return also helps to ensure that you receive any government benefits due to come to your way.

Self-Employed Individual Filing Deadline

If you or your spouse or common-law partner are self-employed, you have until June 15^th of the following year to file your tax returns. For the 2024 tax year, you get a bonus day, June 16, 2025, since June 15 is a Sunday.

Keep in mind however that any balance owing must still be paid by April 30, 2025, to avoid interest charges.

Instalment Payments

If you had to pay more than $3,000* in taxation in either of the prior two calendar year filing periods AND you anticipate that your current tax year will also result in tax owing of more than $3,000*, you will be required to make quarterly instalment payments.

There are three options to calculate the amount per tax instalment needed, but remember that the first instalment for the current tax year is due March 15^th, about 6 weeks prior to tax filing deadline. Therefore, it’s important to review your taxation with your accountant early to avoid interest charges and possible penalties.

Remaining installments are due June 15, September 15 and December 15, or the next business day following if it occurs on a Saturday, Sunday or public holiday recognized by the CRA.

*Calculated as the “Net Tax Owing” on your tax return. This amount is $1,800 for residents of Quebec.

FHSA Contributions

Though too late for the 2024 tax year, a contribution to a First Home Savings Account in the current tax year can also decrease your taxable income.

In addition to the current year tax savings, there is no tax applicable to an eligible withdrawal of your contributed amount or the growth of the investment. This is a great account registration to save for your first home for those that qualify.

Trust Income Tax Return (T3)

For trusts, the income tax return and payment are due within 90 days after the trust’s tax year-end. If you think you may be required to file a T3 in a bare trust situation, be sure to confer with your accountant as the penalties can be harsh.

Conclusion

Staying informed about these key tax dates can help you avoid penalties and ensure you receive any benefits or credits you are entitled to.

Having conversations early in the tax filing period with your financial advisor to review the impact of additional RRSP contributions can help mitigate your overall tax bill for the prior year. Understanding when an RRSP contribution makes sense is part of how we empower you to make smart financial decisions that align with your goals today and tomorrow. Contact us at 780-261-3098 or email (Roxanne@C3wealthadvisors.ca) to set up your next conversation.

Roxanne Arnal is a CFP^®, former Optometrist, Professional Corporation President, and practice owner. Today she is on a mission to Empower You & Your Wealth with Clarity, Confidence & Control.

These articles are for information purposes only and are not a replacement for personal financial and tax planning. Individual circumstances and needs vary. Tax strategies should also be discussed with your tax accountant and lawyer. Errors and Omissions exempt.

ROXANNE ARNAL,

Optometrist and Certified Financial Planner

Roxanne Arnal graduated from UW School of Optometry in 1995 and is a past-president of the Alberta Association of Optometrists (AAO) and the Canadian Association of Optometry Students (CAOS). She subsequently built a thriving optometric practice in rural Alberta.

Roxanne took the decision in 2012 to leave optometry and become a financial planning professional. She now focuses on providing services to Optometrists with a plan to parlay her unique expertise to help optometric practices and their families across the country meet their goals through astute financial planning and decision making.

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Abandoned at the Altar

Real Estate

Reader Caution – this article is littered with marriage and dating analogies!

We’ve all seen romantic comedy movies with a runaway bride scene. But there have been many runaway grooms as well.

The reality is, when you put a ring on your finger, you are betrothed, and all your eggs are in now in one basket. You book the wedding venue, line up the officiant—whether that’s a priest, rabbi, cleric, or someone else—and then gather all your friends and family for the big day.

You select a banquet facility, spend tens of thousands on catering, beverages, the band, and copious decorations to prepare for the special day.

Average (first) wedding cost today (Canada) is ~$30,000.

And then the bride or groom bolts at the last minute.

To clarify, I’m now inter-changing analogy between business transactions and weddings. Many of our clients come to us after being left at the altar.

It typically starts with someone they know or someone who has approached them privately, telling them beautiful and convincing stories about how they want to acquire the business.

Because there was a casual pre-qualification from a lawyer, accountant, banker, or colleague, the normal cautionary business practices tend to be abandoned in these situations. Your guard is let down momentarily, and you go on the first date with little forethought.

The courtship began prematurely.

