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[VIDEO] The one thing that killed yellow pages, taxis and Blockbuster

One of the most fascinating and useful things to study in business – the fall of huge companies.

Think of the companies that dominated their industries for years – Kodak, Yellow Pages, Blockbuster Video, etc. They were the Goliath. They were on top of the world.

Then seemingly overnight, these very same companies were choked out of existence. Kinda scary when you think about it.

And there’s one thing that all these fallen giants have in common. Enter today’s video…

As Michael and I were planning out an upcoming webinar, we decided to stop and shoot this quick video for you about the “Goliath Slayer” – the one product that killed these massive companies after they dominated their industries for decades.

In this short video, we go over:

The one piece of technology that killed massive companies like Yellow Pages, Kodak and the Taxi industry
Why the deaths of these companies had nothing to do with their inherent quality… and why that matters to your refractive marketing and sales processes
Where refractive surgery lies in the “tech transfer” process (this is a huge opportunity)
Why this King-Killer is also a King-Maker for the companies that know how to leverage it in the proper way
And more…

Click here to check it out now.

Make it a great day!

Troy “Phone Book Ripper” Cole

Mask Mandates End in TX (what I’m doing differently)

It’s 72 degrees and the sun is shining in North Texas! Starting to finally feel like baseball season.

In fact my tee ball team – the Rockies – had our first scrimmage last night, a big win against the Pirates. (I’m coaching my 6 y/o son and my 4.5 y/o daughter on the same team. Never a dull moment on the tee ball field!)

In perhaps even bigger news than the Rockies’ scrimmage win…

Governor Abbott announced earlier this week that he’s ending the mask mandate in Texas.

Some people cheered. Others booed.

My personal reaction? Complete indifference. I’ll explain this.

What can I control now that’s different than what I could control during the mask mandate? Nothing. I can control the exact same things.

So what am I doing differently now vs during the mask mandate? Nothing. Because it’s based on the things I can actually control, which hasn’t changed.

Why is this important?

Because I see too many of us adjusting our cares and feelings and behaviors based on distractions we have zero control over.

Presidential runs, cancel culture, mask mandates, what’s happening in the public school curriculum 3 states away. Can’t control that.

I’m not saying these things are unimportant. But we have zero control over them. Yet we think and post and comment and opine about them like we’re getting paid to do it.

Same thing with the competing surgeon down the street – what they are advertising, why they got the new laser, the interview they had on TV last week. Can’t control that.

If you can’t control it, don’t grant it your valuable time and attention.

Focus on what you can control.

And what can you control? Well you can control the energy you put into your team and your patients. Your inputs into your community. The time and attention you give your family.

You can control your team’s ability to book more surgeries – by empowering them with communications training. That way they can convert more leads into consultations, who you can actually help through vision correction.

You can control the ways prospects engage with you, and make it easier for them – by offering online schedulers, web chat, 2-way texting and virtual consultations, for example.

You can control your prices. You can raise them so you’re getting paid what you’re worth and can devote ideal time and attention to each patient. Rather than offering deep discounts and filling your waiting room with a bunch of lookie-loo, tire-kicking cheapskates that drain your energy and run your staff ragged.

Focus on what you can control. Which means you have to stop devoting so much time, attention and energy on the things you can’t.

If we all do this, we will see lives changed. And you’re in the life-change business. So let’s go.

Troy “Control Freak” Cole

[Lessons from Snowmageddon] Pivot if you want to Prosper.

Another lesson from last week’s insane cold snap in Texas, which took our temps below zero and knocked out our power, heat and water for 3 days.

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Pivot if you want to prosper.

This is a lesson we learned back when the COVID lockdowns started, and I was aptly reminded during last week’s TX cold spell.

Sometimes, the universe hits you with the unexpected, and it’s 100% out of your control. ¯\_(ツ)_/¯¯

Like when the government tells you to close your practice…

Or when the governing body of your local electricity grid decides to shut the whole thing down for days on end…

We can’t control those situations. But we can control our reaction to them.

And boy, the frustration is immediate, isn’t it? But just as quickly as you want to punch a wall (or a politician), you must also quickly pivot if you want to survive and prosper. Get creative. Figure it out.

