WEBVTT 00:00:00.000 --> 00:00:02.140 And of course, I'm able to see your name, but 00:00:02.140 --> 00:00:04.259 please do me a favor for those that aren't watching. 00:00:04.360 --> 00:00:06.860 Show your first name, last name, where you're 00:00:06.860 --> 00:00:09.140 located, and the name of your business. Sure. 00:00:09.179 --> 00:00:11.439 Jovanka, thank you so much for having me here. 00:00:11.519 --> 00:00:14.980 For everyone, please make sure you like and subscribe. 00:00:15.960 --> 00:00:18.980 Jovanka and the team do an amazing job. My name 00:00:18.980 --> 00:00:22.160 is Dr. Lance Knob. I live in Medford, New Jersey, 00:00:22.280 --> 00:00:25.859 right between Philadelphia and the, quote, Jersey 00:00:25.859 --> 00:00:30.780 Shore. I think that's all you asked me, right? 00:00:31.399 --> 00:00:33.619 The name of your business. And I think you got 00:00:33.619 --> 00:00:37.619 a book out, don't you? Yes. The name of my business 00:00:37.619 --> 00:00:42.140 is Denali Consulting. And I'm a physical therapist 00:00:42.140 --> 00:00:45.119 by training and background. And our first business 00:00:45.119 --> 00:00:47.700 was Breakthrough Physical Therapy and Fitness. 00:00:48.640 --> 00:00:51.640 And that's all the lessons that I learned are 00:00:51.640 --> 00:00:54.880 really, I poured my heart and soul into my first 00:00:54.880 --> 00:00:59.479 book, The 4 % Breakthrough. to kind of share 00:00:59.479 --> 00:01:02.320 all that experience and journey. And I'm working 00:01:02.320 --> 00:01:04.420 on a second book right now, which you will probably 00:01:04.420 --> 00:01:08.719 talk about. Nice. Look at you. So a physical 00:01:08.719 --> 00:01:10.819 therapist, that's what you did for how long? 00:01:12.319 --> 00:01:18.200 Well, for, I was treating up until 2023. So 25 00:01:18.200 --> 00:01:22.019 years of patient care. Nice, nice. And now you're 00:01:22.019 --> 00:01:24.319 an author and you own a consulting business. 00:01:24.640 --> 00:01:27.140 Of course, I'm going to tell you to begin to 00:01:27.140 --> 00:01:30.719 share with me about all of this and where it's 00:01:30.719 --> 00:01:33.659 going and how it's going. Okay, well, it's all 00:01:33.659 --> 00:01:38.659 going well. I'm humbly blessed to have really 00:01:38.659 --> 00:01:40.599 created my dream life in a lot of ways, which 00:01:40.599 --> 00:01:43.599 ties into the podcast theme, because I really 00:01:43.599 --> 00:01:46.579 think having a clear vision helps with that. 00:01:46.680 --> 00:01:49.659 And I wish I would have. Spent more time and 00:01:49.659 --> 00:01:52.200 got more clarity sooner. One of my mentors who 00:01:52.200 --> 00:01:54.480 I talk about in the book, she always challenged 00:01:54.480 --> 00:01:59.379 me to draw my vision. And I did have a two -page 00:01:59.379 --> 00:02:03.799 vision for our company that really served as 00:02:03.799 --> 00:02:07.500 a roadmap and really clearly helped everyone 00:02:07.500 --> 00:02:09.479 know the expectations. So that was an amazing 00:02:09.479 --> 00:02:12.259 tool. So yeah, things are going really well now. 00:02:13.340 --> 00:02:16.500 You know, have so much freedom, lifestyle, geographic 00:02:16.500 --> 00:02:20.969 and financial freedom. And my wife and I are 00:02:20.969 --> 00:02:24.090 both physical therapists. We met in Aberdeen, 00:02:24.129 --> 00:02:29.409 Scotland. We lived and studied abroad and a little 00:02:29.409 --> 00:02:32.229 bit of a fairytale meeting. And we came back 00:02:32.229 --> 00:02:36.050 to the States, got married. And when we got back 00:02:36.050 --> 00:02:39.050 from our honeymoon, we actually jumped into entrepreneurship. 