Once that bride or groom—otherwise known as the only person at the dance—knows they have your attention, and when their advisors also know that they are your sole option, the process will invariably slow to a grinding halt.

The wedding date gets delayed—many times in most instances.

Then, more questions are asked, questions that weren’t covered at the start.

You soon learn that you jumped too quickly and should have taken more time during the initial phase (the courtship).

It’s usually the third-party advisors slowing the process – they are paid by time and not success.

As the seller, you believe the buyer’s intentions remain legitimate, thus you let the process continue—after all, you haven’t incurred any significant costs at this point.

What’s a minor delay here and there? You’ve been waiting 20 or 30 years for this moment.

Then it happens. The penny drops.

Suddenly, absurd conditions or outright insults—whether intentional or not—start flying, because the buyer and their advisors know they are the only ones you’re dealing with.

I can’t tell you how many times people come to us with their heads hung low, saying, “I should have listened to you. I shouldn’t have put all my eggs in one basket, but I did.”

Thankfully, it didn’t cost them too much.

But what are the costs they managed to avoid? Initially, it may seem like they saved on an appraisal fee or broker commission. And that is not insignificant.

And since the relationship started with incredibly good intentions, which certainly appeared genuine and sincere at the time, the legal fees weren’t too bad.

But now you must start over again. And because the market is more powerful than any one individual can match, you will now incur the normal costs involved with the disposition of a professional practice. The appraisal and brokerage fee plus proper legal and accounting advice.

If you were on a sensitive timeline, you are now in an unbelievably dire situation.

If I am approached by a buyer who impresses me with genuine motives and good intentions, I will enter a discussion with them. It will be investigative in nature, not romantic!

I will also put them on a noticeably short leash.

That means I’ll give them 30-45 days (post-appraisal) before I list with the broker and go to market – and leverage the influence of multiple buyers. The first buyer can stay in the competition but now they have competition!

Please don’t get left at the altar.

It’s very embarrassing to be standing there, all alone, with a ring in your hand with all your friends and family watching.

JACKIE JOACHIM

Jackie has 30 years of experience in the industry as a former banker and now the Chief Operating Officer of ROI Corporation. Please contact her at Jackie.joachim@roicorp.com or 1-844-764-2020.

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Specsavers Named as One of the Best Places to Work in the World

sponsor, Sponsored Posts

Fortune Magazine and Great Place to Work® selected the optical and audiology business from a list of organizations that took part in the Great Place to Work’s employee survey process, with 7.4 million responses received, representing 20 million employees worldwide.

“This is an incredible achievement, and it is a credit to all our colleagues and partners who work hard to make Specsavers such a great place to work. I could not be prouder. Our ranking among so many other brilliant organizations on this list continues to drive our ambition in making life at Specsavers truly special,” says John Perkins, Specsavers CEO.

To be considered for the list, companies must be identified as outstanding global employers with recognition on at least five Best Workplaces^TMlists from across the world in 2023 or early 2024.

Colleagues said the opportunities offered to develop and grow as well as the culture and level of care for employees were the main reasons for rating the business so highly.

“We’re very proud to be named as one of the world’s best workplaces,” said Bill Moir, Managing Director, Specsavers Canada. “This global recognition reflects Specsavers’ commitment to putting its people first, which has been the foundation of our successful growth in Canada. People have, and always will be, at the heart of everything we do at Specsavers.”

Specsavers was recognized in Canada’s Best Workplaces™ List for 2024, including additional awards for best workplace in retail/hospitality, for women and for giving back. Since arriving in Canada in late 2021, the company continues its rapid growth across the country, providing career and business ownership opportunities in Ontario, Manitoba, Alberta, and British Columbia.

With over 135 locally owned Specsavers locations in Canada, the company employs more than 1,500 people and has more than 300 independent optometrists in its network.

Organizations like Specsavers are assessed on their efforts to create great workplaces and positively impact people and communities across multiple countries around the world.

Start your business with the support of Specsavers. Search available locations.

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Tax Tips for Year End…and Beyond

Finance|Wealth, Tax & Legal Matters

Tax planning is a vital part of managing your financial health, and it doesn’t need to wait until the year-end rush. Incorporating strategic tax-saving measures throughout the year can lead to significant benefits. Here are some practical tips for managing your finances with tax efficiency in mind.

