New Patient Group Podcast

Three Proactive Ways to Increase Cash Flow in your Life and Business NOW!

• Brian Wright • Season 8 • Episode 122

Share episode

Send us a text

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

Install Five Star Hotel and Michelin Star Restaurant Experiences into your Business/Practice to Skyrocket Culture, New Customers (New Patients), Sales, Revenue and More: https://newpatientgroup.com/

Let us Answer, Speak as your own Team Member, Remote into your Software and Schedule your New Patients at: https://wrightchat.com/

Book Brian Wright to Speak at your Event: https://newpatientgroup.com/book-brian-wright/

Schedule a Free Business Consultation at: https://calendly.com/stephanie-npg/30min-1?month=2025-03

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.

Speaker 1:

YouTube followers. Listen up very, very closely because you're probably scared looking at me going. What in the world happened to this guy's face? Guys, it's all good, had a shrimp allergy. I took some sushi, or ate some sushi. They told me shrimp was not in it. It was supposed to be crab. No, I'm not allergic to shellfish, it's just shrimp. For whatever reason, anybody has answers to that out there. Please let me know, because I'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 a problem with cooked I've never eaten cooked, but fresh I sure do.

Speaker 1:

I have different things that happen and it's been a long time. Well, this time my face swelled up like a good year blip. It is bright red like I got burnt from the sun. I am swelled up all over the place and I wanted to make sure all of you out there, especially those that are seeing me for the very first time, understand this is not how I look all the time. So I just wanted to clear that up for everybody who are watching Audio experience listeners out there. If you're intrigued, go check it out. If not, just listen and you'll be good. But hey, everybody, welcome inside the studio and today, listen very closely.

Speaker 1:

Cash now is always more important than cash tomorrow. It's always more powerful. It's always worth more than cash. Tomorrow, you may be somebody out there that's in dire straits. Your business may be new, you're looking for it. You may be 30 years old in your business and you're struggling and you're saying, okay, how can I use some really cool, innovative ways to build my cash flow now? We doing everything in our power to get it. But oftentimes when we have it, we relax a little bit, right. It makes us feel good. Maybe your anxiety goes down. I'm going to talk about that today here, a little bit on what it does for me when we have cash flow versus maybe we're struggling with it for whatever reason. So, regardless of where you are in your business journey, if you need it desperately or you're ahead and you already have it, don't get relaxed right. Don't be reactive whenever you're looking for cash flow. Be proactive, and that's what we're going to be talking about today is three proactive strategies and you're going to like these. That is going to increase your cash flow both in your business, but also we're going to reference back on how you can do the same type strategy, the same thinking, the same proactive mindset that business owners, entrepreneurs, have out there, how you can do this in your personal life, if maybe you're an employee listening out there, or whatever. It may be Really good one for you today. That, I think, is going to help a lot.

Speaker 1:

Also, and I said this on the last podcast we now have an official launch date of the rebrand of the new patient group podcast. We are going to be rebranding it into the Brian Wright show. The first episode that's going to be coming out in May. First business day of May is when we always release that first episode. Just to let everybody know, in case you don't out there, it's going to be rebranding to the Brian Wright show. Now you don't have to do anything. The last podcast episode make sure you go out and check that. Go check that out, because I go in depth more about that than I'm going to do today.

Speaker 1:

But we're rebranding it for a lot of reasons. One, the rebrand is going to happen within our current hosting company, so just the name of the podcast is going to change. If you're already downloading, you're already a subscriber. There isn't anything you need to do other than look for the new name that comes up in your podcast feed. Okay, don't worry about going to a different channel and a new subscription downloads nothing. It's just going to come up as it normally is. It's just going to be under a same name.

Speaker 1:

If this is new to you and you're maybe checking in for the first time, I referenced this more in the last episode. Like I just said this more in the last episode. Like I just said, but the reason we're rebranding is look, we help. Our message help businesses and entrepreneurs and really anybody that wants to transform life, career and or business. Our message is for all those out there If you're somebody that wants to get more out of your life, career and or business, our message resonates.

