March 17, 2025 • 45 mins
The Four Essential Steps to Presenting Money to Today's Consumer (Receive $100 OFF when using promo code: cash flow) https://npguniversity.samcart.com/products/money
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Iconic Event - Transform your Life, Career & Business at: https://newpatientgroup.com/npg-iconic/
Today's episode:
Cash is king, but timing is everything. In this eye-opening episode, Brian Wright (with a face swollen from an unexpected shrimp allergy) delivers a masterclass on why cash now is always more valuable than cash tomorrow – and provides three game-changing strategies to boost your immediate cash flow.
Most entrepreneurs and business owners take a reactive approach to cash management, only seeking funding when they're already desperate. Brian flips this conventional wisdom on its head, explaining why securing loans when your business is thriving puts you in a position of strength rather than vulnerability. Not only will you get better terms, but the psychological benefits of having healthy cash reserves will actually help you perform better as a leader, making it a win-win financial strategy.
The episode dives deep into a brilliant refinancing strategy that can transform your cash position overnight by working with existing customers. By helping your customers lower their monthly payments while simultaneously putting cash in your bank account within days, you create value for both parties. Brian provides tactical advice on how to present these offers effectively using consensus and proper framing to drive acceptance.
Finally, Brian challenges listeners to rethink their approach to paid-in-full discounts. He explains why $6,000 today can actually be more valuable than $7,000 spread over 18 months, especially considering inflation and opportunity costs. This counterintuitive approach to pricing demonstrates why sometimes you need to "stop tripping over dollars to pick up pennies" – particularly when cash flow matters most.
Whether you're currently struggling with cash flow or enjoying healthy financial reserves, these proactive strategies will help safeguard your business against future uncertainty. Because as Brian wisely reminds us, none of us knows what our businesses will face six months from now – which is precisely why being proactive about cash flow today is so critical for tomorrow's success.
Ready to transform your approach to business finances? Subscribe to the podcast and check out Brian's new on-demand course on presenting money effectively to today's consumer.
This podcast is dedicated to helping those that want to get more out their life, career and/or business (practice). The topics discussed on this podcast are leadership, culture, sales, new patients, new customers, marketing, and so much more.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
YouTube followers.
Listen up very, very closelybecause you're probably scared
looking at me going.
What in the world happened tothis guy's face?
Guys, it's all good, had ashrimp allergy.
I took some sushi, or ate somesushi.
They told me shrimp was not init.
It was supposed to be crab.
No, I'm not allergic toshellfish, it's just shrimp.
(00:22):
For whatever reason, anybodyhas answers to that out there.
Please let me know, becauseI've been searching for them my
entire life.
Well, some shrimp got in there.
It was fresh, wasn't cooked.
I don't know if I have aproblem with cooked I've never
eaten cooked, but fresh I suredo.
I have different things thathappen and it's been a long time
.
Well, this time my face swelledup like a good year blip.
(00:42):
It is bright red like I gotburnt from the sun.
I am swelled up all over theplace and I wanted to make sure
all of you out there, especiallythose that are seeing me for
the very first time, understandthis is not how I look all the
time.
So I just wanted to clear thatup for everybody who are
watching Audio experiencelisteners out there.
If you're intrigued, go checkit out.
(01:03):
If not, just listen and you'llbe good.
But hey, everybody, welcomeinside the studio and today,
listen very closely.
Cash now is always moreimportant than cash tomorrow.
It's always more powerful.
It's always worth more thancash.
Tomorrow, you may be somebodyout there that's in dire straits
.
Your business may be new,you're looking for it.
(01:25):
You may be 30 years old in yourbusiness and you're struggling
and you're saying, okay, how canI use some really cool,
innovative ways to build my cashflow now?
We doing everything in ourpower to get it.
But oftentimes when we have it,we relax a little bit, right.
(01:47):
It makes us feel good.
Maybe your anxiety goes down.
I'm going to talk about thattoday here, a little bit on what
it does for me when we havecash flow versus maybe we're
struggling with it for whateverreason.
So, regardless of where you arein your business journey, if
you need it desperately oryou're ahead and you already
have it, don't get relaxed right.
Don't be reactive wheneveryou're looking for cash flow.
(02:09):
Be proactive, and that's whatwe're going to be talking about
today is three proactivestrategies and you're going to
like these.
That is going to increase yourcash flow both in your business,
but also we're going toreference back on how you can do
the same type strategy, thesame thinking, the same
proactive mindset that businessowners, entrepreneurs, have out
(02:29):
there, how you can do this inyour personal life, if maybe
you're an employee listening outthere, or whatever.
It may be Really good one foryou today.
That, I think, is going to helpa lot.
Also, and I said this on thelast podcast we now have an
official launch date of therebrand of the new patient group
podcast.
We are going to be rebrandingit into the Brian Wright show.
The first episode that's goingto be coming out in May.
(02:51):
First business day of May iswhen we always release that
first episode.
Just to let everybody know, incase you don't out there, it's
going to be rebranding to theBrian Wright show.
Now you don't have to doanything.
The last podcast episode makesure you go out and check that.
Go check that out, because I goin depth more about that than
I'm going to do today.
But we're rebranding it for alot of reasons.
(03:13):
One, the rebrand is going tohappen within our current
hosting company, so just thename of the podcast is going to
change.
If you're already downloading,you're already a subscriber.
There isn't anything you needto do other than look for the
new name that comes up in yourpodcast feed.
Okay, don't worry about goingto a different channel and a new
subscription downloads nothing.
It's just going to come up asit normally is.
It's just going to be under asame name.
(03:34):
If this is new to you and you'remaybe checking in for the first
time, I referenced this more inthe last episode.
Like I just said this more inthe last episode.
Like I just said, but thereason we're rebranding is look,
we help.
Our message help businesses andentrepreneurs and really
anybody that wants to transformlife, career and or business.
Our message is for all thoseout there If you're somebody
that wants to get more out ofyour life, career and or
(03:57):
business, our message resonates.
Our expertise is used bycompanies all over the world.
Our niche, however, startingmany years ago, we found a niche
in orthodontics, dentistry,other healthcare professions,
because the stuff we teachleadership, sales, hospitality,
verbiage, consumer psychology,experience, etc.
(04:18):
Etc.
Etc, etc.
It applies to any type ofbusiness, but that niche is
because if somebody types inbraces or Invisalign on Google
as an example, boom.
You have 10 options, whichautomatically puts you into the
people first business nodifferent than a hotel, a
restaurant and every otherentrepreneur's business on the
planet.
(04:39):
A lot of cool new episodescoming out.
It's going to just get betterfor all of you, but it's also
going to challenge you, likewe've always done on here.
It's going to challenge you,challenge you, challenge you so
you do get the most out of yourlife, career, business.
So, before we start today withthis good three proactive
strategies to increase cash flowin your life and your business,
(04:59):
let's go ahead and fire up thenew upcoming music.
Once we make the officialchange, you're going to get a
new intro to this.
Speaker 2 (05:11):
Let's go ahead and fire it up now and we'll see you
on the other side.
Welcome to the Brian WrightShow Audio Experience, a podcast
dedicated to transforming lives, careers and businesses, and
now your host.
He's a husband, father of two,an international business and
life coach, the founder and CEOof New Patient Group and Right
(05:32):
Chat, and a consultant andglobal speaker for some of the
finest companies in the world,such as Invisalign and many
others.
Speaker 1 (05:41):
Now here's your host, brian Wright.
It's double your new customersOvernight by mastering this.
(06:03):
One skill was our topic andhave a lot of you out there.
You know you've jumped this,you've already seen it work.
You've already got some startsfrom it, some sales from it.
Very proud of you.
You know almost anything inlife.
All of you have to remember andthere's exceptions to
everything but almost anythingin life, your career and or your
business out there, the bestway to go about anything is
(06:24):
implementing it faster thaneverybody else.
Not perfecting it, not evenbeing good at it, just doing it.
Be a doer.
If you have an idea, go do it.
If you're scared of something,overcome it by going and doing
it.
Much easier said than done, butsome of you on the mastermind
and right after right, you jumpto it and boom, you added sales.
You jump to it and boom, youadded sales, you added revenue
to the business and eventuallythose people are going to become
(06:45):
a referral stream thatotherwise never would.
So very, very proud of you.
Have our upcoming in-personsession in Scottsdale, looking
forward to seeing all thecustomers out there and spouses
and we're going to go for athree-day blast like we always
do.
We're going to have new faces,as we always do, as as some
familiar ones.
So can't wait to see everybodyat our upcoming in-person event
(07:07):
in scottsdale, arizona.
And awesome that we have ourupcoming march iconic.
March 27th through the 29thwe're going to be having people
fly in all over the country toour training, our training
facility here, and it's our veryfirst iconic ever dedicated at
the clinical assistance outthere.
You know it can be so easilylost by all of you understanding
(07:28):
that 90% of what an assistantdoes for you is non-clinical
their communications, theirsales abilities, handling tough
conversations when a kid isn'tcompliant but the parent thinks
the kid can do no wrong.
How they greet, startappointments, how they interact
with each other.
There's so many things thatthey do and there's really no
event.
There's no event like Iconic inexistence period, certainly not
(07:52):
an event like this Target atAssistance.
And then October everybody andwhen the landing page is ready
we're going to be putting itdown in the description below
we're going to have our fullteam event, october Iconic, here
at our training facility inColorado Springs.
It is going to be unbelievableand we're looking forward to
packing the house.
We already have verbalcommitments and registration
(08:14):
will be opening once this Iconicgets finished and we move into
April, registration officiallywill open on our website shortly
thereafter.
So look for the first week,second week, that kind of thing
in April.
A lot of amazing, amazingthings going on and so blessed
all of you out there who arecustomers and being a part of
our family means the world asyou know it does Today.
(08:36):
Diving into a topic like wetalked about in the intro three
proactive strategies to increasecashflow in your life and your
business and I was walking tothe other day my family, we were
in downtown Manitou and Manitouis basic.
It's right outside of ColoradoSprings, it's basically Colorado
Springs and it's beautiful, soit's at the base of the
(08:56):
mountains, really neat, eclecticdowntown and we're walking
around downtown with withKristen and the kids and we come
across this, this olive tap tapwhich we get our olive oil
there, and I trust it.
If you've never seen theNetflix documentary on what the
mob has done to the olive oilsall over the world and
especially here in the UnitedStates, it's a really cool
(09:19):
documentary.
It's also scary Like themajority of the olive oils here
on the shelves in America aretainted with canola oils, fake
stuff, lubricants, a bunch ofdifferent stuff.
It's a very interestingdocumentary.