Review Your Capital Gains and Losses Strategy

Offset Gains with Losses: If you’ve realized capital gains, consider triggering capital losses to offset them. This can help avoid higher tax rates, especially for gains incurred after June 25, 2024, where gains over $250,000 are taxed at a higher 66.7% inclusion rate*.
Corporate Impacts: For corporations, managing capital gains* is crucial to avoid surpassing the $50,000 passive income threshold, which can claw back your small business deduction (SBD). Offsetting gains with losses could save up to 12% in taxes on active business income for those in Alberta for example.
Carry Forward or Back: Capital losses can be applied to the current year, carried back three years, or carried forward indefinitely.
Business Sales: If you’re selling a business, consider spreading the taxable gain over five years using the capital gains reserve, especially if a sale of qualified shares exceeds your Lifetime Capital Gains Exemption (LCGE).

Explore Allowable Business Investment Losses (ABILs)

ABILs apply to losses from disposing of shares or debts in a Canadian-controlled private corporation (CCPC). These losses can offset any income type, providing more flexibility than regular capital losses. Ensure the loss meets CRA criteria.

Make Tax-Efficient Charitable Donations

Donate Appreciated Securities: Donating investments with significant gains allows you to avoid capital gains tax while receiving a tax credit.
Corporate Donations: Corporations donating in-kind securities benefit even further. On top of the donation receipt the corporation will receive, 100% of the capital gain gets notated to the capital dividend account (CDA).

Optimize Registered Accounts

Tax-Free Savings Account (TFSA)

Planning a withdrawal? Do it before year-end to restore contribution room on January 1.

First Home Savings Account (FHSA)

Open an FHSA before year-end to generate $8,000 of contribution room which can be carried forward a year.
Accelerate your home savings by contributing to your FHSA before year end to reduce your 2024 taxable income.

Registered Education Savings Plan (RESP)

Maximize the Canada Education Savings Grant (CESG) by contributing at least $2,500 per child. Catch up on unused grant room if available.

Plan RRSP Contributions and Withdrawals

Contribution Deadline: The RRSP contribution deadline for the 2024 tax year is March 3, 2025.
Spousal RRSPs: make contributions before year-end to reduce the time needed to clear income attribution rules on withdrawals.
Age Considerations: If you turn 71 this year, ensure you roll your RRSP over to a RRIF prior to year end. Consider making an advanced contribution to your RRSP prior to conversion if you will generate additional room for 2025. Remember, over contributions are subject to penalty, but this overcontribution will only last until January 2025.

Manage Non-Deductible Debt

A debt-swap using income-earning investments can help you save money by converting non-deductible interest (eg., on mortgages or consumer debt) to deductible interest.

Identify Income-Splitting Opportunities

Prescribed Rate Loans: Consider a prescribed-rate loan to a spouse or common-law partner. The 2024 prescribed rate is 5%. Ensure proper documentation and timely interest payments.
Second Generation Income: Monitor assets gifted to family members, as income attribution rules don’t apply to second-generation income.

Optimize Corporate Ownership Strategies

Tax-Efficient Loans: If your corporation provides no or low interest loans to employees or shareholders, the 2024 taxable benefit rate is 5%.
Deferred Bonuses: Declaring bonuses in 2024 you can defer payment up to 180 days, permitting a personal tax deferral to 2025.
Compensation Mix: Review your mix of salary and dividends. Dividends can be further classified into eligible, ineligible, and capital for tax efficiency.

Shareholder Loan Repayments: Repay loans borrowed from your corporation within the two-year window to avoid inclusion in personal income.

Final Thoughts

Tax planning isn’t just a year-end activity; it’s a year-round process that integrates your business and personal financial goals. Reviewing these strategies with your financial planner, tax accountant, and lawyer ensures alignment with your unique situation. Small adjustments today can yield significant long-term benefits, so start your planning early and review it often. Contact us at 780-261-3098 or email (Roxanne@C3wealthadvisors.ca) to set up your next conversation.

*note that this tax change has not yet been made into law. The 66.7% inclusion rate also applies to all corporate capital gains and losses as of June 25, 2024.