00:02:39.210 --> 00:02:41.509 We rented 300 square feet, very humble beginnings 00:02:41.509 --> 00:02:45.030 from a little boutique fitness center. And after 00:02:45.030 --> 00:02:46.409 about a year and a half, we bought the fitness 00:02:46.409 --> 00:02:49.340 center. And then We expanded next door to a 6 00:02:49.340 --> 00:02:52.400 ,000 square foot space, which is very large for 00:02:52.400 --> 00:02:55.080 physical therapy. And we really integrated fitness 00:02:55.080 --> 00:02:58.960 with physical therapy, which we believe is the 00:02:58.960 --> 00:03:02.740 perfect model to serve the world and serve customers. 00:03:02.979 --> 00:03:07.860 So we grew our practice and grew our family at 00:03:07.860 --> 00:03:09.840 the same time, which was a challenge. And by 00:03:09.840 --> 00:03:11.979 the way, I don't necessarily recommend immediately 00:03:11.979 --> 00:03:14.280 getting married and starting a business with 00:03:14.280 --> 00:03:17.860 your wife. It's not the... easiest initial path 00:03:17.860 --> 00:03:22.219 but um you know it it'll either make you or break 00:03:22.219 --> 00:03:24.319 you and for us it made us stronger so it was 00:03:24.319 --> 00:03:31.719 all good and yeah we we really you know tried 00:03:31.719 --> 00:03:34.259 to create the best business yeah we won the best 00:03:34.259 --> 00:03:38.300 practice in the country in um 2007 after three 00:03:38.300 --> 00:03:40.500 years in practice and you know so that was super 00:03:40.500 --> 00:03:43.360 exciting and i can remember going to san diego 00:03:43.360 --> 00:03:45.800 with our our daughter who is like nine months 00:03:45.800 --> 00:03:48.479 old in our arms to accept this award at the private 00:03:48.479 --> 00:03:51.219 practice section so that was pretty cool and 00:03:51.219 --> 00:03:53.379 then i studied partnerships and really wanted 00:03:53.379 --> 00:03:55.599 to create an opportunity that's not common in 00:03:55.599 --> 00:03:58.259 physical therapy where our best people could 00:03:58.259 --> 00:04:03.020 actually join as equity partners so we did that 00:04:03.020 --> 00:04:05.919 and some of our best people joined as partners 00:04:05.919 --> 00:04:10.340 and in 2018 well you know one of our partners 00:04:10.340 --> 00:04:12.379 took over our five location multi -million dollar 00:04:12.379 --> 00:04:16.120 practice and that's when i had to figure out 00:04:16.120 --> 00:04:19.959 what i was going to do next and after speaking 00:04:19.959 --> 00:04:22.139 to a franchise broker and kind of being on the 00:04:22.139 --> 00:04:26.399 the other side of of shark tank you know people 00:04:26.399 --> 00:04:29.379 were presenting me businesses and my wife um 00:04:29.379 --> 00:04:31.819 i realized i wanted i didn't i was too entrepreneurial 00:04:31.819 --> 00:04:34.240 to be a franchisee and i just wanted to help 00:04:34.240 --> 00:04:36.500 other entrepreneurs and share everything that 00:04:36.500 --> 00:04:38.779 i've learned so i've been doing that now hard 00:04:38.779 --> 00:04:41.040 to believe going into my eighth year now of coaching 00:04:41.040 --> 00:04:43.670 and serving others and i did take my treatment 00:04:43.670 --> 00:04:48.990 down over time and two other quick stories that 00:04:48.990 --> 00:04:54.750 are relevant the first one is you know when you 00:04:54.750 --> 00:04:59.149 really build up a valuable asset as a business 00:04:59.149 --> 00:05:02.689 there will be people attracted to it so we powered 00:05:02.689 --> 00:05:05.810 through the pandemic under our ceo our partner 00:05:05.810 --> 00:05:08.490 who's a ceo's leadership