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Transform ideas into million dollar opportunities · Inside Strategic Relations

0:01
Speaker 1: One of the things that I do in my consulting
0:02
Speaker 1: practice has helped clients with million dollar problems. Now, many
0:06
Speaker 1: times they don't know they have this million dollar problem.
0:09
Speaker 1: This million dollar problem itself is a potential another million
0:13
Speaker 1: dollars in the business. It's a potential solving a problem
0:17
Speaker 1: that's costing a million dollars.
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Speaker 2: I'm going to share one of those ideas.
0:20
Speaker 1: Today and the typical result or response I get from
0:26
Speaker 1: folks and how I handle that as a consultant, I'm
0:30
Speaker 1: justin hit with inside strategic relations and this has a
0:33
Speaker 1: lot to do with interactions. This has a lot to
0:36
Speaker 1: do with lost opportunity and attitude. So I'm sitting in
0:39
Speaker 1: the doctor's office. They take a dentist today. I had
0:42
Speaker 1: a cleaning today and they took the X rays and
0:45
Speaker 1: they start the cleaning, and I'm thinking, in the evolution
0:51
Speaker 1: of going to this doctor, I've been going there since
0:53
Speaker 1: twenty twelve, twenty twenty three, something like that. I'm sorry,
0:57
Speaker 1: twenty twelve, twenty twenty thirteen, and.
1:01
Speaker 2: They have X rays from every year till now.
1:05
Speaker 1: And as an aging adult, I'm concerned a little bit
1:08
Speaker 1: about shifting of teeth in the mouth. As a lot
1:11
Speaker 1: of people are because in my region, I see a
1:13
Speaker 1: lot of folks that have sunken in faces and their
1:16
Speaker 1: teeth are all gangly, and a lot of times that's
1:19
Speaker 1: no fault of their own. It could be diet, it
1:21
Speaker 1: could be sinus issues. And again I'm sharing this with
1:25
Speaker 1: you so you can understand the thought process of uncovering
1:28
Speaker 1: million dollar ideas. And this particular dentist is successful. You know,
1:33
Speaker 1: you don't want to do business with unsuccessful people. And
1:36
Speaker 1: the dentist has at least a thousand clients, so there
1:39
Speaker 1: are at least a thousand clients in the business. They
1:43
Speaker 1: have historical dental records digitized. Now it's in this system
1:48
Speaker 1: called dentex. You can't necessarily just export these records, but
1:51
Speaker 1: I'm sure they're there somewhere and you can interface with
1:54
Speaker 1: an API and pull those records. And I was thinking, well,
1:57
Speaker 1: AI is very good at predictive and if my my
2:00
Speaker 1: concern is in the future having a sunken in phase,
2:04
Speaker 1: having teeth that are ground off, having other things that
2:08
Speaker 1: are dental problems that if I just knew, maybe it's
2:12
Speaker 1: a facial progression image, maybe it's a you know, looking
2:18
Speaker 1: for the checklist that doctors typically look at the dentist
2:21
Speaker 1: has a checklist they use when they look at the
2:23
Speaker 1: X ray.
2:24
Speaker 2: Maybe it's one of those things.
2:25
Speaker 1: But the system itself is analyzing this data set, which
2:30
Speaker 1: is your dental health history, and then just basically identifying
2:35
Speaker 1: some flags or some areas in which the doctor might
2:38
Speaker 1: look for additional information. Okay, we're not replacing the doctor.
2:42
Speaker 1: We're not replacing the high gentist. We're just giving the
2:45
Speaker 1: doctor a little bit more speed when it comes to
2:48
Speaker 1: the daily practice they have already. Now, that is an
2:51
Speaker 1: example of an incremental improvement, and that typically does not
2:56
Speaker 1: result in millions of dollars in new business. It doesn't
2:59
Speaker 1: result in better care for your patient. It is more
3:04
Speaker 1: efficient care, it is faster identifying problem. So typically folks
3:10
Speaker 1: can get a better idea of preventative measures. But prevention
3:14
Speaker 1: is very often the last thing people think about. Prevention
3:18
Speaker 1: seems like costly, prevention seems like it's difficult. Prevention is
3:22
Speaker 1: a new thing to worry about. And so where is
3:25
Speaker 1: the million dollar idea?
3:27
Speaker 2: Now?