So you know we're very healthconscious, so you know we want
to make sure we're getting a lotof olive oil.
It's very good for you andanyway.
So the olive tap is a place thatwe trust, so we're going in
(09:41):
there to get some more olive oilrunning low.
And there's this table set upoutside and there's this husband
and wife who now listen to thepodcast.
So I'm going to give you a freeshout out here and some free
publicity, because I believe infamily owned businesses and I
want you to succeed and Iappreciate you now subscribing
and listening to the podcast andthis is why I know us
(10:01):
rebranding the podcast to theBrian Wright show is so powerful
and it's the right thing to dobecause, as we're going to the
olive tap, they had a boost setup out there and they're giving
away some.
You know some free breads andthings like that and they're
beautiful that you know only afew ingredients, which is all
you need.
You look at the bread in thestore as like 90 and it should
be legal.
A lot of the ingredients areillegal in countries all over
the world except for here, sowe're looking at that.
(10:24):
You know we buy some bread, weget into some some business
discussions and, and I thinkwhat we talked about is going to
help them and certainly thispodcast is going to help them
and you know, helping helpingbusinesses all over the world
for so many years.
I'm really pumped to still haveour niche.
Our niche will always be whatit is, but just open ourselves
up to to more listeners, abroader audience and bringing in
(10:47):
more guests.
Matter of fact, the founder ofCisco reached out to me via
email and I think I'm going tohave him on, and that's what I'm
talking about Just reallypushing all of you out of your
boundaries by having some morepodcasts with guests that come
from outside your world, yourindustry, and just again heading
back to transforming businesses, transforming lives and careers
(11:07):
, and obviously we're verypassionate about it.
And if you go to Instagram andgo to lakes underscore bakes,
follow them.
All right, let's build thatfamily-owned business with
organic breads.
Let's build their Instagram andI want to give them a free
shout out again lakes underscorebakes, follow them, order some
(11:27):
stuff from them and, and I hopeyou guys do really well.
It was a pleasure talking toyou and I hope you take my
advice.
Hopefully it helps and as youcontinue to listen to this
podcast, as it's helpedthousands upon thousands all
over the world, it's going tohelp you too.
Let's dive in today, guys.
The very first one if you're abrand new business and this is
the part of going out andseeking cash flow that can be
(11:50):
hard is that oftentimes, whenyou need it, you can't get it.
If you show a bank, hey, we'redeclining, our revenue is going
down, or I don't have anyrevenue, or I do have revenue,
we're only even in business ayear and a half.
Banks are in business to makemoney, obviously, so they are
going to measure their risk andcalculate whether or not it's
worth it and things like that.
(12:11):
So when you need it, the mostoftentimes you can't get it,
which that in itself is why youalways want to be proactive.
It's a very bad way of lookingat it, going, hey, I don't need
a loan right now as an example,so therefore I'm not going to go
get it.
Bad, bad way of thinking aboutit needs to be reversed.
So this may number one may ormay not help you, but the very
(12:32):
first one is when you go out andseek business loans.
Many of you out there, like Ijust said, you go out and seek
business loans when it's needed,and that's the mindset that I
want you to change today is, ifyou're a business that is doing
well, you're happy with yourcash flow, your sales are good,
they're on the up, the revenueis on the ongoing up and up and
(12:52):
up and your business is healthy,that is when you go out and you
get a business loan.
That is the opposite of how somany of you out there think,
just in general.
I mean, we are reactive animals, as is you know.
We we get overweight, we try tolose weight, we lose money, we
try to make money.
Our marriage goes to hell, sotherefore, we seek counseling to
(13:13):
try to improve it.
Right.
How many people have a marriagecounselor when their marriage
is going really well?
Not many.
How many people work out andpush themselves to stay in shape
and are always looking for thenext workout to do, to
constantly be shaking up theirbody before they need to?
Not many.
So this is one of the reasons ofmany why many of you out there
(13:36):
are reactive business owners andwhy you need to change that way
of thinking as it relates todayobviously in many different
ways.
But, as it relates today'sepisode is, you need to change
that way of thinking with yourbusiness loans, because if
you're somebody that has healthycash flow and your business is
doing really well, I am teachingyou to go out and get one, for
(13:57):
a couple reasons.
The second one isnon-statistical.
It's going to be more of ahealth reason that I'm going to
describe to you all the way Ilook at it and how it helps me.
The first one is obvious right,you're going to get a better
interest rate.
You're going to get probablymore money than you would ever
dream of even needing andtherefore the cash flow you have
(14:18):
will be able to double, to beable to triple, and therefore
and this is the mistake so manyof you out there are going well,
I don't need one as it standstoday, yeah, but tell me what
tomorrow looks like.
Tell me what six months fromnow looks like.
A year, two years from now,what does that look like?
And none of you know, no matterhow good you're doing today, no
matter how bad you might bedoing today, things could flip
(14:38):
and the person that's strugglingtoday could be outproducing
somebody that's doing greatright now, but then they start
struggling in a year, this couldflip, and what you don't want
to do is go seek that loan whenthe shit hits the fan, and that
is what so many of you out thereunfortunately do with your
businesses in general.
Right, you wait to your newcustomers, your new patients are
(14:59):
dropping and you go out thereand you try to fix the problem.
Your conversion, your salesconversions going down you go
out there and you try to fix theproblem.
No, when you try to fix thoseproblems is when you're doing
well, right, hey, my conversionis up.
What can we do to make sure itstays there and continually goes
up?
Well, you've got to innovate.
You've got to install change inyour culture.
(15:20):
You've got to also beconsistent and repetitive with
what you've worked on in thepast.
Where those skill sets don't godown, right.
So you've got to be proactive,just like you have to be
proactive with your businessloans.
And it's hard.
Like you may be going hey, Idon't need it.
So I'm really going to take a3% or 7% hit on interest.
My answer is absolutely right.
You can either do that and goinvest it, and this is the same
(15:41):
way in your personal life.
Right, this is going to be thesmaller portion of the
conversation today, but ifyou're taking home good money
and you're happy with yourincome, that is when you go out
and get a personal loan in yourlife.
Right, because you don't reallyneed the money.
You can go out and invest inmoney.
Invest in that or use thatmoney to invest and get a larger
return back than the interestrate you're paying back for
(16:04):
loans.
You know to invest and get alarger return back than the
interest rate you're paying backfor loans.
You know, a very common trait ofbillionaires and people of the
ultra, ultra wealthy is they usedebt to build wealth.
Many of you out there mayfollow Dave Ramsey and I, as an
entrepreneur, disagreewholeheartedly with everything
he teaches.
I do not agree with any of it.
And if you can look at thebillionaires, the ultra wealthy
maybe they're not billionaires,but they're ultra wealthy they
(16:27):
are consistently using debt tobuild wealth.
They'll take a $100,000 loanand they'll go invest the
$100,000 and get a 20% returnwhen they're only paying back 5%
on the 100,000 to the loan.
You see how that works, right?
You just made 15% that youotherwise couldn't have made if
you didn't have that $100,000loan.
They are constantly takingloans against their business,
(16:48):
constantly taking loans againstthings in their personal life,
and they're going and investingin that money.
So, again, they're beingextremely proactive about it.
And as an entrepreneur and thisis why I encourage most of you
out there, with exceptions like,is paying things in full a bad
thing?
No, it's not a bad thing.
It's not that I say like DaveRamsey is an idiot, doesn't know
what he's talking about.
(17:08):
No, his philosophy applies to alot of people out there.
If you're not an entrepreneur,it does make sense to pay things
down or pay things off.
If you're an entrepreneur, itdoesn't, because a lot of those
things are deductions that saveyou on tax dollars at the end of
the year.
But back to the first point.
Look for business loans in yourpersonal or in your business
(17:31):
life, and also, again, forpersonal loans in your personal
life when things are going well.
Now, that may not help you.
If you're a brand new business,you may be seeking a loan.
You can't get it yet, or abusiness that right now is today
, is struggling.
So some of these number two andthree is gonna help you there,
but one may or may not help you.
But for many of you out therewho are doing well, seek, and
(17:53):
again, you don't have to becrushing it right.
So even if you're doing okay,right and you can show the bank
some positivity that they canlook at and go, look, we can
take this is worth the risk, goout there and look for the loan
and put that money in yourpocket.
Now, way two of way one.
(18:13):
A minute ago I said there's kindof two reasons or two ways that
I look at this.
First one that I'm talkingabout.
The other one's kind of anon-statistical thing.
So I feel I do a much betterjob for all of you out there
when our cash flow is good.
So if I do this podcast today,one of my companies, new Patient
Group, another company, rightChat.
I have others when the cashflow is great in those
(18:34):
businesses, my anxiety drops, Isleep better, my mind functions
better, I feel better, I feelmore healthy and I get behind
the mic or on stage or onnon-demand course or in some of
your businesses, whatever it maybe, and I believe I perform
better because those things arenot on my mind.
And that's one of those thingsagain, that getting a loan for
(18:58):
me because I perform better, weend up making more sales because
of it, we keep people longerbecause of it, the experience of
our customers is better becauseof it, things like that.
So that's one of thoseoff-paper things that, for me,
always makes it worth it.
Because even if you're payingback let's say 8% and $100,000,
(19:18):
just using that as a simpleexample but even if that's what
you're doing and you don'tnecessarily need the cash and
let's say it just sits there andyou never use it a lot of
people would be like, well, youjust lost money and in the
scheme of things, you're right.
But if it makes you feel theway I just described, the money
you lost, you're going to morethan make up by your business
(19:38):
just simply performing.
Well, if you're struggling withcash flow and you wonder if
you're going to be aroundtomorrow, it is really, really
difficult to then go do your joband be a great chef, be a great
clinician, be a greatmotivational person, business
life coach like myself.
It's very, very difficult to dothat at the same level.
So you see how that works.
Right, by doing it at a higherlevel, you can make that 8% that
(20:02):
you lost back, because you'regoing to be better, you're going
to make more sales, add morerevenue things like that to the
company.
So those are a couple ofreasons.
Be proactive, and a lot of timesagain.
If it's going to help youproduce better, like I just
described, it may be worth it initself.
But, main thing, if you'regoing to take the loan, you want
to have a reason to go use it,hire somebody, invest in
(20:24):
something.
You want to have somethingwhere you can go and use the
money that produces a largerreturn back than the interest
rate that you're going to paythe bank Anytime that that's the
case, the loan makes sense.
You all have to make your owndecisions Sometimes.
(20:54):
This is the way it was in thebeginning with New Patient Group
.
I begged people to pay in fullback then like $50,000 a year
service and be like please, canyou pay?
I'll give you anything.
