Transcription
So, if you doubled revenue across all of these, you'd already be at five, and that's probably about six months of work. Yeah, yeah. So this is Raymond; he's a chiropractor, does $5 million a year. And this is Alex; I'm an investor, and I make all the money that I have. A golden share with diamonds that I sit on at bed, and I just count how much money I have. The point of today is I'm going to try and help Raymond take his chain to the next level.
Hey Alex, uh, my name is Raymond Coer. I'm the founder of Kyo First of Washington. So just a little bit about my business, uh, we currently have six brick and mortar locations. Trailing 12-month revenue, 5.2 million; you better have around roughly 1.2 million, and our net profit is about 23%. Do you buy those, or did you open up organically? So far, I've bought all of them. Oh, really? Okay. Yeah, but I think moving forward, we're going to change our strategy a little bit. So overall, the company's doing well: 5.2 million, 23% margin, healthy. I was curious whether he opened them organically or he bought them because there's basically two big expansion strategies: either buy or you build. And so he chose a buy strategy. That initial kind of sorting told me, okay, these are the types of questions and problems I need to look out for as he goes through the rest of the presentation. So what's the goal? My three-year goal is to try to get to $5 million EBITDA. Um, I want to try to build a business that can run individually, but then I also want to entertain um, selling to an institutional buyer. So this is very much a parity what we talk about. So when someone says they're trying to build it to sell it versus build it to keep it, I see both of those as basically the same path; it just shows how much they want to work like super long-term. Either way, all paths lead to building a better business.
So who do you help specifically? Our key demographic that we help is 35- to 65-year-old men and women, uh, that have some kind of condition that we can help with, whether it's pain, discomfort, or loss of movement. Insurance or cash? We're about 75% insurance. Oh, interesting. Okay. How do you help them? So the way we help them is, uh, when when someone comes into our office, uh, we'll design a custom treatment plan for them that might be over a period of 60 to 90 days, uh, it might include chiropractic, rehab, and spinal decompression. Right. So spinal decompression kind of differentiates us from a lot of our competitors because it's a niche service that we offer, um, for people that have disc-related injuries. Is that like stretching people out kind of thing? Yeah. Okay. Exactly. Well, how do you make money? Our offer, so basically on the front end, uh, we offer a free consultation. So then when the patient comes in, our packages can range from $2400 to $3600, uh, over a 60- to 90-day period. We're primarily a recurring revenue model. Mhm. And roughly one out of every seven of our patients, they come in for a larger case value, so like a car accident or work injury might be worth up to $10,000. Well, right off the bat, I think the reason that he's been able to expand is that he's making a decent amount of money. And so typical, you know, chiropractors who don't know business will sell one crack at the back at a time, uh, whereas he's already selling high-ticket packages, which is the right direction to go for, you know, a premium service. And he obviously has a super premium with this whole kind of insurance $10,000 thing. And so it's like right off the bat, his price points are right. Recurring versus recurring, as long as you can prove that the customers come back over and over again, whether on a subscription or not matters little, but more so that when you build this base of customers, they will stay for years independent of whether it's a subscription. What's what's advertising? How do you find them? For paid advertising, the number one is Facebook ads, so we spend about $1,000 bucks per location on that, uh, the second one is Google ads, so we're spending roughly $500 to $1,000 per month on on each location. Okay, got it. Uh, so what's sales velocity? How many do you sell per month on average? We're we're getting about 35 leads, uh, per month, um, and out of the 35, we have 28 that show. Okay, it's pretty good. And so we have a show rate about 80%. That's great. Um, and our closing rate is about 71%. So total sales is probably roughly around 20. Cool, solid numbers. So right off the bat, Raymond's got really strong show rates, exceptionally strong close rates, and mind you, this is one location, so we'll see if that's system one, which then on some part of my mind I'm like, okay, when you have super high close rates like that, we might need to bump prices; like it just shows that the market is willing to spend more. And so for me, like I would say a healthy close rate percentage is usually like 30 to 40%; that's kind of like usually where you find the sweet spot of price versus number of units sold, not always, but that tends to be like a rule of thumb. But by and large, it shows that he knows how to get people to shop, and he knows how to close. What's staying in the way? What's the problem? If I were to to uh, prioritize my constraints, what I think they are, uh, number one, I would say is probably lead flow, for I think that we could do better in that department; it's not consistent. Okay. When I had one location, it was really easy to predict that and to to change the outcome pretty quickly, but as we've scaled, I'm having a tougher and tougher time to, um, you know, scale the marketing. What Raven's dealing with is super common when you go from one location to multiple, especially if it's purchased, let alone, you know, organically grown, because because usually I call it founder magic or owner magic; it's like if you have one location, it's like your thumbprint's on it, like your heartbeat's on it; everybody knows you, they they kind of grow up with you; everyone kind of knows your vibe; you have old customers who remember you. And so it's like always going to be special and different than