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CBP 48: Break the PT Salary Ceiling by Starting Your Own Practice OR an ONLINE Business – Reverse Interview w/ Chad Prince PT

This was the last of 3 ‘reverse interviews’ I did in which I was put on the hot seat and had to answer questions rather than ask them. And it was a fun one!

Chad Prince has had a long career in Physical Therapy and this episode is essentially an interview for his new book:

Physical Therapy Career & Salary Guide:  Avoid the Income Ceiling and Put Your Career in the FASTLANE.

We cover a ton of topics and especially dive into my advice for those considering starting a private practice AND those who would like to start an online business to generate additional income.

In this episode, I answer the following questions:

  • Your About Page says that you worked in private practice settings before opening Carter Physiotherapy. Will you describe the moment when you realized that not only were you going to open your own, solo practice, but that it would also be a cash-based clinic?

  • For physical therapists, running a cash-based practice is outside of the box, but having an online business is taking entrepreneurialism to another level.  What inspired you to go down this road, to write your ebook, start your blog and your websites?

  • You’ve developed specialized skills as a PT (MTC, CSCS), you’ve positioned yourself as an authority on cash-based clinics, and you’ve developed a platform with many subscribers. It’s pretty obvious that you are driven. No doubt there are milestones you are working to reach. Will you share some of your goals, and more importantly, tell about where you were in relation to your current progress when you set them?

  • What advice do you have for physical therapists who have hit the income ceiling, and who look at what you are doing and think they want start a business of their own? Whether it’s a private practice OR an online business.

Resources/Links

Click Here to check out Chad’s Book .. It’s a MUST READ

The Four Hour Workweek by Tim Ferriss

Tim Ferriss’ Podcast

SmartPassiveIncome.com

The Smart Passive Income Podcast

The Derek Halpern Podcast

The Millionaire Fastlane by MJ DeMarco

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{ 6 comments… read them below or add one }

Mary Lynn Hafner, PT, DPT June 24, 2016 at 7:33 pm

Thank you for bringing up the PT income ceiling! It’s been on may mind a lot lately along with the thought… where do the retired PTs go?

I started my career making a better salary than my non-healthcare college friends yet that salary plateaued quickly and even dropped depending on where I lived.

I have been a PT for 20 years in various settings and locations. I choose to spend the last half of my career working part-time PRN, due to my spouse’s military career & family priorities. I love what I do and its never been about the money, yet…

As Chad comments in the podcast, PTs with 10 yrs experience can make the same as those with 20yrs!

Thank you Jared for sharing innovative ways to re-invent our profession and create value.

Reply

Dr Jarod Carter June 24, 2016 at 10:34 pm

Thanks for the comment and the kind words!

Reply

Chad Prince June 25, 2016 at 2:06 am

Thanks for the comments! The income ceiling is certainly a reality within our profession. The good news is there are many ways this can be raised. It was a ton of fun talking with trailblazing therapists who have all found ways to expand their impact. I’m glad this topic resonates with you.

Reply

Bryce Williams, PT July 2, 2016 at 3:50 pm

Been following your podcasts for a bit now and they never disappoint. Thanks for yet another informative interview (reverse interview in this case). I agree that the topic of salary is something that can be frustrating to most of us yet we tend to not want to talk about it. That must change. Things like this help to facilitate that discussion. I am already halfway through Chad’s book and it is eye opening, to be certain. Keep doing what you’re doing, Jarod. Outside the box thinking and alternative business models are going to nearly be a requirement in the near future given the increasing cost of education along with the income ceiling of traditional employment.

Reply

Dr Jarod Carter July 5, 2016 at 5:12 pm

Thanks for the comments and kind words, Bryce. And so glad you’re enjoying Chad’s book! It’s awesome

Reply

Chad Prince July 5, 2016 at 5:41 pm

Sure appreciate your comments and retweets, Bryce, and glad you’ve found the book interesting!

Reply

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