E519 | A Simple Structure For Scale

Today, we're talking about a very simple structure to follow for growth and scale. This comes from a presentation from a CEO of a business consulting company that I was recently able to be in attendance. You have to keep it super simple and focus on the three areas that I go over in this podcast. Enjoy!

• 3 divisions of your company
• Knowing when to hire
• Create a loose organization chart

www.physicaltherapybiz.com/apply

PT Everywhere: https://pteverywhere.com/

Do you enjoy the podcast?  If so, leave us a 5-star review on iTunes and tell a friend to do the same!

Are you a member of our free PT Entrepreneur Facebook Group? Join today!

Podcast Transcript

Danny: Hey, I've got a question for you. Do you know if you're tracking the right data, the right metrics, the right key performance indicators in your practice? This is something that's huge for us and really helps us make solid decisions within our business, but the prior software that we're using to run our practice made it really challenging.

To actually get that data out and use it in reports. Since we've switched to PPG everywhere, this has actually become way, way easier for us to be able to have the right data. We have a dashboard of all the things that we actually want to see, the metrics that we want to pull, and it makes our life a lot easier to pull the information that we need to make the right decisions within our business.

So if you're running blind and you're not tracking the right things, or you're. Hard time actually pulling everything together. I highly recommend you check out our friends at PT Everywhere and see what they've got going on with their software platform. It's what we use for our practice. It's been a game changer for us.

You can check 'em [email protected]. 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 want to 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 Mate, and welcome to the PT Entrepreneur Podcast.

What's going on guys? Dr. Danny here with the PT Entrepreneur Podcast, and today we're talking about the structure of your business and really a simple structure for growth and scale. This comes from a presentation that was done at a mastermind event that I was recently at, and. The person that was putting this together and that was presenting on this owns a consulting company for mainly service businesses in the sort of home industry.

So I think like contractors home inspectors was a big a big one, painters, stuff like that. And he works with companies that are anywhere. Three and about 3 million and about a hundred million dollars a year in revenue in terms of, the intent going from the smaller businesses and building those up to not just be more revenue, but also a structure that creates a business that is more sellable as well.

So I thought this was interesting because the way that he mapped out the structure that they like ironically, is very similar to just what. What we see that works as well and what we teach and how we've set up our businesses. So if you can imagine a a drawing of this, it's basically you have your CEO at the top, and then if you have three lines underneath that, that are, they're like one's going straight down, one's off the side and the other one is off to the other side.

That is, are your three primary divisions that you're gonna break a company up into? So the first one would be services. The second one is operations, and then the third one is growth. So when we look at these services in this scenario for a practice would be seeing patients or teaching health and wellness classes.

Actually doing kind of virtual programming or whatever it is that you're doing, but it's actually the fulfillment and the consistency, the training, the quality assurance of whatever you're delivering for that service. All this would fall underneath that. So in services, this is our providers.

This is the lead clinician. This is all the staff clinicians. This is, the owner, right? Aw. Initially doing everything right. So it, in the early stages, you're everything. So you're the ceo, you're in charge of services, operations. This is the administrative side of things, right? So this is making sure that people are being communicated with somebody's, answering the phone, scheduling emails back and forth, coordinating things making sure that Your books are accounted for for tax season.

Hr, all the regulatory things that go into this is ops so all the backend systems and people in the business that make it run is, think of it as the infrastructure. The foundation is laid by ops that allow services to fulfill In an effective manner on top of that so again, if you're a single provider, you're in charge of services, you're in charge of ops, and then growth is actually sales and marketing.

So growth would be, clients, getting clients and then, getting 'em in the door and getting 'em to pull out their card. And that has a lot to do with marketing, but it's also sales as well. And in, in practices normally. Again the owner is doing everything until they get big enough to bring other people on.

The first thing that they typically bring on is an admin to help with operations. So stops 'em from doing lower dollar per hour tasks. These are 15, 20 hour, $20 an hour tasks versus maybe if you're seeing a patient's 150 to $250 an hour. So you're gonna make that exchange.

Hire somebody to do the op side of things or to run the op side of things, I should say, because you're the one that really has to build that out and somebody has to run that play. And then it allows you to focus more on services and on growth. So that's marketing, that's selling that's networking, that's getting out in the community, that's creating content, that's, learning how to do things like ads or hiring people to do ads.

