Nitin 360

Earning Money While You Sleep

Posted on 12. Mar, 2009 by Nitin in Fitness Marketing, Grow Your Private Practice

As physical therapists and fitness professionals, is there a way to earn revenue after clinic / facility hours?

Yes, if you have your own products. A product can be a DVD, audio CD, an ‘inner circle’ patient newsletter, a membership based website or an ‘infoproduct’, like an ebook that can be sold and delivered by a third party.

Sorry for the start of this video.. blame it on my wife.. she was just figuring out how to use the camcorder..:)

As professionals, the way we make money is:

Give a patient your time > get reimbursed by insurance companies (takes time)

As recurring revenue kings, the way we CAN make money is:

Give a product your time > leverage it with tens, perhaps hundreds (if you plan well, perhaps thousands) of individuals > get paid a little money from all thes individuals > get paid instantly.

Let’s say you spend 1 hour working with a patient, and your practice is reimbursed $90 (if you are lucky).

Now, let’s say you spend 1 hour developing an ebook on health and physical therapy, it sells for $19, and 100 people buy it.

This book just made you $1900.

Taking this concept to the next level, what if you sold access to a “Secrets To Pain Relief” email newsletter that you send out once a month to selected patients, for a free of just $9 a month. If you can get 20 patients to commit, you are making $180 a month for a newsletter that will take you 20-30 minutes to write.

Now, you make $180 a month for the rest of your life, even if the number of subscribers does not increase.

You must earn money while you sleep. You must continue to earn more and more money from the same patient and maximise the ‘cash collection’ from each patient, using a continuity program.

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Tags: Fitness Marketing, Grow Your Private Practice, physical therapy marketing, recurring revenue