Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Steve Vargo. Steve joins me back on the show to talk about a certain growing pain that practice owners may eventually find themselves in and that’s the idea of adding an associate to their practice.

 

We tackle this conversation from two different viewpoints—the qualitative (“Is my practice ready for an associate?”) and qualitative (“Do I want an associate and what am I solving for in my practice by adding an associate?”). We then dive into the details of how to craft a unique job description, where to list and recruit associates, and how to think about the math and ROI of an associate in your practice as it relates to compensating them fairly and competitively.

 

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, be sure to subscribe to our newsletter and 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, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, 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.

 

And with that introduction, I hope you enjoy my conversation with Dr. Steve Vargo.

 

IDOC

Eyes On Eyecare (formerly New Grad Optometry/Covalent Careers)

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!