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Every single time you say, oh, I want that, something that is different, something that is a preferred future, something that is a quantum leap from where you are right now.
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I want you to start thinking.
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For me to have that, something needs to change.
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For me to have that, I need to show up differently, I need to connect differently.
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I need to do something different.
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There's something needs to happen.
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That's the prize.
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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 Imna.
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Have you ever found yourself frustrated because you know you think your business is growing because you're getting more patients and getting more clients, but you also have a significant number of people who have been patients and clients who are leaving.
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Have you ever wondered, like what do I need to do?
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So, year to year, my client base, my audience base, my patient base, continues to grow?
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Or maybe you have patients or clients who they've worked with you, they've kind of gotten used to you, and you're like, how do I continue to position myself as a person who is the answer for whatever problem it is your business solves for them?
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Well, in this episode of the EntreMD podcast, I am going to show you what I do.
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I'm actually going to take you behind the scenes to show you what I do to put my business in a position where, year after year, people continue to work with us.
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So the EntreMD Business School at the time of this recording is about to be five years old.
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Okay, so the EntreMD Business School started in on June, the 27th of 2020.
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It's about to hit its fifth birthday and we have people who have been in the EntreMD Business School since day one and are still in and are not planning to leave.
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So we have people who have been in the Entree MD Business School since day one and are still in and are not planning to leave.
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So we have doctors who have been in the school for five years, four years, three years, two years, one year.
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I mean we have some doctors who joined, just you know, last week.
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So we have all of that.
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But we have these doctors who've been on and they came up with the hashtag, you know, hashtag EBS for life, and things like that.
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Why do they do that?
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Okay, First of all, what will be required?
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And then I'm going to give you a very practical example.
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Okay, so, first of all, think about your business.
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As this business that continues to grow, People continue to come into your audience, people continue to re-up with you, even when you get them results.
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You've positioned yourself to continue to get them results, and things like that is going to require three things.
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One of them is you're going to be the kind of entrepreneur that believes in continuous improvement, which means your product or your service is never done.
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I want you to start thinking about your product or your service like the iPhone, right?
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And so what that means is, every single year, if you think about what the iPhone does.
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You know they spend time in research and development and prototyping and all of those things to come up with a better version of the iPhone.
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So their goal is not perfection.
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Their goal is not a phone that doesn't need improvement.
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Their goal is just a better, is a better version.
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And that's the same thing that I have done with my business, with EntreeMD.
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Whether it is on the podcast, whether it's with the books we write, whether it was the EntreeMD business school, we're constantly looking like how can we make this better?
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How can we help our people, you know, get better results?
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How can we make this a better experience?
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But we know that we never arrive.
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We have never arrived.
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The EntreeMD Business School has been changing consistently from day one, from day one.
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So that's the first thing that will be required of you.
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The second thing that will be required of you is a relentless focus on getting your clients results right, because sometimes you know there is the trap of, you know, thinking about your business as the final product or the final service, and so we're all in.
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You know, what fires do we need to put out in our business?
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What do we need to make our businesses better.
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What is it that we need to do to hit this revenue goal?
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And all of those things and while, yes, I talk about revenue a lot and, you know, like a whole lot, it cannot be the leader.
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It is not enough of a leader, it is not motivating enough, it will not spark enough creativity, it will make you feel stalled.
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You also always want to have a focus on how do I get my people results, and so a lot of the programming you see, if there's a book we wrote, if there's a podcast episode that we did, if there's new programming we've added into the EntreeMD Business School and all of that it is all because we are focused on results and we want to help our people get results.
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So we do not acquire bells and whistles to have bells and whistles.
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We do not add new programming to what we do just to do it because it looks good.
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Everything we do because we've thought what is it that our clients need for them to get results, and then we go create that Okay, and that becomes the thing.
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So we have this relentless focus on getting people results and I'm going to give you a perfect example, like really perfect.
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We just did this last week.
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Now.
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The third thing you want to do is you want to have a pulse on your clients, or your patients, because you need to understand what it is that is their perceived need, right?
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So, for me, as an entrepreneur, there are many things I know that my clients need okay.
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So, for instance, I know, like you're building a business, marketing needs to be on point, sales needs to be on point.
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I know you need to build a brand.
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I know, as a physician, you need to make that transition from physician to physician entrepreneur, you need to learn to manage your time.
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You need to understand the 20% so you can spend most of your time doing 20% activities.
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I understand that you need to know how to hire great team members, how to lead them, how to hold them accountable, how to evaluate them, how to determine how each role makes revenue.
