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What if losing everything was actually the beginning of your biggest breakthrough?
In this episode, I sit down with Dr. Prem Tripathi, a facial plastic surgeon in the East San Francisco Bay Area, who went from being let go from his employed position to building a private practice that hit seven figures in its first seven months. He shares the mindset, the strategy, and the exact moves that made it all possible.
Tune in and get inspired!
Key Takeaways:
- [0:00] Intro
- [0:52] Welcome & Introduction to Dr. Prem Tripathi
- [2:10] Why Get a Business Education While Still Employed?
- [4:45] The Moment Everything Changed: Being Let Go
- [9:55] From Job Loss to Launching a Practice
- [15:45] Top 3 Reasons for Success in Private Practice
- [22:10] Knowing When to Say No to Patients
- [25:30] Overcoming the Fear of Social Media
- [31:00] Building a Media Company Alongside Your Practice
- [34:20] How Entrepreneurship Changed His Relationship With Money
- [39:10] The Power of Investing in Yourself
- [41:21] Outro
Additional Resources:
- Learn more about my 12-month program.
- Interested in 1-on-1 coaching? Apply here.
- Grab a copy of the "The 7-Figure Physician CEO" book.
When you are ready to work with us, here are three ways:
- The Profitable Private Practice Movement - If you want to build a thriving private practice that serves a lot of patients, while creating time and financial freedom for you, come join us here.
- 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 ...
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_01 (00:00):
Investing in your team, giving them the tools to
be successful, that's gonna makeyou more money and give you more
time.
If I make more money, everybodymakes more money.
I don't mind paying my staff amillion dollars a year if
they're bringing in$5 million.
Patience and results are numberone, but profit is 1A.
SPEAKER_00 (00:17):
Hi, dogs.
Welcome to the OnCham D podcast,where it's all about helping
amazing physicians just like youembrace entrepreneurship so you
can have the freedom to livelife and practice medicine on
your terms.
I'm your host, Dr.
Inna.
Well, hello, hello, everyone.
(00:39):
Welcome to our very firstinterview in the eight-figure
physician CEO series, really.
And I am so excited because Ihave a good friend of mine here.
I guess I can call him that, Dr.
Prem Trapati.
He is absolutely amazing.
He has a wonderful story.
And I love talking with himbecause he's so generous with
his journey.
(00:59):
So this is one where I canalready promise you you're gonna
need to re-watch this.
But even before that, I want youto lean in.
I want you to have an open mind.
And this is a conversation thatreally five years from now, you
go back and say, Man, I waslistening to Dr.
Una and Dr.
Pram talk, and that was thebeginning of a new phase of my
journey.
So, Dr.
Pram, no pressure whatsoever,but welcome to the show.
SPEAKER_01 (01:20):
Thank you.
I appreciate it.
Thanks for having me.
I'm Dr.
Pram Trapathy.
I am a facial plastic surgeonbased in the East San Francisco
Bay Area.
So I have my own privatepractice that I started uh
officially in 2024 and uh was apreviously an employed
physician, um, now on my own.
I also um run a social mediabrand and am scaling my practice
(01:43):
now within you know two years.
And I was part of EBS from 2022to 2023, which sort of launched
this whole, this whole process.
So very excited to be here.
SPEAKER_00 (01:53):
When you joined the entre MD Business School, um you
were an employed physician.
Okay.
So the first question I have iswhat made you think of getting a
business education when you'restill an employed physician?
Why did you decide to do that?
SPEAKER_01 (02:08):
When you're employed, there's a lot of
things that you can control andprobably a lot more that you
can't, right?
So from the physicianstandpoint, I think we're all
equipped when we come out, atleast to start doing things
pretty comfortably.
But there are a lot of systemsin place that I just didn't
think were optimized to make thepractice flourish and scale.
(02:28):
And so I started listening tothe podcast at my wife's
pressure.
She said, you've got to listento this thing.
So I started listening to thepodcast and implementing a lot
of things that I would hear, youknow, your biggest spend in your
practices payroll, how to makethat optimized, um, how to
optimize systems, how to getinto the right mindset.
So once I realized that thosethings I could do, but it's much
(02:52):
harder when the team is notyours.
That's where I sort of figuredthat I need to go back home.
I need to go on on my ownbecause building the team was so
important to me.
Not that the employees were notgood.
We just weren't aligned both inmindset and in growth capacity.
So I figured if I can do thephysician part, which he said is
much harder, then there's noreason why I couldn't do the
(03:13):
business part.
