The EntreMD Podcast

7 Mindsets of the Ultra-Successful Entrepreneur: Part One

December 14, 2023 Dr. Una Episode 386
The EntreMD Podcast
7 Mindsets of the Ultra-Successful Entrepreneur: Part One
Show Notes Transcript Chapter Markers

Welcome to another enriching episode of the EntreMD podcast - your guide to thriving as a physician entrepreneur. What if your mindset was the only thing that stands between you and ultra-success? Embark on a transformative journey with me, Dr. Una, as we uncover the first few mindsets of the ultra-successful. We're bringing to you a two-part series of an enlightening training session that will equip you with tools for your entrepreneurial journey.

Embrace the beginner's mindset, as it is the cornerstone of continuous learning and growth. As we transition from setting up a private practice to expanding to multiple locations, this mindset will keep us grounded, adaptive, and ready for new challenges. But it's not just about learning - your dreams are equally important. Learn to build a relationship with your vision and don't let any obstacle deter you from it. Yes, there will be discomfort, but that is often the key to achieving success. 

So, gear up, take action, and adopt these mindsets to thrive in your business. And remember, the journey does not end here. Stay tuned for the next episode where we'll be unveiling the rest of the mindsets. The EntreMD Business School is always there as a resource for physicians looking to build successful businesses. Join us in this empowering journey and create a thriving business that is truly your own!

When you are ready to work with us, here are three ways.

1. EntreMD Business School Accelerator - If you are looking to make a 180 turnaround in your business in 90 days, this is the program for you.
2. EntreMD Business School Grow - This is our year-long program with a track record of producing physician entrepreneurs who are building 6, 7 and 7+ figure businesses. They do this while building their dream lives!
3. EntreMD Business School Scale - This is our high-level mastermind for physicians who have crossed the seven figure milestone and want to build their businesses to be well oiled machines that can run without them.

To get on a call with my team to determine your next best step, go here www.entremd.com/call

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Speaker 1:

