The P.t. Entrepreneur Podcast

In this podcast episode, we delve into the financials of a successful cash-based physical therapy practice located in a mid-sized market city. The practice has three clinicians and an owner who is able to balance a 40% schedule with other providers seeing between 70-90% of their schedules full. The practice is generating an average of $63,000 in top-line revenue with an average cost of $33,000 per month, resulting in a net profit of $30,000 per month. This equates to a net profit of $360,000 per year, which is three to four times higher than what most physical therapists anticipated they would be earning. Overall, this podcast offers valuable insights into the financial aspects of running a successful cash-based physical therapy practice and provides practical advice for those looking to build and grow their own business. Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply Do you enjoy the podcast? If so, leave us a

In this podcast episode, Dr. Danny shares his insights on entrepreneurship and whether it ever gets easier. He responds to a question from a member of the PT Biz Mastermind program who had recently experienced the departure of their second staff member after a year. Dr. Danny explains that although the stress and challenges associated with starting and running a business do not disappear, they do become more manageable over time. He compares it to parenting, where the problems become more complex, but one becomes better equipped to handle them. He also emphasizes the importance of the people one works with in a business, who can both bring joy and cause stress. Overall, this episode offers valuable insights into the challenges of entrepreneurship and the importance of seeking support and assistance to make the journey a little less daunting. Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply Do you enjoy the podcas

Today, Danny emphasizes the significance of time freedom and how entrepreneurship can lead to achieving it. He shares an amusing anecdote about his daughter's school performance, where she performed a trap version of "The Wheels on the Bus," to highlight this point. Dr. Danny also talks about how challenging it can be to take vacations while working for someone else, which is not the case for entrepreneurs who have the freedom to manage their time.  Dr. Danny stresses that financial freedom precedes time freedom and that it is worth the exchange. He values being present for his daughter's school activities, coaching her teams, and traveling with her, which he can only achieve due to his freedom of time as an entrepreneur. He draws on his experience in the military to compare the culture's lack of support for taking time off with entrepreneurship's advantages.  Dr. Danny encourages entrepreneurs to become better business owners, hire talented people, develop systems and processes that can run without them, a

In this episode, Dr. Danny delves into the topic of working with family and friends. He shares his personal experience of working with his wife in their practice and how they were able to divide and conquer by utilizing their skills and strengths. Dr. Danny recommends taking the Rocket Fuel assessment to determine if you and your spouse have complementary skills before considering working together.  The pros and cons of working with family and friends are discussed in detail, including the benefits of trust, ownership level efforts, and ease of finding employees. However, the cons include the potential for less professionalism, blurred lines between friend and boss, and difficulties when it comes to termination.  Danny advises listeners to be careful not to let family members be demeaning in a work setting and to consider how they are perceived in the present versus the past. Ultimately, the decision to work with family and friends is a personal one that should be based on careful consideration. Head to th

This week's Thursday episode comes to you from our PT Biz YouTube channel. If you have not had a chance to check it out, head to https://www.youtube.com/@ptbiztraining! Don't forget to subscribe! In this episode, Danny dives into the topic of raising prices as a means to increase revenue without increasing overhead. He emphasizes the importance of physical therapists charging an average hourly rate of $150 in order to be able to expand their business beyond themselves and maintain low volume. Furthermore, Danny encourages striving for a rate of $175-200 to allow for growth and hiring. Danny provides two strategies for raising prices, the first being a silent price raise where prices are simply adjusted without explanation. The second is a reactivation price raise, which involves reaching out to prior customers with an explanation of the price change and offering them the opportunity to purchase one package at the previous rate. He stresses the significance of painting a vision for the company and putting in

In this episode, Doc Danny discusses the potential of Artificial Intelligence (AI) in the physical therapy profession. He emphasizes how AI can improve efficiency in tasks such as research and document preparation, and gives examples of how AI is already being used in other professions. Although AI is not yet advanced enough to replace human physical therapists, it has the potential to revolutionize the field with personalized treatment plans, rehabilitation exercises, assistive technologies, predictive analytics, and telehealth.  AI in Physical Therapy: Exploring the Potential of Automation and Human Touch Discussion on Predictive Analytics, Telehealth, and Automation in Healthcare The Benefits of Electronic Documentation for Physical Therapists Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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