Roxanne Arnal is a CFP®, former Optometrist, Professional Corporation President, and practice owner. Today she is on a mission to Empower You & Your Wealth with Clarity, Confidence & Control.

ROXANNE ARNAL,

Optometrist and Certified Financial Planner

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Waterloo Eye Institute Event Showcases Cutting-Edge CE and Trade Exhibit

Career Options, NextGenOD

From November 15 to November 17, the Waterloo Eye Institute (WEI) hosted an exceptional event in Markham, Ontario, offering an engaging mix of continuing education (CE) and industry networking opportunities for optometric professionals. Over three days, attendees participated in 20 hours of COPE-accredited CE sessions for optometrists and 6 hours of tailored CE programming for optometric assistants.

The event also included a three-hour trade show on Saturday, featuring more than 30 industry-leading exhibitors showcasing the latest innovations in eye care products and technologies. NextGEN OD Canada Student Ambassadors attended the show

Highlights from the Distinguished Lecture Series

Dr. Etty Bitton: On Friday, Dr. Etty Bitton delivered the prestigious Woodruff Distinguished Lecture, presenting on the differential diagnosis of anterior blepharitis.

A celebrated expert in tear film physiology and dry eye, Dr. Bitton holds a Doctorate in Optometry from the University of Waterloo and a Master’s in Physiological Optics from the Université de Montréal. Currently a full professor and director of the Dry Eye Clinic at the École d’optométrie, she has been a leader in dry eye research and a contributor to global initiatives like TFOS DEWS II. Her presentation was a tribute to Dr. Emerson Woodruff’s legacy, whose contributions helped shape optometry education and research at the University of Waterloo.

Dr. Donald Hood: On Saturday, Dr. Donald Hood took the stage to deliver the 33rd Bobier Distinguished Lecture, titled A Novel Approach to Identifying Glaucoma Based on a Large Real-World OCT Database from Optometry Cases.

Dr. Hood, Professor Emeritus at Columbia University, is a renowned figure in retinal and optic nerve disease research, with nearly 400 publications and numerous accolades, including an honorary degree from SUNY College of Optometry. His lecture honored Dr. Clair Bobier’s pioneering vision for integrating scientific research into optometry education, further solidifying the importance of evidence-based practice in the profession.

Networking and Innovation at the Trade Show

Saturday’s trade show provided a bustling platform for attendees to explore cutting-edge technologies and services from over 30 exhibitors. This interactive session fostered connections between practitioners and industry leaders, further supporting the WEI’s mission of advancing patient care and optometric education.

NextGEN OD Student Ambassadors, Sara Baig and Shreya Jain, supported Clinical & Refractive Optometry during the 3-hour trade show.

Engaging Panel Discussions

The event concluded on Sunday with a dynamic “Rapid Fire Panel Discussion” on advanced scleral imaging and specialty contact lens technology. Moderated by Drs. Chelsea Bray, Shalu Pal, and Vishakha Thakrar, the panel provided practical insights and innovative approaches to enhancing patient outcomes through emerging lens technologies.

Looking Ahead

The success of the WEI’s November event underscores its commitment to fostering collaboration, education, and innovation within the optometric community. With initiatives like these, the WEI continues to pave the way for advancements in vision science and patient care, benefitting practitioners and patients alike across Canada.

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Why Elevating Your Emotional Intelligence Enables You to Provide Superior Client Service

Human Resources, Training & Onboarding

In the service-oriented world of business, exceptional client service is vital. While technical expertise is important, the ability to connect with clients on an emotional level is what truly sets you apart. Emotional intelligence (EQ) is key to building these meaningful connections. By enhancing your EQ, you not only improve your professional abilities but also elevate the quality of service you deliver to your clients. Here’s how developing EQ leads to better client service:

Enhanced Decision-Making for Client Needs

When you possess high EQ, you excel at making decisions that are both rational and emotionally attuned to your clients’ needs. By understanding their emotions and concerns, you can offer solutions that are not only effective but also resonate with them on a personal level. This fosters stronger client relationships and increases satisfaction, as clients feel heard and valued.

Improved Client Relationships

Building and maintaining strong client relationships is essential for long-term success. High EQ allows you to connect with clients on a deeper level, fostering trust and mutual respect. When clients feel understood and appreciated, they are more likely to remain loyal and refer others to your services. Demonstrating empathy and understanding consistently creates a positive and memorable client experience.