and you know we we made 00:05:08.490 --> 00:05:12.240 it and um At that time, there was a lot of investor 00:05:12.240 --> 00:05:14.279 money available in the world. A lot of people 00:05:14.279 --> 00:05:17.360 with the government printing money and doing 00:05:17.360 --> 00:05:20.139 all kinds of things to make it through. So long 00:05:20.139 --> 00:05:21.579 story short, a private equity -backed company 00:05:21.579 --> 00:05:24.279 approached us, and we ended up partnering with 00:05:24.279 --> 00:05:29.199 a private equity company. So it kind of deviated 00:05:29.199 --> 00:05:31.120 from my vision, which was to stay independent. 00:05:31.759 --> 00:05:34.149 So that was hard, but it's... It was a first 00:05:34.149 --> 00:05:37.290 world problem when private equity is trying to 00:05:37.290 --> 00:05:38.750 buy you and you don't necessarily want to sell 00:05:38.750 --> 00:05:40.610 and they just keep offering more and more and 00:05:40.610 --> 00:05:44.629 better and better. So that happened in 2021. 00:05:44.930 --> 00:05:48.029 And then 23 months later, they literally 5X'd 00:05:48.029 --> 00:05:51.829 our remaining shares. And it's what was called 00:05:51.829 --> 00:05:53.629 a recapitalization, the next private equity firm 00:05:53.629 --> 00:05:55.750 bought in. And the other story that I'll just 00:05:55.750 --> 00:06:01.730 mention along the way is in... 2011, when we 00:06:01.730 --> 00:06:03.709 had three offices, about 30 employees, and we 00:06:03.709 --> 00:06:07.310 just had our third child, I was working 80 plus 00:06:07.310 --> 00:06:10.589 hours a week, abusing my body, not sleeping enough, 00:06:10.810 --> 00:06:14.850 not exercising. And my body finally revolted 00:06:14.850 --> 00:06:18.209 and my digestive system stopped working. And 00:06:18.209 --> 00:06:22.709 I was brought to my knees. I couldn't. couldn't 00:06:22.709 --> 00:06:24.689 eat. I was either embarrassingly in the bathroom 00:06:24.689 --> 00:06:26.689 or running to the bathroom, had to see specialists, 00:06:26.970 --> 00:06:30.629 rule out cancer, celiac Crohn's disease. So fortunately, 00:06:30.829 --> 00:06:34.149 nothing was permanent and it was all temporary. 00:06:34.329 --> 00:06:38.290 And I had to get my lifestyle in a better place. 00:06:38.470 --> 00:06:40.350 And I also had to build the business in a better 00:06:40.350 --> 00:06:43.629 place. So that's what I did over the coming years. 00:06:44.230 --> 00:06:47.069 And that's really what I shared in that first 00:06:47.069 --> 00:06:50.560 book to help other people stay healthy. while 00:06:50.560 --> 00:06:53.439 they're scaling create a healthy business where 00:06:53.439 --> 00:06:55.220 they can get paid for the roles they have have 00:06:55.220 --> 00:06:57.620 profitability make it a valuable asset sell it 00:06:57.620 --> 00:06:59.459 if they want to keep it if they want to which 00:06:59.459 --> 00:07:01.920 is my second book how to create partnerships 00:07:01.920 --> 00:07:06.420 to actually build a self -managing business how 00:07:06.420 --> 00:07:08.399 did you come up with you know what i'm just going 00:07:08.399 --> 00:07:12.680 to go into consulting yeah as i mentioned i i 00:07:12.680 --> 00:07:14.699 knew i wanted to diversify from a small business 00:07:14.699 --> 00:07:18.709 you know we had all of our you know, life savings 00:07:18.709 --> 00:07:22.689 in this small business. And it was scary and 00:07:22.689 --> 00:07:25.209 exciting to have somebody else driving, you know, 00:07:25.230 --> 00:07:29.550 the, being the captain of the ship. But they 00:07:29.550 --> 00:07:31.470 had my full confidence and I was still supporting 00:07:31.470 --> 00:07:35.509 them in the owner hat. So, you know, once I realized 00:07:35.509 --> 00:07:39.269 that franchise wasn't the perfect world for me, 00:07:39.430 --> 00:07:44.629 you know, I wanted to be, do it my way, do it 00:07:44.629 --> 00:07:48.199 a smarter way this time. Even at that time, pre 00:07:48.199 --> 00:07:51.699 -pandemic, you could still do some coaching virtually. 