In this episode, we explore the topic of attracting talented individuals to a service-based organization. It can be challenging to find the right cultural fit for your business, especially within a small pool of people who would thrive in a cash practice setting. To overcome this challenge, it is crucial to have a clear and passionate vision for your company. How to share your vision The power of having a clear mission and vision in small businesses The benefits of clarity and mission-driven thinking Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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? If not, head to the link below and join the community! https://www.facebook.com/groups/ptentrepreneur/

In this episode of the podcast, Doc Danny discusses the significance of books and audiobooks in the pursuit of personal development. He shares his experience of reading his first book in this category, The Go-Giver, and how it took him months to finish. Doc Danny also explains how he found audiobooks easier to work with, but if a book was more tactical in nature, he would prefer to get the physical copy. He emphasizes that the quality and implementation of the information are more important than the number of books one reads.  Exploring the Balance of Contentment and Ambition Book Recommendations for Overwhelmed Individuals Discussion on Balancing Contentment and Growth in Life Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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? If not, head to the link

In this episode, Doc Danny talks about the significance of saying "no" and how it can be beneficial in saving time and reducing stress. He urges listeners to take a step back and evaluate their schedules to see if they have taken on too much by not saying "no" to unnecessary tasks. Danny also emphasizes the importance of being cautious about what entrepreneurs say "yes" to when starting a business as it can be overwhelming to handle tasks that are not crucial. Unlocking the Secrets to a Successful Cash and Hybrid Practice for Physical Therapists Managing Priorities and Saying No in Business From Part-Time to Full-Time: A Guide to Making the Transition in Your PT Business Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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? If not, head to the link below a

In this podcast episode, Doc Danny discusses the challenges of leadership in mid to large-size cash and hybrid practices. He shares his insight that leadership is a constantly changing target and can be challenging to master due to the many variables that come into play when dealing with different situations. Danny highlights the issue of high turnover rates and the importance of creating an environment that fosters a positive culture to retain good team members. Leading People in a Clinical Setting: Strategies for Success Maintaining Professional Distance with Staff: Benefits of Team Cohesion The Power of Expressing Gratitude to Employees Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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? If not, head to the link below and join the community! https://w

In this episode, Danny dives into the topic of business partners and whether or not it's a good idea to take on a staff member as a partner. He shares his own experiences with the Army. He explains that businesses that are not venture-backed are often cash-flow-driven and service-driven. Rather than asking if a person is the right fit to partner with, he suggests focusing on finding the ideal person who is good at things the business owner is not. Discussion on Equity in Non-Venture-Backed Companies The Value of Sweat Equity and Understanding Equity Ownership Negotiating Equity in a Business: Advice for Start-Ups Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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? If not, head to the link below and join the community! https://www.facebook.com/groups/pten

In this episode, Danny and Yves discuss the importance of shifting the mindset away from the traditional model of physical therapy towards a more proactive approach. They emphasize the need to focus on helping people achieve their long-term goals, rather than just discharging patients and maximizing productivity. They provide examples of individuals who want to stick around longer and how working with them can be beneficial for both the client and the business. Danny and Yves also emphasize the importance of providing value to clients and creating a great customer experience, using technology to make processes more repeatable, and ultimately achieving financial, time, and clinical freedom. Understanding the individual needs of patients Using technology to make processes more repeatable Providing value through emails, newsletters, and social media Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply Do you enjoy the

In this episode of the podcast, Danny brings to light an important aspect of entrepreneurship that is often overlooked - having a group of entrepreneur friends. He emphasizes the need for a supportive network of people who can help you navigate the challenges and celebrate the successes that come with running a business. Overall, this episode is a reminder that entrepreneurship can be a lonely journey and the importance of having a community of entrepreneur friends should not be underestimated. It's a great listen for anyone looking to grow their business and seek support from like-minded individuals. Navigating the challenges of business with a group The dangers of just leaning on family members for support How having a network leads to overall wellbeing Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply Do you enjoy the podcast? If so, leave us a 5-star review on iTunes and tell a friend to do the same! Are yo

