Dr. Rich Post-Covid Week In Review
Week of June 15th
"Five to Stay Alive and Thrive Post-COVID"
Click The link Below To Download The Transcript PDF
You can also read the full video transcript below ( :
Dr. Rich: Hello everyone. Dr. Rich, Rich Castellano, the Smile Doctor. Today here with our week in review. And we have had an amazing week serving our patients, being the best versions of ourselves as we possibly can be, listening deeply. We definitely need to listen deeply. And in this video, I'm going to share with you. I have a new realization, our "Five to Thrive and Stay Alive Post-COVID." Or "Five to Stay Alive and Thrive Post-COVID" for some of us, if you're focused on staying alive or whether you're focused on thriving, but they're both in there. And what I've found working with doctors all across the country is that the most successful practices do all five of these things. And when I thought deeply about why we're succeeding and why we're growing even post-COVID and all the chaos, is because we're doing these five things and we focus on them relentlessly and master them.
Now, this is critically important because a lot of practices aren't even aware of these five things. It's not even on their radar. And even if a practice is aware of these five things, are they focusing on them and mastering them? Because there's so many distractions and so many things out there grabbing our attention. We have got to stay focused. So I'm going to get right into this. And this will also prevent reinventing the wheel, prevent delaying your success, prevent submarining, going too low before you start to grow. We don't like those lean times. So let's get started our "Five to Stay Alive and Thrive Post-COVID."
Number one, you must have great treatments and great prices. Now what do I mean by this? Okay. So great treatment seems pretty obvious. So are your treatments great? Are the? Or are they just average? I mean, look, when I started out doing facelifts, the facelifts I do now are way better than when I started. They were great facelifts, I think to begin with, if I do say so myself, but I've gotten a lot better. So I have great treatments, great facelift, great fillers. When I first started doing fillers, my treatments were not as great. Have you really mastered what you do? And if you haven't, we need to find that for you. You need to get the training, go to YouTube, go to the webinars and get great ... You must make sure you're doing great treatments and be honest. Are you getting happy patients? So that's critically important because there are some places that need some improvement there. But what do I mean by great prices? Great prices doesn't mean it's just that you're the best price in the block. What a great price?
Great prices to claim your value, to grow your business, to show what you're worth. So what is a great price? Well, when you first start out and if you're not having great treatments, or you're just getting started, then you're going to match other people's prices often and price reflects experience and quality of service. Or sometimes just the convenience. Or a combination of the three. So what's important to recognize is are you just your bottom price? How many practitioners who are amazing and do great treatments, but their prices are awful? They're giving it away and they're working so hard and they need to raise their prices because they're worth it. And because the market will pay it. And I got my little alarm. The market will pay that and you will get a higher quality of patients. So you need great prices.
Now I go in-depth in another video. That's something, if you have questions about this, about, "Well, how do I get my pricing right?" Let me know, reach out, respond to this email and we'll help you with that. But that is a very specific thought process and a system. How to get the right pricing. How do you get the great treatment? If you need that insight on that, I'm happy to help you with that as well. But you need a great price to grow your business and to communicate to the patient effectively and to the market, what you are delivering. So you've got to claim your worth. So that's number one, to stay alive and thrive.
Number two. The most successful practices that I work with, they do all five of these things. They have great treatments, great prices. And number two they have, they engage the team positively with expert training. What do I mean by this? So you got to engage the team. You must train your team. So are you training your team quarterly, monthly, weekly? How often should you train? Depends on your outcome. How good of a result would you like? How well would you like your team to interact with your patients? How high level of service do you want them to offer? If you want a higher level, Ritz Carlton does 200 hours of training before they let their team members interact with the clients. Then you need more training at least once a week, 30 minutes to an hour, you need to engage them. So that's engaging the team positively, not you're cracking the whip.
"You better do this or else you're going to get fired." I'm just like, "Oh." You can make a fear environment work, there's no doubt about it, but it's just not longterm. People get burned out. You get burned out. I don't want to be burned out. I don't like being burned out. I've been burned up. I don't want to do it again. So now I want to engage them positively because we're going to do this the right way with expert training. You know all the things you need to train your team. You know, but are you an expert at training it? And do you have the time? Let's say you are an expert at training, but you don't even have the time because you're busy and they should figure these things out. You need to engage them positively with expert training, get an expert, get a consultant. Obviously we have our online coaching and mentoring programs, which are amazing, but get something that is expert that has been thought out in advance.
So your team can train on these things and they need to train just once. No, it's an ongoing process. If you want to have the greatest physique in the gym, you've got to train regularly. If you want to have the best business, you need to engage the team regularly with positive and expert training. Not DIY, we can get by with DIY. We can get by. You can get by, but you don't want just enough, just enough will grow your business just enough and not really delight and put your patients over the moon and make your business what you really can. So that's number two.
So of all my most successful practices, third practice to grow that they focus on consistently is daily and weekly sales funnel metrics. What do I mean by that? Daily, weekly sales funnel metrics. So at least weekly, but preferably daily. How many leads are you getting in every day, every week? How many consults did that convert? What was your conversion rate lead become a consult? How many consults showed virtual or live? What was your conversion rate? How many closed? What's your conversion rate there? What was the dollar amount they closed for? How many that closed stayed? How many cancels? How much are you spending on marketing? What's your conversion? What's your price of acquisition? How much did it cost you to get that lead in? You've got to know your sales funnel. What are your highest selling treatments? What percentage of your practice is surgical nonsurgical or filler versus laser hair or whatever the breakdown is for you? What is your sales funnel? What is your sales funnel? You got to know that data. If you don't, I can figure it out. I'm just shooting from the hip.