Speaker 1:

Our expertise is used by companies all over the world. Our niche, however, starting many years ago, we found a niche in orthodontics, dentistry, other healthcare professions, because the stuff we teach leadership, sales, hospitality, verbiage, consumer psychology, experience, etc. Etc. Etc, etc. It applies to any type of business, but that niche is because if somebody types in braces or Invisalign on Google as an example, boom. You have 10 options, which automatically puts you into the people first business no different than a hotel, a restaurant and every other entrepreneur's business on the planet. A lot of cool new episodes coming out. It's going to just get better for all of you, but it's also going to challenge you, like we've always done on here. It's going to challenge you, challenge you, challenge you so you do get the most out of your life, career, business. So, before we start today with this good three proactive strategies to increase cash flow in your life and your business, let's go ahead and fire up the new upcoming music. Once we make the official change, you're going to get a new intro to this.

Speaker 2:

Let's go ahead and fire it up now and we'll see you on the other side. Welcome to the Brian Wright Show 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 CEO of New Patient Group and Right Chat, and a consultant and global speaker for some of the finest companies in the world, such as Invisalign and many others.

Speaker 1:

Now here's your host, brian Wright. It's double your new customers Overnight by mastering this. One skill was our topic and have a lot of you out there. You know you've jumped this, you've already seen it work. You've already got some starts from it, some sales from it. Very proud of you. You know almost anything in life. All of you have to remember and there's exceptions to everything but almost anything in life, your career and or your business out there, the best way to go about anything is implementing it faster than everybody else. Not perfecting it, not even being 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, but some of you on the mastermind and right after right, you jump to it and boom, you added sales. You jump to it and boom, you added sales, you added revenue to the business and eventually those people are going to become a referral stream that otherwise never would. So very, very proud of you.

Speaker 1:

Have our upcoming in-person session in Scottsdale, looking forward to seeing all the customers out there and spouses and we're going to go for a three-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 everybody at our upcoming in-person event in scottsdale, arizona. And awesome that we have our upcoming march iconic. March 27th through the 29th we're going to be having people fly in all over the country to our training, our training facility here, and it's our very first iconic ever dedicated at the clinical assistance out there. You know it can be so easily lost by all of you understanding that 90% of what an assistant does for you is non-clinical their communications, their sales abilities, handling tough conversations when a kid isn't compliant but the parent thinks the kid can do no wrong. How they greet, start appointments, how they interact with each other. There's so many things that they do and there's really no event. There's no event like Iconic in existence period, certainly not an event like this Target at Assistance. And then October everybody and when the landing page is ready we're going to be putting it down in the description below we're going to have our full team event, october Iconic, here at our training facility in Colorado Springs. It is going to be unbelievable and we're looking forward to packing the house. We already have verbal commitments and registration will be opening once this Iconic gets finished and we move into April, registration officially will open on our website shortly thereafter. So look for the first week, second week, that kind of thing in April. A lot of amazing, amazing things going on and so blessed all of you out there who are customers and being a part of our family means the world as you know it does Today.

Speaker 1:

Diving into a topic like we talked about in the intro three proactive strategies to increase cashflow in your life and your business and I was walking to the other day my family, we were in downtown Manitou and Manitou is basic. It's right outside of Colorado Springs, it's basically Colorado Springs and it's beautiful, so it's at the base of the mountains, really neat, eclectic downtown and we're walking around downtown with with Kristen and the kids and we come across this, this olive tap tap which we get our olive oil there, and I trust it. If you've never seen the Netflix documentary on what the mob has done to the olive oils all over the world and especially here in the United States, it's a really cool documentary. It's also scary Like the majority of the olive oils here on the shelves in America are tainted with canola oils, fake stuff, lubricants, a bunch of different stuff. It's a very interesting documentary. So you know we're very health conscious, so you know we want to make sure we're getting a lot of olive oil. It's very good for you and anyway.

Speaker 1:

So the olive tap is a place that we trust, so we're going in there to get some more olive oil running low. And there's this table set up outside and there's this husband and wife who now listen to the podcast. So I'm going to give you a free shout out here and some free publicity, because I believe in family owned businesses and I want you to succeed and I appreciate you now subscribing and listening to the podcast and this is why I know us rebranding the podcast to the Brian Wright show is so powerful and it's the right thing to do because, as we're going to the olive tap, they had a boost set up out there and they're giving away some. You know some free breads and things like that and they're beautiful that you know only a few ingredients, which is all you need. You look at the bread in the store as like 90 and it should be legal. A lot of the ingredients are illegal in countries all over the world except for here, so we're looking at that.

