The Dave Kittle Show

As a practice owner, you may want to focus on stimulating growth, gaining competitive advantages, and increasing your company's market share, but do your core values reflect who you are in your business? Are you being transparent about your beliefs? How will "doctors supported, patients driven, and staff focused" be implemented in your organization? Why go and pursue the route of acquisition? And how would you assess cultural fit to make sure that they are the right fit for your group?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Dr. Todd Russell, DDS. Dr. D. Todd, is the founder and CEO of Empire Dental Arts, a successful dental partnership organization based in Northeast Ohio. He is an award-winning dentist and executive leader with 30+ years’ experience driving best practices across strategic practice operations and patient care. He is adept at identifying and executing disciplined operational and business strategies across dental facilities management, clinician teams, patient care, and organizational visioning. He champions sound, disciplined management planning to elevate practice performance and patient engagement. Dr. Russell is an executive and community leader who continues to advance provider excellence and optimize practice performance. With unmatched clinical and industry experience, he masters a collaborative leadership approach to surpass provider and patient expectations and drive innovative dentistry healthcare advancements.

We will touch on such topics as:

• Let the doctors become your partners within your organization.
• Strongly believe in a relationship between your patients and practitioners. Recognize that, in the dental space in particular, people don’t gravitate to a brand name, they gravitate to the doctor instead.
• Without doctors, patients, and your staff, you don’t have anything to be able to serve a community to the fullest extent.
• Whether you choose to change or not, what you are doing in your practice makes you different.
• It is important that when you have core values, you go to the depth of the talk and walk the walk with your team. This creates conversation that brings the team closer together.
• Have the autonomy, confidence, and ownership mindset to know that you can solve any problem without repercussions as long as, ultimately, the patient is the happiest person in the world. 

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As the owner of a healthcare practice, what would be the most impressive and potentially helpful tip for practice owners like you going through the process of exiting or selling your practice? What is the decision-making process and if you own the practice location, what happens to your real estate? How will you prepare your employees and make them understand that you are searching for opportunities?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Bob Babb PT, MBA. Bob Babb, PT, MBA is a physical therapist and was the founder and previous CEO of Physical Therapy & Wellness. Bob founded PTW in 2002 and grew it to 11 locations in the Philadelphia suburbs, and partnered/exited to Ivy Rehab in 2019. He looks back in hindsight and thinks that he got lucky in selling this practice about 1 year before the Covid-19 pandemic. Bob also owns real estate and that includes owning the properties of several of his original clinic offices. After the transaction with Ivy, he kept the real estate of these clinics which means now Ivy Rehab is a tenant at several of his properties.

We will touch on such topics as:

• You get the keys to the kingdom when you open up your own practice, and you have a lot of responsibilities and wear a lot of hats. One of the hats that you wear is leadership, which helps people grow in their careers.
• The mindset that you should have is that the business is always up for sale so you can understand what’s important to potential buyers and what the best practices are.
• Every business owner should shift their mindset to understand that this is part of your responsibility as a leader. You need to understand what the opportunities are for the business and for the people as you continue to grow.
• Follow what you feel is good and what you work really hard on, especially if you are good at it.
• Selling your practice gives you an opportunity to go out and do other things. 

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Call (646)-781-8884

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An acquisition can help your company rapidly increase its market share. Even though competition can be difficult, growth through acquisition can help gain a competitive advantage in the marketplace. But the question is, how does it work from a patient acquisition standpoint? Are you marketing to physicians or referral organizations, or are you trying to get direct access to the consumer? How will you grow and scale acquisition as an out-of-network practice while using a platform as a jumping point into a strategic acquisition growth strategy?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Rafael Salazar II, MHS, OTR/L who is an occupational therapist and private practice owner of ProActive Rehabilitation & Wellness in Augusta, GA. Rafi is also the principal owner of Rehab U Practice Solutions. You can learn more on his website at https://rehabupracticesolutions.com/.

You can also check out his podcast, where he’s the host of The Better Outcomes Show at www.betteroutcomes.show

We will touch on such topics as:

• At the end of the day, not all businesses can be the right fit for every single consumer.
• Growth through acquisition will help you get to where you want to be faster.
• When having a long-term investment horizon, you don’t need to have a quick 5 to 7 year return on investment, which is a short-term play.
• Look outside the box. Look and find resources. There’s an opportunity to find something that will help you start your business.
• There are ways where you can acquire a practice that you already know and trust, so you can see that you can work hard on it and implement new ideas into it.
• Look at the pros and cons of acquiring someone else’s practice. 

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Your business should be simple to operate. Do you even wonder why big businesses and corporate owners have been able to have more free time than you as a small business owner? How were they able to take longer vacations, more work-life balance, and be less stressed than you?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Sturdy McKee. Sturdy is the Senior Coach and Advisor at Sturdy Coaching. He works with founders and business owners to implement programs in business to make their business Simple, Easy, and Profitable.

