We’ve been on a roll lately in having some of our past guests share more of their knowledge and today is no different. This episode is part one of a two-part conversation with Michael Pote. You may remember Michael from episode 8, where we talked about several areas of practice management and what his organization The Growth Cooperative is doing to help optometrists across the country. Today we talk about all things related to selling a practice, specifically from a seller’s perspective.
In this episode we discuss:
- Why selling isn’t an event, but rather a process and how it’s like selling a house.
- The two fundamental numbers that must be improved to improve the evaluation of your practice.
- The necessity for good reporting tools and being able to dive into practice data, and the difference it makes with a buyer.
- Michael shares a story about a practice that was $1.4M in gross revenue, and why there was a 220k difference between what the doctor THOUGHT he was earning versus what his practice showed.
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