Greg Todd [00:00:00]:
And so what you do is because you're promising people a result, you create a guarantee for them on if they don't get the results. Well, this is what I'm willing to do. So you can create a price based guarantee that I will give you back a portion of your money. You can create a modified price guarantee that I will give you back not only it doesn't have to be all the money, but it can be a portion of it. So a full price based guarantee is, I'm going to give back all the money, modified based price guarantees. I'm going to give that a portion of it service based guarantees where I'm going to continue to work with you until you get the results. A modified service based guarantee is that I'm giving you other components besides me and you can continue to get access to those components until you get the result that you're looking for. This is Secrets for Success.
Greg Todd [00:00:54]:
Welcome to the Secrets for Success podcast. I'm your host, Greg Todd. Thank you as always for joining me today. We are going to talk to those of you that are clinicians. You want to make more money, you want to have more impact, you want to work less. Let's talk to you today. Today we're going to do what I call alchemy. We're going to call this clinical alchemy today.
Greg Todd [00:01:16]:
And I'm going to show you guys today how I would do it if I was treating in clinic today.
Greg Todd [00:01:22]:
Okay.
Greg Todd [00:01:23]:
I understand that there's many of you that you don't want to grow a digital empire. You don't want to use your knowledge in a digital way and turn it into money. I totally get that. I respect that. I understand it. I'm just not it. I don't, I don't want to be in the clinic anymore, but that's because I want the time freedom and the, and the flexibility. But you know what? I'm in a different place in my life.
Greg Todd [00:01:46]:
Maybe for you, you want to be in a clinic, that's your identity, cool, whatever, okay. If that's you and you want to be able to make more money, I just can't tell you to continue to trade time for money in good faith and good conscience. I can't. So for those of you that want to stay in a clinic, but you want the perks that you can get if you had a digital empire, I don't see any other way of doing it besides having a solutions based offer. And so a solutions based offer is where you are getting paid for the result that you are giving. A client, you're not getting paid for the amount of visits that you see them for. You're not getting paid for a plan of care, you're not getting paid for a package. Because I feel like that's a business model where you can't win.
Greg Todd [00:02:31]:
And the reality is that not only can you not win, your staff and your clinical employees can't win if they get better. And so I want to talk about that first and I'm going to talk to you all about how a solutions based offer looks and how you actually set it up from start to finish.
Greg Todd [00:02:52]:
Okay?
Greg Todd [00:02:53]:
So my first patient that I treated, the first patient that I evaluated was December 26, 2000. Okay, I'm an old head. Okay, I'm an old head. I know. December 26, 2000. And I worked at this 14 year old girl and she had patellofemoral syndrome, okay? Her mom brought her in. It was I think a 12:30 or 1:00 appointment or something like that. And I started to evaluate this young lady.
Greg Todd [00:03:25]:
Now remember, she's my first patient out of PT school. And I went through this objective portion of the evaluation. I started taking all the measurements in the objective portion. I did special tests and about 2 hours and 15 minutes later I was ready for the assessment. Now here's where things got a little tricky. The mom said, sir, we have to leave to go pick up her younger brother from school. Could we finish this the next time we come in, you guys? It took me two hours and 15 minutes to do the first two portions of an evaluation. That's really bad.
Greg Todd [00:04:05]:
I sucked. Now guess what? We got paid for every 15 minute unit. I think my boss said, hey, just charge for four units for that even though you waited a little bit longer. She didn't fire me on a spot, so likely she didn't. But one of the things that I have realized is that five years later, 10 years later, if I was seeing a 14 year old kid for patellofemoral syndrome, the subjective and objective portion might take me 15 minutes. See, I got better. I got better with time. And as you get better in time with something, typically in most professions and most lines of work, you get compensated more, you get compensated more because people want things done faster, right? But as a physical therapist, the way that we are compensated is we're compensated based off of time of the work allotted.
