E412 | 4 Keys To A 5-10K A Month Side Hustle

The infamous side hustle! Performance-based clinicians have been using this for years to dip their toes in the water bc let's be honest most of us are too scared to burn the ships (and rightfully so). We've got families to take care of. Student loans to pay. And we really don't know what we are doing!!!

So...ENTER the side hustle- The low-risk easy way to start getting some proof of concept before diving in. I would say out of the hundreds of successful cash-based practices we work with 90% or more started inside hustle mode.

So the question is how do you make your side hustle spectacular, so not only can you earn some extra revenue but also feel confident enough to take the next step, quit your current job, and go ALL IN!!!

Ready to elevate your practice? Book a call at the link below with one of our expert consultants today and start your journey to delivering unparalleled physical therapy.

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Podcast Transcript

Danny: So there's all kinds of hidden fees within your business, uh, that are just part of doing business. One of those is credit. Processing and for us, we didn't even realize how much we were paying in credit card processing with the first, uh, management software we were using for our practice. And when we switched over to PT everywhere, we just realized we were saving literally hundreds of dollars a month with credit card processing with their partner with Card point versus who we were using with our prior.

Software. This has made a massive difference. It's more than paid for itself. It allows us to decrease our overhead. It allows us to have more cash flow to reinvest in our people, in our technology, in our facility, in marketing and everything that's gonna drive the business. So don't, uh, get abused by credit card processing companies.

Make sure you're paying what you should pay. And if you're looking for a management software, highly recommend PT everywhere directly integrates. Processor makes it very easy and their rates are super, super competitive. So it's saved us a ton of money and it probably will do the same for you if you don't know what you are getting charged.

So head over to PT everywhere. Take a look at what they've got. I think you really like it. So here's the question. How do physical therapists like us who don't wanna see 30 patients a day, who don't wanna work home health and have real student loans create a career and life for ourselves that we've always dreamed about?

This is the question, and this podcast is the answer. My name's Danny Matte, and welcome to the PT Entrepreneur Podcast.

All right. What's going on guys? Doc Danny here, live in the PT Entrepreneur Facebook group. Uh, you listening on the podcast. Thanks for joining us there as well. We're gonna go over a little training today on Keys of Success with starting a side hustle. Now we're gonna do this, we're gonna go over four, uh, key to a successful side hustle, hot side hustle that we see.

And to tee this up, one thing we saw in 2020. Um, was many people were forced into side hustles. Um, many people got furloughed or completely let go, and what we saw was a trend of, um, well, I've got unemployment, um, you know, uh, for X amount of time I'll give it a shot, see what happens. And ironically, we actually saw a lot of those side hustles work out pretty well.

And then those same people, uh, move on to where they had a full-time business on their hands, a full. Cash-based practice. And one thing that we see over and over again is that there's some repeatable processes that people can add in, where these are gonna really, um, you know, it's gonna help them be successful and or if they don't do these, they're gonna tend to struggle, uh, a little bit, right?

So to date, we worked with close to a thousand practices, so this is just based off the straight reps and things that we've seen work. So hopefully this helps you as well. Um, if you have a question and you're on here. Within the, uh, actual Facebook group, just type of question, uh, in the comments, and I'll try to answer it as we go through this.

So let's start with this. Uh, number one, what's the number one most important thing we see with people that have successful side hustle? This might seem very obvious, but number one is actually starting, is it's just getting started. And I would say this is actually the area that for a lot of people, They slow play this for a long time and you know, they'll, they have a moderate amount of discomfort going to their job.

They're not, they don't hate it. They don't love it. They don't really like the people they work with. You know, they're, they, they make decent money. Um, you know, so it's kind of hard to leave. It's like, it's, it's okay. Being average. Being average is awful though. It's just your day being average every day.

There's so much more you could be. There's so much more satisfaction you'd be getting outta that. There's so many more people could, you could honestly be helping. So the number one key to a side hustle is you gotta get started. That's number one. And there's a lot of things that, that lead people to be on the fence about this.

The first thing is the mindset side of things. Oh, what if this doesn't work? I put myself out there. What if it, what if it fails? Well, you know, it might, there's no doubt about that. Like business is. It's not a guarantee. There's no, you know, gimme you're gonna get, and then you could completely bomb.

