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September 28, 2023 18 mins

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Burnout is no stranger to the entrepreneurial journey, but what if you could strategically dodge it? That's right - there's a way to significantly diminish the risk of burnout and simultaneously improve your productivity! The secret lies in an age-old principle; the Pareto principle or the 80-20 rule. As we uncover how this principle works, you'll learn how to identify the vital 20% of your tasks that result in 80% of your success. More importantly, we'll guide you on how to ensure that most of your time is dedicated to these vital tasks. 

We're not stopping there. We'll also discuss how to apply this productivity-boosting rule to amplify both your business and personal life. From increasing your offers to finding more people to engage with, we'll explore the crucial activities that can steer you towards your goals. By focusing on that golden 20%, you can achieve bigger and better results in less time. 

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  • 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.

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Episode Transcript

Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
Hi dogs, welcome to the EntremD podcast, where it's
all about helping amazingphysicians just like you embrace
entrepreneurship so you canhave the freedom to live life
and practice medicine on yourterms.
I'm your host, dr Imna.
Well, hello.
Hello, my friend, welcome backto another episode of the

(00:25):
EntremD podcast.
Today we're going to talk aboutsomething that I hope you put
yourself in a position to nothave to deal with, and that's
burnout, but this time as anentrepreneur.
Right, it really is a buzzword,like in the physician community
, with numbers anywhere from 60to 80% of physicians reporting

(00:45):
burnt symptoms, if you will, ofburnout in the last 12 months.
But for me, it's very rewardingto see doctors who embrace
entrepreneurship, whether that'stheir, whether they're
entrepreneurs or they'redeciding to become coaches or
run their own private practicesand things like that and they
come to this point where burnoutis a thing of the past, right,

(01:07):
like so.
They're helping people.
It's very rewarding to them.
They are creating financialfreedom for themselves, they're
creating time freedom forthemselves, they're taking more
vacations, they're taking bettercare of themselves, they have
better boundaries, so work isnot seeping into family time and
all of that, and it's reallybeautiful to see Now on the

(01:27):
other side as they continue togrow and continue to grow.
Then they bump into this newthing where they're like, wait a
minute, this feels like thatdid right.
Where they're like, wait aminute, I feel burnout, but now
this is of my own making.
You know what I mean.
Like I took back control and Ihave autonomy, but I feel

(01:48):
burnout.
And what that does is it putsthese amazing physician
entrepreneurs running seven andmultiple seven figure businesses
in positions where they're likeI don't want to grow, like if
more success means more of this.
I don't want it, and theyactually start sabotaging their
own growth and I don't want youto have to deal with that.

(02:08):
Okay, so today we're going tobe talking about the number one
reason entrepreneurs burnout andwhat you can do about it.
And this is something I'vepracticed for so many years.
When I look at it, like I am atthe helm of running five
organizations, right, and theseare big organizations, you know

(02:29):
what I mean.
And so how do you put yourselfin a position where you can do
that and really you have moretime, not less time, right?
Like how amazing is that?
So we are physicians, so wehave the benefit of a picture
that will really make this makesense.
And I want you to think aboutsomebody who is an emergency

(02:51):
medicine doctor and who isrunning a code Okay, so I want
you to think about it.
Running a code that lots ofpeople in the room that this is
really high stakes, somebody'sabout to die and there's what
seems like chaos right To anoutsider, and all of that.
Now, when you think about that,the doctor in that position has

(03:13):
no intention of fixingeverything None whatsoever.
In fact, the doctor has analgorithm, right.
So this is an adult.
He has an whole ACS, aclsalgorithm going on in his or her
mind and they're very clear.

(03:33):
In this situation, these arethe things I do and this is the
sequence I do them in.
Okay, so, anything that'soutside of that typically
something that getsprocrastinated on or it is
something that gets delegated,but the doctor is very clear.
There are 3000 things to doright now and these are the

(03:56):
eight things that I need to do,okay, so the thing that creates
burnout really is trying to doeverything, okay, okay.
So I've built the company andwhen I started off, I could run
it as a one, two, three brandshow and get away with it.
I could do all the sales, allthe marketing, all the finances,

(04:17):
all the operations, all of that.
I could do all of it, okay.
And then, plus, at home, I havethe husband or the wife and the
children and the this and thethat, and I could do all of it.
But as growth comes, it comeswith more things to be done,
right?
So there could be more thingshappening in your personal life
and more things happening inyour business, and sometimes
what we do is we continue totake more and more things on.

(04:42):
There is nowhere that leads tobut burnout.
And so what if you had an ACLS,bls or PALS card for your
business where you're like thereare all these things going on,
but these are the things I do.
You've done it as a doctor andyou can do it as a physician
entrepreneur, okay, so what doesthat bring us to?

(05:06):
It brings us all the way backto a age-old, really old concept
called the Pareto principle orthe 80-20 rule.
Okay, now, the 80-20 rule ispretty clear.
It's this rule that states that20% of your 80% of your results
will come from 20% of youractivities.