Greg Todd [00:05:03]:
So if it takes me 15 minutes instead of 2 hours and 15 minutes, I actually get compensated 8 to 10 times less. So I get paid less, the better I get stupid doesn't make Sense. And so that's the reason why I'm like, wait a minute, why is it that I want to be in digital so much? And I realized what it was. I love to be around people, I love to hang out with people. But I realized that in digital I get paid for results, I don't get paid for time. People aren't paying me more money the longer I stay with them if I like. What I've been able to do is I've been able to get people results in the same thing. And over time, with using technology, with using AI, with my experience, I can get people results in shorter and shorter periods of time.
Greg Todd [00:05:59]:
What I used to charge one year for, I today charge that same amount. But I'm able to do it in three days instead of it taking 365 days with a client. My life has gotten better. It's because I charge for results. And I realize that in the clinical realm, we are not able to charge results. And that's a reason why people don't want to work for you anymore. That's the reason why you don't want to work for you anymore. That's a reason why it is so difficult for you to be able to hold onto staff, retain staff.
Greg Todd [00:06:27]:
It's because of business model and the way that you make money sucks. And as you get better, your life gets worse, not better.
Greg Todd [00:06:35]:
Okay?
Greg Todd [00:06:35]:
So with that said, I'm a big believer in the solutions based offer. And that is where you get paid for result instead of getting paid for more of my time.
Greg Todd [00:06:45]:
Okay.
Greg Todd [00:06:45]:
Because as I get better, I want my life to get better. I want to make more money.
Greg Todd [00:06:49]:
Okay.
Greg Todd [00:06:49]:
I don't want to make less as I get better. It's so ass backwards. Okay, so how does a solutions based offer work? What are the steps to it? I break it up into three different components. I break it up into the client, I break it up into the create the offer and then how do you communicate and collect? Okay, so let's talk about these steps and I'll kind of break it down into 10 steps. So the first thing that we must understand is that you have to identify your client type. Okay, so for those of you that are already treating patients, right now, you're probably treating quite a few different types of patients. All right? But for the majority of you, probably have people falling into one of these three categories. Okay.
Greg Todd [00:07:35]:
So I want you to think first of the clients that you work with, think of the majority of the clients that you're currently seeing. If you want to take the last 30 days of clients that have come into your facility. Take those clients and let's start to put them in categories. Let's look at how long your plan of care was with those clients. Was it 21 days? Was it 14 days? Was it 6 days? Was it 95 days? Was it 4 months? Where do they fall? So that's the first step that I have everybody do in a solution based offer. Let's look at who you've already served and let's look at what your plan of care typically is with that person. That's step number one. Step number two is we're going to identify the tier.
Greg Todd [00:08:17]:
So the way that I do it with solutions based offers is I take the pool of clients that my clients, my therapists or my dietitians or whatever healthcare provider you are, clients that they work with and we put them, we separate them into one of three tiers. So for some of you, all your clients are going to fall into one tier. For some of you, your clients are going to fall into multiple tiers. So here are the tiers. Tier 1 is 30 days or less that you have worked with a client from start to Finish. That's tier one. Tier two is 31 days to 90 days. Okay, so it's between one month.
Greg Todd [00:08:52]:
So greater than one month, it's not greater than three months. Okay, so it's 31 to 90 days. And then tier three is 91 to 180 days. Okay, so where do those clients that we talked about in step one, the majority of your clients, where do they fall? Do they fall mostly in tier one? Do they fall in tier two? Do they fall in tier three? Do some fall in tier three and some are in tier two, some fall in tier two and some in tier one, whatever that is, you're going to identify those types. So you're going to have three tiers when it comes to your solutions based offer.
Greg Todd [00:09:23]:
Okay.
Greg Todd [00:09:24]:
And then what we're going to do is we understand that we're not getting paid because of your expertise, we're not getting paid because of your years of experience. The way it works in the world is you get paid based on the payoff that you get for people. So what we're going to do is we're going to figure out what is the result. Take the clients that you have worked with that we talked about in step number one and let's kind of look at where were they when they started with you, what were their pains, what were their frustrations, what were their worries? We're going to identify the Pain types, okay? We're going to identify what their frustrations, their worries were, okay? That's what we're going to do in step three. And then in step four, we're going to figure out, okay, when they finished with you, what, like, where were they at, what are their goals? And so now instead of talking about how great you are and your years of expertise and all the continued education stuff you did, and that's why they should work with you and how horrible the therapist or the chiropractor or the speech therapist is down the road, instead of talking about that, talking about that for people who want to work, you're going to talk about, look, this is where you're at right now. This is the result you were looking for. And based on that bridge pain versus result, that is going to be the result of the offer.
