Investing in What you Know: Optometry
Investing is really spending time and/or money on something with the hope of increasing its value. I use the term “hope” because most people have no idea if spending their time or money on something is a wise decision. So how do you make it a wise decision? How do you ensure that your investment in an independent optometry clinic will produce a positive return?
Reap the rewards of your efforts
The best investments are in things you know about and that you really care about. Take your family for instance. I sure hope we all believe that investing both time and money on our families reaps a great return. The same can be said of your profession.
You have spent over four years of intense study learning about optometry. You continue to invest time and money to expand your knowledge, build out your skill set, and truly make a difference in the world.
Therefore, it seems logical to me (sounds like a fact) that investing in your own business would be a smart idea. Since the dawn of time (internet exaggeration), optometrists have owned their own practices. Why? Because the best investment is always in something you understand, love, and have control over the results.
Having control over the results
Ever watch the stock market? Crazy how one Trumpism can cause markets to fluctuate. Hedge funds? They are gambling with someone else’s money (not mine). A barge gets stuck in the Suez Canal? Evergrande take on too many risks with their real estate expansion? You can invest all over the world – some of these investments will be great – but you have NO CONTROL over any of the decisions that will make these a good investment or not.
On the other hand, you have the opportunity to create a great investment in your own optometry practice. When you get to make the decisions and call the shots, you have the ability to create an investment that will pay huge dividends.
Do you have more questions than answers? Do you need to understand how the numbers work? There are a host of people to help you succeed where you have a passion and Vision Entrepreneur program experts are one of them!
This article is for information purposes only and are not a replacement for personal financial planning. Everyone’s circumstances and needs are different. Errors and Omissions exempt.
Dr. Roxanne Arnal is a former optometrist, professional corporation president and practice owner. Today she is a mission to empower your finances as a Certified Financial Planner®.” You can reach her at (780)-261-3098 or email roxanne@claritywealthadvisory.ca.