3:27
Speaker 1: I'm going to put this million dollar idea out here
3:29
Speaker 1: because I believe that these ideas can live in open spaces. Now,
3:33
Speaker 1: from a respective intellectual property I'm also documenting the fact
3:38
Speaker 1: that I've had this idea today, which is January twenty third,
3:43
Speaker 1: twenty twenty six, and then I can monetize it in
3:47
Speaker 1: the marketplace by a partnership agreement, by a joint venture,
3:51
Speaker 1: by serving as a consultant on somebody doing this for
3:55
Speaker 1: a dental platform or doing this for dentists. Because the
3:58
Speaker 1: extra value add is the business development element where we
4:02
Speaker 1: now have a percentage of these thousand clients come in
4:06
Speaker 1: each year for a preventative, not a preventive for their
4:12
Speaker 1: preventive dental but this is a cosmetic or ego driven
4:18
Speaker 1: sale where now they can see if they're at risk
4:22
Speaker 1: for sunken mouth, if they are at risk for root cavity,
4:29
Speaker 1: if they're at risk for all these painful things that
4:32
Speaker 1: could happen with their teeth, because we're going to use
4:34
Speaker 1: an artificial intelligence model specifically designed to look for these
4:40
Speaker 1: fifteen things that are typical and are identifiable via X ray. Now,
4:48
Speaker 1: the reason this is a million dollar idea is because
4:50
Speaker 1: it's something that a client would pay additional for and
4:54
Speaker 1: it's something that is tied to either cosmetic surgery, tied
4:58
Speaker 1: to a you know, getting braces or retainers or part
5:03
Speaker 1: of an overall preventative that could be a value add
5:08
Speaker 1: paid for separately. Now, when the dentist came back in,
5:13
Speaker 1: I said, well, first off, I raised it to the hygenis.
5:16
Speaker 1: I said, look, I think I have an idea that
5:19
Speaker 1: can add a million dollars to this practice. And so
5:22
Speaker 1: I asked her a few questions. Are there is the
5:25
Speaker 1: angle in which they always take they take the X
5:28
Speaker 1: rays within a certain variation?
5:30
Speaker 2: Is it?
5:30
Speaker 1: Is it prescribed a certain angle? Yes, it's described a
5:33
Speaker 1: certain angle. Are there teeth in someone's mouth that are
5:38
Speaker 1: typically framed like they're not going to move around too much?
5:41
Speaker 2: Well, there's not.
5:42
Speaker 1: All Your teeth can move independently, okay, so there's an
5:45
Speaker 1: independent access of positioning of the teeth. Are there anythings
5:50
Speaker 1: in the in the X ray that are actually fixed? Yes,
5:57
Speaker 1: your chin position and the angle of your jaw tends
6:01
Speaker 1: to be fixed in every X ray.
6:03
Speaker 2: So there's your frame of reference.
6:05
Speaker 1: Now I'm thinking about Okay, Well, we can detect the
6:08
Speaker 1: shifting of teeth. We can detect a enamel getting worn down.
6:12
Speaker 1: We can detect changes in coloration or density of individual teeth,
6:17
Speaker 1: which might identify a root system being having issues. Can
6:23
Speaker 1: we identify any anomalies in the picture? And so the
6:26
Speaker 1: dental hygienis, while she's working on my teeth, reluctantly but carefully,
6:30
Speaker 1: gives me some information. When the doctor comes in, I think, hey, doctor,
6:34
Speaker 1: now again I am weird. I will sit there while
6:37
Speaker 1: what else am I going to think about while they're
6:38
Speaker 1: cleaning my teeth? Really so I'm sitting there thinking, Okay, well,
6:42
Speaker 1: if we position this, how do we get dentists to
6:44
Speaker 1: use it? Because again a thousand patients, only a small
6:48
Speaker 1: percentage of these patients are going to use this service.
6:52
Speaker 1: But can we use the new service as a demonstration
6:56
Speaker 1: of how technologically advanced this particular dentist is. Can we
7:00
Speaker 1: package the marketing around this particular element in order to
7:05
Speaker 1: offer that marketing to other dentists in case a competitor
7:08
Speaker 1: beats us to market what kind of software is going
7:11
Speaker 1: to need to be developed? So this is what I'm
7:14
Speaker 1: thinking about while I'm getting my teeth clean. Now the
7:17
Speaker 1: doctor comes in and I let the doctor look at
7:19
Speaker 1: the x ray first. The doctor looks at the x ray,
7:23
Speaker 1: he says, everything looks great, And I say, he, is
7:25
Speaker 1: there a checklist that you go through? Because I'm thinking, Hey,
7:28
Speaker 1: I can look up at dental schools, and the dental
7:32
Speaker 1: school can use the checklist or has published the checklist somewhere,
7:37
Speaker 1: and I can use that in the software of the
7:39
Speaker 1: fifteen things that we're going to look at, and I
7:42
Speaker 1: can use it in the marketing because I didn't know
7:44
Speaker 1: there was a checklist the doctor goes.
