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Business coach Cody Hill wanted to create a different kind of business podcast. So Sara Ellis joins in to discuss her mobile physical therapy business and together they explore three strategies that could have a massive impact on her revenue and profit.
Gain insight from real business owners and entrepreneurs as they face their biggest challenges as they grow. Host and business coach Cody Hill works with each guest in real time to explore strategies that help them achieve more leads, more customers and ultimately infinite profit.
[00:00:00]
Cody Hill: What is up everybody? Today on Infinite Profit I'm excited to have Sarah Ellis, owner of I C T Physical Therapy, a mobile physical therapy practice. Sarah has her roots planted in Wichita. She attended Kansas State University in Manhattan, Kansas, where she obtained her bachelor's degree. Then Sarah headed back home to attend Wichita State University where she received her doctorate in physical therapy.
Sarah's been in Wichita ever since and absolutely loves meeting with and serving the people of Wichita and its surrounding areas. Sarah, welcome to Infinite Profit.
Sara Ellis: Thank you, Cody. Thanks for having me. I'm [00:01:00] excited.
Cody Hill: of course. I'm excited too. I'm really excited to learn more about mobile physical therapy, and so I believe it is impossible to get the full picture of a business without also learning about the owner's motivation, dreams, and challenges.
So we're gonna dive right on into a section that I like to call. It's all about you, and I'd like to ask you a few questions if that's all right.
Sara Ellis: Sure.
Cody Hill: So when did you start your business and why?
Sara Ellis: October, 2021 was when I officially launched it. Definitely, it took a few months leading up to that October point of being ready to, for ready to go. But I, yeah, launched it in October and I think was the other question, why, why did I
Cody Hill: Yeah. Why did you do it?
Sara Ellis: Yeah, that's a good. Well, I had spent some years in a clinic working in physical therapy and then that time kind of ended and then I spent [00:02:00] some more time kind of doing some fill-in work at other clinics. And I loved being a physical therapist, but I also loved creating my own schedule. When I was a fill-in, I kind of could say, yes, I can work today, or No, I can't.
And I realized that, wow, I love this better work life balance. I love having more time for the things that I like because essentially it makes me a better therapist when I am on the clock. And I realized I wanna do something that is the best of both worlds. I still wanna be a physical therapist, but I also wanna create my own schedule.
And it seemed like the best way to do that was to be my own boss,
Cody Hill: Very cool. I, I love that. So maybe what is going to school for and getting a doctorate as a physical therapist, what does that entail?
Sara Ellis: A lot of work and a lot of [00:03:00] coffee , but unfortunately I'm not a coffee drinker, so that didn't even help me. Yeah, so you have to have your bachelor's degree to get into physical therapy school. So that's why I went to K State first, did four years, ha got my bachelor's degree in biology. And then physical therapy school is another three years after your bachelor degree because it's a doctorate program.
And the reason it's called a doctorate program is because we actually get our clinical doctorate. So we spend all of our third year, almost all of our third year out in the clinic working with physical therapists and having our own patients and. It's a lot of work, it's a lot of hours. And the people that are going through it right now probably can't see the light at the end of the tunnel, but it's definitely worth it and I'm glad I did it, but I'm also glad I'm not in it right now.
Cody Hill: Absolutely. So would you mind, we're all familiar with the maybe standard model [00:04:00] of going and seeing a physical therapist where you go to their you know, brick and mortar location. What is the difference between what you offer as a mobile therapist and the more traditional model?
Sara Ellis: Yeah, so I think most people are, like you're saying, familiar with the, they go to a clinic, they see a therapist for maybe 45 minutes. There's other people in the gym. What I do is. because it's purely mobile, is I go into people's homes and I take in the necessary equipment that I would need to help that person and just work with what they have basically.
Some people might be familiar with the term home health and it's similar to home health in that yes, I'm going to someone's home. But other than that, it's completely different. As far as people in home health have to be considered home bound, like they're not allowed to [00:05:00] leave their house, they're usually very low functioning.
Cuz a lot of times they just got outta the hospital. But what I do is I go in to their home because it's more convenient for them. Like how annoying is it to go drive 20 minutes wait in a waiting room for someone to come get you, and then that kind of thing. Or some people just don't have rides. And so that's where I can go in and go to their house.
So yeah, and I've found out that through my experience of working in the clinic, a lot of people, to get better, they don't need a lot of fancy equipment. The things that I found that make them better are one, what, what am I doing hands on with them which I can do in their home? And two, what are they doing when I'm not seeing them, like their homework, which they need to be doing in their home.
