E673 | What To Do About Buyers Remorse

In this podcast episode, Doc Danny discusses the common experience of buyer's remorse that often occurs when people make new investments or commitments that involve money, especially when investing in themselves through things like mentorship programs or business courses.

He provides the example of when he bought his first house at age 23 for $122,000, and how the night after moving in he couldn't sleep because he was overwhelmed with anxiety about the large debt commitment and worries that the housing market could crash, leaving them unable to sell the house or make payments. However, the house ended up being a good long-term investment and start for their family.

Doc Danny explains that buyer's remorse usually stems not from doubts about the program/company itself, but from lack of confidence in one's own ability to do the necessary work required to achieve the desired outcomes. He notes that "if nothing changes, nothing changes" - success requires personal growth and implementation of the strategies taught.

When people experience buyer's remorse after investing in a program, he tries to determine if they doubt the provider or themselves. In nearly all cases, it's self-doubt rather than doubts about the extensive experience and track record of the company.

This self-doubt arises because now there is accountability and need to take action without excuses. All that's left is one's own actions and results. While scary, this is also what enables tremendous progress, as testing limits and learning from failures allows people to gain confidence over time in steering their own destiny.

Doc Danny reassures that feelings of fear, anxiety and excitement during these transitions are normal and don't mean a wrong choice was made. Investing in oneself often signifies taking charge of one's future, which can induce discomfort but leads to growth. His message is not to be too hard on oneself and to see buyer's remorse as a sign one is on the right path towards confidence and success.

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Podcast Transcript

Danny: 

And there's always a reason that makes you feel a bit better than the ownership of, I just didn't do it, or I didn't have the courage to do it, or I didn't want to fail. These are all the things that are actually true, but that's not what you want to say to everyone around you, right? It's not what you want to say.

At Christmas dinner, when your family asks you how things are going, how's that business doing that you said you were going to start and you never did. Hey, are you a physical therapist looking to leverage your skillset in a way that helps you create time and financial freedom for yourself and your family?

If so, you're in the right spot. My name's Danny Matei and over the last 15 years I've done pretty much everything you can in the profession. I've been a staff PT. I've been an active duty military officer, physical therapist. I've started my own cash practice. I've sold that cash practice. And today my company physical therapy business helped over a thousand clinicians start growing scale, their own cash practices.

So if this sounds like something you want to do, listen up, cause I'm here to help you.

Hey, what's going on? Dr Danny here with the PT entrepreneur podcast. And today we're talking about something that happens. Almost every single time we do something new or something that is unknown, that involves money, and that is something called buyer's remorse. I don't know if any of you have ever experienced this.

Maybe you buy something and you, or you invest in yourself in some way, and all of a sudden you're like, oh my gosh, did I make a mistake? And this is really common. This is something that I've experienced a number of times in my life. And then also we see this with people that we get a chance to work with PT biz.

It's really common. And I'll give you a good example. When Ashley and I bought our first house, I was oh man, I guess I was 23, 23 years old. We bought our house. This is in the San Antonio area in Texas, where I was going to school and it was 122, 000. That's that was the cost of the house.

That's, I feel so old even saying that I feel like my grandfather telling me about a house for 5, 000, but that's what it costs. The mortgage was a couple hundred dollars a month and I remember I was really excited. We both were, to own our own house for the first time and I remember the day that we moved in the first night that we were there that like I couldn't fall asleep.

I had just like this restlessness and I just kept thinking, Oh my God, did I make a mistake? Like I just went into debt. For 122, 000 that I'm guaranteeing I'm going to pay back for this house. What if, the housing market crashed, which it did, by the way, is this was in like 2000. Eight and it was like months after that, everything just went to crap.

So also I was like what if we can't sell our house? When we move, what are we going to do? What if we can't make our payments? And I just felt like sick to my stomach. Turns out that house was a great, it was a great place for us. It was a great place for us to start our family.

It was a great place. From an investment standpoint, long term but the unknown of this new thing really sketched me out. And it created a lot of anxiety for me because I didn't know. And we see this happen all the time with people that invest in themselves in particular, when they start a mentorship program or they buy.

A course to help them with something that's like marketing related or sales or anything business related. It's really common, especially when it's you're investing in yourself, because not only do you have to understand that, yes, there's I need to number one, make sure that I made the right decision, that I feel like I'm working with the right people.

That's half of it. But the other half is you have to come to terms with yourself that you're going to actually do the work necessary. To make the changes that you need to make in order to get the outcome that you want. I think that the phrase is, if nothing changes. So if you don't change anything, if you don't make these changes in your business that you are going to be asked to do for the health of your business, to get to the financial goals, you have the business goals, you have the time flexibility goals that you have.