Take $25,000 off of look, okay,we can live for a couple months
, we can have a business for awhile, and obviously you're not
going to do that the more maturethat you get and I'm going to
talk about that concept a littlebit more here when we get to
number three today.
So be proactive with your loans.
Everybody, very, very important.
And if you don't have anythinglike.
(21:15):
You don't need it, there'snothing you plan on investing.
You have to make the decision.
Does it make sense for you?
But I will again tell you justbecause you don't need the money
today or don't have anything toinvest or don't know what to
invest in, whatever it may be,it doesn't mean in six months
you're not going to be indesperate need of that money for
whatever reason.
Just keep that in mind.
(21:36):
Be proactive, because themoment you need it, you're going
to get a worse loan, not asmuch money, a worst interest
rate.
Do you see how all that works?
Be proactive with your loans.
Number two, and this issomething that we did with a lot
of you out there during COVIDand our customers rocked it.
During COVID, I saw a lot ofpeople struggling out there, our
(21:57):
practices and our businesses.
They really really did well,and New Patient Group did really
really well.
That was.
I was doing a ton of speakingon webinars.
Everyone was just stuck at home, and it's really when we
started, even though we had beenaround a long time leading up
to that.
That's really when we startedgetting more and more known in
our niche area, and we didreally well too.
That's really when we startedgetting more and more known in
(22:17):
our niche area, and we didreally well too.
But one of the things that Iwant to talk about now is
something that I think is reallyinnovative, and it's not
something that your customers,your patients out there, are
going to come to you and go hey,is this an option?
I need it.
This is kind of like one ofthose things where if you want
more Google reviews, you have toask for them.
If you want more videotestimonials, you have to ask
(22:41):
for them.
It drives me nuts.
You could go in and out of athousand restaurants and the
waiters never ask.
It's just asinine, right?
It should be part of and forthe restaurants we work with.
This is part of the program istraining the waiters how to ask,
when to ask, to make sureyou're getting video
testimonials from the tables,five-star reviews from the
tables, things like that butnobody's walking into your
business, going.
Can I please give you a videotestimonial?
(23:02):
Right, you have to ask withintent, and when you do that,
you're going to build your videotestimonials and have a better
YouTube station and a betterdigital presence.
But you have to ask.
If you don't ask, you're goingto lose thousands of
opportunities over the course ofyour existence.
Number two is kind of the sameway that I'm getting into.
Is that one of the things thatwe worked with with businesses
(23:26):
then and we continue to do thisand this is especially if you
really need cash.
You're like, hey, brian, I needit, how the hell do I get it
now?
And the bank loan may or maynot be the way to go if you're
really struggling and you needit, like I need the money
tomorrow morning or I have areal problem here.
But this also again goes backto if you're successful, your
(23:47):
cash flow is great.
This matters a lot too, becauseyou don't know if your cash
flow is going to be great in sixmonths.
You never, never know.
So if you go and you look at andI'm going to make up let's say
you have a hundred.
Let's say you have 300 patients, 300 customers, whatever
business you have out there, andthey're and they're making
payments to your business.
(24:07):
You have an in-house paymentplan, right, so they're not
financed outside of yourbusiness.
And let's say you have 300.
If you go, look at the balancesof those 300, start with ones
that are making payments andlet's say they're making
payments for a year and a half.
That's your baseline.
And again, your baseline couldbe two years.
It could be a year.
I'm using a year and a half.
Go and look at the balancesremaining.
(24:29):
Maybe that leaves 150 patients,customers, whatever, that are
paying you that are a year and ahalf in.
They've got whatever a yearleft, six months left, whatever
it is.
Go in there and every single oneof them reach out to them and
ask if they would like torefinance their remainder and
(24:49):
they can extend out as long as60 months through a care credit
and for payments as low as Now.
How you do this?
For those of you that are inthe ortho world, dental world,
our niche is that if you go toCareCredit, on their home page
there's going to be a loancalculator.
Let's say that my family has$1,500 left to pay on our $7,000
(25:13):
original investment inInvisalign with your practice.
There's $1,500 left.
If you go type in $1,500 intothat loan calculator, you're
going to get a split screen comeup after you hit enter and on
the left side you are going toget options with 0% interest
which you never under anycircumstances present first.
(25:35):
Talk about that briefly in justa second, the second side, the
right side you're going to getyour with interest plans.
If you look at 60 months, you'regoing to get that payment right
and that payment could be aslow as $43 with no money down.
See, a lot of your patients, alot of your customers, any type
of business out there, they needa lower payment.
(25:56):
That's why this works so wellin COVID is.
Many of you out there neededthe cash flow desperately, but
your patients that were payingyou needed a lower monthly
payment desperately becauselikely they weren't doing well
either.
All right, now the economy isnot that good.
As I do this podcast today, Ihave a lot of confidence it's
going to get better based onrecent switches, but it's not
(26:17):
there yet.
So if you could reduce anin-house payment plan, maybe
they're paying you $185 a monthdown to $43 a month.
You're doing a great servicefor your customers, for your
patients, as well as that moneygoing into your bank account in
one to two business days, boom,you see how that works.
You're going to have $1,500minus a 2% fee.
(26:38):
That goes right into your bankaccount.
Now they start paying the bank.
Okay, you see how that works.
Now if you got a 30% yes,return.
So out of 30% of the 150customers patients say, yeah,
let me do this.
You can start doing the math onhow much cashflow you can start
putting into your bank accountand wipe those payments off of
(26:59):
your books and lessen the burdenon your practice, on your
business.
To go out and chase it Allright.
So if you go and again itdoesn't have to be people that
are a year and a half you coulddo this with 100% of your
patients.
There's a misconception that alot of you have out there that
people won't buy with interest.
They won't buy with interestoftentimes because of how you're
presenting it.
(27:19):
Remember framing effect?
Go back a couple seasons andlisten to that podcast.
I did it right before speakingat a dental monitoring event
with Alyssa Carter.
She and I did that the framingeffect together on stage and I
think the framing effect is oneof the most powerful things we
teach.
You know how to get people todraw different conclusions based
on what they perceive as thesame information.
(27:41):
That's all done through salesstrategy, hospitality, the
psychology of the consumer,meaning knowing what to say, how
to say, when to say, why to say, verbiage, presentation skills
all the things that we teach allover the world.
If you refine those skill sets,teach those skill sets, your
team becomes great at it.
You'll start getting yeses whenyesterday you got nos.
(28:01):
And this is the same thing forrestaurants out there.
What we train you on is whenyour waiters know how to speak,
you are going to sell morespecials.
When your waiters know how topresent and sell, you're going
to sell the $180 bottle of wineinstead of the glass of wine.
Right?
These are experiences.
These are sales throughexperiences.
So how you present this to yourpatients will ultimately decide
(28:26):
how many do say yes.
But that is not the podcast fortoday.
I'm going to give you one tipthat you must say you must use
consensus.
So when you reach out, you wantto let your patients know how
great of an offer it is and howmany of your customers are
taking advantage of it.
Right, this is a very popularoffer.
A lot of our customers aretaking advantage.
That's consensus powerful.
(28:47):
You leave that out, you willnot get as big a return.
Hey everybody, brian, right here, let's step away from the
podcast.
Hope you're enjoying it andlet's talk about presentation
skills here for just a minute.
I just briefly mentioned thatpresentation skills will really
determine how successful you aregoing to be with number two
today, with number two'sproactive strategy reaching out
(29:07):
to patients and refinancing howmuch they have left to pay you,
and refinancing that throughyour trusted partners.
I am excited to announce thatwe just came out with a brand
new on-demand course and it'sthe four steps to presenting
money and the four essentialsteps to presenting money to
today's consumer.
Look, focus, attention span.
People don't listen.
(29:27):
Everything is on the drop, it'son the decline, which means
your presentation skills aremore critical than ever before.
Plain and simple, your salesabilities, consumer psychology
again, knowing what to say, whento say, how to say, why to say
all of those great things thatwe teach.
Well, this four essential stepsof presenting money to today's
consumer is going to transformyour conversion.
(29:49):
It's going to transform yoursales.
It's going to get more moneydown, increase your cash flow,
which is today's topic and it'sgoing to teach you a lot of
advanced presentation skills onhow to simplify a lot of things
that a lot of you unfortunatelyout there make very complicated
when you don't need to.
On the preview video, I'm goingto put the link to the landing
page in the description below.
When you watch the previewvideo.
(30:10):
Do the role play with whoeverpresents money in your business.
Do the role play when I sayplay me again.
Right, when you come back tothat video, I am going to have
up what they said.
I already know how they'regoing to do it.
And if they said anywhere nearwhat I say in that preview video
that you can see on the landingpage, you need this course,
right?
This course is also going toteach you something about time.
(30:32):
I'm about to give you somethinghere that's going to help with
number two whenever or numberthree that I'm going to talk
about today, excuse me, wheneveryou're talking discounts, right
?
If you're going to offer a paidin full discount, do not give
the percentage.
Do not say 5%, 7%, 3%.
Say the number that equates,right, it's a $300 savings, $500
savings.
This on demand course willteach you more.
(30:52):
It will dive into thepsychology of why how to flip
your verbiage whenever you'reoffering discounts, you're going
to get a better result.
Okay, I'm also going to put a QRcode that is going to be in the
description below.
Use that QR code when you'rechecking out.
It'll give you a hundreddollars off of this course.
It's a course you can keep forlife, and for those of you that
come aboard as private clientswith us and we're coming to your
(31:14):
business and we're helping youon an ongoing basis,
role-playing all the things wedo, we will refund you that
money.
If you have bought a course inthe past and then you join us
for our private coachingsessions, we'll refund you that
money as part of this offer aswell.
So take advantage.
It is a fantastic course.
I am the teacher in that course, so I will walk you through,
guide you through a bunch ofgreat stuff that is going to
(31:35):
help your business tremendouslyacross the board cashflow, sales
, et cetera.
Take advantage of it.
I'll put that description, thelink in the description of the
podcast below Hope you'reenjoying today.
And now let's get back totoday's episode.
So we have step one get abusiness loan whenever you don't
need it.
Many of you out there canrelate to this and go damn.
You know my business was doingreally good.
(31:57):
You know, four years ago Thenwe hit a stall point and we
thought the stall point wasgoing to be temporary and it
wasn't.
It lasted a year, and now it'scontinued into this year, right,
maybe it's two years.
And now you're in a decline,right, that is not when you get
the loan.
You get the loan when you're onan upward trend.
All right, remember that.
Very powerful Personal life too, like I said.
(32:19):
Second way, reach out to yourcustomer base and ask if they
want to refinance the rest ofwhat's left over, that they have
to pay, right, and using thepayment calculator before you
call them.
