4 Ways To Make 6 Figures As A PT

[00:00:00] [SPEAKER_00]: Hey, what's up? It's Aaron. Today's special episode is a

[00:00:03] [SPEAKER_00]: recording of a training I did or a zoom call I did with the UMass

[00:00:09] [SPEAKER_00]: Lowell DPT students. And I believe this was their

[00:00:12] [SPEAKER_00]: entrepreneurship club, or their, you know, DPT business club,

[00:00:16] [SPEAKER_00]: consisting of some first and mostly second and third year

[00:00:20] [SPEAKER_00]: DPT students. And in this episode, what you're going to

[00:00:24] [SPEAKER_00]: learn, you're going to learn the four phases of

[00:00:26] [SPEAKER_00]: entrepreneurship, you're going to learn which phase are you in

[00:00:29] [SPEAKER_00]: right now, and which phase do you really want to be in and

[00:00:32] [SPEAKER_00]: hopefully learn by the end how you can move from one phase to

[00:00:36] [SPEAKER_00]: the next. We're also going to talk about how I went from

[00:00:38] [SPEAKER_00]: sleeping on the couch in the rain in Berkeley during an El

[00:00:41] [SPEAKER_00]: Nino for six weeks to generating six and seven figures in

[00:00:45] [SPEAKER_00]: physical therapy businesses. What you'll also learn is how to

[00:00:49] [SPEAKER_00]: make six figures as a physical therapist, whether you're a

[00:00:51] [SPEAKER_00]: student, you're working in a job, you're thinking about cash

[00:00:54] [SPEAKER_00]: practice, you already own a business, and you're not there

[00:00:58] [SPEAKER_00]: yet. We're going to talk about that because that is one of the

[00:01:00] [SPEAKER_00]: most important topics right now, especially for PT students and

[00:01:05] [SPEAKER_00]: new grads, because you've paid six figures for your degree. But

[00:01:10] [SPEAKER_00]: when you graduate and you get a job in outpatient orthopedics,

[00:01:12] [SPEAKER_00]: there are not very many jobs that are offering six figures.

[00:01:17] [SPEAKER_00]: And there are very few jobs that are going to offer you six

[00:01:20] [SPEAKER_00]: figures in physical therapy treating patients. So there's

[00:01:24] [SPEAKER_00]: four specific ways that you can do that. So you can pay down your

[00:01:27] [SPEAKER_00]: loans, you can go on vacation, you can have the life that you

[00:01:31] [SPEAKER_00]: want. And we're going to dissect these in this episode. So get

[00:01:36] [SPEAKER_00]: out a pen and paper or pull out your notes app and take some

[00:01:39] [SPEAKER_00]: notes. And then when you find something that really resonates

[00:01:42] [SPEAKER_00]: with you, I would love it if you would screenshot the episode or

[00:01:46] [SPEAKER_00]: your notes, or just throw up a Instagram story and put like

[00:01:50] [SPEAKER_00]: your highlight on there tag me so I can reshare it. And I know

[00:01:53] [SPEAKER_00]: you've listened to the episode and you've gotten something big

[00:01:55] [SPEAKER_00]: out of it. And then I want to know what you're going to do

[00:01:59] [SPEAKER_00]: about it. So hope you enjoy this episode. There was too much good

[00:02:02] [SPEAKER_00]: in here to like keep it in my hard drive and never share it. So

[00:02:06] [SPEAKER_00]: we're putting it out on the podcast for you today. I really

[00:02:10] [SPEAKER_00]: appreciate you listening and enjoy the episode. What I'm gonna

[00:02:14] [SPEAKER_00]: try to do is keep this from being boring and just another

[00:02:17] [SPEAKER_00]: zoom call help, help you guys out and teach and share some things

[00:02:21] [SPEAKER_00]: with you guys that I didn't learn when I was in PT school. If

[00:02:23] [SPEAKER_00]: anything that you guys need to know if there's anything that

[00:02:26] [SPEAKER_00]: you leave here with, the one important thing is if you have a

[00:02:30] [SPEAKER_00]: great idea. And someone comes to you and says that idea is a bad

[00:02:36] [SPEAKER_00]: idea, you shouldn't do it. Or they hate on you or give you

[00:02:40] [SPEAKER_00]: some shit. Just understand that you've got a great idea. They're

[00:02:43] [SPEAKER_00]: just scared because they would never take action on it

[00:02:45] [SPEAKER_00]: themselves. And if it's a family member, they're just

[00:02:48] [SPEAKER_00]: trying to protect you. I'm going to talk to you about the four

[00:02:50] [SPEAKER_00]: phases of entrepreneurship and how to make six figures as a

[00:02:53] [SPEAKER_00]: physical therapist, which should help for everybody. Does

[00:02:56] [SPEAKER_00]: that sound good? Okay, so let me talk to you guys about the four

[00:03:01] [SPEAKER_00]: phases of entrepreneurship. Okay, phase number one, let's

[00:03:05] [SPEAKER_00]: see if this works. You guys can see my screen is he employee.

[00:03:11] [SPEAKER_00]: All right. So your employee being an employee is not a bad

[00:03:15] [SPEAKER_00]: thing. It's great. You get the your clock in at eight, and

[00:03:19] [SPEAKER_00]: you're out at 5pm or six. Or when I saw 43 patients, I have

[00:03:24] [SPEAKER_00]: left at 930. But I was a student so you know, like they can just

[00:03:28] [SPEAKER_00]: make us work until until whenever, right? So they get this

[00:03:34] [SPEAKER_00]: back 6pm. You know what you get the exact same amount of money

[00:03:38] [SPEAKER_00]: every two weeks. So it's stable. What are some of the other

[00:03:43] [SPEAKER_00]: benefits of working for someone else? Can you guys put that in

[00:03:46] [SPEAKER_00]: the chat? So it's stable. You can clock in and clock out.

[00:03:53] [SPEAKER_00]: It's a known like if you do well with with having like, what's

[00:04:00] [SPEAKER_00]: it called consistency. And someone else like basically,

[00:04:04] [SPEAKER_00]: hey, you do this, you treat these patients, I pay you this much.

[00:04:07] [SPEAKER_00]: Here's your benefits. And here's your thing. Like, yep,

[00:04:11] [SPEAKER_00]: mentorship is a good one. I'll tell you guys, you have to be

[00:04:15] [SPEAKER_00]: careful about mentorship because everyone's definition of

[00:04:17] [SPEAKER_00]: mentorship is a little different. I've had some good friends of

[00:04:20] [SPEAKER_00]: mine. One in particular, who's no longer working as a physical

[00:04:24] [SPEAKER_00]: therapist because his first job was supposed to be mentorship,

[00:04:27] [SPEAKER_00]: but he didn't get any, you know, he just put to work and he got

[00:04:30] [SPEAKER_00]: to talk to someone every once in a while. Yeah, you have to deal

[00:04:35] [SPEAKER_00]: less with the administrative work. Yeah, when your employee

[00:04:36] [SPEAKER_00]: Yeah, there's no risk. I mean, in our profession, there's no

[00:04:40] [SPEAKER_00]: risk in like starting a business. You don't have to do

[00:04:44] [SPEAKER_00]: you don't have to do the marketing. You don't have to

[00:04:47] [SPEAKER_00]: stress about where's the new patient coming next patient

[00:04:49] [SPEAKER_00]: coming from? Okay, great. So the next one is, let's see if I

[00:04:56] [SPEAKER_00]: was found for a different color, but it's just blue is self

[00:05:00] [SPEAKER_00]: employed. Okay, so self employed, you go out and say,

[00:05:04] [SPEAKER_00]: Hey, I'm going to start seeing people whether it's a side

[00:05:06] [SPEAKER_00]: hustle, or a full time thing. A self employed physical

[00:05:10] [SPEAKER_00]: therapist is someone that is basically you make money when

[00:05:15] [SPEAKER_00]: you spend time helping people. Okay, so this is where you

[00:05:19] [SPEAKER_00]: trade time for money. Okay, it's great. I did this for a

[00:05:26] [SPEAKER_00]: long time, a lot longer than I probably should have looking

[00:05:29] [SPEAKER_00]: back. This is where the benefits are. Well, you don't have

[00:05:35] [SPEAKER_00]: someone micromanaging you, you don't have someone telling you

[00:05:40] [SPEAKER_00]: when to work or when not to work, you can take time off

[00:05:42] [SPEAKER_00]: when you want. You can travel whenever you want. But the, but

[00:05:48] [SPEAKER_00]: the downfall is is your, your, you've built yourself a job,

[00:05:52] [SPEAKER_00]: you're your own boss. But if you want to take off, let's say a

[00:05:56] [SPEAKER_00]: week to go to PPS, which this is the thing I struggled with, how

[00:06:00] [SPEAKER_00]: do I go to PPS and pay $1,000 to be there? They stay at these

[00:06:05] [SPEAKER_00]: really nice hotels, I guess, but $200 a night, and I got to take

[00:06:08] [SPEAKER_00]: it's all during the middle of the week. Because if I wasn't in

[00:06:12] [SPEAKER_00]: the clinic, I wasn't treating patients and there was no money.