And then, from there, which allows you to do more of the services, which is the whole goal, and initially you're gonna do everything, but as you can think about this, you can write your name on all of these, right? You're in charge of services, ops, and growth. You're also the CEO.

At a certain stage, you wanna get to the point where all that you're doing is being the ceo, so that. Could mean that you're not treating patients anymore and you have people on the services side that are doing everything. You're not really doing anything with ops anymore. You have people that are managing the clinic and then you have people that are in charge of sales and marketing for the practice and.

All they're doing is they're doing their job, they're running their department basically, and then they're reporting to you as a CEO to make decisions as to the direction that you want to take the business that aligns with whatever your vision is. And ultimately what you can do from there is you can decide, okay, I wanna hire a ceo.

To run this. And now you're basically, an advisor and you're completely out of the business. And this is a business that you can definitely sell, although you may never want to. There's something to be said for that. It depends on what you want. If you want to be able to exit if you want to be able to have, income and perpetuity with still being semi-active in a business you can do that.

This is the structure, no matter how involved you want to be or not be, that I think actually is very simple. That works really well. So as you're thinking about where you're at in these stages and the sort of steps that you take, right? If you're everything to begin with, Then you get busy enough, you bring in an administrative person on to help with ops.

You're still somewhat involved in it, but they're really, doing all the things that you shouldn't be doing. Then you bring on a staff member to help with services and fulfillment. You're still, really focused on sales and marketing. You're driving that. You drive that UN until, later stages of these types of practices, and you probably still have some involvement locally as well because you've developed in many, in most cases, a lot of local relationships that are very beneficial.

And then, maybe you bring somebody on that, that runs that or maybe you hire, an agency that's helping with with ads and you're just slightly, involved in the growth side of things. Not necessarily doing everything yourself. But that's probably the last one that you're gonna, you're gonna give up.

Most people will actually give up everything else before. They give up driving the sales and marketing of the business because it actually is so important. It's hard to hand that off to anybody else. But if you do, then you just focus on the CEO role, which is then getting reports from these different departments and they're all working together.

And obviously there's communication in between, but it's a very simple structure for scale and making things really visibly very easy to see where people are at. And. Roles you need to fill. So I recommend if you haven't ever done this before, creating some sort of loose organizational.

Of your business. And like I said, the easiest thing to start with is just this sort of three-pronged approach of the CEOs on top, three lines below it with services, ops, and growth. And then from there, who's doing what? What are the roles and responsibilities? What do you eventually want to.

Hire out, like who do you need to bring on? And then have a clear idea as to, which, what are the next steps in the business that you need to, to make those hires, to grow, or when you need to get maybe a bigger space or take on equipment loan or, Many different things that happen, but the structure of the business that you're running, you'll have a clear picture as to what you're hiring next, what you're growing towards, and and make it very, straightforward and simplified.

I think that's really important. Keep it super, super simple and focus on the three areas of services or fulfillment operations. And growth in the business. As always, guys, thanks so much for listening. I hope this helps clarify some of the the business organizational chart side of things for these practices.

The more organized you get, the easier it is to grow, scale and run a successful business, hire more people and and help more people honestly. So as always, thanks for listening. We'll catch you next week.

What's up, PT Entrepreneurs? We have a new exciting challenge for you guys. It's our five day PT biz part-time to full-time challenge where we help you get crystal clear on how to actually go from a side hustle to a full-time clinic. Even if you haven't started yet. This is a great way to get yourself organized in preparation for eventually going full-time into your business.

So we actually help you get Crystal. On how much money you're actually gonna need to replace with your business to be able to make a lateral transfer. How many people you're actually gonna need to see based on what you should be charging. We're gonna tell you three different strategies you can take to go from part-time to full-time, and you get to pick the one that seems like the best fit for you for your current situation.

We even show you all the sales and marketing systems that we teach within our Mastermind for people that are scaling to multiple clinicians, past themself that you need to have in your business to be able to go full-time. And the last thing is we help you create a one page business. This is a plan that's gonna help you get very clear on exactly what you need to do and drive action.

That's what this is all about. We want you to win. We want you to take action, and in order to do you have to get really clear on what you need to do next. So go to physical therapy biz.com/challenge. Get signed up for the challenge today. It's totally free. We think this is gonna be a game changer for you and are excited to go through.

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 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.