Sept. 16, 2024
7 Uncomfortable Things You Need to Do to Grow as a Physician Entrepreneur
👉 Ready for the next step? Book a call: https://program.www.entremd.com/callÂ
There’s no getting around it – growth is uncomfortable.Â
But I can tell you firsthand that once you realize this and embrace that discomfort, you start making quantum leaps in your personal and business growth.
That’s why in this episode of EntreMD, I share 7 uncomfortable but necessary actions you need to start taking now to evolve as an individual and scale your business.
This episode will completely transform the way you think about comfort and growth.Â
Tune in!Â
—
Key Takeaways:Â
- 00:00 IntroÂ
- 03:01 How you need to show upÂ
- 05:11 Who you need to surround yourself withÂ
- 08:28 Your next critical hire
- 11:13 Your team can do a better jobÂ
- 12:52 Iterate your service deliveryÂ
- 14:46 Iterate your revenue generation systemÂ
- 19:33 Upgrade your mentorshipÂ
- 25:05 Recap and call to actionÂ
- 26:23 OutroÂ
Additional Resources:
- Learn more about my 12-month program.
- Interested in 1-on-1 coaching? Apply here.
- Grab a copy of the "The EntreMD Method" book.
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 ...
00:00 - Embracing Growth Through Discomfort
04:49 - Elevating Your Inner Circle
09:34 - Strategic Hiring for Business Growth
11:44 - Maximizing Business Growth Through Iteration
16:40 - Enhancing Business Growth Through Iteration
24:18 - Embracing Discomfort for Business Growth
29:35 - Mastering Personal Evolution for Entrepreneurial Leadership
WEBVTT
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You just want to look like.
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What can I iterate?
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What can I make better?
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Where's the biggest leak?
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Where's the lowest hanging fruit?
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These are questions you ask so you can pick something, fix it.
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This is uncomfortable because usually we don't want to touch this stuff.
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Sometimes you're just scared of what you unearth.
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Sometimes you're just scared about the amount of work.
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Embrace the discomfort of this, because this is the difference between no dollars and $100,000.
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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.
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I'm your host, dr Una.
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Two years ago, I remember taking a walk and thinking about how I was comfortable with everything that was going on in my life, and in that moment the old me would have been excited like this is amazing, I am comfy and all of that.
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But the new me was like oh my goodness, this means that I'm giving up opportunities to grow.
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This means I'm giving up opportunities for quantum leaps.
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I mean, this is not good.
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I need to go look for some scary stuff and do them.
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Okay, now I want to let you know, like walking from this place where you are absolutely comfortable or you're fighting for comfort.
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I used to say that I'm looking for the path of least resistance and all of those things.
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Going from that person to the person who's actively looking for discomfort is a big sign of growth, but what that does is that that has put me in a position where I kid you not, every 90 days my life is different.
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Every 90 days my businesses are different.
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Every 90 days I have evolved and so I 1000% have four years in one.
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I accomplished many, many times more than I could previously, and the person I become every year, the version of me that shows up at the end of the year, is a version of me that I look at.
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I'm like, I like her, and I'm so blown away by how I think, what I can do, the changes I can make, the things I can dream up, the things I can execute on and make a reality.
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It is so mind blowing, okay.
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So what I want to do today is I want to share with you seven uncomfortable things to start doing right now.
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Even if you don't fully understand the concept, you can start doing these things and then you'll find out that the only addiction worth having is the addiction to become the best version of you, right?
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Okay, so if we have not met before, my name is Dr Una.
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I'm a pediatrician by training.
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I'm the founder of EntreMD and I help doctors build profitable businesses so they have the freedom to live life and practice medicine on their terms.
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This podcast episode you're listening to or watching on their terms this podcast episode you're listening to or watching if you're on YouTube, is absolutely going to radically change you and radically change your business.
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I need to listen all the way to the end.
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I need to take this link.
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Share with the doctors in your world.
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Tell them oh, my goodness, this is going to change our lives.
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We have been tired of the status quo and this is it, because this is it.
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Okay.
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So, seven things Number one number one uncomfortable thing you want to do is you want to start showing up as the version of you required to accomplish your goals.
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So, for instance, let us say that last year, you generated $750,000 in revenue in your business and you had set a goal for this year that you wanted to cross $1.5 million.
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Now, the version of you that builds a business that generates $1.5 million.
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Now, the version of you that builds a business that generates $1.5 million in revenue and the version of you that created 750,000, they're a little different, right?
