Hello to everyone in the Million Dollar and Broker Communities! As always, I hope you are all doing well and you are preparing to BOOM in what is a "Cleansing" of the industry!
Now, I can't take credit for the word "cleansing" in reference to what is happening throughout our industry as a result of this overblown and overreacted to pandemic.
Credit for that exceptionally applicable key word, "cleansing," goes to Juan McLemore. Many of you met him in Atlanta last year.
As I was recently explaining to Juan, a "cleansing" is exactly what's happening to those small, independent service providers who were busy undercutting legitimate services as well those companies that were highly leveraged.
Ironically enough, I received an interesting message from one of my fellow FAT Men from Army Football, Dustin Plumadore. He played a few years after me, but I know him well. He's an attorney who recently transitioned back from Las Vegas to the People Republic of New York.
Part of his email reads as follows:
"...I’m a healthcare attorney, so I do everything from corporate/transactional work, compliance work, and malpractice defense. Our firm represents a few different medical transportation companies and it looks as though they have assisted with the stock purchase agreements and sale of businesses that are in dire financial straits. Why weren't these guys reaching out to you to learn how to do it right? This is crazy."
We went onto discuss more, but you get the general idea.
A "cleansing" is upon us and there are many things to learn. In an effort to keep this message short, I'll let you draw your own conclusions, but your short list better include (1) you don't want to be highly leveraged, (2) you want to be invested in contracted work because the ballooning affected has already started, and (3) now can be an outstanding opportunity to buyout competitors and/or pickup cheap assets!
For any of you in need of a good attorney for your NEMT or home care business, please feel free to connect with my buddy on LinkedIn at https://www.linkedin.com/in/dustinplumadore. It's obvious that I'm prettier than him, but he's smatter than me! LOL!
For those of you who "weathered the storm" of this overblown pandemic and your eyes have been opened to the many vulnerabilities that include being overly dependent on brokers and/or being highly leveraged, transition your business to a solid foundation!
Lord help us, if these current events haven't convinced you of the need for change, I have no idea what could ever convince you.
See you at the Top!
Joel E. Davis | 