For us last week, that meant a few things:

We had to stay warm. We have fireplace in our bedroom. And unlike our large living room, where the fireplace only heats the area right in front of it, our bedroom is smaller and more balanced relative to the heat coming from the fireplace.

The fire actually kept the room at a decent temp (unlike the rest of the house, which hovered around 40 degrees). So we moved everyone into our bedroom and made that home base for a few days.

Susan and I took turns “manning the fire” – setting alarms through the night to wake up and throw on logs to keep it going (no gas here). And it worked out pretty well.

I still had businesses to run. Without power – and with most of my work relying on laptops and smartphones – I needed a solution.

Thankfully my wife’s suburban has built-in wifi and power outlets. So I would go stretches in the car, doing work, charging devices, and making calls and Zoom meetings.

“Um, Troy, what are you doing Zooming in your car?” Doing what I gotta do to get done what I need to get done, dude.

Taking care of the kids. Kids – I have a lot of them (4 to be exact, 8 and under). They don’t exactly like being cooped up.

So how were we going to keep them from going stir crazy (and driving us insane in the process)?

Well, we gamified as much as we could. We literally played board games, roasted hot dogs in the fire for dinner, and watched nature documentaries on the iPad.

We made the whole thing a “campout” and an “adventure” for them, and they got on board.

Point of all this is – when life hits you with unexpected things, you’ve gotta pivot, get creative and make the best of it. Otherwise you surrender what little control you have of your survival.

And an added bonus – sometimes you find new opportunities in the creativity. For us, we discovered the need and value of having an emergency generator. So we’re getting one to be more prepared in the event this happens again.

For you during your COVID pivot, you may have discovered the benefits of marketing virtual consults to your patients. What you did out of necessity became a new practice growth asset for you.

These situations are good reminders of our ability to adapt and overcome. And even when you aren’t faced with giant setbacks – like practice shutdowns or crazy winter ice storms – you should always be ready to pivot and take advantage of new opportunities.

Doing “the same old thing” and hoping for the best isn’t a winning strategy. Keep innovating, keep leading the pack, and that’s how you keep growing.

After all, your entire practice and industry is built on creating new and better ways to solve big problems. So keep up the innovation.

Have an amazing Wednesday…

Troy “Never Not Innovating” Cole

PS – Whenever you’re ready, here are 3 ways we help refractive surgeons book more surgeries…

One. Leverage Virtual Consultations.
For all the bad that came from COVID, one arguably good thing is that it accelerated the adaption of home-centric consumer lifestyle.

Why is that good? Because people are now comfortable “doing life” from home – including booking virtual consultations with refractive surgeons! Practices who have properly introduced the Hybrid Model of Patient Engagement (Virtual Consults + Traditional In-Office Consults) are growing their surgery volume faster than ever.

With our Patient Prime System, we build your entire Virtual Consultation process for you. Reply “Virtual” if you want more info on Patient Prime.

Two. Fix Your Phones.
The highest leverage opportunity within any practice lies within their sales team, particularly on the phones. You’d be amazed at how much revenue leaks out of your phones by way of prospects who contact you, but never book a consult. We’re talking 6- to 7-figures a year.

Want to fortify your practice against this massive leak? Reply to this email with “Sales” and I’ll get you more details on how to identify your weak points on the phone (and how to solve them).

THREE. Mastermind with the Best in the Business.
Want to hear what’s working for world-class refractive surgeons across the country? Want expert marketers to review your ads, website and marketing materials and show your marketing team how to make them perform even better?

If so, our Refractive Mavericks Mastermind may be the right environment for you. Reply “Mastermind” and I’ll get you more details.

[Lessons from Snowmageddon] Hidden leaks are expensive.

As you may know, last week was Snowmageddon here in Texas. Now that we’re out of the sub-freezing temperatures, I’m sharing a few observations and notes from 3 days without power, water or heat.

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Hidden leaks are expensive.

Last week’s Texas Snowmageddon was one for the books, I tell ya. And before you think. “Troy, 0 degrees isn’t that cold. It gets down to -20 in [insert your frozen tundra state].”

I’ll just say the cold wasn’t the problem. Heck, I was outside in a t-shirt and shorts playing football with my boys at the beginning of this thing…

It was all fun and games until the power went out.

