The EntreMD Podcast

5 Proven Strategies to Make This Your Most Profitable Year Yet

• Dr. Una • Episode 440

Share episode

Send us a text

👉 Ready for the next step? Book a call: https://program.www.entremd.com/call 

Have you ever looked at successful physician entrepreneurs and wondered what their secret is?

Well, today’s your lucky day because I’m about to share those secrets with you!

In this episode of EntreMD, I break down 5 proven strategies used by the most successful physician entrepreneurs to build thriving businesses, hit their biggest revenue years, and create more freedom in their lives.

Ready to make this your most profitable year yet?

Tune in now!

—

Key Takeaways: 

  • 00:00 Intro 
  • 00:43 Real success stories of physician entrepreneurs 
  • 05:13 Powerful mindset shifts 
  • 07:53 Putting in the reps
  • 09:48 Doing the boring work 
  • 11:54 How to deal with obstacles
  • 16:57 Community is everything
  • 20:55 My final thoughts and outro 

Additional Resources:


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

  • 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.
  • 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!
  • 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 ...

Speaker 1:

If you're anything like me, you are constantly trying to figure out what is the secret of successful people. When you meet them, you're like what is the one thing, what is the thing you did that made this possible, right? Well, today I'm going to share with you five secrets from some really successful entrepreneurs. And when you think about it, it's so mind boggling Hi docs. Welcome to the EntreMD podcast, where it's so mind-boggling 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 Imna. Here's the deal. I was listening because I wanted to figure out what is it that made them successful? What is it that helped them create these wins? And I didn't have to ask them. They were so generous, they just got to spit it all out before I got to ask, and I'm going to share those things with you. It was so wild because there were five people who shared their wins and they shared all of the same secrets. We had a running theme, okay, so let me give you a little bit of a feel for how this played out. So the first it's no particular order, and I'm not mentioning all of the wins, but I'll just tell you three of them. And so one of the doctors came on and this is somebody who's been in private practice for seven years. Okay, one, two, three, four, five, six, seven. And she said I just had my biggest revenue month since the beginning of my private practice. Okay, so, which, of course, makes me go like I want to know how that happened. So she said you know, we've had our biggest revenue month since starting our private practice, a private practice that's been around for seven years. And she said and the interesting thing is, I worked less, I saw less patients, I traveled a lot, and yet this happened. Okay, and this is something that you want, I want, we want the time freedom, we want to be able to create results through our team and all of those things. So she said that we celebrated, we went crazy. We're like, oh, my goodness, this is amazing.

Speaker 1:

Next doctor gets up again in no order, but another doctor and this is a doctor. I'm actually going to give her a big shout out. Her name is Dr Kim Traquanda and you want to go follow her? Okay, so she is someone who has taken on a global challenge. She's like there's healthcare inequality. Her alliance is all about healthcare equity, right, and so there are countries where you have a ton of physicians and there are countries where there are really no physicians, and what she's trying to do is, through technology and all of that telemedicine, we're able to set it up where people have access to US-based physicians in their countries, providing all kinds of great services for a few hours a month, right, and she's like and we can have so many hours, we can solve so many problems on a global scale. I am so proud of her, I'm so amazed at the size of her vision and she is pulling it off, okay, so she has a podcast. Check it out. Follow her on social media, support her work, okay, and she's talking about.

Speaker 1:

You know, she was at an event and all of that stuff and she ended up walking away with 60 to somewhere between 60 and 70 new physician volunteers, which, for her model, you can appreciate how huge that is. You can appreciate, like, oh my goodness, like, think about it. If they were all to give her an extra hour a month, that is 70 additional hours for them to provide care across the world. If they gave two hours, that would be 140 hours If they gave three hours, that would be. You see what I mean. It's massive, right. And so we're cheering her on and all of that stuff. And she spilled the beans. This is how these things are happening in my business. Of course, she had other wins and again, follow the theme, and another doctor comes on. And this was so great. She joined the EntreeD Business School right after EntreMD Live, right, so literally, we're talking 90 days. Okay. So she joined it during EntreMD Live of 2024. And she says my husband told me to come share this win with you guys. And so she has a private practice it's a direct specialty care practice and she reported that her revenue had grown compared to the second quarter of the year. In the third quarter of the year had grown by 122%. 122% in 90 days. Okay, so wild.

