Growth Cooperative's guest appearances

Growth Cooperative

20/20 MONEY

Dave Ramsey

Travis Hornsby

Phil Huber

Peter Lazaroff

Chris Wolfe

Justin Manning

Dave Goetsch

Kent Godfrey

Greg Crabtree

Matt Mitchell

Steve Alexander

Ashby Daniels

Jennifer Stewart

Matt Howard

Justin Castelli

OwlTail

Michael Pote

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!

Welcome to another episode of 20/20 Money! My guest on today’s show is <a href="https://www.linkedin.com/in/michael-pote-1780746/" rel="nofollow" target="_blank">Michael Pote</a>. Michael has been on the show before (you can check out those conversations by clicking <a href="https://integratedpwm.com/so-you-want-to-sell-your-practice-with-michael-pote-ceo-of-the-growth-cooperative/" rel="nofollow" target="_blank"> here for Part I</a> and <a href="https://integratedpwm.com/understanding-private-equity-in-optometric-practice-sales-with-michael-pote-ceo-of-the-growth-cooperative/" rel="nofollow" target="_blank"> here for Part II</a>) 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 <a href="http://www.integratedpwm.com/" rel="nofollow" target="_blank">integratedpwm.com</a> and clicking on the Learning Center. While there, you can also <a href="https://integratedpwm.as.me/?appointmentType=1713824" rel="nofollow" target="_blank">set up a 20-30min Triage conversation</a> 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. <a href="https://growthco-op.com/" rel="nofollow" target="_blank">The Growth Co-op</a> <a href="https://growthco-op.com/wp-content/uploads/Consolidation-2020.pdf" rel="nofollow" target="_blank"> Consolidation eBook</a> <a href="https://growthco-op.com/wp-content/uploads/Practice-Sale-ebook-v2.1.pdf" rel="nofollow" target="_blank"> Getting the Most Out of Your Practice Sale eBook</a> <a href="https://integratedpwm.com/20-20-money-episode-55-contemplating-a-private-equity-funded-exit-the-story-of-dr-ken-krivacic-od/" rel="nofollow" target="_blank"> 20/20 Money #55: Contemplating a PE Exit—The Story of Dr. Ken Krivacic, OD</a> ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms <a href="https://itunes.apple.com/us/podcast/the-dose-podcast/id1438352481?mt=2" rel="nofollow" target="_blank"> Apple Podcasts</a> <a href="https://open.spotify.com/show/44jE3DxOjZQPok0H9D2jw3?si=7fhsalltRqGlwEbVqYnAQA" rel="nofollow" target="_blank"> Spotify</a> <a href="https://bit.ly/32qkOHJ" rel="nofollow" target="_blank">Google Podcasts</a> <a href="https://www.stitcher.com/s?fid=245757&amp;refid=stpr" rel="nofollow" target="_blank">Stitcher </a> ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our <a href="https://integratedpwm.com/learningcenter/?cat=podcast" rel="nofollow" target="_blank">episode archive here!</a>

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

This is part two of my conversation with Michael Pote of The Growth Cooperative. In this conversation we talk about the role that private equity has played in the transition and succession planning of optometry practices over the past couple of years. In this episode we discuss:    What private equity is, how it works and a couple of different ways in which private equity is different than a traditional clinical buyer of your practice such as one of your associates, another optometrist in the same town, etc. The unique attributes private equity has when purchasing your practice and the two different type of private equity models and how those models dictate the valuation that doctor will receive Why most private equity valuations are higher than most offers you would receive from other optometrists, and why private equity firms are able to offer those offers The importance of making sure your personal financial plans are in order so the process of selling your practice will be much less intimidating and emotional.    ——————————————————————————————————————— Please rate and subscribe to The Dose on these platforms  Apple Podcasts  Spotify  Google Play Stitcher   ——————————————————————————————————————— For past episodes of The Dose with full companion show notes, please check out our episode archive here!