But I didn't think that, youknow, the MBA route was the way
to go.
And so I wasn't interested ingetting another degree, but I
wanted both the mindset and theknowledge and sort of the
motivation and accountability todo my own thing.
And EBS was, you know, was thelaunching point.
SPEAKER_00 (03:29):
There are two things I want to point out here
because, you know, you're prettyremarkable.
And one is that way beforestarting your own practice,
you're like, I need to learnsome stuff.
Because one of the questions Iget a lot is I haven't started
yet.
Should I start doing this now?
I'm like, starting a practicedoes not make you an
entrepreneur.
Becoming an entrepreneur makesyou an entrepreneur, and that's
something that you figured out.
(03:50):
And then the other thing is thatyou really are a massive action
taker.
Like you were taking action fromthe podcast.
Of course, when you came intothe entree MD business school,
you're taking massive, massiveaction, which has created all
the results we're going to talkabout today.
But let's go to June of 2023.
I remember reaching out to you.
I'm like, okay, this is gonnaend up being one of the best
things that ever happened toyou.
(04:11):
And you were on the same pagewith that.
I want you to walk us throughthat moment because this is an
experience for many physicians.
It may look like the story thatyou had, it may look like a
different story, but just beingable to see how something can
seem devastating or really bador something like that, and then
it turns around to be one of thebest things that happens to you
if you play our cards right.
So, so talk to us about that.
SPEAKER_01 (04:32):
Again, I was an employed physician.
I was a partial partner in thegroup.
Um, but I showed up to work oneday and I was told that I was no
longer employed.
I wasn't given a reason why.
I thought to myself, okay, thisis terrible.
I'm gonna take my take my timeto grieve however long this
takes.
But the only difference thatseparates me from another
successful person is how longit's gonna take me to grieve
(04:52):
through this process.
And luckily, I had had um eighteight months in EBS and over a
year listening to the podcast,lots of things written down, the
mindset at least set.
So while this wasn't on mytimeline, I felt equipped to
take on the next journey.
And I had already startedgetting into the mix of looking
for a space and thinking aboutthe mission of the practice, but
(05:16):
nothing sort of drives you intohyper overdrive like a
devastating issue that's not onyour timeline.
So I took, I would say maybe aweek to think about it, get my
ducks in a row.
And then it was just pureaction, you know, lots of lists,
lots of prioritizing.
I think if I had not been inEBS, I would have created a
(05:36):
checklist that didn't prioritizethe biggest needle moving
events.
Um, but I felt very readymindset-wise to move on to the
next journey.
And obviously I got your phonecall, which helped a lot, that
it was going to be the bestthing.
And it was within six months.
And honestly, even though itwasn't on my timeline at the
moment, it was the best timebecause it gave me the
opportunity to do so much in thetime that I needed to get my
(06:01):
practice going.
It truly was the optimal timefor this to happen.
SPEAKER_00 (06:05):
Just imagine that, you know, six months from then,
a year from then, you'll be ableto say, Man, I wouldn't wish
that on my worst enemy, but thatwas the absolute best thing that
ever happened to me.
Because that's that's kind ofwhat happened to you.
In hindsight, what would you sayis the most valuable lesson that
process thought taught you?
SPEAKER_01 (06:22):
I think the one thing that I realized is it you
have to take a grieving period.
You have to sort of set yourselfstraight.
I couldn't just move on withoutat least thinking about what
went wrong and how to make itbetter.
But then I also the the timethat it's gonna take me to
recover, I also realized veryearly, cannot be lengthy.
It's just like blocking timeoff, right?
If you block time to get yourget your stuff together, you
(06:46):
have then the time that you knowyou're gonna move on to.
So if next Saturday I've decidedthat I'm gonna start taking
action, I can take the next fewdays to sort of get the things
in order and not have to thinkabout them.
So the time blocking, timeblocking grievance, I think is
important, but also just knowingthat you say this a lot.
We've done harder things.
We've done so many harderthings.
I've been through a surgicalresidency, I've been through a
(07:07):
surgical fellowship, applied tomedical school, all those things
that are orders of magnitudemore difficult in their both
stress level and time, timesuck.
And there were so many peoplearound me that had their own
businesses, right?
My gardener has his ownbusiness, my plumber has his own
business, my con, and all ofthese people are wildly
(07:27):
successful.
So I think we're told asphysicians that we can't be.
But I kept that that was theimportant thing also in my mind
to remember is why can't I dothis?
