{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Good, fast, cheap: why you probably can\u2019t have all three","description":"The most expensive professional service may not be the one with the highest price\u2014it may be the one you mistakenly thought was a great deal.   In this episode of 20\/20 Money: The Business of Optometry, I explore the familiar idea of \u201cgood, fast, and cheap: pick two\u201d and applies it to the professional services optometric practice owners rely on every day.   It\u2019s easy to compare prices. It\u2019s much harder to compare value\u2014especially when you\u2019re hiring an attorney, financial advisor, consultant, accountant, IT provider, or other professional precisely because they possess expertise you don\u2019t.   That\u2019s the paradox: the reason you need the professional may also be the reason you\u2019re not qualified to judge the quality of their work.   I discusses why dramatically lower pricing shouldn\u2019t automatically be viewed as either a red flag or a great deal, why practice owners should instead ask how the economics of the provider\u2019s business model work, and what may be exchanged for a lower price. He also shares practical ways to pressure-test professional advice without becoming an expert yourself, including asking what alternatives were considered, where a recommendation could go wrong, how work is reviewed, and when a second opinion may make sense.   Because price is what shows up on the invoice. Cost is what the decision ultimately takes out of your pocket\u2014and your calendar.   NBS: Choose one high-consequence professional relationship in your personal or professional life and pressure-test it. Ask what alternatives were considered, what could cause the recommendation to fail, how the work is reviewed, and whether the stakes justify getting a second qualified set of eyes. You don\u2019t need to become the expert\u2014you need to become a better buyer of expertise.   Resources: 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 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":"