This is part two of my conversation with Michael Pote of The Growth Cooperative. In this conversation we talk about the role that private equity has played in the transition and succession planning of optometry practices over the past couple of years. In this episode we discuss: <ul> <li>What private equity is, how it works and a couple of different ways in which private equity is different than a traditional clinical buyer of your practice such as one of your associates, another optometrist in the same town, etc.</li> <li>The unique attributes private equity has when purchasing your practice and the two different type of private equity models and how those models dictate the valuation that doctor will receive</li> <li>Why most private equity valuations are higher than most offers you would receive from other optometrists, and why private equity firms are able to offer those offers</li> <li>The importance of making sure your personal financial plans are in order so the process of selling your practice will be much less intimidating and emotional.</li> </ul> ——————————————————————————————————————— Please rate and subscribe to The Dose on these platforms <a href="https://itunes.apple.com/us/podcast/the-dose-podcast/id1438352481?mt=2" rel="nofollow" target="_blank"> Apple Podcasts</a> <a href="https://open.spotify.com/show/44jE3DxOjZQPok0H9D2jw3?si=7fhsalltRqGlwEbVqYnAQA" rel="nofollow" target="_blank"> Spotify</a> <a href="https://play.google.com/music/m/Iaml3vefwijqtlqob4dcuk3vtya?t=The_Dose_Podcast" rel="nofollow" target="_blank"> Google Play</a> <a href="https://www.stitcher.com/s?fid=245757&amp;refid=stpr" rel="nofollow" target="_blank">Stitcher </a> ——————————————————————————————————————— For past episodes of The Dose with full companion show notes, please check out our <a href="https://adoseoffinancialcents.com/podcast/episodes/" rel="nofollow" target="_blank">episode archive here!</a>

Understanding Private Equity in Optometric Practice Sales with Michael Pote, CEO of The Growth Cooperative

Welcome to this Episode of The Dose podcast. My guest on today’s show is Michael Pote. Michael and I met a little over 4 years ago through a national optometry association and have followed each other’s businesses ever since. Michael’s exposure in optometry has been primarily as a marketer, but today he is the leader of the Growth Cooperative, a unique organization that helps optometrists around the country with many issues that practitioners face today, such as the role of insurance in the industry, the OD/MD split and what it means to the patient experience, and how to help optometrists scale and build a practice that they otherwise might have thought to be impossible. In this episode we discuss:    The evolution of managed care in optometry and how it has changed the way optometrists not only practice clinically, but how they structure their business Why focusing on making money in your practice is not necessarily the best way to make money in your practice, and why you should think about the “currency of care” to measure your success. The benefits the Growth Cooperative are bringing to optometrists and what optometrists can do to “stand up” to the change and pressure that eye-care providers are feeling from legislators in each of their states.  ——————————————————————————————————————— Please rate and subscribe to The Dose on these platforms  Apple Podcasts  Spotify  Google Play Stitcher   ———————————————————————————————————————  For past episodes of The Dose with full companion show notes, please check out our episode archive here!

Welcome to this Episode of The Dose podcast. My guest on today’s show is Michael Pote. Michael and I met a little over 4 years ago through a national optometry association and have followed each other’s businesses ever since. Michael’s exposure in optometry has been primarily as a marketer, but today he is the leader of the Growth Cooperative, a unique organization that helps optometrists around the country with many issues that practitioners face today, such as the role of insurance in the industry, the OD/MD split and what it means to the patient experience, and how to help optometrists scale and build a practice that they otherwise might have thought to be impossible. In this episode we discuss: <ul> <li>The evolution of managed care in optometry and how it has changed the way optometrists not only practice clinically, but how they structure their business</li> <li>Why focusing on making money in your practice is not necessarily the best way to make money in your practice, and why you should think about the “currency of care” to measure your success.</li> <li>The benefits the Growth Cooperative are bringing to optometrists and what optometrists can do to “stand up” to the change and pressure that eye-care providers are feeling from legislators in each of their states. ——————————————————————————————————————— Please rate and subscribe to The Dose on these platforms <a href="https://itunes.apple.com/us/podcast/the-dose-podcast/id1438352481?mt=2" rel="nofollow" target="_blank"> Apple Podcasts</a> <a href="https://open.spotify.com/show/44jE3DxOjZQPok0H9D2jw3?si=7fhsalltRqGlwEbVqYnAQA" rel="nofollow" target="_blank"> Spotify</a> <a href="https://play.google.com/music/m/Iaml3vefwijqtlqob4dcuk3vtya?t=The_Dose_Podcast" rel="nofollow" target="_blank"> Google Play</a> <a href="https://www.stitcher.com/s?fid=245757&amp;refid=stpr" rel="nofollow" target="_blank">Stitcher </a> ———————————————————————————————————————</li> </ul> For past episodes of The Dose with full companion show notes, please check out our <a href="https://adoseoffinancialcents.com/podcast/episodes/" rel="nofollow" target="_blank">episode archive here!</a>