7:46
Speaker 2: Through when he looks at the the X ray teeth.
7:50
Speaker 1: So again, we're gathering information, we're developing a market, we're
7:55
Speaker 1: understanding the value. Now the doctor does not get a
7:58
Speaker 1: referralra referring for braces, and the doctor does not get
8:05
Speaker 1: a referral fee or some kind of spiff for referring
8:09
Speaker 1: for cosmetic surgery. Now that's good for the patient because
8:12
Speaker 1: we don't want the doctor I incentivized to recommend additional services.
8:18
Speaker 1: But this particular doctor doesn't do cosmetic surgery at their place.
8:21
Speaker 2: Now why do I mention that?
8:24
Speaker 1: Well, you want to be looking at different sources of
8:27
Speaker 1: revenue and how those revenue can stack together to maximize
8:31
Speaker 1: the number of incidents of doing this particular work. If
8:36
Speaker 1: it's a diagnostic, what's the diagnostic solving for. You know
8:41
Speaker 1: a certain number of people have jaw cancer every year.
8:45
Speaker 1: A certain number of people have hidden dental issues every year.
8:51
Speaker 1: Come in and have this ninety seven dollars analysis part
8:56
Speaker 1: of our health plan, or pay extra twenty dollars a
9:01
Speaker 1: month for this type of health profile that is proven.
9:07
Speaker 1: Because again an AI is a predictive analytic. It's a
9:11
Speaker 1: it's gonna say it can take all the pictures and
9:13
Speaker 1: show age progression based on dental X ray and then
9:19
Speaker 1: you take a couple of photographs of the face and
9:21
Speaker 1: now somebody can see themselves in the future and if
9:24
Speaker 1: their fear is sunken teeth, crooked teeth, additional expenses. In fact,
9:29
Speaker 1: for a young child, you might even be able to
9:31
Speaker 1: avoid braces. Now again people don't want to, they're not
9:37
Speaker 1: preventative so much, but they will try to avoid things.
9:41
Speaker 1: Children fear being made fun of for having braces. There's
9:45
Speaker 1: concern about microplastics from some of the retainer based systems.
9:50
Speaker 1: And ultimately we educate the client. The client will pay
9:53
Speaker 1: for the solution. Another aspect is the syndication. Is this
9:58
Speaker 1: something that once developed, we can then package so that
10:02
Speaker 1: other dentists can use it. So in this case, I
10:05
Speaker 1: survey one dentist. But this practice has four dentists. And
10:10
Speaker 1: so by the way, it's not four dentists with a
10:13
Speaker 1: thousand patients. There's more than a thousand patients.
10:18
Speaker 2: For four dentists.
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Speaker 1: Each of them can have almost six or seven hundred patients.
10:22
Speaker 1: Over the course of the year, they have three or
10:24
Speaker 1: four patients a day come in for just that single dentist.
10:28
Speaker 2: So again that's part of the syndication.
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Speaker 1: If this works well, now we can have that new
10:33
Speaker 1: client package, So that new mover package where somebody comes
10:37
Speaker 1: to the neighborhood and you're going to say, hey, for
10:39
Speaker 1: ninety seven dollars, we're gonna do this evaluation. We're going
10:42
Speaker 1: to get your dental records from your other dentists. Again,
10:46
Speaker 1: moving the records to one location improves retention, or improving
10:49
Speaker 1: retention improves the overall finances of an organization. You see
10:54
Speaker 1: what we're doing here. We're stacking.
10:56
Speaker 2: Now.
10:56
Speaker 1: I know I covered a lot of different points here
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Speaker 1: in the in practice. If when I said to the dentist,
11:02
Speaker 1: I think I have a way to add another million
11:05
Speaker 1: dollars to you practice. Is that something you're interested in?
11:08
Speaker 1: And he said, yeah, he's interested in it. But then
11:10
Speaker 1: he immediately had the objections of there's there's already companies
11:16
Speaker 1: working on that. You know, there's add ons to our
11:19
Speaker 1: dental practice that we can get that kind of thing.