(The cold isn’t the issue. The inability to warm up is the issue.)

We had 3 days of no electricity, no central heat and no water, with temps dropping to -5 degrees. And I’m not complaining, because we still had a ton of firewood, plenty of food and cases of bottled water to tide us over. We managed just fine, and it’s good to go through times that build resiliency and show you your weak points.

We finally got power back Wednesday evening, but there was still a big question mark around the water.

Would we have damage to the water system? Did we have any frozen pipes burst?

Did we have hidden leaks?

It’s one of those questions that couldn’t be answered immediately, or by just looking at the surface.

We had to investigate. We had to put heat lamps on the water well, the purification system and all the pipes. We had to look for issues.

Sure enough, as soon as I was able to thaw the pipes in my garage, I discovered it. A giant crack in the PVC pipe, water pouring out.

I had to rebuild the whole connection, which cost me money and time (about 6 hours between the actual work and multiple trips to every hardware store in town. All of Parker County was scouring the PVC shelves…)

I had to find the leak and fix the leak if I wanted water to flow in my house. And thankfully I was able to do that quickly, without significant damage.

My neighbors weren’t so lucky. They didn’t discover their leak until half their ceiling collapsed. The leak was within the walls of the house. They couldn’t see it. And now they’re dealing with thousands of $$ of damage because of it.

Because hidden leaks are expensive. Not just within a home, but also within your Patient Journey.

Leaks in your Patient Journey are often hidden, and they also become expensive over time. A few leads “leak” here, a few non-converted consults “leak” there, and suddenly you have $50k – $100k (or more) “leaking” from your surgery schedule every single month.

When practices engage us because they want to do more refractive surgery, the first thing we do is “find the leaks.”

And there are always a few common leaks that cost a practice at least 10-30 new refractive patients each month.

Fix the leaks and the patients flow, just like water.

I didn’t have to dig a new water well, put in new equipment or retool my entire system. I just had to fix the leak, and the rest of the water system could do it’s job.

You don’t have to overhaul your entire practice, double your marketing budget or drop your prices. Just find the leaks and fix them.

If you wanna know how to solve the most common – and expensive – leak that I see in elective practices (refractive, plastics, etc), reply to this email. I’ll send you a private audio recording where I cover this specific leak in detail, and tell you how to correct it.

Fix this one leak and you’ll add 10+ refractive eyes next month.

– Troy “Leakless” Cole

DFY FAQs – Answers about done-for-you virtual consults

A couple of days ago, I shot you this email going over the #1 virtual consult “road block” all practices face.

In case you missed it, the road block is about logistics. Many practices understand the new need for a Hybrid Model of Patient Engagement (Virtual Consults + Traditional in-office Consults).

But they still have to answer the logistical challenge – “WHO is going to do these virtual consults and HOW do we fit them into our already hectic/busy schedule?”

One new solution we’ve introduced to overcome that road block – Done-For-You Virtual Consults. For practices who enroll in this beta program with us, we will actually do the virtual consultations for you.

We’re getting a number of questions about how this works, and I want to address some of those common questions today.

“Why would you offer done-for-you virtual consults?”

We’re seeing many practices who want to move forward with virtual consults, but they don’t have the bandwidth. This service meets a real need in the marketplace.

It also makes virtual consultation offering a much easier decision for the practice.

You don’t have to figure out who does them, how to schedule them, where they fit in your schedule, etc. You skip all that. We handle it. We conduct the virtual consults for you.

“Who is actually doing these virtual consults for us?”

If someone’s going to do virtual consults for your practice, you want to make sure they represent you well. That’s priority #1 for you and us.

The individuals who will be conducting these virtual consults all meet the following criteria:
– US- or Canada-based
– Actively (or previously) worked in a refractive practice, or in the refractive space (think pharma rep, BDMs)
– Strong communication skills
– Strong ability to sell premium services

We have visibility into many practices – either as direct clients of ours, through masterminds and networking, and through our own ninja research (secret shopping, etc).

Flat out, the counselors we’re using for this program are better salespeople than most practices have in their offices. Frankly even if a practice has the bandwidth to do virtual consults, it probably makes more sense for us to handle them.