Speaker 1:

And she went on to talk about the things that she had done differently, how she had shown up differently and all of that. And again, it was a very interesting evening. It was one of those evenings where I was like I don't know, even if I didn't teach, you guys have gotten so much out of this, like we can literally just be done with a call right now, right, we didn't do that. We went on to do something very fascinating, but this was so. This was that amazing.

Speaker 1:

As I listened to them, I was like, okay, like I see what the results you've created, and it's almost like this is an alternate reality, right, because on the other side you would hear things of you know, I have to shut down my practice, it's not working and everything sucks and all that stuff. And I'm not saying like every single one of these people. They also have challenges, right, but they're winning. Okay. So I figured I will come share the theme with you so you can adopt this and start doing it in your own business, starting today, because these are things that have worked for me, these are things that have worked for so many students in the EntreMD Business School. These are things that can work for you, okay.

Speaker 1:

So the first thing and I found it very fascinating that the first thing they all talked about was the shift in their mindsets, right, the shift in their mindsets that they had to do that created the change. And I do a lot of strategy. I have a very solid work ethic. So strategy, tactics, all of these things, I got that, and so in the early phases as an entrepreneur, I actually used to see mindset work as something that was for people who are soft or people who didn't know what they were doing or, you know, like people who were just too emotional.

Speaker 1:

But then I came to realize that your mindset is really like if you think about a Ferrari, right. So you think about a 2025 Ferrari that can go zero to 60 in three seconds or whatever right, that's amazing. But if the tires are flat, it doesn't matter how many horsepower it has, it doesn't matter at what speed it can go to zero to 60. None of that matters, because the flat tires are going to ground the car. And, in the same way, an undisciplined mind and mindset that is not optimized is like flat tires, like you're not going anywhere. It doesn't matter how great the strategy is, you're not going anywhere. It doesn't matter how great the strategy is, you're not going anywhere. And I found like, even though I can give people all the frameworks, I can give you the blueprint, the algorithms, I can show you what to do, I can map it out, I can create your calendar, I can show you all the things, if we don't get that mindset stuff right, it's not going to work.

Speaker 1:

And so in the Entrepreneur Business School we do quite a bit of work on the mindset because it's going to show up. When you have to hire a kind of role you've never hired, it will show up. When you set a goal to hit a revenue goal you've never done, it will set up. But when you decide to upgrade the kind of clients or patients that you work with, the mindset drama will show up again. If you raise your prices, the mindset drama will show up again. It's there, and the more work you do on your mind, the more you're able to adapt, evolve and then just become the person who does that right. It's the same thing when challenges show up. When challenges show up, your mindset will be the difference between sulking for five minutes and getting together and rolling with the punches, versus being out of it for two or three months or a year or forever right. And so they all talked about the mindset work and we have a framework that we use in the Entrepreneur Business School. We call it RBI. It's Reinvention by Imagination. And they all talked about how they leveraged that framework and how that framework was dramatically changing the way they thought. So it helped them show up better. It helped them ask bigger, it helped them lead better and all of that. It was amazing. But every single one of them talked about the mindset Okay. So that was the first thing. And now the second thing they talked about again is something we talk about in the school a lot, and that is putting in the reps Now, putting in the reps doing the repetition right reps, putting in the reps of the right work right.

Speaker 1:

And so, for instance, for somebody who is going to build, let's say, you're a coach and you're going to build this dominant, visible brand, then one of the things you are going to do is you're going to show up on people's platforms, whether that is being a guest podcaster, speaking on somebody else's stage, talking to referral sources, all that. That's just something you're going to do and you're going to put in the reps. You're going to do it over and over and over and over and over again. In the beginning it will look like it's not working as well, but if you'll be consistent, you'll find out that it was always working. If you're somebody in private practice and you want to build this practice, that is, you know you have a full panel and if you bring on new docs, you're able to fill their panel, all of this stuff.