everyone that you open after that because you're typically just not nearly as entrenched. Second one would be like our sales infrastructure because we are 75% insurance-based; there's so many different plans out there, right? So we have to when the patient comes in, we have to determine what kind of insurance they have by verifying it and then make a customized plan based off of that. So if there's a way to to uh, streamline that into one day, I think it'll be much more effective for us. What I personally practiced, I was able to do it in one day, but I'm having I'm having a tough time training my doctors to be able to do that. Okay. And then uh, people operations; that's people operations. So obviously when I had one location, it was really easy to control the standard, right, uh, but as we expand, it's harder and harder to have that same standard. Okay. So let's see the numbers. So going over the numbers again, so top-line revenue, 5.2 million last 12 months, profit 1.2, net margin is about 23%, um, our CAC is about 700, our lifetime value is 3,400, so that's 4.8 to 1, um, LTV to CAC ratio, uh, marketing spend, we're spending about $1,500 to $2,000 per location right now, the show rate is 80%, close rate 71%, and our annual ad spend on marketing is about $110,000. So right off the bat, obviously the numbers are really strong; the amount that he's spending per location seems low given how much money he's making, so I think there's probably opportunity there, but I'm just very curious how it actually breaks down between locations, cuz cuz that'll probably give us more insight. Huh. Okay. Do you have anything broken out between channels between Facebook and Google? So this is our our Facebook data, um, I was able to put together like our our 12-month, uh, numbers for all the clinics for, as okay. And then for as far as the the challenge that we have is because we're insurance-based, we don't get paid for like 30, 60, 90 days after, so I had to go back and I picked Q2 for three clinics. Yeah, yeah. Okay. Um, so these are the numbers for for uh, for those three clinics in quarter two. So looking at this whole sheet, I scanned it, and then the bottom where you can see Q2 there, it's Capitol Hill, Everett, and Kent. And so Kent, you see an eight row as there, so that was really strong, the lowest CAC by decent margin. And so I wanted to understand whether that was a performance thing or like it just cost less because of a market play; cost per impression, CPMs are lower there; there might just be more people. I wanted to double-click into that to figure out why that one's doing so much better than the others. Okay. So why is Kent so much better? Is the doc there different than the other docs? They're about the no, he's he's he's good, but he's he's about the same. I I would say that culture team is is really good; I think that's one thing that stands out cuz cuz CAC is half of Capitol Hill, right? You're getting more LTV and lower CAC. Kent, right? Is it that the people that are coming, cuz it's insurance, so is it that they're like feeling better, like what, like how how could they get LTV to be so much higher? Do you have any other data that's that you've collected together? Yeah, so these are from Google AdWords. Well, these obviously do significantly better than your Facebook ads. Yeah, for sure. Interesting. So right off the bat, look all the way to the right; ROAS means return on ad spend; 12 to 1, 24 to 1, 9 to 1. I'm seeing really strong ROAS here, and so I'm thinking, okay, so if I have a machine that I can put a dollar in and get $24 back out, I want to put as much money in that machine as seemingly possible. And so that's why my next question I'm asking: how much more can we spend here? This is obviously a profitable channel. Are you maxed out on spend here? Uh, I don't think I am. The I work with a a third-party company on this, and and I basically go off their recommendations. Okay. I personally would love to spend more obviously on this cuz the return so high. Yeah. Um, and these people are in, you know, immediate need of help. Yeah, so they're much easier; the or case acceptance goes up much higher; these patients, high intent. Yeah, really good. Well, I mean, shoot, this is this is the most promising part. So if you think about people's willingness to pay being proportional to their spending power and the pain that they're experiencing with it, now he literally has people in pain. And so when you have someone who's being interruption-based, so means like they're just scrolling around and they see an ad, they're probably not as in pain as somebody who's like, "Ow, I just did something to my back." They're on Google; they're searching for a solution immediately. So the intentions are completely different, or rather they're significantly stronger with people that are actually looking for the solution. And so I would wager that those people buy faster, they buy bigger tickets, and we'll see if that's true. Walk walk me through the sales process. So day one, patient comes in, we do a consultation, we take X-rays, we'll do an exam, and actually start me from click to close. So the person clicks on as Google is basically the sales process for Google ads different than the sales process for Meta, or how's it how's it flow for you? Yeah, so Google, they will call directly into our we have a centralized, uh, call center that we have, so they call in; click-to-call is the app; click-to-call or click-to-schedule on our they go to our landing page. Okay. So clicked a call or or or they self-book. Got it. So then they they talk to a rep that's centralized; that rep does some sort of discovery call; do they look at their insurance at that point? On the call, they don't, but that's the thing I'm thinking of adding in so we can get on top of that. So they they do some sort of discovery; they're currently not doing insurance on the call. Yep. All right. So then they do what? So then they schedule them, uh, the the next available time; we try to get them in same day or next day, right away. So some people call and then they book them, and the people who