"Will Charging a Deposit Scare Away Your Customers?" — Transcript

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1. 0:00I've been helping out my family's
2. 0:01practice and I'm in a massive
3. 0:02disagreement with my uncle, the owner.
4. 0:04Last month we had 13 no shows. That's
5. 0:06roughly 25% of our slots. It's killing
6. 0:08our margins. Okay. I mentioned patient
7. 0:11should make a deposit when they book but
8. 0:13my uncle said thinks it's rude or will
9. 0:15scare people away since we're in a small
10. 0:16town. Will this actually scare people
11. 0:18away or just filter out people who don't
12. 0:20respect your time?
13. 0:22Yeah, man. I mean, just like a hotel you
14. 0:24put a deposit down. Like this is not
15. 0:26Like you need you need two sentences of
16. 0:27scripting around this. Putting a card
17. 0:29down for these types of home health
18. 0:30especially medical.
19. 0:31When the when the when the care
20. 0:33provider's time costs real money
21. 0:35it is it is very customary in order to
22. 0:38put a card down. So, let me give you
23. 0:39some degrees on this. So, the lowest
24. 0:42friction
25. 0:44would be asking for no card but doing an
26. 0:46integrity tie down which is like, "Hey,
27. 0:47to be clear, it costs us money when I
28. 0:49pull somebody off the floor
29. 0:51who's not going to be seeing a patient
30. 0:52in order to see you. For any reason you
31. 0:53think you can't make it." So, after
32. 0:54you've gotten the agreement on time, you
33. 0:56basically re-ask again and basically tie
34. 0:58them down. It's like, "Are you a person
35. 1:00of integrity? Are you the type of person
36. 1:01who keeps their commitments? Okay,
37. 1:02awesome because it's going to cost us
38. 1:03real money if
39. 1:04if you if you can't make it." All right,
40. 1:05so that's like the lightest thing you
41. 1:07can do. One step underneath of that is
42. 1:08saying, "Hey,
43. 1:10awesome. Just need to put a card down.
44. 1:12Our intention is not to charge you. We
45. 1:13do have a $200 no show fee if it's
46. 1:14within 24 hours of cancellation.
47. 1:16Obviously, we just It's just how we do
48. 1:18business, right? It's just how we
49. 1:19understand it. We just have too many
50. 1:20people who want the slots with our our
51. 1:21doc
52. 1:22and it's just out of respect for his
53. 1:23time."
54. 1:24>> Yeah, you got to do that. When I was 18,
55. 1:26I was a personal trainer. I would tell
56. 1:27people I'm like,
57. 1:29"If you cancel, that's like an hour I
58. 1:30could have made."
59. 1:31>> Yeah, another session.
60. 1:32>> Another session to help somebody else
61. 1:34gotten someone else in. So.
62. 1:35>> Yes.
63. 1:36The degree underneath of that is that
64. 1:37you can just charge for the console and
65. 1:38then tell them that you're going to
66. 1:40apply that to anything that they choose
67. 1:42to buy. And then the level underneath of
68. 1:44that, the hardest, if you want to call
69. 1:45it the most friction, is you just charge
70. 1:46for the console independent of whether
71. 1:48they work with you. And so, that's kind
72. 1:49of four levels of friction that you can
73. 1:51choose to implement. But no matter what,
74. 1:52this is like
75. 1:54If you're losing 25%, think about this.
76. 1:5625% of slots, which is 25% of revenue.
77. 2:00If you were running, let's say 10%
78. 2:01margins and you could capture the other
79. 2:0225%, you'd three and a half X profit.
80. 2:04All right, so like
81. 2:06there's just there's no like it's it's
82. 2:08unbelievably unlikely this makes you
83. 2:10less money.
84. 2:11All right. If you like this video and
85. 2:13you're a business owner who wants to
86. 2:13break through your current revenue
87. 2:14ceiling, I just sold every lesson from
88. 2:16scaling 10 businesses past 10 million
89. 2:18and three businesses past 100 million
90. 2:20into completely free scaling roadmap
91. 2:22that I've used to go from zero to one,
92. 2:23zero to 10, and zero to 100 plus. And so
93. 2:26you can click here and you can check it
94. 2:27out. Again, absolutely free. And since
95. 2:29you're a business owner, I appreciate
96. 2:30you and enjoy.