Right, you can have thisconversation as patients or
customers walking in and out ofyour door.
You should have thisconversation with every one of
them as well.
If you're looking to increasecashflow is stop them, have the
(32:41):
conversation with them.
And and, like I said, you don'tneed a hundred percent success
rate, you don't need an 80%success rate.
Look for 20 to 30, right, andthe better you get at presenting
, that number will go up.
But if you just if you justlook at 20 to 30%, saying yes,
that could be tons upon tons ofmoney that goes into your bank
(33:02):
account in a couple days.
And remember the reason.
Why is two reasons why youoffer the 60-month.
First One the 60-month is goingto be the lowest possible
payment to the patient, to thecustomer.
Okay, that's going to be thelowest because it has the
highest interest, which meansthe bank is making the money off
of them.
It's not making the money offof you, so your fee to your
(33:23):
practice is going to be thelowest, the higher the interest
and the higher the monthly theyextend it.
That's why you always offerthat first.
Now you have to make thedecision, depending on how in
dire straits you are, of needingcash flow, whether or not to go
to 0%.
Your employees will alwaysdefault to 0% because it's an
easy sell, but they're notgetting hit with a fee.
(33:45):
You, as the business owner, are, and those 0% fees are
astronomical.
They are a lot.
But if you're in dire straitsof cash and you want to pay an
18% fee in order to get $50,000in your bank account tomorrow, I
believe that's still worth it.
(34:05):
Right, and $50,000 right now isprobably worth more than
$75,000 in a few years.
Like inflation, is that bad?
The government is printing aninsane amount of money every 30
to 90 days.
It's really startling how badthe government is screwing with
the U S dollar.
Many of you know I'm a bigcrypto investor and that's why,
um, I believe it's the future ofmoney.
There's all kinds of reasons.
The banking system's outdated.
(34:25):
You can't trade on the weekends.
It takes a while to transfermoney cross border.
Um, it's an outdated technologyand there's so many
unbelievable companies with withtransaction speeds and it can
transfer money in two or threeseconds.
It's a lot of cool, innovativethings in that industry, but my
biggest reason for investing init is because of the devaluing
(34:47):
of the US dollar.
It's sickening to watch how thepoliticians who most have never
owned a business in their life,how unqualified they are, yet
they're in charge of all thesedecisions.
It's very, very scary.
But remember one personal loanand business loan proactively
(35:07):
when you don't necessarily needit.
Two, reach out to your patient,your customer base, and ask if
they want to refinance the restof their outstanding balance and
you can reduce their payments.
Currently, mr Jones, you'repaying about $187 a month.
We can get that down topayments as low as $42 a month.
There's no down payment oranything needed.
Our patients are loving this.
(35:30):
We have a ton that are takingadvantage of this offer.
Would you like to proceed andwe can get that taken care of
for you?
Okay, so that's a mini versionof how you would present that.
There's other things, but notfor today.
Okay, I think a lot of you outthere.
That second one is probablygoing to intrigue you and
something that I think can solvesome cash flow issues for you
(35:51):
almost overnight if you'rehaving a conversation with
people in person as well aspeople over the phone.
Next one, third.
This is one of these.
A lot of you can relate to thiswhenever you have a newer
business and you're looking inyour bank account and you're
(36:12):
nickel and diming everythingthat's going out of your bank
account and you're wondering ifyou're going to be around
tomorrow and like I said.
I said new business, but youcould be in business 30 years
and be in this position, right?
You could have had 25 years ina row that were just glorious
and then the last few havesucked and you're back in
startup mode and there's tons ofbusiness.
(36:34):
We're going to talk about thefour stages of business growth
in the future.
It's probably going to be nextseason, so that's not coming
soon.
I don't think, and I try.
Many of you know I didn't saythis in the beginning.
Many of you know I try totailor the episodes to what's
going on in the economy.
It's not always possible, butone of the reasons if you've
noticed season eight of thispodcast, outside of the kickoff
(36:54):
episode in January where I hadDr Bob Skopak on all the rest of
them, for the most part, havebeen around growth and sales and
, like today, cashflow, becausemany of you out there are still
struggling, right?
A lot of the industry salesnumbers are down.
There's a lot of reasons forthat beyond the economy, by the
way, because there's a lot ofpeople that had their best year
(37:16):
ever last year and they live inthe same bad economy as you do,
right?
So in your world it may or maynot be the bad.
You may think it's the badeconomy, but in reality is how
you're running things.
That's a harsh reality thatmany of you unfortunately have
to face.
It's easier said than done.
It's the same thing in.
You know, if you're strugglingin your personal life and you
(37:37):
know whatever it is, you can'tlose weight and you say I have a
slow metabolism.
That's why you got other peoplethat are losing weight and in
great shape with slowmetabolisms.
This is kind of a look in themirror type of life, whether you
own a business or you're anemployee out there or all in our
personal lives.
Most of the time, whateverissues we face, if we just look
in the mirror and understand,look, if we just change things
(37:58):
to do what other people aredoing when they're succeeding in
the same conditions, I can getout of this stuff.
But you know, podcast, podcastfor another time.
But this third one this is oneof these things that definitely,
depending on your businessjourney and where you're at,
will be dependent on how muchyou're willing to offer.
But it's a paid in fulldiscount.
(38:20):
A lot of you out there don'toffer.
I think it's a huge mistake tonot offer relatively small.
They don't have to be massive,but just things that are
actionable, items that getpeople to say, yes, people like
discounts, I don't care whatindustry it is.
There's a reason why whensomebody says, hey, buy the, you
know, buy a pair of shoes atfull price, get the second at
(38:40):
50% off, why they sell moreshoes.
People like deals, so you knowgiving them.
Let's say you have an Invisalign, you're trying to convince me
to buy Invisalign and yourstandard pricing is $7,000.
As an example, I think and wevery much believe as a company,
and what we teach all businessesout there is to drive behavior
(39:02):
now, because what you have tounderstand is if they walk and
they say, let me think about it,the time, energy and effort
that you put in to chase themdown and get back is more than
if you just would have said,look, if you buy now, we can
give you $250 off right, and.
And.
Or if, if you buy now and youpay in full, you get an
(39:22):
additional $250 off, which endsup being a $500 total savings.
Now, on the paid in fulldiscount, depending on where you
are, you probably are going tooffer more than if you're doing
really well with cash flow.
You're not going to give awaythe farm.
But I will tell you the way manyof you look at numbers out
there.
It drives me nuts because youmay say, okay, $7,000,
(39:45):
invisalign case, using that asan example, if you are in
desperate need of cashflow, makethem an offer.
They, they, you know.
If you make them an offer of$250 to pay in full as a
discount, eh, you know, probablynot going to drive the needle
as much as you say look, if youstart today and you pay in full,
we can give you $1,000 off.
(40:05):
Now you may be going.
Brian, that's crazy.
Look how much money I lose.
You don't lose anything Ifyou're looking for cashflow any
day of the week.
$6,000 is more now than $7,000in a year or 18 months.
See, this is the piece that youhave to wrap your head around.
Is that on paper, today you'relosing money, right, but the
offer may get them to start whenthey otherwise wouldn't.
(40:26):
So you're not losing any moneythere.
And because of inflation, thedevaluing of the dollar, how
expensive things are because ofthose two things, etc.
$6,000 now is way more than$7,000 in 18 months or whatever.
However long the payment planends up being, you got to
remember that you are not losingmoney, especially this goes
back to if you don't need cashflow.
(40:48):
Still, you may not offer thethousand, as I just said, but
still if you get the money today, you pay yourself more.
You could go invest it, likeright now.
I think it's great investmentopportunities with a lot of
things out there right.
So maybe you just take thathome and go invest it when
otherwise you may or may nothave that cash to do so.
So again, a lot of times thepaper data lies not all the time
(41:10):
, but most of the time it'slying to you.
I used to say like it was a$50,000 service to be like
please please.
I'll give you whatever you want.
Pay me 10,000 now, I'll dowhatever it wants, right, and
you almost get into thisdesperation mode.
But for many of you out there,you can relate to this.
You're like, look, I'll take$3,000 now, over $6,000 in two
(41:33):
years, if it allows me to buildsome cash flow, to give me the
peace of mind to have a business, peace of mind of knowing my
business is going to be around,have a business.
I keep peace of mind of knowingmy business is going to be
around and, like I said, goingback to business is obviously
not all about data.
If the cash flow is there andit makes you feel healthier and
(41:54):
less anxious and you sleepbetter and you do a better job
as a leader, you do a better jobas a salesperson out there,
you're better with yourcustomers, you're better with
your prospective customers,you're better with your
employees.
That's what I'm saying.
Is that, then it's worth it.
And I'm not telling all of youout there to give $3,000 off,
but I'm simply telling that youshould offer a paid in full
(42:14):
discount and, depending on howmuch you need the cash flow, be
aggressive with it.
And if you're somebody thatalready has cash flow flow, it's
a mistake to not still offer adiscount.
It doesn't need to be asaggressive as when you need it.
But again, going back to, howdo you know that you're not
going to need it in six months,a year, three years, right?
(42:34):
How do you know that thingsaren't going to go from really
great to not so great to reallybad?
Like you don't, and that is whyyou have got to be proactive
with these three strategies.
One, seek loans personally andprofessionally when things are
going well, if you have thatopportunity.
Two, call your customers andask if they want to refinance
the rest of the money they havethrough your trusted partners.
(42:57):
Do not say third-partyfinancing, say trusted partners.
That's something you can adaptwhen you're presenting money.
Do not say third partyfinancing, say trusted partners.
There's a lot of reason for it.
Third party financing is atrigger word.
You do not want to use it.
Podcasts on trigger wordsdefinitely for another time.
Okay.
So reach out and be proactivelyand try to get 20, 30% of the
(43:19):
people paying you in-house torefinance their loan externally
through a trusted partner.
You will take that cash and putit in your bank account in one
to two business days and lessenthe stress of chasing money down
because they're not paying youanymore, all right.
Third, offer paid in fulldiscounts and be aggressive with
it.
Especially, the more money thatyou need, the more cash flow it
(43:40):
is.
Do not nickel and dime yourself.
Do not trip over dollars topick up pennies.
If you need cash flow or you'refearful that you're going to
need it tomorrow or in thefuture, being aggressive with
those paid in full discountsmake complete sense, right, you
don't need to offer $1,000 or$1,500 or something like that.
That may be ridiculous, butalso, you got to remember.
(44:01):
You know there's all kinds ofstudies on this out there, but I
saw one recently where averageAmerican savings accounts right
around $600.