00:07:52.540 --> 00:07:54.819 Definitely, I wanted to create more geographic 00:07:54.819 --> 00:07:59.579 freedom, lifestyle freedom, and continue to have 00:07:59.579 --> 00:08:02.959 the finances to also be free to do anything I 00:08:02.959 --> 00:08:06.839 want with who I want, and especially the most 00:08:06.839 --> 00:08:08.740 important people, which had a lot of sacrifice 00:08:08.740 --> 00:08:14.129 over the years, my family, myself. So yeah, those 00:08:14.129 --> 00:08:15.610 were some of the bigger things and thinking about 00:08:15.610 --> 00:08:17.949 it because, you know, one of the good things 00:08:17.949 --> 00:08:20.029 that came out of the pandemic was that, you know, 00:08:20.029 --> 00:08:22.810 video conference became the norm. So I have zero 00:08:22.810 --> 00:08:25.529 travel except for when I want to see somebody 00:08:25.529 --> 00:08:28.329 in person. Last night we had a celebration dinner 00:08:28.329 --> 00:08:31.350 in Princeton, New Jersey with two amazing entrepreneurs 00:08:31.350 --> 00:08:34.190 who I just helped bring together to create a 00:08:34.190 --> 00:08:38.590 self -managing company. In Ben Hardy's words, 00:08:38.789 --> 00:08:42.110 they're each other's perfect who's. One of them 00:08:42.110 --> 00:08:44.470 is going to take over the CEO and it's pretty 00:08:44.470 --> 00:08:48.590 amazing. But besides that, I don't have to spend 00:08:48.590 --> 00:08:51.809 hours flying and traveling and driving and sitting 00:08:51.809 --> 00:08:54.549 in traffic and all those things. Tell me about 00:08:54.549 --> 00:08:58.909 your vision in this era of your life. For sure. 00:08:59.850 --> 00:09:02.250 Yeah. And this is something I really love to 00:09:02.250 --> 00:09:04.610 do because I love... strategy. I was telling 00:09:04.610 --> 00:09:08.330 Jennifer on your team this yesterday. I realized 00:09:08.330 --> 00:09:11.129 that it's about the same number of entrepreneurs 00:09:11.129 --> 00:09:15.490 who, about 96 % of entrepreneurs fail in 10 years. 00:09:15.809 --> 00:09:18.490 And my survey now over seven and a half years 00:09:18.490 --> 00:09:21.129 has been, it's about that same number of entrepreneurs 00:09:21.129 --> 00:09:23.990 that don't have a plan in place. And I really 00:09:23.990 --> 00:09:27.289 was fortunate enough to be mentored in strategic 00:09:27.289 --> 00:09:31.059 planning and business planning. we called it 00:09:31.059 --> 00:09:33.200 a marketing business plan we brought the marketing 00:09:33.200 --> 00:09:36.519 plan together with the finances and i helped 00:09:36.519 --> 00:09:39.039 boil that down because i realized the typical 00:09:39.039 --> 00:09:41.000 entrepreneur doesn't have enough time to spend 00:09:41.000 --> 00:09:46.240 80 to 120 and plus hours on it so i'm asking 00:09:46.240 --> 00:09:48.139 people they're you know trying to draw visions 00:09:48.139 --> 00:09:49.919 out of people all day long that's part of my 00:09:49.919 --> 00:09:53.840 passion as well so i've got the business vision 00:09:53.840 --> 00:09:56.440 which i'll share with you now and then i'll i 00:09:56.440 --> 00:10:02.200 always Love to help people with their bucket 00:10:02.200 --> 00:10:04.379 list