It can work, but don't do just enough. If you really want to be the best, you need to know this. How well do you know the anatomy when you inject the face? I kind of know of the arteries and vessels, they're kind of here. I'll stay away from that area, kind of. You better know you can have some serious complications and you don't want serious complications in your business. So how do you know that? Awareness. This is consciousness in your business. Be present with your business. Daily, weekly sales funnel metrics, number three.
Number four, to stay alive and thrive in post-COVID video marketing, which gets lead-generation and testimonials. Show me any marketing plan that has no video marketing component and 99% of the time it's DOA. Sure. There may be an exception. Well, my reputation is big enough. I don't need it.
Okay, great. But in today's world, the majority of us do need to educate our patients. And if you have something so sensational, that patients just come to you or you're that good. Congratulations. I'm proud of you. And what I've seen over time is that does tend to fade because people are looking, they're researching. The market is vast. Market is so big. And our biggest problem is obscurity. People don't know that we're here and truthfully we can't handle the volume. The rate-limiting factor is connecting with these people, getting the videos out there. You're amazing, right? Why not share that with the world? Don't hide your light, let it shine and get it up there. Video marketing, you must master this. You must do it on a regular basis. At least be in the game and the more do it, the better you're going to get. So just recognize.
If you're deficient here, great. Now you have an opportunity to build it up. So video marketing to get your lead generation and get your patient testimonials. When a patient gives a testimonial on video, that is a part of their experience in their brain they will never forget. They give a testimonial, it feels good to give a testimony. When I brag on someone, "Oh my God, I bought this product. I love it. It was great." I feel good just doing that, and what's the likelihood I'm going to buy again from that product? Now that I have testimonialized them. Video marketing, get your lead generation and testimonials.
And number five for staying alive and thriving. Master inventory and your schedule. What does that mean inventory? I'm shopping at the grocery store, there's inventory. We have a finite inventory. If you're open from 9:00 to 5:00. Your inventory, you got eight one-hour blocks or 16, 30-minute blocks, or however you're going to break that up. That is your inventory. And as the saying goes, "When the plane takes off, if the seats are empty, they didn't fill their inventory." So what is your inventory? Do you even know how you're filling it? So you may know in a general idea, but how are you utilizing your inventory? Are you filling your schedule with things that are going to convert? Now obviously some people say, "Well, that's a simple discussion because just fill it up with procedures and whatever's left procedures and treatments and whatever's left. Then you can put in the consults and follow-ups."
So okay. But you really want to analyze and understand. So your team can set goals because sometimes they may be pushing off cash-paying treatments, or getting your happy patients and making them happy, pushing them off. They say the schedule is busy. Well, you can start to prioritize something because there may be some follow-ups that are not as high a priority. So when you master your inventory, instead of pushing off cash-paying treatments, and your team may be doing this, they're filling the schedule, but they don't realize that, "You know what? If I just moved this procedure up one more week, you recognize that bumps our sales for this month? And now we can do that again, but with those followups? We can absolutely see them a little bit later. Now if they're urgent, get them in." But mastering your inventory and mastering your schedule.
So if you really analyze your schedule, you'll see that there's a lot of time that we may waste our focus on things that are not that important. And time management is critical because that is one of the most valuable resources we have. So show me your schedule and I will show you how successful. I will have a wonderful idea of how successful you really are, and I'll also see where your greatest opportunities are. I've talked with doctors that they're so busy. They say from 7:30 morning, till nine o'clock at night, they've got things to do. And they just can't stop because there's work to be done. Patients to be seen. It's time out, we have to be thoughtful about this. Are you really at your best if you're just going all out and putting everything in?
We need some breaks in there. We need to adjust your schedule according to you so that you are able to deliver your best, not just cram everything in there. We want to be thoughtful about this. Just like we're thoughtful with scheduling a patient. We've got a certain amount of time, let's do the treatment, set up your inventory in your schedule, in your office, personally mastering your schedule. I have someone I go over my schedule with and I say, "Look, here's my schedule. Is there anything I don't need on this? Or what else can I add here that would make value for this week? What did I really love about last week?" These are the things we want to do master inventory and master your schedule.
So let's go through that just to review; great treatments, great pricing. All of my practices that are most successful, this is what they do. The doctors that I've worked with and seen time and time again. We are engaging the team positively with expert training. Daily, weekly sales funnel metrics. Drum roll please, video marketing. Master your inventory, master your schedule.
It's always a pleasure. Let me know if you have questions. I'm so excited for you. We can thrive during these times. There's a lot of chaos and the market has been disrupted and that is a time we can grow and thrive and the world needs us. They need our positivity. Our patients need us. And I do believe we can change our world. One positive patient interaction at a time. One team member engagement interaction at a time. One video at a time, one injection at a time. You don't have to save the whole world all the time right now. We make our difference right here right now, even if it's just within.
Thank you for watching. Remember everything worthwhile starts with a smile, share with a friend that you know needs this, and I'll see you in the next video.
© 2020 PracticeProfitabilityMD.com