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Like, I have a ton of things that I know.
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These are the things you need if you're going to build a successful business.
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So I know these things things you need if you're going to build a successful business.
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So I know these things.
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But I also have to know what the perceived needs of my clients are.
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Like, I know they need these things, but what do they feel they need?
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What do they think is getting in their way?
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What do they feel is the thing like, ooh, if I had this, it would really help me, right?
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Because a magical place to be is where there's that overlap with the principles.
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Like you know, this is what this person needs, but you're able to communicate it through the filter and through the lens of what they feel that they need, because they're not going to respond to what I think they need.
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They're going to respond to what they think they need, right, and so the more far away I am from my clients, the less relevant I can be, the less results I can give them, the less I position myself as a person who can help them.
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Okay, so this is really important to know.
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So, continuous improvements we never arrive.
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We never, ever arrive.
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This is why I'm constantly learning, this is why I'm constantly evolving out.
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Because we don't arrive.
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Okay, relentless focus on getting the client's results, because that's the whole purpose of the business.
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The business gets people results and it does it in a profitable way.
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It gets people results and they give a thank you note called money, right, and so we need to remember that as your business gets busier.
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There is this trap to start building the business and you focus on that more than getting people results, and that is always a mistake, okay.
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And then the third thing is a pulse on the clients.
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You need to know what feels like an urgent need to them.
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Okay, let's bring this home, okay.
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So I was thinking about the doctors in the entre MD business school and you know, at the time of this recording, we have the summer coming up, okay, and the summer coming up.
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This presented some things, okay.
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So I'm going to walk you through what I have four things here, okay, so.
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So I would just want to walk you through the way I thought about it and what we did and what I anticipate will happen.
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So the first thing I started looking at was the problem.
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So what was the problem?
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The summer was here.
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A lot of businesses have a summer slump.
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A lot of them have a summer slump.
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The people, the entrepreneurs, get so distracted that they stop taking the critical steps that will make sure their businesses keep moving forward.
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And if you think about it, we're talking about you know almost we're talking about a 90 day period and your results in your businesses lag.
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So what that means is the results I'm seeing now are results of things that I did 90 days ago.
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Okay, of course it's not an exact formula, but right.
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So so it's 90 days ago and so I may say, ooh, everything is working now and I can take my foot off the gas for the next 90 days and I'll still be creating results, because I'm still living off the results I created 90 days ago.
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But guess what happens 90 days from now?
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Now I have no results because the previous 90 days I did nothing.
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I did nothing that really mattered for the business.
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So a lot of times this is what happens over the summer.
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So come the fall, it's like nothing is happening, like my business has come to a standstill.
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I don't have the patients, the clients are not coming in, but when you check in the summer, nothing happened.
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Okay, so this is so critical.
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It is something that needs to be fixed, right, because it's such a problem.
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Now, does that mean don't have a summer?
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No, that's not what that means.
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But how can we do it?
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Where we leverage the summer so that we still create the results and have a summer?
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So, anyway, so the problem the summer slump, the fact that a lot of people don't execute in the summer, so the fall is like an absolute disaster.
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And then there's this other thing when they're working on their businesses, now they feel guilty because they're like, oh man, I could have been on this trip with my family.
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And when they're on a trip with their family, I'm like, oh man, I feel so guilty because I should have been working on my business.
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And so we have this thing of people are just generally I mean, the pictures are nice, but there's a lot of dissatisfaction and there's a lot of, you know, conflict internally and all this stuff.
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So this is what I'm thinking about.
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Like I'm thinking about my clients.
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I'm thinking this is what happens in the summer, so that's the problem.
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So I said, okay, well, what could it look like?
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Like what is a preferred future that they could have, right?
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And so when I think about it, I'm like what if?
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And not what if?
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From a standpoint is of this is possible, because I've done this many times and many of my clients have done this many times.
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But I'm looking for a way to make it a culture, and it's a thing that we all do in the Entremet Business School.
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So I'm like, what could it look like instead of having a disaster of a fall and feeling guilty through the summer and feeling stressed out because you didn't travel, or feeling stressed out because you did travel.
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Right, like, what could it be?
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And I said, well, you could have a summer where, at the end of the summer, when you look back, you're like, okay, did my business move forward?
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Yes, it did, and did I get to have a dream summer?
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So I, you know, I spent time with myself, I spent time with my family, maybe I was able to travel or whatever that is Like, could I have those two things?
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And the answer to that is yes.
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Right, this is the preferred future.
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And I want to be very clear.