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And so say, this version of you actually has team meetings.
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This version of you casts vision.
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This version of you has a morning routine.
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This version of you is okay with the next pricing that you're going to have if there's going to be a price change, if that's part of the strategy and you want to kind of embody like, what would that person do and show up that way.
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One of the cheat ways I do that is, you know, I would write it all out, like you know, these are the things that I would do.
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But I also look for examples of people who are already doing this.
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This is their current reality, and I write down those examples and think about those people and kind of not look at what they're doing, to copy it.
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But it also kind of it almost gives me a kind of vision board that will this person do what you're doing?
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Like you've had this task on your, this 20% activity, this very critical activity on your to-do list for the last three weeks.
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Would this person do that?
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You show up to market your business when you feel like, but this person shows up consistently.
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Would this person do that?
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So you want to start showing up like that person.
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You want to be the person who is leading an, a team.
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How does that person show up?
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That person has certain leadership traits, so maybe you want to start reading books around that that person has regular meetings with their team.
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Maybe you want to do that.
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That person gives their team the gift of accountability.
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They don't see accountability as a bad thing.
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They see it as what champions need to thrive.
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So you start giving that gift, start showing up like the version of you required to accomplish the goals that you set.
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So that's the first uncomfortable thing.
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So it's uncomfortable but it's fine.
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The ROI on comfortable things that will take you on the way to where you're trying to go is like unbelievable.
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Okay, all right.
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Number two.
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Number two is upgrade your inner circle.
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Upgrade your inner circle.
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And so when we're younger, you know we either have our relationships randomly happen to us, so you know I'm in a class with somebody so we become friends.
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You know we go to the same church together, so we're friends, and things like that, or we have relationships curated by our parents, right, like so I have this friend and I want their kid, to be friends with my kid because it would be a good influence and things like that.
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And so as people, as when we're younger, our relationships kind of happen to us right.
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There's no strategy, there's none of that.
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As you become this person who wants to be on this journey of evolution, becoming the kind of person who can pull off the dreams and goals you're trying to pull off, one of the things you can no longer let randomly happen to you is your relationships, especially your inner circle, like your friends of friends, like it cannot be random.
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Your mentors, all this like it cannot be random.
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And so you want to take a look at your inner circle and say, okay, if my life ended up like this person's life, would I be okay with it?
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Right?
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If my habits were like this person's habits, will I be okay with it?
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Right?
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The people in my inner circle are they inspiring me to be better?
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Like when I come to them and I'm like, oh, you know, like I'm kind of in a funk and you know I haven't, I haven't, I haven't promoted my business.
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You know, for the last, the last two months, and you know I just had two team members leave and I'm just, I'm just sick of this Is your inner circle, like a group of people who who would hold your feet to the fire, inspire you, encourage you, but also hold you accountable and tell you you're tripping.
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Or other people will say, yeah, I know, I know, man, like this is just so messed up, like I feel like quitting too, because if they're going to go on the pity party with you, you need new friends.
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And don't get me wrong, I'm not saying you know you had friends forever.
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Cut them all off.
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But your inner circle, the people you go to when times are challenging, the people you go to when things are not moving the way they should, are the people who will hold you, who will encourage you, who will give you a big hug and then give you the kick you need to go get stuff done right, like upgrade your inner circle.
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It's uncomfortable because we, you know, and especially if you're like I'm phlegmatic at my core, right when you think about the four temperaments and stuff like that and so, which means my natural bent is to avoid conflict of all kinds, right, and so I just like let's sleeping dogs lie, but you know sleeping dogs are not going to lie, okay, all right.
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So uncomfortable, audit your inner circle and then think who do I need in my inner circle?
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Maybe you don't want to reach out to them, but this is a time.
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You reach out to them, you start having conversations with them, you find out if you could go do lunch with them, you find out if you can build a web where this person is part of your inner circle.
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It's uncomfortable, but it will be such a game changer because the principle is this you don't rise above your environment.
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Think about the language you speak.
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You didn't choose it.
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I speak English with an accent and I speak Igbo, which is a Nigerian language with an accent too.
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So I'm a native speaker of nothing, but I didn't choose these languages.
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I just grew up in environments where these languages are spoken and I speak them.
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The end the end.
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So, in the same way, you're going to mirror your relationships.
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You can't escape it.
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You can't choose not to mirror them.
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It's only a matter of time, okay, so uncomfortable it may be, but it would change your life.
