The P.t. Entrepreneur Podcast

Today, Doc Danny delves into the challenges that individuals face when embarking on a career in functional medicine. Drawing from his conversation with a Nurse Practitioner, he explores the fears that arise when starting a practice, including concerns about income stability and the time it takes to replace a full-time income. Doc Danny candidly shares his own personal journey of leaving a secure military career for a different path, highlighting the fear associated with leaving something safe and consistent. Enjoy! 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, Doc Danny and Yves Gege delve into the six essential traits that are crucial for cash practice owners to achieve success in their entrepreneurial journey. They emphasize the significance of having experience as a personal trainer, coach, or in a specific niche, as it establishes credibility within the industry. The duo also stresses the importance of cultivating grit, which encompasses patience, optimism, and persistence in the face of adversity. They highlight the need for risk tolerance, but not being overly risky, in order to make calculated and informed decisions. Being mission-driven is another trait that proves to be instrumental in attracting new clients, retaining them, and gaining valuable referrals. Additionally, they underscore the importance of patience, comfort with sales, and organizational skills for running a prosperous cash practice. Head to the link below to participate in our 5 Day Challenge!   https://www.physicaltherapybiz.com/challenge   www.physicaltherapybiz.com/apply

In this episode, Doc Danny shares a conversation he had with a friend who owns a wine distribution company. They discussed the physical therapy profession and the challenges that come with it, specifically the low compensation compared to other professions. The average physical therapist makes around $80-90,000 but has an average debt of $150,000. Danny explains that starting a cash-based practice is a proven solution to increase earning potential while still being an active clinician. This allows physical therapists to charge more for their services and ultimately make more money. He believes it is an elegant solution that allows individuals to marry their passion for the profession with financial stability.  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 G

In this episode, Doc Danny discusses the current state of cash-based practices in the US in 2023. He shares the trends that he has observed and encourages listeners to check out the results page on physicaltherapybiz.com to understand the value of working with them. Danny is optimistic about the growth of cash-based practices and explains how they are becoming more popular as people recognize the need for an overeducated personal trainer to help quarterback their health and wellness. He discusses how even small towns have seen success with cash practices, with some breaking the seven-figure mark. 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/

Doc Danny has been obsessed with helping people live high-performance, pain-free life since high school and has been in the physical therapy profession for some time. He shares his journey of developing a cash-based practice that eventually grew, leading him to realize the potential of helping more people by sharing what he had learned.  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, Doc Danny answers the frequently asked question of whether to rent or buy a standalone space for a physical therapy practice. He suggests that renting is less risky and provides more flexibility, especially if there is no established business history or good personal credit. Buying a building should be considered only when there is a lot of funding available.  The value of the building is based on the strength and quality of the tenants and leases in the building. Danny advises considering the area and tenant mix before making the decision to buy a building. He concludes by highlighting the importance of thinking about the long term and making a thoughtful decision.  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 l

In this episode, Doc Danny explores the topic of forecasting one's future. Doc Danny suggests talking to people from different worlds to get a better understanding of different career paths. He also advises people to think about their boss, their role, their salary, and their career growth potential. By writing down these factors, individuals can forecast their future and decide if they are happy with the life they see for themselves. Overall, this episode provides valuable insight into the importance of forecasting one's future. It encourages listeners to take charge of their careers and lives, and make informed decisions that will lead to a fulfilling and satisfying future. 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 belo

Doc Danny encourages viewers to watch the accompanying video on the PT Biz YouTube channel and take notes to get the most out of the training. The training covers various stages and elements of business, and he hopes that even if only some of it is applicable to the viewer's current stage, they will find it useful. With his experience and expertise, Doc Danny provides insightful and practical advice on how to take your business to the next level.  "I spent $139,000 working with some of the smartest people on the planet and in this video, I'm going to break down exactly what I learned. This is easily the longest and most valuable video I've put out that isn't in our PT Biz coaching programs. 10 years ago, I didn't even have $1000 to spend on business education and mentorship. If you're in the same place as I was 10 years ago, I hope this gives you an unfair advantage.....if you're willing to implement what I share with you in this video." Head to the link below to participate in our 5 Day Challenge!   htt

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