3 questions every entrepreneur must ask in the time of chaos

Welcome back to the EntreMD Podcast.

Today, I talk about three questions you must ask in the midst of chaos.

In your life and business, you will experience cycles of chaos - an unexpected illness, the loss of a loved one, failed project or even a pandemic. 

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Transcript

speaker 0:   0:00
Hi, dogs. Welcome to the entree Envy Podcast, where it is all about helping amazing physicians. Just like you embrace entrepreneurship so you can have the freedom to live life and practice medicine on your terms. I'm your host, Dr Una. Well, welcome back docks to another amazing episode of the entree MD podcast. I trust you've been having an amazing day. And I'm just going to say that if you didn't listen to the last two episodes of the on trendy podcast you do want to do that. We looked at your biggest weapon in the mist of chaos. One of my favorite episodes and how to stay calm in the mist of chaos. And I want you calm. I want you focus. I want you in control. I want you not involved in the hysteria and the panic and the anxiety and the worry and the frustration of the overwhelm. I want you to skip all that. Okay, so if you haven't listened to it right after this one, you wanna, you know, paddle back a few episodes and listen to those. And today we're gonna do something that is Super Super Fund. And, um, you know, I'm glad he gets to be a part of it, all right. So I spoke to two doctors yesterday coaching clients and I'm really happy that I got what I wanted, which was helping them to be calm in the midst of chaos, helping them to be strategic in the midst of chaos and to get their hopes up again. Because now they have their eyes on the price. And one of the docks literally said, My blood pressure is now normal because I spoke to you. I thought it was really funny, but he was really, really stressed out about all the things that were going on, all the drastic changes that were taking place because we are right in the middle of chaos and, you know, like I said, any other episodes, it doesn't really matter if you listen to this later, you're like, Well, there's no pandemic. But you know there's either pandemic or there's a recession or there's some illness or there's something and you need to be ableto handle those. The question is not. Whether people face tough times is what you do when those tough times show up because we're all going toe, face them Okay, So you have to be calm. And if you're like, has to be calm, you've lost your mind. If you think I could be calm in the midst of this, then go back to the other episodes. Okay? All right. So today I want to help. And I want us to look at three questions you should be asking in the time of chaos. Okay, Three questions you should be asking now. You know, my thought is you should be calm. My thought is you should be focused. My thought is people should look at you and go like, why are you not worried? Why are you not frantic? They should be asking you that. They should see that you're totally level headed because you're in plan mode. You're a strategic volunteering control. OK, so we're gonna look at those three questions, and I'm going to start off by saying there's no right or wrong. This is not a medical test and is going to be messy is gonna be weird and gonna wonder what you're doing. But this is just something. I want you to engage him. I mean, you will find out you have an endless stream of beautiful, wonderful, profitable ideas. If you'll become someone who thinks this way, Okay, so just engage. Don't worry about it. All right? All right. So three questions. The first question is in the mist of this chaos. And, you know, for this one, I think I'm specifically going to use the pandemic we're facing. So if you're listening to this months later or years later, we are currently in the midst of a pandemic and is the cove it 19 and we've had over 100,000 people impacted thousands of debts. And there's been, I mean, like New York is on lock down. If this is years later, you probably can't even imagine it. But it's home locked down. And, you know, in my state, I'm based in Georgia. We have You can't have any meetings with more than 10 people in it to, you know, limit exposure and churches air closed and schools are closed. Everybody's become a homeschooling parent by default. So is just a lot of stuff. Lots of people working from home, I believe Amazon people working from home, same as Facebook and maybe Microsoft. And, you know, everybody's like you just work from home. So it is very, very drastic changes that have happened. And, um, in the mist of this, we're supposed to be calm and calculated in strategic and plan for the other side, and that's what we're doing. And we're gonna look at those three questions, but I want you to kind of look at it in that context. OK, So the first question is, what are the new problems that have emerged? Okay, what are the new problems now with my coaching clients? We actually gathered everybody together. This was almost Yeah, this was a week ago. And I'm like, OK, guys, yes. There's all this chaos. There's all this stuff, but we're gonna set, and we're gonna work on these things. Okay? So the first thing was, what are the new problems that have emerged? And if you think about it, they're tons of problems. So one is You know, people don't want to go to doctor's offices. So doctors offices are like, Oh, my