Increased Adaptability to Client Expectations

Client needs and expectations can change rapidly. Emotional intelligence provides the flexibility needed to navigate these changes effectively. Whether it’s adjusting to evolving requirements or handling unexpected challenges, high EQ enables you to stay calm, responsive, and solution focused. This ensures that clients receive the best possible service, regardless of the circumstances.

Enhanced Communication with Clients

Effective communication is the foundation of excellent client service. With high EQ, you can convey your ideas clearly while understanding the emotions and concerns behind your clients’ words. This ensures that your communications are not only clear and concise but also empathetic and supportive, leading to better outcomes and stronger client relationships. Enhanced listening skills, a core component of EQ, help you fully understand your clients’ needs and respond in ways that meet their expectations.

Better Stress Management for Client Satisfaction

Managing stress is crucial when working closely with clients, especially in high-pressure situations. High EQ equips you with the tools to manage your emotions, allowing you to stay composed and focused when challenges arise. This calm demeanor reassures clients, contributing to a positive experience and enhancing their overall satisfaction with your services.

Delivering Consistent, High-Quality Service

By elevating your EQ, you position yourself to deliver consistent, high-quality service that meets or exceeds client expectations. The ability to manage relationships, adapt to changing needs, and communicate effectively ensures you can provide tailored solutions that genuinely benefit your clients. Consistency in service delivery not only strengthens client loyalty but also enhances your reputation as a reliable and professional service provider.

Elevating your emotional intelligence isn’t just about personal or professional growth—it’s about providing the best possible service to your clients. By improving your decision-making, communication, adaptability, and stress management, you offer a level of service that stands out in today’s competitive market. This professional edge keeps clients satisfied, loyal, and willing to refer others to your business.

Ready to elevate your client service to the next level?
Visit www.emotionalintelligenceconsultinginc.com to explore available trainings and discover how enhancing your EQ can transform your client interactions and boost your business success. Don’t just meet expectations—exceed them with the power of emotional intelligence.

Jade Bodzasy

Jade Bodzasy, Founder of Emotional Intelligence Consulting Inc., is a dedicated Coach and Consultant for Optometric Practices. Her extensive background includes over 20,000 hours of expertise focused on customer relations, work structure refinement, training method development, and fostering improved work culture within Optometric practices.

Certified in Rational Emotive Behavior Techniques (REBT), Jade possesses a unique skillset that empowers individuals to gain profound insights into the origins of their behaviors, as well as those of others. Leveraging her certification, she equips optometry practices with invaluable resources and expert guidance to establish and sustain a positive, healthful, and productive work environment.

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Selling What Customers Want vs. What They Need

How to Discover the Customer’s Want

The Role of Image in Optical Retail

The Difference Between Customer Service and Serving the Customer

How to Build Lasting Customer Loyalty

Inspiration vs. Manipulation: The Key to Long-Term Success

Final Thoughts: The Revenue RX Formula for Customer Connection

Joseph Mireault

The Power of Listening in Sales

How Small Talk Can Make or Break a Sale

Reading Your Customer: The First Step to Better Communication

Why Optical Retail is About Image, Not Just Vision

Making People Feel Special: The Secret to Loyalty and Referrals

Tune In to Learn More!

Joseph Mireault

The Optometrist’s Role in Retail: A Reality Check

Reframing the Optometrist’s Role: The Service Process

Joseph Mireault

Why Participate?

How to Get Involved

Your Feedback Drives Innovation

Thank you for your participation and dedication to improving Canadian Optometry!

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Conclusion

ROXANNE ARNAL,

And then the bride or groom bolts at the last minute.

Please don’t get left at the altar.

JACKIE JOACHIM

ROXANNE ARNAL,

Highlights from the Distinguished Lecture Series

Networking and Innovation at the Trade Show

Engaging Panel Discussions

Looking Ahead

Enhanced Decision-Making for Client Needs

Improved Client Relationships

Increased Adaptability to Client Expectations

Enhanced Communication with Clients

Better Stress Management for Client Satisfaction

Delivering Consistent, High-Quality Service

Jade Bodzasy