So both of those things lined up with, I can just go to their house and do a lot of this. Now, that model isn't [00:06:00] necessarily the right model for everyone. There are still certain situations where I would say, you need to go to a clinic, you know, with this specific machinery maybe. But for a lot of people, for what I see, they don't need that stuff.
So I just go to their house and meet them where they're at, I guess.
Cody Hill: Very cool. I love that. So where do you see your business in the next five years?
Sara Ellis: Yeah, that's a good question. It's a good question because I kind of don't know, but I do know that it will probably be one of two options. One option where I see myself in five years is pretty much exactly where I'm at of keeping it just me me being the only therapist and doing all the stuff because I've toyed with the idea of, well, if I add more people, isn't that gonna make my life a little bit harder?
And didn't I [00:07:00] start this for a better work life balance? That kind of thing. So one avenue I do see is just keeping it just me, but probably being more full, like having a very full schedule and kind of being there, being a waiting list type of thing. . Yeah. And then the other avenue I could see is hiring some people finding a few physical therapists that want to team up with me and being their boss, which sounds so weird,
But yeah, so if that were the case, I would fill up their schedules and then my schedule would kind of be the buffer of if they get twofold and I'll take on some of their patients. And then if they start if they start having a lower schedule, then I'll move people over to them type of thing. So those are the two avenues I foresee in the future.
Cody Hill: Well, it sounds like you've already thought through positioning yourself and some strategies with both of those options, and so I, [00:08:00] I love that. One thing that I've noticed from the beginning of our conversations about your business is that you really, you're really thoughtful and you. How do I put it?
You, you really are reflective on, on what you've done, like how you've gotten to this point from your finances to why you're doing what you're doing to what could be done in the future, right? And, and so I just threw out a simple question of where, where would you like to be in five years? And you said, Hey, there's these two, you know, a watershed point at some point where I'm gonna need to decide, do I want to stay as like a solo project or would I like to continue to scaling, grow this company?
And I think what you'll see today is we can position you with a couple different business strategies in mind. To be ready to continue as a solo owner and operator, or be positioned to be able to scale and not have it add as much time into your schedule or eat up. Some of that flexibility that you love about being your own
Sara Ellis: [00:09:00] Mm-hmm.
Cody Hill: And so I have one more question for you before we dive into our infinite challenge here together, but what are the three up to three bi of your biggest problems that you currently face in your business?
Sara Ellis: Yeah. I would say the biggest problem I face, well, really I think most of the problems kind of build off of this main problem, which is having to navigate the slow times and the really busy times. Like it's been an adjustment to figure out how to, what do I do when I don't really have many patients on my schedule?
Because the whole point of physical therapy is that I get them better, so they don't need me anymore. Like that's my goal and hopefully that's , that's everybody's goal with physical therapy, so having to navigate. Okay, I, I was really full, but now all these people kind of graduated and I'm ready for more people [00:10:00] and you know, just this constant up and down.
And that can kind of be unnerving as far as financially you're like, oh no, I gotta, you know, pay the bills and stuff. So that's the main one. But then I feel like my other problems kind of relate to that. So also what I've found is that when I'm in those slow times, I've had a challenge of marketing, like getting the word out about my business because I'm worried that if I get the word out too much, I will.
kind of get too many referrals and I'll have to turn people away. And I don't, you know, turning people away is bad for business in general, right? And if you turn someone away, they're never gonna wanna come back, or, or that doctor is gonna be like, well, don't, don't send someone to Sarah. She can't take them, or that kind of thing.
So it's a, you know, my other challenge is a balance of when I market, how do I do [00:11:00] that so I don't get overloaded? Because like I said, I'm not sure if I want to split yet and hire more people. And I feel like if I really went out and did a lot of marketing, I would be forced to do that when maybe I'm not ready to do that yet.
And then my last challenge is kind of relates to everything, which is how do I get the word out effectively? Because this model of physical therapy is kind of new and is kind of different. And even the people that I've seen, they, after the first visit, they're kind of like, oh, you know, they get it.
But even going into it, they're very wary cuz they're like, this sounds really weird, or don't I need a lot of equipment? And I think that even especially doctors or other people hearing about it, they just probably don't understand and they don't think that it would be an effective or a good service.
And so, how to get the [00:12:00] word out effectively and kind of get my point across without being too effective, which sounds bad. I feel like people, people would be like, why would you say that? Don't you want like, but I'm kind of like, no, I need to, I need to grow at a slow pace, I guess. I don't know.
