The biggest problem in your physio business right now is low profit.
It’s the cashola – and there’s just not enough to go around.
Dosh, coin, dough, dollar-bucks – whatever you want to call it.
We all need it.
We all want it.
Yet we can’t all have it.
A wise man told me that money moves from those who value it least, to those who value it most.
Truer words have never been spoken.
Physiotherapy is an amazing job.
Everyone should strive to become a “gun physio“.
All things being equal – you get more than anyone could ask for in this profession.
You help people for a living.
You are part of an amazing community of like-minded people.
And you have a skill that you can travel the world with; an endless supply of clientele.
But where you come up short, time and time again – is in your bank account.
Everyone thinks physio’s make the moolah.
People who spin “stop/slow” signs actually make more.
The truth is, it’s a median salary – and these days it’s not even that.
Are you truly satisfied with your physio profit?
It seems counter-intuitive how dissatisfied physiotherapists are.
Especially for a profession so respected in the community.
It is surprising when I mention to friends from other professions what our median income is (80K!)
Most people think it looks a lot more like this!
A recent APA survey provided data from physiotherapists looking to leave the profession found a whopping 33% cited salary.
That means 1 in 3 physio’s have opted to leave for greener pastures.
We lose 55-60% of therapists within 5-10 years, that’s a pretty crucial factor.
A further 29% cited work-life balance – which is more a function of what we give vs what we get imho.
The reason I say this is we are a long way from medicine.
In terms of both hours and actual life balance.
But people “give” so much of themselves; it’s no doubt they feel this burden.
It actually needs balance with tangible reward.
There actually is a need for external validation for most people.
I’m talking about something that starts with ‘m’ and rhymes with honey.
The next generation coming through are very focussed on this.
And we need stronger models to allow them to achieve their goals.
The best way to do this is through stronger financial incentives.
Burning out, struggling to breathe
The third factor is burnout.
Burnout is a complex topic and well beyond the scope of this course; it still remains relevant.
I need to acknowledge that not everything can be solved by money alone.
And the other trap is a big one, which I’ve been writing about recently.
No matter how much you pay people.
They will always want MORE.
This is human nature.
This is dopamine at play, our motivational neurochemicals.
Driving us further toward our next stage.
This brings me to the model itself.
We cannot expect to be able to place glass ceilings over earnings.
But these ceilings do exist in almost every practice.
The barrier to them is not the patients.
It’s the therapists; and most often it’s you. The owner.
We don’t charge enough for our services.
We don’t charge enough for our time.
And we do not charge enough for our results.
We can’t have a conversation about pay, without a conversation about fees.
I can’t run a course on paying people better wages, without a roadmap to increasing fees.
I also can’t run a course on wages and fees without talking about…
Sales, marketing and actually creating demand for your services.
A physio business cannot build profit without…
Sales and Marketing.
If that is a deal-breaker, get off the bus now.
If you have an aversion to sales, or promoting what you do.
This course is not for you.
You won’t enjoy it, you will complain to me throughout and you wont’ actually implement anything.
It’s better we just part ways now.
Sales and Marketing make all the difference when it comes time to turn the tap.
These skills have been around since the dawn of time.
When people bartered in the streets, they used sales skills to survive.
The first big mac had to be sold to someone.
You still couldn’t convince me to eat one…
The brand Nike didn’t get to where it is today without Michael Jordan and a hell of a lot of marketing in the 80’s and 90’s.
And so I digress…
I have a confession
The truth is when I set out to build a course I did want to focus on one pillar; pay.
I called it the Art of commission.
And it was awesome.
I spent two entire months on it.
Hours and hours of detail on money, finances and how to get more profitable.
But it didn’t make actual sense.
And it was so sh*t boring that even I got sick of it.
It wasn’t going to work.
You can’t look at these problems through silo’s.
And I want to take you on a journey.
A transformation to a profitable practice.
One where your therapists are well paid, your clients are happy.
And you, the owner, are rewarded with time and opportunity for whatever you want.
Art of commission was incomplete; and it was hard.
Too hard.
So I’ve torn it up.
In classic Pareto style, I’ve cut out 80% of the content.
I’ve cut down the time it takes to get through it, and I’ve left in the best 20%.
It’s the big mac, without the stupid lettuce and the entire top layer.
It’s actually a cheeseburger now – get it down in a gulp and get on with your new life.
Post cheeseburger – the bliss that this is.
Still incomplete, I’ve added the two no brainer components.
The fries and the coke.
The fries is the kick starter for your marketing.
And the coke is the finisher.
Slam it down and we’re done.
Off into a new world of stable profitability.
Off into a new world where you have your time back.
Time to pursue your highest meaning.
To not be stuck in the money-in, money-out dilemma of a barely profitable practice.
This course is simply called PROFITS.
Purpose over profit
The goal of this course is to put you on a path towards your purpose.
There is more to physio than profit.
And there is more to life than physio too.
But without profit in your physio business, you cannot chase true purpose.
It’s a hierarchy, whether you like it or not.
You need oxygen to survive.
And in business, money is that oxygen.
Once there is enough to go around, your entire world changes.
You have time to reflect.
Time to think about ‘where-to’ next.
You get to have long conversations in cafes about your purpose.
This is exactly why I started the Purpose Driven Practices Facebook group by the way.
You see, these ideas come together.
This journey has already started.
And it’s time we looked to hit the accelerator.
Over the course of 8 weeks, I hope to bring you closer towards the precipice.
You can’t expect to add 300K to your top line in 8 weeks.
But we can expect to be able to implement an actual system.
One that builds, like habits compound over time.
One percent a day, over and over and over again.
We gain momentum.
Pushing the rock becomes slightly easier.
This is the exact route I took with my practice.
I took a team of graduates and a barely there revenue of 50K per month pre covid.
To a consistent 100K+ powerhouse clinic.
From only 3 rooms mind you.
And I stopped treating too.
A physio clinic run at 25% profit.
The ridiculousness of which I was still unsatisfied with.
So I sold.
And now I’m here, teaching others.
We often overestimate what we can achieve in a year.
We often underestimate what we can achieve over several years.
Business is the long game.
It’s about making hard decisions and seeing them through.
When you embark on a journey with me, it’s not slapdash.
We play the long game.
We play hard, and we play to win.
