Lessons from selling billions of dollars of orange chicken

On a recent trip with my ultra-healthy business partners, I convinced them to get dinner at Panda Express.

Now, Panda Express is my guilty pleasure.

I only eat it about once very 3-6 months but when I do….I always get double orange chicken!

It’s obviously not authentic Chinese food but it’s delicious and it reminds me of my middle school/high school days.

I would go to our local mall, order as much orange chicken as I could afford and then cruise the mall looking for girls to strike up a conversation with.

The orange chicken was always a success…..the conversations with girls rarely were.

I decided to do a little digging on Panda Express as a business after my most recent trip with my kids.

I figured it would be owned by a private equity company or big conglomerate.

What I found fascinated me and I think there are some solid business lessons we can lean from the Panda Express crew.

First, it was started in 1973 by two Chinese immigrants.

It’s been family-owned since then and the vast majority of their 2,200 restaurants are not franchises.

This is almost unheard of in the restaurant industry especially at the scale of Panda Express.

What I found really interesting was how they credit much of their success to simplifying their model.

The founders Andrew and Peggy Cherng, state that they really saw growth when they decreased their menu options and simplified their cooking processes.

They also made an incredibly lean business model that focused on ultra efficient locations in malls.

Their growth was fueled by profit instead of taking on capital partners like most businesses that have massive scale.

I find this really interesting because they did things so different than most restaurant chains.

The most impressive thing I see is how committed they have been to this simple business model for basically 45 years!

It’s hard to stick to a business model for 5 years, let alone 45 years.

Today, they have about 3 billion dollars in sales…that’s a lot of orange chicken.

I think the most important lesson you can learn from this is to lengthen your timelines.

Imagine focusing only on your current business for the next 40 years.

Would that change how you make decisions? Would that change what services you decide to offer? Would that change your estimated trajectory?

Too often I see entrepreneurs jumping form one project to the next. I’ve been guilty of this myself! I started PT Biz in the middle of growing Athletes’ Potential.

If you can double down on your business and not jump to a new business or project, you will be much better off.

You can get pretty damn good at selling and making orange chicken in 45 years.

Just image how good you can be at selling and delivering great clinical services if you focus on it for the next 45 years.

If you’re interested in getting some support and accountability to help start or grow a cash practice…..we should talk.

I recommend jumping on a totally free, quick 20 minute call with our team.

You’ll talk to a real person and they will give you customized guidance on your next skills or steps to take to gain momentum in your business.

We don’t sell anything on this call and you literally couldn’t buy something from us if you wanted to in this call.

We just know we can help and we want to prove it to you for free.

Click here to pick a time that works for you

It’s time to start making some serious progress in your business/life.

Danny
Physical Therapy BIZ

P.S. If you have a practice, check out our friends at PtEverywhere. We switched to their software to run our cash practice and it’s been a game changer!

How to deal with business rejection

I don’t know anyone that hasn’t been rejected in some capacity.

Maybe you didn’t make that team you tried out for.

Maybe you got denied by that PT school you really wanted to get into.

Maybe that girl/guy you really wanted to date shot you down.

Rejection is uncomfortable but a normal part of life.

If you decide to go into business for yourself, you’ll be dealing with rejection on a whole new level.

I had a few questions today on my weekly Clinical Rainmaker coaching call that had to do with rejection.

Two providers that are in our coaching program asked me about dealing with another business owner that didn’t want to work with them.

These are both newer business owners and they both felt personally offended and frustrated that these other business owners didn’t want to work with them.

I’ve been there and have been equally frustrated by these situations.

You feel like you finally got a chance to talk to or meet someone that could really help your business and…..you bomb.

It’s a special kind of rejection we all have to go through in order to build a successful business.

Honestly, this is one of the reasons I have so much respect for people willing to become entrepreneurs. It’s not a matter of if you’re going to get rejected, it’s just a matter of if you can deal with rejection well enough to keep going.

If you’ve been in business for a while, I’m guessing you’ve got thicker skin because of it.

I want to share what’s helped me because I think rejection and the fear of rejection are some of the biggest obstacles we have to overcome if we want successful businesses.

There are two things I focus on when it comes to rejection in business.

Number 1- Focusing on the future vision I’m trying to work towards over the next few years.

Knowing exactly what you want your business/life to look like over the next few years is very important. It helps you make the right decisions and say no to the wrong things.

This also helps you deal with set backs. Some of those set backs will be rejection from other business owners or people you’re looking to hire.

If you focus on the bigger picture and vision, these bumps in the road you hit will seem much more insignificant and create far less stress for you.

Reviewing your vision every morning is the best way to make sure you’re focusing on this future reality you’re trying to create.

Swap out reading your vision in place of scrolling through Instagram every morning and it will change your life.

Number 2- Focus on what you can control.

This is Stoicism 101. There’s a reason why we send a copy of the Daily Stoic to every new Mastermind member we work with. Understanding and applying just this one concept can make a huge difference in your life as an entrepreneur.