There's no doubt about that. But one thing I want you to think about as well is, well, what if it works? We, cuz we, we really just focus on the negative all the time and we really think of worst case scenarios. But I also challenge you to think what's the best case scenario. So if you start on a side hustle, um, and you know it goes great, you're gonna number one.

Have, uh, second income stream, you decide you just wanna do that, right? You're gonna have a lot more control over your finances. What if the, your job decides to let you go? If this happened to a lot of people last year, you didn't think you were gonna get a doctorate degree, uh, and then get furloughed, most people, right?

But it happened. It happened to not just physical therapists, but medical doctors, you know, you name it in the medical field, and you know, you'll have much more control over that. The other thing is you're gonna have a spring. To jump into full-time practice, if that's what you decide you want to do, um, on your own.

Or maybe you just wanna bolster your finances and pay off some more debt, uh, and have a side hustle because for, for the vast majority of our profession, what we see is this, this, uh, side job is actually like fairly common, whether that's working pr, rent at a hospital, or picking up an additional shift somewhere, or whatever it is.

The only difference here is you're picking up a shift for yourself. So instead of making, you know, 50 bucks an hour at the hospital, Or seeing a home health patient, you're going to see, you know, you're gonna make $150 if you can bring that person in, which is, which is the key. This happened with a good friend of mine in Columbus, Georgia.

Um, my buddy Nate was down there and he was seeing home health patients who was making about 50 bucks. Per person that he was seeing. And um, he ended up, uh, taking over the practice that I had, um, in Columbus, Georgia when I moved to Atlanta. And he traded out $50 an hour for $150 an hour and was able to totally get rid of his home health position.

So for many of you, you may be already doing some variation of this, uh, but starting your own sign, hustle, getting over the mindset of that is huge. So the, the biggest things that we see are surrounding yourself with at least information that's positive of people that are being successful. Because there's a lot of people that are out there that are gonna tell.

Oh, you can't do this. It's not gonna work. Nobody's gonna pay for it. Um, all kinds of things that they'll point out that frankly they just probably know very little about, or maybe they just didn't make it work themselves because, uh, any number of reasons personally or professionally that just weren't the right fit.

For them. But don't let other people tell you what you should and shouldn't do. You need to surround yourself with people that are successful in the thing that you want to accomplish. Surround yourself with information and people that are living a life that is similar to life that you want to live.

Right? That's actually really, really important because people will come out of the woodworks when you try to actually do something on your own to tell you all the reasons why it won't work, all the reasons why you shouldn't do it, you know, and in, in some cases it's just negative in some. It's, it's people that really do care about you and they're concerned that maybe you're gonna fail and how that's how you're gonna take that.

And I wouldn't even worry about all that. That's a mindset issue for them as well as you. So books are huge. You know, start reading books that are gonna help you, uh, gain confidence in what you're trying to do. Start listening to podcasts like, like this one, or, um, you know, any number of other business related podcasts where you're hearing people that are successful in the field that you're trying.

Uh, grow in. This is a great way to build your confidence and hear that, oh, this, there's other people like me that are making it work. And business mentorship is another big one. So gain the skills and the confidence that you need just to get started. Because for a lot of us, that's what we lack. We lack confidence.

I know for me, when I started my practice, The only reason I had confidence in the fact that I could do it was because I had direct mentorship from somebody that, that I was working for, I was teaching for that had a successful cash-based practice, and I saw that as something that I could replicate. I could do something similar.

Um, and, and was able to, to do so. So, you know, I think it's really important for you to craft the right mindset. So surround yourself with people that are positive that, that they challenge you to maybe think bigger even. Uh, and then podcast books, you know, educate yourself as much as you possibly can, and don't listen to the people that are gonna tell you it's not gonna work.

Uh, I had plenty of people that told me that, and, and frankly, they just were wrong, and they also didn't really know what I was trying to do. It's hard to grasp this sometimes. Um, now the second biggest thing that we see is that people go too broad. They're super broad with what they want to do and who they want to work with, and they're like, I can just help everybody.

I'm a great clinician. I can help everybody. Well, you, you very well might be a great clinician and you can work with a, a broad range of people and that's cool. But what I can tell you is when you're first getting started, it's not the easiest way to build your schedule. You really wanna define a. Figure out who it is that you can really be world class with and build your practice around that niche to begin with.