gosh. I used to see 25 patients that I'm seeing five. I don't know how long I can sustain this, right. Some of literally shut their doors so people are money more virtual visits. They don't wanna go into the to the hospitals because they don't wanna get exposed. Now you have kids at home, so parents are overwhelmed, like, you know, all of a sudden, now you have to teach these four kids, you know, and then But they have to goto work, though. So who's gonna watch the kids? So that creates the whole of the thing. And they have all these people who are working from home and, ah, lot of the people like, Oh, my gosh, we don't know how toe help with their productivity cause they're productivity's dropped because they're working from home and the kids, their home and, you know, they don't have anybody directly monitoring them. So we don't know what to do with, um, and the health care system has been overburdened. So the things that we used to take for granted, you know, there's always a mask and they're always gowns, and they're always says that they're not there anymore. I mean, there's some places where they're needing to use one mask all day because, you know, you can only have one mask per day, and so then there's a lot of misinformation right. The right information is just flat out, not there. And that's creating all kinds of other problems. So and I could go on and on and on and on. They just problems everywhere. People are losing their jobs because the business, you know, all I mean, the restaurants were closed, so everybody's been technically temporarily laid off. So there's a lot of problems there, lots of problems. So you need to be thinking. I remember we did the calm part in the focus parts. So this is not for us to become hysterical and go like, Oh my God, the world is ending. And all the stuff No, this is to look, you know, objectively, What are the problems that are out there? One of the problems that have now emerged, whether new problems we're facing and you can list them out with my coaching clients. I made him come up with 30 and they had a little bit of a brain cramp, but they were they were OK now of these problems. Now you have to flip it and look at them as opportunities now, not being an opportunist, that is different. Okay, but a SWAT analysis is a real thing. You look at your strengths, your weaknesses, your opportunities in your threats. So we've looked at the problems, and now it's time to look at the solution. Which of them can you solve? Which of them is an opportunity for you? Okay, so we're not talking about being an opportunist like by and all that toilet paper from all the Walmarts in 100 mile radius and then jacking up the price? No, that's what we're talking about. But we're talking about your opportunity. Okay, So which one of those problems can you solve? Okay, it's time to take a critical look at which one you're uniquely position to solve. All right, so you could identify those ones, which should be pretty easy. And please don't let imposter syndrome or self doubt or any of those go like, Well, this is something I could solve if I was that person. Okay, this is your opportunity. Which one can you solve? So the third question becomes now that I know what new problems have come up on, what problem I can solve house, I pivot. How do I start a business or change my business to meet these needs. Now when I say change, I'm not talking about a drastic change. Like I'm gonna throw this whole thing away, and I'm going to start a brand new thing. I'm talking about a pivot. Okay, Is which is, like, you know, swirly on yourself. I'm talking about a pivot, so I'm gonna give you a few examples. Think Netflix. Okay? Netflix didn't start because, you know, the guy just sat down and he thought is like, What business am I gonna create? It is started because he did number one and two. He said, What problem is here? And the problem is late fees like I'm going to blockbuster to go turn my movie and it's inconvenient. I have to speed, like, almost get a ticket, you know, get it off from work to go return this movie. And I didn't return in time and then have late fees and have all these other fees. This is just ridiculous. What if we could do it differently? What if we could mail it? Because that's the way Netflix started in the beginning was Maali. And then after that, they went to an online platform. So why did that business start because he asked himself two questions. What are the new problems that have emerged? How can I solve it? And that he created a business, Solve it. And now Netflix is a $1,000,000,000 company. You know, doing this thing. It's a new service. Now the granddaddy of pivoting is Amazon, and I think Amazon. They just ask themselves this question all day, every day. What are the new problems that have emerged and how can I solve them? So, for instance, people like, Oh, you know who wants to wait five days for shipping and all this stuff? You know, I don't want to wait. I want it now. And they came up with Amazon Prime right? And they could get your stuff to you next day. And then people are like, You know, I don't really want to go to the store, But the reason why I go to the store to get my clothes is because then I could try it on. If it doesn't fit, I can return it and all this stuff. And Amazon is like, fine, we've got you. And they pivoted and started a new service called Amazon Wardrobe, where you can literally get an outfit. Try it on. Keep it for a few