11:21
Speaker 1: And I say, are they going to sell you a
11:23
Speaker 1: turnkey kit and then also a marketing plan, because again
11:29
Speaker 1: the marketing is valuable, the thing is valuable, and so
11:34
Speaker 1: he wasn't really jumping out of his shoes to be
11:36
Speaker 1: interested in it. Now, as a consultant, I don't need
11:39
Speaker 1: to chase him and say, hey, you know, I'm really
11:42
Speaker 1: sure this is going to make money for you. They
11:45
Speaker 1: don't want sure, they don't want my assurance, they want
11:47
Speaker 1: the money. And so there could be a challenge in
11:50
Speaker 1: how I pitched it, but ultimately I don't lose any
11:53
Speaker 1: money by raising the idea. I don't lose any money
11:56
Speaker 1: by presenting the podcast. The overall concept is, though, that
12:01
Speaker 1: the if you have one thousand or more customers and
12:05
Speaker 1: you have one more incident a year of ninety seven
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Speaker 1: dollars or two hundred and ninety seven dollars, where you're
12:13
Speaker 1: offering something of value to the client that speaks to
12:15
Speaker 1: their vanity, speaks to their ego, speaks to their overall outcome,
12:21
Speaker 1: beneficial outcome, you will tend to pick up some cash,
12:24
Speaker 1: but that alone is not going to take you to
12:27
Speaker 1: that million dollar area. That alone is going to be
12:31
Speaker 1: a proof of concept which you build a marketing program around.
12:36
Speaker 1: Because again, like I said, if you can get just
12:39
Speaker 1: one new patient somebody moves to from the out of
12:41
Speaker 1: the area, they're an affluent individual, they come in and
12:44
Speaker 1: they are a new patient, and then you have a
12:48
Speaker 1: retention program in place which includes value adds services they
12:52
Speaker 1: cannot get anywhere else.
12:54
Speaker 2: It comes with objective on.
12:57
Speaker 1: You know, the doctor can even say in their marketing,
13:00
Speaker 1: we don't get any money to refer you for braces,
13:05
Speaker 1: we don't get any money to refer you for cosmetic surgery.
13:08
Speaker 1: And the reason why is because we have a plan
13:11
Speaker 1: that's designed to serve you as you serve your oral health,
13:15
Speaker 1: because again, oral health can impact Alzheimer's. Oral health can
13:20
Speaker 1: impact overall health. Oral health impacts how you're seen in
13:25
Speaker 1: the public. And then ultimately, what we've got now is
13:29
Speaker 1: to add to the turnkey element, the big margin element
13:32
Speaker 1: is adding then these small opportunities to have a consultation,
13:39
Speaker 1: these small opportunities to build a package for new people
13:41
Speaker 1: in the community, a small opportunity to offer a value
13:45
Speaker 1: added service someplace else. Now my dental appointment was two
13:48
Speaker 1: hundred and eleven dollars or two hundred and twenty one
13:52
Speaker 1: dollars was the dental appointment. I pay cash for everything.
13:55
Speaker 1: It just we'll talk about why in another talk. But again,
14:01
Speaker 1: if that every once a year is an extra ninety
14:08
Speaker 1: seven dollars profit, most likely, and it's something that can
14:12
Speaker 1: be done with a brief consultation done by a hygentist.
14:16
Speaker 1: The dental model is the hygienister making all the money,
14:19
Speaker 1: by the way, and it can be done by the
14:21
Speaker 1: hygentist verus checked off by the doctor. Then it becomes
14:26
Speaker 1: something that retains customers, It becomes something that's plus money
14:32
Speaker 1: to the business. It becomes something that is not going
14:35
Speaker 1: to change the normal flow of activity. See a lot
14:38
Speaker 1: of times your clients when you bring up a million
14:40
Speaker 1: dollar idea, they are already making good money. They already
14:45
Speaker 1: got as system in place, and they don't want anything
14:48
Speaker 1: that's going to disrupt that apple cart. And so again
14:52
Speaker 1: when they say no, I didn't get a know today,
14:56
Speaker 1: but I do know. Since he couldn't easily export the
14:59
Speaker 1: records for me to satisfy my own curiosity of running
15:02
Speaker 1: my own medical records through an AI model because I
15:06
Speaker 1: have access to an AI model.
15:08
Speaker 2: By the way, there's a risk here.
15:09
Speaker 1: You can't put a patient's medical records into AI.
15:13
Speaker 2: I just happen to have my own private AI model
15:16
Speaker 2: to work with.