So I, I'll, I'll show you how we define this and, and what you wanna look at for a niche. So if you look at this, and if you're listening to the podcast, just draw three circles or uh, three circles that are intersecting. One of them, you put the people that you like. One of them, you put people that you can help.

And one of them you put that they have the financial resources or money to be able to afford to. Now your niche lives in the middle there, right? So if you say, for instance, me, whenever I got out of the Army, I like to work with CrossFitters. I was training a lot myself. I could help them. I had a unique understanding of working with CrossFitters.

I'd worked with a few competition teams and I was teaching a lot for CrossFit gyms. I was coaching as well, and they had the money to work with me. They had a disposable income to. A couple hundred ba uh, a couple hundred bucks to go to a gym. You know, 80 bucks versus some knee leaves, $60 for a jump rope, whatever you name it.

Like, there's definitely, uh, a certain barrier to entry to a sport like that. And we see the same thing in the gamut of other, um, o of other niches, right? So if you think of like triathlons, right? So let's say you're a tria leader. You like endurance sports. Cool. Do you like the sport? Awesome. Can you help them?

You have unique experience within it. Great. Do they have the money? You know, afford working with you for sure. Like they'll drop 800 to a thousand dollars on some wheels for their bike. Right? So it's just a matter of whether they see value in what you do. But don't pick a niche that you know you're not gonna be able to support.

Cause if you're like, you know, I like to work with. Underserved youth, like that's probably not gonna support a cash-based practice. You can build a cash-based practice that's profitable and then donate money in time to people like that, if that's what you would like to do. I think that's a, a valid way of going about it, but it's probably unlikely you're gonna build a cash-based practice off of a niche like that.

So go through this exercise and think to yourself, you know, who do I like working with? And don't just pick the people you think you're gonna be able to, um, build a cash-based practice off of, because. You're, you don't wanna trade out one job you don't really like going to, to another one, which is basically what you're doing right now.

Cause you're not actually building a. You're creating a job for yourself, which is, which is fine. Everybody has to start there. Nobody just starts a business where they have all these employees right away. Um, I mean, unless you buy one and you have a massive amount of capital, maybe that's, that's the case.

But with, in these cases, you're, you're building small, they're stepping stone positions, stepping stone jobs, um, you're creating for yourself. So, so you wanna actually work with a community that you really, really like. And it, it, probably the best way to describe it is if you could pick a, a group of people that you would work with for.

You know that you just love being around. You talk about stuff all the time. You're fascinated with the sport. You're fascinated with the niche. Who would it be? Because you can define who you wanna work with just by, by doing that, right. And then trying to be the go-to person for this group in, in, in your area.

And not trying to be the person for everybody because then you just water yourself down and you become, you know, white noise just like everybody else. And you can't do that in a cash-based practice very easily. You can definitely grow and broaden out as you get bigger, but initially you gotta be laser focused on who are you the person for and try to be the go-to person for them via content, local organization involvement, um, all kinds of things.

Local marketing, digital marketing, many different things you need to able to get them in, but you gotta define the niche first. So number three. You gotta start small, right? So, uh, the only mistakes that we see, uh, financially that I've actually seen go in the wrong di go the wrong direction for people within these business models is taking on a massive amount of debt early on without a pre-existing base of customers.

Um, and then them just basically drowning in all the additional. Overhead that they have. So the, the stepping stones that we typically see are, um, you know, you wanna start as as lean as you possibly can. For some people it's a subleasing, a space. So maybe it's out of a gym, maybe it's out of another practitioner's facility.

Um, you know, we've had people start practices in their garage. We've had people start 'em in a hair salon. We've had people start 'em in all kinds of different places. Keep your overhead low, just get started. Right. Uh, the other option is, is even looking at the mobile. So maybe you go to people, you know, initially, I can tell you I think that business model has some flaws at scale, uh, significant flaws at scale.

And then once you get to where you're seeing. More than maybe four people a day. Um, it's probably the max you're gonna be to see unless you're in a really, really densely populated area and you can group people together. And even then you're probably still looking at five, maybe six, but that's a long time.

Most of our mobile people will buffer like an hour between clients, so you have to add that into your equation. But to get started, it's a great way to go cuz it doesn't cost you anything really. You know, it's your time. Some wear and tear in your vehicle, you get to bring some equipment with you. But most of those people will gravitate towards a sublease space or a standalone.