Um, and it had been a year, likeI said, of listening to the
podcast.
I felt very well equipped tosay, let me take my grievance
time and I'm gonna start withstart with this on day one.
SPEAKER_00 (07:45):
This is all important, but the the part
that's my favorite is the pieceof, you know, time block your
grieving.
Okay, so like grieve by allmeans, but this is your timeline
and let's keep it moving.
Love it.
Okay, so let's talk aboutbecause again, phenomenal story.
Let's talk about between whenyou're told you no longer have a
job to when you started seeingpatients in the new locations,
(08:07):
when you launched your practice,and then the milestones along
the way.
SPEAKER_01 (08:11):
This was end of June, so early July.
And my goal was to have thepractice started by December,
January.
Now that's obviously a loftygoal because I had barely found
a space to practice in, nothingwas built yet, but I still
needed a timeline by which toset everything.
So I set that timeline.
And the thing that I am glad Idid throughout the entire time
(08:33):
during that phase was continueto brand build, right?
I still said, I'm gonna makesocial media content every
single day.
Um, I don't have a team.
I'm just gonna set my camera upevery single day and post
something.
So that was helpful because Iwas getting quite a bit of
engagement during that time.
And then I said, I'm not gonnastop practicing or seeing
(08:54):
patients.
I just have to find a place todo it in the meantime.
So I did have a colleague in thearea that was nice enough to let
me use their space.
I got them outpractice for thatspace.
So at least I could keep myskills up.
But also during that time, Istudied how to make my practice
profitable from a mechanical andsort of like a systems process.
(09:14):
And I think that piece wasimportant because I had the
mindset and the mindset sort ofdrama creeps in throughout this,
but I had at least thefoundation to say, I'm gonna
continue to work on the mindset,but also now set up the
strategic part of setting upspecifically a plastic surgery
practice.
So that's what happened withinthe first six months.
And I made my first hire inNovember, December, and launched
(09:38):
the practice at the beginning ofthe year.
Many of the things I learnedfrom EBS were continue to build
that brand.
And how do I get the thing youtold me on day one of EBS is
we're gonna have you booked onday one of opening your
practice.
And so if that's the goal, thenI have to sort of reverse
engineer how that's gonnahappen, right?
Because at this point, althoughpeople know me, they didn't
(10:00):
really know me in the area.
So I continued to build thebrand, was reaching out to
people in the area, tried to goon podcasts.
And on my first day, I had abook of patience.
So I felt like I had my goal andI didn't spend hours on the logo
for my website.
I told the website company tomake my logo.
I didn't spend a ton of timefiguring out the cheapest chairs
(10:23):
to buy in my office.
It wasn't gonna save me thatmuch time or money.
But I put my 20% in the in thosehigh yield things and
prioritized my schedule that wayin those first five months
before I launched the practice.
And the first month was asix-figure month, which I did
not expect, but was happy tohave.
And it's been up since then.
(10:44):
We're now the goal this year,later, so now it's been two and
a half, two years.
The goal for Q3 of this year isseven figures a month, and we're
slowly approaching that.
The growth pattern you think isjust gonna slowly happen.
And it and it will happen if youdo the right things.
But when it's intentional,that's when I think the the
major growth happens, bothpersonally and professionally.
(11:06):
And that's what all of these,you know, all these things that
I've learned both in EBS and inthe podcast and just being
around the community is theintentionality was very
important.
So that is what I also did inthose first five months and
going forward.
SPEAKER_00 (11:18):
I love it.
Like, yeah, we're not gonnaspend time on the logo.
We're gonna spend time on this.
And and that really is thedifference between succeeding
and not succeeding and the speedat which we succeed, right?
And so think think about saying,oh, on for the first day I'm
gonna be booked, right?
And we've had many doctors dothat, and you did that, and
that's amazing.
Six figures in the first month.
(11:39):
We're two and a half years in,and we're like, we're working on
our first seven-figure month.
Love, I mean, you know, you knowhow much I love that.
Again, thank you for for sharingthis because it's important for
doctors to hear this, right?
And you may be listening to thisand you may have a because come
up.
It's because he is because he.
And I just want to invite you tonot do that, to have an open
(12:00):
mind and say, how could this bepossible for me?
How could a version of this bepossible for me?
Because really, Dr.
Pram, that's that's what youdid.
You could have said, no, thatdoesn't work for me.
And she doesn't understand me,she's a pediatrician or
whatever.