Cody Hill: No, that's
Sara Ellis: are, yeah, those are my, I think my challenges right now, my biggest challenges.
Cody Hill: Yeah, thanks for sharing that. And I think those are very tangible challenges, right? I'm not surprised, Sarah, that you just provided three well thought out challenges that are all connected, right? And of course it's connected cuz it's your business. So each challenge, you know, no matter what the business is, whatever challenges they face, it's all connected because there's that thread of, hey, Sarah Ellis is the one running the show and is trying to figure out how to manage the ups and downs and lead generation and you know, marketing materials that really [00:13:00] I think what I'm hearing you say is, is niche down on maybe things that you specialize in to ensure that you're spending your time on, on the stuff that you specialize in or enjoy or could really own right instead of a, a big blanket net where potentially lots of leads are coming through.
And so We can address those challenges together, and we're gonna address them with the three strategies that I have for us lined up today. And so, not only do I believe that we can increase your profits, I'm confident that we can also address that management of your leads and what to do with them at the same time.
And so prior to this interview, I've said a couple times, you submitted some ballpark financials so that we would have a starting place for the infinite challenge here today. This is. Your current revenue which you provided beforehand and your current profits as well. And so the first strategy that I would like to talk with you about and like I'd like to dive into [00:14:00] together something called a market dominating position or an M D P. Are you familiar with that? Have you heard of this term?
Sara Ellis: No, I'm not familiar with that.
Cody Hill: Okay. So a market dominating position is a lot like a unique selling proposition or your positioning within your market. And so you might be unique, you might be different, but it won't matter to your prospects unless you address a hot button issue for them. And so this is a distinctive advantage targeting the hot button issues within your market.
And so this is the foundational element to marketing. This is the key to ensuring that the people that you would like to have, I almost said walk through your door, but the people whose door you would like to walk through at some point are the exact people who are responding to the marketing materials that you put together.
And you actually have a lot of power and a lot of ability. Frame who your clientele is and whether or [00:15:00] not they respond to you. And so a powerful market dominating position has been known to increase a business's revenue as much as 50 to 75%. For example there could be a real estate agent who guarantees to sell the your house within 29 days, or they sell it for free, right?
That's something that's unique. You perk your ears and, you know, maybe the last year or two that's not as impressive. Hey, I can sell your house in 29 days or less. But it's something that's unique, right? It's not just, Hey, I, I, I sell homes. Let me know if you ever wanna sell it. Right? That's, you go, okay, well there, there are dime a dozen out there, right?
I think you're sitting in a unique position where the title of what you do is already unique, right? It's, it already portrays something different. And so, I have some questions that I would like to ask you and like I said, I'll be looking over here at this screen so it's not, cuz I can't hear anything.
What benefits do you offer to your target market that separates you from all of your competitors?[00:16:00]
Sara Ellis: Yeah, I mean, I think the main benefit is that I come to them, I'm mobile I mean, I don't honestly have many competitors that are mobile, so I'm, I guess I'm comparing myself to non-mobile physical therapy. So yeah, I feel like the main thing is that I save them time. I save them money, gas, money and just being in that system, I know that I also give them more one-on-one time.
So I'm giving them a longer therapy session and, the reliability of, I will see Sarah every time, rather than when you go to a clinic, sometimes you don't know who you're gonna see that day. And that can be frustrating and that can honestly impact how fast someone gets better. So those are the things that I think set me apart.
Cody Hill: I think those are great. And I think you hit the nail right on the head there. So are those [00:17:00] benefits? This, you know, mobility? I, I come to you, I'm in my mobility, I come and I help you become more mobile. Right? But you come to them, you save them time, you save them commuting costs, that's time and money, right?
And one-on-one, a lot more one-on-one attention. And you're guaranteeing, Hey, you're gonna get interaction with me every time. So it's not just me looking at a report saying, all right, this is what you need to do, or This is what you've done, or this is what the last therapist said, but it's you showing up, asking.
you know, catching up on the interpersonal connections you probably made over time and continuing to build that rapport. So are those buttons based on the hot buttons of your prospects? Right. They have a problem that they don't want. And then there's results that they're looking for, but they don't currently have.
Sara Ellis: Besides the other fact of why anybody would go to physical therapy y you know, like I do want to also seek out people that are, Hey, I'm having this pain that no one else has [00:18:00] been able to fix. And I'm like, Hey, gimme a shot at it,
But I would say, yeah, those other things are the hot buttons.
