E448 | Clarity Leads To Action

Yves and I go over why we created our new 5 Day Challenge and how this will help you take the next massive step in your business.

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Podcast Transcript

Danny: [00:00:00] So there's all kinds of hidden fees within your business, uh, that are just part of doing business. One of those is credit. Processing and for us, we didn't even realize how much we were paying in credit card processing with the first, uh, management software we were using for our practice. And when we switched over to PT everywhere, we just realized we were saving literally hundreds of dollars a month with credit card processing with their partner with Card point versus who we were using with our prior.

Software. This has made a massive difference. It's more than paid for itself. It allows us to decrease our overhead. It allows us to have more cash flow to reinvest in our people, in our technology, in our facility, in marketing and everything that's gonna drive the business. So don't, uh, get abused by credit card processing companies.

Make sure you're paying what you should pay. And if you're looking for a management software, highly recommend PT everywhere directly integrates. Processor makes it very easy and their rates are super, super competitive. So it's saved us a ton of money and it probably will do the same for you if you don't know what you are getting charged.

So head over to PT [00:01:00] everywhere. Take a look at what they've got. I think you really like it. So here's the question. How do physical therapists like us who don't wanna see 30 patients a day, who don't wanna work home health and have real student loans create a career and life for ourselves that we've always dreamed about?

This is the question, and this podcast is the answer. My name's Danny Matte, and welcome to the PT Entrepreneur Podcast.

What's going on guys? Dive in here with Eve Gigi, Facebook, uh, PT Entrepreneurs Group, as well as the PT entrepreneurs. Podcast today, we've got something really cool to share with you guys. If you are part of the Facebook group, uh, the PT Entrepreneurs Facebook group, you're gonna be able to see this first.

Um, if you are listening to this on the podcast, definitely become a member of this group. Um, so you can get your hands on stuff like this that we drop and, uh, and create to [00:02:00] try to help people really, you know, make some changes. In their business, actionable changes in their business. Um, and this is our five day challenge we're gonna go over.

Today in particular, we're gonna talk about, uh, plans, business plans and action plans that we see, um, what you should be doing, what maybe you shouldn't be doing some more sort of the old school advice, uh, things that we've seen that have worked. Um, so we'll get, we'll dive into that. But, but it's the day after things or after, uh, Halloween.

So I wanna dig in. I saw your kids looked really. Um, how did, how did Halloween go? Uh, and Daniel Island? It seems like one of the best places to be a kid for trick-or-treating that I've ever seen. There

Yves: are, they take it very seriously. Like very seriously. Um, we had one guy who had, uh, a spot for kids to get candy, like full candy bars, and then he had a spot for adults for free beer.

Um, you know. Wow. And there's golf carts everywhere. I. Massive amounts of people. I don't think anyone's done Halloween quite like Daniel Island. And then there's a guy, he lives on the park [00:03:00] side, which is like the very wealthy side of Daniel Island. He spends about $300,000 on Halloween, uh, decorations and had like flying ghosts and like it looked like one of the nicest haunted houses I've ever seen.

And this is just in the sky's front yard. So yeah, they do it right and uh, you know, we had a great time. Pillowcases absolutely full of candy that will probably. You know, only eat half, you know, throw

Danny: it out. They love it. Yeah. What's your go-to? What do you steal from your kids? If you're gonna take something, what's your uh, what's your go-to Reese's Peanut butter cups.

Isn't that a hundred percent? Does anybody not pick that? Oh my God. My kids know. They just fork it over. If they see one of those reesey pumpkins in there, they're just like, dad's going to steal this, so we might as well just give him his. Hmm,

Yves: smart. What is it about when they're in a different, like it tastes better when it's in like an Easter egg or it's

Danny: in a I've thought about this, I've thought about this quite a bit actually.

Okay. Uh, so lemme give you my theory. I think it has to do with the ratio of peanut butter to [00:04:00] chocolate, and this is my opinion. Uh, some of you may have thought about this too, but I think there's more peanut butter, uh, in, uh, the, the shapes in particular, the big shapes. It's just better that way. Like more peanut butter is better versus like the little ones, you know, you don't have as much little more of the chocolate chocolate's in the best part.

So that's what I think it is. Um, but it does, they do taste better. Uh, any shape is better than the regular shape. Yeah, I, I don't get

Yves: it. Maybe it's like the Mick McRib just because it's, you know, uh, so limited. Limited that you have to have it, you know? Um, there's, I mean, there's some psychology behind that, I think.

I think it's absolutely no different. I think it's all in our head. That's

Danny: my guess. Yeah, you could be totally right and I've spent hours thinking about, uh, something that is, uh, completely irrelevant. But, uh, yeah, Halloween, uh, Halloween's a lot of fun. Our kids, you know, being like, you know, basically nine, you know, to.

Eight, seven kind of range. Um, it's a sweet spot for them. Like they absolutely, uh, love it. And they, they, uh, they go, [00:05:00] they go pretty big in our neighborhood too. They'll shut streets down. And kinda like barricade off different sections and stuff. And, and there's definitely, uh, there's a lot of candy, uh, that we have in our house, which is, which is a lot of fun.

But today, the day after, and I'm, dude, I, if I'm apologize, I'm apologize if I, if I sound like I'm kind of out of it. Today's, I've been staying up late watching the Braves for like, Four nights in a row or whatever. Uh, or, well, I guess I had a p a presentation, one of 'em. And I'm usually, I'm a nine 30 guy.

I'm asleep at nine 30. I've been up till like midnight or l or later all these days, and I feel like a zombie today. I'm an idiot. Uh, I gotta get back on schedule. I just need them to hurry up and win this world series, um, so that we can just like finish it and, and go back to sleep at nine 30. But I'm excited to dive into what we have going on today and talking about business plans, our new five day challenge, which I'm really excited for, I think.