[00:06:17] [SPEAKER_00]: So when you're self employed, you have, you're still kind of

[00:06:22] [SPEAKER_00]: stuck. Okay, so I want you guys think like, if you're going to

[00:06:25] [SPEAKER_00]: start a business, I want you to think about like, you might

[00:06:28] [SPEAKER_00]: spend some time in the self employed, but I want you to

[00:06:30] [SPEAKER_00]: think about how we're going to get to the next category. So

[00:06:33] [SPEAKER_00]: even as a self employed, let's say even a cash practice or

[00:06:36] [SPEAKER_00]: your network, you're going to earn anywhere from 100,000 to

[00:06:42] [SPEAKER_00]: probably 250. Okay? Now how do you earn 250? If you're seeing,

[00:06:50] [SPEAKER_00]: let's say, let's say you're, whether you're charging or

[00:06:53] [SPEAKER_00]: collecting, if you're doing what we're doing, and you see 250

[00:06:57] [SPEAKER_00]: times 22 people a week times 45 weeks of the year, you're about

[00:07:05] [SPEAKER_00]: so if you're charging, we're charging us like 247 500. Okay,

[00:07:08] [SPEAKER_00]: that's 22 patients a week one on one. That's dope. Right? Is

[00:07:13] [SPEAKER_00]: anyone here not want to earn? I want to bring in $250,000 a

[00:07:16] [SPEAKER_00]: year. Okay. So there's a lot that goes into it. Like you

[00:07:21] [SPEAKER_00]: guys said, like there's the marketing, the admin work, the

[00:07:24] [SPEAKER_00]: setup. If I take time off, I don't make money. So that's kind

[00:07:28] [SPEAKER_00]: of the self employed trap, which is fine. Some people spend years

[00:07:31] [SPEAKER_00]: here. But how do we start getting out of that into the

[00:07:34] [SPEAKER_00]: business owner category? Where you own a business? Can anyone

[00:07:38] [SPEAKER_00]: guess like what's the difference between being self employed and

[00:07:40] [SPEAKER_00]: owning a business? You guys would love it if you put it in

[00:07:43] [SPEAKER_00]: the chat. Just let me know what are your thoughts? Having people

[00:07:51] [SPEAKER_00]: work for you? Yep. Having employees? Yeah, you can have

[00:07:58] [SPEAKER_00]: people work for you. Yep. Yep. That's one big one. So you have

[00:08:02] [SPEAKER_00]: the employee. But I could be down here in and still have an

[00:08:08] [SPEAKER_00]: employee. Let me see if I can. I can still have someone like my

[00:08:15] [SPEAKER_00]: my administrative assistant. And when I'm the physical therapist,

[00:08:20] [SPEAKER_00]: if I'm out of town, we don't generate revenue. So what I have

[00:08:25] [SPEAKER_00]: to do is I have to employ other PTs or technicians. So physical

[00:08:38] [SPEAKER_00]: therapists, we are all highly trained and educated

[00:08:41] [SPEAKER_00]: technicians. We do a technical service which is touching people

[00:08:46] [SPEAKER_00]: or analyzing their movement and helping them improve their

[00:08:51] [SPEAKER_00]: function or whatever the PTA says it is. Okay, so physical

[00:08:55] [SPEAKER_00]: therapy is a is a very highly skilled, highly educated

[00:09:00] [SPEAKER_00]: technical service, which is great. So to move from self

[00:09:04] [SPEAKER_00]: employed to business owner is not just hiring people. It's

[00:09:08] [SPEAKER_00]: leveraging your time. So it's no longer hinged to the money you

[00:09:14] [SPEAKER_00]: generate. Is this making sense? We'd love to know guys, put in

[00:09:20] [SPEAKER_00]: put in the chat like what's been helpful for this for you guys

[00:09:23] [SPEAKER_00]: about this so far. So time does not equal the money. Okay, and

[00:09:32] [SPEAKER_00]: and that's your time. Okay. Make money without being there. Yep.

[00:09:42] [SPEAKER_00]: Other people make money for you. Yes. Yep, yep. More of a

[00:09:46] [SPEAKER_00]: constant flow of cash. Even if you take the day off, you don't

[00:09:48] [SPEAKER_00]: have to do everything. So if you have like an online business,

[00:09:51] [SPEAKER_00]: what that looks like is you could still be in self employed,

[00:09:54] [SPEAKER_00]: but you start moving into business owner when you have when

[00:09:58] [SPEAKER_00]: you can automate sales. Okay, I'm a lefty. My handwriting is not

[00:10:07] [SPEAKER_00]: that great. But it's about so if you're doing like online

[00:10:10] [SPEAKER_00]: business only, like in my coaching business, when I

[00:10:12] [SPEAKER_00]: started selling my courses, I was automating them through

[00:10:15] [SPEAKER_00]: webinars. And you can do a combination of this. I have

[00:10:18] [SPEAKER_00]: clients that do this as a combination in their businesses

[00:10:21] [SPEAKER_00]: where they're treating patients, but they're automating wellness

[00:10:24] [SPEAKER_00]: services, sales courses, things like that. So a business owner,

[00:10:29] [SPEAKER_00]: the number one thing most business owners get wrong is that

[00:10:33] [SPEAKER_00]: they think that they are the most important person in the

[00:10:37] [SPEAKER_00]: business. Okay, they get stuck. I was on a call with a physical

[00:10:43] [SPEAKER_00]: therapy business owner a few years ago. And he and he was

[00:10:47] [SPEAKER_00]: like, Oh, Aaron, I just need to learn more marketing. He's like,

[00:10:50] [SPEAKER_00]: I was like, Why? He's like, well, the employees, the PTs I

[00:10:53] [SPEAKER_00]: employ aren't busy, they're only treating half the patients I'm

[00:10:56] [SPEAKER_00]: treating. And they were basically responsible for their

[00:10:59] [SPEAKER_00]: own caseload. But you know, he's like, but we just need to do

[00:11:02] [SPEAKER_00]: more marketing. And I was like, well, how many patients a week

[00:11:04] [SPEAKER_00]: you seeing? He's like 4045. Okay, great. One on one for an

[00:11:07] [SPEAKER_00]: hour. He's busy. He's got these two people he's paying who are

[00:11:11] [SPEAKER_00]: only seeing like half as many and he's resentful. Well, what

[00:11:14] [SPEAKER_00]: he wasn't doing, and he wasn't willing to do is move his

[00:11:17] [SPEAKER_00]: patients over to their schedule. So he had more time. Because

[00:11:22] [SPEAKER_00]: then he could go market the business fill their schedule.

[00:11:25] [SPEAKER_00]: Because what it is, it's about leveraging your time. And that's

[00:11:30] [SPEAKER_00]: where we get to this last, this last one means we can get the

[00:11:34] [SPEAKER_00]: thing here, we start getting into entrepreneurship. Where you

[00:11:39] [SPEAKER_00]: leverage where you leverage time to do more, more income, more

[00:11:47] [SPEAKER_00]: impact. And time, so income impacted time, because time, time

[00:11:59] [SPEAKER_00]: is bigger is more valuable than money. And impact is is more

[00:12:07] [SPEAKER_00]: valuable than time. So how do I help the most amount of people,

[00:12:12] [SPEAKER_00]: it's not treating them one on one, I can help people very

[00:12:16] [SPEAKER_00]: deeply, or very specific, specifically one on one. And

[00:12:20] [SPEAKER_00]: that's important. But how do I leverage my time to help even

[00:12:25] [SPEAKER_00]: more people? And time is more valuable than money because time

[00:12:28] [SPEAKER_00]: is always running out, like we're only going to live so

[00:12:32] [SPEAKER_00]: long, right? But we can always get more money. If I can go get

[00:12:35] [SPEAKER_00]: a job, I can get paid every two weeks, bank account, I'm going

[00:12:38] [SPEAKER_00]: to get a couple thousand, you know, three to $5,000 every two

[00:12:40] [SPEAKER_00]: weeks. And that's always going to replenish but time is running

[00:12:45] [SPEAKER_00]: out. So I judge my, my actions, my choices make decisions based

[00:12:51] [SPEAKER_00]: on how much time is this going to give me versus how much money

[00:12:54] [SPEAKER_00]: am I going to get? Is this making sense to you guys? Just

[00:12:58] [SPEAKER_00]: type in, type in like, makes it like make sense or just tell me

[00:13:03] [SPEAKER_00]: like, you know, like, what's like, what are you getting out

[00:13:06] [SPEAKER_00]: of this? Just put that in the chat. Like, is this making

[00:13:08] [SPEAKER_00]: sense? Just put in a yes. And if you're getting something out of

[00:13:11] [SPEAKER_00]: this, you have an insight, please share it. Dan says small

[00:13:15] [SPEAKER_00]: is great. Makes sense. Makes sense. This is great. Yeah. So

[00:13:19] [SPEAKER_00]: no one taught me this in PT school. In our business class in

[00:13:22] [SPEAKER_00]: PT school, it was, here's, here's the history of insurance.