“You’ve used the S-word – Sales – several times, Troy. Tell me more about that.”

Priority #2 on virtual consults – whoever is doing them needs to be able to direct the conversation and convert virtual consults into pre-ops. In short, they need to have sales skills.

Some folks reading this are nodding their heads in agreement right now. They understand that sales is the lifeblood of any business, including your practice.

Others read this with hesitation, thinking along the lines of, “Well we don’t like the word ‘sell.’ We don’t want to ‘sell’ our services.”

If you fall into the latter category, all I can tell you is that if you aren’t selling surgeries, you aren’t growing your practice. If you aren’t selling your surgeries, your prospects will go to the chain LASIK center down the street that is selling theirs.

If you wait for your prospects to make hard decisions for themselves – if you don’t take the leadership role and help them make the right decision for them – well, you’ll be waiting a while. And honestly, you aren’t serving your prospects the way they deserve if you let them wait and stew in their own indecision.

The modern sales process isn’t like the old school, hard-sell tactics of the past. People don’t go for that anymore. Modern sales is built around leadership and authority.

The #1 rule of modern sales – help your prospect make the decision that’s right for them.

And on the virtual consultation, the decision we’re helping them make is “Does it make sense for you to move forward with a pre-op exam?” As long as the prospect meets all the qualifications, that’s what’s “for sale” on the virtual consultations.

“How do you know our qualifications, about our doctors, our treatments, etc?”

Of course we need some specific information about your practice. We do this simply through an onboarding form and launch call with your team.

We get the pertinent info we need about you and your treatments, and we figure out a mechanism we can use to book these folks into your system for a pre-op appointment (as long as they meet the criteria we establish on the virtual consult).

”What does the actual process look like?”

Let’s walk through this:

Step 1 – Click – Prospect Sally clicks on one of our posts, ads or prompts on your website to book a virtual consult.
Step 2 – Book – Sally schedules her virtual consult using the scheduling tool we build for you.
Step 3 – Reminders – We remind Sally when to show up for her virtual consult, and provide her the instructions for how to log on.
Step 4 – Actual Consult – On the day and time she selected, Sally jumps on the virtual consult with our counselor. We take her through the consultation, build rapport, determine if she is a good fit, and book her for a pre-operative appointment in your office.

“If you guys are doing the virtual consults, what do we have to do?”

Let’s start with what you do NOT have to do:

✅ You DON’T have to reach out to these people and try to get them on the phone.

✅ You DON’T have to book anything with them.

✅ You DON’T have to worry about any of the tech necessary to do the virtual consult.

✅ You DON’T have to rearrange your schedule to accommodate virtual consultations.

✅ You DON’T have to hire anyone, or stretch your team too thin, to add virtual consults to the mix.

So what DO you have to do? Greet these patients with a smile when they come in for their pre-ops, book them for surgery and take their money. That’s it.

“How do we get started?”

You reply to this email and ask for more details. We jump on a quick call to make sure you’re a good fit (we have specific criteria practices need to meet. This isn’t for everyone).

And if you’re a good fit, we walk you through the process and you can decide if you want to do it or not. Simple, straightforward and easy.

Got any questions I didn’t address here? Reply with those too.

– Troy “FAQ Yes” Cole

PS – Quick reminder – This beta program is only open to 3 practices, and we already have one spot filled.

If you’re interested, don’t wait until next week. Hit the ‘reply’ button now to hold your spot in line.

PPS – Whenever you’re ready, here are 3 ways we help refractive surgeons book more surgeries…

One. Leverage Virtual Consultations.
For all the bad that came from COVID, one arguably good thing is that it accelerated the adaption of home-centric consumer lifestyle.

With our Patient Prime System, we build your entire Virtual Consultation process for you. Reply “Virtual” if you want more info on Patient Prime.

Two. Sell More Surgery.
The highest leverage opportunity within any practice lies within their sales team, particularly on the phones. You’d be amazed at how much revenue leaks out of your phones by way of prospects who contact you, but never book a consult. We’re talking 6- to 7-figures a year.

If so, our Refractive Mavericks Mastermind may be the right environment for you. Reply “Mastermind” and I’ll get you more details.