days. If you like, You keep it. If you don't like it, return it. So basically, they turn your house into dressing room, and that's how they pivot it. And then, you know the people who did prime Amazon prime there, like ho. My gosh, I wish I could just get this today. And they created Amazon now so you could order something. Could get into hours and they just pivot and pivot and pivot on pivot all day, every day. So how are you going to pivot? All right, so maybe you own a practice and you've been shuffling your feet on telemedicine. You know, you should You probably did a few visits, and you're like, Yeah, forget it. Now is your time. Because we have a new problem. People don't want to go out. Or like in the case of New York, they can't go out Well, they can go out for medical stuff, but they don't want to go out. And now you can say, How do I pivot? So I set up I launched a telemedicine practice within my practice, right? People don't want it to be exposed. I launched a telemedicine practice within my practice. Your psychiatrist, The stress level is at an all time high, and your voice needs to be out there. You need to be catering to that because that's a huge opportunity. That's a new problem. Remember, not opportunist on entrepreneur is somebody who helps people and as a consequence, makes money. Okay, so at the core of all these things you'll see, it's how do I help? That's your opportunity. You just need to know how to monetize that. Okay, So how do I pivot? What I need to dio your in real estate or your real estate coach? And you know that you know, deals, air. There gonna be some released sweet deals coming up, you know, soon. And how do you prepare people for that? That's your opportunity right there. If you're a media consultant, the media is looking for people. They're looking for direction, especially from the medical community. Make yourself available. Get that. Don position yourself where At the end of this whole thing, you'll be an expert because you've been on so many places and you're the go to person, you know? So just pivot. Okay, Pivots. So three questions. What are the new problems that have emerged? Which of them can I solve? How do I pivot? And like I said, there's no right or wrong answers. Just take out printer paper and just sit and just write and write and write and do a brain dump and ask people, you know, you could do mind storming where it's just you thinking into brainstorming where you know you got some others. You guys are thinking about it. Don't criticize the answers. Just get a ton of answers and start working from there. So do the exercise. You'll be messy. It will be tasking. Your brain will go like I don't want it. Focus on quantity. Put a lot of answers out there and your best answers will come the longer you think. OK, now, before I let you go, I'm going to share a concept that I think is huge, and I don't even know what the real name is for it. But what I call it is staring. And what that is is, for instance, thestreet questions. I can answer him, maybe throw out 5 10 15 answers for each of the questions, and then I just stop and I'm staring and marinating on and thinking deeper on it and focusing on it have a huge dry erase board in my bathroom, like, huge, like if you saw you be like doctor who know what is wrong with you huge. And you know, I would just write it there and sometimes I'll just sit And I'm just looking at it and staring because the longer you look, the better ideas you get. I mean, it's so amazing. So you should do it. But keep thinking so rather than scroll the aimless feel social media, keep thinking What is the new problems of all these problems? Which problems can I help people with? How do I need to pivot my business so I can be the answer so I could be the solution? OK, All right. So here we are. I hope you're like, yes, let's do it. And you're leaving this place positive and encouraged and inspired. And on fire and register be a part of the solution rather than be so worried about the problem. OK, so I want you to be a Hope Ambassador. That's what we've been doing for the last few episodes, and I want you to share this podcast. Look, I want you to share this episode. There's a lot of fear. There's a lot of anxiety. There's a lot of hopelessness out there, but we're not hopeless, okay? We're not hopeless. We're gonna get through this. All right? So I want you to share the word it will help somebody else. And if you haven't already, I want you to sign up to be an on trendy insider. You get weekly emails for me where I'll keep you inspired. I keep you motivated. Keep you empowered to be a great entrepreneur. And I'm throwing this out because of the times that we live in. If you need coaching, whether it's one on one coaching a group, coaching I want you to reach out is doctor una d r u n a doctor una At On trendy dot com, you don't have to be alone. We live in were times we live in interesting times. We lived in chaotic times, but it is also a time of unprecedented opportunity. I want you to be in a position to take advantage of that. So thank you for listening. that stay connected. And we are going to come out on top at the end of all this, and I will see you on our next episode. If you love this podcast, please take a moment to subscribe, share and review it on iTunes as you go about your week. Remember, you're not just a Nembe urine on Trey. Andy. Don't forget to tune in next week for another great episode until next time.