The Abundant O.D. Podcast - Highlighting Successful Optometrist Practices
Apr 19, 2024My name is Eric Levenhagen, and welcome to the first episode of the Abundant OD podcast! This is a new venture for me, and I'm excited to see where it goes. I've been in the financial industry for over 20 years, becoming a CPA in 2008 and starting my own practice in 2010.
Early in my career, I noticed many clients, especially in professional services, faced challenges traditional accounting didn't address. Most just focused on numbers and forms.
As a CPA, business owner, and practitioner myself, I recognized the need for a better approach for small businesses. So, I developed a framework called "financial harmony" to improve your business's financial health and help you design a fulfilling life.
Most financial strategies are similar; tax law is tax law, numbers are numbers, and business is business. But what sets them apart is how you think about and implement them. Not every strategy fits every goal.
Likewise, there are likely actions you're overlooking. Your financial health and your business's health are interconnected. Imagine a comprehensive approach that addresses all areas of your financial performance, working together to achieve your life goals.
Over time, my focus shifted to working with optometrists in private practice, bringing us to where we are today. My goal for this podcast is for you to hear stories from colleagues about their practice growth decisions, the results, and the impact on their lives, families, patients, staff, and communities.
We'll discuss specific challenges we all face as private practice owners. Your time and expertise as an optometrist are incredibly valuable to your patients.
However, few of us were trained to run a business. We know over 80% of businesses fail within five years, and of those that survive, 80% "fail slowly." They don't know how to grow or achieve their desired level of growth.
They see a lot of activity that doesn't translate to a bigger bank account, meaning they're surviving month-to-month. One bad week or month could jeopardize everything. Many feel they're paying exorbitant taxes and don't know how to solve it.
Is a complex tax strategy truly necessary, or is cash flow the root of the problem? Ultimately, how do we ensure you're not overworked, underpaid, and on the road to burnout?
So many have come before you. We want to show you there's a way to run your practice according to your values and goals, while still designing a fulfilling life. Both are possible.
We're lining up amazing doctors and industry specialists for interviews. You'll be inspired and know the path you're on and the things we're talking about are worthwhile.
People like Dr. Mick Kling, a leading expert in eye care consulting and leadership, Dr. Brianna Rhue, an entrepreneurial optometrist who owns and operates several ventures, and Dr. Kristie Nguyen, a Florida optometrist, brand ambassador, and successful entrepreneur herself – they'll all share valuable insights. Dr. Hank McKinney will share his story of impacting underserved youth. These are just a few of the amazing stories you'll hear, stories that wouldn't be possible without financial harmony in business and life.
We need to believe that running a profitable business that supports our lives is not only possible, but essential. It's critical so you can continue to impact people's lives by improving their eyesight and how they experience the world.
We'll have at least one guest interview per month discussing decisions that improved their practice and personal prosperity. There will also be shorter, weekly episodes with just me, sharing insights from my business experiences.
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