E489 | The Key To Making The Right Decisions

In business, you have to make difficult decisions quite often. I wanted to talk about the compass you can use to see if you are actually making what is the right decision. This topic stems from a conversation with one of our Clinical Rainmaker Members recently. Enjoy!

• Navigating complex situations
• The mindset of long-term decision making
• Doing what is right for everyone

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Podcast Transcript

Danny: So there's all kinds of hidden fees within your business 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 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 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 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? Doc Danny here with a PT Entrepreneur podcast, and today we're talking about. Making difficult choices, difficult decisions in your business, and the compass you can use to see if you are doing the right thing. This stems from a question and a conversation we got into on our clinical rainmaker call today, which I thought was it's actually a fun conversation towards the end of it.

Talking about a complex issue that one of the people on the call was having with a client. So it's a, I'll give you some context with this. So she has a client who is not doing well at the training facility that she's coming from, the gym, she's coming from.

She doesn't feel like this person's appropriate for the type of training that she got herself into, but she signed up for a year-long agreement and she needs a doctor's note. That says that she can no longer continue in order to break her lease, or not lease, but her agreement, her contract with that gym.

Now the problem is that this person has a good relationship with the gym owner and is a little bit worried about not sending business back their way because that person. To this clinician and they would like to send them back, obviously, to keep the referral source happy and get the person back into the gym.

But the gym is frankly not the appropriate place for them. So it's a challenging situation, right? You have to manage both the client, what's best for them, what the client wants 'em to do, which the client wants them to write a note saying it's not the right thing for them because it sounds like they may also just wanna get out of the agreement about having to pay a.

And then the gym owner obviously wants to keep the person in their gym training as best they can so that they have a paying member, right? So how do we handle these complex social situations, right? These business situations that we can find ourself in. And I've been there as well with clients that, you are juggling different relationships and trying to make sure that you do the right thing for everybody.

So it's also not necessarily. Fun environment to be in when we're in business. It's a bit challenging, but the one thing that we talked about, and I think this is something that can be really helpful as far as just a compass for your decision making is I always try to gauge and think about what is the thing that's going to be the best long-term decision for the people that I'm working with.

R, regardless of outcome for me, what's the right thing to do long term? And that's usually what I do. Now, the challenge with that is normally that answer that direction is usually the most uncomfortable of all of them. So it's where you have to have difficult conversations with people. It's where you have to.

Truthful about things and not try to hide behind, other excuses of why something is or isn't the way that it is. It's a difference between, sending an email to somebody that you think this is gonna be somewhat of an uncomfortable conversation and calling them, or talking to them in person.

And, it's easy to avoid some of the difficult situations that we. Find ourself in, especially as business owners, but I frankly think that it is. The biggest benefit, at least, if not the biggest, one of the biggest benefits to starting a business is this forced personal development, forced personal growth.

There's few things that will force you into situations where you're uncomfortable and you have to deal with those things more than starting a business, having kids joining the military about the. Other things that I've experienced that I think I had a significant amount of personal growth because of just being forced into situations that were uncomfortable.

Now, this is gonna happen in business as well, and what you have to keep in mind is your reputation follows you around everywhere you go. This is true if you are working at another clinic and you have aspirations of starting your own practice. Your reputation follows you no matter where you go. And your reputation is based off of the integrity you show when making decisions with other people about what to do with them.

And if you're constantly taking shortcuts, people remember that if you're constantly doing the thing that maybe isn't the best for you but is best long term, people remember that as well. And this is a very long game, hopefully. All of us, and you wanna play the game as if it is a infinite game. Going on as long as possible with no real end in sight versus a finite game where you know you are doing something based off of a short term gain.

It's the difference between people that are stock traders and people that are stock investors, right? So some people might say, okay, I'm gonna. Apple, because I think it's a super, run company with great fundamentals and I'm gonna hold onto it forever. I'm never gonna sell it. So that, that's their long term view versus people that are traders might say I don't want anything to do with Apple because it doesn't move enough.

I need to find a company that's gonna be more volatile and I, or they're gonna buy Apple and then sell Apple and then try to buy it when it's low and sell it when it's high. And it's such a completely different mindset. So I think if you can take the mindset. Long term. Decisions long term, what's best for the people that you're working with, regardless of what's best for you in the short term.

That's the key. Regardless of what's best for you, do the thing that is best for the other people that are, referral partners, clients, all of that for them long term. And that's gonna help you maintain a reputation of high integrity that people are gonna want to. Business with long term. And the more you do that, the more opportunities are gonna come your way.

The more people are going to want to, have whatever sort of partnerships with you or, look to send stuff your way. That might be an opportunity they think somebody like yourself would follow through on because you're doing what you say you're going to do and you're making decisions based on what's the right thing to do.

Long. It just puts you in a completely different place. It doesn't happen fast either. That's the thing. You can't do one thing one time. That was the right thing, long term, and then all of a sudden people are like, oh shit, this person is legit. I'm gonna, I wanna work with them. It's not how it works.

You have to do it re repetitively over a long period of time. And then eventually it comes back. And I don't know what the timeline is for you, but I do know that it does happen. It's happened with us in multiple businesses. And if you do this, it's going to change your business long term and it'll help you live a very aligned a aligned life with, how you probably want to function as a human in your.

Business, which is incredibly beneficial from a stress management standpoint as well, like when you'll sleep like a baby, I guess is what I'm getting at, because you know you're doing the right thing for the people that you work with every single 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 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 challenges, 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 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 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 connected with other clinicians all over the country.

I do live trainings in there with Yves Gege 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.