Speaker 1:

One of the things you're going to have to work on is your referral base right, the people who send you patients and all of that. And people tell me oh well, the front desk person didn't let me get through, blah, blah, blah, blah, blah. But this is the thing you're going to go right, or your panel, what you need it to be, and on and on. There's so many things that ordinarily maybe you run away from. These are high-level tasks and you're going to put in the reps and it's going to look like it's not working at times, but it's always working. And then challenges are going to show up, but you're going to keep putting in the reps and you're going to keep putting in the reps. They all reference the reps, they all reference the reps.

Speaker 1:

They all talked about doing the work Like the school is great, you will get the guidance, you will get the community, but at the end of the day, you got to do the work and you got to keep doing the work and you got to put your head down and do the work Right. And so, first, we're going to work the mindset. Second, oh my goodness, we're going to do the reps, right, okay, so, as you can see, these are things that you can do. The third thing that was a theme and one of the doctors said is you got to do the work, and sometimes it's boring work. I could have hugged her. I could have flown through Zoom to get into her house and hug her, because there is this illusion or delusion, or you know that is on social media that being an entrepreneur is so exciting and you're just excited all the time and you're doing innovative things and creative things all the time, which is true, like I love being an entrepreneur and I love that I can innovate within my business and I love I can be so creative with what I do.

Speaker 1:

I mean, I am a creative. You know I'm prolific on social media. I have podcasts plural. I have YouTube channels plural. I mean the EntreMD Business School started one way four years ago and I've innovated and innovated and innovated. It's a very different product that we have now, which is so much better. It helps people get results bigger, faster and all of that stuff.

Speaker 1:

However, there's a lot of stuff that's boring. There's a lot of stuff that, even in the creative process, if you are going to stay true to your message, for instance, you're going to say the same thing over and over and over and, over and over again. You may use a different story, you may use a different tagline, you may use a different title, but you're going to say the same thing over and over and over. If you're going to train a team, you're going to train them over and over and over. If you're going to lead vision casting meetings, you are going to share your vision with your team, with your community, with your audience, over and over and over and over. If you're putting in the reps, you're going to put in the reps, and sometimes the same rep over and over.

Speaker 1:

So it does get boring, and boring is okay and you have to be okay doing the boring. Don't stop because it's boring and look for a shiny thing, because, guess what, you say yes to the shiny thing, give it another 30 days and guess what's gonna happen. It's gonna be boring, right, okay? So that's the third thing doing the boring work. Doing the boring work and they said it over and over, like this was a thing that I noticed, okay, so that's the third thing. The fourth thing, which was a really powerful thing, is you know, one of the docs said and which was true in the case of all all of these doctors who share their stories is don't be thrown off by the obstacles, pivot and keep moving.

Speaker 1:

Okay, so sometimes, when obstacles show up in our businesses, we think that we did something wrong or we're not good entrepreneurs, or the things that we don't know, and all of that. And the truth of the matter is that's not the case at all. There will always be obstacles, right, there will always be obstacles that will show up in your business. That's just the nature of the world. That's like saying there's gravity in the world. There is gravity, right, there's no way to avoid them. So the thing is, how do I choose to respond to them? Am I going to fall apart? Am I going to see this as an opportunity to get better? Am I going to sit and whine and complain and wish that the obstacle wasn't there? Or am I going to respond to it and still be committed to my vision and my goals and figure out how to make it happen? Right, like, what am I going to do? Okay, so not falling apart in the face of obstacles is a huge, huge, huge thing, because there will always be obstacles. And think about it.

Speaker 1:

For instance, I started my private practice in 2008. And in 2008,. We all know that was the year like almost the beginning of a recession. Right, I started it there. So you start a private practice. There's obstacle right there. What are you going to do, right? In 2020, there was a pandemic, a whole big obstacle. What are you going to do? Right? In 2020, there was a pandemic, a whole big obstacle. What are you going to do? With the pandemic came the great resignation and in a place where it was stable, you had a stable team and all of that, people started dropping like flies. What are you going to do? Right?