But you decided to take this andfigure out how to apply it in a
way that makes sense for yourpractice.
Now, over the last two and ahalf years, you and private
(12:20):
practice, if you were to lookback and say, these are the top
three reasons why I'msuccessful, what would those
reasons be?
SPEAKER_01 (12:28):
Prioritizing my team so that I could prioritize my
time.
I think that's really important.
I always repeat the things thatyou say, right?
One is too small a number forgreatness, and that you have to
lean into your team so that youcan do the things that you're
good at.
So, you know, constantly workingon that machine, I think is
super important because, youknow, my goal is to operate and
(12:50):
that's it.
I mean, I yes, I look at thePLs, but I don't want that to be
my primary goal.
I don't want to be the personsetting up the systems, although
I can be involved.
So getting to a point whereyou're offloading, and it's not
going to be in the beginning ofthe first day, but at least
setting that as a timeline or asa goal and the action steps that
it takes to get there, thatpiece was important to me.
And then the second one isreverse engineering, right?
(13:14):
So if your goal is a milliondollars and you want to see this
many patients, or you want to below ticket, high volume, or vice
versa, then you have to reverseengineer.
If my conversion rate is 50%, Ineed to see 80 consults and I
need to be able to hop betweenrooms to do this, that, and the
other.
That that piece is superimportant.
And that's strategic.
It isn't so much mindset.
(13:34):
It's it is very strategic inthat sense.
And then the last piece isactually investing in yourself.
So the investment in yourself, Ithink is the most challenging
because we're constantly metwith imposter syndrome.
Yes, it's more like, oh, he didthis and that, and I can't do
that.
And and we see that all thetime.
But one of the books we read inEBS, which I can't remember what
it was, was the only differencebetween like us and Bill Bill
(13:56):
Gates or Jeff Bezos is that theythought of it first.
They just did it first.
They were faster at doing it,right?
Selling books was not, is notnew, but they just were fast.
The belief that you can do thaton your own still still creeps
in.
You still don't believe itnecessarily.
But I do think that last pieceof investing in yourself and
really focusing on how you canoptimize your 20% while you
(14:19):
believe in yourself, that thatpiece is key.
It's a reminder every singleday.
SPEAKER_00 (14:23):
Love it.
I have a question for you.
Yeah.
When you hang out with yourfriends who are fellow plastic
surgeons, how many of theseconversations do you get to
have?
Low ticket, high volume,optimizing your team.
SPEAKER_01 (14:35):
So the first thing we have is you need to listen to
EBS.
And now all of them listen toEBS.
There's we have like our ownlittle pod, and then we have
these conversations all thetime.
I think because at least in ourindustry, you sort of attract a
certain clientele.
If you want to be, you know,producing, you know, really,
really busy, you can be verybusy, but not profitable.
(14:59):
That piece can slowly eat awayat your life.
We are building the dream lifeand the dream business together.
And so that starting that veryearly on and deciding who you're
gonna attract and who you'regonna serve, super important.
We talk about that all the time.
SPEAKER_00 (15:13):
One of the things we say is at on-train, the
on-trained business school helpsdoctors build profitable seven
to eight-figure businesses sothey have the freedom to live
life and practice medicine ontheir terms.
And we put profitable there onpurpose because you can have a
seven-figure business, a threemillion dollar business,$10
million business that is notprofitable.
And so you talked about beingbusy but not being profitable.
(15:36):
So for you, when you think aboutit, what do doctors need to do
to avoid that trap?
Because it's very common.
Woo talk to a doctor who's doingfour million in revenue and
they're doing low comes to paythemselves because they can't
pay themselves.
They can pay the team and coverthe overhead.
You see what I'm saying?
So what would you say to the docwho not even there, but to avoid
the trap?
SPEAKER_01 (15:55):
It sounds sort of like woo-woo, but you really
have to sit down with yourmission statement in the
beginning and decide like whatyour principles are for your
practice.
And from there, then reverseengineer what you want to take
home and really look at not justyour PLs, because once you're
looking at a PL, it's almost toolate to make a change.
You need to have set up thebusiness in such a way that
there are pivot points you canmake very early on.
(16:16):
And you unfortunately, you haveto set an hourly rate for
yourself and decide like this iswhat I feel like I can, I'm
worth and that I can, you know,because I'm good at what I do.
And that needs, you need to havea sort of benchmark.
If you're going through and yousee your overhead's 80%, then
you got to not necessarily cut.
