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How to Grow a Healthcare Business to $5 Million
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Company Stats
- Founded: 2018
- Revenue: $5 million
- Employees: 35+ employees
Episode Highlights
- ✅ True leaders embrace failure as a learning experience to evolve and grow.
- ✅ Building a successful business requires constant adaptation and a willingness to pivot.
- ✅ Community-based approaches in healthcare foster strong relationships with patients and professionals.
Episode Summary
In this episode, we feature Jim Judge, the founder of Relive Physical Therapy, who shares his inspiring journey from facing business challenges to creating a thriving healthcare company. Founded in 2018, Relive Physical Therapy has grown to 35 employees and projects a revenue of over $5 million this year. Jim discusses how a significant setback with a previous company led to a valuable lesson in resilience and adaptation. After a difficult partnership during the housing crisis, Jim was forced out of his company, only to see it sold for $26 million. This experience taught him the importance of learning from failure and adapting to changing circumstances.
Jim highlights how he leveraged strategic negotiations with landlords to expand his business. The company shifted its focus to include health and wellness strategies, incorporating nutrition and podiatry care into its offerings. This adaptability has been a key factor in Relive Physical Therapy's success, allowing it to thrive in a competitive healthcare market.
Jim emphasizes the importance of community engagement and strong leadership. He shares his dedication to training and developing future leaders in physical therapy through internal training centers and workshops. Jim's commitment to fostering a positive company culture has led to high employee retention and satisfied patients. His focus on serving the community and providing personalized care has been instrumental in Relive Physical Therapy's growth and success.
Notable Questions We Asked
Q: What is your failing success story, and how did it shape your approach to business?
A: I faced a major setback with a previous company when a predatory capital partner took control, leading to the company's sale. This taught me the value of resilience and adaptation in business.
Q: What role does community engagement play in your business success?
A: Community engagement is vital. We work closely with physicians and the communities we serve to address local needs, build strong relationships, and ensure our clinics meet the specific requirements of each area.
Q: How do you ensure your employees are well-trained and motivated?
A: We focus on leadership development and skills training through internal workshops and an open-door policy, ensuring our employees grow professionally and feel valued within the organization.
Q: What advice do you have for someone looking to start a physical therapy business?
A: Embrace failure as a learning opportunity, be willing to adapt and pivot, and prioritize community engagement and personalized care to build a successful healthcare business.
Q: How did you rebuild and grow your business after facing setbacks?
A: I focused on learning new skills, building a strong team, and adapting to industry changes, which allowed me to rebuild one clinic at a time and expand to 12 locations today.
Chapters
00:00 Intro
00:20 Company Stats
00:48 Challenges and Failures
02:08 Rebuilding and Pivoting
03:15 Adapting During COVID-19
05:47 Leadership and Training
07:06 Community Engagement and Contact Information
08:05 Connect with Relive
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Add us on:
#PhysicalTherapy #Leadership #Entrepreneurship #BusinessSuccess #CommunityHealthcare #Adaptability #HealthcareInnovation #Wellness #Podiatry #BusinessGrowth
300 episodes
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