Speaker 1:

Like, at every point in time, these obstacles show up and you're going to have to pivot and you're going to have to keep going if you want to be this person who will go on to accomplish your vision, accomplish your goals and all of that stuff. Sometimes, the obstacles are not things as dramatic as that. Sometimes it's life happening. Sometimes it's something great you got pregnant, you have a baby, like which is amazing but it creates obstacles in your business, right, because now you have less time, now you're probably more tired, and all of those kinds of things, right? Sometimes it's not even any of that. Sometimes it's just something you're not good at yet right.

Speaker 1:

There was a time when I was hiring, and I was hiring people that were not a good fit for my company, and so, of course, that created a lot of problems. They were not happy, I was not happy. Eventually we had to de-hire, or they quit or whatever, and that's all ugh, right. But again, you pivot and you keep moving. You learn what you need to learn and keep moving. You ask yourself how is this obstacle making me better? And you choose to become better, you choose to become stronger, you choose to learn a new way of doing things right, and so not falling apart in the face of obstacles was something that was a common theme amongst them.

Speaker 1:

Now, to be clear, this doesn't mean be strong at all times, don't have emotions, don't have any feelings, just shut down obstacles and all of that. It doesn't necessarily mean that, because we're all human, but what it does mean is you know, I teach about this when I host the 90-day sprint masterclasses, like workshops to help people plan for the next 90 days in their business. I'm like, anticipate that there will be challenges and decide in advance how am I going to respond to them, right. So, for instance, for the people in the Entremet Business School, I'm like you have a community of people who understand. They understand so intimately what you're going through, because they're going through it as well. There's somebody you're looking at who is super strong now, but you know, two ago they were in a valley.

Speaker 1:

So, for instance, there's a tier of the Entremet Business School that's called EBS Scale and these are for doctors who are doing over a million in revenue, who are still after hypergrowth. They want to build a team that can run the company without them, and things like that. And so just recently we had a doc who was having a lot of challenges, you know, like with with team, with processes, with the pain that comes with growth, right, when you grow, you break your systems and you have to rebuild them, and all of that. And it was a little hard, it was a little challenging for her Right. And it was very lovely that there was somebody else in scale who had that same experience, like two or three months ago. And and she raised her hand, she's like listen, doc, this was me, right, you saw me go through it. You saw me go through it. And on that day her win was oh my goodness, life is good, my team is good, my company is great I can't even describe it, but business is good, right. And so to see somebody who was where this doctor was having a challenge, to see somebody that was where she was, and to see that that person is on the other side helps you go through your challenge, knowing that these two shall pass right.

Speaker 1:

And so leaning in on your community is a decision you can make ahead of time, like when this happens, I'm going to lean and say this is what is going on. Right, like how would you handle it? And sometimes you just need someone to hear you out. Like you know what to do, you just need support to go through it. Right, like you're going to lean on your community, you're going to ask questions, you're going to get the help that you need, you're not going to roll over and play dead right and all of that stuff. So I have people anticipate like, yes, there's going to be challenges and this is how I'm going to respond. So that was the fourth thing. And the fifth thing they all said is I am so grateful for EBS, I am so grateful for this community, and that is because that is a place where they learn the mindset stuff. That is a place where they learn the strategies. That is the place where boring work putting in the reps has been normalized. That is a place where people understand if I do this long enough, I can get there.

Speaker 1:

So, for instance, today somebody posted in the Facebook group for the Entremet Business School. She was posting on somebody's comments where the person shared their wins for the third quarter of the year and it was big Like. This is somebody who is running a very successful multimillion dollar practice and she's like we had our highest revenue quarter and all this stuff. And she's saying all these things which I'm so grateful that people are vulnerable enough to share, right. And then this person says you are such an inspiration for me because I go back and I watch the videos from years ago when you joined the school and I cannot believe you went from that to become this person. You know what I mean. Not believe you went from that to become this person. You know what I mean and it is such a gift to be able to look at somebody who is like unicorn level rock star and you get behind the scenes access to watch their journey. You know what I mean. It's such a beautiful thing, you know, and so they all talked about that.