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When I talk about dream summer, I'm not talking about Instagram stuff.
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I'm talking about the things that are important to you and a version of the summer that is a significant upgrade from your last summer.
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Right Like, it was a better experience, maybe had more time off, or maybe you have to have more meaningful connections and trips and stuff like that, or whatever that is for you.
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So there's no way to do the summer right Like, for instance, you know, we have some things going on in our family and businesses and church and all of those things and we realized we would be better off traveling, saving our travel for the second half of the year, rather than trying to fit it in the summer.
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And so we're not traveling this summer.
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But guess what we're going to have?
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We're going to have a dream summer, because we've built the summer that works for us.
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It's going to be a lot of fun, it will be a summer to remember, it will be absolutely phenomenal.
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But that's our definition, that's our version.
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I just wanted to throw that out there.
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Okay, so we've looked at the problem and the reason I'm walking through this is because I want you to do this in your business as well.
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So we've looked at the problem, we've looked at the preferred future, and so then, number three then I was like okay, so what is the prize for that?
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And this is a very powerful question to ask yourself.
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Every single time you say, ooh, I want that, like something that is different, something that is a preferred future, something that is a quantum leap from where you are right now.
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I want you to start thinking okay, for me to have that, something needs to change.
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For me to have that, I need to show up differently, I need to connect differently, I need to do something different.
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There's something needs to happen.
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That's the price, okay, so we talked about this summer, where, at the end of the summer, the business moved forward significantly and we had a dream summer.
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What is the price for that?
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What do I need to quote unquote pay for that?
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What do I need to change for that?
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Okay, and as I thought about it, I thought about a few things.
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Okay, what it means is that, ultimately, we're going to do we're going to get a lot more done by doing less.
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Right, that's what will need to happen.
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We'll get a lot more done by doing less.
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Now, what is the secret for that?
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I know that one of the secrets is strategic action, right, and so we don't have time to mess around with the things that are not moving the needle.
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We don't have time to actively procrastinate, and what I mean by that is you're very busy but you're procrastinating on all the most important things that will get you the results.
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This is a time where we show up.
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We do the most significant work, like the work that moves the needle the most.
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We do that because those are your 20% activities, and your 20% activities are always fewer but have bigger impacts, right.
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So we need to take strategic action, which means we need to identify what those actions are and that we need to take them.
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We need to do them, okay.
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So I know that's one of the things that will need to happen.
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That's one of the prizes we would need to pay.
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The other prize I need I know we would need to pay is strategic use of time.
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Now, it's very closely related to strategic action.
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But we can't just show up and do whatever it is we want, whenever we want, because we want to have the time for the family, we want to have the time for the trip, we want to have the wisely and all of that.
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So, like we just can't afford it because the opportunity costs is we cannot have, you know, like significant quantum leaps in business and dream summer, like there's no scenario where that happens, right?
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So I'm like, okay, we need to take strategic action, we need to use our time strategically.
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And then the third thing is we need to prioritize our life and our business.
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Like, if we don't prioritize them, something will fall, something will be ignored, something won't happen.
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And so, for instance, when I start talking about you know me talking to the students about it I'm like we're going to put both of these things up.
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Right, we created a theme and I'll tell you about it in a second, but we're going to put both of these things up so we can drive for both things, okay.
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So it's not like the life is in the back corner or the business is in the back corner.
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We're prioritizing both.
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Why we want to have both.
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Okay, so that's the prize.
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So we're not going to do things the same.
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And so, because that's the prize, then the question is then, as the person who is the leader of the on-trend business school, as a person who is coaching them and showing them the way, and all of that, how do I create, how do I create an environment that will drive people to do these things?
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How do I create an environment where we're not having more programming, where we're having less programming but more powerful, more impactful?
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How do we do that?
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How do I sell them on this idea?
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How do I help them pay the price that must be paid?
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So these are all the things that I was thinking about.
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And then after that, so I looked at the problem, I looked at the preferred future, I looked at the prize, then I came up with the plan.
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Okay.
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So the game plan, what is it that we're going to do?
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I did not realize they were all P's, my four P formula for wowing your clients endlessly Okay, but anyway.
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So then it was the plan.
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Okay, the plan here is okay, let us create a summer experience.
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And this is the way I thought about it.
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I said an hour during the spring and an hour during the summer are not the same, and if people are going to come up on calls on Wednesday and show up live and all of those things, I want them to go.
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Like, my goodness, like you know, it's the summer.
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I have all these things going on, but I'm so glad I came on this call, like I want to make it doubly as valuable, because that time is valuable and I want to be respectful of their time, right.