Greg Todd [00:10:39]:
Okay?
Greg Todd [00:10:40]:
So now we've done that. We've identified who the client is, the client type, and now we're going to create the offer.
Greg Todd [00:10:47]:
Okay?
Greg Todd [00:10:48]:
Now here's what you are going to find out. You're going to find out that people are going to fall within tier one. You're going to find that people are going to fall within tier 2, 31 to 90 days. You're going to find out that people fall into Tier 3, 91 to 180 days. So you're also going to find that there's going to be people that don't fall into any of those three categories, okay? And so those people we are going to put into our membership category.
Greg Todd [00:11:11]:
Okay?
Greg Todd [00:11:12]:
Membership I like, because membership is recurring revenue, okay? And when we were going to communicate to them that they don't fall into any of those categories and we'll explain to them how the membership works, okay? So that is step four. Now let's talk about how you actually create the offer, which is step five. This is how you create the offer. Take your current charge per visit that you have. So if you're charging right now $200 a visit, take the amount of time that you would see people for whatever their episode is. So let's just say somebody falls within tier one. Most of you are seeing people one time a week. That means that you would see them up to four times a month, okay? So you would take the amount of times that you're seeing them for their tier.
Greg Todd [00:11:56]:
So if it's tier one and you're seeing them one time a week, that means you would see them up to four times. If it's tier two and you would see them one time a week, you would see them up to 12 times because it's 90 days. If it's tier three and you're seeing them one time a week, you would be seeing them up to 24 times. Okay? Because it's 24 weeks. So let's take tier one, see them one time every single week. You're seeing them for up to four weeks. Your charge is $200. You take four times 200, that's $800.
Greg Todd [00:12:26]:
Okay?
Greg Todd [00:12:27]:
That's the first component of how you calculate a solutions based offer for tier one. The next component is that you're going to take 800 and you are going to multiply it by 1.5.
Greg Todd [00:12:38]:
Okay?
Greg Todd [00:12:39]:
Which means that you're going to take half of 800, which is 400, and add that to the 800, that's $1200. So you are going to be charging someone within tier 1 $1200 to get the result of where they're at with their painful situation to the thing that they desire. We are going to be emphasizing the result over everything else and it's going to be $1200. So you're like, why did you just give me a 50% raise? I like it. Gee, but why a 50% raise? Because this is how a solutions based offer is different than a traditional offer. How is all your competition doing it? They are selling themselves, okay? They're selling themselves. They're telling people, okay, I'm this, I'm that, I'm great, I'm it and buy me for $200 a session.
Greg Todd [00:13:28]:
Okay?
Greg Todd [00:13:28]:
A solutions based offer. We're selling the result and we're letting them know what makes this result unique. Is that it's not just me. Yes, it's me. It's the therapist, it's the chiropractor, it's the whatever your profession is, plus additional guidance, accountability, community and or tools, okay? And those additional guidance, accountability, community and tools is what you are going to use to help them accelerate the result that they're looking for anyways.
Greg Todd [00:13:59]:
Okay?
Greg Todd [00:14:00]:
So that could be books, that could be courses, that could be membership communities, that could be additional equipment, that could be bands, that could be lube, that could be creams, that could be so many different things that you can give to the person that's going to help them accelerate their recovery even faster.
Greg Todd [00:14:16]:
Okay?
Greg Todd [00:14:17]:
And that's what you're going to give and that's how you are going to differentiate yourself from everybody else. Not that you went to University of Florida and this person went to University of Iowa. Not that you went to lsu and this one over Here went to Penn State. Who cares? Okay, not that you have some amazing thing by John Barnes. I love John Barnes. Shout out to him. Or this one over here is Stanley Grabs. Who cares? Nobody cares about it.