15:17
Speaker 1: So the underlying thing here is it could be worth
15:21
Speaker 1: ten million dollars a year if we license the marketing package,
15:25
Speaker 1: if we identify the procedure, if the doctor gets an
15:29
Speaker 1: opportunity to speak about their innovative approach, if the software
15:33
Speaker 1: package now has a monthly licensing fee, which could be
15:37
Speaker 1: an add on to DENTEXS or whatever platform that they're using.
15:40
Speaker 1: That's where the million million dollar idea comes. And if
15:44
Speaker 1: they don't have the interest in that first step, then
15:48
Speaker 1: you're not going to get a partnership or a joint
15:52
Speaker 1: venture in order to promote such a such a solution.
15:55
Speaker 1: Now why joint venture, Well, joint venture is a very
15:57
Speaker 1: low risk approach to something. See that doctor is not
16:01
Speaker 1: going to be able to do the software development or
16:03
Speaker 1: bring in the people and manage the marketing that would
16:06
Speaker 1: be necessary to offer a new product. Andja Abraham talks
16:10
Speaker 1: about the parthenon. If you've got five columns to your business,
16:13
Speaker 1: and each column is profitable and we've dialed that in
16:16
Speaker 1: that sixth column that comes along.
16:20
Speaker 2: If it is equally profitable or feeds any of.
16:23
Speaker 1: The other profit channels, then it becomes a very logical
16:27
Speaker 1: and quickly profit producing part of the business. And so
16:34
Speaker 1: the joint venture allows you to put that pillar in
16:37
Speaker 1: place to add a new product or to test a
16:41
Speaker 1: new product without the risk of disrupting the rest of
16:46
Speaker 1: the structure.
16:47
Speaker 2: And again, business is about structure.
16:49
Speaker 1: You're going to have in a dental office, You're going
16:53
Speaker 1: to have the typical twice a year cleaning, and then
16:57
Speaker 1: everything on the internet says that's not necessary.
17:00
Speaker 2: Those cleanings are actually.
17:03
Speaker 1: Have a small element of consultation or discovery, and then
17:08
Speaker 1: if they see, okay, you now have a cavity that
17:12
Speaker 1: needs filled, or you have a tooth that needs to
17:15
Speaker 1: be removed. That is another pillar of a dental office.
17:19
Speaker 1: The dental office also has emergencies, so if someone cracks
17:23
Speaker 1: a tooth or something like that, they have that type
17:25
Speaker 1: of work as well. If we added another pillar, which
17:29
Speaker 1: would be this diagnostic that avoids the sunken mouth syndrome,
17:36
Speaker 1: avoids the painful cavities because we're going to catch cavities sooner.
17:42
Speaker 1: That's the whole reason. They're already going in and getting
17:44
Speaker 1: the preventative. And then we're gonna look at the structure
17:47
Speaker 1: of the mouth using innovative technologies that unlock things that
17:54
Speaker 1: we can't see, can literally see into the future. And
17:56
Speaker 1: then of course we have the photograph of their actual face,
18:00
Speaker 1: and then we layer those two with a wireframe and
18:02
Speaker 1: then ultimately can show them what their mouth will look
18:05
Speaker 1: like in the future. By the way, psychologically, you don't
18:08
Speaker 1: want to show them what they.
18:09
Speaker 2: Will look like in the future.
18:10
Speaker 1: You want to show what their mouth will look like
18:12
Speaker 1: in the future, because if you show them what they
18:15
Speaker 1: look like in the future, that can cause psychological issues.
18:19
Speaker 1: The age progression apps that are available, it can cause
18:23
Speaker 1: some emotional problems. You ultimately can show them, though with
18:27
Speaker 1: a high degree of certainty, the progression of their mouth,
18:33
Speaker 1: if no other actions were taken now within visile line.
18:37
Speaker 1: If that's a pillar in a dental office, you can
18:40
Speaker 1: then offer them in visile line.
18:43
Speaker 2: If there's a pillar in the office, that is.
18:45
Speaker 1: A care program where you're maybe.
18:48
Speaker 2: Going to prepay the future service.
18:53
Speaker 1: So hey, we've identified that there's a cavity here or
18:56
Speaker 1: we identify the potential for a route canal, but it's
18:59
Speaker 1: really not something we need to be operating on right now.
19:02
Speaker 2: However, that typically costs between X and Y, and we
19:05
Speaker 2: offer a payment.