He loves working with business owners and helping them realize their Visions. He loves helping and watching them grow as leaders. He loves seeing their cultures bloom and their energy grow as they engage and learn to work both in and ON their companies. Check out his website at https://sturdycoaching.com/ .

Are you the "bottleneck" in your business? Now, this Indiegogo campaign offers a discount that will be expiring soon, so check it out while it's available.

Check this link: https://www.indiegogo.com/projects/the-best-small-business-in-the-world#/

We will touch on such topics as:

• When value has been created it is easier to exit a business, or find new employees.
• To increase the independence of your business use systems and procedures. Systems help with clarity and efficiency, knowing what's supposed to get done, and how.
• 80-90% of business owners experienced the same challenges as you are right now: hiring process, delegation, and releasing control.
• What is the foundational piece that really could help and impact essentially any small business?
• We aim to democratize business coaching by providing affordable solutions that help you get results.
• Be creative, but don’t worry about making mistakes.
• Your job, as a coach, is to help them actualize, transcend, become that person that they want to be.

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Your business was not worth that much when you opened your doors and you started completely from scratch, but since then, your practice has grown a bit and, over that time, the proportion of your assets tied to your practice has most likely increased. That’s when you built a successful physical therapy practice, but when was the last time you calculated the percentage of your net worth tied to your practice’s value? Are you one of the practice owners looking for your “Freedom Point” and thinking about exiting or selling your practice? 

This week's Dave Kittle Show episode, Dave Kittle will talk about 3 options for physical therapy practice owners who are considering exiting or selling their practice when they get to their point of freedom and want to diversify their net worth. 

He will touch on such topics as:

• When you get to the point of freedom and want to diversify, but still don’t want to retire, you have a lot of options in order to achieve that.
• Selling a minority stake in your business allows you to diversify your net worth while continuing to control your business.
• When selling a majority stake in your practice, the buyer may ask you to continue to run your business for many years to come.
• When selling your physical therapy practice, you will likely have to agree to a transition period, which varies for several reasons.
• Building a successful practice is rewarding, but when your personal balance sheet is mostly tied up to the value of your practice, that’s when things get challenging.  

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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As a business owner, are you thinking about the next chapter of life? Are you considering exiting your practice? What strategy can you use to exit on your own terms? How big do you need to grow your practice to get the kind of cash payout that you are looking for at the end? How can an owner like you quantify or value your practice while remaining comfortable and sleeping better during the transaction? 

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Michael Piekutoski. Michael Piekutoski is a Physical Therapist and the Founder, Advisor/Consultant at PT Practice Sales & Consulting. He’s been in the PT world for decades and, among many roles, was the VP of Operations for a national PT company. And, now, he helps therapy practice owners with the start of their exit planning and succession planning all the way through finding buyers, conducting negotiations, and getting owners top dollar for their practice. Mike has completed over 50 PT transactions for over $115 Million in value. You can learn more about Mike and his firm’s services at physicaltherapybrokers.com or you can email him at [email protected]. 

We will touch on such topics as:

• How an “exit strategy” is defined in relation to therapy practice and owner dynamics.
• The timeline and tools an owner should think about when considering an exit strategy.
• If you can eliminate the red flag issues or identify a couple of things that will help improve the value of your business over a 6 to 12 month time frame and you can implement those and demonstrate the value of that when you go to process, it will help make your business more attractive and valuable upon your exit.
• The Physical therapy business will always be a relationship business. If other businesses don’t have the kind of relationship that you developed over the years are not going to be successful.
• When it comes to acquisitions, the thing that a buyer is purchasing is the relationships that you have built. 

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Owning a business gives you time freedom, but are you one of the owners who are thinking of selling your own practice? Who are you going to sell it to? Should you talk to multiple buyers and get offers? How will you sell your practice at its maximum value and fair market rate? Do you need a broker or not to sell your business? Or have you sold your practice but don’t want to start from scratch and do franchise opportunities? 

This week's Dave Kittle Show episode, Dave Kittle will be joined by Michael Gorman. Dr. Michael Gorman, Founder of iMove PT, is a physical therapist, private practice owner, and entrepreneur. He started St Louis Physical Therapy in 2002 and grew it to 7 locations. After 15 years, Michael sold his 7 clinics to a national healthcare company. He continued treating patients in the practice for another 2 and a half years before leaving completely. Michael attempted to acquire Dean Volk’s 2 clinic location practice (Volk PT), however, the Covid pandemic destroyed that potential deal. So, instead he started the iMovePT franchise to provide patients with a one on one treatment experience. You can connect with Michael Gorman at iMove PT to learn more about franchise opportunities at https://imovephysicaltherapy.com 

We will touch on such topics as:

• Can a practice owner that has one or two locations and at least a million in revenue get 7x EBITDA?
• Sometimes, when you are the owner of your practice, you forget what it is like to be an employee.
• What kind of practice do you want to have where you are going to make the most money that you possibly can?
• You have an opportunity to share what you have learned and give others an opportunity to be self-employed that can truly create something for themselves and their family.
• Who would be a good fit for getting franchise opportunities? 