Greg Todd [00:14:41]:
Only people I care about is other providers that have fallen into that trap. Okay, so that's what you're going to do. And you now have a $400 budget to be able to use to get the people results, which is what you should be doing anyways. How can I get people results faster? Okay, you guys don't do that right now because all you charge people for is you physically you. So you're like, I'm not, I'm not going to figure that out. You're not using your brain to be able to figure out how can I actually get that result faster. So are you going to use all $400 of it? No, you can maybe use 100, maybe use 150. The rest of it is profit for you, but you're making more money because you're actually thinking for once.
Greg Todd [00:15:18]:
Okay, sorry, I'm getting a little carried away, but I think you know what I mean. All right, I mean well, with this, okay, so that's what you're going to do and that's how you position and how you figure out, okay, this is what I need to charge for my offer. Okay, so that is how you position the actual offer.
Greg Todd [00:15:37]:
Okay?
Greg Todd [00:15:37]:
So now step number seven is going to be how you create a guarantee.
Greg Todd [00:15:42]:
Okay?
Greg Todd [00:15:43]:
So now you got to create a guarantee, you got to do things differently than everybody else. And so what you do is because you're promising people a result, you create a guarantee for them on if they don't get the result. Well, this is what I'm willing to do. So you can create a price based guarantee that I will give you back a portion of your money. You can create a modified price guarantee that I will give you back. Not only it doesn't have to be all the money, but it can be a portion of it. So a full price based guarantee is I'm going to give back all the money, modified based price guarantees. I'm going to give back a portion of it, service based guarantees where I'm going to continue to work with you until you get the results.
Greg Todd [00:16:22]:
A modified service based guarantee is that I'm giving you other components besides me and you can continue to get access to those components until you get the result that you're looking for.
Greg Todd [00:16:32]:
Okay?
Greg Todd [00:16:33]:
Those are all guarantees that we can put in place and there's other ones that you can do like you can do here, like whatever you get paid at your job, you can give them. If there's any lost work time, you can give them money back in accordance to their time. Just many unique things that you can do. And again, this stuff is really, really, really important. The reason why most people can't do guarantees in a clinic is because all of the work is you. So you're like, oh my gosh, if I set it up as a guarantee, like it's all me, so I've lost all my money. But if you set it up in a way that I'm telling you all to set it up, you position yourself in so much of a better way for you to get people result. It's not just around you.
Greg Todd [00:17:17]:
You now have the flexibility to be able to say, hey, I'll give you this guarantee. And if somebody was to take you up on it, it won't kill your business. You'll get so much more business just because you have the guarantee. So even if one or two people end up taking you up on it, for every 10 to 20 you get, you're still going to make so much more in less time than any other way. So that's what you're going to do. You're going to do the guarantee. Okay, now step number eight is where you're going to present the offer. And I can't show this on a podcast episode, but the way that I show people I'm presenting the offer is through a pyramid.
Greg Todd [00:17:50]:
And in a pyramid, what I do is I show people the four different levels of where they can be at regarding their particular situation. So we create a pyramid on the left side of the pyramid. We show them what the symptoms are at each of these different levels and how they are progressing up. We show them the steps on how they move from level one to level two, level two to level three, level three to level four. So what does that look like? Well, I'll kind of give you an example of how I would do it. In my clinics. I would present to people a pyramid and it would be at the bottom level they're injured. At the second level, they're rollercoaster.
Greg Todd [00:18:25]:
At the third level, they are tentative. And at the fourth level, they're injury free. Okay, so I can use this for any body part. Right. And at the first level, injured. The symptoms on the left hand side of the pyramid, I would write that there usually can't do the activities that they like to do. So if they're a runner, they're not running at this time. If they're a crossfitter, they're not at the CrossFit box.
Greg Todd [00:18:47]:
If they are a rower, they cannot practice or participate in competition for rowing. On the right hand side, I talk about usually two to three of the steps that are needed at that area. Am I going to be doing any type of high level strengthening or plyometric work with them? At the level no, I would be doing education. I'd be doing things to help with relieving their symptoms and I'm going to be doing things that's going to help them with pain free movements. Okay, that's the first level. And then that will get them to the fourth level. No, that gets it to the second level. So at the second level I explain the symptoms that they have, the progress we made from level one to level two.