Right, so you know people don'tusually have a bunch of money
to pay in full.
So if you're not beingaggressive with it, if you're
saying $250, that may be fine ifyou don't need the cash flow.
But if you need it, it's notgoing to drive action as much as
(44:22):
it otherwise could.
Right, and again, if you don'tneed it doesn't mean you're not
going to have in six months,right.
So be proactive on the loans.
Reach out to your customers andrefinance them and lower their
monthly payments.
It'll also help you with cashflow and be aggressive with your
paid and full discounts Threeways to be proactive and
(44:42):
instantly increase your cashflow, both personally and
professionally.
Hope everybody enjoyed today.
As always, if you enjoy thepodcast, give us a thumbs up.
Tell your friends, family,colleagues about the podcast.
As we continually grow, I meanwe are getting listens in.
I mean Dubai, france, australia, japan.
I mean this global listeningbase is just growing and growing
(45:05):
, and then obviously a largebase here in the United States.
And so, loyal to all of you, Ilove you all, appreciate it so
much and until next time we'llsee everybody soon.
Bye-bye.
YouTube followers.
Listen up very, very closelybecause you're probably scared
looking at me going.
What in the world happened tothis guy's face?
Guys, it's all good, had ashrimp allergy.
I took some sushi, or ate somesushi.
They told me shrimp was not init.
It was supposed to be crab.
No, I'm not allergic toshellfish, it's just shrimp.
(00:22):
For whatever reason, anybodyhas answers to that out there.
Please let me know, becauseI've been searching for them my
entire life.
Well, some shrimp got in there.
It was fresh, wasn't cooked.
I don't know if I have aproblem with cooked I've never
eaten cooked, but fresh I suredo.
I have different things thathappen and it's been a long time
.
Well, this time my face swelledup like a good year blip.
(00:42):
It is bright red like I gotburnt from the sun.
I am swelled up all over theplace and I wanted to make sure
all of you out there, especiallythose that are seeing me for
the very first time, understandthis is not how I look all the
time.
So I just wanted to clear thatup for everybody who are
watching Audio experiencelisteners out there.
If you're intrigued, go checkit out.
(01:03):
If not, just listen and you'llbe good.
But hey, everybody, welcomeinside the studio and today,
listen very closely.
Cash now is always moreimportant than cash tomorrow.
It's always more powerful.
It's always worth more thancash.
Tomorrow, you may be somebodyout there that's in dire straits
.
Your business may be new,you're looking for it.
(01:25):
You may be 30 years old in yourbusiness and you're struggling
and you're saying, okay, how canI use some really cool,
innovative ways to build my cashflow now?
We doing everything in ourpower to get it.
But oftentimes when we have it,we relax a little bit, right.
(01:47):
It makes us feel good.
Maybe your anxiety goes down.
I'm going to talk about thattoday here, a little bit on what
it does for me when we havecash flow versus maybe we're
struggling with it for whateverreason.
So, regardless of where you arein your business journey, if
you need it desperately oryou're ahead and you already
have it, don't get relaxed right.
Don't be reactive wheneveryou're looking for cash flow.
(02:09):
Be proactive, and that's whatwe're going to be talking about
today is three proactivestrategies and you're going to
like these.
That is going to increase yourcash flow both in your business,
but also we're going toreference back on how you can do
the same type strategy, thesame thinking, the same
proactive mindset that businessowners, entrepreneurs, have out
(02:29):
there, how you can do this inyour personal life, if maybe
you're an employee listening outthere, or whatever.
It may be Really good one foryou today.
That, I think, is going to helpa lot.
Also, and I said this on thelast podcast we now have an
official launch date of therebrand of the new patient group
podcast.
We are going to be rebrandingit into the Brian Wright show.
The first episode that's goingto be coming out in May.
(02:51):
First business day of May iswhen we always release that
first episode.
Just to let everybody know, incase you don't out there, it's
going to be rebranding to theBrian Wright show.
Now you don't have to doanything.
The last podcast episode makesure you go out and check that.
Go check that out, because I goin depth more about that than
I'm going to do today.
But we're rebranding it for alot of reasons.
(03:13):
One, the rebrand is going tohappen within our current
hosting company, so just thename of the podcast is going to
change.
If you're already downloading,you're already a subscriber.
There isn't anything you needto do other than look for the
new name that comes up in yourpodcast feed.
Okay, don't worry about goingto a different channel and a new
subscription downloads nothing.
It's just going to come up asit normally is.
It's just going to be under asame name.
(03:34):
If this is new to you and you'remaybe checking in for the first
time, I referenced this more inthe last episode.
Like I just said this more inthe last episode.
Like I just said, but thereason we're rebranding is look,
we help.
Our message help businesses andentrepreneurs and really
anybody that wants to transformlife, career and or business.
Our message is for all thoseout there If you're somebody
that wants to get more out ofyour life, career and or
(03:57):
business, our message resonates.
Our expertise is used bycompanies all over the world.
Our niche, however, startingmany years ago, we found a niche
in orthodontics, dentistry,other healthcare professions,
because the stuff we teachleadership, sales, hospitality,
verbiage, consumer psychology,experience, etc.
(04:18):
Etc.
Etc, etc.
It applies to any type ofbusiness, but that niche is
because if somebody types inbraces or Invisalign on Google
as an example, boom.
You have 10 options, whichautomatically puts you into the
people first business nodifferent than a hotel, a
restaurant and every otherentrepreneur's business on the
planet.
(04:39):
A lot of cool new episodescoming out.
It's going to just get betterfor all of you, but it's also
going to challenge you, likewe've always done on here.
It's going to challenge you,challenge you, challenge you so
you do get the most out of yourlife, career, business.
So, before we start today withthis good three proactive
strategies to increase cash flowin your life and your business,
(04:59):
let's go ahead and fire up thenew upcoming music.
Once we make the officialchange, you're going to get a
new intro to this.
Speaker 2 (05:11):
Let's go ahead and fire it up now and we'll see you
on the other side.
Welcome to the Brian WrightShow Audio Experience, a podcast
dedicated to transforming lives, careers and businesses, and
now your host.
He's a husband, father of two,an international business and
life coach, the founder and CEOof New Patient Group and Right
(05:32):
Chat, and a consultant andglobal speaker for some of the
finest companies in the world,such as Invisalign and many
others.
Speaker 1 (05:41):
Now here's your host, brian Wright.
It's double your new customersOvernight by mastering this.
(06:03):
One skill was our topic andhave a lot of you out there.
You know you've jumped this,you've already seen it work.
You've already got some startsfrom it, some sales from it.
Very proud of you.
You know almost anything inlife.
All of you have to remember andthere's exceptions to
everything but almost anythingin life, your career and or your
business out there, the bestway to go about anything is
(06:24):
implementing it faster thaneverybody else.
Not perfecting it, not evenbeing good at it, just doing it.
Be a doer.
If you have an idea, go do it.
If you're scared of something,overcome it by going and doing
it.
Much easier said than done, butsome of you on the mastermind
and right after right, you jumpto it and boom, you added sales.
You jump to it and boom, youadded sales, you added revenue
to the business and eventuallythose people are going to become
(06:45):
a referral stream thatotherwise never would.
So very, very proud of you.
Have our upcoming in-personsession in Scottsdale, looking
forward to seeing all thecustomers out there and spouses
and we're going to go for athree-day blast like we always
do.
We're going to have new faces,as we always do, as as some
familiar ones.
So can't wait to see everybodyat our upcoming in-person event
(07:07):
in scottsdale, arizona.
And awesome that we have ourupcoming march iconic.
March 27th through the 29thwe're going to be having people
fly in all over the country toour training, our training
facility here, and it's our veryfirst iconic ever dedicated at
the clinical assistance outthere.
You know it can be so easilylost by all of you understanding
(07:28):
that 90% of what an assistantdoes for you is non-clinical
their communications, theirsales abilities, handling tough
conversations when a kid isn'tcompliant but the parent thinks
the kid can do no wrong.
How they greet, startappointments, how they interact
with each other.
There's so many things thatthey do and there's really no
event.
There's no event like Iconic inexistence period, certainly not
(07:52):
an event like this Target atAssistance.
And then October everybody andwhen the landing page is ready
we're going to be putting itdown in the description below
we're going to have our fullteam event, october Iconic, here
at our training facility inColorado Springs.
It is going to be unbelievableand we're looking forward to
packing the house.
We already have verbalcommitments and registration
(08:14):
will be opening once this Iconicgets finished and we move into
April, registration officiallywill open on our website shortly
thereafter.
So look for the first week,second week, that kind of thing
in April.
A lot of amazing, amazingthings going on and so blessed
all of you out there who arecustomers and being a part of
our family means the world asyou know it does Today.
(08:36):
Diving into a topic like wetalked about in the intro three
proactive strategies to increasecashflow in your life and your
business and I was walking tothe other day my family, we were
in downtown Manitou and Manitouis basic.
It's right outside of ColoradoSprings, it's basically Colorado
Springs and it's beautiful, soit's at the base of the
(08:56):
mountains, really neat, eclecticdowntown and we're walking
around downtown with withKristen and the kids and we come
across this, this olive tap tapwhich we get our olive oil
there, and I trust it.
If you've never seen theNetflix documentary on what the
mob has done to the olive oilsall over the world and
especially here in the UnitedStates, it's a really cool
(09:19):
documentary.
It's also scary Like themajority of the olive oils here
on the shelves in America aretainted with canola oils, fake
stuff, lubricants, a bunch ofdifferent stuff.
It's a very interestingdocumentary.
So you know we're very healthconscious, so you know we want
to make sure we're getting a lotof olive oil.
It's very good for you andanyway.
So the olive tap is a place thatwe trust, so we're going in
(09:41):
there to get some more olive oilrunning low.
And there's this table set upoutside and there's this husband
and wife who now listen to thepodcast.
So I'm going to give you a freeshout out here and some free
publicity, because I believe infamily owned businesses and I
want you to succeed and Iappreciate you now subscribing
and listening to the podcast andthis is why I know us
(10:01):
rebranding the podcast to theBrian Wright show is so powerful
and it's the right thing to dobecause, as we're going to the
olive tap, they had a boost setup out there and they're giving
away some.
You know some free breads andthings like that and they're
beautiful that you know only afew ingredients, which is all
you need.
You look at the bread in thestore as like 90 and it should
be legal.
A lot of the ingredients areillegal in countries all over
the world except for here, sowe're looking at that.
(10:24):
You know we buy some bread, weget into some some business
discussions and, and I thinkwhat we talked about is going to
help them and certainly thispodcast is going to help them
and you know, helping helpingbusinesses all over the world
for so many years.