Yep. This is gonna help a ton of people, um, especially in this group. And if you're in the group and you want access to this sucker, all you gotta do in the comments on this just type in challenge. And one of our team members will actually like go ahead [00:06:00] and get you signed up, um, for that five day challenge.

And we'll kind of dive into that a little bit more of what that is today. Um, but before we do that, We wanna talk about plans and business plans in particular, because part of our five day challenge, it ends in essentially what we call a one page business plan. So, you know, is this something that you're gonna create for your m MBA program?

No. But is this effective? And is this gonna help you actually do the right work? A hundred percent. So, uh, Eve, when you started your business, you actually created a real business plan, right? Like a, a thoughtful well put together. Business plan. So I'd love to know what was your takeaway from that, you know, pros, cons, and you know, how much of it have you, have you utilized?

Yeah,

Yves: I mean, when I first started, you know, I didn't know anything about running a business beyond, you know, I was in insurance based practice and I didn't understand that, but I didn't understand like, you know, the b a version. And I think all of us, when we first start this, I think everyone has a thought that like they need to go get their MBA [00:07:00] first.

Right? And go get more education in order to start a business. Right. I knew I wasn't gonna doing that, but I, I had a friend he worked for like the SBA and he gave me one of their generic business plans. He's like, you need to go through this. You need to do, and you said it earlier, a SWOT analysis and financial projections, and I was taking it pretty seriously.

So I went through the entire thing, end to end, and honestly, what I learned. That there were definitely, uh, financial assumptions that I was making that weren't essentially true. Right. And that was super helpful. Um, but when I went through like, you know, your mission statement, you do all that stuff, it's almost too early to go through a lot of that stuff.

Right. Like, I just, I mean, it was good to get my thoughts down on paper and I think that's super beneficial. I'd love to see if I could find it. I bet I could find it. Cause I keep everything. It probably looks so different. I mean, think when I talked to you, I probably made that financial projection off of $85 visit.

I almost [00:08:00] guarantee you I did. You know what I mean? And like thousands of dollars in marketing costs, you know, like it just probably flipped totally over, um, on its head. And I think there's a lot to that. One of the main things being is that a traditional business plan in this non-traditional model, I think.

It's just outdating. Does it make

Danny: sense? I agree. And you know, it's interesting. I would love to see that, uh, by the way, if super funny, if you can dig that up. I would love to, to, it's like a time capsule, you know, like you're going, going, going back in time. I find some of, like, I, I journal a ton. I just write a ton of stuff down and I'll find.

Notebooks from like six years ago. And, uh, I'll read through it and just laugh at how much of an idiot I was. Uh, and you know, some of the, some of the things actually are spot on that have come true. The vast majority of them are, are, uh, com complete nonsense. But I think that, you know, when you look at this, this is common.

Um, you know, it's, it's, it's commonly, you know, told to people that they. Have a [00:09:00] business plan, right? I mean, in particular, if, if you're trying to get a loan from the S B A, you know, the small business association, you're not doing that without a business plan, right? I, that's just not, that's just not happening.

And, um, you know, I, I can tell you I've never actually, uh, put together a formal business plan, um, you know, for better or worse. Uh, but I, I think that when you look at. The reason that people do that, right? Uh, the reason that they request that is probably a couple things. Number one, it shows that you're serious.

It shows that you've put some thought into this and maybe you realize it's a bad idea. You don't even show up there trying to borrow a couple hundred thousand dollars to start a business. Um, or, you know, you've put all this together and now you're likely to success. It's probably a little bit higher, but ultimately what we've seen is.

Whatever gets you the most clarity, whatever gets you the, the, the clearest on what you actually need to do next, what steps you need to take. Leads to the [00:10:00] most action that somebody takes in the right direction. Which, which really, that's the whole game. Because you're right, you and I, you know, when we started our business, I just wanted an office that was cheap.

I was just gonna be there forever. I was gonna teach for Kelly Tourette for. Forever. And that was my business plan, right? I was gonna see some patients during the week. I was gonna travel and teach a couple times a month and to do that forever. And so that was my business plan. Uh, but that led me to taking action that led to other opportunities that led to more action, that led to more opportunities.

Cuz nowhere in a business plan did either of us write down that we were going to be. Talking on Zoom about, you know, cash practices and working at this point with like basically over a thousand practices, you know, and, and, and it's crazy to think that we're, we've been able to do that. Um, but it, but not, didn't come out of a business plan.

It just came out of working on the right things and knowing what to work on next, uh, and, and figuring out, um, along the way. And I think for a lot of people, they want to know it's, it's not like building a house, right? It's a, yeah, you, you can have a blueprint for this, [00:11:00] but. You know, things change. You have to pivot, you have to like, you know, adapt to that.

Um, different environments, technology, all kinds of things. So it's almost like if you try to have this strict, stringent sort of plan of what's gonna happen, um, you, you know, you, you need to be able to be nimble at the same time as well, especially as a small business. So, um, I don't know if anybody in our group has even done it.

Like, we don't even recommend, uh, business plans at this point. I'm not sure if somebody. Yeah, I mean,

Yves: we've done like maybe financial projections, um, but yeah, no, none of this formal, you know, 15 page, um, business plan, just, uh, it typically doesn't exist. I mean, the thing that I love that you said was the clarity piece.

I still think that's the number one thing most of us are seeking, right? Like, we want, what is the exact next step or, or what am I going for? You know, I still remember when we were doing the licensee thing and I was trying to get some of these other physical [00:12:00] therapists in my area to come start, you know, a, a license made to move practice and the number one selling point.

And it's cool cuz this is gonna weave into what we're talking about now, was that you needed only to see x number of patients per week. To be viable. And I think that by far is the most powerful because it makes it seem attainable, right? Because what you have in your brain is typically a. Way different or way scarier, like the monster behind the closet is just way scarier until you open the closet and realize there's nobody there.