and philanthropy, how they want to give 00:10:04.379 --> 00:10:08.840 back to have fulfillment. So with Denali, my 00:10:08.840 --> 00:10:13.100 dream vision is for my children to actually take 00:10:13.100 --> 00:10:17.620 it over. And they're 18, 16, and 14 now. And 00:10:17.620 --> 00:10:21.159 my oldest daughter is heading towards business 00:10:21.159 --> 00:10:25.539 school. And yeah, they're all becoming more gravitated 00:10:25.539 --> 00:10:28.639 towards entrepreneurship. uh so that's exciting 00:10:28.639 --> 00:10:30.980 and i've certainly been pouring into them so 00:10:30.980 --> 00:10:32.559 that would be a wonderful outcome and if they 00:10:32.559 --> 00:10:34.980 don't and they're by the way they're working 00:10:34.980 --> 00:10:36.679 for the business now for the last two years they've 00:10:36.679 --> 00:10:39.259 been helping with marketing so for everyone out 00:10:39.259 --> 00:10:41.279 there definitely get your kids involved there's 00:10:41.279 --> 00:10:44.100 a lot of benefits to that including you know 00:10:44.100 --> 00:10:47.960 tax uh you know benefits you can use your children 00:10:47.960 --> 00:10:50.740 as write -offs and then put some of that money 00:10:50.740 --> 00:10:54.259 straight into a roth ira so that's the real dream 00:10:54.259 --> 00:10:59.289 with denali and In addition to that, and I've 00:10:59.289 --> 00:11:02.870 kind of paused on this, but I want to build a 00:11:02.870 --> 00:11:08.009 team of 10 consultants and really just serve 00:11:08.009 --> 00:11:10.970 more entrepreneurs and reverse this 96 % failure 00:11:10.970 --> 00:11:15.480 rate to make it a 96 % success rate. So, and 00:11:15.480 --> 00:11:17.519 then, you know, other than that, you know, my 00:11:17.519 --> 00:11:20.580 wife and I both love to travel. So I really want 00:11:20.580 --> 00:11:22.460 to at least minimally, I want to become fluent 00:11:22.460 --> 00:11:25.200 in Spanish and Italian. I want to live six months 00:11:25.200 --> 00:11:27.940 of the year in Spain and Italy and just keep 00:11:27.940 --> 00:11:30.179 rotating and maybe half of that time in gorgeous 00:11:30.179 --> 00:11:33.200 places like Boulder, Colorado, but just keep 00:11:33.200 --> 00:11:36.539 exploring. We're both really explorers. And as 00:11:36.539 --> 00:11:39.259 far as like philanthropy and kind of giving back 00:11:39.259 --> 00:11:44.820 so many causes that are worthwhile. But our youngest 00:11:44.820 --> 00:11:47.059 daughter just got type one diabetes last year. 00:11:47.120 --> 00:11:48.600 So that would be something that I'd really want 00:11:48.600 --> 00:11:55.320 to address and try to solve. Yeah. Yeah. I mean, 00:11:55.320 --> 00:11:59.299 that sounds like a lot, but you've made many, 00:12:00.059 --> 00:12:05.039 many, many different times in life. I mean, and 00:12:05.039 --> 00:12:09.549 again, I. I applaud you, you know, for what it's 00:12:09.549 --> 00:12:12.149 worth. I'm super proud of you because there's 00:12:12.149 --> 00:12:14.789 not many people that can last 25 years. Right 00:12:14.789 --> 00:12:17.370 now, I think I'm all over the place as far as 00:12:17.370 --> 00:12:20.350 entrepreneurship and what that looks like. But 00:12:20.350 --> 00:12:23.929 most importantly, I really, as I'm sitting here, 00:12:24.009 --> 00:12:28.409 I didn't share with you earlier that I too am 00:12:28.409 --> 00:12:31.350 a listener. And as I'm listening, one thing I 00:12:31.350 --> 00:12:34.500 hear you say is strategy. you know there's a 00:12:34.500 --> 00:12:38.019 system to everything and i believe maybe is that 00:12:38.019 --> 00:12:41.740 a portion of why