19:06
Speaker 1: Plan so that you can put funds and escrow, and
19:11
Speaker 1: that those funds and escrow will put either pay towards
19:13
Speaker 1: future dental cleanings at a discount because you're going to
19:16
Speaker 1: use today's dollar instead of the future dollars. And then ultimately,
19:22
Speaker 1: when we do need this or if we do need
19:24
Speaker 1: this removal, it's not going to be an out of
19:27
Speaker 1: pocket expense or a large expense. And then you can
19:29
Speaker 1: show them how they can use their health savings account
19:32
Speaker 1: or a last bit of funds in their FSA account.
19:34
Speaker 1: By the way, a lot of dental offices don't realize this.
19:39
Speaker 2: A lot of medical offices don't realize this.
19:42
Speaker 1: You can offer your patient a pre pay option which
19:46
Speaker 1: would satisfy their flexible savings account and allow them to
19:50
Speaker 1: get extra money out of their savings account, put it
19:54
Speaker 1: on credit on your books, which by the way, improves
19:58
Speaker 1: your financial profile because you have a all these deposits
20:01
Speaker 1: from your customers. It ensures you get paid faster. And
20:05
Speaker 1: then ultimately delivers an outcome. Again, that's that consultation that
20:10
Speaker 1: dentists don't typically have. The patient comes in once a year,
20:13
Speaker 1: they get a ninety seven dollars or two hundred and
20:16
Speaker 1: ninety seven dollars a consultation that goes through the progressive
20:20
Speaker 1: view of the dental health It goes for new patients
20:25
Speaker 1: and pulls their records from other dentists.
20:28
Speaker 2: Which, by the way, you can transfer dental records.
20:30
Speaker 1: They'll usually have to print them out, but if they
20:33
Speaker 1: are on similar systems, there can.
20:35
Speaker 2: Be a transfer.
20:37
Speaker 1: Long story short, folks, do you see how we're thinking here?
20:41
Speaker 1: We would document this thinking. We would brainstorm it out
20:44
Speaker 1: with a client. We would map it out on a
20:46
Speaker 1: piece of paper, and then we'd say, well, what is
20:48
Speaker 1: the logical progression and this case would be to release
20:51
Speaker 1: my records to me and I can do a proof
20:54
Speaker 1: of concept. If the proof of concept is good, maybe
20:57
Speaker 1: thirty to fifty thousand dollars to build out a prototype,
21:01
Speaker 1: and then ultimately we would build either an interface that
21:03
Speaker 1: pulled data from the existing medical record system or out
21:07
Speaker 1: of the database for the medical record system, or we
21:11
Speaker 1: would pitch the add on to a platform. Because of course,
21:15
Speaker 1: if the platform has this new add on, they can
21:19
Speaker 1: then offer it to existing customer base. And so now
21:23
Speaker 1: we've taken the million dollar idea and concept for the dentists,
21:26
Speaker 1: We've created equity for them through the joint venture or
21:29
Speaker 1: the partnership, and then we've marketed which they're not going
21:32
Speaker 1: to be able to do. I would market it to
21:33
Speaker 1: the other companies. And now we've got syndicated passive income.
21:39
Speaker 1: Why is it syndicated, Well, because there's thousands and thousands
21:42
Speaker 1: of doctors using this dentech system or using whatever medical
21:45
Speaker 1: record system, and then each of those have thousands of
21:49
Speaker 1: customers that they could offer the diagnostic program. And then
21:53
Speaker 1: all of those people together can save money by having
21:57
Speaker 1: a central organization take the the mailing lists that are
22:01
Speaker 1: available and offer this diagnostic as a foot in the
22:06
Speaker 1: door for new patient acquisition and existing patient retention. And
22:12
Speaker 1: the next thing you know, you've got a thirty forty
22:13
Speaker 1: million dollar business, all from a million dollar idea that
22:18
Speaker 1: I sat down and came up with while I'm getting
22:20
Speaker 1: my teeth cleaned. Now it's built on other experiences I've had,
22:24
Speaker 1: but ultimately.
22:25
Speaker 2: That's kind of how we work.
22:27
Speaker 1: So again, there aren't always million dollar ideas there, but
22:31
Speaker 1: I've shared with you structure, I've shared with you approach,
22:35
Speaker 1: I've shared with you proof of concept, and then how
22:37
Speaker 1: to get the implementation with the joint venture. The joint
22:40
Speaker 1: ventures are great because you can also buy out partners
22:43
Speaker 1: because the dentists may like getting their regular check from
22:48
Speaker 1: the licensing fees associated with the software or the process
22:52
Speaker 1: that's been put out in the marketplace, but eventually somebody's
22:57
Speaker 1: going to come along as competition, and so they they
23:00
Speaker 1: want to get bought out early. They might want to
23:02
Speaker 1: bring in other partners. They might want to syndicate the opportunity.