I'm really pumped to still haveour niche.
Our niche will always be whatit is, but just open ourselves
up to to more listeners, abroader audience and bringing in
(10:47):
more guests.
Matter of fact, the founder ofCisco reached out to me via
email and I think I'm going tohave him on, and that's what I'm
talking about Just reallypushing all of you out of your
boundaries by having some morepodcasts with guests that come
from outside your world, yourindustry, and just again heading
back to transforming businesses, transforming lives and careers
(11:07):
, and obviously we're verypassionate about it.
And if you go to Instagram andgo to lakes underscore bakes,
follow them.
All right, let's build thatfamily-owned business with
organic breads.
Let's build their Instagram andI want to give them a free
shout out again lakes underscorebakes, follow them, order some
(11:27):
stuff from them and, and I hopeyou guys do really well.
It was a pleasure talking toyou and I hope you take my
advice.
Hopefully it helps and as youcontinue to listen to this
podcast, as it's helpedthousands upon thousands all
over the world, it's going tohelp you too.
Let's dive in today, guys.
The very first one if you're abrand new business and this is
the part of going out andseeking cash flow that can be
(11:50):
hard is that oftentimes, whenyou need it, you can't get it.
If you show a bank, hey, we'redeclining, our revenue is going
down, or I don't have anyrevenue, or I do have revenue,
we're only even in business ayear and a half.
Banks are in business to makemoney, obviously, so they are
going to measure their risk andcalculate whether or not it's
worth it and things like that.
(12:11):
So when you need it, the mostoftentimes you can't get it,
which that in itself is why youalways want to be proactive.
It's a very bad way of lookingat it, going, hey, I don't need
a loan right now as an example,so therefore I'm not going to go
get it.
Bad, bad way of thinking aboutit needs to be reversed.
So this may number one may ormay not help you, but the very
(12:32):
first one is when you go out andseek business loans.
Many of you out there, like Ijust said, you go out and seek
business loans when it's needed,and that's the mindset that I
want you to change today is, ifyou're a business that is doing
well, you're happy with yourcash flow, your sales are good,
they're on the up, the revenueis on the ongoing up and up and
(12:52):
up and your business is healthy,that is when you go out and you
get a business loan.
That is the opposite of how somany of you out there think,
just in general.
I mean, we are reactive animals, as is you know.
We we get overweight, we try tolose weight, we lose money, we
try to make money.
Our marriage goes to hell, sotherefore, we seek counseling to
(13:13):
try to improve it.
Right.
How many people have a marriagecounselor when their marriage
is going really well?
Not many.
How many people work out andpush themselves to stay in shape
and are always looking for thenext workout to do, to
constantly be shaking up theirbody before they need to?
Not many.
So this is one of the reasons ofmany why many of you out there
(13:36):
are reactive business owners andwhy you need to change that way
of thinking as it relates todayobviously in many different
ways.
But, as it relates today'sepisode is, you need to change
that way of thinking with yourbusiness loans, because if
you're somebody that has healthycash flow and your business is
doing really well, I am teachingyou to go out and get one, for
(13:57):
a couple reasons.
The second one isnon-statistical.
It's going to be more of ahealth reason that I'm going to
describe to you all the way Ilook at it and how it helps me.
The first one is obvious right,you're going to get a better
interest rate.
You're going to get probablymore money than you would ever
dream of even needing andtherefore the cash flow you have
(14:18):
will be able to double, to beable to triple, and therefore
and this is the mistake so manyof you out there are going well,
I don't need one as it standstoday, yeah, but tell me what
tomorrow looks like.
Tell me what six months fromnow looks like.
A year, two years from now,what does that look like?
And none of you know, no matterhow good you're doing today, no
matter how bad you might bedoing today, things could flip
(14:38):
and the person that's strugglingtoday could be outproducing
somebody that's doing greatright now, but then they start
struggling in a year, this couldflip, and what you don't want
to do is go seek that loan whenthe shit hits the fan, and that
is what so many of you out thereunfortunately do with your
businesses in general.
Right, you wait to your newcustomers, your new patients are
(14:59):
dropping and you go out thereand you try to fix the problem.
Your conversion, your salesconversions going down you go
out there and you try to fix theproblem.
No, when you try to fix thoseproblems is when you're doing
well, right, hey, my conversionis up.
What can we do to make sure itstays there and continually goes
up?
Well, you've got to innovate.
You've got to install change inyour culture.
(15:20):
You've got to also beconsistent and repetitive with
what you've worked on in thepast.
Where those skill sets don't godown, right.
So you've got to be proactive,just like you have to be
proactive with your businessloans.
And it's hard.
Like you may be going hey, Idon't need it.
So I'm really going to take a3% or 7% hit on interest.
My answer is absolutely right.
You can either do that and goinvest it, and this is the same
(15:41):
way in your personal life.
Right, this is going to be thesmaller portion of the
conversation today, but ifyou're taking home good money
and you're happy with yourincome, that is when you go out
and get a personal loan in yourlife.
Right, because you don't reallyneed the money.
You can go out and invest inmoney.
Invest in that or use thatmoney to invest and get a larger
return back than the interestrate you're paying back for
(16:04):
loans.
You know to invest and get alarger return back than the
interest rate you're paying backfor loans.
You know, a very common trait ofbillionaires and people of the
ultra, ultra wealthy is they usedebt to build wealth.
Many of you out there mayfollow Dave Ramsey and I, as an
entrepreneur, disagreewholeheartedly with everything
he teaches.
I do not agree with any of it.
And if you can look at thebillionaires, the ultra wealthy
maybe they're not billionaires,but they're ultra wealthy they
(16:27):
are consistently using debt tobuild wealth.
They'll take a $100,000 loanand they'll go invest the
$100,000 and get a 20% returnwhen they're only paying back 5%
on the 100,000 to the loan.
You see how that works, right?
You just made 15% that youotherwise couldn't have made if
you didn't have that $100,000loan.
They are constantly takingloans against their business,
(16:48):
constantly taking loans againstthings in their personal life,
and they're going and investingin that money.
So, again, they're beingextremely proactive about it.
And as an entrepreneur and thisis why I encourage most of you
out there, with exceptions like,is paying things in full a bad
thing?
No, it's not a bad thing.
It's not that I say like DaveRamsey is an idiot, doesn't know
what he's talking about.
(17:08):
No, his philosophy applies to alot of people out there.
If you're not an entrepreneur,it does make sense to pay things
down or pay things off.
If you're an entrepreneur, itdoesn't, because a lot of those
things are deductions that saveyou on tax dollars at the end of
the year.
But back to the first point.
Look for business loans in yourpersonal or in your business
(17:31):
life, and also, again, forpersonal loans in your personal
life when things are going well.
Now, that may not help you.
If you're a brand new business,you may be seeking a loan.
You can't get it yet, or abusiness that right now is today
, is struggling.
So some of these number two andthree is gonna help you there,
but one may or may not help you.
But for many of you out therewho are doing well, seek, and
(17:53):
again, you don't have to becrushing it right.
So even if you're doing okay,right and you can show the bank
some positivity that they canlook at and go, look, we can
take this is worth the risk, goout there and look for the loan
and put that money in yourpocket.
Now, way two of way one.
(18:13):
A minute ago I said there's kindof two reasons or two ways that
I look at this.
First one that I'm talkingabout.
The other one's kind of anon-statistical thing.
So I feel I do a much betterjob for all of you out there
when our cash flow is good.
So if I do this podcast today,one of my companies, new Patient
Group, another company, rightChat.
I have others when the cashflow is great in those
(18:34):
businesses, my anxiety drops, Isleep better, my mind functions
better, I feel better, I feelmore healthy and I get behind
the mic or on stage or onnon-demand course or in some of
your businesses, whatever it maybe, and I believe I perform
better because those things arenot on my mind.
And that's one of those thingsagain, that getting a loan for
(18:58):
me because I perform better, weend up making more sales because
of it, we keep people longerbecause of it, the experience of
our customers is better becauseof it, things like that.
So that's one of thoseoff-paper things that, for me,
always makes it worth it.
Because even if you're payingback let's say 8% and $100,000,
(19:18):
just using that as a simpleexample but even if that's what
you're doing and you don'tnecessarily need the cash and
let's say it just sits there andyou never use it a lot of
people would be like, well, youjust lost money and in the
scheme of things, you're right.
But if it makes you feel theway I just described, the money
you lost, you're going to morethan make up by your business
(19:38):
just simply performing.
Well, if you're struggling withcash flow and you wonder if
you're going to be aroundtomorrow, it is really, really
difficult to then go do your joband be a great chef, be a great
clinician, be a greatmotivational person, business
life coach like myself.
It's very, very difficult to dothat at the same level.
So you see how that works.
Right, by doing it at a higherlevel, you can make that 8% that
(20:02):
you lost back, because you'regoing to be better, you're going
to make more sales, add morerevenue things like that to the
company.
So those are a couple ofreasons.
Be proactive, and a lot of timesagain.
If it's going to help youproduce better, like I just
described, it may be worth it initself.
But, main thing, if you'regoing to take the loan, you want
to have a reason to go use it,hire somebody, invest in
(20:24):
something.
You want to have somethingwhere you can go and use the
money that produces a largerreturn back than the interest
rate that you're going to paythe bank Anytime that that's the
case, the loan makes sense.
You all have to make your owndecisions Sometimes.
(20:54):
This is the way it was in thebeginning with New Patient Group
.
I begged people to pay in fullback then like $50,000 a year
service and be like please, canyou pay?
I'll give you anything.
Take $25,000 off of look, okay,we can live for a couple months
, we can have a business for awhile, and obviously you're not
going to do that the more maturethat you get and I'm going to
talk about that concept a littlebit more here when we get to
number three today.
So be proactive with your loans.
Everybody, very, very important.
And if you don't have anythinglike.
(21:15):
You don't need it, there'snothing you plan on investing.
You have to make the decision.
Does it make sense for you?
But I will again tell you justbecause you don't need the money
today or don't have anything toinvest or don't know what to
invest in, whatever it may be,it doesn't mean in six months
you're not going to be indesperate need of that money for
whatever reason.
Just keep that in mind.
(21:36):
Be proactive, because themoment you need it, you're going
to get a worse loan, not asmuch money, a worst interest
rate.
Do you see how all that works?
Be proactive with your loans.
Number two, and this issomething that we did with a lot
of you out there during COVIDand our customers rocked it.
During COVID, I saw a lot ofpeople struggling out there, our
(21:57):
practices and our businesses.
They really really did well,and New Patient Group did really
really well.
That was.
I was doing a ton of speakingon webinars.