Because they end up getting like, you know, 10 to 15 hours of their week back where they're not in their car, which is a massive number of patients. You can see also, you're just not sitting in your car. There's a, so there's a lot of benefits to moving that direction, but when you first get started to keep that overhead, super, super, super low, right?

So again, sublease space, it could be out of a, your garage. We actually have people that even have multiple practitioners that are working out of their garage currently, uh, that we work with even within our, uh, within our mastermind. Um, and or the mobile route just to keep your overhead really. Low. So start lean, start lean, and then grow into whatever you're gonna grow into.

Because if you can grow your side hustle into, let's call it, you know, three to $5,000 a month, some of the people we see before they jump ship, they'll be five to $10,000 a month in gross revenue with minimal to no, uh, Expenses, very, very low expenses. What they can do is they get a chance to take that cash and build their cash reserves, their war chest, if you were to think of it that way, to then be able to springboard into expanding, leaving their full-time position and not feeling the stress of just financially being in a terrible position.

So we'll see people do this for maybe three a months to a year, sometimes. Depends on the person, depends on their setting, depends on how well they can bring people in and how well they sell, and a number of other factors. But being able to build that financial buffer or paying down some really bad debt that's gonna help you get in a position where then you can take a chance on yourself in an even bigger way.

These are what these are so great for because they allow you to, in, in a somewhat low bear to entry, uh, start a business. We've seen people start these for as low as like 2000. Um, you know, and then be able to springboard that into whatever it is you want it to be long term. Because for you, maybe you want a sports performance facility, right?

Let's say that you want this big sports performance facility, you want turf in there, you want a gym, you know, multiple providers, all that stuff. Um, that's great. And if you can't make it work on a side hustle, you know, uh, it is not likely you're gonna make it work with the big sports performance facility.

So what you learn is you earn the right to be able to move to the next. And you earn the right to move to the next step again, you know, so we see these, these stepping stone positions where most people do really well. They're learning as they're going. They're not putting their family and their, their, uh, you know, themselves in really terrible financial, uh, positions, and they're able to actually grow a very sustainable business model.

Um, you know, a along the way. So again, you could go all in. You either need a partner, you need, you know, some money somehow. Hopefully you're not personally guaranteed to that cause it doesn't work out. You're in you're top spot. Um, and you also need to learn how to like, get people in the door and sell.

Because if you can't do that, I don't care what your facility looks like, nobody's gonna pay to to be there. Nobody's gonna stick around either. So that's number three. Number four is you have to learn. How to market and sell. We call this becoming a rainmaker. We call this, uh, becoming a clinical rainmaker, and we don't learn this in school.

And partially is because, uh, most of your professors don't know anything about this, right? They're educators, they're researchers, some of them own practices, and we, we definitely see, uh, some professors that are great entrepreneurs that are starting to implement some of these things within. Curriculum, but they're also busy running their businesses, right?

So they don't really have the most time to be able to, to be in, in that education world. So what you get is a lot of clinical education to be able to pass a federal exam. We all have to pass it. Whether we're gonna do everything that was on that test or not is debatable. Um, but we pass it either way. We have to pass this federal board.

That's why we go to school. So, you know, if you look at your school and you're like, man, my school didn't really set me up for success. You know, business world, it's not what they're designed for, right? Um, you have to go and you have to learn that stuff on your own. It's very, very, very important. So when we look at the fourth key to really have a successful side hustle, it comes down to your ability to market and to sell.

Now, this is where we look at a couple different areas where you have to get really good. So if you look at this diagram here, so number one, marketing is all about getting. Leads, it's about getting people interested in whatever you have to offer. So that could be in person, that could be relationship marketing, that could be content, that could be digital, uh, paid ads, organic, um, that could be any number of things.

Organic gorilla marketing on social media platforms and groups and whatever. You have to learn the skill of acquiring leads and then taking those leads and turning 'em into. Clients, so it leads into clients

outta sales. But you can have, you can be the greatest salesperson in the world, but if you can't get anybody in your pipeline, it doesn't matter. On the flip side, you could be the greatest marketer in the world and get all these leads, and you suck at clarifying your vision and, and why you work with people and how you help them.

