July 27, 2018

What Is Seller Discretionary Earnings? (and why is it important?)

When Valuing  Small Businesses When valuing  small businesses, including owner-operated optometry and medical practices, arguably the most important item is Seller Discretionary Earnings (SDE). It is defined as the Net Income as reported on a tax return + Interest Expense +Depreciation Expense + Amortization Expense + Owner’s Compensation + Owner Perks. Basically it is what...
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July 20, 2018

Seven Things To Ruin An Office Meeting

I’m big on office meetings. Really big. Last year I wrote a blog on 7 Reasons You Should Have Office Meetings. But I only like them when they’re done right. Here’s 7 things you can do if you want to render an office meeting completely unproductive, and hated by you and all your staff members....
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June 7, 2018

Scibal Is More Right Than He Even Knows (Just Don’t Tell Him I Said That)

Recently, I read my partner John Scibal’s blog titled “Should I Buy My Building?”  It was an excellent piece where I found myself saying “preach it bro, preach it!” as I was reading it.  I was immediately reminded of something that I learned years ago that I don’t think I would have ever been able...
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May 14, 2018

Should I Buy My Building?

Did You Ever Think About Owning Your Office Building? Are you paying rent? Did you ever think about owning your office building? Whether it be a self-standing building, or space in an office condominium, at some point most of us think about owning our own space. So – should you? Seemingly, like every other article...
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April 19, 2018

Metrics Diagnose Opportunities And Problems, Not Fix Them: Part 1 Of, Oh, I Don’t Know, A Billion

How’s this for a change – I’m going to talk about something you should be striving to get worse at (at least during the first step). Can You Guess What Was In Decline While The Practice Was On The Incline? Recently I was reviewing and analyzing practice metrics for about a half dozen different optometric...
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April 2, 2018

The Effect Of Price On Consumer Buying Behavior

The pricing of services and materials is often viewed as being extremely difficult and frustrating. Even when a significant amount of analysis has gone into the pricing process, one is left with a sense of doubt regarding the results. Pricing Is A Combination Of Art And Science Pricing is a combination of art and science,...
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March 14, 2018

Medical Is Great, But Don’t Forget The Optical

It Seems To Me Everywhere I look I hear about how everyone should go to the “medical model”. Honestly, I’m not sure exactly what that is. It seems to me everyone thinks they’re doing it, but no one is doing it the same way. And I get the importance of providing medical services, especially in...
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February 25, 2018

Six Reasons You Should Finance The Sale Of Your Practice.

Often times the sale of a practice boils down to financing. The good news is that, in my experience, for a practice with good cash flow and that is priced correctly, there are banks willing to finance 100% of the purchase. Unlike Loaning Money For A Car Or A House, There’s No Real Collateral Sometimes,...
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February 14, 2018

Is Your Appointment Schedule Losing You Money?

Here’s A Technique To Provide Efficient Clinical Care And Increase Your Bottom Line In a survey,  the AOA asked consumers how long they’d wait for an eye doctor appointment after having lost or broken eyeglasses, 40% said they would wait one day before seeking an appointment from another eye doctor, 24% said one week, 5%...
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