Speaker 1:

You know we buy some bread, we get into some some business discussions and, and I think what we talked about is going to help them and certainly this podcast is going to help them and you know, helping helping businesses all over the world for so many years. I'm really pumped to still have our niche. Our niche will always be what it is, but just open ourselves up to to more listeners, a broader audience and bringing in more guests. Matter of fact, the founder of Cisco reached out to me via email and I think I'm going to have him on, and that's what I'm talking about Just really pushing all of you out of your boundaries by having some more podcasts with guests that come from outside your world, your industry, and just again heading back to transforming businesses, transforming lives and careers, and obviously we're very passionate about it. And if you go to Instagram and go to lakes underscore bakes, follow them. All right, let's build that family-owned business with organic breads. Let's build their Instagram and I want to give them a free shout out again lakes underscore bakes, follow them, order some stuff from them and, and I hope you guys do really well. It was a pleasure talking to you and I hope you take my advice. Hopefully it helps and as you continue to listen to this podcast, as it's helped thousands upon thousands all over the world, it's going to help you too.

Speaker 1:

Let's dive in today, guys. The very first one if you're a brand new business and this is the part of going out and seeking cash flow that can be hard is that oftentimes, when you need it, you can't get it. If you show a bank, hey, we're declining, our revenue is going down, or I don't have any revenue, or I do have revenue, we're only even in business a year and a half. Banks are in business to make money, obviously, so they are going to measure their risk and calculate whether or not it's worth it and things like that. So when you need it, the most oftentimes you can't get it, which that in itself is why you always want to be proactive. It's a very bad way of looking at 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 about it needs to be reversed. So this may number one may or may not help you, but the very first one is when you go out and seek business loans.

Speaker 1:

Many of you out there, like I just 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, if you're a business that is doing well, you're happy with your cash flow, your sales are good, they're on the up, the revenue is on the ongoing up and up and up and your business is healthy, that is when you go out and you get a business loan. That is the opposite of how so many of you out there think, just in general. I mean, we are reactive animals, as is you know. We we get overweight, we try to lose weight, we lose money, we try to make money. Our marriage goes to hell, so therefore, we seek counseling to try to improve it. Right. How many people have a marriage counselor when their marriage is going really well? Not many. How many people work out and push themselves to stay in shape and are always looking for the next workout to do, to constantly be shaking up their body before they need to? Not many.

Speaker 1:

So this is one of the reasons of many why many of you out there are reactive business owners and why you need to change that way of thinking as it relates today obviously in many different ways. But, as it relates today's episode is, you need to change that way of thinking with your business loans, because if you're somebody that has healthy cash flow and your business is doing really well, I am teaching you to go out and get one, for a couple reasons. The second one is non-statistical. It's going to be more of a health reason that I'm going to describe to you all the way I look 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 probably more money than you would ever dream of even needing and therefore the cash flow you have will be able to double, to be able to triple, and therefore and this is the mistake so many of you out there are going well, I don't need one as it stands today, yeah, but tell me what tomorrow looks like. Tell me what six months from now looks like. A year, two years from now, what does that look like?

Speaker 1:

And none of you know, no matter how good you're doing today, no matter how bad you might be doing today, things could flip and the person that's struggling today could be outproducing somebody that's doing great right now, but then they start struggling in a year, this could flip, and what you don't want to do is go seek that loan when the shit hits the fan, and that is what so many of you out there unfortunately do with your businesses in general. Right, you wait to your new customers, your new patients are dropping and you go out there and you try to fix the problem. Your conversion, your sales conversions going down you go out there and you try to fix the problem. No, when you try to fix those problems is when you're doing well, right, hey, my conversion is up. What can we do to make sure it stays there and continually goes up?

Speaker 1:

Well, you've got to innovate. You've got to install change in your culture. You've got to also be consistent and repetitive with what you've worked on in the past. Where those skill sets don't go down, right. So you've got to be proactive, just like you have to be proactive with your business loans.

Speaker 1:

And it's hard. Like you may be going hey, I don't need it. So I'm really going to take a 3% or 7% hit on interest. My answer is absolutely right. You can either do that and go invest it, and this is the same way in your personal life. Right, this is going to be the smaller portion of the conversation today, but if you're taking home good money and you're happy with your income, that is when you go out and get a personal loan in your life. Right, because you don't really need the money. You can go out and invest in money. Invest in that or use that money to invest and get a larger return back than the interest rate you're paying back for loans. You know to invest and get a larger return back than the interest rate you're paying back for loans.