Hi docs, welcome to the EntremD podcast, where it's 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 Ibnah. Well, hello. Hello, my friend, welcome back to another episode of the EntremD podcast. Thank you so much for listening, for sharing, for subscribing, for being a part of the Calvary. Now, today, you are going to be listening to part of a training I did during EntremD Live 2023, when I taught about the seven mindsets of the ultra successful. So you're going to listen to the first few on this episode and on the next episode, you'll listen to the rest of them. These are some subtle changes that you can make, and this is the best time to make them. And these mindset shifts will change the way you show up, they will change the actions you take, they will change the way you feel about your business, and there is really the foundation for all the great things you want to see in your business. So take a listen and I'll see you on the other side. Hello everybody. Okay, I am so excited. I've been waiting for this moment. Look at Dr Beckford. Yes, yeah, dr Beckford, this is what your fourth one Love it. Okay, so let me know in the chat. You guys know I love some good engagement. Okay, let me know in the chat like I am ready. Show your emojis like I am ready for this. This is like we have sat down and put together what we believe is the most transformational version of EntremD Live. We are leaving everything out there, everything. Okay. So I'm ready, I'm glad you're ready. We're going to co-create magic. That's what we're going to do today, and today we're really going to be looking at that seven figure mindset. We're going to get into that and the goal is, after this session, you're going to walk away knowing this is what I need to do to create quantum leaves in my business. And if you've been in the EntremD world for more than two seconds, we're about building your dream business and building your dream life. So, yes, this is a business conference, but you are going to walk away with what you need for your business and your life, okay, so I just want to set the stage so we show up going like we're going to crush it. Okay. Now, if this is your very first EntremD Live, let me know in the chat. I'd like to. I see, dr Bada-Charish, this is my fourth. Yes, so this is your first. Let me know in the chat. I want to shout you out. Okay, I want to shout you out. This is the first time. Dr Joyce says this is my first time. Dr Choma, dr Dewis this is my third. I'm a veteran. Dr Candace, my first. Dr Stokes Hi, this is my very first. Dr Miller, dr Jimmy, dr Margaret, dr Tolle is my third. Dr Jennifer is the first one. Ready, okay, you are in for an absolute treat. We have a PGY2 here. I wish I had your life. I wish I learned these things, but as a PGY2, I got to get older before I did that. I am so happy for you. Dr Jones is like this is my first. Yes, love it. Okay, so this is the deal. We don't do fluff here. This is not a fluffy. This is not a fluffy conference. This is not where we tell you the why and then we don't show you the how and all of those things. The reason why I'm saying that is because this is our pre-event. Tomorrow we're going to have the seven figure social media run and then Saturday, oh my goodness, saturday is like a bolus. Where doctors, we get it right, it's like a whole bolus, and so I want you to make sure that you cleared all the dates, because when the team and I get together to put this on, we're like we're going to show up like we're delivering a $10,000 event and so you don't get to pay $10,000, but I want you to come with that attitude too. I am attending this event that I paid 10 grand for and I'm going to get everything I came to get out of it. Okay, that's what we're going to be doing today. So that's the attitude I want you to approach this with. Okay, so, welcome to our fit on Tramby Life. Wow, five years Done with it. Okay, so I want to introduce myself and I want you to pay attention to this, because this is about you, this is not about me. I'm telling you this because I want us to have a picture of the transformation that we can experience. So, if we haven't met before, I'm Dr Una, I'm a pediatrician by training, founder of EntrezMD, and EntrezMD is a business, but really is a mission, right, and our mission is to help doctors build profitable businesses so they can live life and they can practice medicine on their terms. Yes, we live in a time where, yes, a lot of doctors are stuck. We live in a time where we're called one trick ponies and, of course, we can't thrive as entrepreneurs all of which are lies. But we're also in this space where maybe you're here. So maybe you're here and you run like you work your job and you want to build out your personal brand. You can build that out and you can build that out as your business and it can give you the freedom to live life and practice medicine on your terms. Doctors are doing it. You may be here, you have a private practice and you're really at this place where you're frustrated. You hear other people talking about closing their practices every day. You're like I don't think we can do this. I think this is dead. It is not dead. There are doctors who are doing it and they're using it to create freedom for themselves. Right, they're practicing medicine on their terms. They're living life on their terms. You may be here, you have a non-clinical business and you're like I didn't get a business education, I can't figure this out. This is so hard. I can't build a team. Throw it all away and I'm telling you you can thrive. The mission of EntremD is to help you, equip you, show you exactly how to do that. Our goal has been to help 100,000 doctors do that, and that's the reason why we're like, yeah, we put on a free