Episode #127

20/20 Money Episode #127 – Why “intentionality” is key to building a practice that serves you: my guest appearance on the IDOC Focal Point podcast

April 12, 2021

On this episode of 20/20 Money! My guest on today’s show is…me! This is a different solo episode of sorts, because it’s actually the interview that I did for IDOC’s Focal Point Podcast, hosted by Dr. Steve Vargo, OD. If you’re interested in subscribing to Focal Point Podcast, the link is in the show notes of this episode.

On this episode, Steve asked me to talk about how business and personal planning are integrated and why it’s important to understand and be able to answer the question “In service of what?” and “What are you solving for?” when structuring your practice. We also talk about a very impactful tax planning strategy that can potentially save and/or defer practice owners tens if not hundreds of thousands of dollars in taxes in the year they sell their practice and the timeline to be aware of if you consider this strategy.

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.

Start Planning Today

Don’t miss out on exclusive access to financial tips, strategies, and expert-led webinars. Subscribe to the “Planning Life, On Purpose” newsletter today and stay ahead of the planning curve!

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

Episode Transcript

Enjoy our content? Subscribe for regular updates!

Related Podcasts

  • Practice Management
How successful practice owners actually become wealthy

A profitable practice can create tremendous cash flow—but it does not automatically create personal wealth. In this episode of 20/20 Money:…

  • Practice Management
What every seller needs to know before selling their practice

A practice sale that should have been the easiest transition imaginable ended before negotiations even began—and the lessons could save…

  • Practice Management
Your Practice Doesn’t Need More of Your Time — It Needs Better Use of It with Nathan Hayes

What if the next level of your practice requires less time in the lane — not more? In this episode…

  • Practice Management
A simple introduction to AI for optometry practice owners: a practical conversation with Dr. Mick Kling

AI can feel overwhelming, overhyped, and impossible to keep up with — especially when every conversation seems to swing between…

  • Practice Management
Optical isn’t dead – but the way you are running it is with Dr. Jennifer Stewart

What if the biggest reason patients aren’t buying glasses from your practice… is the experience you’ve unintentionally created around optical?…

  • Practice Management
Why some dry eye practices thrive-and others quietly fail with Dr. Chris Wolfe

What if the biggest mistake practice owners make with dry eye isn’t buying the wrong technology… but building their entire…