Cause when you cut, you'recutting like$20 here and there.
(16:36):
You got to say, how do I makeall of my staff members X amount
more profitable?
That was the biggest step that Itook, you know, investing in
your team, giving them the toolsto be successful, because that's
gonna make you more money andgive you more time.
Patience and and results arenumber one, but profit is one A,
(16:57):
right?
It is, it is very, veryimportant.
It can't we can't they knowthat.
And so, and and if if I makemore money, they I mean if ever
everybody makes more money,right?
I don't mind paying my staff amillion dollars a year if
they're bringing in five milliondollars.
And so if everybody wins and wehave that good culture, then I I
definitely think that you canget yourself into a nice
situation.
(17:17):
And you have to, the second partis you have to be okay saying
no.
We say no every day.
If patients are not aligned withthat core mission, it's okay.
It there, there's plenty ofother people they can see and
we're happy to give thosereferrals to them.
But if you're looking for apatient that's price shopping,
for example, in plastic surgery,that's just not the type of
patient that we're looking for,which is totally understandable.
(17:37):
Nothing wrong with that.
But if that's not how you'vebuilt your practice and your
mission, then you have topolitely decline and be okay
with saying no.
It feels it feels terrible atfirst because you're trying to
get every, you know, you'retrying to make money, but you
have to live and die by thatmission statement.
Otherwise, you can get into anissue.
SPEAKER_00 (17:54):
For some doctors, you know, saying no to a
patient, yes, there's thethere's the financial
implication of it, but there'salso the part of we don't say
no.
How did you deal with that beingin a position where the moral
and ethical thing to do is tobless and release you to another
practice as opposed to acceptingyou into mine?
SPEAKER_01 (18:12):
I had a patient that booked surgery with me.
Mindset-wise, we were notaligned, in the sense that
either there was a little bit ofpushback, maybe some unrealistic
expectations.
And I just felt like there was apossibility that it was just not
going to turn out the way that Iwanted it to.
Politely declined.
I had already taken her moneyand I gave it all back.
And I said, I just don't thinkthat I'm the right surgeon for
(18:33):
you.
We can't be short-sighted.
So it's we're playing the longgame, right?
A business, a practice, yoursuccess, all of these are the
long game.
We're used to that.
And so now when we're done withtraining, we want that instant
gratification.
But if you're going for thatlong game, you have to be okay
with making game time decisionsthat affect you long term.
I was okay with that.
And now it's so much easier tosay no because I know there's
(18:55):
going to be that next patient orfive that are okay to come in.
And even though I've said no,I've still had patients send
their friends, send other peopleto me because they respect that
I said no sometimes.
That sometimes that that's allit takes.
It's very different when you'redealing with life and death
things, right?
We're not saying no to that.
We're not saying no to treatingpeople, but I do think there's
(19:17):
an aspect of that that'simportant for just building
brand building.
SPEAKER_00 (19:20):
It is.
And also for the the peace andquiet in your business, right?
So imagine if you did thesurgery for that person in
particular and it didn't turnout the way they had wanted it,
which you already knew was not arealistic expectation.
And then the drama that followsthat, right?
Now, when you introducedyourself, you did not just call
yourself a surgeon when youtalked about your business.
(19:41):
You didn't just say have aprivate practice.
You also talked about your mediacompany, if you will.
And this is fun because, youknow, I talk to physicians all
the time.
And I don't want to be on socialmedia, I don't want to do
YouTube, you know, I don't, Idon't have a face for the camera
and all of those kind of things.
And so let's track back to whenyou were on social media before
media company, right?
Did you ever have a fear ofbeing on camera or posting and
(20:04):
then the haters come for you?
Or, you know, I'm a physician,I'm a professional, I don't do
things like that.
Do you have any mindset dramaaround, you know, showing up on
social media in the beginning?
SPEAKER_01 (20:14):
I wanted my name everywhere.
I didn't want my faceeverywhere.
That's what everybody wants,right?
And it you cannot have onewithout the other.
Nowadays, we don't hand businesscards out, just hand business
cards out.
It just doesn't work that way.
The only way to get your nameout there is to get your face
out there.
And so, although it wasterrible, and when I look back
at those videos, I cringe.
(20:34):
I pushed myself to do thembecause your podcast, you said
we have an obligation to giveproper information.
We have an obligation to shareour knowledge with people.
So then it almost becomes like,you know, this is what I have to
do.
And my take on this was justdispelling misinformation on
social media.
And that became a brand.