self-scheduled just book directly. Exactly. And then what's the what's the kind of like reminder sequence there to make sure that because you have really good shop rates? Yeah, so we do, uh, three text messages, and then we do a phone call, uh, if if we uh, if they don't respond to a text message, we do a phone call the night before to confirm; we'll do another one like, uh, you know, two hours before their appointment. So Raven is describing what appears to be very boring work but is one of the biggest levers that I look at that is often huge holes of revenue for most small businesses that they simply just don't work their leads either well enough, fast enough, or hard enough; they're not responding to them quickly, they're not personalizing the reach-outs, they're not doing it multiple times, and they're not doing it in a timely fashion relative to when they're coming in. And so he clearly had a system for for working leads, like we text him these three times this, and we do this. And so as soon as someone demonstrates that, I'm like, okay, there's probably not immediate holes in low-hanging fruit there, and his numbers kind of supported that. Said differently, when you see 80% show rates, you've got somebody who knows how to work leads. Okay. So three reminders and call if they have not confirmed their and follow-up call as well if they didn't pick up the first call or the other ones. And then if someone doesn't hit any of those five, do you pull them off the calendar? We don't pull them off the calendar, but we we kind of expect them not to just like double-book kind of. Yeah, exactly. Okay. Y okay. So then they come in. So they show up to the appointment; now what? They come in for their appointment, uh, we'll we'll do a consultation, so we have a patient coordinator that does it that gets the preliminary data, like an assessment, Y like movement, like move here, does that hurt? That kind of thing, like J where you have pain, kind of like half-close your framework. Okay, like it. So they'll do the first half of that on there, and then uh, then we'll take uh, X-rays; we'll do an exam, and then we'll tell the patient that, hey, we need to process these films or these X-rays, and then can we need to get you back in tomorrow so we can go over the results of the X-ray? Yeah, and that's where we're losing people. Yeah, that's okay. So then we'll release them for we we'll still do treatment that day; we'll do a light treatment, and then we'll have them come back the next day, and by then by then we'll have everything verified, and then we'll have a customized plan for them, and then we'll the fin. Can you walk me through the ad funnel with the uh, Facebook ads? We have a video ad out there; do you have ads live right now? Yeah. Can you um, pull up Facebook ads library? We're going to pull them up, and we're going to we're going to see it; we're going to see; we're going to see for ourselves. All right. So we have different creative; it looks like it's the same copy. All right. So I think there's probably just some work that could just happen on the actual ads themselves; like I think you can have a clearer call out, and the first line I would probably separate the call outs, so it's like attention Everett in surrounding areas. So instead of areas, I would go to like residents or something like or people. Basically, combine the two where as chronic back pain doesn't have to be a life sentence; attention Everett for your uh, so be like attention Everett like residents with back pain, that combines both lines; punch you put two asterisks on either side; it's like, okay, that's what it is, and you're putting proof first. And I probably wouldn't hear; I'd probably lead with a question, which would be like, are you so either I would lead with a question that'd be some sort of like more specific pain, or I would lead with the offer and then have the proof of why they should believe that I can help them after they've seen the offer, cuz like it took us all the way down to actually see what the offer wise got it in the headline. If you scroll all the way down, Michael, avoid surgery, try spinal decompression; I would probably just put like the offer there, so it's just like a restatement, like free spinal uh, decompression, but $99 value, whatever, something like like that's probably what I would what I would put there. There's a lot of words, and I think you could probably get just like I combined the first the headline and the extend into just like attention Everett residents with back pain, right? It's like boom, we got that, and then it's like you'd be amazed at how much like just changing tweaking the headline, probably compressing the copy into a handful of bullets that's like, do you struggle with boom boom boom boom, and you probably tried boom boom boom boom, but there's a better way; this is how we do it; we've helped this many people; for limited time, we're doing X, Y, and Z, and I think I think that would probably work well. I cannot guarantee availability; we can accommodate 10 vouchers of patient schedule; I do like that; could probably be compressed. Okay, like we can only we can only see 10 new patients per week, right? Scheduling availability is first come, first served for this treatment done. So I'm walking Raymond through some improvements to his ads, and I wrote a book on advertising, and in the paid ad section, the first part of every ad is a call out, right? Is getting people to notice the most important of the ad, right? That's that's what this is. And so the call out is whatever you do to get the attention of your audience. And so there's kind of four ways that I like to do it, and the way that I'm presenting for him here is a yes question, right? Which is like it's almost implied, so we're saying this audience of people, which is local area, and then the like do you have back pain or who have back pain is kind of an implied yes, and then we're leading with that for the call out, which is the most important part of every ad; it's the only thing must be we're going to read. So once you have the call out, I use a who-win framework