Hello to our Million Dollar Community! As always, I hope this message finds you all doing well, and business is booming.
PLEASE pay attention to this message! I'll work to be quick.
I'm sure I'll discuss this situation in great detail in an upcoming video, but because of the severity of the situation and desperation of a client-provider I spoke with today, I'm compelled to share, so many of you don't make the same costly mistakes.
Long story short, this client-provider, although well intentioned, fell for the fluffy feel-good video content from other YouTubers peddling what I'll refer to as "shallow" whitewalker NEMT nonsense.
The result? She's DESTROYED!!
Wrong vehicles. Modivcare owes her more than $40k and not paying. She now in debt. Her drivers are gone. She now alone. The list goes on.
Rules of Thumb:
1. IF, IF, IF your desires and expectations are to (1) Build, (2) Grow, (3) Scale, and (4) Sell at a future multiple, DO NOT LISTEN TO SOMEONE WHO IS STILL DRIVING!!!
SERIOUSLY, if all you want to do is because a great NEMT driver, fine, not a problem, listen to the content from an owner-operator who is still driving and do exactly what they say!
2. IF the person/people you're listening to is suggesting you start with brand new vehicles, or anything close, RUN!! You're going to go broke!
3. Equally as bad, IF the person/people you're listening to is encouraging you to start with your own vehicle, RUN!! You're only going to be able to chase low hanging ambulatory fruit and you're never going to have adequate margin to Build, Grow, and Scale!
4. IF the primary strategy of the person/people you're listening to is to sign up with Medicaid brokers (the more the merrier), RUN!! IF all they know is broker work, and they can't help you pursue direct-pay contracts, RUN!!
Some ancillary rules of thumb that are from more of a strategic level versus entry level:
5. IF the person/people you're listening to can help you draft and edit contracts, RUN!!
6. IF the person/people can't help you develop a dynamic business model to help you make more money while limiting exposure to risk and liability, RUN!!
7. IF the person/people you're listening to can't properly advise you through the acquisition process, RUN!!
I always encourage providers to plan their exit strategy before starting. With that being said, if you know the person/people you're listening to can't help you with selling your business for a multiple, they can't literally help you through the acquisition process, why the heck would you listen to them in the beginning?!
I could go on and on, but I promised and need to be quick, so until I shoot a video and discuss in greater detail, folks, PLEASE be weary of who you listen to and the advice you follow! If the person is NOT already where you wish to be, you guessed it.....RUN!! It's only going to cost you MORE money and heartache!
See you at the Top!
Joel E. Davis
PS: Please forgive all typos and spelling errors! I'm at a rest stop typing this message on my phone. LOL! | 