Yeah. Right. And that like, when you make it that attainable for people, as you said, the clarity, it just, it's like the one thing they need to hear and it makes everything else seem less, less scary. It's, it's

Danny: honestly, Just think of it. Well, I think that you, before we jumped on this too, you said something I thought was really interesting about macaroni and cheese, that was spot on.

[00:13:00] Dive into that a little bit in terms of, you know, like just a simple example of some of people probably do quite a bit, especially if they have kids, Yeah, a hundred percent.

Yves: I mean I've made mac and cheese, you know, started in college my entire life and I was thinking about this, you know, five step challenge and I realized that just like mac and cheese, you need to follow those in steps in the exact order as well as something as simple as mac and cheese has this stuff on the box.

Um, I just thought about this too. The reason I'm thinking about this is cuz. Uh, me and my daughter for the first time made boxed mac and cheese. She's now obsessed with boxed mac and cheese.

Danny: Wait a second. The first time she's like eight.

Yves: Yeah, first time we made it together like she wanted to make it, I couldn't touch anything, so she'd read the directions and I kind of had to redirect and I realized a how important it was to like follow it.

Exactly. Cuz she was trying to do things out of order and I just like, yeah, you can't put in the cheese as the water is boiling with dingling. Like that's [00:14:00] probably gonna taste bad. I've never tried it. You know, maybe it's amazing. I don't

Danny: know, but I really

Yves: secret ingredient. Right. But you had to follow those things in the exact.

To get the best outcome that you want, right? Could you probably make something that's edible, maybe, right? But to get that best outcome, you've gotta follow those steps, you know, in the right order, and the directions are right there. And it's the same thing for owning your own practice, right? Is like you've gotta follow these steps in this order, and it's insanely helpful to have those steps in the exact, or the likelihood that I'm gonna make mac and cheese is much higher because I have all those steps in front of me as opposed to, okay.

You figured this out like that, that'd probably go terribly for me anyway.

Danny: I c a hundred percent agree. Look, uh, first of all, did you eat a lot of Easy Mac back in the day? Oh yeah. When you were in the dorm All the time. Constantly staple for dinner. Yeah. That's tough. Is disgusting. But I ate it all the time.

Here's the other. We'll get off top of [00:15:00] Mac, topic of macaroni and cheese and B to this. But what you're talking about is right. You know, because yeah, if you, if you just don't follow any sort of proven plan, you can make macaroni and cheese, there's no doubt about it. Like it will happen. You know, it'll just.

It probably tastes like crap. And in the context of a business, if you decide that you want to skip things, you can, you could still make it work. It doesn't mean that you're not gonna have to dig yourself out of a terrible hole. And we see this all the time, especially at at this stage of business. It's not the newer businesses so much.

It's the people that have just like bootstrapped their. And willed their way to where they were full-time in their business, and now they're time poor. They're super time poor because they've d, they're doing everything themself. They don't trust anybody to do anything. And everything that they have is in their head.

They haven't documented anything. They haven't created any sort of systemization or processes. And then what happens is you go to bring somebody else into this, and it's a [00:16:00] terrible work environment, and you just assume that you hire somebody and that solves your problem when in actuality, You've created such a big problem for yourself, it's gonna take a lot of time to then organize that to be able to hand off to somebody else, versus that's like dumping the, you know, the cheese in while the macaroni and cheese is boiling.

You who knows, it might taste awesome, but it probably tastes bad and you've ruined it. Now, on the flip side, if we get people that are building a business the right way, and they know exactly what to do at the right time and when to hire, when to bring somebody on, and how to train, All of a sudden, the scale factor is very different.

So to go from just you to being fully busy, you know, to to to where you're, you're, you know, you've replaced your job essentially. You can get there many different ways. We think that there's many a very fast way of going about that. Probably the most proven way that we've seen, but there's lots of different ways to go about it.

Now, the infrastructure you build along the way is what dictates whether you're gonna be able to grow past yourself or be in that crappy macaroni and cheese all by yourself, being time poor because you've done everything wrong and you [00:17:00] don't have a team that you can build around you. Cause everything is internal.

You don't have. Systemized or documented. Um, and, and it's a difficult place to work too, right? So, you know that that's the importance of like doing things sequentially. It's why franchises work for God's sakes. Like the reason that franchises have an astronomically higher success rate is because they have a proven system that you literally, legally have to follow.

You have to follow, they force you to, and that's why they have success because they figured something else out and they took, they take basically the, the error that people will have in that, and they remove as much of it as. Yeah,

Yves: I've seen it firsthand for two reasons. Number one is what's taken took me two years to accomplish.

People are doing in like three to six months. Yeah. Right. When I started my practice two is, you know, how long we been doing the mastermind program, like three years.

Danny: Like the first group that we took on that, that you were in in 2017. Um, it wasn't the full years. It was middle of 2017. The middle of 2018.

And [00:18:00] then, um, so really the, I guess that would be the beginning, but then the first like group, uh, of people that we took into the structure that we use now would've been 2018. Two 18.

Yves: So onboarding those people, right. And onboarding. Um, the people now who've gone through the rainmaker and gone through some of these systems is a completely different animal every once in a while.

And we just got somebody, I'm not gonna name names, who's been doing it on their own and is, is going through exactly what you talked about, not priced correctly, has zero systems in place, is a hustler, and like, has made it work. And it's like a, don't get me wrong, it's a badass business, but like, there's just so many things that if they just would've followed, A five step process would've been so much easier for them.

So I have to go back and clean a lot of those things up. And I, by far the biggest advantage and of this is like creating some sort of like financial projection too, right? Just like being able to see like, What is this gonna take? Like where do I need to [00:19:00] be priced at? Like, is it really this hard to replace my income?