when I'm thinking through ad copy, and so he's talking about like avoid surgery, so this is opposite nightmare scenario, right? And so you can basically construct your ads by piecing these parts together in the ad copy, and then obviously we want to have the offer very clear when we get to the offer section; that's where we need to tell them what to do next, which is kind of the last part of the app. One of the reasons I love doing these is that I get to take some of the experience that I've had from years of work and actually just help other people out. And so one, I had a chain of six, so I had to work leads and get people to show up all the time and write ads to get people to do that. And then secondarily, we had a licensing business that licensed thousands of brick-and-mortar locations, and so I had to solve these problems at scale across many different markets. And so the nice thing is the patterns are the same, and you just have to execute them. And so I'm glad that I could CH. Let's go to scheduled appointment, uh, Kent. Okay. So we just go straight to straight to the Bing. Okay. I would see most of our patients schedule like that versus call. There's a couple of things that I think we can go over in terms of sales process, lead magnets, things like that. Honestly, I think a big part of it that's not up here is the Ops in this type of business; it's so operationally heavy in terms of like kind operational excellence. I have a hunch that if he has the same model at all these locations, and some of the locations aren't profitable, and some of them are, the biggest lever is here to be the people who are actually running the system. So I have to be really particular about what recommendations I'm going to make if there's very weak Ops and execution behind it. And so one, it's going to limit the things that I'm going to do and change the priorities of what I'm going to recommend. And so a lot of times business owners are like, oh, I need to change my strategy, when the reality is that like the team's just not good enough, and you need to focus on the team rather than the model. You absolutely can run a 10 to 1, 15 to 1, you know, uh, ROAS; well, you're already doing on Google, but you can do that on Facebook as well, um, if the offer is right. And so right now the offer is like there really isn't one; let's just like try this thing; um, it doesn't even say free. Once you come over here, and then we'll we'll walk through game plan. Cool, cool. Yep. All right, let's on; there's inconsistent lead flow; there's the sales process that I want to look at; I think the discovery process needs something; needs a better front-end offer; increase ad spend; so those are those are the really tactical things that I'll walk through. I think that we're going to look at lead magnet; I think this needs to be better for ads; offer is number one; number two is yeah, copy; number three; I think we're going to go; I think the um, disco process; disco dancing; the discovery; all right; number four process; do you have financing? Oh, no, you don't have financing; CU your insurance; we do; we do; so the decompression is cash; so we do offer financing. Okay. Do you have a third party? Yep. Okay, cool. Then I I so Raymond has obviously he's got a successful business; he's doing 5 million top line, 1.3 bottom line, so he's not he's not doing he's not doing bad. And so a lot of my questions were probing questions to see if there was low-hanging fruit that already exists in the business that we could kind of tweak and immediately increase the profit and revenue of the business. And so these are the kind of holes that from asking the questions I'm like, we can improve something here; we can prove something there. Sometimes I asked, and he I was like, no, that's good; you got it; all right, and move on to the next thing. And so to be clear, it's not like I'm trying to say like he has all these things wrong; he's making money; he's making more than a million dollars a year; like he's obviously good at business. And so I'm just trying to find the things that I think I can add value that are ideally low operational risk for him to execute. Raymond's actually on level six, which is all the way over there; my arm's not that long of the scaling roadmap; he's at 20 to 49 employees, right? Between all of his locations. And to get to 50, he has to do some of these steps now. If we're looking at the constraints of his business, we can see here that he's having this sales issue. So what sales issues occur at level six? Well, closing efficiency on core product drops becomes inconsistent; refunds go down, but but so do closes. And so he's in this situation right now, just right out of the book; I'm telling you like we spent a long time on this, and businesses behave in patterns. And so to graduate, he has to install better sales training, individual coaching, and a team cadence for making sure that they're operating at KPI or above, so key performance indicator, KPI. And so this is what he has to do at this level. And if you're a business owner and you're curious what stage you're at and what things are kind of plaguing you, well, you probably know your problems, but how to graduate to the next level and how to solve them, this scaling roadmap is totally free, and it's personalized to you, so you can go to acquisition.roadmap; just type in your business info, and we will send you the RO the the stage that is specific to you across all eight functions of the business: so product, marketing, sales, customer service, it recruiting, HR, and finance; you'll have all the problems and the solutions to get to the next level; it's one of the most valuable things I can give you; it's absolutely free; go check it out. And if you, by the way, want to have us take a look at your business, uh, on the thank you page, you can book a call; you can come out to our headquarters, and our team would uh, love to kind of do what we do here, uh, with you. Okay. So we're going to start; let's actually, you know, that's actually not a bad not not a bad order. Okay. So, um, starting with the lead magnet, I think that