And them understanding what they're getting in return and seeing the value of that. And then you, it's worth, honestly, cause now you've wasted all your time and energy trying to acquire all of these leads and they're not turning into clients and you're wasting your time, money, and, and energy because you don't have a proven sales process to get them to turn to clients.

Now when we look at. This is, this is the linchpin for a lot of people early on as well as this. So turning a lead into a client, um, is a sales process and getting leads is the marketing process. Now, if you, if you can do that, if you can get people to become leads and leads, turn to clients, you have a front end sale.

Now, front end sale is important. It's the, it's the first sale you're gonna make. It's the first time they pull their card out. They give it to you in exchange for whatever solution you're providing for. But people that just stop there. This is where we run into a lot of problems with, um, what we call a e you kill model.

So basically if you just stop here, if you get leads, they turn into a client and then they're gone. That's front end sales. You're missing a massive, massive opportunity to increase lifetime value of your clients. So the difference being if somebody goes from a lead to a client that's a front end sale, let's say they decide.

They're gonna buy a five visit package with you, and let's just, for math purposes, say the average is 200 bucks, right? If the average is $200, you have five visits, it's a thousand dollars for this package. So you just made a thousand dollars from that client that you turn from a lead to a client, right?

Well, if you just stop there, you've made a thousand dollars lifetime value off of that. If you really want to grow the side hustle quickly and grow your practice quickly, you have to be very, very, um, efficient with the people that you're gonna get through the door. Because you don't have big hospital systems, you don't have big orthopedic groups that are just pushing a bunch of people your way, where you're gonna get a bunch of post-op volume or a bunch of work comp patients or Medicare patients or whatever.

We don't really get that, so we have to be very efficient with the people that we. So from there, we have to have a second sale opportunity where it's referral and or continuity or, uh, reoccurring sale where they're coming back in some capacity or they're sending somebody else that we can help. By the way, guys, if you're on and you have a question about side hustles, type it in the, in the comments and I'll try to answer that as we go along.

Um, so if you have one, drop it in there. Now, when we start looking at the second sale, this is a difference between. A practice that maybe they're at a side hustle, they're gonna be somewhere around like two to $3,000 a month and five to 10 on on the side. That's easily gonna be able to springboard into a full-time practice is gonna be able to scale past themselves cuz we see plenty of people will be able to do this.

Plenty of people will be able to do this. Very few people can do this, where they're actually getting them to send more of their friends and family members to come and see you. As well as coming back in to see you on a structured. Or a reoccurring basis, which is going to double your lifetime value. So if we said this first person is a a thousand dollars, they go from a lead to a client.

They buy a package of five visits at $200 each, a thousand dollars. If that's your lifetime value and you stay there, that's what they're worth a thousand. Right? But if those people send one of their friends their your way, who also. Buys a five ISIT package and they decide to renew and buy another five ISIT package, and let's say it just stays there.

All of a sudden, our lifetime value of a client triples because we have to add the thousand dollars of that person sent our way for a referral and the thousand dollars of them buying a second package to work on things proactively with us. Let's just say that's what they're doing it for. Now, there were $3,000 versus $1,000.

This is really important. It's incredibly important for you to understand it's not about how many people you get in, it's about what are those people worth to you once they're in your ecosystem? Would you rather have a thousand people to deal with and each one of them is worth a hundred dollars to you or 10 people to work with, and each one of 'em is worth $10,000?

To which one of those do you think is gonna be easier to manage? Which one of those do you think is gonna be easier for you to. For you to make run profitably at that. You want fewer but higher value customers. That's what we're looking for. So not everybody is gonna be appropriate for you. This is one of the big mistakes that people make early on is they're just like, I'll just work with anybody.

They'll take anybody. Even they know in the, you know, their gut feeling is this person's gonna be a huge pain in my ass and they're gonna be very difficult to work with. But damn it, I like, I need the money. You know? And I've been there, I've taken people like this as well, and it's all, I always. You wanna look for the people that are gonna be the best clients to work with.

They fit your niche, they're perfect for you, and they know you're perfect for them because you're gonna be able to charge them what you're worth, and they're gonna love working you so much. They're gonna send their friends and family to see you, and they're gonna continually come back to work with you because you're so uniquely solving a problem for them, and you've clarified what they're looking for.