Greg Todd [00:19:29]:
But I explained to them the problems that we still need to work on. Then on the right hand side of the pyramid, I explain to them the steps that we're going to use to get from step two to step three, which is tentative. That tentative. I explain the good things that have happened. I explain the things we need still work on and how their body typically presents. And then I explain these are the steps that we need to get from tentative to injury free. Then at injury free, I explain to them this is the goal, this is what you will feel when you get to this level. And these are the things on the right hand side that we need to do in order for you to stay there.
Greg Todd [00:20:02]:
So I have set it up through my presentation, I've set it up for people to be able to self identify with where they believe they're at and where they want to go. So now I don't have to sell, they are selling themselves. And then once they say, okay, I believe I'm at level one, I want to get to level four, I know which tier I can put them in, I know how long it's going to take. And then I will sell them on that solution based offer or just present it to them and then they can decide whether they're going to move forward or not. Such a cleaner way of doing it. You know what else it now doesn't make? People have to buy you. All you have to do is to show your staff this is how you present. So it makes it much easier for new grads to come in and to be able to get them to lock people in at high ticket prices.
Greg Todd [00:20:45]:
But it's very hard for a new grad to come in and lock someone at high ticket price when they're fresh out. Of school and they're green and they don't have a system or process. Set a framework. This is a system, process of framework and it's, it's very, very, very little risk for the client. And it's, it's much easier for the newer grad to be able to convey. Also, you're now not worried about, oh my gosh, if this therapist leaves, I'm screwed because this is my rock star. No, you now have the framework as the rock star. The framework can be executed by anybody that understands framework.
Greg Todd [00:21:19]:
You are now selling people on the result. Whereas what we're doing with most of our therapists is we're getting them to sell themselves. So if you lose them, your business crumbles. And that's a reason why it's very hard for you all to grow at scale. So that's what you do. That's how we present the offer. And then we create in step number nine, a mutual agreement. Okay? A mutual agreement.
Greg Todd [00:21:41]:
So we say, this is what we're going to do. This is the goal, this is the commitment that I want from you and this is what I'm willing to do in order to help you get the commitment. It's a binding agreement. They sign, you sign, and now we're ready to roll. And the last step is to collect payment. So there's different ways it's going to be more because if you're a tier one, it might be a little bit less than what they're paying with you now. But tier 2 and tier 3 can be 2000-3000-4000-5000. Some people have tier 3 at over $8,000 and people are buying them.
Greg Todd [00:22:19]:
Okay?
Greg Todd [00:22:19]:
So if they're doing that, what we do is we either charge them upfront for everything in full, which is what I would rather, but some people can't do that. So what we'll do is whatever the tier is, for the length of time of the tier, we can give them weekly payments that come up to that amount, that you can even charge a little bit more for interest just so that you protect yourself.
Greg Todd [00:22:41]:
Okay?
Greg Todd [00:22:41]:
And so that's what we do. And inside of our software, we just set them up on weekly payments. It can come out of their checking account directly, it can come from a credit card. However you want to set it up. That's a solution based offer. I don't know of any other way that you all are going to make it as traditional clinicians if you don't do this. You have such little margins. You are one mini blip, one mini issue from you not even being able to make your payroll, much less as something actually happens.
Greg Todd [00:23:14]:
And I don't know, I live life and things happen. You are one person leaving your company away from it, being totally shattered. It's because your business model sucks. It's just not set up. It's not set up to be able to handle anything. But only best case scenario. So that's what a solutions based offer is and that's how it works. And.
Greg Todd [00:23:35]:
And I basically gave you all the steps. Now if you guys want help with how to actually put this into play and for my team to actually help you construct it from start to finish, we actually do that. We do that over zoom with people, but we also do that with people coming in personally set the whole thing up for you. So if that's something you're interested in, you can comment like SBO, just text it to our business number 813-534-6453 and we can tell you like, this is what it looks like if we're going to do it. But honestly I just gave you the steps like that's what you got to do and if you do that, it's going to be so much better. So for those of you that want to stay in clinic, that's what you do. You do that. It's a much better way of positioning yourself to be able to win and to win long term and not to get penalized with you actually getting better at your craft.
Greg Todd [00:24:25]:
I hope that helps you guys till next time.