offering $19, $29, somewhere in there, first consult or free X-ray or something to that extent would probably go way better, um, and I do like, especially for your your type of business, to do a low ticket. And so it's something like this; it'd be like $29 uh, X-ray, you know, plus, you know, assessment, blah blah blah. And the reason I like this is because you get the credit card on the phone. Okay. And even though it's an insurance thing, it's like, yeah, no worries; we just put a card down just for for show rate. Obviously, we have a doctor who's going to be there; we to make sure that you're going to show up, right? And the thing is that if we bill them the 29, then the likelihood they show up is super high. And this is literally just to take show-up rates to like basically 100%. So then and this is over the phone, so this you do that's a phone; I did this in front of some Gen Z kids, and they're like, "What's that?" The H like Jesus. All right, you'll recognize it. So we do this now when they walk in the door. Okay. So this is going to be a little bit of a departure. Okay. Yeah. So they walk in the door, and when you um, and I think the reason that you probably sold better, obviously you're better at sales and probably your your docs are, but if you think about how sales works, so sales you want to sell at the point of greatest pain, not the point of greatest satisfaction. So let's say to be a normal person, they're right at the middle of this line right now; they're they're having a bad day cuz now they're in pain, right? Then all of a sudden they get something fixed; now they're even better than normal. If you're a salesman, where do you sell? Do you sell when they're here, when they're in pain, or do you sell here when they're super happy, at the point of greatest satisfaction? So do you sell at the point of greatest deprivation or point of greatest satisfaction? AKA pain or value; where do you sell here? So if I let's say you walk into my restaurant, all right, and you're starving, and I say, hey, here's a steak, and you eat the steak, and then after you eat the steak, I say, hey, how was the steak? You say, "Oh my God, it was the best steak of my life; amazing." And I say, "Great, would you like another steak?" You might be like, "I mean, no, but I mean, hey, the steak was great; like I'm I'm not saying the steak was bad." I'm like, "Why don't you want to buy another steak? You said it was so good; why don't you want to buy another steak?" Does this sound familiar because I hear some sales calls from businesses; they like, "Well, if it was good, then why aren't you buying more?" Because you're selling at the wrong time. Now let's play the let's play the play the tape back; you walk to the restaurant; you're starving; I say, "Hey, how hungry are you?" You say, "I'm starving." And I say, "Cool, you want two steaks?" You probably be like, "Hell yeah, I want two steaks; I'm starving." And then I sell you two steaks; you sell at the point of greatest pain, not the point of greatest satisfaction. Now here's where it gets tricky; sometimes the point of greatest satisfaction for one thing becomes the point of greatest pain for another. So if all of a sudden I help you make more money, for example, then all of a sudden you have a new problem, which is you have taxes, and then I say, "Hey, with all that extra money that you made, I can introduce you to somebody who can help you with your taxes; do you want that?" Yes. And so where people can flate this in terms of orders, you have to make sure that if you're doing an upsell at the point of greatest satisfaction, it's opening the loop of pain for the next problem that you're going to solve through your next product. And so it's kind of the same thing here where people are literally coming in pain; ideally what I would want to do is we take the assessment instead of doing the treatment, then I want to sell the package. Got it. Then if you want if they have time, they can do it or they can come back tomorrow; get their first treatment. Got it. So it's the same time scale; we just move the order around because like I mean I I've been this patient, so like I go to the chiropractor; they do something; I'm in pain; they adjust my back, and then they're like, "Hey, uh, come back for this." I was like, "I know, I'm good; like you you fixed it; I'm great." Totally right. And then they're like, "But it's not a long-term solution." And I'm like, "Good enough for me," you know, like I I'm out. And so that might be an immediate like 15, you know, 10, 15% boost in sales, so like that's number one, but the thing is is that I think that your close rates are going to go up. So one is like you're losing someone at the drop-off, right? But I think close rates will go up, and like when you're in pain, your desire for a more per like all the desire is there in that moment, and emotions are there; we're missing it though. Hey guys, this channel I make for you business owners; this is all I do every day; this is what I love; I'm so excited about this new series. And so if you have other business owner friends that could benefit from some of the tactics, cuz these tactics work across lots of different industries, not just chiropractors, right? It would mean the world to me if you just put into a text and you text it to them or you share it to them in a DM, cuz it ultimately helps more businesses get better, and I believe in private enterprise, and I think that's how the world gets saved; no one else is coming for us. All right, back to the video; I always had this role, at least like with fitness, is like when someone walks in the door, first thing I want them to do is expand the gap of where they are, where they want to be. So I have everybody hop on the scale; the amount of people like, "Oh, I don't want to hop on this;" like, "I know;" I'm like, "Get on the scale; we got to know where it's just a number; we got to know where we're at." And so it's the same idea with this; it okay. So, uh, lead magnet in terms of off-ride; do you think this would be good? This will increase show-up rates overall; getting somebody to