[00:13:27] [SPEAKER_00]: Here's what average co pays are UnitedHealthcare only wants to

[00:13:30] [SPEAKER_00]: pay $45 no matter what you do. Design a clinic, you have a

[00:13:34] [SPEAKER_00]: $250,000 budget, and it has to be a 5000 square foot clinic,

[00:13:39] [SPEAKER_00]: and write out a business plan. I'm like, can we just do 1500

[00:13:43] [SPEAKER_00]: square feet? No. Okay, my clinic next door is just a little bit

[00:13:49] [SPEAKER_00]: bigger than 1500 square feet. And we have room for free

[00:13:52] [SPEAKER_00]: full-time therapists. We just don't use we don't utilize it.

[00:13:56] [SPEAKER_00]: Because one, we don't want to and to COVID part kept us from

[00:14:01] [SPEAKER_00]: growing this year. But we've had as many as two PTs when I was

[00:14:05] [SPEAKER_00]: treating patients and part-time massage therapist. And it's for

[00:14:11] [SPEAKER_00]: 1500 square feet. I mean, that's a great size. And we were

[00:14:15] [SPEAKER_00]: under utilizing it at that point. So what do we do? We

[00:14:22] [SPEAKER_00]: maximize our time. So for the clinic this year, when COVID

[00:14:26] [SPEAKER_00]: took all our patients away, I mean, there was a point at

[00:14:28] [SPEAKER_00]: which we we canceled everyone for about four, maybe six, we

[00:14:33] [SPEAKER_00]: canceled everyone for a week, but we really just moved

[00:14:35] [SPEAKER_00]: everyone to telehealth and 90% of our patients moved over to

[00:14:38] [SPEAKER_00]: telehealth. And then as you know, things start to open up,

[00:14:40] [SPEAKER_00]: they weren't going to tolerate telehealth anymore. And we

[00:14:42] [SPEAKER_00]: started seeing people in person again, like July ish. But

[00:14:46] [SPEAKER_00]: everything we did in those three months, pretty much April, May,

[00:14:51] [SPEAKER_00]: June, to make our systems even better, even more solid to

[00:14:57] [SPEAKER_00]: create more online courses and work on our application funnels

[00:15:02] [SPEAKER_00]: and work on our lead magnets. We had a fourth quarter in 2020.

[00:15:07] [SPEAKER_00]: That was a better fourth quarter than 2019. Actually, like

[00:15:11] [SPEAKER_00]: October was one of our top months ever in our clinic. This

[00:15:15] [SPEAKER_00]: is October 2020, which is kind of crazy. Seeing as after the

[00:15:20] [SPEAKER_00]: election in November, we had we had eight people on schedule

[00:15:23] [SPEAKER_00]: that week. Monday, someone canceled, then we had seven and

[00:15:26] [SPEAKER_00]: then by Wednesday afternoon after the election, we had nine

[00:15:29] [SPEAKER_00]: new patients scheduled for Thursday and Friday. And our

[00:15:31] [SPEAKER_00]: average, like our average number of visits a week is like it

[00:15:35] [SPEAKER_00]: pre COVID is like 25 to 25 to 28. For me personally, 20 seeing

[00:15:42] [SPEAKER_00]: 26 people a week was a little too much. Entrepreneurs where

[00:15:46] [SPEAKER_00]: we want to be. Yeah, absolutely. So let me see if I can turn

[00:15:49] [SPEAKER_00]: this guy back on. So entrepreneurs where you really

[00:15:51] [SPEAKER_00]: want to go to, right? Because if you stop at self employed, what

[00:15:56] [SPEAKER_00]: happens when you retire want to go on vacation? A business owner

[00:16:00] [SPEAKER_00]: is great. A lot of people you could stay here but what is an

[00:16:02] [SPEAKER_00]: entrepreneur? What really does an entrepreneur do is they

[00:16:06] [SPEAKER_00]: leverage their time to generate more money and greater impact so

[00:16:10] [SPEAKER_00]: you can focus on multiple things. I would even say an

[00:16:13] [SPEAKER_00]: entrepreneur is someone who is a creative problem solver and is

[00:16:18] [SPEAKER_00]: willing to take risks to help even more people at even almost

[00:16:23] [SPEAKER_00]: to the detriment or expense of their selves if they're not

[00:16:26] [SPEAKER_00]: careful, themselves in their personal relationships and

[00:16:28] [SPEAKER_00]: family if they're not careful. And not everyone's an

[00:16:31] [SPEAKER_00]: entrepreneur. There's some great business owners. But not

[00:16:34] [SPEAKER_00]: everyone's an entrepreneur. But entrepreneurship, I believe is

[00:16:39] [SPEAKER_00]: where you can let your creativity that is like once you

[00:16:42] [SPEAKER_00]: become an entrepreneur, the failure is not possible. Like a

[00:16:45] [SPEAKER_00]: business owner can always close down their business but an

[00:16:47] [SPEAKER_00]: entrepreneur does never stop. Does that make sense? Okay, so

[00:16:52] [SPEAKER_00]: let me show you guys four ways to make six figures as a

[00:17:00] [SPEAKER_00]: physical therapist. Okay, because here's the problem. You

[00:17:04] [SPEAKER_00]: guys have probably paid a lot to go to school. I did. I didn't pay

[00:17:08] [SPEAKER_00]: probably as much as you guys. I think our tuition was $25,000 a

[00:17:13] [SPEAKER_00]: year, it was three years. So I probably had I think when I

[00:17:17] [SPEAKER_00]: graduated, I had $68,000 in federal student loans. So I just

[00:17:22] [SPEAKER_00]: took the maximum federal student loan I can't could I didn't take

[00:17:26] [SPEAKER_00]: private student loans. I had a little help from my parents. I

[00:17:28] [SPEAKER_00]: was working part time and my wife was working. So I was able

[00:17:31] [SPEAKER_00]: to make that work. And just so you guys know, I didn't pay off

[00:17:35] [SPEAKER_00]: my student loans as fast as possible. I paid them off as

[00:17:38] [SPEAKER_00]: slow as possible. Okay, my goal was to get out of school. And I

[00:17:45] [SPEAKER_00]: only consolidated the first year into a lower rate because I

[00:17:47] [SPEAKER_00]: could but then after that I couldn't. But I kept it as a

[00:17:50] [SPEAKER_00]: federal loan. I got on the graduate repayment plan because

[00:17:53] [SPEAKER_00]: it was the way for me to pay the least amount as possible. You

[00:17:56] [SPEAKER_00]: guys can hear people talking about Dave Ramsey is gonna tell

[00:17:58] [SPEAKER_00]: you, you know, eat rice or Roni and, and tuna and pay off your

[00:18:03] [SPEAKER_00]: student loans. My recommendation to you is only do that before

[00:18:07] [SPEAKER_00]: you go to PT school and you want to race bikes because when

[00:18:10] [SPEAKER_00]: I race bikes and lived in San Francisco, I couldn't I'd eat a

[00:18:13] [SPEAKER_00]: lot of tofu because I couldn't afford to like buy my own

[00:18:15] [SPEAKER_00]: chicken. You know, like, and that was worth it. But as a

[00:18:21] [SPEAKER_00]: physical therapist, your earning potential is much higher than a

[00:18:25] [SPEAKER_00]: temporary employee or a massage therapist. So ingrained

[00:18:29] [SPEAKER_00]: remember, I only wanted to work you know, four hours a day, four

[00:18:31] [SPEAKER_00]: days a week as a as a bike racer. I put $43,000 on my or

[00:18:37] [SPEAKER_00]: $45,000 on my credit cards racing bikes. But as a physical

[00:18:42] [SPEAKER_00]: therapist, your earning potential is much higher. So

[00:18:44] [SPEAKER_00]: delay paying back so you can invest the money in growing your

[00:18:49] [SPEAKER_00]: business, whether it's a primary business or a side hustle. So if

[00:18:53] [SPEAKER_00]: you can spend a year or two finding a side hustle that

[00:18:56] [SPEAKER_00]: brings you in $2,000 a month. Now, you could just start

[00:18:59] [SPEAKER_00]: putting that to your loans if you want to pay it off, but

[00:19:01] [SPEAKER_00]: spend the time and invest the money you need to learn what you

[00:19:04] [SPEAKER_00]: need to learn, get the coaching you need to get to the point

[00:19:07] [SPEAKER_00]: where you've got an easy side hustle or an easy primary

[00:19:10] [SPEAKER_00]: business. And then only it was only two years ago. Once my

[00:19:16] [SPEAKER_00]: clinic was fully automated and my coaching business started

[00:19:18] [SPEAKER_00]: taking off, I said, Hey, I'm going to put some extra money

[00:19:21] [SPEAKER_00]: into my student loans in big chunks. And I was able to pay it

[00:19:25] [SPEAKER_00]: off. But I it took me 10 years. Does that make sense? Making

[00:19:29] [SPEAKER_00]: sense for you guys? So how are we going to make six figures?

