Questions? Thoughts? Send a Text to The Optometry Money Podcast!

Dr. Nick Lillie joins Evon to talk about all the lessons he's learned from 10 years of practice ownership.

Dr. Lillie owns Family Vision Optical in Allendale, Michigan, and hosts the Optometry: The Ultimate OD Podcast.

He talks about lessons learned from cold-starting an optometry practice, how to build the team, how he's approaching adding an associate, when to add a specialty to the practice, and so much more. He has a great mind for business and optometry, and there's something to learn for both established owners and optometrists just thinking about getting into private practice.

Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at [email protected].

Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps ODs nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow, build their net worth, and monitor the ongoing health of their finances. 

Resources Mentioned in the Show:

• Family Vision Optical
• Optometry: The Ultimate OD Podcast
• Book: Made to Stick
• The Optometry Money Podcast Ep. 6: Navigating Associate Contracts, Practice Ownership, and Partnerships with Dr. Chad Fleming

The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

Is it possible to build a specialty-focused cold-start optometry practice? Do you need to take insurance or have an optical?

Dr. Miki Lyn Zilnicki and Dr. Jessica Licausi join Evon to talk about how they built their cold-start optometry practice, Twin Forks Optometry. What's fascinating about their practice is it's been a pure specialty practice focused on vision therapy from day one. They've never had an optical and take very few insurance plans. Seven years later, the practice continues to thrive. 

They walk through how they had such a clear vision for their practice, how they grew the business, and lessons they learned through the process. There's a lot to take away whether you're an optometrist thinking about cold-starting or already opened your doors and are thinking about what's next. 

Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at [email protected].

Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps ODs nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow, build their net worth, and monitor the ongoing health of their finances. 

Resources Mentioned in the Show:

• ROB Article: Specialized Care + Patient Financing = Thriving Despite a Pandemic
• Twin Forks Optometry & Vision Therapy
• Vision is More Than 20/20 Podcast
• The Optometry Money Podcast Ep.6: Navigating Associate Contracts, Practice Ownership, and Partnerships with Dr. Chad Fleming

The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

What is disability insurance? Why is it important for optometrists? How does it work?

May is Disability Insurance Awareness Month! David Bennis, Income Protection Consultant at Truluma, joins Evon to have a deep-dive conversation on how to protect your income from disability. After all, your income is your biggest asset.

David and Evon talk about why disability is an import part of every optometrist's financial planning, the different features to consider in your policy, how individual coverage works with group coverage, and specific disability insurance planning considerations for optometry practice owners.

David brings many years of experience to a conversation you're sure to take a lot from.

Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at [email protected].

Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps ODs nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow, build their net worth, and plan purposefully around their money and their practices. 

Resources Mentioned in the Show:

• David Bennis Trulumus contact information

The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

How should associate optometrists prepare to become practice owners? When should practice owners bring on associates and co-owners into their optometry practice? How do you evaluate a potential partner?

Dr. Chad Fleming, OD, FAAO joins Evon on the show to talk about those questions and more. Dr. Fleming brings 20 years experience as an OD and practice owner to the conversation. He and Evon dive into contract negotiations, deciding whether to become a practice owner or build a career as an associate, how to prepare for life as an owner, when it makes sense to bring on associates, and how to evaluate a potential co-owner - all from the perspective of both the associate and the current owner.

It's a jam-packed episode, with so much to learn for both current practice owners as associates. Dr. Fleming brings so much wisdom to these topics and super thoughtful answers to the questions.

Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at [email protected].

Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps ODs nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow, build their net worth, and plan purposefully around their money and their practices. 

Resources Mentioned in the Show:

• Review of Optometric Business - Practice Ownership: Is it as Good as You Thought It Would Be? 
• Wichita Optometry
• OptometryCEO/Partners in Profit
• Chad's Email: [email protected]
• Scaling Up: How a Few Companies Make It...and Why the Rest Don't by Verne Harnish
• Blog: Why Optometric Practice Owners Should Pay Themselves a Market-Based Wage
• Blog: Should You Own an Optometry Practice or Stay an Associate? There's Freedom Down Both Roads

The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

Where are the bottlenecks in your optometry practice? How do you uncork them?

On the latest episode of The Optometry Money Podcast, Perry Brill talks about this and much more. Perry has several years of experience managing the operations of a successful private optometry practice, to go along with years of experience and great insights on eye care technology and marketing. Perry dives into practice operations and bottlenecks, what the future holds for eye care technology and marketing, and what areas practice owners can consider outsourcing.

Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at [email protected].

Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps ODs nationwide master their cash flow, build their net worth, and plan purposefully around their money and their practices.

Resources Mentioned in the Show:

• Eyetrepreneur Website
• Eye Help You - Virtual Staffing for Eye Care
• Tango
• Scribe How
• Loom
• Thumbtack

The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

What are the steps to launch a successful optometry cold-start practice?
 
 Erich Mattei, President and Chief Vision Officer of Akrinos, joins Evon to dive into that question and more. Erich shares whether there are still opportunities for optometry cold-starts in today's environments, the steps in the cold-start process from idea to doors open, how to prepare for practice financing, what to look for in the practice location, what a successful launch looks like, and action items to work on after the episode.

Erich is a wealth of knowledge on the topic, and provided so much information on what goes into a successful optometry cold-start. If you're an optometrist thinking about launching your own private practice, you recently opened your doors, or if you know of a peer who is, this is an episode you don't want to miss!

Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at [email protected].

Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps ODs nationwide master their cash flow, build their net worth, and plan purposefully around their money and their practices.

Resources Mentioned in the Show:

• Akrinos Website
• Erich Mattei LinkedIn
• Akrinos Ebook - The Practice Launchpad
• US Bureau of Labor Statistics
• Data - U.S. Census Bureau

The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

Cold-starting an optometry practice can be one of the most rewarding and challenging experiences for an optometrist. What does it take to be successful from the beginning?

Evon dives into 3 factors that can make or break your cold-start before it even begins.

Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at [email protected].

Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps ODs nationwide master their money, build wealth, and plan purposefully around their finances.

Resources mentioned in the show:

Blog: 3 Factors That Can Make or Break Your Optometry Cold-Start
Blog: Should You Own an Optometry Practice or Stay an Associate? There’s Freedom Down Both Roads

The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

What do you need to plan for if you're a 1099 independent contractor optometrist?

Evon dives into some of the financial and tax planning considerations for 1099 independent contractor ODs. Taxes, benefits, retirement plans, and more! There are definitely some differences from traditional W2 employment you won't want to miss.

He also goes over some financial planning steps and action items to keep in mind as you go this route in your optometry career.

Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at [email protected].

Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps ODs nationwide master their money, build wealth, and plan purposefully around their finances.

Resources mentioned in the show:

Optometry Wealth Advisors Blog: Should Optometrists Work as 1099 Independent Contractors?
IRS Form 1040-ES Estimated Tax for Individuals
IRS Tax Withholding Estimator
IRS Independent Contractor (Self-Employed) or Employee?

The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

Welcome to the first episode of The Optometry Money Show, a podcast dedicated to helping optometrists nationwide make better and better decisions around their money, careers, and practices! Evon gives a short intro to the show, talks about what to expect, the topics he'll cover, his focus on ODs in the first half of their careers, and more. 

To learn more about Evon, his financial planning firm Optometry Wealth Advisors, or for more educational resources, visit his website at www.optometrywealth.com.

Any questions or ideas for what you want covered on the show? Shoot Evon an email at [email protected]. 

The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.