Speaker 1:

They all talked about the community, the doctors who are there to support them, the strategies. They get the mindset shifts, they get the fact that they're in a community of people who are vision boards for them, right, and all of that. And it's just huge because you know I talk about this a lot that at the end of the day, you cannot escape the impact of your environment. You're going to look like your community, you're going to look at like the people you spend time with and they all alluded to that Like I'm in the right community, I'm in the right community. One of the doctors said we are the ones getting it done. We are the ones showing that it's possible. There is not a better place to be right. And so for me it was.

Speaker 1:

I usually leave the Wednesday calls like it's such a highlight of my week. I'm so excited because I get to see doctors who are crushing it and they are building their dream businesses and they're building their dream lives and they have a container where they can have the full experience of entrepreneurship. There are high highs, there are low lows, but they're in a place that does not let them quit when the low lows come and they're in a place where they can continually believe in the high highs because they see other people doing it right and it's just such a, it's such a beautiful place to be in, right. And so for some of you listening, like you know you've been, you've been on the fence thinking about the Entremdi Business School this whole time and you're like one day and all of that, and I want to invite you to maybe make today one day, you know, because it is a real place where real doctors are making real change, and it's huge, it's amazing, and you may go like, but I have questions, I'm not sure, and all of that, just book a call. Just book a call with the team entremdicom forward slash call and they will walk you through it and you may be here and you're like no, that's not really what I want to do. And this episode is still for you. I want you to still make that commitment right, make the commitment. I'm going to do the mindset work.

Speaker 1:

We do a lot of episodes on here about the mindset that is required for you to win as an entrepreneur. Put in the reps, you know the things to do to make your business grow. We've done a lot on this. We've done a lot through our books, you know. There's the visibility formula. There's a profitable private practice playlist. There's the on-trending method book. Just learn the reps. Put in the reps. Do the boring work. Don't quit in the face of challenges and build your own community. Build an inner circle of people who are winning. Build an inner circle and leverage that, because it makes a huge difference and it is a big factor in whether you're going to thrive or not as an entrepreneur.

Speaker 1:

Okay, now there's nothing I've said today that is earth shattering. I just want you to see the connection between these five simple things and the kind of wins. These doctors reported Highest revenue they've had ever, 122% growth, quarter over quarter. 60 to 7 volunteers in one business, physician volunteers, which is so huge, and I could go on and on and on and on. It works. Okay, I know we've been sold a lie as physician entrepreneurs that we can't really build very successful businesses.

Speaker 1:

You can't build your dream life in your dream business. I am telling you that you can, and so many people are. You can do it too. And if you don't say yes to your dream and commit to your dream. If you don't say yes to your vision, to your goal, and commit to it, nobody's going to say yes for you, like, nothing happens until you're committed. And so I want you to say yes to your vision, I want you to say yes to your goal, I want you to commit to these five activities right, because they will make all the difference for you.

Speaker 1:

Okay, the next 90 days, what could your business look like? What could your life look like? Think about 122% growth in 90 days. This is insane. What could it be for you if you said yes and you committed to it, right? What could that be? So I am looking forward to hearing you reach out to me after 90 days and saying Dr Una, you will not believe what happened and I promise you I will.

Speaker 1:

Okay, I promise, promise you I will. I cannot wait to hear your story. But do it. And if you're here, you know that. You know that. You know that you're supposed to be in the entrepreneur business school. He's been calling your name. You've been wanting to do it. I want to invite you to say yes today. Okay, and yes is not very complicated. Yes means book a call. Okay, book a call. Talk with my team, get your questions answered and we love to welcome you so you can join the community.

Speaker 1:

Okay, I am rooting for every single one of you. I am excited for physicians everywhere. I know it's a challenging time in healthcare, but this is our time. This obstacle quote unquote in healthcare like, yes, it's awful, but it is really designed to make us stronger. It's designed to make us evolve. It is designed to make us, you know, go back and be the commanders of our future and ride it the way we want to ride it and live the way we want to live and practice medicine the way we want to practice. So I want you to see it as a gift as opposed to a problem. I want you to leverage these five things and I cannot wait to celebrate you, okay. So I'm rooting for you always and I'll see you, my friend, on the next episode of.