Cash Flow Clarity: Navigating Important Differences Between Profit and Cash Flow in Your Optometry Practice
Episode description
Questions? Thoughts? Send a Text to The Optometry Money Podcast!
Cash flow is the lifeblood of your optometry practice. In this episode, Evon dives into important differences between the profit you see on the Profit & Loss and the actual net cash flow of your business, and also explores the Statement of Cash Flows and stories optometrists can pull from it. Lastly, he talks about a simple framework to use when trying to decide what to do with extra cash flow in your practice.
Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.
Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists 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 and debt, build their net worth, and plan purposefully around their money and their practices.
Resources mentioned on this episode:
- Managing By the Numbers - Chuck Kremer
- Simple Numbers, Straight Talk, Big Profits - Greg Crabtree
- The Optometry Money Podcast Ep 29: Getting A Grip On Your Practice Bookkeeping with Wade Weisz
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.