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.