party. Let the doctors in your world know and, by the way, we have 44 states represented here. So if doctors in like Idaho and Wyoming and North Dakota, tell them I'm waiting for them, okay, because I want to hit all 50 states. If you have friends, tell them, be the record breaker here, okay. So that's my mission, that's the mission of EntremD, and I have used my life as a lab, and so my very first business was my private practice, and in a time when they're like, you cannot survive as a private practice owner. We built a practice this is our 14th year built it to a seven figure practice and I was like I want to help doctors, I want to. This is what I want to do. And I freed myself to chase down my passion of helping doctors, right. And so I built EntremD. We built a podcast, the book, all of that, and for the last four years we have served hundreds and hundreds of doctors of close range and throughout podcast, thousands and thousands, right. And it's all about supporting you, helping you build possible businesses, and people are like well, if you build your practice, you'll be stuck to it. I, on purpose, went on an 18 month sabbatical from my practice. The practice grew in the midst of it Because, again, my practice is my lab. I call it the private practice lab and it's my lab to experiment, to say, okay, these are things that are possible. And so the life that I have created is a life where I practice on my terms. I live life on my terms. I went to home school my kids that's what I do with the older two, the younger two. I'm like I want to drive them to school. That's what I do. I'm like I want to have the freedom to live out my full potential. That's what I'm doing here, because I want to serve doctors and I'm like I'm going to create the freedom so I can do that. And I'm here to tell you today you can have your dream life. Yes, healthcare looks the way healthcare looks, but, like Winston Churchill said, we do not waste a good crisis. Okay, so this crisis is not against us, it is for us. It is forcing us to evolve, it is forcing us to become MD2.0. And so I want us to attend this event with that attitude of everything is about to change, right. I don't want us to be cynical, I don't want us to be stuck. I don't want us to decide well, this is not going to work for me, like whatever. Let's hear what Dr Una has to say. I want to approach with that curiosity and with that openness that everything is about to change. And so, if that's you and you're choosing, yep, that's the way I'm going to show up. I want to type that in the chat Everything is about to change. Everything is about to change. Be curious, everything is about to change, right. So let's see that. Go up in the chat. Love it. My future is about to change. Everything is about to change, right. Don't, we're not accepting the status quo. We're not saying that we're stuck. We're not saying we've arrived, there's more and we're going to experience all of it. Everything is about to change. That's an intention we can set. Okay, all right. So I, like Rita's, like everything's about to change. July 1st, dr Rita, is starting tonight. The change is starting tonight. That's what we're going to do here, okay. So, makita, if you can post the link for the workbook, in case some people didn't get it on tramdcom, for a slash workbook, right, if you didn't get that. But let's look at mindsets. Now. We all know that to thrive as physicians, they're mindsets we have. For instance, we have this mindset that hard work is a requirement, right, no physician is going to like confuse, like this would be walking the park, like you're, like we work hard, that's what we do as physicians. We understand that the investment precedes the transformation. That's why we have six figure loans, multiple six figure loans, before we become doctors. We understand that we have that mindset of delayed gratification, like I'm going to work hard for a while and then see the results on the other side. Right, their mindsets that we have, right as physicians. But I have spent time studying the ultra successful. Right, I have been in rooms with some of the most phenomenal entrepreneurs. Yeah, businesses at a stage where we're doing it easy million a month. I'm like Easy million a month, explain Right. Or yeah, I built this business, I'm the sole owner and we had the valuation done. It's 500 million. I'm like how's way? That's good. And I've been a student and I'm like how do they think the ultra successful entrepreneurs? How do they think? And I identified seven things. So we're going to look at those seven things today, okay, and as you think about them. I want you to audit the way you think and remember the way we think is like Play-Doh we can change it, right, it's not fixed. I just thought that way Great, because I think in a new way. No biggie, right. And so I want you to audit. Compare that with how you think at this moment as an entrepreneur and in case anybody hears, I'm not an entrepreneur, I'm the entrepreneur in the world where, like all physicians are entrepreneurs, we all have at least one business, which is our personal brand as physicians. So if you're an employed physician here, I'm happy you're here. I want you to think about your brand as your business. So don't exclude yourself from this conversation. You're in this conversation, okay, all right. So let's look at the seven things. Who's ready? I don't know, maybe you guys are tired who's ready? Who's ready for the seven things? Yeah, yeah, Okay, all right, let's do it. Number one the ultra successful have a beginner's mindset. We have a beginner's mindset, and what that means is, even though they're very accomplished, even though as entrepreneurs they've done so many things, they're still learning. They're