Speaker 1:

You know, a very common trait of billionaires and people of the ultra, ultra wealthy is they use debt to build wealth. Many of you out there may follow Dave Ramsey and I, as an entrepreneur, disagree wholeheartedly with everything he teaches. I do not agree with any of it. And if you can look at the billionaires, the ultra wealthy maybe they're not billionaires, but they're ultra wealthy they are consistently using debt to build wealth. They'll take a $100,000 loan and they'll go invest the $100,000 and get a 20% return when they're only paying back 5% on the 100,000 to the loan. You see how that works, right? You just made 15% that you otherwise couldn't have made if you didn't have that $100,000 loan. They are constantly taking loans against their business, constantly taking loans against things in their personal life, and they're going and investing in that money. So, again, they're being extremely proactive about it.

Speaker 1:

And as an entrepreneur and this is 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 Dave Ramsey is an idiot, doesn't know what he's talking about. No, his philosophy applies to a lot 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, it doesn't, because a lot of those things are deductions that save you on tax dollars at the end of the year.

Speaker 1:

But back to the first point. Look for business loans in your personal or in your business life, and also, again, for personal 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 a business that right now is today, is struggling. So some of these number two and three is gonna help you there, but one may or may not help you. But for many of you out there who are doing well, seek, and again, you don't have to be crushing it right. So even if you're doing okay, right and you can show the bank some positivity that they can look at and go, look, we can take this is worth the risk, go out there and look for the loan and put that money in your pocket. Now, way two of way one.

Speaker 1:

A minute ago I said there's kind of two reasons or two ways that I look at this. First one that I'm talking about. The other one's kind of a non-statistical thing. So I feel I do a much better job 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, right Chat. I have others when the cash flow is great in those businesses, my anxiety drops, I sleep better, my mind functions better, I feel better, I feel more healthy and I get behind the mic or on stage or on non-demand course or in some of your businesses, whatever it may be, and I believe I perform better because those things are not on my mind. And that's one of those things again, that getting a loan for me because I perform better, we end up making more sales because of it, we keep people longer because of it, the experience of our customers is better because of it, things like that. So that's one of those off-paper things that, for me, always makes it worth it.

Speaker 1:

Because even if you're paying back let's say 8% and $100,000, just using that as a simple example but even if that's what you're doing and you don't necessarily need the cash and let's say it just sits there and you never use it a lot of people would be like, well, you just lost money and in the scheme of things, you're right. But if it makes you feel the way I just described, the money you lost, you're going to more than make up by your business just simply performing. Well, if you're struggling with cash flow and you wonder if you're going to be around tomorrow, it is really, really difficult to then go do your job and be a great chef, be a great clinician, be a great motivational person, business life coach like myself. It's very, very difficult to do that at the same level. So you see how that works. Right, by doing it at a higher level, you can make that 8% that you lost back, because you're going to be better, you're going to make more sales, add more revenue things like that to the company. So those are a couple of reasons.

Speaker 1:

Be proactive, and a lot of times again. If it's going to help you produce better, like I just described, it may be worth it in itself. But, main thing, if you're going to take the loan, you want to have a reason to go use it, hire somebody, invest in something. You want to have something where you can go and use the money that produces a larger return back than the interest rate that you're going to pay the bank Anytime that that's the case, the loan makes sense. You all have to make your own decisions Sometimes.

Speaker 1:

This is the way it was in the beginning with New Patient Group. I begged people to pay in full back then like $50,000 a year service and be like please, can you 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 a while, and obviously you're not going to do that the more mature that you get and I'm going to talk about that concept a little bit more here when we get to number three today.

Speaker 1:

So be proactive with your loans. Everybody, very, very important. And if you don't have anything like. You don't need it, there's nothing you plan on investing. You have to make the decision. Does it make sense for you? But I will again tell you just because you don't need the money today or don't have anything to invest 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 in desperate need of that money for whatever reason. Just keep that in mind. Be proactive, because the moment you need it, you're going to get a worse loan, not as much money, a worst interest rate. Do you see how all that works? Be proactive with your loans.

Speaker 1:

Number two, and this is something that we did with a lot of you out there during COVID and our customers rocked it. During COVID, I saw a lot of people struggling out there, our 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 speaking on webinars. Everyone was just stuck at home, and it's really when we started, even though we had been around a long time leading up to that. That's really when we started getting more and more known in our niche area, and we did really well too. That's really when we started getting more and more known in our niche area, and we did really well too.