23:06
Speaker 1: Maybe it's cash flow in a million or two a year,
23:08
Speaker 1: and they're going to repackage that as an investment opportunity
23:13
Speaker 1: for others because they went to some dental convention and
23:16
Speaker 1: somebody's like, Hey, I got extra cash in my practice
23:18
Speaker 1: and I like to do something with it. You want
23:21
Speaker 1: to see that whole ecosystem, but then you want to
23:24
Speaker 1: frame it out into what is appropriate right now. The
23:27
Speaker 1: very first step in this is for me to pull
23:29
Speaker 1: my own medical records and run them through some proof
23:32
Speaker 1: of concept and then build a proposal to present that
23:37
Speaker 1: to these dentists, which would be non exclusive, because if
23:41
Speaker 1: these dentists aren't interested, I need to pitch it to
23:43
Speaker 1: like one hundred more dentists, and then once they're interest,
23:46
Speaker 1: we have interest, we syndicate their investment to write the software.
23:50
Speaker 2: So the dentists are going to put out ten twenty.
23:53
Speaker 1: Thousand and fifty thousand in order to get a cash
23:55
Speaker 1: flow stream on the marketing tools. In the the actual
24:00
Speaker 1: diagnostic procedure, they're going to get credibility because they are
24:04
Speaker 1: going to be presented as the experts. I'm behind the
24:06
Speaker 1: scenes there. I don't need to be front and center
24:10
Speaker 1: because obviously.
24:11
Speaker 2: I'm not the dentist.
24:12
Speaker 1: All I'm doing is combining a few things, and then
24:16
Speaker 1: in my sales pitch, I would pull how chiropractic has
24:21
Speaker 1: a consultation, how a medical doctor has a consultation, and
24:25
Speaker 1: then the emotional strings. So you want to be documenting
24:27
Speaker 1: the emotional strings. Individuals don't want to have sunken mouth syndrome.
24:32
Speaker 1: They don't want to have missing teeth when they're older.
24:34
Speaker 1: They don't want to have expensive dental surgeries. Doctors want
24:39
Speaker 1: to be recognized as experts in their field. They want
24:41
Speaker 1: to be solving big problems for their clients. They want
24:45
Speaker 1: to have passive income because there's a point where all
24:48
Speaker 1: doctors are tired of going into every room and talking.
24:50
Speaker 2: To every patient. It's just the way it works.
24:53
Speaker 1: They want to have freedom in their practice and to
24:58
Speaker 1: grow their practice. So are we getting a consistent flow
25:02
Speaker 1: of clients? Emotionally, the doctor doesn't want to do anything
25:06
Speaker 1: that's risky, that will risk their reputation. So is this
25:10
Speaker 1: a project we can do quietly until we've proven successful,
25:15
Speaker 1: and then once it's successful, present them as larger than life,
25:19
Speaker 1: innovative in the industry and ultimately transforming the career and
25:25
Speaker 1: the outlooks for the dental profession. You see where we're
25:31
Speaker 1: going there. Now, if you've got a million dollar idea
25:34
Speaker 1: that you'd like to explore, I do offer this kind
25:38
Speaker 1: of workshopping in order to develop an approach and a
25:42
Speaker 1: plan because ultimately you do want to end up with
25:44
Speaker 1: a multi phase plan. And in my case here ideas
25:49
Speaker 1: are a dime a dozen. Without my own medical records,
25:53
Speaker 1: I can't really test or proof a concept this. If
25:57
Speaker 1: you do have a large database of records, we can
25:59
Speaker 1: work that out. And so if I was going to
26:01
Speaker 1: pursue this idea, I could go to a dental school,
26:03
Speaker 1: for example, and use textbook related imagery in order to
26:09
Speaker 1: not train a model, but to see how fast or
26:11
Speaker 1: how far the model itself can go today before you train.
26:15
Speaker 2: So that's part of the phased.
26:16
Speaker 1: Plan if you're interested in that kind of thinking, which
26:20
Speaker 1: is very often lateral and abstract. But again you have
26:24
Speaker 1: to dial it into a plan, which we would help
26:27
Speaker 1: you dial it into a plan. I am available for
26:30
Speaker 1: a few clients from time to time, depending on my
26:33
Speaker 1: excitement on the project.
26:34
Speaker 2: It has to be something that I would be interested
26:36
Speaker 2: in as well.