still curious. They still know that the things they don't know are much more than the things that they do know. Right, they're still humble. And if you don't have this mindset, the problem is that you are going to get to a point and you must plateau, must Right, Because now there are many people in here who I know who are actively building businesses right, the doctors in the I'm trying to be business school. And what ends up happening is when you build your business to it, when you solve the problems and take your business to the next level, what happens is that you create new problems. Those new problems will require that you get down from your high horse or whatever accomplishment you have, and you learn. You start learning new things, right. And when you accomplish that, guess what happens? New problems. So, anywhere where you decide I'm all that, I've arrived, nobody can tell me nothing. The second you get there, that's your cap, you're done, right. So let me bring this to physicians. You're a physician, you trained for over a decade, right. Now you're a surgeon is so amazing. You have the top of your game. And then you decide I'm going to start a private practice, but not with a beginner's mindset and you walk in. I know everything. I have a great bedside manner. This is going to be amazing marketing. I'm not going to learn that. Be the team. I'm not going to learn that because I'm all that and they're going to come to me. You're going to have a very good shock because what is required at that stage is you're like I have accomplished this. This is amazing, but I need to layer on a completely new skill set. I have to learn to be an entrepreneur. I have to learn to build a team. I have to learn to market my practice. I have to learn. So, coming in with that beginner's mindset put you in a position where you can learn this whole new skill set and layer it on top of it. Right Now, you get to the top of your game. You're doing the practice is working right, you're bringing in the revenue, you're creating time and all of that. And you're going to get to a stage where maybe you want to open a second location or maybe you want to work part time or whatever is going to require a whole new level of skill right, a whole different level. And so if you don't constantly approach your life and your business with a beginner's mindset someone who is humble, somebody who is coachable, someone who can learn, somebody who is curious you will plateau. The opportunity cost of that is, you will never be ultra successful because a beginner's mindset is required. Okay, if we're tracking, let me know in the chat If you're getting it. You're like okay, okay, every time you hear somebody say, oh, I got that, oh, I don't need to learn that. Oh, that's a sign that we're about to run into some problems. Right, the ultra successful coach? I'll give you examples I had. I have a friend okay, this is somebody who is building a multi-million dollar business. She does contracts from the government for nine figures. Okay, and you will hear her listening to somebody who is talking about how they made their first million, and she's paying attention and she's taking notes and she's asking questions. And the first time I was confused. I'm like what is she doing? Like she can run circles around that person from today to next week. What is that attitude of? What can I learn from this person? What is something new they're doing that I didn't do in my time that I can add to this? What strategy is she using that might work in my industry? Curious, curious, okay. So the beginner's mindset. So as physicians right, as physicians we have a quote, unquote, potential disadvantage because we're so accomplished and so we're like I paid my dues, I did my decade. I am not learning another thing, right, like I'm done. Nobody can tell me anything, and it may not start off as pride. It's just like, yeah, we've worked that long. If you're going to continue to soar, you need to have a beginner's mindset, okay, so who is saying I'm going to adopt that, I'm going to adopt that? Yes, and I see this all the time like doctors, doctors again that you're gonna hear me talk about the business school a lot, because these I don't wanna tell you about. Random example. I don't tell you about Jeff Bezos. What does that matter to you? Right, I would tell you about real life physicians doing real life things, and they will hear me say this a lot I am so proud of you for being so coachable, because having that mindset is everything. Okay, all right. So that's number one. We're doing good so far. It's number one, all right. Number two is that they dream and they build relationships with their dreams. Okay, how many of you have had this experience where you tried something and it didn't work? Maybe, as an entrepreneur, you hired somebody and it was a bad hire. Or you put yourself out there and you did this launch and you got two clients when you wanted 22, right? Or you went to do that talk and the talk bomb, and then you decided to put your dreams away. You're like, let's just deal with reality. I mean, like all these things, I'm a physician, I don't need to do that, I just my job. My business is paying the bills. Let's just do that. These big dreams, I need to toss it to the side. Who will be honest enough to say that they've had that experience? Right, let me know in the chat, who will be honest enough to say that? Because the thing about entrepreneurship what do entrepreneurs do? They solve problems. So what will show up in your business? Problems, and if the problems make you throw away your dream, then there's nowhere to go. There's nowhere to go, right. And so one of the things that the ultra successful do yes, they have challenges, but they