In this episode of the PT Entrepreneur Podcast, Doc Danny tackles the fear of making your first hire. Learn how to calculate the break-even point for a new employee, strategies for building their schedule, and how to overcome the anxiety of salary burdens. Whether you're hiring part-time or full-time, this episode provides actionable insights to help you grow your team and business with confidence.
Key Takeaways:
- First Hire Fears: Hiring your first employee can feel daunting, especially with the perceived salary burden.
- Break-Even Calculation: Determine break-even by dividing the employee's salary by your average visit rate to calculate the required monthly visits.
- Part-Time vs. Full-Time: Both models can work, but full-time provides better focus and scalability if cash reserves allow.
- Initial Goals: Aim to get a new hire's schedule one-third full (break-even point) within the first 1-2 months.
- Growth Potential: Most full-time providers settle at 105-110 visits/month, far exceeding the break-even threshold.
- Recurring Visits Help: Strong recurring visit volume reduces the burden of new evaluations, building schedules faster.
- Plan for Reserves: Expect initial salary costs for 1-2 months before break-even and ensure cash reserves to cover early deficits.
- Mindset Shift: Focus on manageable goals like reaching break-even, not filling the schedule entirely right away.
- Scalability: Bringing on talented clinicians elevates your business and relieves pressure once they reach profitability.
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