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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We all know that the best advocates for a business will always be happy employees. As a business owner, what are your challenges in choosing your staff? What's a good jumping off point with your practice and in exiting? Are you having thoughts of selling your practice and trying another field of work that will give you more excitement? When selling your practice, why do you say no to several buyers? Some may not be appealing to you, or maybe because you don’t like their reputation or culture.

This week's Dave Kittle Show episode, Dave Kittle will be joined by Jamey Schrier. Jamey Schrier is a physical therapist, previous private practice owner, author, coach, consultant, and speaker. Jamey helps physical therapy practice owners and healthcare business owners treat less and earn more. Jamey is the best-selling author of the Practice Freedom Method: The Practice Owner's Guide to Work Less, Earn More, and Live Your Passion.

He’s a former multi-clinic physical therapy practice owner for over 15 years, selling his business for an astonishing 66% over market value in 2016. Now, he’s helped hundreds of private practice owners create a business they love by cutting their work hours in half and doubling their income using the Practice Freedom Method. And, Jamey’s a sought after speaker and business expert who has spoken at industry conferences including Private Practice Section, APTA Combined Sections Meeting, and Ascend Conference.

We will touch on such topics as:

• You are the reason why all of this happened and you are also the solution in your business.
• How do you improve as a person and a leader day by day?
• In business, the goal has to be to continue to grow because the world is evolving all the time.
• The bigger the company, the more organized and predictable they typically are.
• Look at your business from the other person’s point of view to know how much it is worth.
• People would rather pay more money and know what they are getting than pay smaller amounts of money and just make it a question mark.
• Get very clear on who your target audience is, because you can’t serve everyone.
• How to learn your target audience's pain points, struggles, desires, and what they want to know?  

You can learn more by checking out Jamey’s website www.practicefreedomu.com or by emailing him at [email protected].

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Are you a business owner who is considering selling your healthcare business? Many business owners are considering it after the challenging market of the last year and a half. What do brokers do for business owners like you to help sell your practice? How much do you think your business is worth? Do you know how a broker can help you figure it out and negotiate it with their opinion of value?

This week's Dave Kittle Show episode, Dave Kittle will be joined by David Cozzocrea. David is a healthcare business broker and President at Southeast Business Advisors in Tallahassee, FL.

Selling your practice can allow you to realize the next chapter of your life. Whether that be retirement, scaling back day to day running of a business, moving on to another business, or simply cashing out.

Unfortunately, over 80% of businesses listed for sale never actually sell, and less than half receive their listing price. When you work with a broker like David Cozzocrea, you’re dealing with industry experts, and fellow business owners, who can help you get your business sold for top dollar.

It’s a complex affair involving hundreds of variables. Without a professional team to guide you, you face an uncertain and challenging economy, unbridled competition, and sophisticated buyers. Don’t face these obstacles on your own – today’s guest, David Cozzocrea – can guide you through the process. His goal is to make the process as smooth as possible for both sides...

It's never too early to prepare for a sale...

We will touch on such topics as:

• Without a professional team to guide you, you face an uncertain and challenging economy, unbridled competition, and sophisticated buyers.
• Most people don’t know how to sell a business.
• It is beneficial to work with a broker when selling your practice because they handle everything.
• In order to come up with the value of your business, you need to gather all the financial information.
• The difference between the broker’s opinion of value and a certified business appraisal
• An average time for a business to sell is 9 to 12 months.
• The reason why a business will never get sold is because of its being overvalued. 

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Have you ever thought about selling your practice and considered an exit from the business? How can you legally and ethically sell your therapy practice for a top dollar price while making sure that your loyal staff are well taken care of?

This week's Dave Kittle Show episode, Dave Kittle will talk about how add-backs can increase your overall asking price, ultimately increasing the exit price whether you are selling 100% of your practice or even just 65% of it. He will also define EBITDA and how it measures your therapy practice’s overall financial performance and how it is used as an alternative to other metrix of assessing and valuing practice such as earnings, revenue, and income.

He will touch on such topics as:

• The greater the EBITDA, the greater the purchase price you can demand or negotiate for your therapy practice.
• An owner like you should document deductions that will not reoccur for a buyer.
• Add-backs are a big factor in selling your therapy practice for top dollar.
• Add-backs are broken down into two categories: non-business-related add-backs and non-recurring or extraordinary add-backs.

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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