Everyone was just stuck at home, and it's really when we
started, even though we had beenaround a long time leading up
to that.
That's really when we startedgetting more and more known in
our niche area, and we didreally well too.
That's really when we startedgetting more and more known in
(22:17):
our niche area, and we didreally well too.
But one of the things that Iwant to talk about now is
something that I think is reallyinnovative, and it's not
something that your customers,your patients out there, are
going to come to you and go hey,is this an option?
I need it.
This is kind of like one ofthose things where if you want
more Google reviews, you have toask for them.
If you want more videotestimonials, you have to ask
(22:41):
for them.
It drives me nuts.
You could go in and out of athousand restaurants and the
waiters never ask.
It's just asinine, right?
It should be part of and forthe restaurants we work with.
This is part of the program istraining the waiters how to ask,
when to ask, to make sureyou're getting video
testimonials from the tables,five-star reviews from the
tables, things like that butnobody's walking into your
business, going.
Can I please give you a videotestimonial?
(23:02):
Right, you have to ask withintent, and when you do that,
you're going to build your videotestimonials and have a better
YouTube station and a betterdigital presence.
But you have to ask.
If you don't ask, you're goingto lose thousands of
opportunities over the course ofyour existence.
Number two is kind of the sameway that I'm getting into.
Is that one of the things thatwe worked with with businesses
(23:26):
then and we continue to do thisand this is especially if you
really need cash.
You're like, hey, brian, I needit, how the hell do I get it
now?
And the bank loan may or maynot be the way to go if you're
really struggling and you needit, like I need the money
tomorrow morning or I have areal problem here.
But this also again goes backto if you're successful, your
(23:47):
cash flow is great.
This matters a lot too, becauseyou don't know if your cash
flow is going to be great in sixmonths.
You never, never know.
So if you go and you look at andI'm going to make up let's say
you have a hundred.
Let's say you have 300 patients, 300 customers, whatever
business you have out there, andthey're and they're making
payments to your business.
(24:07):
You have an in-house paymentplan, right, so they're not
financed outside of yourbusiness.
And let's say you have 300.
If you go, look at the balancesof those 300, start with ones
that are making payments andlet's say they're making
payments for a year and a half.
That's your baseline.
And again, your baseline couldbe two years.
It could be a year.
I'm using a year and a half.
Go and look at the balancesremaining.
(24:29):
Maybe that leaves 150 patients,customers, whatever, that are
paying you that are a year and ahalf in.
They've got whatever a yearleft, six months left, whatever
it is.
Go in there and every single oneof them reach out to them and
ask if they would like torefinance their remainder and
(24:49):
they can extend out as long as60 months through a care credit
and for payments as low as Now.
How you do this?
For those of you that are inthe ortho world, dental world,
our niche is that if you go toCareCredit, on their home page
there's going to be a loancalculator.
Let's say that my family has$1,500 left to pay on our $7,000
(25:13):
original investment inInvisalign with your practice.
There's $1,500 left.
If you go type in $1,500 intothat loan calculator, you're
going to get a split screen comeup after you hit enter and on
the left side you are going toget options with 0% interest
which you never under anycircumstances present first.
(25:35):
Talk about that briefly in justa second, the second side, the
right side you're going to getyour with interest plans.
If you look at 60 months, you'regoing to get that payment right
and that payment could be aslow as $43 with no money down.
See, a lot of your patients, alot of your customers, any type
of business out there, they needa lower payment.
(25:56):
That's why this works so wellin COVID is.
Many of you out there neededthe cash flow desperately, but
your patients that were payingyou needed a lower monthly
payment desperately becauselikely they weren't doing well
either.
All right, now the economy isnot that good.
As I do this podcast today, Ihave a lot of confidence it's
going to get better based onrecent switches, but it's not
(26:17):
there yet.
So if you could reduce anin-house payment plan, maybe
they're paying you $185 a monthdown to $43 a month.
You're doing a great servicefor your customers, for your
patients, as well as that moneygoing into your bank account in
one to two business days, boom,you see how that works.
You're going to have $1,500minus a 2% fee.
(26:38):
That goes right into your bankaccount.
Now they start paying the bank.
Okay, you see how that works.
Now if you got a 30% yes,return.
So out of 30% of the 150customers patients say, yeah,
let me do this.
You can start doing the math onhow much cashflow you can start
putting into your bank accountand wipe those payments off of
(26:59):
your books and lessen the burdenon your practice, on your
business.
To go out and chase it Allright.
So if you go and again itdoesn't have to be people that
are a year and a half you coulddo this with 100% of your
patients.
There's a misconception that alot of you have out there that
people won't buy with interest.
They won't buy with interestoftentimes because of how you're
presenting it.
(27:19):
Remember framing effect?
Go back a couple seasons andlisten to that podcast.
I did it right before speakingat a dental monitoring event
with Alyssa Carter.
She and I did that the framingeffect together on stage and I
think the framing effect is oneof the most powerful things we
teach.
You know how to get people todraw different conclusions based
on what they perceive as thesame information.
(27:41):
That's all done through salesstrategy, hospitality, the
psychology of the consumer,meaning knowing what to say, how
to say, when to say, why to say, verbiage, presentation skills
all the things that we teach allover the world.
If you refine those skill sets,teach those skill sets, your
team becomes great at it.
You'll start getting yeses whenyesterday you got nos.
(28:01):
And this is the same thing forrestaurants out there.
What we train you on is whenyour waiters know how to speak,
you are going to sell morespecials.
When your waiters know how topresent and sell, you're going
to sell the $180 bottle of wineinstead of the glass of wine.
Right?
These are experiences.
These are sales throughexperiences.
So how you present this to yourpatients will ultimately decide
(28:26):
how many do say yes.
But that is not the podcast fortoday.
I'm going to give you one tipthat you must say you must use
consensus.
So when you reach out, you wantto let your patients know how
great of an offer it is and howmany of your customers are
taking advantage of it.
Right, this is a very popularoffer.
A lot of our customers aretaking advantage.
That's consensus powerful.
(28:47):
You leave that out, you willnot get as big a return.
Hey everybody, brian, right here, let's step away from the
podcast.
Hope you're enjoying it andlet's talk about presentation
skills here for just a minute.
I just briefly mentioned thatpresentation skills will really
determine how successful you aregoing to be with number two
today, with number two'sproactive strategy reaching out
(29:07):
to patients and refinancing howmuch they have left to pay you,
and refinancing that throughyour trusted partners.
I am excited to announce thatwe just came out with a brand
new on-demand course and it'sthe four steps to presenting
money and the four essentialsteps to presenting money to
today's consumer.
Look, focus, attention span.
People don't listen.
(29:27):
Everything is on the drop, it'son the decline, which means
your presentation skills aremore critical than ever before.
Plain and simple, your salesabilities, consumer psychology
again, knowing what to say, whento say, how to say, why to say
all of those great things thatwe teach.
Well, this four essential stepsof presenting money to today's
consumer is going to transformyour conversion.
(29:49):
It's going to transform yoursales.
It's going to get more moneydown, increase your cash flow,
which is today's topic and it'sgoing to teach you a lot of
advanced presentation skills onhow to simplify a lot of things
that a lot of you unfortunatelyout there make very complicated
when you don't need to.
On the preview video, I'm goingto put the link to the landing
page in the description below.
When you watch the previewvideo.
(30:10):
Do the role play with whoeverpresents money in your business.
Do the role play when I sayplay me again.
Right, when you come back tothat video, I am going to have
up what they said.
I already know how they'regoing to do it.
And if they said anywhere nearwhat I say in that preview video
that you can see on the landingpage, you need this course,
right?
This course is also going toteach you something about time.
(30:32):
I'm about to give you somethinghere that's going to help with
number two whenever or numberthree that I'm going to talk
about today, excuse me, wheneveryou're talking discounts, right
?
If you're going to offer a paidin full discount, do not give
the percentage.
Do not say 5%, 7%, 3%.
Say the number that equates,right, it's a $300 savings, $500
savings.
This on demand course willteach you more.
(30:52):
It will dive into thepsychology of why how to flip
your verbiage whenever you'reoffering discounts, you're going
to get a better result.
Okay, I'm also going to put a QRcode that is going to be in the
description below.
Use that QR code when you'rechecking out.
It'll give you a hundreddollars off of this course.
It's a course you can keep forlife, and for those of you that
come aboard as private clientswith us and we're coming to your
(31:14):
business and we're helping youon an ongoing basis,
role-playing all the things wedo, we will refund you that
money.
If you have bought a course inthe past and then you join us
for our private coachingsessions, we'll refund you that
money as part of this offer aswell.
So take advantage.
It is a fantastic course.
I am the teacher in that course, so I will walk you through,
guide you through a bunch ofgreat stuff that is going to
(31:35):
help your business tremendouslyacross the board cashflow, sales
, et cetera.
Take advantage of it.
I'll put that description, thelink in the description of the
podcast below Hope you'reenjoying today.
And now let's get back totoday's episode.
So we have step one get abusiness loan whenever you don't
need it.
Many of you out there canrelate to this and go damn.
You know my business was doingreally good.
(31:57):
You know, four years ago Thenwe hit a stall point and we
thought the stall point wasgoing to be temporary and it
wasn't.
It lasted a year, and now it'scontinued into this year, right,
maybe it's two years.
And now you're in a decline,right, that is not when you get
the loan.
You get the loan when you're onan upward trend.
All right, remember that.
Very powerful Personal life too, like I said.
(32:19):
Second way, reach out to yourcustomer base and ask if they
want to refinance the rest ofwhat's left over, that they have
to pay, right, and using thepayment calculator before you
call them.
Right, you can have thisconversation as patients or
customers walking in and out ofyour door.
You should have thisconversation with every one of
them as well.
If you're looking to increasecashflow is stop them, have the
(32:41):
conversation with them.
And and, like I said, you don'tneed a hundred percent success
rate, you don't need an 80%success rate.
Look for 20 to 30, right, andthe better you get at presenting
, that number will go up.
But if you just if you justlook at 20 to 30%, saying yes,
that could be tons upon tons ofmoney that goes into your bank
(33:02):
account in a couple days.
And remember the reason.
Why is two reasons why youoffer the 60-month.
First One the 60-month is goingto be the lowest possible
payment to the patient, to thecustomer.
Okay, that's going to be thelowest because it has the
highest interest, which meansthe bank is making the money off
of them.
It's not making the money offof you, so your fee to your
(33:23):
practice is going to be thelowest, the higher the interest
and the higher the monthly theyextend it.
That's why you always offerthat first.