So, let's see. Shamus says, we'd love to hear ideas on continuity programs, what other folks are doing to keep people. Active clients. This is a good question. You know, everybody can have different variations of continuity programs. The challenge with the continuity program, just like anything else, is selling.

Um, because you can have all kinds of great continuity programs, but the sales process of continuity program is actually really difficult cuz it has to, it has to be coordinated from the very beginning as well as the messaging on your, your site, uh, your people. If you have anybody else you know, involved in it.

It has to be something that's common language, common, uh, verbiage that they're using from the beginning of the relationship. So the common continuity. You know, offers that we see with people. And it depends also on your practice act, depends on your skillset. Um, so that, that aside, we'll just give you some, some options of what people are doing.

Um, it could be a structured visit once a month. It could be as simple as that. You say, Hey, we charge base once a month. This is what it costs. This is what we do with you. We help X, Y, and Z. And you know, we go from there, from a proactive, uh, from a proactive manner. It could be people that just want to buy another package.

And now we don't necessarily con consider this continuity, but we do recur. Uh, consider this reoccurring revenue, which is fine too, where they're buying another package from you and maybe they share that with their family. We have a lot of people that we work with that do this. They share a, a package with their family.

Uh, their whole family comes in to see us at different times. Kids are in their. Seasons, you know, the, the parents are training for something. Um, so, so we get a lot of that. We get a lot of repeat buyers that are families that are sharing that, you know, within, uh, within their family. Um, the other thing we see is programming, uh, remote programming.

So we have a strength coach that works with us. He provides remote coaching for clients that we've seen that are not necessarily looking to get involved in a gym. They wanna train from home. They want some accountability and some organization. To their actual programming. Um, and, uh, that's worked out really, really well for us.

We have a number of clients that we work with that do, uh, something similar. Maybe the PT wants to program, maybe they want that sort of remote, uh, element of recurring revenue. I think it's great. You're still, you're still trading your time for money in that situation, which, you know, it is what it is.

Might, that might still be a good trade off for you at that point in time. We prefer to have somebody else fulfill on that, um, at this stage, which is why we use a strength. The other thing we have people do that works well is um, either training, small group training or some variation of group. And within their facility, depending on what it looks like, so maybe it's post acl, uh, return to sports, you know, and they're, they've got four people that they lump into there.

Maybe it's, uh, you know, female soccer players. You get four to six of them together. They train together, you know, you can charge a, uh, a lower price point per person, but the total cumulative amount is, um, you know, is, is should a minimum be your hourly rate and or more ideally, uh, it could be just training people in general in a, in a small group as an exit strategy.

If you have the gym. For something like this, and you have the actual like, skill set to do it, or it could be bringing on a, uh, strength coach that you feed people into. Um, there's a number of different things you can do. And again, some of this might even be performance related. Maybe you're a run coach and now you do run coaching for people.

You're a golfer and now you do golf, you know, digital training for people. We have, all of these are things that people in our mastermind group are actively doing within their different niches and plugging them into their practice as a way to increase the lifetime value. The referral side is just being able.

Develop your flow through your business in a way where it's intentional, where you're asking for referrals, where they're prompted to, to send somebody your way and looking for the right things in your ecosystem. Like that, that, and it's, it's challenging because it, you really have to be intentional about how you're developing these relationships to get the most out of that.

But that's massive because each of those people that send 'em to your way are gonna be the easiest people to convert, the most bought in, uh, versus a digital ad or something like that. So those of you that are running digital ads, I think it's a great way to. We do as well. But anybody that comes off of Google, Facebook, whatever, they're never gonna be as easy to work with.

At least price sensitive, the best quality clients as somebody that then gets sent your way. But you also wanna have some element of. Uh, predictability with this and not just like, hope that somebody sends somebody your way, because it's not a system that's just like, you're just hoping it's gonna happen, and we don't want that.

We want as much predictability within the, the systems of a business as possible. So we can predict hiring, so we can predict whether they're moving to a bigger space so we can predict cashflow. All these things in the backend that are gonna actually run the business. We want as much predictability in that as we possibly can.

So hopefully, you know, Shamus that gives you some. From a continuity standpoint, um, those are huge. They make a big, uh, they make a big change on the back end of your business and increase lifetime value. So, um, that's it guys. So number one, you gotta start Number two, you gotta pick, pick a niche. So do they, do you like working with 'em?