(05:27):
Okay, so I want you to thinkabout your business, right, and
you do a hundred things in yourbusiness and you brought in $10
million.
Okay, so you did a hundredthings.
You brought in $10 million.
That rule states that of thehundred things you did, there
are only 20 things thataccounted for $8 million.

(05:51):
Okay, so you did a hundredthings.
20 of those things created $8million.
The other 80 created $2 million.
Right, and so the idea is howdo I put myself in a position
where one I'm very clear on whatthe 20% is and I spend 80% of

(06:15):
my time living there?
I want you to stop.
I want you to stop for 30seconds and think about this.
Most of the things I do accountfor the smaller part of my
success.
There are a few things I dothat account for most of it.
Now, if I can learn to alwaysanalyze and audit and say what

(06:38):
is the 20%, if I can do that,then I put myself in a position
where I can get so much done,and I did it with less time
because, hear me, the problemwith the 80% is number one is
low value.
Now, that doesn't mean theydon't have to be done at all.

(06:58):
Maybe they have to be doneright, but maybe they could be
done by somebody else.
Some of them will need to bedone by somebody else.
Some of them may be done by you, but in 20% of your time, and
maybe some of it just needs tobe deleted, right, but anyway,
the problem with the 80% is oneis low value, but two is high
volume.
That's the problem.

(07:18):
This is the problem.
The problem is the 80% is 80things, but it only gives you 2
million, but there are these 20things that can give you 8
million.
So why don't we do the 20%things twice and end up with 16
million?
And we did it in 40% of thetime.
Do you see what I'm saying?
So the 80% is the enemy, the80% is the trap.

(07:43):
The 80% is what creates burnout.
The 80% is what createsmediocre results.
The 80% is what createsoverwhelm, the 80% is what
creates paralysis.
The better you get atidentifying what the 80% is and
either deleting it, delegatingit or doing it in less than 20%
of your time, the better, and soI've been working on this

(08:07):
concept for years, and for thenext 12 months, I was like you
know what I am going to live in?
The 20%.
I am going to so aggressivelyfilter my time, screen my time,
that I am living in the 20%.
My business time is spent on my20% activities.
My family time is spent on my20% activity.

(08:28):
Like, think it in that way.
This will change your life.
Okay, all right.
Now I want to give an exampleso I can try and bring this all
the way home.
Okay, let's use an example.
Let's say you want more clientsor you want more patients.
Like, that's the goal that youhave, right?
What is the 20% there?
Okay, so now I want to makethis very clear 20%.

(08:49):
Sometimes, if you're like, whatis that?
Ask yourself what are thethings that I know are good for
my business?
But I procrastinate up on themost A lot of times, that's your
20%, right?
These are the things, a lot oftimes, we don't want to do.
But now, when you think aboutmore clients, people can say, oh
, yeah, I will show up on socialmedia, I'm going to do a direct

(09:12):
mailer, I'm going to do ads,and there's nothing wrong with
ads, don't get me wrong.
I have a lot of podcastepisodes on this, but this is
where people like to run tofirst.
But at the end of the day,somebody say, yes, comes from
you asking them a question.
Somebody say yes to you workingwith them in some way, shape or
form comes from some kind ofsales activity.

(09:33):
Okay, and so your 20% is goingto be selling, is going to be
selling and is going to be thethings that support selling.
Not prepare for selling, butsupport selling.
So let me give you an example.
If you're saying I want todouble the number of clients I
have, that's my goal, what youwill not hear from me is that's

(09:56):
a ridiculous goal.
I'm like what?
Let's do it?
All right, what do you want todo to pull it off?
What I would be expecting tohear from you would be things
that are 20% activities.
Like number one increase thevolume of my offers, increase
the volume of my invitations.
So maybe I used to ask onsocial media, or ask at events,

(10:21):
or speak or ask for referrals orask for all of those things.
Maybe I used to do that 10times a week.
If you want to double thenumber of clients, it makes
sense that you at least doublethe number of asks.
So I'm asking people twice asmuch.
I'm upping the volume of my ask.
That's a 20% activity.
Finding more people to ask isanother 20% activity.

(10:47):
So you can ask and ask and askand ask.
But if you're asking the samepeople, yes, you're going to get
resolved, but the law ofdiminishing return is going to
set in at some point, and sowhat that means is, well, I'm
going to go guest on podcasts.
I am going to go speak onstages, I'm going to attend that
networking event.
I'm going to go serve in otherFacebook communities where my

(11:09):
ideal audiences live.
Notice, I said serve, I didn'tsay sell.
We want to be respectful ofpeople's groups.
Ok, it's not just a group wherepeople sell, all right.
So I'm going to do all thesethings.
Why?
I'm going to double the amountof times I show up in front of
new people, people who do notknow about me, ok, so if I want
to double the number of clients,I am doubling my audience, if

(11:33):
you will.
Or the number of times I'mshowing up in front of new
audiences, I'm doubling theamount of times I'm asking.
Right, that's the second thing.
The third thing is I'm upleveling my skill when it comes
to selling.
I'm going to become better.
You might say, oh, but Ibrought my business to seven
figures.
I brought myself, my businessto multiple seven figures.
Great, but what brought youhere won't get you there, right,

(11:56):
and there are people forinstance, russell Brunson showed
up on the stage and did a 90minute presentation on close
$3.1 million in sales from one90 minute presentation.
And so if you have not donethat, I dare say there's room
for improvement.
You can learn to be better atthis stuff, right, and so
improve your skill of selling.
And this is why investing inyourself is so important.