Is that what you called it?
Cody Hill: Nailed it. Yeah, that's what I call it. . So, yes. And then in addition, you're open to I like what you just said, the challenges of challenges of tried something and it didn't work, didn't or hasn't worked.
Sara Ellis: Yeah. I've actually seen several of those people recently. know, I like the challenge and hey, sometimes you just need to switch up what you're doing.
Cody Hill: Yeah, that's awesome. I love that. So if you could create an MDP or a market dominating position that addresses both the problems of your clients. Their, you know, maybe inability to leave the home or unable to leave the home, kind of like you said as well as their need for physical therapy [00:19:00] and that the results that you not only address their problems, but it pro, you know, you provide results by helping them become mobile or recover or get back to where they were before.
But what percentage do you think a clear positioning could influence your current revenue or profits?
Sara Ellis: That's a good question. By what percentage could it increase? I think.
Cody Hill: Mm-hmm.
Sara Ellis: I think that, It could increase at least, I would say 40%.
Cody Hill: I'd agree with that. I, I think really, really clear. Positioning ensures that the leads that are reaching out to you are super motivated and, and ready to work and are align with your business strategy and what you would like to do and what you offer. For the sake of being super conservative, cuz I never, ever wanna over-promise and [00:20:00] then underdeliver I'd like to keep it at 10% just for this exercise because what we're gonna see is as we go through each strategy there's a compounding effect of percentage increases across the board with these strategies.
And I don't want us to be like, oh, those numbers sound astronomical. I think we could definitely create something that helps clearly communicate everything that you've just expressed in the last, you know, 10 minutes as we've been drawing this out in a real clear, concise manner.
And somebody goes, that's what I need. Right? So I'm gonna do 10% just to keep us conservative.
Sara Ellis: That sounds great.
Cody Hill: if I were to walk through your business, and it's funny cuz you don't have any employees, but if I were to walk through your business or speak with people who have worked with you previously and I said, Hey, what, what is, you know, what is I c t Physical therapies market, physical therapy is market dominating position.
I may be worded in a different way. What does Sarah do that's different than any other physical therapy [00:21:00] processes or, or people that you work with? Would I get the same answer as what you've just expressed for this market dominating position?
Sara Ellis: I think you actually would. I think you would. Yeah. If you talked with, if you talked with the people that I've seen, they just, because they have told me those things to me, like at the end of our time together they've expressed those things and then they've said, you know, I'm coming, or, well, I'm not coming back to you, but you'll come back to me right next time that I need you.
And I'll be like, yeah, sure.
Cody Hill: I love that, that that creates not just that one time prospect becoming a client in a of yours, but it's a, it, it's a, you know, rotating door. If they were to run into something else or needed help with even some preventative stuff, you're, you're immediately right. Oh, Sarah, come to me. Right? I can, she, she knows my story.
She, she ha we have the shared history. I love, I love that. And so do you think if you could articulate your [00:22:00] unique benefit in a single sentence, and have you, yourself, your marketing materials and prior clients be able to speak that and share that clearly. Do you think that would increase growth within your business?
And if so, by what percent do you think it could?
Sara Ellis: Yes, I definitely think that could, and I do like how you said one sentence, because sometimes I think that's all people can kind of focus on. So I like, yeah, clear, concise, one sentence. And I do like the idea. having some of my past, past patients do that. What percent? I don't know. Cody , I'm gonna, I'm gonna go with at least 10%
Cody Hill: Hey, I like that.
Sara Ellis: like what we said earlier, but no, I do think that, that that is how, because so far I've seen the growth that I have had in my business has been almost all word of mouth. And so it's one of the people that I've seen has [00:23:00] told their mom, their neighbor, their friend, you know, so it, I think that is an, a very effective way of how growth has happened and how it will happen is by that person saying, this is what she does type of thing.
Cody Hill: Yeah, I agree. And I think if you have a strong, so you have your market dominating position, right? And then you have a market dominating position statement, right? So your positioning is really your whole business, right? What you do is unique, but being able to clearly communicate it in one sentence, it's almost like an elevator pitch.
And if you're saying it to your clients, your materials say it, your website has it clearly stated, your, you know, social media presence has that woven into the fabric of what it is. Then what you do is you find out, oh, my clients not only are talking about what I do, but they're using the exact statement.
that I've written, that that positions me that creates that moat between me and the [00:24:00] rest of my competitors, if you will. And so then you have almost like walking advertisements that are clearly communicating exactly what you would communicate if you were the one standing in the room sharing it.