get a $29 credit card purchase over the front is like not hard, um, they do that; that secures their spot; then when they come in, we do um, same-day sale. Mhm. Now what has been the issue with the docs making this sale? Like you said, they struggled with this. So there's two elements; you said there was insur like some insurance stuff there; so what what's the issue here? Yeah, so the issue is, uh, patient comes in, and and uh, we have to verify their benefits; so there's there's like 20 different insurances, and and every patient has a different like coverage or whatever, right? So then we got to we have to we have to make our uh, treatment plan, then take out whatever the insurance covers, and then they pay their co-pay or co-insurance. So just doing that process, um, I think when they're on the floor seeing patients and then having to switch gears and uh, do the math of like what this, you know, here's my recommendations; here's, you know, all that; I think that part kind of stresses them out. How much of it is templated? Lot most of it, like as far as the so we have we know someone has Blue Cross Blue Shield, so whatever. Yeah, yeah. It's all exhaust; we can punch in number; we have find natural calculator for that. So question; so someone calls; so basically there's two spots that we can put this this process; so either we can do it on the phone, right? With the disco. Yeah, or we can do it the moment they walk in the door. So it would work like this: so someone walks in and say, "Hey, do you have your ID on you? I just want to confirm your employment." "Yes, I'm Sarah." Cool, great. "Do you have your insurance card on you?" Yeah. And so you ask that, but that way we can get the templates already like ready to go so that then the doc goes and Hees and says, "Let me get the X-rays," and then comes with the X-rays and with a template for insurance, and then you can just match them
Is how we compete. Our patient profiles? Okay, perfect. Like it's better to appeal to policy. Totally. We'll get this. If this, for whatever reason, is you, you'll prioritize the insurance. They'll come in; they're going to have the printed-out stack, yeah, of all the insurance. The doc gets this on a clipboard. Yep, right in order of the patients that he sees that day. Um, he's like, "Okay, Mrs. Johnson, I've got your x-rays here. I've got your insurance here. Okay, this is what we're going to do for you." And then this prescriptive close makes sense. Okay, so right now, are there some locations that are having like way higher close rates than others, or like what's the highest close rate? Probably, I would say Capitol Hill. And uh, what's the difference though? The docker has a lot of certainty. No, no, no. Uh, percentage difference? Oh, um, so let's say Auburn is, let's say they're averaging about 55-60%. Okay, and then uh, Capital Hill might be at like 80%. Okay. No, I mean, they're both okay. You terrible? Yeah, they're not terrible, but if you look at um, cuz cuz a lot of these people have insurance, so their entry-level uh, like financial is not like super high on. So, so the ones that are the, or you have zero out of pocket, yeah, so I mean, you got you're going to have 100%. So kind of. So this is how I would, so I would imagine that the packages themselves are going to be similar; it's just how much is being covered is going to be the difference. Is that about right? Yeah. And then also the fact that I think if a if a clinic sees a lot of those 100% coverage ones, then they kind of skip, then they start, they don't work on their sales skills for the ones that are, and then they can, "Oh, these are crappy leads or shitty leads," or whatever. Yeah, but just cuz you have to work a little bit for them, right? So I think just creating that training, that's that's what I'm using to train them and role-play more. I'll give you something that will help you a lot with brick and mortar. So I've done a lot of brick-and-mortar sales processes in my life, and um, as much as possible, I like them to be like clicks and check boxes. When we sell supplements, for example, it's like you literally just turn a loop around, and then you just like punch through it, and you literally just say the words, and then at the point that you ask for the thing, you ask for the like you really can machine it that way. Yeah, and that will eliminate so much of the variability between people. And so I would look at what the top 80% guy is doing consistently, make that into the basically the deck, so that they have a visual aid to go through it, and then it just feels like, "Oh, this is this is the next step. I do this; this is what you need; this is what we cover." He circles the thing on their on their thing, turns it to them, and then they they they rock and roll, and then they just book out their next appointments. I'm assuming so they're car looking at a teleprompter almost like okay, but they can show it to them. Okay, so there's two ways to do it: one is you have the laptop and you turn it towards the customer, and then you basically read the words on the slides, that is like the perfect sales pitch, but with visual aids and whatnot. Got it. The second way of doing it is you have that clipboard. Mhm. But they don't know what's on the clipboard, right? And so the clipboard just has the script. Got it. And so it's like, "Cool, I'm just ask you a couple questions," and so you basically go through the sales process, and you just look like you're checking off the boxes as you're going through a script, but then they always say the script, and then the doc can visually share this, which they then staple to the the patient contract, that way you know they follow the process, and then it just keeps it consistent every time. So either of those work; I've done them both. Okay, so leads page 207: if you have employees and you want them to do what you want them to do, then there's three steps: document, you make a checklist; demonstrate, you do it in front of them; duplicate, they do it in front of you. And so right now, the who's actually doing it is that he wasn't the salesperson. He did say he is