(12:20):
It's so important because thatis what makes you say I do not
recognize myself, I did notrealize I could do this, I did
not realize I could pull thisoff, which is what we hear in
the on-termity business schoolall the time.
Ok, so that's the first thingis increasing the volume of your
asks.
The second is finding morepeople to sell to Right.
The third is increasing yourskill of selling.

(12:43):
And then the fourth thingreally is increasing your client
results Right, one of yourobsessions if you serve people,
whether this is a privatepractice setting or as a speaker
, whether you always want tothink how can I get them bigger
results?
How can I get them betterresults?
How can I get them resultsfaster?
What is confusing?
What can I get out of their way?
Why?
Because the bigger theirresults, the higher the

(13:05):
likelihood they will continue towork with you, the bigger the
results, the higher thelikelihood they will refer other
people to you, the bigger theresults, right, and you can
start creating this snowball.
You see what I'm saying.
Now, if you're telling me thisis what I want to accomplish and
you tell me this I want todouble the amount of clients,
patients, speaking gigs that Ihave.
And I listen to you and youtell me these are the things I'm

(13:27):
doing.
At the same time, there'll be700,000 million things that
you're not doing, but I knowthat you're doing the things
that will move the needle.
So you can actually do this andyou can double your client base
, double your patient panel,without burning out Like you may
actually end up doing lessbecause you got rid of all the

(13:48):
80%.
You got rid of the email andthe calendar and even pitching
the pocket, Like all this stuff.
You got it off your plate.
You got all the people to takecare of it, like in your
personal life, in your business,like all over.
You're building all these teams, right?
So if you're going to take onmore things, things have to come

(14:10):
off.
And if you're going to take onmore things and you're going to
get more done in less time, thenthe 80% just needs to go.
It needs to go.
If you can adopt this way ofthinking, you become unstoppable
and you start having this lifewhere things that take other
people five years you're gettingit done in a year.
You're getting it done in sixmonths.
Right, and the more you do it,the better you get at it.

(14:33):
It will change your lifeforever.
So this is my homework for you,right?
I want you to do an audit, lookat your calendar from the last
month or things like that, andgo like okay, what are the
things that are actually movingthe needle in my business?
How am I using my time?
How much time am I spending onthe 20%?
How much time am I spending onthe 80%?

(14:54):
And make a commitment to double.
Take the 80% things off andreplace that with 20% time, 20%
activities.
It will rock your world, okay.
So go workshop this.
This will really change yourlife.
If you're like man, I need helpimplementing this.

(15:15):
I need help.
I know what.
It is right, because the biggeryour business is, the more like
your 20% stuff is not justdoing, but is doing things
through a team, and so buildingyour team, training your team,
hiring the right people,building the culture all that
becomes a huge thing and growingto become the kind of leader
who can lead that kind of team.
These are all now 20%activities, right?

(15:36):
If you need help with that inany stage of that, understand
that we have something for you,okay.
And so if you need helpimplementing that, reach out to
my team on termdcom, that's ontermdcom.
We're happy to help you, happyto support you on that journey,
and I cannot wait to see theresults you'll create.

(15:57):
I want you to think about thiswhat if, over the next 12 months
, you're able to double yourimpact, double your revenue,
double your time off?
Think about it.
Double your impact, double yourrevenue, double your time off.
If you can do that, what isthat worth to you?
Is that worth doing thisexercise?

(16:18):
Is that worth figuring this out?
Is that worth figuring out the20% and living there a thousand
times?
Yes, and that's what I'm goingto be doing.
So I invite you to do the sameand I cannot wait to celebrate
you when you send me a DM andsay Dr Runa, I listened to this
podcast episode you did a yearago and I took you up on that
challenge.
And guess what?
Over the last 12 months, I havedoubled my impact, I have

(16:39):
doubled my revenue, I havedoubled my time off, and that
would be so amazing.
Okay, all right, so go do itand this episode share it with
the doctors in your world.
Share it on your social media.
Tag us hashtag on Tremd.
Tell me what resonated with youthe most.
Make this a conversation.
I'll see on social media andback here on the next episode of
the Entremd podcast.

(17:00):
Hey, if you love listening tothe Entremd podcast, I want to
invite you to join Entremd ondemand.
It is my signature subscriptionprogram that gives you access
to a library of business coursesdesigned to help you do one
thing as a physicianentrepreneur, and that is to
thrive.
Just head out to Entremdcomforward slash on demand and I'd

(17:24):
love to have you join us.
See you on the inside.
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