Akrinos Cold-Start Corner Video Series Part 2: Financial Planning for Your Cold-Start Part 2/3
What are the financial planning issues you need to keep in mind when cold-starting a practice?
I recently joined Erich Mattei of Akrinos on their Cold-Start Corner’s Expert Series, talking all about financial planning for cold-start optometry practices.
In Part 2 in this 3-Part series, I talk about financial issues to plan for once you’ve opened your doors and in the early years. We dive into:
- Getting familiar with your financial statements and what’s happening in the business.
- Differences between cash flow and profit in the practice, and how important cash flow is.
- Importance of clean bookkeeping in the practice from doors open.
- Preparing for taxes and paying yourself as the owner.
- Potential tax opportunities in the early years
- And more!
Enjoy the video and reach out to us with questions. Don’t forget to watch Part 1 and keep an eye out for Part 3!
To learn a bit more about managing cash flow in the practice, check out our blog post The 4 Forces of Cash Flow in Your Optometry Practice.
Want to talk about the financial issues on your mind and see how we can help? Let’s chat! Schedule a no-commitment Introductory Call today.