Hello to all of you in our Million Dollar and Broker Communities! As always, I hope this message finds you all doing well, that business is booming!
I want to share the following email because (1) it's funny, and (2) it poses a great questions that I know a lot of people have been asking:
"Joel, I've been following you for quite some time and enjoy all of your information. I'm now at the point where it's time for me to pull the trigger and start. I'm done working for "the man" and I'm ready to live like a rock star. I'm not afraid of hard work and I'm willing to put in the effort. But I'm serious, within a few years I want to be living like a rock star. What business do you think is the best one to get me to rock star status - a broker business or an medical transportation business?"
LOL! I can honestly say, after all these years, no one has asked me about living like a rock star. Too funny! Thanks, Rick.
But with all seriousness, without knowing more about you, your market dynamics, your personal desire, and what you really want to achieve (besides living like a rock star), it's difficult for me to suggest one business versus another. But what I can do is share with you as much information as possible so you can make a more well informed decision.
This past week I shared with you my 2018 broker business numbers which were as follows:
Total Revenue: $2,847,988 with 29.1% Increase from 2017 of 9.23% I think you can see, I MADE a lot of money! I honestly don't know how much is required to be classified as rock star status, but I can assure you I'm living quite well!
Now, as for the NEMT industry, on Friday, 1/4/19, I received updated P/L numbers from one of our UMTPG members as follows:
2012 $207,137.84
2013 $159,066.35 23% Decrease
2014 $628,413.50 295% Increase
2015 $1,428,317.50 127% Increase
2016 $1,938,940.45 36% Increase
2017 $2,371,541.00 22% Increase
2018 $2,536,454.91 7% Increase
Look at the year-over-year growth since 2013 for this client-provider. Some of you know who this is because you met him at our San Jose seminar. BUT, the absolute best part…wait for it…not one single penny is from Medicaid/broker! Let me say that again. Not one single penny is from Medicaid or a broker. All of his work is either private pay or contracted work. It’s awesome!
Now, let’s not get it twisted, these numbers are not the norm – especially for those providers who insist on building their house on the sand and marrying Medicaid brokers. So, if you do decide to start a NEMT business, don’t do it where you’re dependent on Medicaid brokers.
As for my broker business, it’s full steam ahead! My goal was to break $3M in 2018, but I am confident we will do it in 2019. You can do some simple math and you can figure out how much I earned. God is good!
Now, we’re focused on building our YouAreTheBroker.com Licensees. So, Rick, should you choose to build a broker business, just reach out to us and we will initiate the process.
For those of you reading this, maybe you want to “live like a rock star” like Rick (still laughing about that!), spend some time visiting our respective sites to learn as much as possible and then make your best informed decision. We’re here to help!
See you at the Top!
Joel E. Davis |