And so and potentially with just as much pa passion if they're prior clients who have, you know, are jumping and skipping about now as a result. And so Sarah, just with one strategy that we looked at here together, and I forced your hand to be really conservative we've been able to increase your total profit by 20%.
And so again, I'll be able to send this to you after the fact and, and you'll see it a little more clearly. So we're taking your current revenue. The expected increase in revenue is 10 K just by those two. . Well, I guess that's one strategy with those two impact areas which now has a new annual gross revenue projection of 60 K.
And because you have such low overhead, not just cuz you're mobile but because your cost of goods sold, there's not really an increase or an uptake in those [00:25:00] costs. A significant portion of that is going directly into your pocket. And so the new annual profit anticipation you can anticipate with this strategy implemented is just under 50 k.
And so that's awesome. What could another 10 K do for you, Sarah, this year?
Sara Ellis: Well, for most of the year, I have been doing another side job while I've been building up this business, so that would allow me to stop that side job and focus completely on this one.
Cody Hill: And I should've, I should've asked that earlier if, whether or not this was your full-time gig or if you have some other things that you're doing. And so would you say you would desire to have this be your full-time
Sara Ellis: Yes, a hundred percent. That's definitely my goal.
Cody Hill: Okay. Awesome. Great.
Sara Ellis: Sorry
Cody Hill: you're great. So my next strategy that I'd like to look at together is really simple.
It's trust, expertise, and education. It's right in [00:26:00] line with a foundation strategy that we just looked at, a market dominating position. So you have your MDP that we've talked about incorporating and implementing that says, Hey, here's how I'm different. And then with that MDP and your education and the things that you care about and your specialty , can build trust, you can show your expertise and you can educate potential clients.
And so we now understand that people want to do business with experts, right? Not those who are just the same as everybody else, right? I don't want to go get my tooth pulled by somebody who has no idea what they're doing. It might make for great content and a funny story to tell, tell later, listen, I got a tattoo from somebody who had no idea what they were doing.
And you could tell compared to my other tattoos. So expert positioning leads to trust, and trust leads to increased sales. Here's an example. If a business coach comes to you and says, Hey, sure, I can help you grow your business. Trust me, are you more apt to believe them? Or would you rather place your trust in a coach that [00:27:00] would take the time to ask you a series of penetrating questions that cause you to think about the status of your business because they're an expert, right?
Sara Ellis: Yeah.
Cody Hill: You would want, you would wanna work with somebody who's gonna ask the questions beyond the questions, who's gonna draw out your expertise and your own knowledge, right? To help better build a business that, of your dreams that you'd like in the future.
Sara Ellis: Yeah,
Cody Hill: And so it's the same in your business, right?
You build trust by being the educator for your market and positioning yourself as an expert. And so I have some questions just to ask you. Does your market trust you?
Sara Ellis: Does my market trust me?
Cody Hill: So in the physical therapists marketplace here in Wichita, Kansas and the surrounding areas, does, does the marketplace trust you? It's not a trick question. Whatever you
Sara Ellis: I know. I think, I mean, it's [00:28:00] a tricky question. So I would say probably. No, because they're skeptical. Mm-hmm. . But once I see people, then yes, of course they do. But it's kind of like making that jump over that this is so, this is different from the normal. And so I think that they don't really trust that this could help them or that you could see results with this, to be honest.
Cody Hill: Yeah, that's great. I think anytime something new or different comes about, there's a building of trust and an education process that your biggest way to educate is to actually have a client. Walk through with you in their own house, what you would do, right?
But there's other creative ways that you can position yourself prior to that, right? So that there is this trust within the marketplace. There is this trust within wherever you're getting your leads from, if it's word of mouth or from, you know, doctors that you have connections [00:29:00] with or whatever it is.
And so do you have a supply of customer testimonials, success stories or endorsements that are very measurable?
Sara Ellis: I do have some testimonials. Measurable I What do you mean by that?
Cody Hill: So are, are, are you capturing quantifiable, not just the qualitative side of stuff? Are you capturing quantifiable data in those follow ups? And so is it, are you. if their testimonials, is it a video or is it somebody wrote something out? And then do you have prompts that ask for a clear explanation of what they experienced, of what they, what was treated, of what it was like before they met with Sarah versus after res.
Right. So that you have this, if you'll, if an arsenal, if you will, of, of you know, testimonials that say, [00:30:00] Hey, prior to working with I c t physical therapy, here's my ailment, here's what happened. It took this many weeks, and now I'm skipping about in a photo or video of them clicking their heels together.