If you don't do those things, then you're the other half of the equation is you're not actually going to have success with that program. And whenever I get a chance to talk to somebody, cause this happens sometimes. Where people have buyer's remorse, they're like, Oh my gosh, I think I made a mistake.

I need to I need to back out and not do this. And one of the things I always want to know is do you feel like we are the wrong people for this? Or do you feel like you're unsure if you are going to be able to do what you need to do for the outcome that you're looking for? And I would say 99 percent of the time it is.

the individual that doesn't feel confident in themself, not that they don't feel confident in the company and they don't feel confident in that there's a long track record of legitimately over 1000 clinicians. We've helped start and grow practices and a decade of experience running and growing and helping other clinicians do the same thing as far as the businesses go, let alone the Decade of time before that actually working as a clinician to understand what it means to actually effectively work with patients in person, like the two go hand in hand and the business side is what most people struggle with that.

We help them with and we assume the check the boxes that they're already a good clinician. But when they get into a program, all of a sudden, if we take away that other half right where it's like, Nope, we know what we're doing, Are you willing to do what you need to do? Because that Oh shit moment, that buyer's remorse moment, that usually comes from people starting to question whether they actually have what it takes to do what they need to do.

And that's a hard thing to deal with because you can't hide from that. You can't blame anybody else. It's you. And that's where the anxiety comes from. That's where the buyer's remorse and the challenge of the, Oh my gosh, what did I get myself into? Because you cannot make excuses anymore.

You can't hide behind reasons for why you haven't done what you say you're going to do. And we all know people like this. I try to do this very little, and everybody is guilty of this. Oh, I wasn't able to do this because X, Y, and Z. And there's always a reason that makes you feel a bit better than the ownership of, I just didn't do it, or I didn't have the courage to do it, or I didn't want to fail.

These are all the things that are actually true, but that's not what you want to say to everyone around you. It's not what you want to say at Christmas dinner when your family asks you how things are going. How's that business doing that you said you were going to start and you never did. And then all of a sudden you get signed up with us and now there's accountability built in.

There's support. There's people that are helping you do the things that you need to do. There's systems you can follow, proven processes, and then what's left? You're the person that's left and that's why it's scary because if everything else gets taken away All you have left is your own actions and your own outcomes and that's also what makes it awesome Because you are earning this, we can't take credit for anybody that we've worked with that's had, that has had success because all we're doing is helping them, guiding them along the way.

We're the mentors that get a chance to help. We get to help implement, systems and things that are going to make a business successful, but we can't go out to a local marketing event for you and deal with the anxiety of being turned down. We can't sit in the office with you and sell a plan of care for you, even though you're terrified to talk about money with somebody, we can't do those things, but we can do is hold you accountable and we can help you learn those skills, but when it comes down to this, to buyer's remorse and fear.

Failure and wanting to say, Oh my gosh, I make a mistake is because there's nowhere else to hide. You're the only person that can say, I either did it or I didn't do it. And that is scary, but that is also where the progress is going to come. That's where the massive momentum occurs, where all of a sudden you put yourself in a place where you are building confidence.

You're testing yourself. You're learning, you're failing, you're falling forward, you're growing. In a matter of a couple years, people that we get a chance to work with go from being unsure, or maybe in some cases, overly confident in what they can do to all of a sudden they are well rounded, great business owners that happen to also be great clinicians that are moving towards whatever their future based goals are with intention.

And they, they feel a sense of security in their own destiny. And that's something that they didn't have before. And all the buyer's remorse they had was because they didn't feel secure. They didn't feel confident that they could actually do it. And now they do. And that is a really cool thing. That is the most important thing for us to be able to help clinicians with.

Because when you feel confident, you know where you're going and you have the skills to get yourself there. You've learned them. You can implement them. You can deal with challenges. That's. That's what you're paying for. That's what is worth it. But you got to get past the fact that you're the only person that can do it.

And that can be scary and that's normal. So if you ever go through a stage where you invest in yourself or you commit to something and all of a sudden you have buyer's remorse, honestly, in my life, that's always meant that I did the right thing. And if you can think of it that way, fear, anxiety and excitement are very similar.

It's hard for us to tell sometimes what that difference is. And this is what most people feel. So if you're feeling that it's totally normal, please don't feel like you're, you did something wrong. Don't feel like you're alone. Everybody has some element of this. It means you're in charge and that can be a bit scary.

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