In this episode, Danny discusses the importance of trying and failing, and how it can lead to success. He emphasizes that many people hesitate to try things because they fear failure. Danny shares his personal experiences with his kids and coaching teams, highlighting the difficulties of overcoming fear and self-doubt. He tells a story about his son's experience trying out for a school musical and how it led to newfound confidence. Enjoy! Taking risks in order to succeed If you are on the fence about something, go for it Without risks, life would be boring and uneventful Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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? If not, head to the link below and join the community! https://www.facebook.com/groups/ptentrepreneur/

In this podcast episode, the importance of tracking three critical areas for optimizing the customer experience and generating revenue is discussed. These three areas include the drop-off point from leads to call booked, call booked to the initial evaluation and initial evaluation package percentage. By tracking these areas, businesses can gain valuable insights into their customer experience and predict revenue while making better staffing, marketing, and advertising decisions. Tracking KPI's the right way Practical examples Gaining a competitive advantage Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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? If not, head to the link below and join the community! https://www.facebook.com/groups/ptentrepreneur/

In this podcast episode, Dr. Danny interviews Jeremy DuPont, the owner of Ripple Physical Therapy in Boston. Jeremy shares his journey of becoming a massage therapist and how he decided not to pursue physical therapy school due to the high cost. Instead, he specialized in Active Release Technique and other manual therapy courses to provide movement and manual therapy for people to help them feel better and get out of injuries. Jeremy's different approach to running his practice Leaning into automation and CRMs Delegating copywriting responsibilities to his staff Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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? If not, head to the link below and join the community! https://www.facebook.com/groups/ptentrepreneur/

In this episode of the PT Entrepreneur Podcast, I wanted to revisit an insightful conversation with an experienced entrepreneur who shared with me the reality of the struggles and frustrations that come with starting a business. Building a business is like paddling against waves in the ocean, with a barrier to entry that keeps out those who are not willing to put in the work. Enjoy! Appreciating the lows of business Only you can make yourself quit Stop falling into the trap of comparing yourself to others Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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? If not, head to the link below and join the community! https://www.facebook.com/groups/ptentrepreneur/

In this podcast episode, Dr. Danny shares his four big takeaways from a recent live Mastermind event in San Antonio. Overall, Dr. Danny emphasizes the importance of creating a company culture that employees enjoy and maintaining healthy personal relationships as an entrepreneur. He also encourages listeners to visit physicaltherapybiz.com to learn more about his work and how it could benefit them. The importance of effective leadership Being proactive in maintaining a healthy relationship Delighting customers and providing an intentional experience Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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? If not, head to the link below and join the community! https://www.facebook.com/groups/ptentrepreneur/

When it comes to growing a business, it is important to consider if you have reached saturation in your current market. It is possible that there are many more people out there who could benefit from your services, but they are unaware of your business. To make sure you are reaching those people, marketing and content creation can be helpful. However, it is important to make sure that your existing systems are tight and efficient so that you are not stretched too thin. Why You Need to Do Less: A Reflection on the Movie 'Forgetting Sarah Marshall Exploring Strategies for Growing Your Business: Maximizing Your Existing Market Potential Maximizing Efficiency and Retention Through Centralized Business Practices Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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 Gr

Today, I am discussing the difference between task delegation and micromanagement and how to effectively manage people. In order to scale a service business beyond oneself, one must delegate tasks and hire other service providers. The key to successful delegation is clarity in what one wants from the delegated person. Enjoy! Feedback Sessions: The Importance of Open Communication Managing Employee Weaknesses to Avoid Micromanagement Strategies for Creating an Organized and Productive Workplace Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply 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? If not, head to the link below and join the community! https://www.facebook.com/groups/ptentrepreneur/