20/20 MONEY: The Business of Optometry

On this episode of 20/20 Money I talk about a new way to think about asset allocation and diversification as a practice owner and how a twist on the concept of asset location can have a significant impact on the overall value of your retirement portfolio. As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. If you're interested in providing feedback on today's topic or having a question and featured on a future "mailbag" episode of 20/20 Money, you can submit it here. You can either include your name or submit anonymously. Please keep your questions short and to the point. Sometimes writing it down beforehand can help. Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

On this solo episode of 20/20 Money I will be explaining the process of gifting of assets to your children, strategies to employ including an UTMA account, and the impact those gifts will have on you, both now and 5-10 years down the road. As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. If you're interested in having your question and your voice featured on the 20/20 Money podcast, you can submit it here. You can either include your name or submit anonymously. Please keep your questions short and to the point. Sometimes writing it down beforehand can help. Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to another episode of 20/20 Money! My guests on today's show are Dr. Gina Wesley and Nathan Hayes. Gina owns her very successful private practice in Medina, MN and Nathan is the practice finance consultant with IDOC, and I'm really excited for this conversation for multiple different reasons. Today's show is taking on the format of a case study. Specifically, the subject of today's show is actually based on a potential relationship that reached out to our firm back in 2020. I'll spend the first part of the episode sharing the anonymous details about this practice. From there, Nathan, Gina, and I engage in a great conversation, providing real-time, practical suggestions and ideas on how this practice owner can improve the profitability and thus the take-home income from the practice. If you find yourself resonating with the practice that we discuss today and are starting to realize that you may be more in need of a practice management consultant instead of a comprehensive financial planning firm that specializes in serving optometrists, I can't recommend Nathan and the team at IDOC highly enough as they've done a lot of great work over the years and have a wealth of knowledge in helping optometrists manage and grow their practice. Their work complements the work that we do as wealth advisors very well and it's been a pleasure and privilege to collaborate together over the years. As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy my conversation with Dr. Gina Wesley and Nathan Hayes. Emyth Revisited. Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher —————————————————————————————

On this episode of 20/20 Money, my guest on today's show is Dr. Jeremy Ciano, owner and founder of RevolutionEyes in Carmel, IN. Jeremy's been on the show in the past and episode #11 of 20/20 Money (back when it was called "The Dose") is still in the top 10 most downloaded episodes (link below). Jeremy joins us back on the show to talk about how his practice not only survived, but ended up thriving in 2020. Jeremy talks about how important culture was to him and his team, the strategies that they executed to meet patients where they were (in more ways than one) during the pandemic, and how he's thinking about strategic business decisions for 2021. As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy my conversation with Dr. Jeremy Ciano. Steven Covey Growing at the Speed of Trust Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

On this episode of 20/20 Money! My guest on today's show is my good friend Josh Bannerman, (a.k.a. the "OG" from the Stacking Benjamins podcast). Josh and I were talking the other night about the craziness that is going on in the markets recently. I got to thinking (after the conversation) that what we were just talking about would have made for a great episode for 20/20 Money. So, as good content creators do, Josh agreed to come on the show so that we could both talk about it and give you our perspectives. We start out by giving a brief backstory on what's caused the trading frenzy with GME and AMC, how to think about it as an investor, and how to put it all into perspective. Josh also shares an unfortunately very sad story about how a close friend of his (not me!) ended up with significant losses as a result of some very risky bets in the market…and what lessons we can learn from it. As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and other blog posts. And with that introduction, I hope you enjoy my lively conversation with my good friend, the OG! Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Jennifer runs a very successful private practice and also a successful sports vision practice in Connecticut. Long-time listeners will know that Jennifer's been on the show in the past and I was excited to have her back to talk through how she thinks about the KPIs (key performance indicators) of her practice, specifically around how they've increased their capture rate and second pair sales. In today's conversation we talk about how she's created a culture with her team to always strive for better, the language and scripting process she's used to help convey the benefit to patients, a key annual conversation that she has every year with an outside resource, the proactive steps that her team takes before the patient even steps foot into her practice, and many other great strategies that can help you improve a KPI that, in the end, will help you increase the profitability of your practice. As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy my conversation with Dr. Jennifer Stewart. GPN EdgePro Jerry Seinfeld Tim Ferriss Show Interview Jerry Seinfeld Pop Tart Joke Start with Why Simon Sinek Kinder Hall Professional Storytelling Ted Talk Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