Speaker 1:

But one of the things that I want to talk about now is something that I think is really innovative, 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 of those things where if you want more Google reviews, you have to ask for them. If you want more video testimonials, you have to ask for them. It drives me nuts. You could go in and out of a thousand restaurants and the waiters never ask. It's just asinine, right? It should be part of and for the restaurants we work with. This is part of the program is training the waiters how to ask, when to ask, to make sure you're getting video testimonials from the tables, five-star reviews from the tables, things like that but nobody's walking into your business, going. Can I please give you a video testimonial? Right, you have to ask with intent, and when you do that, you're going to build your video testimonials and have a better YouTube station and a better digital presence. But you have to ask. If you don't ask, you're going to lose thousands of opportunities over the course of your existence.

Speaker 1:

Number two is kind of the same way that I'm getting into. Is that one of the things that we worked with with businesses then and we continue to do this and this is especially if you really need cash. You're like, hey, brian, I need it, how the hell do I get it now? And the bank loan may or may not be the way to go if you're really struggling and you need it, like I need the money tomorrow morning or I have a real problem here. But this also again goes back to if you're successful, your cash flow is great. This matters a lot too, because you don't know if your cash flow is going to be great in six months. You never, never know.

Speaker 1:

So if you go and you look at and I'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, and they're and they're making payments to your business. You have an in-house payment plan, right, so they're not financed outside of your business. And let's say you have 300. If you go, look at the balances of those 300, start with ones that are making payments and let's say they're making payments for a year and a half. That's your baseline. And again, your baseline could be two years. It could be a year. I'm using a year and a half. Go and look at the balances remaining. Maybe that leaves 150 patients, customers, whatever, that are paying you that are a year and a half in. They've got whatever a year left, six months left, whatever it is.

Speaker 1:

Go in there and every single one of them reach out to them and ask if they would like to refinance their remainder and they can extend out as long as 60 months through a care credit and for payments as low as Now. How you do this? For those of you that are in the ortho world, dental world, our niche is that if you go to CareCredit, on their home page there's going to be a loan calculator. Let's say that my family has $1,500 left to pay on our $7,000 original investment in Invisalign with your practice. There's $1,500 left. If you go type in $1,500 into that loan calculator, you're going to get a split screen come up after you hit enter and on the left side you are going to get options with 0% interest which you never under any circumstances present first. Talk about that briefly in just a second, the second side, the right side you're going to get your with interest plans.

Speaker 1:

If you look at 60 months, you're going to get that payment right and that payment could be as low as $43 with no money down. See, a lot of your patients, a lot of your customers, any type of business out there, they need a lower payment. That's why this works so well in COVID is. Many of you out there needed the cash flow desperately, but your patients that were paying you needed a lower monthly payment desperately because likely they weren't doing well either. All right, now the economy is not that good. As I do this podcast today, I have a lot of confidence it's going to get better based on recent switches, but it's not there yet. So if you could reduce an in-house payment plan, maybe they're paying you $185 a month down to $43 a month. You're doing a great service for your customers, for your patients, as well as that money going into your bank account in one to two business days, boom, you see how that works. You're going to have $1,500 minus a 2% fee. That goes right into your bank account. 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 150 customers patients say, yeah, let me do this. You can start doing the math on how much cashflow you can start putting into your bank account and wipe those payments off of your books and lessen the burden on your practice, on your business. To go out and chase it All right. So if you go and again it doesn't have to be people that are a year and a half you could do this with 100% of your patients.

Speaker 1:

There's a misconception that a lot of you have out there that people won't buy with interest. They won't buy with interest oftentimes because of how you're presenting it. Remember framing effect? Go back a couple seasons and listen to that podcast. I did it right before speaking at a dental monitoring event with Alyssa Carter. She and I did that the framing effect together on stage and I think the framing effect is one of the most powerful things we teach.

Speaker 1:

You know how to get people to draw different conclusions based on what they perceive as the same information. That's all done through sales strategy, 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 all over the world. If you refine those skill sets, teach those skill sets, your team becomes great at it. You'll start getting yeses when yesterday you got nos. And this is the same thing for restaurants out there. What we train you on is when your waiters know how to speak, you are going to sell more specials. When your waiters know how to present and sell, you're going to sell the $180 bottle of wine instead of the glass of wine. Right? These are experiences. These are sales through experiences. So how you present this to your patients will ultimately decide how many do say yes.