[00:19:32] [SPEAKER_00]: One, go get a home health job. Get a home health job and

[00:19:38] [SPEAKER_00]: negotiate a salary where you're making over six figures. Okay,

[00:19:41] [SPEAKER_00]: which is great. But not a lot of us got into PT to do a home

[00:19:44] [SPEAKER_00]: health. So you could do that and make some money and you know,

[00:19:48] [SPEAKER_00]: you've got flexibility, you could start a side hustle. It's

[00:19:50] [SPEAKER_00]: a great way to start a side hustle. But I've worked with

[00:19:53] [SPEAKER_00]: people who like Alexis Sams was making $108,000 a year doing

[00:19:58] [SPEAKER_00]: home health in Phoenix. And she had it was she was had too good.

[00:20:02] [SPEAKER_00]: And it was really hard for her to move into her cash practice.

[00:20:05] [SPEAKER_00]: It took her three years of doing cash practice as a side hustle

[00:20:08] [SPEAKER_00]: when she finally decided to commit and quit her job. Through

[00:20:11] [SPEAKER_00]: the coaching program that we did together, she tripled her

[00:20:15] [SPEAKER_00]: income, or she went from 2900 a month to 8900 in three months.

[00:20:21] [SPEAKER_00]: Right? So she got back to her six figure level in three months.

[00:20:25] [SPEAKER_00]: But taking that leap was one of the hardest things she had to

[00:20:28] [SPEAKER_00]: do. And she did it because we I was able to put together a plan

[00:20:32] [SPEAKER_00]: for her. But getting a home health job, you'll make six

[00:20:35] [SPEAKER_00]: figures great. Okay, let's say you're in this for an ortho job.

[00:20:38] [SPEAKER_00]: And I don't have anything to draw right now. You're like, I

[00:20:41] [SPEAKER_00]: want to work with you know, orthopedics, whatever, but they

[00:20:44] [SPEAKER_00]: don't didn't pay as well. Great. Do the job because you love it.

[00:20:48] [SPEAKER_00]: But find another problem you can solve and start a side

[00:20:51] [SPEAKER_00]: hustle. And it can be as a cash practice. It could be doing

[00:20:55] [SPEAKER_00]: something online, you can bring in if you bring in $2,000 a

[00:20:58] [SPEAKER_00]: month with a job paying you $76,000 a year, your $2,000 a

[00:21:04] [SPEAKER_00]: month side hustles 24 and now you've got $100,000 a year as a

[00:21:07] [SPEAKER_00]: PT. So a side hustle, it can be online, it can be through social

[00:21:11] [SPEAKER_00]: media. If you do it right. You should be if you're if you're

[00:21:16] [SPEAKER_00]: doing social media, you have followers, you should be

[00:21:18] [SPEAKER_00]: expecting to make a minimum of $10 per follower or per email

[00:21:24] [SPEAKER_00]: address per month. So if you start collecting leads,

[00:21:29] [SPEAKER_00]: followers are not dollars and followers aren't leads, they

[00:21:31] [SPEAKER_00]: don't belong to you, they need to be on your email list. And a

[00:21:36] [SPEAKER_00]: few people do it right. A lot of people are just out there to get

[00:21:39] [SPEAKER_00]: followers. So how can we get all you need is one person to pay

[00:21:42] [SPEAKER_00]: you $2,000 a month to go to their house every morning and

[00:21:46] [SPEAKER_00]: make them breakfast or write their training program once a

[00:21:49] [SPEAKER_00]: week and meet with them at the gym twice a week. And that's

[00:21:53] [SPEAKER_00]: really all you need. So that's the other way to do it. So think

[00:21:56] [SPEAKER_00]: about like, what can I do Friday evenings before I go out right

[00:22:00] [SPEAKER_00]: now we're on, let's not we're not going out. So what can I do on

[00:22:03] [SPEAKER_00]: Friday night before I watch a movie needs popcorn or Saturday

[00:22:06] [SPEAKER_00]: morning for four hours. It doesn't take much time to do it.

[00:22:11] [SPEAKER_00]: You just have to figure out what people want you to help them

[00:22:14] [SPEAKER_00]: with. Okay, the third way to do this is to start your own

[00:22:18] [SPEAKER_00]: business, you have to charge what you're worth. So don't charge

[00:22:21] [SPEAKER_00]: anything less than $150 a visit, more like 200 to 250

[00:22:26] [SPEAKER_00]: should be what you should be looking at charging. How do you

[00:22:30] [SPEAKER_00]: do that you don't charge per hour you you create a plan of

[00:22:33] [SPEAKER_00]: care for people and you position the value of what you

[00:22:37] [SPEAKER_00]: can do for them versus the cost of the plan of care. And

[00:22:41] [SPEAKER_00]: depending on what you charge and how many patients you want to

[00:22:42] [SPEAKER_00]: see, like I showed you before you can bring in you know 150

[00:22:46] [SPEAKER_00]: you know just working nine patients a week charging what we

[00:22:50] [SPEAKER_00]: charge my clinic is $108,000 a year. And that's just nine one

[00:22:54] [SPEAKER_00]: on one visits a week. And so depending on how many people I

[00:22:57] [SPEAKER_00]: see, you know that limits your earning potential until you

[00:23:00] [SPEAKER_00]: start hiring other people. Or four would be to start an online

[00:23:04] [SPEAKER_00]: business like you can take your side hustle and and all you got

[00:23:06] [SPEAKER_00]: to do is generate $8,400 and how would you do that? That's 28

[00:23:12] [SPEAKER_00]: course sales at $297 this is one of my mastermind members Marcy

[00:23:16] [SPEAKER_00]: Crouch did this she's the down there doc on Instagram. She just

[00:23:20] [SPEAKER_00]: did this in January, you just automate that every month or

[00:23:24] [SPEAKER_00]: 4.2 private coaching clients at $2,000 each. So that's one new

[00:23:30] [SPEAKER_00]: coaching client a month at a $2,000. So think about this for

[00:23:34] [SPEAKER_00]: $2,000 how long would you train someone? My coach Pedro I learned

[00:23:38] [SPEAKER_00]: a lot of stuff from outside the PT industry my coach Pedro's

[00:23:41] [SPEAKER_00]: cool in he's the CEO of fit body boot camp now when he was a

[00:23:45] [SPEAKER_00]: personal trainer he did he would sell like 12 and 18 month

[00:23:49] [SPEAKER_00]: coaching packages because he's training people so we can train

[00:23:52] [SPEAKER_00]: people to we're not doing just personal training we're doing

[00:23:54] [SPEAKER_00]: almost like skilled performance rehab training right? So think

[00:24:00] [SPEAKER_00]: of like what would that 12 month program look like? We're 18

[00:24:03] [SPEAKER_00]: month program he sold was he sold like $83,000 in personal

[00:24:07] [SPEAKER_00]: training in one day. There's a personal trainer who didn't

[00:24:11] [SPEAKER_00]: graduate from community college. So the number the

[00:24:16] [SPEAKER_00]: number two lesson I want you guys to leave here with is that

[00:24:20] [SPEAKER_00]: while you are a highly educated physical therapist, if you want

[00:24:25] [SPEAKER_00]: to be successful in business, you have to start studying

[00:24:28] [SPEAKER_00]: business. You have to understand you need to work with teachers,

[00:24:32] [SPEAKER_00]: professors, clinical instructors or mentors and coaches and find

[00:24:35] [SPEAKER_00]: groups of people like mastermind groups who are doing what you're

[00:24:38] [SPEAKER_00]: doing. And always be don't be the smartest person in the room.

