SaaS Interviews with CEOs, Startups, Founders
EP 485: $2.5M Foot Doctor Revenues, Launches InfoProduct, Does $750K with Dr Dan Margolin
21 Nov 2016
Chapter 1: What is the main topic discussed in this episode?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have.
Chapter 2: What are the primary services provided by a podiatrist?
I'm now at $20,000 per top. Five and six million. He is hell-bent on global domination.
Chapter 3: How does Dr. Dan Margolin generate revenue from his practices?
We just broke our 100,000-unit soul mark. And I'm your host, Nathan Latka. Okay, Top Tribe, this week's winner is Charlie Daggs.
Chapter 4: What is the Podiatry Survival Blueprint and how does it work?
Okay, he was a middle manager at a manufacturing company. He wants to break free and he won the $100 I give out every Monday. For your chance to win, simply subscribe to the podcast on iTunes right now and then text the word Nathan to 33444 to prove that you did it. Folks, many of you reach out to me and you say, Nathan, so many guests on your show talk about the importance of batching.
But whenever I try and batch, you tell me this. You go, Nathan, they don't book back-to-back times. Or they don't show up after they book. It's frustrating. The answer is, guys, you have to use smart tools. I use a tool called Acuity Scheduling at NathanLatke.com forward slash schedule. I'll tell you specifically how I use it later on in the episode. Nathan Latke here. This is episode 485.
Chapter 5: How much revenue has Dr. Dan generated from his podiatry practice?
Coming up tomorrow morning, you're going to learn from Ali Salman. Ali's agency just hit $2 million in revenue with 49 employees and a $36,000 annual contract value with his agency, Rapid Boost Marketing. How does he get such a high contract value? Top five. Good morning. Nathan Lackey here and our guest today is Dr. Dan Margolin.
He's a practicing podiatrist with over 27 years experience and a practice that ranks in the top 3% in the country. Dan current practice is his second and in comparison, wildly successful to his first. We'll talk about that in a second.
Chapter 6: What is Effective Management and its revenue model?
In addition to his current business, Dan, as a business owner, Justin Feinberg started Effective Management, a new business. Their program is directed toward helping businesses train their staff to peak performance and increase their bottom line by upwards of 30%. Dan, are you ready to take us to the top? I am absolutely ready. Did I pronounce that right? Is it podiatrist?
Is that how you say that?
Chapter 7: Why did Dr. Dan decide to create an info product?
Yes, perfect. And help people understand what a podiatrist does and how you generate revenue. So a podiatrist, you know, it's basically foot problems. In New Jersey, where we're located, it's anything that you have medically, soft tissue below the knee, bone below the ankle. So sprained ankles, bunions or the lump on the side of the big toe, any kind of heel pain, all those kind of things.
Got it. You know, the way we generate revenue is basically the patient comes in. We, you know, sometimes it's paid by the patient.
Chapter 8: What tools does Dr. Dan use for managing his business operations?
Sometimes it goes to the insurance company. But our ultimate goal is to make sure that the patient does well. And then tell me more about, I want to focus, well, you tell me, what's a bigger revenue stream for you, that business or your effective management program? You know, I think in the long term, what we've done with the effective management is going to be a bigger stream.
I think the podiatry also, but they're both can be massive. You know, there's really, it's almost like a race to like how big they can get. You know, it's funny, my viewpoint with the podiatry initially was that it was fixed, right? You see most podiatrists, They average between three and five hundred thousand dollars a year after about 15 years out. We're close to three million.
And now, you know, the viewpoint now is, well, why not? We've got a machine here. I mean, basically, we also put together this thing called the podiatry survival blueprint, which is basically a video of my job description and how you treat patients, what the appropriate protocols are for different things. So there's no limit because of that. It's really been turned into a really great machine.
So if you, if we look at Dr. Neff, we look back just at 2015, how much revenue did just the pitagrist business do? 2015, we did about 2.4. And how much, and how much, it looks like you just launched kind of the effective management program, but how much did the program do? Uh, the program did about, uh, 300,000, 300,000. And, and you have, that was just launching it really.
So that was like our, pretty much our first year. So let me ask you a question. Why does a guy like you that already, you know, you have two locations, you have your business, you're doing 2.5 million per year. Why go and launch kind of an info product? I love this stuff, man. I love, you know what? I love helping people.
I know what happened for me years ago was I started out in practice 30 years ago, no business background. really fell on my head. You know, I thought, hey, man, I'm a doctor. I put up a sign and help a lot of people and it'll work out great. And the world isn't like that anymore. You know, you really have to have a very high business acumen.
And somebody was kind enough to actually introduce me to a management tech called Hubbard Management Tech, which was basic business understanding. And it saved me. And I just feel like I owe back. I mean, you know, somebody was kind enough to do that for me. I'd like to do that for other people. So why don't you just give it away for free? You know what? Because nobody lives that way.
I mean, that's that's communism. Right. Like there's expenses, there's staff, there's all these other things. You know, I also want to I want to get exchanged. And I I believe in this and I'll exchange in abundance with people. But I expect the same back. You know, there's four ways like an exchange can go. Right. I can rip you off. I can do part of what I say.
I can do exactly what I say or I can do more than what I say. And if I do more than what I say, I expect more back. So it's fair that way. And what's your team size currently? Right now we have about 27 staff at New Jersey foot and ankle. And walk us through. So the medical company is doing well.
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