26:38
Speaker 1: But because I do do a lot of work associated
26:41
Speaker 1: with it, especially when we've done this in the past,
26:43
Speaker 1: we add another million, ten million, twenty million dollars to
26:46
Speaker 1: a company. Typically I'm doing eighty percent of the work
26:49
Speaker 1: till some point where we launch. But my point being
26:53
Speaker 1: is we do have consultations available. You can visit us
26:55
Speaker 1: at www dot inside Strategic relations. Go to the contact page,
27:03
Speaker 1: let me know what you're interested in. We can get
27:05
Speaker 1: your scheduled for a consultation in the sense of what
27:10
Speaker 1: I've shared with you here today. As you go back
27:13
Speaker 1: through this, you can framework the AI Assistant preventative or
27:20
Speaker 1: the AI assistant detection. You can framework that in order
27:24
Speaker 1: to get an overall concept, but don't use that idea
27:29
Speaker 1: in the sense that you probably have a million dollar
27:31
Speaker 1: idea that will be unlocked by the process. And so again,
27:36
Speaker 1: this can start with note taking, this can start with storyboard,
27:40
Speaker 1: This can start with identifying lists of the benefits. Again,
27:45
Speaker 1: we don't care about the feature so much. If the
27:47
Speaker 1: client's get in the benefit, you don't need to install
27:48
Speaker 1: the feature. And then ultimately, once you solidified that idea,
27:53
Speaker 1: if you're ready to have an objective third party take
27:56
Speaker 1: a look at it. Who's got experience in business development.
28:00
Speaker 1: And we didn't even talk about the risk associations with
28:03
Speaker 1: doing a diagnostic identifying a potential problem that may never happen,
28:08
Speaker 1: because again, the client is going to where the patient
28:13
Speaker 1: is going to be more in tuned with the importance
28:16
Speaker 1: of their dental health. So you're going to retain the
28:18
Speaker 1: client better. And because you're retaining the client and they're
28:21
Speaker 1: getting their regular services and they're actually showing up for
28:23
Speaker 1: their appointments, they may never have these issues that were
28:26
Speaker 1: predicted because you've done something about it. That's why prevention
28:30
Speaker 1: is so hard to sell. But you still make money
28:33
Speaker 1: because you didn't have to go replace that client with
28:36
Speaker 1: an even more expensive client.
28:37
Speaker 2: Anyway, I could go on for days about this.
28:39
Speaker 1: A lot of times, what we end up doing is
28:41
Speaker 1: we storyboard this out, we framework it out, we get
28:44
Speaker 1: some market tests done, we start getting cash flow. Then
28:47
Speaker 1: we get our initial round of investments, and then from
28:50
Speaker 1: that initial round of investments, we pay off quickly with
28:54
Speaker 1: the cash flow that we've amplified through syndication. I think
28:58
Speaker 1: I did a program called profit Models, and then after
29:00
Speaker 1: that we have a kit. We have a packaged kit
29:04
Speaker 1: that thousands of other people could be using in our
29:07
Speaker 1: industry that can be creating millions of dollars for other folks.
29:11
Speaker 1: And you might say, well, justin why would I want
29:13
Speaker 1: to create so much money for.
29:14
Speaker 2: Other people, isn't there?
29:15
Speaker 1: Well, again, I'm about stability, I'm about consistency, I'm about
29:19
Speaker 1: passive income. And the reason why over the last thirty
29:23
Speaker 1: years I've created more than any billion dollars in value
29:25
Speaker 1: for clients was because it's easier to justify what I'm
29:30
Speaker 1: getting paid when they're making a billion dollars.
29:35
Speaker 2: And so again it's about let's make something happen.
29:41
Speaker 1: And I've shared with you again the process in which
29:45
Speaker 1: you can take ideas and concepts which everybody's got, solidify
29:49
Speaker 1: them into a procedure or a process. Do a proof
29:55
Speaker 1: of concept, raise the funds that are necessary, implement in
29:59
Speaker 1: a few months, have cash flowback, have a return on investment,
30:03
Speaker 1: have a better, more compliant, satisfied client base. Anyway, justin
30:10
Speaker 1: hit from inside strategic relations and again you may not
30:14
Speaker 1: have this kind of thinking right now, but we can
30:16
Speaker 1: help you get there, and we can help you transform
30:19
Speaker 1: business relationships. You know you have this all hinges on
30:22
Speaker 1: them already, having a thousand plus clients, but build on
30:26
Speaker 1: business relationships and transform them into profits. Profits for the client,
30:31
Speaker 1: profits for you, profits for the team.
30:34
Speaker 2: Thanks for listening.