And the answer to those questions are typically from what we've seen, it's a lot easier than most of us think. Right? And obviously the secondary benefit of time, financial freedom, and be able to create a lot more income or the ceiling of our profession is, Frankly,

way

Danny: too low. Yeah, I agree. And, you know, so for us to, you know, to kind of dive into what we have organized for you guys, um, is, you know, for us we feel like if we can get you organized within five days or even faster, cuz the, the challenge, we broke it up into five sections.

You could do one a day. If you really get after it, you can frankly do the whole thing in, in, in a couple hours, um, if you really want to, you know, just burn through it. Um, but the goal, uh, about the whole thing is essentially clarity. It's clarity, especially for people that are, um, you're part-time, you're side hustling, um, you know, or you're just getting started and, uh, what you need in place.

To be able to be full-time to [00:20:00] replace what you're making, um, as a full-time, you know, clinician, uh, to where you have as much of a lateral transfer as possible. And I think, you know, I did a presentation for, um, a fellowship group last week and I asked them, I said, you know, what's the number one reason why you wouldn't do this?

Right? Uh, because when you look at the numbers, According to the Apt, A P t A, the average pt, you know, comes out of undergrad and grad school with around $142,000 in student debt, right? So if that's what they're gonna come out with, you know, and the average, like the average, you know, staff PT here in, in Georgia, it's probably $70,000, uh, you know, roughly that they're gonna make.

So you're, you're like half of what your, you know, your, your loans are, at least in our state. Um, That's tough, right? That's, that's challenging. How are you gonna pedal those, that debt off, right? Like, what, you know, why would you not do this if the Really, the one of the few ways to use our skillset in a way where we can increase our income potential is this business model, which is a fairly low, you know, [00:21:00] cost to start, pretty high success rate.

Business model that will not ruin you financially, even if you screw it up. Like you still can go back and get a job and be totally fine. Um, and if you do it right, you can change your family's financial position forever. Right? So, pretty compelling reason to do it. And I asked him, I said, why, why would you not do this?

And the number one thing was, I don't know where to start. And, um, uh, Scared of failing, right? So this, these are the two things we hear the most and what we wanted to address primarily with this, um, course that we put together. And this is really good stuff. Like this is gonna get you super organized and we'll kind of talk about what this looks like, but with the ultimate goal of, uh, fear of failure is normal, but fear gets resolved with.

Confidence. Confidence comes from organization, which comes from a plan, and the more confident you can be about the likelihood of you succeeding, the less fear you have and the more likely it is that you're willing to take a step or do something [00:22:00] that. Will lead to the next step, you know, and not necessarily having to figure the whole thing out, but just figure out what's the next step to take, you know, where do they say like, how do you eat an elephant?

One bite at a time, right? So like, what are those first couple bites you need to take? And then you can, you know, get after the rest of it. And that's what we wanted to go over, you know, with this. So, and, and I think, you know, for you Eve too, like, was you're seeing a lot of people coming in. These different coaching programs that we have, um, I would assume, you know, it's very similar that you're seeing a lot of that at every stage, right?

Cause it's like, it's fear of starting initially fear of failure, but then it's fear of failing other people whenever you grow past yourself, you know, I think that's even harder to get past. Yeah, they've

Yves: gotta learn, uh, that first step is just starting, right? So like, even if it's just a side hustle, that's a pretty tough one.

You encounter a solid amount of resistance, then it's quitting the full-time gig, which is another really, really difficult point. Right. And each time, yeah, it's like the fear of like, is this gonna work? Do I trust myself enough? Right. And what I've seen, I, I honestly talked to a friend of mine, um, [00:23:00] who's been trying to go to PT school forever, and he had never just written down like the three different options.

Like, if I go to PT school, this is what happens if I start my own training business, this is what happens. Right? So like, it's literally just the act of. Creating clarity again, and right, we're putting it on paper, that will decrease a lot of that fear, anxiety, um, that you didn't know, right? Like we used profit first later to hire people.

Because what that does is say, all right, if I hire somebody, here's my financial obligation, right? And here's about how many visits I need to see. In order to make this work. And as soon as people see that, I see fear go away instantly. Yeah. Right. Because they just put it on paper, they see it, they're like, oh, man, that's not that bad.

Yeah. You know, and it's, it's huge. Right? It just, it, it gets the commitment that's needed, right? Like you need to see it on paper. You need to commit to the process. And clarity

Danny: typically does that. Well, you bring up a, uh, a great segue [00:24:00] into, The very first thing that we're having people do within this five day challenge, and there's most, most people do not like to look at finance.

And if you decide to go into business for yourself, you've got to get over that. You have to get better at understanding cash flow, what you're spending money on, like what your like actual like costs are per month. In particular on the personal side. As well as the business side. And the very first thing in day one is literally figuring out your clinical freedom, uh, number, right?

So your, uh, your, your actual, like, I'm sorry, clinical revenue number, um, that, that, that you need and, and, and for us like that is really how much are you trying to replace per month. So if you wanna know your clinical freedom revenue, it really comes down to what are you, what are you spending per. Right.

So let's say you think you're spending $5,000 per month, you and your family together, right? Well, have you actually looked at that? And if so, when's the last time you did? Um, where are [00:25:00] all those things going? Where, where, where's money allocated to just doing this one day? If, if you don't even decide to do anything from this.

Just going through the calculator and the training that we built out, it should give you the. A clear picture of what your family or yourself is actually spending money on, and it's not, you can't lie to yourself about this. Once you know your number, you know your number, and there's also great ways where you can start to adjust these things and improve, you know, what your family's financial output is on a monthly basis.