[00:24:44] [SPEAKER_00]: Because your ego, your ego around how good you are at

[00:24:48] [SPEAKER_00]: physical therapy and helping people is going to get in your

[00:24:49] [SPEAKER_00]: way of being successful in business. Because you're going

[00:24:52] [SPEAKER_00]: to be afraid to ask a question look stupid. You're gonna be

[00:24:56] [SPEAKER_00]: afraid to ask for help. And you're going to second guess

[00:24:59] [SPEAKER_00]: the advice given to you especially if it's free. But

[00:25:01] [SPEAKER_00]: even if it's paid, you know, do you think I should do that?

[00:25:04] [SPEAKER_00]: Because I'm going to sit here and analyze it forever and never

[00:25:07] [SPEAKER_00]: remove the people that I work with who are the most successful

[00:25:10] [SPEAKER_00]: or quick to ask for help. So this is where you set your ego

[00:25:14] [SPEAKER_00]: side go can if I want to learn something to be really good at

[00:25:16] [SPEAKER_00]: something I need to ask for help. Because it's not that I

[00:25:19] [SPEAKER_00]: can't go figure it out on my own. It's it why would I have to

[00:25:22] [SPEAKER_00]: figure it out on my own if someone already knows how to do

[00:25:25] [SPEAKER_00]: this and I can just buy the time from them. So like I said before,

[00:25:29] [SPEAKER_00]: I buy my time back, I would rather pay someone $5,000 even

[00:25:33] [SPEAKER_00]: $50,000 a year to give me the shortcut to where I want to go

[00:25:40] [SPEAKER_00]: to making 3 million a year. I want the shortcut to that someone

[00:25:43] [SPEAKER_00]: to pay $50,000 a year to my coach to get that. Now coaching

[00:25:47] [SPEAKER_00]: costs the same. But that's what you know, I'm like, Okay, I'm

[00:25:51] [SPEAKER_00]: going to shorten that curve. So I'm going to pay to go find it.

[00:25:54] [SPEAKER_00]: So you're quick to ask for help. And you're quick to take action.

[00:25:59] [SPEAKER_00]: If you sit on the fence and think well, I couldn't that

[00:26:02] [SPEAKER_00]: possibly won't work for me or what are all the negative

[00:26:05] [SPEAKER_00]: consequences of this happening? It's going to be much harder to

[00:26:09] [SPEAKER_00]: find success. So in action beats anxiety. So if you have any

[00:26:15] [SPEAKER_00]: anxiety or stress about some just take action on something

[00:26:19] [SPEAKER_00]: and delays kill dreams. So if you delay the longer you delay,

[00:26:22] [SPEAKER_00]: the less likely you are to achieve your goals. And three,

[00:26:28] [SPEAKER_00]: the most successful people are quick to share their wins and

[00:26:31] [SPEAKER_00]: their lessons. So how did I get here? I was just sharing my

[00:26:37] [SPEAKER_00]: sharing what worked for me on like LinkedIn groups on PPS,

[00:26:41] [SPEAKER_00]: like web forums that you guys probably may or may not remember

[00:26:43] [SPEAKER_00]: is before Facebook groups were exist, I was just sharing what I

[00:26:46] [SPEAKER_00]: knew with other people. And then people started asking me, Aaron,

[00:26:49] [SPEAKER_00]: can you help me? Can I pay you to help me? And that's how my

[00:26:52] [SPEAKER_00]: coaching business was born because I was sharing what I

[00:26:54] [SPEAKER_00]: learned. So those are the those are the big three things are

[00:27:00] [SPEAKER_00]: actually the big four. Don't let anyone stomp on your dreams.

[00:27:04] [SPEAKER_00]: The moment you find a hater, it means you're doing something

[00:27:07] [SPEAKER_00]: right. So we'd love to know what, what was your number one

[00:27:12] [SPEAKER_00]: insight or what was what was myself for you guys? Can you put

[00:27:15] [SPEAKER_00]: it in the chat? And then Braden says I was a fitness facility

[00:27:22] [SPEAKER_00]: charging 11,000 for 200 sessions, do you recommend the

[00:27:25] [SPEAKER_00]: more sessions equals less money per session model, I would say,

[00:27:28] [SPEAKER_00]: find out what the result is that people want and charge

[00:27:32] [SPEAKER_00]: accordingly. So does someone want like, why do they want to

[00:27:37] [SPEAKER_00]: get strong or lose weight? Right? There's, there's a, what

[00:27:49] [SPEAKER_00]: was it the third one? Anyways, why do people want to why do

[00:27:54] [SPEAKER_00]: people want to, you know, not just lose weight or come to PT,

[00:27:57] [SPEAKER_00]: you got to find out why, like, what's the why behind the why

[00:27:59] [SPEAKER_00]: behind the why. And so if I can build a big enough reason why

[00:28:04] [SPEAKER_00]: this is called sales, then I can charge $11,000. And it doesn't

[00:28:08] [SPEAKER_00]: matter how many sessions I see that person, I can see them once

[00:28:11] [SPEAKER_00]: a week. But if I'm getting a result, I'm giving someone a

[00:28:13] [SPEAKER_00]: result that's worth $100,000 to them, then they'll pay 11 for it

[00:28:19] [SPEAKER_00]: in a heartbeat. Does that make sense? Braden? Is that making

[00:28:22] [SPEAKER_00]: sense? James says, because you mentioned what you recommend to

[00:28:26] [SPEAKER_00]: charge per hour per patient, you have to charge what you're

[00:28:28] [SPEAKER_00]: comfortable with, and then go up into the uncomfort zone, like

[00:28:32] [SPEAKER_00]: maybe 10 20% more, but somewhere around 200, like 199 to you know,

[00:28:38] [SPEAKER_00]: 250. But I know people charging 350, even 450 per hour, because

[00:28:42] [SPEAKER_00]: they're not charging per hour, they're charging for a plan of

[00:28:44] [SPEAKER_00]: care. Remember, the hospitals are going to build $600 per unit

[00:28:48] [SPEAKER_00]: for your services. I've seen $1,000 per unit. And patients

[00:28:52] [SPEAKER_00]: are getting stuck with these bills. And some patients are

[00:28:54] [SPEAKER_00]: paying $20. But what's the what's it worth to save

[00:28:58] [SPEAKER_00]: someone's life? Keep them out of unnecessary surgery, to keep

[00:29:02] [SPEAKER_00]: them from having a physician tell them that they should never

[00:29:06] [SPEAKER_00]: bend forward again, because their disc will slip out and fly

[00:29:09] [SPEAKER_00]: across the room or some crazy bullshit thing like that. That

[00:29:13] [SPEAKER_00]: making sense? Braden says decreased pain. Sean says, most

[00:29:19] [SPEAKER_00]: helpful to me was the impact is greater than time is greater

[00:29:21] [SPEAKER_00]: than money. Yes, awesome. I'm glad that landed for you.

[00:29:25] [SPEAKER_00]: Thomas isn't glad that was a great insight. I love it. I'm

[00:29:28] [SPEAKER_00]: gonna have to, I'm gonna have to do that again. That just came

[00:29:30] [SPEAKER_00]: out of my head in that way. Abigail says I love the action

[00:29:34] [SPEAKER_00]: beats anxiety. Yes. And it helps value yourself. Yes. So what you

[00:29:39] [SPEAKER_00]: guys are doing, just think about this is really easy analogy is

[00:29:44] [SPEAKER_00]: especially for pelvic PTS. Are there any pelvic PTs here? Just

[00:29:46] [SPEAKER_00]: put pelvic PT in the chat. Let me know. Is anyone here that

[00:29:49] [SPEAKER_00]: knows they're going to do specialty in pelvic PT? This is

[00:29:51] [SPEAKER_00]: a very easy analogy. My friends who are pelvic PTs, one of the

[00:29:56] [SPEAKER_00]: most transformational things they do is help people have sex

[00:30:00] [SPEAKER_00]: comfortably again. So if sex is painful, and you came to see me

[00:30:04] [SPEAKER_00]: and within, you know, six to 12 weeks, I could help you have sex

[00:30:08] [SPEAKER_00]: with your partner again, like is there an amount of money you

[00:30:10] [SPEAKER_00]: would put on that? Right? I mean, you'd mortgage your house

[00:30:15] [SPEAKER_00]: to get it. Probably. So why is it important? Why is that

[00:30:20] [SPEAKER_00]: important to you? So like, okay, that's easily worth $2,000 plan

[00:30:24] [SPEAKER_00]: of care. And if I can do that in eight visits in the course of

[00:30:28] [SPEAKER_00]: you know, 10 to 12 weeks, wouldn't you be on board with

[00:30:31] [SPEAKER_00]: that program? Okay, there's a little harder when we're talking

[00:30:34] [SPEAKER_00]: about CrossFit athletes. So what we have to do is that okay,

[00:30:39] [SPEAKER_00]: what's wrong? Okay, my knee hurts. Okay, what's it keeping

[00:30:41] [SPEAKER_00]: you from doing going to CrossFit and squatting? Okay, why is

[00:30:44] [SPEAKER_00]: squatting so important was because I go to CrossFit and

[00:30:46] [SPEAKER_00]: hang out with my bros, or my community? Right? Why is going

[00:30:52] [SPEAKER_00]: to CrossFit like, I mean, you could go to yoga. Oh, well,

[00:30:55] [SPEAKER_00]: CrossFit makes me feel x, y, and z. Okay, great. Why is feeling

[00:30:58] [SPEAKER_00]: strong? So important to you? This is what someone told me.

