In this transcript from a video by Steven J Wick & Associates PC, Steve Wick of Steven J Wick & Associates PC in Fort Collins discusses the importance of planning, strategic growth, and financial decision-making for business owners. He explains how approaching business without a clear roadmap can lead to costly mistakes, emphasizing the “Ready, Aim, Fire” philosophy instead of reacting without preparation.

The conversation highlights key operational decisions such as hiring, marketing strategy, insurance versus private pay models, and how growth often occurs in stair-step phases rather than a straight line. For restaurant owners, these principles directly apply to managing food and labor costs in restaurants, ensuring that growth decisions are intentional and financially sustainable.

To learn more about managing food and labor costs in restaurants and avoid costly operational mistakes, check out our detailed article on managing food and labor costs in restaurants for sustainable profitability and growth.

This video does not constitute legal advice, and we recommend contacting a qualified CPA to discuss your specific situation and financial planning needs.

00:00:03 — Planning with a Map & “Ready, Aim, Fire”

[Music] well it’s kind of like in my mind uh going into something without a map or trying to at least have a map and just make sure that you’re are planed so that you make sure you’re going in the right direction with it that’s the long and short and and easy part of that obviously it could be very costly airs that I mean that’s the long and short of it there’s an old saying of Ready Aim Fire that’s the steps versus ready fire aim at least when you try and aim you’re

00:00:45 — Targeting Growth & Strategic Milestones

headed toward a Target and to get there and then you fire and you see if you hit your target versus you’re just firing Willy andilly and then hoping to be able to hit a Target you know there’s different steps so in a process you know hopefully you’re planning for growth well what are all the steps in between the the Milestones that you’re going to want to hit to go to whatever that level is and which is first chicken egg employee salesperson whatever you’re going to do where you going to take your dollars and

00:01:29 — Hiring Decisions & Resource Allocation

and put it if you’ve got unlimited amounts of cash it might not matter most people are limited to some extent and they say okay I need this I need these pieces in place before I go to the next step some of it is having those people in place like for example do you need salesperson do you need appointment people at at certain levels or or print desk people or nurses or or other Techs in your business when do you you need to hire this the next one well and plus if you think about it if you’re in the

00:02:05 — Foundation, Timing & Competitive Strategy

middle of your busiest time you really have time and opportunity to actually go out interview people find the best one versus an emergency one all of those things play in we just need to make sure you got a good foundation and also planned it out as to when to do you know whatever next steps they are [Music] you know you’ve got ads and you’ve got competition and how are you going to compete and which levels are you going to compete at so and how are you going to find customers and their ads a lot of

00:02:47 — Marketing, Insurance vs. Private Pay & Revenue Strategy

those can go on TV well small businesses we can’t afford to do that so where are we going to go to try and get our Niche and Target those people so how to do that and you as individual you’re going to be doing dollars you know like how much money am I making by employee or and how much money am I making on my advertising dollars am I going to accept insurance or am I just going to do the private pay customers only or obviously a mixture of those uh I have lots to say about that type of stuff but it it really does

00:03:27 — Business Model Decisions & Operational Structure

factor in who who do you want to be do you want to be somebody spends time with their clients but if you’re with an insurance company they’re only going to pay 50 bucks for the appointment or are you going to try and do a lot of churning and and do you know four or eight pointments an hour you know with your Tech and you’re just running in double-checking a couple things and running back out again to try and make it that way and then push work down to lower levels and all of that kind of factors into it and how you’re

00:04:02 — Growth Happens in Stair Steps

going to do it I like to say especially with growth nothing is lineal it it just doesn’t go up at a certain level uh it’s more like stair steps uh on so many [Music] areas ready to navigate the complexities of financial planning for optometrists connect with us today to start optimizing your business for growth and stability [Music] [Music]

Managing Food and Labor Costs in Restaurants

Successfully managing food and labor costs in restaurants requires intentional planning, disciplined hiring, and strategic marketing decisions. As highlighted in this discussion, growth is not linear—it happens in stages, and each stage requires clear financial benchmarks and operational structure. Restaurant owners who define their target market, understand revenue per employee, and carefully plan staffing levels are better positioned for sustainable expansion. To build a strong financial foundation and avoid costly missteps, consult with a CPA who understands your industry and can guide you through tailored profitability planning.