Right? That's what I mean by is it measurable? Right? I get the qualitative side, like, I love Sarah. She's so helpful. I, I, I feel great now, but that's good. That's, that's sort of like the, I should hope so side of things, right? I saw a physical therapist and now I feel better. Well, I should hope so. Right? But I think it's, it's the way that you're doing it.
And it's the measurables that you're able to provide that I think also would help position you in building that trust and the expertise. So when you're capturing those testimonials or those reviews, do you have something in place that's helping get those kinds of answers?
Sara Ellis: I see what you're saying. No, that's a good point. I should implement that when it just so happens that the people that have left reviews have left those [00:31:00] details. I didn't ask them to do that. I would say like most of the people that have left reviews have been pretty detailed like that. But that does make sense that I would, I should develop something to kind of guide them in their review.
Cuz you're right, you, you know it. I do appreciate the people that are like, oh, I love Sarah, she's great, but that didn't really help my back pain. Right. so,
Cody Hill: Yeah. It's, it's not that Sarah was so nice and all of a sudden your back, your back feels better. No, she
Sara Ellis: how I treat people. Cody, I, I'm kidding.
Cody Hill: that, that is a part of it. But believe me, I understand the, you know, bedside manner, the, the healthy, that's a huge part of it. If you don't want somebody grumpy, all right, I'll do this.
Sara Ellis: No, I'm kidding.
Cody Hill: and so do you have a system, right? So we said, Hey, do you have a supply of customer testimonials? You said, yeah, you're gathering them. And you may have already answered this, but we're just gonna read through it cuz the system asked me to. But do you have a system in place for soliciting and [00:32:00] capturing testimonials or success stories on an ongoing basis?
Sara Ellis: No. Nope. The, the way that I've gotten the testimonials I've had is just I reach out to the person that has finished therapy and I ask them, could you give me a review? But that's, it's not like a regular, predictable system. It's just. When I remember, I guess
Cody Hill: sure. So you're personally taking your time.
Sara Ellis: Yeah.
Cody Hill: Taking time to follow up and get a.
Sara Ellis: Mm-hmm.
Cody Hill: Great. Awesome. What would be the impact if you created and followed a system to systematically capture and use testimonials or success stories or endorsements to build trust within your market? So this isn't the, we're not at a percentage question yet, but what, what do you think?
There's a few of those in here, but what do you think would be the impact if you had a system, [00:33:00] it could be automated, it could be something that you personally spend time on, but you know, hey, every client when they're at, you know, the, the mountain top of everything feels great and still in that moment.
What do you think would be the impact if you're able to capture testimonies in that moment?
Sara Ellis: Yeah, I do think that would be very important because like I said, I can attribute a lot of the growth that I have had this year to people telling other people. And it would be great to have a way to capture that and to, I don't know, use those testimonials more. So yeah, that'd be awesome.
Cody Hill: absolutely. To what extent have you positioned yourself as the expert? For example, have you written a book partner with respected figures around workshops, either online or offline?
Sara Ellis: I've actually done a little bit of that. I've I pretty much developed this conference this past [00:34:00] year cuz one of the. fields that I do treat are little babies. And so I developed this conference for moms where a bunch of different medical professionals spoke, and it kind of gave women moms and the community resources on who to go to if they had this issue.
And so I did get my name out there for that. I would say in the other fields that I treat, I haven't really promoted myself as the expert, I guess.
Cody Hill: But that's one, that's one niche where you're already building that trust beyond I don't wanna say just treating, cuz that's literally what you're doing. I don't mean it by just treating, but beyond your actual client interactions. You've, you've already started to develop an expert or presenting yourself as an expert in an area and willing to collaborate and bring people together.
I love that. That's awesome. That's great. On a scale of one to 10, with 10 being the best, how good of a job do you do at communicating your expertise so [00:35:00] that your company is more highly valued by, this is a safe space.
Sara Ellis: I would say seven.
Cody Hill: seven.
Sara Ellis: feel like I'm okay at it, but not great at it.
Cody Hill: That's that's great. I I think I've learned more about mobile physical therapy and not just this time, but in the emails and, and reading through your materials online than I would've ever guessed. So great. Seven. So now on to the percentage question, what impact do you think we should expect in this area if you were able to increase your trust, expertise and education?
Presence in Wichita.
Sara Ellis: are we talking revenue again or percentage?
Cody Hill: Yeah. Percentage of.
