loader from loading.io

Private equity and optometry: a 2021 update with Michael Pote with Growth Cooperative

20/20 MONEY

Release Date: 08/02/2021

Why the backdoor Roth IRA matters for optometrists show art Why the backdoor Roth IRA matters for optometrists

20/20 MONEY

Welcome to this episode of 20/20 Money! We’re 150+ episodes into this podcast and this was the first episode we’ve dedicated to the “backdoor Roth IRA!” In this episode I’ll discuss the strategy, when you need to utilize it, mistakes that we’ve observed throughout the process, and the future of the backdoor Roth IRA.   As a reminder, you can get all the information discussed in today’s conversation by visiting our website at and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also to learn a little bit more about how we help...

info_outline
Creating a win-win: Associate comp structures that work in optometry practices show art Creating a win-win: Associate comp structures that work in optometry practices

20/20 MONEY

Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes. This conversation is a follow up to the episode that Nathan and I did around partnership compensation structures. In that episode, Nathan in passing made a couple of comments around associate compensation structure and the feedback we received from that episode around that specific topic warranted its own show. In this episode, we talk about making sure that associates understand and acknowledge that there’s risk in employing an associate, how to think about the demand of the schedule, give a range of market...

info_outline
The AOA changed their disability and life insurance group plan...here's what you need to know show art The AOA changed their disability and life insurance group plan...here's what you need to know

20/20 MONEY

https://integratedpwm.com/152

info_outline
Adding an associate: why, when, and how with Dr. Steve Vargo, OD show art Adding an associate: why, when, and how with Dr. Steve Vargo, OD

20/20 MONEY

https://integratedpwm.com/151

info_outline
Rewind: 5 Reasons Why I Don’t Like SIMPLE IRAs for Optometry Practice Owners show art Rewind: 5 Reasons Why I Don’t Like SIMPLE IRAs for Optometry Practice Owners

20/20 MONEY

https://integratedpwm.com/150

info_outline
Systematizing to Specialize with Jen Goldman show art Systematizing to Specialize with Jen Goldman

20/20 MONEY

https://integratedpwm.com/149

info_outline
Why you need to learn how to read your statement of cash flow show art Why you need to learn how to read your statement of cash flow

20/20 MONEY

Welcome to this episode of 20/20 Money! Back with me on today’s episode is Nathan Hayes with IDOC.   The genesis for this episode stems from a slight digression we had on a previous conversation around the importance of understanding cash flow in your business, specifically as it relates to reading and understanding your statement of cash flow that you can pull from your accounting software. Nathan and I talk about why the profit loss is important but it’s not everything in your practice, the pitfalls that partnerships need to be wary of when determining partner compensation, the...

info_outline
Rewind: Adding an associate: Understanding marginal chair cost to leverage your practice show art Rewind: Adding an associate: Understanding marginal chair cost to leverage your practice

20/20 MONEY

https://integratedpwm.com/147

info_outline
A deeper dive into understanding life insurance options with Ed Wildermuth, CFP® CPA show art A deeper dive into understanding life insurance options with Ed Wildermuth, CFP® CPA

20/20 MONEY

https://integratedpwm.com/146

info_outline
So you bought some whole life insurance…now what? show art So you bought some whole life insurance…now what?

20/20 MONEY

https://integratedpwm.com/145

info_outline
 
More Episodes

Welcome to another episode of 20/20 Money! My guest on today’s show is Michael Pote.

 

Michael has been on the show before (you can check out those conversations by clicking here for Part I and here for Part II) to talk about selling your practice to private equity and I wanted to have him back on the show for a couple of reasons as I’ve found myself personally having more conversations and doing more planning with clients that are soon to be or in the midst of selling to a private equity firm. Michael’s had a storied career in the optometry profession and has spent the last 4+ years helping ODs understand and navigate the process of selling to a private equity firm, notably not being tied to any one firm but rather helping the OD find the best deal for their practice.

 

In this conversation we talk about what ODs get right and wrong about their financials prior to the sale of their practice, a current “state of the market” as it relates to PE deals and his best guess as to the state of the private equity cycle, the range of adjusted EBIDTA multiples he’s seen in recent deals (hint: it’s gone up), and the importance of ensuring you not only have a business plan, but a personal plan for how you’ll exit from your practice.

 

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.

 

And with that introduction, I hope you enjoy my conversation with Michael Pote.

 

The Growth Co-op

Consolidation eBook

Getting the Most Out of Your Practice Sale eBook

20/20 Money #55: Contemplating a PE Exit—The Story of Dr. Ken Krivacic, OD

—————————————————————————————
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!