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And so I said, okay, so these Wednesday calls, we're going to use this as the incubator for all the things that we're going to do over the summer, and you know, and all of that.
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But I skipped one one thing.
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Let me tell you about that real quick.
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One of the things that I did was I remember I talked about having your pulse on the clients.
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I know what they need.
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Right, like, from my perspective and experience, you know, running multiple businesses and in different industries and all of that and coaching hundreds and thousands, at this point actually, of physicians, I know what they need but at the same time, I want to know what they think they need or what they're working on, what they're doing, so I can customize it as much as possible.
00:16:33.499 --> 00:16:41.366
So actually, I did a number of surveys and so, you know, with one group of doctors I was like, okay, what are you working on for the summer?
00:16:41.366 --> 00:16:46.812
Right, like, so we have June the 20th, you know, officially June the 20th to September 22nd, I think it is.
00:16:46.812 --> 00:16:52.015
I said what are you working on?
00:16:52.015 --> 00:16:53.317
What are the top things you want to accomplish in your business?
00:16:53.317 --> 00:16:55.442
And so, you know, people started telling me what that was and all of that.
00:16:55.442 --> 00:17:00.110
And when I looked at it, I was like, okay, at the end of the day, is revenue, is team?
00:17:00.274 --> 00:17:03.686
Some people want to launch some new programs or verticals and stuff like that.
00:17:03.686 --> 00:17:09.923
Some people want to lead their team better, restructure their teams so that they're more efficient and they're more profitable, and all of those things.
00:17:09.923 --> 00:17:11.661
So there were themes that I noticed.
00:17:11.661 --> 00:17:12.736
Right, there are things I noticed.
00:17:12.736 --> 00:17:20.328
So I took what I know they need and I took what it is they're working on and I wove that together to then create this plan, this game plan.
00:17:20.328 --> 00:17:21.719
That is the summer experience.
00:17:21.719 --> 00:17:27.500
And I really, you know, like, when I think about it, you know the summer experience is all about how do I get them to.
00:17:27.500 --> 00:17:30.948
You know, work through so much in little time.
00:17:30.948 --> 00:17:37.208
So they end up having a lot of traction over the summer and they had the time to spend with their families and all that stuff.
00:17:37.535 --> 00:17:48.586
So let me walk you through some of them, okay, so I told you that a lot of the things that came up were around team, were about launching relaunching programs or new verticals or launching their businesses and stuff like that.
00:17:48.586 --> 00:17:52.045
And then you know, of course, the mind that you know there's always mindset stuff.
00:17:52.045 --> 00:17:52.855
You know that came up.
00:17:52.855 --> 00:18:02.380
So I want you to imagine this, okay, because this is starting, like you know, june the 4th or something like that technically June the 11th, but I started from June the 4th, since it was the next call.
00:18:02.380 --> 00:18:13.805
So I want to walk you through what we did, okay, and I want you to think about this and on this one, you can actually send me a DM and just say, hey, dr Rina, good job, you did a good job, okay, cause this is what I came up with.
00:18:13.805 --> 00:18:15.727
So for the first Wednesday, we're going to do what we do.
00:18:15.826 --> 00:18:17.568
We call the RevCon Now the RevCon.
00:18:17.568 --> 00:18:26.936
I developed that because I found, you know, doctors, we don't really like to talk about money, a whole lot and stuff like that.
00:18:26.936 --> 00:18:31.221
And so the RevCon is revenue conference, like think about that like RevCon, and in that we're like okay, this is the way it goes.
00:18:31.221 --> 00:18:32.722
It's a coaching session.
00:18:32.722 --> 00:18:33.604
Somebody raised their hand.
00:18:33.604 --> 00:18:43.858
They're like this is my name, this is a type of business I run and this is my revenue goal for this quarter of the year and this is my question, right?
00:18:43.858 --> 00:18:47.455
So it's literally like there's something getting in the way of your revenue.
00:18:47.455 --> 00:18:52.047
Let's have this conversation, let's get you the help that you need so you can go crush it.
00:18:52.047 --> 00:18:54.641
And I cannot tell you how wild those are.
00:18:54.641 --> 00:18:56.605
Like People come and do that the next week.
00:18:56.605 --> 00:18:59.501
They've hired who they need to hire, they de-hired who they need to hire.
00:18:59.501 --> 00:19:02.416
They've had $100,000 breakthroughs in their business.
00:19:02.416 --> 00:19:04.382
They've done all kinds of amazing things.