Let’s face it, not many people in this world get very far without making some money. In this podcast, Brian shares his successful actions and tips on how to make more of it! So, be a “go-getter” and learn how to make better money so as to improve your quality of life, live more comfortably, and get the most out of doing what you love.
Episode at a glance:
- SBA loans are great options when opening your practice. They usually fund about 80% of what you ask for.
- Success is considered making 16 cents for every dollar (16% net revenue) though ideally, 20 cents on the dollar.
- Don’t continue marketing activities that don’t bring in a 200% return on investment.
- Master your internal AND external marketing so that 60% of your evals are from return business.
- When it comes to managing your expenses break it down so that 10% goes to your operation costs, rent should be less than 10% of gross income, and payroll should be 50% or less.
- Make the most out of your money by writing off expenses, reducing taxable income, giving yourself a base salary and then taking distributions.
Brian Gallagher, PT is the founder and CEO of MEG Business Management, LLC. He has more than 27 years of experience in the field of rehabilitation and 19 years in business and specializes in Physical Therapy practice management and executive coaching nationwide. As a licensed business management consultant, Brian has helped hundreds of business owners nationwide improve their business operations through proper restructuring to achieve improved systems of efficiency and productivity as well as marketing and sales with effective public relations which have proven results for double-digit growth year-over-year with businesses around the country.