Speaker 1:

But that is not the podcast for today. I'm going to give you one tip that you must say you must use consensus. So when you reach out, you want to let your patients know how great of an offer it is and how many of your customers are taking advantage of it. Right, this is a very popular offer. A lot of our customers are taking advantage. That's consensus powerful. You leave that out, you will not get as big a return.

Speaker 1:

Hey everybody, brian, right here, let's step away from the podcast. Hope you're enjoying it and let's talk about presentation skills here for just a minute. I just briefly mentioned that presentation skills will really determine how successful you are going to be with number two today, with number two's proactive strategy reaching out to patients and refinancing how much they have left to pay you, and refinancing that through your trusted partners. I am excited to announce that we just came out with a brand new on-demand course and it's the four steps to presenting money and the four essential steps to presenting money to today's consumer. Look, focus, attention span. People don't listen. Everything is on the drop, it's on the decline, which means your presentation skills are more critical than ever before. Plain and simple, your sales abilities, consumer psychology again, knowing what to say, when to say, how to say, why to say all of those great things that we teach. Well, this four essential steps of presenting money to today's consumer is going to transform your conversion. It's going to transform your sales. It's going to get more money down, increase your cash flow, which is today's topic and it's going to teach you a lot of advanced presentation skills on how to simplify a lot of things that a lot of you unfortunately out there make very complicated when you don't need to.

Speaker 1:

On the preview video, I'm going to put the link to the landing page in the description below. When you watch the preview video. Do the role play with whoever presents money in your business. Do the role play when I say play me again. Right, when you come back to that video, I am going to have up what they said. I already know how they're going to do it. And if they said anywhere near what I say in that preview video that you can see on the landing page, you need this course, right?

Speaker 1:

This course is also going to teach you something about time. I'm about to give you something here that's going to help with number two whenever or number three that I'm going to talk about today, excuse me, whenever you're talking discounts, right? If you're going to offer a paid in 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 will teach you more. It will dive into the psychology of why how to flip your verbiage whenever you're offering discounts, you're going to get a better result.

Speaker 1:

Okay, I'm also going to put a QR code that is going to be in the description below. Use that QR code when you're checking out. It'll give you a hundred dollars off of this course. It's a course you can keep for life, and for those of you that come aboard as private clients with us and we're coming to your business and we're helping you on an ongoing basis, role-playing all the things we do, we will refund you that money. If you have bought a course in the past and then you join us for our private coaching sessions, we'll refund you that money as part of this offer as well. 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 of great stuff that is going to help your business tremendously across the board cashflow, sales, et cetera. Take advantage of it. I'll put that description, the link in the description of the podcast below Hope you're enjoying today. And now let's get back to today's episode.

Speaker 1:

So we have step one get a business loan whenever you don't need it. Many of you out there can relate to this and go damn. You know my business was doing really good. You know, four years ago Then we hit a stall point and we thought the stall point was going to be temporary and it wasn't. It lasted a year, and now it's continued 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 on an upward trend. All right, remember that. Very powerful Personal life too, like I said.

Speaker 1:

Second way, reach out to your customer base and ask if they want to refinance the rest of what's left over, that they have to pay, right, and using the payment calculator before you call them. Right, you can have this conversation as patients or customers walking in and out of your door. You should have this conversation with every one of them as well. If you're looking to increase cashflow is stop them, have the conversation with them. And and, like I said, you don't need a hundred percent success rate, you don't need an 80% success rate. Look for 20 to 30, right, and the better you get at presenting, that number will go up. But if you just if you just look at 20 to 30%, saying yes, that could be tons upon tons of money that goes into your bank account in a couple days.

Speaker 1:

And remember the reason. Why is two reasons why you offer the 60-month. First One the 60-month is going to be the lowest possible payment to the patient, to the customer. Okay, that's going to be the lowest because it has the highest interest, which means the bank is making the money off of them. It's not making the money off of you, so your fee to your practice is going to be the lowest, the higher the interest and the higher the monthly they extend it. That's why you always offer that first.