Sara Ellis: I mean, that's where I kind of originally gave the 40% [00:36:00] thing because I'm kind of thinking in my mind, how many more people could I accept at this point or that kind of thing, or looking at my past year. And I, I really do think that because that's what has helped me grow, and if I really get that piece down, that could make the difference of like up to 40% of my whole year as far as like filling that up more.
And yeah, so somewhere between 10 and 40% I'm just gonna average my past numbers
Cody Hill: that's great. How about we slap a solid 20 in there? Would you feel comfortable with that? Awesome. Great. Me too. And I agree with you. I think, you know, off the record, software aside, I think 40% in a market dominating position with a clear statement and then developing the trust and expertise and education side of what you do, I think easily both of [00:37:00] those combined could be at least 40.
And so I, I agree with your assessment there and, and the power of those strategies being implemented into your business. Well, hey, listen, we are two strategies in, again, I know it's a little small, but the total profit impact here we see is a 43% growth. And so it's taken your numbers to an expected increase in revenue of just under 21 or 22.
Thousand dollars. And so between the market dominating position with a 20% increase, the trust expertise education with a 20% increase, we're looking at a new annual profit of 58 k, just over 58 K. And again, that's because of your overheads and your cost against being so low that's gone directly into Sarah's pocket.
That's pretty awesome. We have one more strategy, and I think that this strategy [00:38:00] is something that can help with those challenge and those pain points that you mentioned of how do you deal with too high of an influx of potential clients. How do I, how do I, you know, continue to keep my business in and my brand in, you know, the.
Good positioning with people who are even sending me leads. I think the way that you do that is by increasing your alliances in joint ventures. And so instead of competing against people I think there's plenty of room in what you're doing from what you've expressed, maybe even plenty of interest to be able to have another mobile PT that you trust and that you could build rapport with.
Be a place that you guys could share you know, resources or, or share clients, right? Or maybe there's someone else who isn't mobile, but they specialize in something that you don't. And so then instead of saying, Hey, well I don't treat [00:39:00] this, or I, you know, whatever it is, whatever your preference is, you could set up a joint venture with somebody else that, where there's an agreement, Hey, when I get.
Prospects, especially when I'm full. But when I get prospects that need this, I, I'd like to send them to you. And so you could work out an arrangement there that, that helps increase their bottom line while also allowing you to say, Hey, I, I don't, but here, let me say, or I'm not able to at this time, or whatever it is.
A business can form alliances or joint ventures with a number of different entities besides the non-competing businesses customer. Vendors and sales professionals could be harnessed in order to make your business more money in a shorter timeframe, you could play off of assets, the expended energy, the time, and the goodwill of another business in a manner that benefits you.
Both. Examples would be like if a wedding planner established some joint ventures with a photographer, a florist, or reception hall and a videographer, right? All of them benefit from that rising tide [00:40:00] of connections to each other. And then they could even package together pricing options that allows all of them to work together and see their bottom line grow when they maybe would've lost somebody due to Their own individual pricing strategies.
So on average companies that focus on creating joint ventures, we'll see around 25% of their revenue coming from their partners, which is pretty crazy. So you discussed, hey, or you had mentioned earlier, how do I market effectively? I think when you have a strong market dominating position and you've established your trustworthy, your knowledge and your expertise, then what happens is your clients, the people you're jvd with, are out and they're your evangelist so to speak in sharing the good news about what Sarah is able to provide, and by the way, she comes by your home and does it right.
So how many alliances or joint ventures do you currently have with other businesses or services?
Sara Ellis: I would say several unofficially, you know, I definitely [00:41:00] have met up with several physical therapists that treat things that I don't treat, and I've definitely told them, Hey, I will send people to you. And I have where if it's, you know, and I have. Had a few of those in return. I, I would say in the physical therapy world, I have several outside of the physical therapy world, not a ton.
Yeah, so I don't have a good number for you. Less than 10.
Cody Hill: Great. What products or services do people normally buy before, during, or after they do business with you?
Sara Ellis: Hmm. Before, during, or after. I mean, I think that a lot of people buy some exercise equipment meant before, during, and after like, you know, just weights or exercise bands and depending on why they're getting therapy. [00:42:00] people would buy like a walker or a cane or crutches or something like that. Shoes, I mean, shoes tend to be a big one if they, A lot of people always want me to look at their shoes and give them advice on their shoes.