Now you have to make thedecision, depending on how in
dire straits you are, of needingcash flow, whether or not to go
to 0%.
Your employees will alwaysdefault to 0% because it's an
easy sell, but they're notgetting hit with a fee.
(33:45):
You, as the business owner, are, and those 0% fees are
astronomical.
They are a lot.
But if you're in dire straitsof cash and you want to pay an
18% fee in order to get $50,000in your bank account tomorrow, I
believe that's still worth it.
(34:05):
Right, and $50,000 right now isprobably worth more than
$75,000 in a few years.
Like inflation, is that bad?
The government is printing aninsane amount of money every 30
to 90 days.
It's really startling how badthe government is screwing with
the U S dollar.
Many of you know I'm a bigcrypto investor and that's why,
um, I believe it's the future ofmoney.
There's all kinds of reasons.
The banking system's outdated.
(34:25):
You can't trade on the weekends.
It takes a while to transfermoney cross border.
Um, it's an outdated technologyand there's so many
unbelievable companies with withtransaction speeds and it can
transfer money in two or threeseconds.
It's a lot of cool, innovativethings in that industry, but my
biggest reason for investing init is because of the devaluing
(34:47):
of the US dollar.
It's sickening to watch how thepoliticians who most have never
owned a business in their life,how unqualified they are, yet
they're in charge of all thesedecisions.
It's very, very scary.
But remember one personal loanand business loan proactively
(35:07):
when you don't necessarily needit.
Two, reach out to your patient,your customer base, and ask if
they want to refinance the restof their outstanding balance and
you can reduce their payments.
Currently, mr Jones, you'repaying about $187 a month.
We can get that down topayments as low as $42 a month.
There's no down payment oranything needed.
Our patients are loving this.
(35:30):
We have a ton that are takingadvantage of this offer.
Would you like to proceed andwe can get that taken care of
for you?
Okay, so that's a mini versionof how you would present that.
There's other things, but notfor today.
Okay, I think a lot of you outthere.
That second one is probablygoing to intrigue you and
something that I think can solvesome cash flow issues for you
(35:51):
almost overnight if you'rehaving a conversation with
people in person as well aspeople over the phone.
Next one, third.
This is one of these.
A lot of you can relate to thiswhenever you have a newer
business and you're looking inyour bank account and you're
(36:12):
nickel and diming everythingthat's going out of your bank
account and you're wondering ifyou're going to be around
tomorrow and like I said.
I said new business, but youcould be in business 30 years
and be in this position, right?
You could have had 25 years ina row that were just glorious
and then the last few havesucked and you're back in
startup mode and there's tons ofbusiness.
(36:34):
We're going to talk about thefour stages of business growth
in the future.
It's probably going to be nextseason, so that's not coming
soon.
I don't think, and I try.
Many of you know I didn't saythis in the beginning.
Many of you know I try totailor the episodes to what's
going on in the economy.
It's not always possible, butone of the reasons if you've
noticed season eight of thispodcast, outside of the kickoff
(36:54):
episode in January where I hadDr Bob Skopak on all the rest of
them, for the most part, havebeen around growth and sales and
, like today, cashflow, becausemany of you out there are still
struggling, right?
A lot of the industry salesnumbers are down.
There's a lot of reasons forthat beyond the economy, by the
way, because there's a lot ofpeople that had their best year
(37:16):
ever last year and they live inthe same bad economy as you do,
right?
So in your world it may or maynot be the bad.
You may think it's the badeconomy, but in reality is how
you're running things.
That's a harsh reality thatmany of you unfortunately have
to face.
It's easier said than done.
It's the same thing in.
You know, if you're strugglingin your personal life and you
(37:37):
know whatever it is, you can'tlose weight and you say I have a
slow metabolism.
That's why you got other peoplethat are losing weight and in
great shape with slowmetabolisms.
This is kind of a look in themirror type of life, whether you
own a business or you're anemployee out there or all in our
personal lives.
Most of the time, whateverissues we face, if we just look
in the mirror and understand,look, if we just change things
(37:58):
to do what other people aredoing when they're succeeding in
the same conditions, I can getout of this stuff.
But you know, podcast, podcastfor another time.
But this third one this is oneof these things that definitely,
depending on your businessjourney and where you're at,
will be dependent on how muchyou're willing to offer.
But it's a paid in fulldiscount.
(38:20):
A lot of you out there don'toffer.
I think it's a huge mistake tonot offer relatively small.
They don't have to be massive,but just things that are
actionable, items that getpeople to say, yes, people like
discounts, I don't care whatindustry it is.
There's a reason why whensomebody says, hey, buy the, you
know, buy a pair of shoes atfull price, get the second at
(38:40):
50% off, why they sell moreshoes.
People like deals, so you knowgiving them.
Let's say you have an Invisalign, you're trying to convince me
to buy Invisalign and yourstandard pricing is $7,000.
As an example, I think and wevery much believe as a company,
and what we teach all businessesout there is to drive behavior
(39:02):
now, because what you have tounderstand is if they walk and
they say, let me think about it,the time, energy and effort
that you put in to chase themdown and get back is more than
if you just would have said,look, if you buy now, we can
give you $250 off right, and.
And.
Or if, if you buy now and youpay in full, you get an
(39:22):
additional $250 off, which endsup being a $500 total savings.
Now, on the paid in fulldiscount, depending on where you
are, you probably are going tooffer more than if you're doing
really well with cash flow.
You're not going to give awaythe farm.
But I will tell you the way manyof you look at numbers out
there.
It drives me nuts because youmay say, okay, $7,000,
(39:45):
invisalign case, using that asan example, if you are in
desperate need of cashflow, makethem an offer.
They, they, you know.
If you make them an offer of$250 to pay in full as a
discount, eh, you know, probablynot going to drive the needle
as much as you say look, if youstart today and you pay in full,
we can give you $1,000 off.
(40:05):
Now you may be going.
Brian, that's crazy.
Look how much money I lose.
You don't lose anything Ifyou're looking for cashflow any
day of the week.
$6,000 is more now than $7,000in a year or 18 months.
See, this is the piece that youhave to wrap your head around.
Is that on paper, today you'relosing money, right, but the
offer may get them to start whenthey otherwise wouldn't.
(40:26):
So you're not losing any moneythere.
And because of inflation, thedevaluing of the dollar, how
expensive things are because ofthose two things, etc.
$6,000 now is way more than$7,000 in 18 months or whatever.
However long the payment planends up being, you got to
remember that you are not losingmoney, especially this goes
back to if you don't need cashflow.
(40:48):
Still, you may not offer thethousand, as I just said, but
still if you get the money today, you pay yourself more.
You could go invest it, likeright now.
I think it's great investmentopportunities with a lot of
things out there right.
So maybe you just take thathome and go invest it when
otherwise you may or may nothave that cash to do so.
So again, a lot of times thepaper data lies not all the time
(41:10):
, but most of the time it'slying to you.
I used to say like it was a$50,000 service to be like
please please.
I'll give you whatever you want.
Pay me 10,000 now, I'll dowhatever it wants, right, and
you almost get into thisdesperation mode.
But for many of you out there,you can relate to this.
You're like, look, I'll take$3,000 now, over $6,000 in two
(41:33):
years, if it allows me to buildsome cash flow, to give me the
peace of mind to have a business, peace of mind of knowing my
business is going to be around,have a business.
I keep peace of mind of knowingmy business is going to be
around and, like I said, goingback to business is obviously
not all about data.
If the cash flow is there andit makes you feel healthier and
(41:54):
less anxious and you sleepbetter and you do a better job
as a leader, you do a better jobas a salesperson out there,
you're better with yourcustomers, you're better with
your prospective customers,you're better with your
employees.
That's what I'm saying.
Is that, then it's worth it.
And I'm not telling all of youout there to give $3,000 off,
but I'm simply telling that youshould offer a paid in full
(42:14):
discount and, depending on howmuch you need the cash flow, be
aggressive with it.
And if you're somebody thatalready has cash flow flow, it's
a mistake to not still offer adiscount.
It doesn't need to be asaggressive as when you need it.
But again, going back to, howdo you know that you're not
going to need it in six months,a year, three years, right?
(42:34):
How do you know that thingsaren't going to go from really
great to not so great to reallybad?
Like you don't, and that is whyyou have got to be proactive
with these three strategies.
One, seek loans personally andprofessionally when things are
going well, if you have thatopportunity.
Two, call your customers andask if they want to refinance
the rest of the money they havethrough your trusted partners.
(42:57):
Do not say third-partyfinancing, say trusted partners.
That's something you can adaptwhen you're presenting money.
Do not say third partyfinancing, say trusted partners.
There's a lot of reason for it.
Third party financing is atrigger word.
You do not want to use it.
Podcasts on trigger wordsdefinitely for another time.
Okay.
So reach out and be proactivelyand try to get 20, 30% of the
(43:19):
people paying you in-house torefinance their loan externally
through a trusted partner.
You will take that cash and putit in your bank account in one
to two business days and lessenthe stress of chasing money down
because they're not paying youanymore, all right.
Third, offer paid in fulldiscounts and be aggressive with
it.
Especially, the more money thatyou need, the more cash flow it
(43:40):
is.
Do not nickel and dime yourself.
Do not trip over dollars topick up pennies.
If you need cash flow or you'refearful that you're going to
need it tomorrow or in thefuture, being aggressive with
those paid in full discountsmake complete sense, right, you
don't need to offer $1,000 or$1,500 or something like that.
That may be ridiculous, butalso, you got to remember.
(44:01):
You know there's all kinds ofstudies on this out there, but I
saw one recently where averageAmerican savings accounts right
around $600.
Right, so you know people don'tusually have a bunch of money
to pay in full.
So if you're not beingaggressive with it, if you're
saying $250, that may be fine ifyou don't need the cash flow.
But if you need it, it's notgoing to drive action as much as
(44:22):
it otherwise could.
Right, and again, if you don'tneed it doesn't mean you're not
going to have in six months,right.
So be proactive on the loans.
Reach out to your customers andrefinance them and lower their
monthly payments.
It'll also help you with cashflow and be aggressive with your
paid and full discounts Threeways to be proactive and
(44:42):
instantly increase your cashflow, both personally and
professionally.
Hope everybody enjoyed today.
As always, if you enjoy thepodcast, give us a thumbs up.
Tell your friends, family,colleagues about the podcast.
As we continually grow, I meanwe are getting listens in.
I mean Dubai, france, australia, japan.
I mean this global listeningbase is just growing and growing
(45:05):
, and then obviously a largebase here in the United States.
And so, loyal to all of you, Ilove you all, appreciate it so
much and until next time we'llsee everybody soon.
Bye-bye.
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