16. “I Don’t Know How To Start My Business” with Dr. Una

Aug 5

Physicians make some of the best business owners: Fact. Thinking of getting on that entrepreneurial ladder? This episode with Dr. Una, the EntreMD, is for you as we talk all about how physicians can start their own profitable ventures!

Listen to Episode 16 Here

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The Chief Complaint: I Don’t Know How to Start My Business

Dr. Una is the CEO of Ivy League Pediatrics, a ten-year-old award-winning private practice. She went from being a great clinician with no idea how to run a business to a serial entrepreneur.

Armed with her depth of experience and wealth of knowledge, she founded EntreMD, a company designed to fulfill her passion for helping physician entrepreneurs build profitable businesses. She does this through the EntreMD Podcast, conferences, and coaching.

Una joins me today to talk about how physicians like you can create your own profitable business. It all starts with your idea and you go from there - with the two most important factors being: will it make you money? And will it change the world?

If you answer yes to both of these things, let’s get brainstorming! Una explains how you can brain dump all your incredible business ideas to figure out which is the winning one. She also lets us know how this process helps you find your perfect thing and then, the best part, monetize it!

And monetizing it is actually the most important part of your business. If it’s not making money, your business is just a very expensive hobby - and no one wants that! Una talks about how you can figure out your business model to know exactly what type of profit you should expect from your idea.

Now, ladies, as physicians, we’re so used to being perfectionists. It comes with the medical territory! But when it comes to starting your own business, honestly it’s better to go for progress over perfection. You need to get your business out there and get started before worrying that every little thing is perfect.

Next, Una explains how you can validate your business idea. The best way? Asking your ideal clients what they want to know about your business area of expertise. You can even do this research through social media.

Homework

Now that you’re in a more comfortable relationship with your body, I bet you’re feeling antsy for something else. Is starting a business in your future?

Try this exercise for yourself: write out as many ideas as possible you have about your potential new business. Let all of them out, absolutely no idea is off the table right now! Then let me know in the comments on the episode page how that was for you!

In This Episode

How physicians can create profitable businesses
You can make a business that does both: makes money and helps the world
Some of the ways you can brainstorm for your new business
How you can find what your thing is and monetize it
Why you need to figure out your business model and how you’ll make profit before anything else
Why your medical brain needs to be different from your business brain
How you can validate your business idea

Quotes

“With business, you get to monetize what you love to do so that you never have to work.” (13:19)

“Progress over perfection wins any day.” (17:55)

“The goal is not perfection. The goal is progress. It is always progress.” (19:49)

“It doesn’t mean your idea is wrong, but if you don’t communicate it in the way that will attract your ideal client, they’re just not going to respond.” (26:44)