good at sales though, and say, "Okay, I need you to document this by putting this into a checklist. Give it to someone else for them to follow it. So now that you have it in a checklist, now you follow it in front of them, so they can you prove that the checklist works. That and if you keep changing things while you're not using the checklist, then keep changing the checklist until you actually follow it. And then once you have the checklist right, have them follow it in front of you, and then once that happens, then you've been able to duplicate the skill into somebody else, and that's going to be a huge issue, or rather a huge opportunity for Raymond in his business." So the next one is I think ad spend needs to go up. So what? Cuz you're not spending very much. Yeah, I know. You know, it wasn't until I had to do this process; I was like, "[ __ ] we can," Ian, because the ROI is so high on some of those things, and if I, I mean, I would spend like a million dollars a month on Google AdWords if I could. Yeah, so how do we like, I guess that would be one thing to increase. Well, the first thing I would is just literally tell them like, "I need you to double the ad spend, and I need you to find more keywords. So just find more for me." Got it. The other thing that might be worth looking into um would be uh, local SEO, okay, because SEO, especially for intent-based, so it's like obviously there search, but it's not hard to win at SEO locally. Like nationally, you want to win back pain; it's good luck, but like you want to win Everett, you know, chiropractor Everett, spine Everett, pelvic health Everett, low back ever, lumbar ever, like you mean there's so many sciatic, like all those, I think you could probably win on longtail keywords. So I'll put that as number seven. Um, so right now, Raymond is doing the core four; this is page 49 of the leads book. All right, so this is about advertising, getting leads, and so he is currently running pay-per-ad, so one of the core four, but I think that he has an opportunity on posting free content on his site to drive SEO. If you don't know SEO, it's search engine optimization, so that people who have high intent, who are looking for a chiropractor in my area or other keyword or longtail terms, will get sent to that site to maybe read a blog article or something that sounds interesting, and then while they're on the site, they can take one of the call to actions in order to kind of take next steps in the funnel. And then one thing that helps us on that I think is we're pretty good about getting reviews; we have more reviews than everybody in our cities. Oh, that's great. And then I think that helps with the local SEO, um, but yeah, and the and the I guess the big question is like with the ad spend, a lot of these, so the agencies that we hire like they work with uh, many chiropractors, right? So those most chiropractors don't do what we do, which is sell packages of 2400; they do visit to visit, which is which is a nightmare. Um, so I think that they base our ad spend, they're recommending our ad spend based on that, but my return on it is so much higher than the average guy. Oh, yeah. So then outspend everybody. Yeah, totally. So if you might have to talk in um, in marketer speak for them, okay, and just give them this a target CPA, like cost to acquire or CPL, and just say like, "Listen, I can I can pay up to this, so like, Make It Rain, dude, if as long as it's under this, I'm good." If you're managing an agency, the more specific you can be, the better. And so you have to kind of learn some marketing language so that you can talk to them like marketers, and I'll also tell you they'll respect you way more if you can speak their language. What you're going to be looking at is either CAC, depending on you know what industry, it's either CPA or CAC, typically CPA means cost per acquisition, CAC is cost to acquire customer, both terms fundamentally mean the same thing, and or uh, CPL, so cost per lead. I like to kind of break this down into two numbers: one number is what I will tell them is my acceptable range, and then the number that's actually my acceptable amount, because sometimes they tend to overshoot. This is just me with a history of agencies, and so I'll give I'll build in a little bit of padding between what I tell them and what I'm actually willing to pay, but the more you trust the agency, the more those two numbers can be closer together, because if you build trust, build a good relationship, the higher up that number is, the more traffic they can ultimately send you, because they can spend more to get you a customer. And would you have when would you consider bringing that all in-house? Um, cuz I kind of I hate dealing with these. No, I get it; I get it. It probably be my priority right now, cuz like if I look at this, I'm like, okay, we got 12 to 1, 24 to 191, so I'm like, we're doing pretty well on this, right? Um, and do you not have do you have Google and the other three as well? Yeah. Okay, it's just not there. I picked a one like a high, middle, low. Oh, so that's low. 901 is a low one. Yeah, for sure. Oh, that's great. Jeez. Okay, cool. I would say basically, I I'd stop it at at 5 to 1, okay, and say like, so basically double or triple whatever the CPA they're currently is, and sometimes what you'll find though is that if you can double or even triple how much you can spend to get a customer, you might be able to like 10x lead flow. It's not like it's not it's not it's not proportional uh, because you just all of a sudden you have spend this many more people to to illustrate that what what I'm explaining to Raymond, I'm going to give you two hypothetical examples. All right, so let's say I say you could spend $1,000 in scenario one, and that'll turn into $10,000. Now you might think, wow, I should do that, but wait, there's more. What if I said you could spend $10,000 and make $50,000? Which one would you rather have? Well, hopefully hopefully this one, because here you make $40,000 net, and here you make $9,000, despite the fact that this is a 10:1 versus here you have a 5:1, so you