Can you help 'em? Do they have the money to support working with you? That's your niche. Double down on the niche. Don't try to go broad. You end up being the wrong person for everybody versus the exact right person for the person that you know fits your niche so well. It helps you narrow your marketing down, helps you narrow your messaging down.

It's, it's one of the biggest things that people miss from there. Start small, start lean, sublease of space. Start mobile transition to a subby space After that, um, start in your garage. We have plenty of people that have, that have done that successfully as well. And then you can scale to a standalone space after that if you choose to.

Uh, but don't go all in on a giant facility to begin with. It's the only time we've seen these practices actually fail and people go through legitimate financial issues and bankruptcies. This isn't, this isn't Monopoly guys. This is, this is real money. Okay. There's real consequences, especially if you sign personal guarantees on loans that you're taking out for big loans for something that you don't even know if the model is proven yet, right?

So if you don't have a a, a base of people that you know are gonna work with you and help offset that facility, don't do it. Like start in a smaller manner. Build your skillset along with your financial capital, and then you can scale into something, uh, something bigger. And then the last thing is understand how to become a rainmaker.

You have to learn how to sell. You have to learn how to market. This skill alone is where we see people that either they get stuck and they get frustrated or they scale quickly. To where they're five, $10,000 a month in their side hustle and boom, all of a sudden they're leaving their full-time job and they're off the races to 20, 30,000, you know, gross revenue a month within, I mean, we'll see it happen within a year, uh, sometimes longer depending on, uh, the person and, and, and their ability to hire.

That's probably the biggest thing, uh, to be able to get past yourself. And these are all gross revenue numbers. By the way. It's much easier for us to talk about this and track it, but these margins, if you're just doing a side hustle on your own, they should be 85% of every dollar you make you. Be able to pay yourself or reinvest in the business.

They're very profitable. They're not, you know, it's not 10 cents on the dollar. Like some of the businesses that are out have to have massive scale, right? So we started looking at gross revenue versus net. Now this side hustle, there's not, it's not a real business. So let's keep that in mind. You're doing all the work.

It's a lifestyle business, which is fine to start with that, or maybe that's all you want, and that's fine too, but understand, you're still trading your time for money. So, but if you make, let's call it $200,000 in a. That's $170,000 of pre-tax income or pre-tax money. You can either take all of it if you want, you can reinvest in the business, which I would actually recommend doing that, uh, overtaking all the money yourself because you're just gonna pay a bunch of taxes on it.

Uh, maybe you need it, but if you can reinvest in the business, snowball it, grow, and be able to actually build a bigger facility with more people involved, and then start to generate some legitimate passive revenue, true passive revenue that is exclusive of your effort and your time. That's where we, we recommend most people will go.

So the margins are, are high on these. Um, so if you can learn how to sell and you can learn how to market, that is the, that is the foundation, the base for everything on top of whatever you're gonna do within the business. So, uh, if you guys have any, uh, you know, any concerns about that, if you want to help with this, if you've been struggling with this for a while and you, you don't have this piece figured.

Type rainmaker down in the bottom or side hustle. Either one of those. We'll have one of our, uh, staff members reach out to you and, and just shoot you a message and see if we can help you out, because if you've already started, if you got your niche dialed in, you got your facility, everything, you're started lean and you're missing this component.

This is something that we help people solve. All the time. So guys, thanks so much for, uh, for watching today. Um, we'll check out the comments as, uh, as we go. Thanks so much for listening to this on the podcast as well. Uh, and as always, guys, we will catch you next time.

Hey, real quick before you go, I just wanna say thank you so much for listening to this podcast, and I would love it if you got involved in the conversation. So this is a one way channel. I'd love to hear back from you. I'd love to get you into the group that we have formed on Facebook. Our PT Entrepreneurs Facebook group has about 4,000 clinicians in there that are literally changing the face.

Profession. I'd love for you to join the conversation, get connected with other clinicians all over the country. I do live trainings in there with Yves Gege every single week, and we share resources that we don't share anywhere else outside of that group. So if you're serious about being a PT entrepreneur, a clinical rainmaker, head to that group.

Get signed up. Go to facebook.com/groups/ptentrepreneur, or go to Facebook and just search for PT Entrepreneur. And we're gonna be the only group that pops up under that name.