So those are the main things I can think of off the top of my
Cody Hill: Okay. Yeah, those are great answers. If you could form an alliance with one or more of the businesses that provide those products or services in question two, what impact do you think that would have? What their referrals have on your sales
Sara Ellis: I think it,
Cody Hill: Yeah. Your
Sara Ellis: yeah, I think it would have an impact, but probably not as much as the other. I don't, I don't know why my gut just tells me it would help, but maybe not as much as the other one. So let's say 10%. Less than 10%, I don't know.
Cody Hill: Let's do seven then. Are you good with that? I don't wanna, I don't wanna put percents on you. Would it be possible for you to add one joint venture partner per month to enhance your lead [00:43:00] generation?
Sara Ellis: I think so that, I mean, that sounds reasonable.
Cody Hill: So what would be the financial impact if you became a joint venture partner for synergistic product, which is just a fancy way to say product that people use before, during, or after they meet with you or, And you made a commission for each sale that you referred to them. So let's say somebody goes, Hey, I need new shoes, or I need this equipment.
And again, it's needs, right? And so you go, Hey, this is if it's something that's a real value add to their life, and you really believed in the value add in that product, it's not a sales pitch, but it's a hey, to continue down this path or to continue to grow it or to continue or to get back to where you want to be or to, you know, to achieve these goals, this specific product I believe in.
Right. What percent do you think that that could [00:44:00] increase? Because then it's not just you're getting a client, but you're getting a commission off of the sale of that product.
Sara Ellis: Yeah, I have literally no idea what because I haven't, I haven't done that, you know, so I, I don't even know what to guess or estimate. It's hard cuz I feel like a lot of people shop on Amazon and I don't know, you know, I've looked into being an Amazon affiliate, but yeah, that didn't work out anyways.
Cody Hill: That's for a different
Sara Ellis: Yeah, right.
Cody Hill: that for another podcast.
Sara Ellis: I don't, yeah, I, I have no idea what, what number to guess. I'll leave it up to your expecta ex expertise and your expectations.
Cody Hill: that's a lot of pressure. For now, let's just do 3%.
Sara Ellis: Yeah, I was gonna say
Cody Hill: feel comfortable with that?
Sara Ellis: gonna say probably something very low. Okay.
Cody Hill: Yeah. Okay, great. Well, hey, listen, we got through three different strategies together. And [00:45:00] there are strategies that can be implemented with just a little bit of time and a little bit of focus here. I'm gonna share my screen one last time so you can see it. We looked at just three different strategies with varying degrees of, of percentage increase to. What you're already doing, which by the way you're a business owner.
That's awesome. So I always wanna reiterate that with people that I meet with, Hey, you're doing it. You've, you've created something. It's your own and you're really moving forward with it. So I think that's really awesome. And so with these three strategies, if they were implemented you could see a $27,200 increase to your revenue which would have a new annual profit at $63,304.
Which is pretty awesome. That's without adding any money to marketing and advertising. You have a website already that you could implement some of the stuff when you have social media, you have some connections already that would be great. For alliances and joint ventures. [00:46:00] Something a little more formal than just a handshake or a wave as you pass by.
And so Sarah, we made some pretty significant breakthroughs. , I think together here. Which strategies were you most surprised by?
Sara Ellis: I mean, I don't know if surprised, but I think that the one that stuck out to me that I feel like I should do something with that is the second one more about the getting, you know, the testimonials. that kind of thing down better. Cuz yeah, just looking at the past of how my business has come along, I feel like I do need to, that's the one that sticks out that I think I need to focus on first.
I think
Cody Hill: Absolutely. I think that's a great one. So you had mentioned one of the challenges is being able to handle. Lead influx in and out of leads, being able to manage how to market well. How would what we uncovered today change this concern for you, if at all?[00:47:00]
Sara Ellis: I think that it would change it to more of less downs, more ups, . I would still probably have the concern of, oh, I'm getting all these people, what do I do with them? Which is a. , a lot of people would be like, that's a good concern. You know, everybody always says that. I'm like, yes. But yeah, so I think it would give me more stability and predictability in my patient load and my revenue essentially.
Cody Hill: Absolutely. I totally agree with you, Sarah. I wanted to say thank you so much for joining me today and opening your business up to myself and to our viewers and listeners. I hope that the breakthroughs we discovered were beneficial to you, and I'm certain that once they're implemented, we'll have an infinite impact on your profits.
And to everybody watching and listening, please make sure to like and subscribe. You will not wanna miss next week's episode where we will help another business find strategies [00:48:00] guaranteed to infinitely increase their bottom line. Until then, this is Cody Hill and to your success.