have half the efficiency, but you have four and change times the amount of absolute return. And I see many small business owners get stuck in this trap of being like, "I have to optimize this; I have to optimize this," and you do to a degree, but at some point, sometimes you just got to spend more; you need to expect efficiency to drop at scale; it's just part of the game. Cool. So local SEO, add that in. All right, so let me do this, so what I want to do is I want to reorder these, okay, um, so that you have kind of like next steps. Does that work? Yeah. Okay, sweet. I feel like we can I feel like we're making profit. I I like that preset. I like the doing it before the oh, makes total sense, dude. It it's it's it makes all the change in the world. So what I'm about to outline is the next six months of work for Raymond, and I would say a relative amount of increase that these tactics can do for his business. And so one of the key parts of laying out a plan like this is making sure that the person has the right resources and that they're doing them in the right prioritization order. Right? If there's something that takes 5 minutes and can double the business, well, let's do that first. And I tend to save the heavier things for later unless it it absolutely has to be done first, and the other ones are contingent on the execution of that. And so by and large, I will do light work, high impact first, and then often times there's the heavy work, heavy impact that has other things that tail or are attached to it as the order of operations for him. Now we started this whole conversation around operations to make sure that they had the right people in the right seats to actually execute these strategies, and so that's also something I'm taking into consideration when I'm laying out this plan. So I'm going to use black here, so we're going to go um, in order, so number one. Oh, you're good. As increase Google spend, so that's number one, and you're going to try and spend as much as you possibly can. Facebook, lead magnet, $29 offer. Three, tighter ad copy. What I would do honestly is I would look at, so this is how I would how it how it spy on some [ __ ], so I would look for chiropractor agencies that specialize in higher ticket, and then I would look at their customers, okay, and then I would look at their ad accounts, and then I'll bet you that they run the same ad copy that seems to work really well for all of them, right? And that's where I would look at if I was like if I had to my 1.0 version. Okay, so number four, um, this is going to be the credit card plus insurance card uh, setter. This is cool. Number five, o [ __ ] there we go. Number five, print out morning of insurance plans. Six, um, we need the sales manager to take over the process. Right, manager takes sale, one location test. If it works well, you can roll it out. Yeah, I already do that. So should be oh, perfect. Got it. Right. I would add in local SEO to get more traffic. This is a long-term investment though, but I think it's so worth it for what you're trying to do, because the thing is SEO is going to have the highest return. Yeah, for sure, like in terms of ROI, so to actually it just be more profitable, it's just like you got to be able to wait a year, but you're looking at a multi-year timeline, so I think it's just going to be worth it. And that's it's not worth doing that like with all my individual locations. Yeah, you just rank in each of the yeah, each of those local markets, and then like as soon as you know you're going to open up another one, it's like you just yeah, exactly, you start spinning it out. I'll just put a subpoint here: same-day. God, I love that four-step sale. And we'll add in sales pre-op, sales checklist for integer. So I think if we do these things, we put a little estimator here. I think this is probably an easy 2x in terms of lead flow and and making more money. This can absolutely double the return that you're doing there. This kind of these two are together, so I'll just like mute there. This is probably going to give us the 10% back that we're that we're losing between day one and day two right now. So this is plus 10%. Now this one, I think like the thing is with this one that I like so much is it like doubles the efficiency of each store. Like this one's like super super sexy, because all of a sudden it might be able to take your Kent from like 1.5 to like three, and like you might not have to open any more stores like if you could, cuz like if you can double revenue, the fixed costs are more or less the same, right? And so if you doubled revenue across all of these, then you'd already be at five, like you'd already be at five in terms of Eva, you wouldn't even have to do anything else. Would that be Tred to the institutional wire? Oh, yeah, even small. Yeah. Got it. Yeah, local SEO is probably like you might be able to get like a 30 to 50% boost. Okay, it'll just take like a year, but it's the nice thing is this all margin; it's all margin. And then the sales pres will probably be able to smooth out your your closing percentage, probably be somewhere like a 20% lift, that would be kind of like my guess. And so we've got a double, a double, 10%, this could be a double, depending, this is more in terms of volume, right? Volume. This is uh, yeah, 30 to 50, and probably 20% lift here. And that's probably about six months of work. Well, dude, that's the plan. Thank you so much, dude. 100%. Thank you, man. So I just sat down with Alex, and uh, he broke down my business and all the marketing experience that we have and gave me some pretty easy-to-implement things that we can do to grow it right away. So Raymond was amazing. I'm so pumped to be able to work with him in this business and help him out here. This was lots of fun for me, probably more fun for me than it even was for him, and hopefully even more fun for you. And if you like this style of content, really tactical business stuff, you're going to love the first one of these that I did with Ashley, who is a stylist, and I think the tactics I laid out out there could help many businesses blow up.