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Upgrade your inner circle.
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The third thing is set the stage to hire your next critical hire.
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Almost every entrepreneur I talked to knows what their next critical hire should be.
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It could be an executive assistant.
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It could be a virtual assistant to your private practice.
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It could be a new biller.
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It could be an office manager because you have you know you have like three doctors and you're managing them and all the support staff and everybody by yourself and managing the administration of the practice.
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Like.
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It's time for you to get a practice administrator on board.
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It's time to get another coach into your coaching company, like.
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Whatever that is.
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I can't tell you how many people they know that they have not even taken the time to do a job description.
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Maybe they have a job description.
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It's sitting in their Google Drive.
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They've never actually put it out there.
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They've put it out there but they're not telling anybody about it.
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So nobody's applying.
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People apply.
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They've done the interview.
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They're not making a decision.
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Set the stage.
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Who's your next critical hire?
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Get them on board, because this is the deal.
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If you get the right person on board, they will bring so much value to your company that you could never in a thousand years bring yourself.
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There are so many things you're doing that they would do faster, they would do more efficiently, they would do more excellently.
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There's so many things you don't even think of.
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They will bring their ideas with them, right.
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And so who's your next critical hire?
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Set the stage to hire them.
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Now people always ask me well, what if I do this hire and I hire the wrong person?
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And my answer to them is this it's always working.
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Okay.
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So if you hire the person, the person was not the right person.
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By the way, I have a lot of podcast episodes, so you want to go look like about how to hire top talent and all of those things.
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I have a lot of those episodes, so go listen to them so you can make the best possible decision when you hire.
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But if you hire this person, it turns out that this was a mistake.
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This is not the person that you should have hired.
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Here's the deal.
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You have a job description and if it needs to be edited, you know what was wrong.
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You know what happened.
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You know, like, I didn't put this here, I didn't put this there, that's why this happened.
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Okay, you have an interview process, is I do one interview and if the person's a warm body and they have a great smile, I hire them.
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Now you know that strategy doesn't work anymore and you're going to learn the strategy that does work, right, maybe you didn't have KRAs for them key result areas or KPIs, key performance indicators so you never told them like this is how you know that you scored a goal, this is how you know that you're winning.
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So they were just coming and doing whatever task came to mind and stuff.
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But now you know, and so you're going to create these KPIs and these KRAs.
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You now have a really deep knowledge of who you do not want to work for, and so it's so much easier for you to articulate that in your job description, articulate that during an interview and all of that.
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So at the end of the day, even if it didn't work, it worked.
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Even if that person didn't work, your hiring system got so much better.
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And so what if we fail?
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Fail already so you can go on to get the right person.
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Okay, that's the third uncomfortable thing I want you to do.
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The fourth uncomfortable thing I want you to do is to upgrade your current team.
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When you have a team of people who are doing a great job, I promise you they could do a greater job.
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But that is tied to your leadership.
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That is tied to you casting the vision for the company.
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That is tied to you holding them accountable for more.
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That is tied to you calling them to hire, and they can do that.
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You can have somebody who's a front desk and they just kind of answer the phones and they're really nice to patients and all of those things, but that front desk person could also be the person who would tell you.
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You know what.
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I want you to think of this, as you are the schedule manager and I want you to make sure that I have 25 patients on the schedule every day, like based on the people who come in for appointments, based on hitting the recaller, based on the people who call.
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I just want you to kind of own this and you'll be surprised that this person could be an absolute rock star at this role.
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You have an office manager you could call to hire.
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There's so many people, there's more in them.
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As humans, we have the capacity to evolve and evolve and evolve.
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Think like Play-Doh.
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Okay, we're not like rocks, we're like Play-Doh and we can be one shape and we can take another shape and we can take another shape, and as you evolve, your team can evolve too, right, and so upgrade your team.
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Now it's uncomfortable to tell them this is where we're going, because you have so many questions about it.
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You're not sure about it.
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You know all the things.
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You haven't even done what you're trying to do before, so you don't even have the experience.
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If you will, right.
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But you can call them to hire.
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It's uncomfortable.
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You can tell them how you believe in them and what you know they can do.
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You can hold them accountable to that new level.
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You can do that.
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Upgrade your current team, okay.
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Upgrade your current team.
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Number five iterate your service delivery.
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Iterate your service delivery.
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The people in the Entremet Business School can tell you this.
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Right, the Entremet Business School started June 27th 2020.
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At the time of this recording, we've been going on for over four years.