hold on to their dreams. They go through the challenges, but they keep the vision in front of them, right? So, and I want you to think of it this way, because sometimes we can get fooled by the pictures on Instagram or people sipping margaritas on the beach, telling you about how they work two hours twice a week and they're bringing in multi seven figures and that's the way business is working. But the truth of the matter is a lot of times you see a lot of the wins on the outside but as they were going through it, sometimes it was just standing and weathering storms, standing and going through the challenges and all of that, but keeping the pick like whatever, I'm not losing the picture and deciding to go after it. And for you that may look like I've kind of been coasting this business. I've always wanted to do a seven figure business but I shouldn't take all that. But it turns out it takes all that and maybe I'll just leave it alone. You tried some things that didn't work and you left the dream. You're like I wanna take more time off. Let me bring on a team. You brought on a team of such a headache. Or you're like I don't understand why they can't read my mind and just do what I want them to do. I actually have to train them. Don't want to, right, but it's going through all that and holding the dream and deciding I'm gonna get this done. Now. That does require that you do a few things. That could look like I have a vision board I look at every day. That could look like I've recorded back from the future thing of you did it. Right, these are the goals you had. We accomplished it. It may look like inserting yourself in rooms where people are chasing vision and they're honest with their challenges. So you're like, okay, apparently this is the way entrepreneurship works. But these are people who are the ultra successful. They have relationships with their dream. It's not something they interact with on December 31st. This is something that's always in front of them on the good days, on the bad days, on the hard days. They're holding onto that goal and they're like we're going to accomplish that. Do you guys see what I'm saying? So they have a relationship with their dreams and not just one time. They build a relationship with that. Okay, did we get that? Are we doing? You guys got that? So pick up your dreams. Maybe you toss them and it's not bad. I mean, this is entrepreneurship. But pick it up again. There's some big thing you wanted to do in your business. You threw it away. Pick it up again Dream. Pick it up again, right? For instance, you've heard me. You've heard me, I've been talking about helping 100,000 doctors for the last four years. Right, have I helped 100,000? I don't know I'm working on it, but I will have the documented evidence of it. Oh, you'll see right, it's not going anywhere. The hard days, the easy days, the difficult days, the what do you think you're doing? Days, all of that, every relationship with my goal, every relationship with my vision, okay. So you've had a dream team you've thought about build a relationship with it. You've had a thought of man, I'm gonna work this business and I'm gonna work for three days and the other two days I'm gonna spend time with my family and all that. Build a relationship with that vision. You have a number. There's nothing wrong with numbers. Welcome to EntryMD. We want to serve and earn. Okay, we lead with service, but we're not fooled, we earn. We do not create parasitic relationships where only one side is winning. We create symbiotic relationships. I'm winning, my clients are winning, everybody's winning, yay, okay. So it may be a number. You're like I wanna build a seven feet, like what would that be? Like? I'm gonna do that, right, hold onto your dream, build relationships with your dream. That's what the ultra successful do, okay, so that's number two. That's number two, okay. Especially and this is not primarily for the good days, this is for the bad days. This is for the days when there are challenges. This is for the day when you get that one star review and you wanna throw your whole practice away. Right, you're like I can't take it anymore. I suck. Why do you suck? I got a one star review, but the person was mad because you say you have to pay your co-pay. What are you gonna do, right? Okay, so that's number two. Number three the ultra successful have this mindset of living in discomfort. They live in it. They understand that the place of discomfort is where the magic happens. The place of discomfort is where the transformation happens. The place of discomfort is where we bump into the highest version of ourselves. The place of discomfort is a place where we create the vision that we've dreamt of. They understand that, okay. Now for me, on the other hand, when I started out as an entrepreneur, I was looking for comfort everywhere. Oh, I'm not gonna do that because it's uncomfortable. I'm not gonna do that because I've never done that before. I'm not gonna do that because, of course, I'm an introvert. We don't do things like that. But the ultra successful live there. Okay, we were not comfortable going through medical school. We were not comfortable when they say present your first patient, we were not comfortable. When they like, do your first spinal tap, who cared? Nobody. We embraced the discomfort, right, because we wanted to become doctors. Right, and so, and it's with everything. Look in life, all the quantum lives you've made have required discomfort, okay. So if you come into entrepreneurship and the mindset is, I'm looking for the path of least resistance, I'm looking for where I can do everything comfortably, I can do things I'm comfortable with. It can't be hard, it can be really hard, okay, all right. So