Just doing this one day should be able to save your family. You know, hundreds of dollars, if not maybe thousands per month just by knowing where things are going. That's the thing people just don't know. And if you don't know where money's going in your business, it's an even bigger problem. So you really gotta figure this stuff out, uh, at the get go.

But if you're even willing to do day one, that's the thing. Many of you, you may sign up for this challenge and be like, oh shit, I have to like, look at what I'm spending money on. And this is like a auto-populating count. You know, calculator's gonna show me exactly like what my, uh, you know, monthly expenses are.

Yes, it's gonna take you a little bit of time. It's probably gonna hurt, but if you're not willing to do. You're gonna have a hard time in [00:26:00] business. You know, you might as well, like if you can't even talk yourself into doing that, like please don't start a business. You're gonna have a hard time on the business, financial side.

And if you just ignore that next thing you know, you're gonna be in a bunch of debt and your business is not gonna be doing well. Not that it shouldn't be, it's, it's that you're not clear on those things and you maybe don't think that you have a really good skillset there. And a lot of people you hear that, they're like, oh, I'm just bad with numbers.

Right? I wanted to become a physical therapist cause I didn't wanna do, or, you know, organic chemistry, I have to deal with whatever to be a medical doctor. Psych okay, whatever. Uh, Here's the deal, like this is basic arithmetic. Like we can all do this. Um, it's just a matter of getting clear on the stuff.

And then from there it gives us exactly what our, our actual numbers that we're trying to replace, which we call our clinical freedom number, which is basically the number of people you need to see per month. To equate to your monthly output. So where your family has a lateral transfer to where you know you're not necessarily, and you could do this, dive his head first like I did and, and just burn the ships.

But it's a hell of lot nicer, especially if you have a family to transfer [00:27:00] with some cash flow along the way and knowing exactly what's that's at, you know where that's at. These are the two most important variables we see with people that are getting started, that they're not. Yeah, they're just like, pull the trigger, ride the bullet.

And for us it's like we just wanna help you aim first before you jump on the bullet and ride it. Uh, cuz that's basically what entrepreneurial, you know, uh, lifestyle is initially, but Clarity helps a ton with this. Yeah. It's

Yves: simple but not easy. Right. The amount of people that probably have like, thought about doing something like this, but just haven't put their budget together.

Right. Like there are courses out. That probably costs thousands of dollars that put a spreadsheet like this together and get people to do something like this. Right? Because as you said, just putting this together and actually shining a light on your. Finances, which yes, I get it. It's scary, but it's obviously the first piece of resistance that will be the domino that'll everything else kind of fall next into place.

Like some people, it's a scary number. They may look at it and be like, holy crap. Like, you know, they wonder why they're in debt and they're like, well I'm spending, you know, a thousand bucks a [00:28:00] month on Starbucks. Like maybe that's something I could cut out. Like how low. Right. It'll become a game at some point too.

Especially when you first start, like, how low can you get that, um, clinical. Freedom. I can mess the number, the revenue number, right? How low can I get it? Right? Like you'd bes like you'll see, but like, I bet you can get that number pretty low. And that's like such a huge piece of, piece of resistance. Again, that'll get the, the domino rolling.

And like the cool part is like, we built this all out and it, it's totally free for people, right? We're not charging a thousand dollars for this Excel spreadsheet that we put together that, you know, um, you could easily charge for it. Auto-populates and everything, and then calculating the per visit rate.

Right. Which I still think, man, when people see it, like I don't wanna ruin it. I set an anticipation post. The only thing I'll tell people is for sure there are people seeing. This many patients a day that you could see in a week to get a decent revenue number. I'll just

Danny: say that out loud for sure. Oh, hundred percent.

I want you to go see it yourself. Oh, do no, like a, a really good [00:29:00] revenue number. I mean, you know, I, I, I think back when I was, you know, uh, working in a, um, a high volume clinic in Texas, you know, it was not uncommon for us to. This, I, I'm an intern, by the way. You know, I'm supposed to be seeing an 80 per 75 to 80% scheduled max.

Um, you know, and there's days where we would have in the low twenties, you know, uh, a number, number of patients, you know, 18 to 22, somewhere in that range. Um, you know, the, the people that were staff clinicians, It was, it was easily that, and more typically they, they would definitely load them up a little bit more.

Um, you know, so I mean, God, if you're seeing 18 to 20 patients a week, patient visits a week, you are doing great. I mean, if you just do some basic math on that and that, and that's really, we wanna help you guys be able to understand, um, you know, as, as far as a, as far as what are you spending, what are you trying to.

You know, and gain some confidence around what that is. And then from there, what strategy are you gonna pick? Because, you know, for us there's, there's transition strategies that we've seen [00:30:00] and there's three that we'll kind of go over within this, but we've seen. At this point now, you know, close to a thousand prac, uh, practices that have started, uh, and, and grown.

Um, and there's, there's a couple different transition strategies that really they make sense more, uh, for people than others, depending on their stage of life of where they're at, of, of their cash reserves, whether they have a family or not. You know, whether they have, uh, established connections where they're, um, starting or it's gonna be a slower start cause they're moving to a new location.

The third part of this for us is getting very clear on what's the right fit for you. And then, you know, at this point, now you have your, how much revenue, you know, am I replacing, you know, what am I spending? How many people is that? You know, if I look at what my average visit rate is, gimme an idea of how many per month, how many per month I need to replace.

Or see to replace my, my income, what's the best strategy for me? So now I've got my number, I'm clear on it. I'm, I'm very, like, I know where I'm going and now I know what strategy I'm gonna use. And then the following part is sales and marketing, which is the number one. [00:31:00] Uh, you know, sort of, I guess the, the, the top two skills that you have to be able to understand and develop to be able to get to a point where you replace your income ju just to get, to replace your income, uh, or to create a lifestyle business where you're just working for yourself kind of forever.