We can’t make other people like us. In fact, the harder we try to get someone to like us, the more likely it is that they will dislike us.

All you can control is how you respond and the way you interact with people.

Slow yourself down with new connections. Don’t try to rush relationships and that will help tremendously in the long run.

If someone doesn’t want to work with you, partner with you or join your team, it’s fine.

We can spend hours or days fixated on trying to figure out exactly what caused this person to not want to work with us.

A better use of our time would be spending hours or days working on improving things in our business we can control.

Time is scarce. Don’t waste it worrying about things you cannot control.

Now, this is easy to read but hard to put into practice.

You need to be tested. Remember, next time you find yourself in a situation where things aren’t working out for you, focus on your vision and on what you can control.

Also, don’t let your bad day turn into your family’s bad night.

Too often, we let negative interactions at work lead to negative interactions at home with the people we are closest to.

Your spouse and your kids do not deserve to be on the receiving end of your frustration.

I’ve been guilty of this more times than I would like to admit.

I honestly hope this helps because if you can improve this area in business, it will spill over in a very positive way into your personal life.

I recommend jumping on a totally free, quick 20 minute call with our team.

You’ll talk to a real person, and they will give you customized guidance on your next skills or steps to take to gain momentum in your business.

We don’t sell anything on this call, and you literally couldn’t buy something from us if you wanted to in this call.

We just know we can help, and we want to prove it to you for free.

Click here to pick a time that works for you

It’s time to start making some serious progress in your business/life.

Danny
Physical Therapy BIZ

P.S. If you have a practice, check out our friends at PtEverywhere. We switched to their software to run our cash practice and it’s been a game changer!

The best part of a cash practice and it’s not money

The last year of my DPT program was spending about 10 months in an out patient ortho clinic.

This was your traditional high volume clinic. It took basically every insurance and had a decent amount of work comp patients.

I remember the first work comp patient I ever had….because he was still there at the end of my 10 month rotation.

Let’s call him Bill for the sake of this story.

Bill was 22 years old. I was only 24 so it was refreshing to get someone on my schedule under 50 years old!

He worked for a company that built cellphone towers and he had been working for them since he graduated high school 4 years earlier.

When I saw Bill, he was a new patient to me but not a new patient to the practice.

He had already been there for about 6 months.

Bill was there because he had hurt his ankle while building a cellphone tower one day.

He was about 100 feet up when he slipped and fell.

Luckily, he was tethered in with his safety rope other wise I wouldn’t be telling you about him.

He was consistent, diligent and never missed a visit.

He was originally diagnosed with a grade II ankle sprain.

No sign of fracture on imaging and even though he had a little bit of laxity, it wasn’t bad.

When I took over Bill’s case, I thought I would get him turned around in no time.

2-3x a week, every week he and I worked on his ankle.

Everyday after we would get done, I would see how he felt and he always felt the same.

Sometimes it would feel slightly worse but never better.

It took everything in me to work with him and actually give a shit.

It was apparent to me and basically anyone that worked with him that he really didn’t want to get better.

He was enjoying a reduced paycheck and honestly, I get why he didn’t want to go back to work.

He almost died falling off a cellphone tower! I probably wouldn’t want to rush to get back to that either.

He was one of many work comp patients I worked with that just frustrated me as a clinician. The same was true with many of the personal injury cases I was assigned.

When I approached my clinical mentor about it, he said I basically just had to get used to some people playing the game.

Since the day I opened my cash practice almost 8 years ago….I’ve never once questioned if someone actually wanted to get better.

I’ve never questioned if what I was doing was the right thing because I know everyone I work with will be compliant and wants to get better.

The ability to work with highly motivated people is hands down my favorite part of the practice.

Ultimately, I think that’s what we all really want.

I didn’t go to PT school because I wanted to open a business….I went because I wanted to learn how to help people.

There’s nothing better in my opinion than getting to work with highly motivated clients.

Sure, you can make more money and have more autonomy in these practices but I’ll take great patients over more money if I have to choose.

If you’re still dealing with people that drain all of your energy because of lack of motivation on their end, there’s a better way.

If you’re willing to learn a few skills on the business side of things, you can attract and work with your ideal client basically every time.

It helped me go from being a frustrated clinician that was thinking about changing careers to loving seeing patients again.

If you’re interested in making a change like this or growing a cash practice that you have already started…..we should talk.

I recommend jumping on a totally free, quick 20 minute call with our team.

You’ll talk to a real person, and they will give you customized guidance on your next skills or steps to take to gain momentum in your business.

We don’t sell anything on this call, and you literally couldn’t buy something from us if you wanted to in this call.

We just know we can help, and we want to prove it to you for free.

Click here to pick a time that works for you

It’s time to start making some serious progress in your business/life.

Danny
Physical Therapy BIZ

P.S. If you have a practice, check out our friends at PtEverywhere. We switched to their software to run our cash practice and it’s been a game changer!