I was very pleased to take on the task of reviewing this book as I support Starkey’s Business Development Partnership Programme set up to support the UK and Irish Independent sector and to encourage audiologists to run their own businesses.
Although the book is written from a US perspective, 90% of the content can be applied to the UK and Irish markets and is very relevant to the challenges of today. The book contains 19 chapters over 539 pages and is written in a textbook style, with quotes and references from experts on the subjects discussed. The chapters are organised to follow a logical order of thinking in relation to setting up and running an independent hearing aid retail business.
The book is very detailed and focuses on influential strategic writing about the core subjects, then relating them to the private audiological market in the US. This gives the reader a much broader understanding of the different decisions that can be taken, depending on the exact market conditions.
Importantly, the reader also gets a working knowledge of the fundamentals of each subject, allowing them to understand how decisions may have to change if conditions alter.
For me, the best chapters of the book cover what considerations need to be made when putting together a business plan (including profit and loss forecasts) for a new audiological shop and then understanding the fundamentals of marketing and growing that new company. Potential new business owners would have more successful starts and stronger future businesses if they had a better understanding of these areas and had a clear image of their unique selling proposition so they could promote this differentiation to their potential customers.
The book is of interest to anyone thinking about running their own private retail practice and covers all of the areas where critical decisions will need to be made. The book requires not only an investment in its retail price but also time. However, I think this book gives a strong positive return.
My only recommendation to the authors would be to consider producing a smaller, more precise version, leaving out some of the strategic theory - this will increase its demand.