Speaker 1:

Now you have to make the decision, depending on how in dire straits you are, of needing cash flow, whether or not to go to 0%. Your employees will always default to 0% because it's an easy sell, but they're not getting hit with a fee. You, as the business owner, are, and those 0% fees are astronomical. They are a lot. But if you're in dire straits of cash and you want to pay an 18% fee in order to get $50,000 in your bank account tomorrow, I believe that's still worth it. Right, and $50,000 right now is probably worth more than $75,000 in a few years. Like inflation, is that bad? The government is printing an insane amount of money every 30 to 90 days. It's really startling how bad the government is screwing with the U S dollar.

Speaker 1:

Many of you know I'm a big crypto investor and that's why, um, I believe it's the future of money. There's all kinds of reasons. The banking system's outdated. You can't trade on the weekends. It takes a while to transfer money cross border. Um, it's an outdated technology and there's so many unbelievable companies with with transaction speeds and it can transfer money in two or three seconds. It's a lot of cool, innovative things in that industry, but my biggest reason for investing in it is because of the devaluing of the US dollar. It's sickening to watch how the politicians who most have never owned a business in their life, how unqualified they are, yet they're in charge of all these decisions. It's very, very scary. But remember one personal loan and business loan proactively when you don't necessarily need it.

Speaker 1:

Two, reach out to your patient, your customer base, and ask if they want to refinance the rest of their outstanding balance and you can reduce their payments. Currently, mr Jones, you're paying about $187 a month. We can get that down to payments as low as $42 a month. There's no down payment or anything needed. Our patients are loving this. We have a ton that are taking advantage of this offer. Would you like to proceed and we can get that taken care of for you?

Speaker 1:

Okay, so that's a mini version of how you would present that. There's other things, but not for today. Okay, I think a lot of you out there. That second one is probably going to intrigue you and something that I think can solve some cash flow issues for you almost overnight if you're having a conversation with people in person as well as people over the phone. Next one, third. This is one of these. A lot of you can relate to this whenever you have a newer business and you're looking in your bank account and you're nickel and diming everything that's going out of your bank account and you're wondering if you're going to be around tomorrow and like I said.

Speaker 1:

I said new business, but you could be in business 30 years and be in this position, right? You could have had 25 years in a row that were just glorious and then the last few have sucked and you're back in startup mode and there's tons of business. We're going to talk about the four stages of business growth in the future. It's probably going to be next season, so that's not coming soon. I don't think, and I try. Many of you know I didn't say this in the beginning. Many of you know I try to tailor the episodes to what's going on in the economy. It's not always possible, but one of the reasons if you've noticed season eight of this podcast, outside of the kickoff episode in January where I had Dr Bob Skopak on all the rest of them, for the most part, have been around growth and sales and, like today, cashflow, because many of you out there are still struggling, right? A lot of the industry sales numbers are down. There's a lot of reasons for that beyond the economy, by the way, because there's a lot of people that had their best year ever last year and they live in the same bad economy as you do, right? So in your world it may or may not be the bad. You may think it's the bad economy, but in reality is how you're running things. That's a harsh reality that many of you unfortunately have to face. It's easier said than done. It's the same thing in. You know, if you're struggling in your personal life and you know whatever it is, you can't lose weight and you say I have a slow metabolism. That's why you got other people that are losing weight and in great shape with slow metabolisms. This is kind of a look in the mirror type of life, whether you own a business or you're an employee out there or all in our personal lives. Most of the time, whatever issues we face, if we just look in the mirror and understand, look, if we just change things to do what other people are doing when they're succeeding in the same conditions, I can get out of this stuff. But you know, podcast, podcast for another time.

Speaker 1:

But this third one this is one of these things that definitely, depending on your business journey and where you're at, will be dependent on how much you're willing to offer. But it's a paid in full discount. A lot of you out there don't offer. I think it's a huge mistake to not offer relatively small. They don't have to be massive, but just things that are actionable, items that get people to say, yes, people like discounts, I don't care what industry it is. There's a reason why when somebody says, hey, buy the, you know, buy a pair of shoes at full price, get the second at 50% off, why they sell more shoes. People like deals, so you know giving them.

Speaker 1:

Let's say you have an Invisalign, you're trying to convince me to buy Invisalign and your standard pricing is $7,000. As an example, I think and we very much believe as a company, and what we teach all businesses out there is to drive behavior now, because what you have to understand is if they walk and they say, let me think about it, the time, energy and effort that you put in to chase them down 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 you pay in full, you get an additional $250 off, which ends up being a $500 total savings. Now, on the paid in full discount, depending on where you are, you probably are going to offer more than if you're doing really well with cash flow. You're not going to give away the farm.

