Hey guys and welcome back to the Medical Entrepreneur podcast.
My name is Adam Sewell, and this is where we teach you how to break free from traditional medicine, to carve the career of your dreams and still do what you love.
And I’m really, really excited for today’s episode.
Because today, I get to tell you all about the different ways you can become a medical entrepreneur and create the life of your dreams.
So if you’ve ever wanted to start your own practice, and enjoy all the freedoms and perks that come along with it, then this is everything that you need!
Let’s jump right in!
What I didn’t know when I started
So when I first started my medical entrepreneur journey, I honestly had no idea what was ahead of me.
I had absolutely no idea of the pathway that was ahead of me, I would basically take the next step that was in front of me, hoping that it would eventually lead me to where I wanted to go.
What I’ve learned from that is that there is basically a pathway to the medical entrepreneur journey that I have come across, and that’s what I want to show you.
So whether you’re a nurse, chiropractor, CRNA, whatever, these are the different ‘stages’ or ‘checkpoints’ that you will come across on your journey.
The Inquirer
For most people, this is where they first start out.
The Inquirer is a familiar position for all medical entrepreneurs. For most people, this is the stage where they get their first job in mainstream medicine, or they finish their training, and then they realize “This isn’t what I thought it was going to be.”
So most people who are on this path and at this stage will begin to ask themselves “Is this the right path for me?”.
This is the point where you have to evaluate if this is right for you or not, this is where you can decide to keep going, or perhaps switch paths to something else.
And this stage involves a lot of research, it involves a lot of time thinking about whether a certain path is right for you or not.
Starting Out
The next stage is starting out.
And the question that you really have to ask yourself is, “How do I grow?”, and, “How do I keep getting new customers?”.
At this stage, most people have already started their practice, and they are at the stage where they have a couple of clients, and are working part-time on their business.
At this stage, what really matters most is messaging. For example, having a really good message and good branding is what allows you to really be able to take it to the next level.
The Booster
The Booster is someone who has started their practice, possibly working full-time now, but is still trying to get more clients through the door.
The focus of this point is on how you can get enough patients through the door to be able to hire a staff member.
Because most people here are not working as many hours as they did in the hospital, and they aren’t making the same salary because of it.
And to get out of this phase, you need to have a marketing communication and a sales funnel in place. Because once you can predictably get clients through the door every month, that’s when things start to take off.
You want to go from having little spurts of clients here and there to a fully-automated, steady and predictable stream of clients coming through the door.
And that’s what is really key for moving to the next stage.
The Maker
So the Maker stage is the point where you are working full-time on the business and you need to find ways to leverage your time, since you’re so busy, and you’re having so many patients that you’re not sure what to do with your time.
This is the stage where it feels like you’re being pulled in a ton of different directions because you are wearing so many different ‘hats’.
You’re being the provider but also the manager at the same time – which is a difficult place to be in.
At this stage, you often have more money than time, and you have to make a plan to be able to delegate things efficiently.
The main focus at this stage is being able to create systems for people and things to make sure that everything runs smoothly.
And at this stage, you’ll have to ask yourself where and when you can hire people, such as someone on the front desk or someone to answer the phone etc.
The Driver
So when you’re in the Captain position, this is where you’re doing really, really well and you’re looking for ways you can offload some of the workload to other people.
This is where you will see a huge pay-off between working ON your business and working IN your business.
You’re now starting to focus mainly on hiring, on systems and ensuring that everything is running smoothly in the business.
And at this stage there’s a very small ROI that comes from working in the business, because when you focus on helping the business grow, that’s when you can move onto the next stage.
The Captain
The next stage that you have is called being the Captain. This is where you are almost physically removed from being in the business, but you are still the one steering the entire thing in the right direction.
At this stage, what’s really important is focusing on building a culture within the business that people can work in, and ensuring that all new systems and people who come into the business are all done so smoothly.
At this stage, you will likely have a pretty high turnover, so you’ll be able to afford some really good talent, and you’ll have to have systems in place to be able to train them up and monitor their progress.
The CEO
This is probably the biggest stage that comes when working in your own practice. Essentially, this is where you are 100% focused on your team.
Because at this stage, you’re likely going to have a few staff members, and teams and organized team leaders. So at this stage you have to think about how you can organize and grow those teams to reach the point where they are running smoothly and they can really help the company grow.
At this point, you do almost no work ‘IN’ the business. All your time is spent working ‘ON’ the business.
The Investor
The next stage – and not many people reach this one, is where you can actually make investments into different companies.
You’re going to want to think about building inter-networking companies, or stacking companies here.
It’s all about making investments that customers will need along the way.
So for example, if you’re in aesthetics, you might want to think about having an esthetician, because that’s another kind of service that someone might be interested in.
The Benefactor
The next stage is the benefactor, which is the highest stage of being a medical entrepreneur.
Here, you’re going to think about how you can have a lasting impact on the world, and what you can do to build something that will last beyond your lifetime.
At this stage you’re mostly thinking about how you can donate to your companies or non-profits to have a lasting impact.
And this is the stage where you’re gonna look back and realize what a beautiful journey it has been, and you’ll start to realize how every single step came together to lead to this one beautiful thing.
If you think you’re ready to start your own journey as a medical entrepreneur, make sure to follow us on social media and subscribe so you never miss an episode!
Additional Resources:
– Join my challenge here!
– Check out my website here!
– Sign up for our Aesthetics training here!
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Medical Entrepreneur is a podcast dedicated to those who are trying to escape mainstream medicine and start building the healthcare business of their dreams.
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