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The people who came into the school four years ago and a number of them are still in the school.
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A number of them are still in the school from the very first cohort.
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They use the hashtag EBS for life and they say they will tell you that the version of the school they have now is nothing like the version of the school that they had when they started.
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The people who came in a year ago will tell you that the version they have now is very different from the version they had when they started.
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Why we're constantly iterating.
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We're constantly looking for how to get our people results faster, bigger.
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We're constantly looking for whatever roadblocks they're experiencing to remove them.
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We're constantly looking for themes like where are they getting stuck so we can remove that?
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We're constantly looking for okay, what do we do to give them the support they need?
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In my private practice we have what we call the assembly line and I know it sounds like a very mechanical term but really it describes what happens from the time a patient walks through the door to the time they leave.
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We have an assembly line and we're always looking at that assembly line.
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Okay, where are we having the biggest roadblock?
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What can we do there?
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Where are we seeing the most dissatisfaction?
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How can we fix that?
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Like my private practice is a construction site, like it's an eternal lab.
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It's a lab where we experiment and do all of these things.
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It's so much easier to just let sleeping dogs lie and leave things the way they are and if it's not broken, don't fix it, and all of that and all of that.
00:14:26.741 --> 00:14:30.517
But I want you to embrace this uncomfortable thing of iterating.
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Iterating your service delivery.
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We have this 2.0, then 3.0, then 4.0, then 5.0.
00:14:35.320 --> 00:14:44.267
Keep iterating, and the more you do this, the more your business evolves, the more it stays at the forefront, the more innovative your practice is.
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Your business is right, okay?
00:14:46.428 --> 00:14:47.269
So that's number five.
00:14:47.269 --> 00:14:50.451
Number six iterate your revenue generation system.
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Okay, iterate it, make it better, make it more efficient, make it more effective.
00:14:55.981 --> 00:15:00.677
So, for instance and there's so many, there's so many things you can do here, okay.
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So let me give you examples.
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I'll give you an example with a private practice and with coaching.
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So, with coaching, maybe you have some issues with your revenue generation in terms of you have no system for what happens if somebody's credit card payment fails, right?
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Somebody who's working with you on a recurrent basis.
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Like what is that?
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So by the time you think about it, by the time you reach out to the person, by the time you do this, you're already at four weeks or five weeks.
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That means you're leaving so much money on the table, right?
00:15:30.100 --> 00:15:34.355
Your revenue generation says you could also be looking at what is the speed to response.
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So, when someone says I want to work with you, I am ready, I want to work with you, I want you to think about this, right?
00:15:40.779 --> 00:15:42.461
This actually happened to me this week.
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Okay, there is a project I'm working on and you know, for this project I said I was, you know I was telling the person I'm working on this project with.
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I said one of the most expensive things we can do is try to figure this out.
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This is not on our own.
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This is not a world that I've necessarily played in, so we need to find a mentor, a coach, a consultant who has done this, one who has done this for others too, and we need to bring this person on board.
00:16:07.840 --> 00:16:13.360
We need to pay them and just have them help us avoid all the mistakes along the line, cause I'm 45.
00:16:13.360 --> 00:16:15.403
I don't have time to do this, to do this forever.
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We need to get.
00:16:15.985 --> 00:16:17.488
We need to get to Now.
00:16:18.208 --> 00:16:28.559
There is a group that, arguably, is one of the best in the industry, and I've reached out to them three or four times, and their process is you book a call and you do all of that stuff.
00:16:28.559 --> 00:16:32.220
I've reached out to them three or four times and they still have not responded to me.
00:16:32.220 --> 00:16:34.525
And this is over at this point.
00:16:34.525 --> 00:16:39.581
It's a few weeks and they've not responded to me, and so this weekend I said okay, fine, I'll reach out one last time.
00:16:39.581 --> 00:16:56.158
However, I started talking to another company and they're not as big as the other guys, right, but the thing is this they have taken people, the person has taken people, has taken his business to multiple seven figures in this industry, and the person has done this for other people.
00:16:56.158 --> 00:17:04.259
Now, granted, the other company may be fantastic and maybe much bigger and all of those things, but I'm like for where I am now.
00:17:04.259 --> 00:17:06.046
You know, we're in startup mode.
00:17:06.335 --> 00:17:14.685
The truth of the matter is, if this guy is going to get me, he's going to help me avoid the mistakes we'll make on the way to the first million.
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That's about all I need right Now this person.
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