That's what you, you need to be really solid at getting people in the door without having to worry about physician referrals and figuring, figuring out how to, you know, try to get people to send you people that, that don't want to do it because they're incentivized by the hospital systems they work in, typically, and selling.

So when they get there, getting them to actually complete a plan of care with you. And doing that on a repetitive basis. So we actually share with you guys the sales and marketing systems, the actual checklist we use with everybody in our mastermind for exactly what they need in their business. Not just for just getting started, but to be able to scale past themself as well.

And we show you everything that, that you need, you know, for that in a little checklist that you get a chance to keep and using your business going forward, um, as well. It's a really cool way to kind of go. Aligning you and then giving you some organization of actionable things to [00:32:00] work on. And then ultimately it ends up in a one page business plan.

So if you don't have 15 pages, we're not doing a SWAT analysis. All we're doing is organizing everything. And then what we do, and this is I think the real kicker is if you're willing to do this, you're gonna be very successful. You go through this whole thing, you're gonna fill it out, you're gonna sign it, and you're gonna give it to somebody.

You. You're actually gonna give them your one page business plan showing exactly what you're gonna do. You're gonna put it out there to somebody you respect, and you're gonna gain some accountability via not wanting to let this person down that you know, you, you have respect for. And I think that's one of the most powerful things you can do is get some accountability on what you say you're gonna do.

Yeah. We just need the

Yves: commitment, right. Can you commit to going through these five steps? Right. And then can you commit to showing somebody that you, you know, Love and trust that'll hold you accountable. Right? Somebody that's important to you, that's going to probably get irritated at you. If you don't do it right, hand it to them and commit to the process.

Because at this point we can confidently say that this [00:33:00] works in any area, in any niche, under multiple conditions with multiple demographics and you know, you name it. We've seen the entire gamut now. Right? And like we decided to put this together because honestly, we got sick of people. And their excuses of like, this won't work for me.

Or like, this timing's not right, and you know, whatever. And it's like, all right, just go through this five step challenge. The likelihood that you're gonna succeed is high, and the likelihood that you're gonna take action on this and commit to it is so high. Right? And that's what we're trying to achieve

Danny: here.

Yeah, super high. Uh, guys, if you want to get in on this challenge, it's totally free. Just type challenge in the comments. If you're in the Facebook group right now watching this live or you're watching the replay of this, um, you know, if, if, uh, if you guys want to get into that, we are actually gonna let it, uh, release it this week.

If you're on our email list, we'll be putting some information out on it later this week as well. Um, but, but ultimately the goal really is, you know, clarity and then from there taking action, right? So we we're trying to make this [00:34:00] in a way. Um, you know, you can organize yourself and then get yourself in a place where you actually take action.

Because lots of us, and we, we hear this a lot where people are like, man, I wish I could do this, or in six months I'll do this, or next year it'll be better for me to do whatever. You know? And, and I had, you know, I I, I had a guy that I worked with when I was, I was actually a, I was in high school. I was trying to figure out what I wanted to do.

I spent some time, I spent some time at a pharmacy. I spent some time with orthopedic surgeons. I spent some time with physical, I was at a military hospital in, in, uh, Fort Gordon, and there's a guy there, uh, that I, um, I, I shadowed as a high school student that, uh, He was a physical therapist. I'm not gonna say his name cause he's actually still there.

And, uh, the whole time that I was there, uh, every time that we had a break, he would bring up stuff about photography. He loved photography. He was showing me his camera over his lunch break, all this stuff right. Super into photography. And, you know, he's like in, in X number of years. [00:35:00] I'm gonna start my own photography business.

Like he would shoot like a little, you know, wedding here or there on the weekend or whatever. And, uh, it, he lit up every time he talked about photography. So I go back there, uh, as a intern when I, I was in the army, so my first, my first clinical rotation was back and forth. Gordon. Guess who's still there?

The same guy. I get attached to him. He's talking about photography all the time. It's well past the date that he told me that he was gonna do his photography. Right. What he is still telling me, he is gonna do his photography business. So I leave years go by at this point. Right. My dad gets his knee replaced, uh, and the guy that does his rehab is the same guy.

And I asked him, I said, Hey, was this guy talking about photography? And he was like, that's all he talked about, photography. That's it. And, and I looked back at this guy and I, you know, I don't know his situation. Uh, I, I don't know, you know, what his family situation is like, or, or whatever. All I know is this.

Love photography. Like he was a fine physical therapist, but obviously this was his passion and he [00:36:00] constantly was talking about it and constantly saying he was gonna do something and he never ever did. And this is 15 years later or whatever, you know, at, at least at this point. And he is still doing the same, the same thing that I don't think he actually likes doing.

I think he just does it because it's safe and he, I, I think, would be much happier if he actually took action on the thing that he needed to in order to you. Pursue the goals that he wanted. So I look at somebody like that and they're like, don't be this person. Don't be the person that's gonna look back and be like, man, I always wanted to do this thing, but I never did cause I just did the safe thing.

And I think if you have a plan and you have some clarity, you, you feel more confident about it. And it's not as scary cause it's very, very scary. We're not discounting that. I think we're just so used to it having done so many things on our own in the entrepreneurial space. But like I remember giving up my paycheck from the army.

That was the scariest thing that I've really ever done with two little kids. You know, moving to a new city and like all of a sudden, No money, you know, the guaranteed coming in paycheck prowess is a real thing. And I think for, for this in particular, if you're very clear on what you need to replace, [00:37:00] how many people that is, and how you're gonna go about doing it, it should give you significantly less anxiety, uh, and fear associated with a transition.

That is a big, big life change.

Yves: Yeah, it took me a long time, you know, like I was a practicing therapist for almost 10 years before I took that leap. Right. And I still remember the day I had, Liam was three Holland was like, you know, a newborn. And that's when I decided to take the leap, right? Like I just, I honestly, I had enough, like I couldn't.