some people don't go as long 00:12:41.740 --> 00:12:44.220 as you because they don't know the strategy to 00:12:44.220 --> 00:12:48.799 staying afloat i believe so i believe that's 00:12:48.799 --> 00:12:51.360 part of the critical success factor part of our 00:12:51.360 --> 00:12:55.639 secret sauce and it doesn't for everyone listening 00:12:55.639 --> 00:12:59.000 right even like the term business plan is despised 00:12:59.000 --> 00:13:02.549 by many um I don't think you have to spend a 00:13:02.549 --> 00:13:04.389 hundred percent of your time doing strategy. 00:13:04.549 --> 00:13:05.870 Obviously you have to roll up your sleeves and 00:13:05.870 --> 00:13:08.549 do the work. I really think it only needs to 00:13:08.549 --> 00:13:11.909 be about 10%, 10 % of you really back up and 00:13:11.909 --> 00:13:15.049 do a vision, you know, only 10 % of your time. 00:13:15.070 --> 00:13:17.450 And then you can back that into a year and a 00:13:17.450 --> 00:13:20.450 month and a week and a day. And I just saw the 00:13:20.450 --> 00:13:24.509 most powerful social media posts by Kevin O 'Leary, 00:13:24.590 --> 00:13:26.529 Mr. Wonderful from Shark Tank. And he was speaking 00:13:26.529 --> 00:13:29.789 about when he worked with Steve Jobs. And he 00:13:29.789 --> 00:13:33.710 said that one of the things that made Steve special 00:13:33.710 --> 00:13:37.970 was his signal to noise ratio. He knew his three 00:13:37.970 --> 00:13:39.470 things that he would have to get done in the 00:13:39.470 --> 00:13:42.629 next 18 hours and everything else was noise. 00:13:43.210 --> 00:13:47.090 And he made sure he had an 80 % signal to noise 00:13:47.090 --> 00:13:51.710 ratio. So yeah, that's what strategy is. Some 00:13:51.710 --> 00:13:53.509 of the smartest minds say it's knowing what not 00:13:53.509 --> 00:13:56.690 to do. So you really do have to just take a little 00:13:56.690 --> 00:13:59.960 bit of time. to do some high level thinking do 00:13:59.960 --> 00:14:02.039 some strategic thinking make sure you're not 00:14:02.039 --> 00:14:04.220 running in the wrong direction climbing the wrong 00:14:04.220 --> 00:14:07.000 ladder whichever analogy you like to use and 00:14:07.000 --> 00:14:09.320 then of course it is a scientific experiment 00:14:09.320 --> 00:14:11.580 you're going to have to test and retest you're 00:14:11.580 --> 00:14:13.779 not going to get it all right the first time 00:14:13.779 --> 00:14:17.580 around but the quicker you can be a little bit 00:14:17.580 --> 00:14:20.230 strategic run the test get the results then you 00:14:20.230 --> 00:14:23.110 will actually lead your industry, which is where 00:14:23.110 --> 00:14:24.929 you need to be. Because if you're not leading 00:14:24.929 --> 00:14:26.629 your industry, other people are more profitable. 00:14:26.690 --> 00:14:28.730 And unfortunately, they're going to be ahead 00:14:28.730 --> 00:14:31.580 and probably win. Thank you for being here today. 00:14:31.759 --> 00:14:33.519 I'm really happy that you tuned in to Vision 00:14:33.519 --> 00:14:36.159 Pros Live. I'm looking forward to seeing your 00:14:36.159 --> 00:14:38.960 reactions as these episodes continue to move 00:14:38.960 --> 00:14:40.899 forward. This is going to get more and more fun. 00:14:40.919 --> 00:14:42.779 We'll have more and more engagement as well. 00:14:42.820 --> 00:14:44.720 We'll invite people to participate in the show. 00:14:44.860 --> 00:14:46.899 And thank you for giving us your time and attention. 00:14:47.159 --> 00:14:49.820 Have an excellent time building out your vision 00:14:49.820 --> 00:14:51.220 and becoming a vision pro yourself.