[00:31:01] [SPEAKER_00]: Oh, because I want to feel like I can run across, run across the

[00:31:05] [SPEAKER_00]: room and you know, or like, run across the parking lot and jump

[00:31:08] [SPEAKER_00]: over the fence. Okay, great. Why is being able to run across the

[00:31:12] [SPEAKER_00]: room and jump over the fence so important to you? You know, it's

[00:31:14] [SPEAKER_00]: like, oh, so I get like, basically, if someone's chasing

[00:31:17] [SPEAKER_00]: me, I know I can defend myself and get away. Okay, great. So

[00:31:21] [SPEAKER_00]: Mrs. Jones, you told me your knee hurts. And in the next 10

[00:31:24] [SPEAKER_00]: weeks, our goal is to help you feel strong and confident enough

[00:31:27] [SPEAKER_00]: so you can run across, you know, a parking lot and jump a fence

[00:31:30] [SPEAKER_00]: and defend yourself if you have to, right? Yes. Okay, great. I

[00:31:33] [SPEAKER_00]: can do that. It's going to take about 10 to 12 weeks. And it's

[00:31:38] [SPEAKER_00]: just 12. It's just 1998. And what we're gonna do is when you

[00:31:43] [SPEAKER_00]: move forward, I'm going to show you two exercises today. And do

[00:31:46] [SPEAKER_00]: a little treatment and schedule your next visit so that you can

[00:31:48] [SPEAKER_00]: feel go back to CrossFit. Not worry about your go back to

[00:31:52] [SPEAKER_00]: CrossFit, lift and squat every day so you can feel strong,

[00:31:56] [SPEAKER_00]: confident and healthy. And like you can run across the room and

[00:31:58] [SPEAKER_00]: jump over the fence easily without worrying about doing

[00:32:01] [SPEAKER_00]: any more damage to your knees. How's that sound? And she goes,

[00:32:04] [SPEAKER_00]: Hell yes, sign me up. Do you see how? Do you see how that

[00:32:08] [SPEAKER_00]: switches things around? So we're no longer trading time for money

[00:32:12] [SPEAKER_00]: and we're not selling physical therapy based on time. We're

[00:32:15] [SPEAKER_00]: selling it based on the result. Let's see, could you talk about

[00:32:23] [SPEAKER_00]: at all about neuro cash based PT or other specialties? Yes. So

[00:32:26] [SPEAKER_00]: here, let's do this. I know there are a couple questions. So

[00:32:28] [SPEAKER_00]: what I want you guys to do is put type in q or question and

[00:32:31] [SPEAKER_00]: then type out your question and let me know what it is. Happy to

[00:32:33] [SPEAKER_00]: spend some time answering some questions. I know there are a

[00:32:36] [SPEAKER_00]: few others. Neuro cash based PT or other specialties? Yes, it

[00:32:41] [SPEAKER_00]: works. So what you're selling isn't physical therapy, and it's

[00:32:44] [SPEAKER_00]: not the treatment technique. And you're not selling, you know,

[00:32:48] [SPEAKER_00]: rehab for a body part, you're helping people, you're helping

[00:32:52] [SPEAKER_00]: solve problems with people and creating meaningful change in

[00:32:56] [SPEAKER_00]: their life. And we can do that. And people if people find value

[00:33:01] [SPEAKER_00]: in what you're doing, they'll pay cash for it. So yeah, I mean,

[00:33:08] [SPEAKER_00]: neuro PT people like oh, how neuro and peds like it's

[00:33:11] [SPEAKER_00]: definitely covered by insurance, not everything is. And even if

[00:33:14] [SPEAKER_00]: things are covered by insurance, people expect a higher level of

[00:33:18] [SPEAKER_00]: service. What's the largest scaled cash based clinic you've

[00:33:25] [SPEAKER_00]: personally seen? There are a couple of them come to mind.

[00:33:31] [SPEAKER_00]: John Barnes has a clinic he does. He teaches myofascial

[00:33:35] [SPEAKER_00]: release and he's got a clinic in Sedona and Paoli with five or

[00:33:39] [SPEAKER_00]: six therapists in each. Ian Kornbluth owns ActiveCore. And

[00:33:44] [SPEAKER_00]: he's got a clinic in Denver, New Jersey, Maryland, Pennsylvania,

[00:33:52] [SPEAKER_00]: and Georgia and somewhere else. And he's got about 20 employees.

[00:33:57] [SPEAKER_00]: One of my coaching clients, Ben Baggy has a clinic in Oakland

[00:34:02] [SPEAKER_00]: with three PTs and generate 65,000 a month. He started a

[00:34:07] [SPEAKER_00]: second clinic in LA when he was down there for two months at the

[00:34:10] [SPEAKER_00]: end of last year, and he's building out a new, he's already

[00:34:13] [SPEAKER_00]: got his third clinic up in Iowa when he moved back home in

[00:34:17] [SPEAKER_00]: December. And I've no doubt that he'll build that up. I've worked

[00:34:21] [SPEAKER_00]: with this guy Yohei Takada in New York City, who's got five

[00:34:26] [SPEAKER_00]: other PTs working for him in Manhattan, and with a clinic

[00:34:30] [SPEAKER_00]: location like somewhere north of

[00:34:34] [SPEAKER_00]: New York City. So, you know, they exist. It's just all about

[00:34:36] [SPEAKER_00]: it's not a question that will it work? It's just is that is it

[00:34:40] [SPEAKER_00]: what you want to do? And can we make it? Do you want to make it

[00:34:42] [SPEAKER_00]: work? Does that make sense? Okay, Abigail asked a great

[00:34:47] [SPEAKER_00]: question. What do you do if people aren't able to afford to

[00:34:49] [SPEAKER_00]: pay that? Do you ever run into people not coming back because

[00:34:51] [SPEAKER_00]: they can't afford sessions? Yes. And price isn't the objection.

[00:34:57] [SPEAKER_00]: It's lack of perceived value. And the biggest thing in

[00:35:00] [SPEAKER_00]: physical therapy, there are some people that just can't

[00:35:03] [SPEAKER_00]: afford it, but they can't afford a $20 copay either. They would

[00:35:06] [SPEAKER_00]: never you know, in North Carolina, we didn't have a

[00:35:08] [SPEAKER_00]: Medicare expansion. So our Medicaid expansion, so

[00:35:11] [SPEAKER_00]: Medicaid covers one to three visits for people with Medicaid,

[00:35:16] [SPEAKER_00]: and you can only get the hospital and you only get three visits.

[00:35:20] [SPEAKER_00]: If you had an amputation or cancer, generally someone has

[00:35:23] [SPEAKER_00]: back pain, they get one visit. You know, the Medicaid

[00:35:26] [SPEAKER_00]: recipients don't have like expendable cash, but we see

[00:35:29] [SPEAKER_00]: farmers and teachers were like 38th on teacher pay. We see

[00:35:34] [SPEAKER_00]: blue collar workers, factory workers, people that work in

[00:35:38] [SPEAKER_00]: retail, and we see people that drive BMWs and Mercedes and

[00:35:42] [SPEAKER_00]: whatever. But it's the most difficult thing is that I cannot

[00:35:46] [SPEAKER_00]: guarantee you result. I can't say Mrs. Jones, in three weeks,

[00:35:51] [SPEAKER_00]: I'm going to make you $10,000. So when you get started today,

[00:35:54] [SPEAKER_00]: for just $2,000, I'm gonna show you how to make 10 out of it.

