Problem Solving Profit Boosters - Pharmacy Badass University

Problem Solving Profit Boosters

Downloadable Resources & Canva Links:
Cash-Based Problem Solving Products Monthly Mastermind April 2023 – Presentation
AMS-Rapid-Success-Guide
Nitric Oxide and Neuropathy – Canva Template
Nitric Oxide and Neuropathy – PDF
Nitric Oxide Button – Canva Template
Problem Solving Profit Booster – Reference File
Therapy & Supplement Tracker – Excel File
Weight Loss Upsolution Idea Worksheet – Canva Template
Diabetic Upsolution Idea Worksheet – Canva Template
Hair Loss Upsolution Idea Worksheet – Canva Template
Energy Levels As We Age – Canva Template

Lisa Faast discussed problem-solving and profit-boosting strategies for pharmacies, emphasizing upselling and cross-selling. She highlighted three main areas: diabetics, hair loss, and weight loss. For diabetics, she recommended magnesium, B vitamins, and red light therapy. For hair loss, she endorsed the Revian red light therapy cap and Nudora probiotic. For weight loss, she promoted nitric oxide and educational resources. Lisa stressed the importance of reducing costs, increasing sales to current customers, and acquiring new ones. She also encouraged creating memberships and packages to foster recurring revenue and training staff to make recommendations in every transaction.

Action Items

[ ] Implement mandatory rule requiring staff to offer additional product recommendations to every customer.
[ ] Email Patrick at narapacom.com to learn about red light therapy shoe programs for diabetic patients.
[ ] Contact Blake at Ananda Professional about diabetic cooling lotion and sock systems, mentioning diversify RX membership.
[ ] Visit revian.com/pharmacy to explore red light therapy cap programs and sign up for pharmacy account.
[ ] Contact Hooten at Nudora (phone number provided) or hooten@nudora.com mentioning diversify RX team for probiotic program details.
[ ] Submit custom marketing requests through the Contact Us button in the membership portal.
[ ] Schedule calls with Mike and Lisa Baker for personalized consultation on implementing upselling strategies.
[ ] Contact approved medical solutions using code “diversify RX” to set up nitric oxide supplement ordering account.

Outline

Problem Solving and Profit Boosters Introduction

Lisa Faast welcomes attendees and introduces the topic of problem solving and profit boosters.
She shares her initial introduction to the topic from her business coach, Patty Mara.
Lisa explains the concept of “upselling” or “up solutions” and its importance in cross-selling related products.
She shares a story about meeting with a local doctor to discuss upsells for his weight loss program, including free teeth whitening.

Revenue and Cost Control for Profit Growth

Lisa emphasizes the importance of controlling revenues and costs to grow profits.
She explains that increasing revenue can be achieved by getting more from current customers or acquiring new ones.
Reducing costs is identified as the easiest lever to pull, followed by getting more from current customers, and then acquiring new customers.
Lisa recommends starting with reducing costs and offers a course on reducing expenses.

Focusing on Current Customers

Lisa discusses the importance of focusing on current customers to increase revenue.
She highlights the value of past purchases and making connections to offer related products.
Lisa stresses the importance of solving patients’ problems completely and the benefits of recurring revenue.
She shares her rule for employees to make a recommendation in every transaction.

Diabetic AB Solution Ideas

Lisa introduces the concept of diabetic AB solution ideas, focusing on supplements, red light therapy, and educational resources.
She lists various supplements like magnesium, B vitamins, and chromium that are beneficial for diabetics.
Lisa suggests offering pre-recorded educational videos and regular educational emails to diabetic patients.
She recommends creating private Facebook groups for diabetic patients to build stronger relationships and provide valuable information.

Nitric Oxide and Red Light Therapy for Diabetics

Lisa highly recommends nitric oxide for diabetics, explaining its benefits in improving blood flow and metabolism.
She shares her preferred brand, Approved Medical Solutions, and its benefits, including being oxalate-free and lower cost.
Lisa discusses the use of red light therapy, specifically the Narapacom red light shoe, for increasing blood flow and circulation.
She shares a success story of her brother using the Narapacom cap for hair loss and its positive results.

Hair Loss Solutions

Lisa discusses the potential for independent pharmacies to capitalize on the hair loss market, which is currently dominated by online companies.
She lists various supplements, red light therapy caps, and other solutions for hair loss.
Lisa shares her experience with the Revian red light therapy cap and its benefits in increasing blood flow to hair follicles.
She highlights the flexibility of Revian’s programs for pharmacies, including affiliate options and consignment inventory.

Weight Loss Solutions

Lisa introduces various weight loss solutions, including supplements, services like the Skype machine, and educational resources.
She emphasizes the importance of tracking weight loss progress and offering private Facebook groups for weight loss patients.
Lisa discusses the use of nitric oxide and Nudora probiotic for weight loss, sharing her success with Nudora in her pharmacy.
She encourages pharmacies to explore additional solutions for weight loss patients and to educate and offer products to solve their problems.

Implementing Upselling Strategies

Lisa provides practical tips for implementing upselling strategies in pharmacies, including training staff and creating a habit of asking for additional sales.
She emphasizes the importance of making recommendations in every transaction and the benefits of recurring revenue.
Lisa shares her rule for employees to make a recommendation in every transaction, regardless of the product.
She encourages pharmacies to think about additional solutions for their patients and to offer them as opportunities to solve their problems.

Conclusion and Q&A

Lisa concludes the meeting by encouraging attendees to reach out with any questions or comments.
She highlights the resources available to members, including access to coaches and custom marketing requests.
Lisa reiterates the importance of solving patients’ problems and offering additional solutions to increase revenue.
She thanks the attendees and encourages them to reach out for further support and assistance.