Speaker 1:

But I will tell you the way many of you look at numbers out there. It drives me nuts because you may say, okay, $7,000, invisalign case, using that as an example, if you are in desperate need of cashflow, make them an offer. They, they, you know. If you make them an offer of $250 to pay in full as a discount, eh, you know, probably not going to drive the needle as much as you say look, if you start today and you pay in full, we can give you $1,000 off. Now you may be going.

Speaker 1:

Brian, that's crazy. Look how much money I lose. You don't lose anything If you're looking for cashflow any day of the week. $6,000 is more now than $7,000 in a year or 18 months. See, this is the piece that you have to wrap your head around. Is that on paper, today you're losing money, right, but the offer may get them to start when they otherwise wouldn't. So you're not losing any money there. And because of inflation, the devaluing of the dollar, how expensive things are because of those two things, etc. $6,000 now is way more than $7,000 in 18 months or whatever.

Speaker 1:

However long the payment plan ends up being, you got to remember that you are not losing money, especially this goes back to if you don't need cash flow. Still, you may not offer the thousand, as I just said, but still if you get the money today, you pay yourself more. You could go invest it, like right now. I think it's great investment opportunities with a lot of things out there right. So maybe you just take that home and go invest it when otherwise you may or may not have that cash to do so. So again, a lot of times the paper data lies not all the time, but most of the time it's lying to you. I used to say like it was a $50,000 service to be like please please.

Speaker 1:

I'll give you whatever you want. Pay me 10,000 now, I'll do whatever it wants, right, and you almost get into this desperation 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 years, if it allows me to build some 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 knowing my business is going to be around and, like I said, going back to business is obviously not all about data. If the cash flow is there and it makes you feel healthier and less anxious and you sleep better and you do a better job as a leader, you do a better job as a salesperson out there, you're better with your customers, 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 you out there to give $3,000 off, but I'm simply telling that you should offer a paid in full discount and, depending on how much you need the cash flow, be aggressive with it. And if you're somebody that already has cash flow flow, it's a mistake to not still offer a discount. It doesn't need to be as aggressive as when you need it. But again, going back to, how do you know that you're not going to need it in six months, a year, three years, right? How do you know that things aren't going to go from really great to not so great to really bad? Like you don't, and that is why you have got to be proactive with these three strategies.

Speaker 1:

One, seek loans personally and professionally when things are going well, if you have that opportunity. Two, call your customers and ask if they want to refinance the rest of the money they have through your trusted partners. Do not say third-party financing, say trusted partners. That's something you can adapt when you're presenting money. Do not say third party financing, say trusted partners. There's a lot of reason for it. Third party financing is a trigger word. You do not want to use it. Podcasts on trigger words definitely for another time. Okay. So reach out and be proactively and try to get 20, 30% of the people paying you in-house to refinance their loan externally through a trusted partner. You will take that cash and put it in your bank account in one to two business days and lessen the stress of chasing money down because they're not paying you anymore, all right.

Speaker 1:

Third, offer paid in full discounts and be aggressive with it. Especially, the more money that you need, the more cash flow it is. Do not nickel and dime yourself. Do not trip over dollars to pick up pennies. If you need cash flow or you're fearful that you're going to need it tomorrow or in the future, being aggressive with those paid in full discounts make complete sense, right, you don't need to offer $1,000 or $1,500 or something like that. That may be ridiculous, but also, you got to remember. You know there's all kinds of studies on this out there, but I saw one recently where average American savings accounts right around $600. Right, so you know people don't usually have a bunch of money to pay in full. So if you're not being aggressive with it, if you're saying $250, that may be fine if you don't need the cash flow. But if you need it, it's not going to drive action as much as it otherwise could. Right, and again, if you don't need 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 and refinance them and lower their monthly payments. It'll also help you with cash flow and be aggressive with your paid and full discounts Three ways to be proactive and instantly increase your cash flow, both personally and professionally.

Speaker 1:

Hope everybody enjoyed today. As always, if you enjoy the podcast, give us a thumbs up. Tell your friends, family, colleagues about the podcast. As we continually grow, I mean we are getting listens in. I mean Dubai, france, australia, japan. I mean this global listening base is just growing and growing, and then obviously a large base here in the United States. And so, loyal to all of you, I love you all, appreciate it so much and until next time we'll see everybody soon. Bye-bye.