[00:35:57] [SPEAKER_00]: There's no math. It's I can't put math, I can't put a number on

[00:36:01] [SPEAKER_00]: their on their change. I can't say, hey, this is worth $10,000

[00:36:05] [SPEAKER_00]: to this life changing these aren't worth. There's no amount

[00:36:09] [SPEAKER_00]: of money. So we have to build value in a different way. And

[00:36:12] [SPEAKER_00]: the problem is, is that people can afford it is just do they

[00:36:16] [SPEAKER_00]: there's a couple confounding factors. They feel like because

[00:36:20] [SPEAKER_00]: they spend a lot of money on insurance, they're owed

[00:36:22] [SPEAKER_00]: something by their insurance. And so sometimes out of

[00:36:24] [SPEAKER_00]: principle, they won't pay. Even though they know that we're a

[00:36:28] [SPEAKER_00]: better option. We've had people tell us this, even though they

[00:36:30] [SPEAKER_00]: know they're like, well, I've just been paying them so much

[00:36:32] [SPEAKER_00]: they should pay. So out of principle, they'll go somewhere

[00:36:35] [SPEAKER_00]: and in an admit to us, they got crappy care, but that was their

[00:36:39] [SPEAKER_00]: priority. Others will come in and they'll realize I didn't get

[00:36:43] [SPEAKER_00]: healed in one session. So it's not worth it. What they're

[00:36:46] [SPEAKER_00]: looking for is a quick fix. They think physical therapy is gonna

[00:36:48] [SPEAKER_00]: be this quick miracle fix. And I was just telling Dr. Herzog who

[00:36:52] [SPEAKER_00]: works for me today, I was like, I told her about this one

[00:36:55] [SPEAKER_00]: instance I had with a cross player. It was like the

[00:36:56] [SPEAKER_00]: miracle. I said, but that only works one in 20 times. You know,

[00:37:01] [SPEAKER_00]: and maybe not even that much. It was a miracle. So people are

[00:37:05] [SPEAKER_00]: expecting have so we have to mitigate their expectations.

[00:37:09] [SPEAKER_00]: There's so many factors. So yes, there are plenty of people that

[00:37:11] [SPEAKER_00]: don't. So how do we make it more affordable to people that really

[00:37:15] [SPEAKER_00]: can't afford it? That would be called group programs. So there's

[00:37:19] [SPEAKER_00]: a group program I can do that's not, I'm not trying to do

[00:37:22] [SPEAKER_00]: one on one physical therapy with four people in an hour. It's

[00:37:25] [SPEAKER_00]: how could I charge 10 people $20 to come work with me for an hour,

[00:37:29] [SPEAKER_00]: or even shit, I'm a physical doctor physical therapy, pay me

[00:37:32] [SPEAKER_00]: $35 for this one hour class. And now when 20 people come, what am

[00:37:38] [SPEAKER_00]: I making $700 for that hour? Right? Okay, great. Everyone can

[00:37:46] [SPEAKER_00]: afford $35 or even 20. I mean, most people could afford that.

[00:37:52] [SPEAKER_00]: And with a group of 20 people, I can go around and find out

[00:37:54] [SPEAKER_00]: what's wrong with you. And if you guys don't know, I'm a yoga

[00:37:57] [SPEAKER_00]: teacher, I'm a red, not registering work, certified yoga

[00:38:02] [SPEAKER_00]: teacher, as an endophysical therapist, I can go around and

[00:38:04] [SPEAKER_00]: find out, okay, where's the problem I can modify for

[00:38:07] [SPEAKER_00]: everybody, and give them something to learn. And it's

[00:38:10] [SPEAKER_00]: new. So I've made 1000s of dollars doing that for

[00:38:14] [SPEAKER_00]: marketing. So I make money doing the marketing and we get new

[00:38:17] [SPEAKER_00]: patients out of it.

[00:38:21] [SPEAKER_00]: Would you recommend having a side hustle up and running

[00:38:23] [SPEAKER_00]: before having graduated? Or would you say focus on being a

[00:38:26] [SPEAKER_00]: new grad and then try to form a second form of cash flow depends

[00:38:29] [SPEAKER_00]: on what you want. If you know, ultimately, you're going to own a

[00:38:31] [SPEAKER_00]: business, get started. There's no reason to wait. Waiting is

[00:38:36] [SPEAKER_00]: just going to delay everything. But if you're a little unsure,

[00:38:40] [SPEAKER_00]: you try it, see if you like it. You can always fall back on

[00:38:44] [SPEAKER_00]: getting a job. But if you know it's what you want to do,

[00:38:48] [SPEAKER_00]: there's no reason to wait for a specific thing to happen.

[00:38:51] [SPEAKER_00]: Because I've worked with people who are PT school dropouts and

[00:38:54] [SPEAKER_00]: have businesses, people who never treated another patient

[00:38:58] [SPEAKER_00]: and have successful physical therapy businesses. How much did

[00:39:04] [SPEAKER_00]: it cost to start your your business? This is Jeffrey, can

[00:39:06] [SPEAKER_00]: you talk about your biggest mistake? How many sessions do

[00:39:08] [SPEAKER_00]: you typically see patients a lot of questions? How long until

[00:39:11] [SPEAKER_00]: you began turning a profit? Okay, how much did it cost to

[00:39:14] [SPEAKER_00]: start my business? I think I started with $5,000 in the

[00:39:18] [SPEAKER_00]: bank. I've put other money into it over time, but I've gotten a

[00:39:23] [SPEAKER_00]: lot of money out of it. Can you talk about your biggest

[00:39:25] [SPEAKER_00]: mistake? I think the number one thing would be not moving from

[00:39:31] [SPEAKER_00]: self employed to employ in business owner soon soon enough.

[00:39:35] [SPEAKER_00]: It took me five years that I didn't have other physical

[00:39:38] [SPEAKER_00]: therapists around me who believed in what I was doing. And it took

[00:39:41] [SPEAKER_00]: me meeting someone else, seeing what he was doing. This is my

[00:39:46] [SPEAKER_00]: friend Paul golf. And we chatted and we he came up here to

[00:39:49] [SPEAKER_00]: Greensboro, sat down, sir. I was like, Oh, we speak the same

[00:39:53] [SPEAKER_00]: language, not just English, but like our brains work very

[00:39:56] [SPEAKER_00]: similarly. I was like, Oh, this is how I can do it. I was like,

[00:39:59] [SPEAKER_00]: I saw it. So generally, I get that from like my coaches and

[00:40:02] [SPEAKER_00]: mentors. But I also get that from my success partners where I

[00:40:05] [SPEAKER_00]: can see someone else like me doing it. And like, aha. So this

[00:40:08] [SPEAKER_00]: is why I said you have to be in a room full of people that are

[00:40:10] [SPEAKER_00]: more successful than you. Because or more successful than

[00:40:13] [SPEAKER_00]: you in certain areas. So you can see what success looks like

[00:40:16] [SPEAKER_00]: because success leaves clues. How many sessions do I typically

[00:40:20] [SPEAKER_00]: see patients for? It depends, I would say on average, five to

[00:40:25] [SPEAKER_00]: eight, but I've seen people for 20. I've even seen some people

[00:40:28] [SPEAKER_00]: like over the course of years for you know, 6060 80 visits,

[00:40:33] [SPEAKER_00]: you know, multiple things going on. That's rare, just like the

[00:40:37] [SPEAKER_00]: one visit wonder is rare, you know, in someone's heel. How

[00:40:40] [SPEAKER_00]: long till I began turning a profit? My wife had a second

[00:40:45] [SPEAKER_00]: baby, so probably our second month, like our first baby on

[00:40:48] [SPEAKER_00]: the way to two months. She was eight months pregnant when I

[00:40:51] [SPEAKER_00]: started so probably our second month. My expenses and overhead

[00:40:55] [SPEAKER_00]: was extremely low. Can talk about how to find the right mentors or

[00:40:59] [SPEAKER_00]: even how to find one also can speak on the topic of investing

[00:41:02] [SPEAKER_00]: yourself and spending money to make you a better clinician.

[00:41:05] [SPEAKER_00]: Yes. So great question, Justin, how do you find the right

[00:41:08] [SPEAKER_00]: mentors? Well, you go find someone who's doing what you're

[00:41:11] [SPEAKER_00]: doing, who has the knowledge that you want and experience

[00:41:14] [SPEAKER_00]: that you want, and find out how to work with them or absorb

[00:41:19] [SPEAKER_00]: everything they've got. If you want to get there faster, you

[00:41:23] [SPEAKER_00]: know, pay to work with them because I'll get you there

[00:41:24] [SPEAKER_00]: faster. It's just like paying to go to con Ed, I'm going to learn

[00:41:28] [SPEAKER_00]: manipulations faster going to a con Ed course than I would

[00:41:32] [SPEAKER_00]: watching manipulations on YouTube. I can study it. I can

[00:41:37] [SPEAKER_00]: read about it in a textbook but at you know, if I can have

[00:41:39] [SPEAKER_00]: someone hovering over me helping me place my hands and doing it,

[00:41:43] [SPEAKER_00]: it's going to go much faster. How do you yourself so the topic

[00:41:49] [SPEAKER_00]: of investing yourself like you're your own best asset. So

[00:41:52] [SPEAKER_00]: you've just spent three years getting clinically proficient. If

[00:41:57] [SPEAKER_00]: you want to own a business clinical proficiency doesn't

[00:42:00] [SPEAKER_00]: matter. You just have to be able to give people a good

[00:42:03] [SPEAKER_00]: result. You just have to be one step ahead of where they are.