Stay there anymore. And I had an insurance-based practice. I owned it. Plenty of revenue, you know, like, um, decent work hours, right? But like, I just couldn't do anymore. I wanted to treat patients a certain way. I wanted to, um, increase my ceiling. I wanted to be there for my kids, um, as much as possible. And I knew that wasn't gonna happen in the current.

No matter what I did. Right. And so at some point the, the pain [00:38:00] outweighed the fear, right? And it took me, I think, entirely too long. And I don't want that for anybody because honestly, the landscape now is even worse, right? We're seeing it with this whole. You know, the great resignation, right? And it's happening in the healthcare profession as well as, as well as other professions, right?

And, and we look at the other side about, you know, these hundreds and thousands of practice owners who are loving their job again, right? Like, they're full of passion and they're full of purpose and they really love it. It's not easy. It's still hard, but they're, but they love it, right? So, you know, choose your heart, right?

I'd rather choose the hard of owning my own business and figuring that out than, yeah, just being. And probably pissed off that, you know, um, I can't do something else and, and feeling stuck. Yeah. And,

Danny: and I mean, I think that the, the fear thing, you're right. Like the, the fear. Uh, of a transition is, is a real thing, right?

Um, but eventually you'll get to a point where it kind of starts to, you know, eat away at you if you don't do it, and then, then it becomes [00:39:00] you almost, you, you have to, right? It's almost like you've been infected. Uh, I tell people that I like, you know, quite a bit. Like if you, once you. Once you start to, uh, go down that path of like, oh, well, can I do this?

Or, and you learn about it and you start to see other people, I think there's a lot of power in seeing other people and hearing stories of people that are, um, succeeding and using their, their skillset in a way that allows them to, you know, not have to change careers. Um, Obviously you have a lot of debt, you know, and you might as well have made that a good decision by being able to build a business around it that allows you to, you know, provide, uh, uh, you know, more income.

Um, but also time flexibility, which I think is, you know, a huge, uh, part that people actually realize is more beneficial than, than the, the revenue, you know? Um, but, but it's, it's happening. And you know, right now the l. Is, uh, there's more people that are, that are doing this really than ever for good reason, right?

Yeah. The great resignation has occurred. Um, but also what are your, what other options are there as far as [00:40:00] like your income levels go? I, I think that, I think that's the question that people have to ask themselves and what they're really want to do with their, with their degree. But, you know, for, for us to have people build to replace their income, like that happens all over the place.

You know, I mean, we. We have people, even in small towns that have more established practices with multiple clinicians. You know, and I talked to one the other day and this guy's in a small town, um, and, you know, he, he's probably gonna net 250 to $300,000 of income this year. Put, put that in perspective.

That's a, that's a, that's a fucking anesthesiologist or whatever Right. Level, uh, or, or, or whatever, like, Other profession you want to, you know, uh, correlate that with, it's not a physical therapist. I don't know any physical therapist that I know that's a staff clinician that's gonna make 250 grand, um, in income, uh, in a year.

It just doesn't exist. It's not like we can do that and work for a big hospital and do brain surgeries or whatever. Right. So I think that's, you have to ask yourself like what your. Goals are, what do you want your life to look like and are you willing to do some of these things that are, you know, scary and [00:41:00] difficult and require work more on yourself than you probably think, you know, personally?

Uh, and if so, then you open the world up to a lot of other opportunities outside of the nine to five, um, of just seeing patients. Um, which for some of you that might be all you want, but you're probably not in this group. If that's the case, you know, if, if, or listen to this podcast. But we need people.

There's plenty of people like that and they love that. And I wish I, sometimes I wish I was like that, but I, I'm not, and you know, I have to understand just the way that I, I work and the way I'm wired. I'm not happy if I'm in that setting. Probably just like somebody that's wired to be like that wouldn't be happy if they were in my setting.

Yves: Yeah. I, I just have too many conversations of PTs that are really good at what they. They can help a lot of human beings, right? And I want to give them the ability to do what they love, you know, in the setting that they love. Um, And the only way to do that is to give them as many free re free resources that you and I didn't have.

[00:42:00] Right. To make this transition as easy as possible. Because I do get, you know, uh, I get kind of sad when we, when we see somebody leave the profession and become a real estate agent or something, especially when like they probably most people get into pt. Because, or whatever, clinical healthcare setting, because they want to help people and they love what they do.

Rarely, you know, maybe as a doctor or some of these other things, but most people are doing it for that, right? And I want to be able to leverage their degree in a really, really positive way. And this is, in my opinion, for. Lots of people, especially in the performance-based world, the best way to do that, right?

And we're just gonna keep decreasing that resistance. And you're just gonna keep building an army, right? Like it has grown so much and it's only gonna grow, right? The landscape for performance-based cash clinicians and direct pay models is. Exploding. We've seen it now, right? For the past eight to 10 years.

And it's exponentially increasing all the time. Right.

Danny: So I'm excited about it. Well, not just, I, I think [00:43:00] there's a lot of opportunity, but, uh, you also have to understand that the landscape now, um, is gonna be easier, uh, to. Establish a practice within than five, 10 years from now. Um, that's just the reality because the density of these businesses, uh, not that there's, there's a massive amount of people that need, you know, our help.

It's a matter of, uh, like, it's not like the, the pie is small by any means. Pie is. Bigger than we even think. But if you have, you know, more competition around you, the low hanging fruit isn't gonna be there quite the way that it is and has been maybe for the last few years. Um, you know, so the longer that you wait, the harder it's gonna be to really get started.