On this episode of 20/20 Money! My guest on today's show is Dr. Chris Lopez, OD. Contrary to what you might believe, picking the right investment is not your greatest wealth creating tool. It's your income! Make sure that you know how to negotiate the right way and land the right job while also ensuring that it's a win for the owner of the practice. In this conversation, practicing OD and career and contract consultant Dr. Chris Lopez talks to us about how both associates and owners should think about both the hiring process and rates of pay for associates in a private practice. As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy my conversation with Dr. Chris Lopez. Book a call with Chris!! Email Chris!! Jerry Maguire - Help me help you video Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Welcome to the first episode of 2020 Money in 2021! On this episode, I'm going to share with you how I've implemented Strategic Coach's Entrepreneurial Time Management System and how I believe ODs can also benefit from this time management system, including how to think about the financials of your practice based on how you've budgeted your time throughout the year. As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions or check out any number of additional free resources like our eBooks and on-demand webinars. How to Stay Focused and Set Yourself Up for Success Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

On this episode, I talk with Dr. Ted McElroy. Ted has owned his practice for the last 27 years and is also a Vision Source Administrator for the southern part of GA and north-central part of FL. In today's episode, we use one of our clients as a case study that kicked off the process of hiring an associate in your practice—and hiring an associate that STAYS in your practice. Ted shares with us how he identifies and interviews associates in his practice, great questions to ask during the interview process, a simple exercise to help build trust with your existing team, and great questions to ask your team to give you feedback on how you can show up as a better leader in your practice. As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and invest wisely or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy my conversation with Dr. Ted McElroy. EyeCode Media Podcast Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Hey everyone, before we get into today's show, I wanted to let you know about an in-depth write-up I did on our website about the recently passed COVID-19 stimulus package and how it impacts optometrists. While at the time of this recording the Act has yet to be signed into law by President Trump and there seems to be a bit of volleying back and forth between the two branches of government about possible last-minute changes, I believe that the majority of the Act that would impact optometrists would stay intact. If you're interested in reading that write-up, click on this link or visit our website at www.integratedpwm.com and click on Learning Center. Now, for the last episode of the 2020, I wanted to share the most popular (as ranked by number of unique downloads) episode of the year. My conversation with Dr. Gina Wesley back in May was a conversation on how she uses her schedule to manage profitability in her practice. The original introduction for the episode is as follows: Gina joined the show to discuss various ways in which scheduling has impacted the profitability of her practice. We talked about the direct and indirect benefits of having a scheduling philosophy and why empowering your team is an important component to helping you manage an efficient practice. We also discuss the importance of communicating and setting expectations with patients and why it's important regardless of the type of exam or the journey that they went through (normal exam vs emergency vs walk-in). We also discuss one of the biggest culprits that exists in an office which can throw off the schedule (hint: it may or may not be who you think it is) and how you can fix that problem and we wrap up the conversation with her pre-appointing process and how online scheduling now plays an integral role in her recall process (including the strategic placement of her "Schedule Now" button based off the Z-pattern of how website visitors consume content). As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, manage cash flow, and make proactive money decisions that helps them live their "on purpose life." And with that introduction, I hope you enjoy the last episode of 20/20 Money IN 2020 and I look forward to continuing to connect with you in 2021! Start with Why by Simon Sinek Don Miller Story Brand Complete Eye Care of Medina Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!