they live in discomfort. For instance, I'll give you some uncomfortable things, okay, and if this resonates with you, just type ouch in the chat and it's okay, it's good, ouchy, it's like a vaccine, good, ouchy, okay. So discomfort. For instance, asking right, ask the client to work with you, ask the patient to come join your practice, ask somebody to come join you on staff, ask somebody to refer to you, and it's oh no, dr Una, you were, I liked you when you were talking about the beginners. My, I said now you're just meddling. That's what you're doing, dr Una. You're meddling, right, but that is uncomfortable. But the return on investment of business is all about asking. I'm gonna talk about this when we talk about the seven-figure sales system. It's all about asking If you can live in the discomfort of it, you'll create magic, right? So, for instance, dr Bedford just told me about this evening because they had their success groups in the alternative business school. We were doing a challenge, that's the Askathon challenge. Ask, that's your job, ask right. And so I just, oh, I did the challenge and I made this one ask right. And the person was like oh, yes, and paid for her package in full from one ask. There are people who have asked and got team members. There are people who have asked and got referral sources that blew their mind, got speaking gigs, got TED talks, got all kinds of things from something as simple but uncomfortable as asking right. So the discomfort. But the ultra successful understand they sit in the discomfort. Right Time to learn new skills, right. Oh, it's time to do a video. Oh, I don't do that. Now you do right, I don't do that right. But we know that if you're gonna show up as a content creator, video is one of the things that grows your know and trust factor like few other things can, right. And so, rather than say I don't do that, they say how can I learn that. Let's practice, let's practice that. How can I learn that? Type it in the chat? How can I learn that? So much better than the statement? I can't do that. How can I learn that? How can I learn that? How can I do that? How can I learn that? Right, that's what the ultra successful, that's you and I, that's what we do now. Right, that's what we do the ultra successful, like still under the discomfort, they understand the dream costs what it costs. So do I want the dream? Yes, so what does it cost? I'll pay. That's it. What does it cost? I'll pay. What does it cost I'll pay? They sit in the discomfort of that. They sit in the discomfort of radical responsibility. Okay, when you? I've worked with enough entrepreneurs physician entrepreneurs that a lot of times I can predict, right, I can predict when you see somebody who is whining and complaining and blaming, the reason why this didn't work is because this person didn't give me that. The reason why this is not working is the economy. The reason why this is not working is because that person didn't help me. The reason that you found somebody who is not taking responsibility. Right, radical responsibility is okay, this is happening. How can I fix it? This is happening. How can I? This is not working. How can I make it work? Whose help do I need? Who can I reach out to? Person number one says no, they go to person number two. Person number two says no, they go to person number three. What do I need to learn? What do I need to do? Radical responsibility. I have had people come into the arm-trimmed business school and they're like Dr Oona, I will be your best student. Like, don't worry about it, I'm gonna get the results. I'm gonna get a return on my investment in the first 90 days. That person has told you I believe in radical responsibility. I have taken radical responsibility. It's uncomfortable, right, because everything is not your fault, but they take it. They live in the discomfort of it. Okay, are you guys tracking? Are we doing good? Right, I've decided I have a beginner's mindset. I build relationship in my dream. I'm not letting it go and I'm gonna settle in discomfort. I'm just gonna sit there. I'm just gonna sit there. I'm gonna sit there and I'll tell you what will happen. This happened to me in 2020. 2020, so at this point, I had been an entrepreneur for about 10 years, and in 2020, I was taking a walk and I was thinking I was like, wow, this is strange, I'm comfortable everywhere. That's weird. I need to find a new project that will make me uncomfortable. And so you don't know me that I had become comfortable being uncomfortable. So it's a muscle. If you practice it long enough, like the ultra successful, you just be comfortable there, like it's uncomfortable, but you're like, yeah, apparently this is what the ultra successful do. Okay, so that's number three. Well now, how was that Amazing? Right? So this is the deal. Go, take action on what you just learned. Go start adopting these mindset shifts, and don't forget to listen to the next episode where we'll talk of the rest of the mindset. So you have all seven of them, the seven mindsets of the ultra successful. If you enjoy listening to the Entremdee podcast, you have to check out the Entremdee Business School. It's the number one business school for physicians who want to build six, seven and multiple seven figure businesses. You get the coaching, the accountability and the community. You need to do the work so you can thrive To find out if this is your best. Next step book a call with my team Entremdeecom forward slash call. That's Entremdeecom forward slash call. I can't wait to celebrate all the wins we can create together.

Mindset Shifts for Physician Entrepreneurship
Beginner's Mindset and Dreaming Big
Building Relationships Through Dreams and Discomfort
Mindset Shifts for Ultra Success