[00:42:07] [SPEAKER_00]: And you're already one step ahead of basically where all

[00:42:09] [SPEAKER_00]: your patients are going to be. It's rare that you're going to

[00:42:12] [SPEAKER_00]: have a patient who's been a physical therapist for 20

[00:42:15] [SPEAKER_00]: years. And even if they are, if they're a good patient, they're

[00:42:18] [SPEAKER_00]: going to listen to you because you've got outside eyes. So

[00:42:21] [SPEAKER_00]: it's not just about being more experienced as someone. It's

[00:42:25] [SPEAKER_00]: about having outside eyes and an outside perspective. It's like

[00:42:27] [SPEAKER_00]: as a coach, is like you're in the forest, like running or

[00:42:32] [SPEAKER_00]: doing your what's it called? What are you orienteering?

[00:42:35] [SPEAKER_00]: Right, you're going down. I'm in the helicopter. And I can see

[00:42:39] [SPEAKER_00]: down through the trees and tell you to turn left or right. If

[00:42:42] [SPEAKER_00]: you turn right, you're gonna run over the cliff, I can say, Hey,

[00:42:45] [SPEAKER_00]: turn left in 100 meters, and you're gonna hit the highway.

[00:42:48] [SPEAKER_00]: And that's what a good coach can do is not tell you exactly how

[00:42:51] [SPEAKER_00]: to do everything, but help you navigate so you get there

[00:42:54] [SPEAKER_00]: quicker rather than just running straight and being in the forest

[00:42:57] [SPEAKER_00]: forever. Is it worth Rachel says, is it worth considering

[00:43:04] [SPEAKER_00]: going through insurance and doing cash based PT to offer a

[00:43:06] [SPEAKER_00]: variety if you're an owner or if your business allows it? Yes. If

[00:43:10] [SPEAKER_00]: you could do insurance, one of my coaching clients, Janae. Is

[00:43:15] [SPEAKER_00]: it Janae Brown? She's out in like San Pedro, California, she

[00:43:19] [SPEAKER_00]: has one insurance like the local 509 like what's it called

[00:43:26] [SPEAKER_00]: like, dockworkers Association, they pay like $185 a visit no

[00:43:30] [SPEAKER_00]: matter what they do. So like, there's no reason for her not to

[00:43:34] [SPEAKER_00]: do it. It's really easy. And then they do cash for the

[00:43:37] [SPEAKER_00]: everyone else or you know, I think they are in network or

[00:43:40] [SPEAKER_00]: contracted with two insurance companies. So yeah, I mean, if

[00:43:43] [SPEAKER_00]: if insurance is going to pay you enough to feed the family and

[00:43:47] [SPEAKER_00]: keep the lights on and leverage your time like utilize it, but

[00:43:51] [SPEAKER_00]: it's just going down and down and down. It's much harder and

[00:43:53] [SPEAKER_00]: harder to get the money. But a combination is perfectly great.

[00:43:57] [SPEAKER_00]: And some people start with Medicare plus cash and

[00:43:58] [SPEAKER_00]: eventually, we don't Medicare or Blue Cross plus cash. What's my

[00:44:03] [SPEAKER_00]: take on residency programs as it seems they're getting more

[00:44:05] [SPEAKER_00]: popular by the year for considering cash PT? I think

[00:44:09] [SPEAKER_00]: there's a lot. It is that I think there's a last one is a

[00:44:12] [SPEAKER_00]: great one to end on. If you want to own a business, don't go

[00:44:17] [SPEAKER_00]: don't go through a residency program, OCS or WCS, a certified

[00:44:22] [SPEAKER_00]: specialty like designation is not going to get your patients

[00:44:27] [SPEAKER_00]: to pay you more. The learning process can help you as a

[00:44:30] [SPEAKER_00]: clinician. But the initials find your name, your patients

[00:44:35] [SPEAKER_00]: don't give a shit about them. They don't care. Your

[00:44:39] [SPEAKER_00]: professors and other people in our industry care, because it

[00:44:42] [SPEAKER_00]: makes them look good. And they feel confident about like I've

[00:44:45] [SPEAKER_00]: spent a lot of money doing this. If you want to own a

[00:44:47] [SPEAKER_00]: business and you want to help massive amount of people don't

[00:44:49] [SPEAKER_00]: waste your time. There's plenty of places to go learn how to

[00:44:52] [SPEAKER_00]: be a great manual therapist or women's health specialist or

[00:44:56] [SPEAKER_00]: orthopedic or, or was it whatever, whatever else. And you

[00:45:01] [SPEAKER_00]: can do it, you know, two or three weekends a year, you can

[00:45:03] [SPEAKER_00]: study you can practicing on your patients. But knowing the

[00:45:07] [SPEAKER_00]: nomenclature of joint movements is not going to get people to

[00:45:11] [SPEAKER_00]: pay you more or grow your business, you should spend that

[00:45:14] [SPEAKER_00]: time and money and effort studying business. But if you

[00:45:17] [SPEAKER_00]: want to be a great clinician, and you want to teach other

[00:45:20] [SPEAKER_00]: people in like the university level, like yeah, you should go

[00:45:23] [SPEAKER_00]: do a residency. Does that make sense? Hey, what's up? It's

[00:45:26] [SPEAKER_00]: Aaron. Thanks for listening to the show. Whenever you're ready.

[00:45:29] [SPEAKER_00]: Here's three ways I can help you grow your physical therapy

[00:45:31] [SPEAKER_00]: business. Number one, grab a free copy of my book. It's the

[00:45:35] [SPEAKER_00]: roadmap to launch grow and scale your physical therapy business.

[00:45:38] [SPEAKER_00]: Go to cash pt blueprint book.com or DM me the word book over on

[00:45:43] [SPEAKER_00]: Instagram, and I'll send you a link to get it shipped to you

[00:45:45] [SPEAKER_00]: for free. Number two, join our cash pt blueprint case study

[00:45:49] [SPEAKER_00]: program. I'm putting together a new case to the group this

[00:45:52] [SPEAKER_00]: month. If you'd like to work with me to launch a six figure

[00:45:55] [SPEAKER_00]: cash practice and start seeing patients in just 90 days, send me

[00:45:58] [SPEAKER_00]: a message over on Instagram with the words case study, and I'll

[00:46:01] [SPEAKER_00]: apply back to you with all the details. Number three, you can

[00:46:04] [SPEAKER_00]: join our cash pt Academy coaching group. I meet with

[00:46:07] [SPEAKER_00]: dozens of successful cash practice owners weekly on zoom

[00:46:10] [SPEAKER_00]: to solve business headaches, brainstorm ideas, and teach the

[00:46:13] [SPEAKER_00]: latest marketing and business building strategies and tactics.

[00:46:17] [SPEAKER_00]: This is our coaching program that takes existing PT

[00:46:20] [SPEAKER_00]: businesses and helps them scale to six and multiple six figures

[00:46:23] [SPEAKER_00]: in just 12 to 24 months. If you've got a PT practice and

[00:46:26] [SPEAKER_00]: you're ready to add 10k a month or more to your revenue, you may

[00:46:29] [SPEAKER_00]: qualify to join us just DM me the word Academy over on

[00:46:32] [SPEAKER_00]: Instagram and I'll set up a time to chat and for some reason if

[00:46:36] [SPEAKER_00]: you're not one of those and you own a business brand you want to

[00:46:39] [SPEAKER_00]: work with me directly to help you add seven figures to your

[00:46:42] [SPEAKER_00]: business or another 250k this year. And you're looking for

[00:46:45] [SPEAKER_00]: private one on one coaching, VIP days, etc. And you'd like to

[00:46:49] [SPEAKER_00]: maybe partner together in your existing business. Send me a

[00:46:52] [SPEAKER_00]: message with the word private. Tell me about your situation,

[00:46:54] [SPEAKER_00]: what you want to work on together, and we'll set up a

[00:46:56] [SPEAKER_00]: time to talk to you. I'll see you next time. Peace