I think in, in, in many ways. Um, you know, so this idea of sort of like not early adopters is, I wouldn't say it's early adopters by any means. It's sort of. All right. Well, it's, it's established, so, you know, you're, you're getting started before, you know, a lot of people have, have gone that path. Um, you know, but I mean, there's thousands of, of practices like this in the, in the country for sure.

Like it's, and it's, it's just [00:44:00] growing, you know? So if you do the math on that in five, 10 years, like, you know, you trying to carve out your niche in your city. Probably is not gonna be as easy or, uh, you know, less competition will exist now than there will be, you know, five, 10 years from now. And, and the education level is there with people.

Like they're aware of these types of businesses, they're looking for them. So it's a nice, sweet spot versus when I first started, it was like nobody knew what the hell I was. Doing, like, why don't you take my insurance? Um, you know what, why, you know, it just didn't, the, the business model kind of didn't make sense cuz nobody had really kind of presented to it to people and done a lot of education.

We've done a ton of that. Uh, many people around the country have done a ton of that. And now it's a nice sweet spot where it's like, all right, people are looking for these, there's less competition than there's going to be. Like, it's a good time to do it. Um, and, and I think there will be plenty of opportunity five, 10 years from now.

It just won't have quite as easy, easy of a transition as it seems like people are having Right. Yeah, I think the

Yves: big thing, it'll be harder to be low overhead, right? Because like, right. It used to be you just like, jump in a gym, get an office. But like, I think [00:45:00] CrossFit's catching on, I think group fitness places are catching on, right?

So that, that may get a little bit more challenging and yes, support. Um, the, the competition. So, I mean, you're right. Like if you're thinking about it, honestly, it's like at this point, why wait, right? It's not gonna get easier. That bell curve is on the way up. You know, people are, um, able to charge two, $300 a session, right?

Like, it's, it's there, it's there for the taking. And, uh, you know, hopefully this five day challenge, um, will get you the point where you're like, all right. I'm ready.

Danny: Let's do this. Yeah, yeah, yeah. No. So again, guys, if you're, if you're watching this or you're watching the replay of this, this type, uh, challenge in the comments, we'll have one of our team members, um, ping you and send you the, the info on, on the, the five day challenge, totally free.

Um, you know, this isn't something that, uh, is, is a paid course by any means, um, but it's something I think we can help, help you quite a bit with. Um, I think it's, We, we hope that if you see this and you've paid for other people's stuff and you're like, damn, this is better than the shit I paid for. That's what we were going for.

Uh, we put a lot of time and energy [00:46:00] into this, a lot of really good resources. Um, and really it's more than anything we p we stripped it down to where it's actionable. It's what you need. It's not more than that. And you should be able to have a lot of really good momentum on the back end of completing something like this and gain a lot of confidence, a lot of clarity, and, and ultimately take action because we know that is the, the number one variable to whether people are going to actually succeed or not.

Even if you take action the wrong way, at least you took action. We just hope to avoid. You know, these, um, detours along the way and really help you take action just in a very smooth line, as smooth as possible for, for starting a business, which isn't the, obviously the easiest thing in the world to do. So, um, anyway, Eve, anything to end on or you good?

I'm good, I'm good.

Yves: I'm excited. You know, five step process. It couldn't be easier. Like you said, we have stripped it down to the, like, most straightforward way to do it, and I think that's the best part of what we

Danny: did. Yeah, we talked a lot about mac and cheese. Um, got got a lot of good stuff in there, so, As always, thank you so much for watching and listening for being part of the PT Entrepreneurs Group.

If you're not head over to Facebook, make sure that you, uh, [00:47:00] request to join. You gotta be a clinician. So we will background check you. Uh, it might take us a little while to let you in cause we've had everybody. Um, but if you can join about 4,000 other clinicians there. And, uh, if you're listening to us on the podcast, as always, thank you so much for listening and we will catch you guys next time.

Hey, Pete, entrepreneurs. We have big, exciting news, a new program that we just came out with that is our PT Biz part-time to full-time, five day challenge. Over the course of five days, we get you crystal clear on exactly how much money you need to replace by getting you a. Ultra clear on how much you're actually spending.

We get you crystal clear on the number of people you're getting to see, and the average visit rate you're going to need to have in order to replace your income to be able to go full-time. We go through three different strategies that you can take to go from part-time to full-time, and you can pick the one that's the best for you based on your current situation.

Then we share with you the sales and marketing systems that we use within our mastermind that you need to have as well. If you wanna go full-time [00:48:00] in your own practice. And then finally we help you create a. Page business plan. That's right. Not these 15 day business plans. You wanna take the Small Business Association, a one day business plan that's gonna help you get very clear on exactly what you need to do and when you're gonna do it.

To take action if you're interested and sign up for this challenge is totally free. Head to physical therapy biz.com/challenge. Get signed up there. Please enjoy. We put a lot of energy into this. It's totally free. It's something I think is gonna help you tremendously, as long as you're willing to do the work.

If you're doing, doing the work and you're. Information put down and getting yourself ready to take action in a very organized way, you will have success, which is what we want. So head to physical therapy biz.com/challenge and get signed up today. Hey, real quick before you go, I just wanna say thank you so much for listening to this podcast, and I would love it if you got involved in the conversation.

So this is a one one-way channel. I'd love to hear back from you. I'd love to get you. Into the group that we have formed on Facebook. Our PT Entrepreneurs Facebook group has [00:49:00] about 4,000 clinicians in there that are literally changing the face of our profession. I'd love for you to join the conversation, get connect with other clinicians all over the country.

I do live trainings in there with Eve Gigi every single week, and we share resources that we don't share anywhere else outside of that group.

So if you're serious about being a PT entrepreneur, a clinical rainmaker, head to that group. Get signed up. Go to facebook.com/groups/ptentrepreneur, or go to Facebook and just search for PT Entrepreneur. And we're gonna be the only group that pops up under that.