{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Before you write the check, prove the problem first","description":"The most expensive mistake in your practice might be solving a problem you never proved existed.   Dr. Jen Stewart joins me back on the show for a conversation about making better decisions before writing the check. Inspired by Jim Collins\u2019 concept of \u201cfiring bullets, then cannonballs,\u201d we explore why practice owners should test assumptions, gather evidence, and understand what success actually looks like before committing significant money or resources to a decision.   One idea kept resurfacing throughout our conversation: more isn\u2019t better; better is better.   Before you hire another employee, buy another piece of equipment, or sign a lease on more space, ask yourself: What am I solving for? In service of what? At the cost of what? And perhaps most importantly: What would it take to get a better result with what I already have?   NBS (Next Best Step): Identify one \u201ccannonball\u201d you\u2019re currently considering in your practice. Before committing to it, write down the problem you believe it solves and identify one or two smaller, lower-cost experiments you can run to prove the problem\u2014and the solution\u2014before writing the check.   Have a podcast-related question? Contact our team here!   Resources: 20\/20 Money: The Business of Optometry Episode: Optical Isn't Dead, but The Way You Are Running It Is with Dr. Jennifer Stewart 20\/20 Money: The Business of Optometry Episode: Edging In-House vs Outsourcing: The Economics, Trade-Offs, and Data An Optometric Practice Needs to Measure with Drs. Jennifer Stewart, OD & Sam Hornberger, OD 20\/20 Money: The Business of Optometry Episode: Why some dry eye practices thrive-and others quietly fail with Dr. Chris Wolfe 20\/20 Money: The Business of Optometry Episode: Improving your practice by tracking the right KPIs (and ignoring the wrong ones) with Nathan Hayes 20\/20 Money: The Business of Optometry Episode: Why focusing on \u201cprofit\u201d in your optometry practice might not be the most effective owner metric to measure (and which ones you SHOULD focus on) with Nathan Hayes of Books & Benchmarks 20\/20 Money: The Business of Optometry Episode: Making sense of your practice financials (profit\/loss, balance sheet, and cash flow statement) with Nathan Hayes of IDOC Book a Triage call with Adam Download the Practice Owner's Financial Toolkit 20\/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's new book: How to Buy an Optometry Practice     \u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014 Please rate and subscribe to 20\/20 Money on these platforms Apple Podcasts Spotify \u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014 For past episodes of 20\/20 Money with full companion show notes, please check out our episode archive here!   Check out Adam's other podcast! The Optometry Success Podcast  Subscribe on Apple Podcasts: https:\/\/bit.ly\/4tttng6 Subscribe on Spotify: https:\/\/bit.ly\/4tuf0YM  ","author_name":"20\/20 MONEY: The Business of Optometry","author_url":"https:\/\/www.integratedpwm.com\/","html":"