(20:55):
And so I started talking moreabout what I do, things that
work and things that don't work.
And with every video, it got alittle easier.
And I still cringe and I stillsort of stop the video and
re-record them.
But better done than perfect,right?
Get it done.
I set my camera up, I spend 15,20 minutes and I'm done.
You don't know what video isgoing to take off.
And so the mind drama still isstill there, but I commit every
(21:18):
single day to shooting a video,at least one video a day,
because you can hand yourbusiness card out to 20 people,
or you can make a video that 500people see or 1 million people
see with the way algorithms worknow, that will find their way to
the right patient.
And even though you get videosthat are 20, 20 views, 100
views, when's the last time youspoke in an auditorium of 100
(21:41):
people, right?
There's a lot of that in thebeginning, but it works out.
SPEAKER_00 (21:44):
And so for you, was it more so the commitment?
Like, no matter how I feel, I'mgonna get this done.
Or did you also have some tricksand things you used to kind of
psych yourself to do it?
SPEAKER_01 (21:55):
I had a marketing person to help me with just like
setting up cameras and doingthat.
Stuff, but it was more so justlike get it done, like just set
it up and do it.
Because now we're not in the ageof curated, beautiful, gorgeous
videos anymore.
We're in the age of walk on thestreet while you're like working
(22:16):
out and record a video, andthat's what people see.
And so it's almost the easiesttime to get your videos out
there, right?
Those are the videos that I dothat do the best.
And the other piece of it isjust don't worry about the
vanity metrics.
I there are videos that I thatjust tank in my mind, but I have
patients that come in that say,Hey, I saw your video on XYZ,
and I don't even remember doingthat video because I no one saw
(22:39):
that video and I barely thoughtabout it.
So um, that vanity metric is so,so tricky.
Likes and follows are so, sounimportant.
They feel wonderful, but I couldget a people, I could get a
million people watching a videoand no one, no one walks in
through the door.
So while that helps the mediacompany, if I set that up, it
helps my business zero.
I do think realizing that yourface needs to be everywhere for
(23:02):
people to know who you are is isso key.
You can literally do that in aweek, right?
It takes time, but you can getyour face on three different
platforms.
Focus on one, but you can get iton three different platforms in
a day.
SPEAKER_00 (23:14):
And you talked about something I just want to
reiterate a little bit, and thatis the concept of vanity
metrics, right?
And you like I've had the sameexperience where you have one
video and everybody sees it, andokay, like maybe dopamine, maybe
whatever.
I still remember very vividly aday I posted a video and it had
one like.
And I was like, and what was thepoint of this?
(23:38):
But see, that person thenreached out to me and paid in
full to be a one-on-one client.
And I was like, I'll take theone like all day, every day, and
twice on Sunday.
Thank you very much.
Right.
And so we can't let the vanitymetric stop us from something
that is a very powerful tool inour businesses, right?
Like so, Dr.
Prem, when you think about it,and you may not have an exact
(24:00):
number or anything like that,but when you think about it,
what impact do you think yourpresence on social media has had
on the volume and the of thepatients you have and the
dollars you have in yourpractice?
SPEAKER_01 (24:13):
The vast majority of patients that walk in through
the door are patients fromsocial media.
And so we track everyone comingthrough the door.
This is not uncommon for peoplethat, you know, work that are in
social media, but I don't have athe biggest presence locally.
I have a much bigger presenceregionally and beyond.
I struggle to get the peoplethat are next door because maybe
(24:35):
they just don't see my content.
But the vast majority ofpatients come in through social
media.
I'm not even 10 years intopractice.
I have patients from around theworld.
I operated on someone from theUK.
It's powerful in that sense.
It will test your mindset everysingle time you get someone
through that.
Like, can I do this?
Right?
You still get imposter syndrome.
But it is by far the biggestgame changer that I have ever.
(25:01):
It is social media islife-changing.
It is not, it is no longer yourface in a picture.
It is truly, absolutelylife-changing.
It has changed the trajectory ofmy entire life, my net worth, my
family's life, allowed us to doso much more.
And it was me setting up acamera and doing videos, and
that's it.
And sharing the things that Italk about every day anyway.
SPEAKER_00 (25:24):
So for anyone who's like, I don't know, the reason I
had him share that is so you cansay, hang on, if this can change
the trajectory of my life, canchange my business, can change
my net worth.
If if he's saying the vastmajority of his patients came
from social media and he's goingtowards a million a month, maybe
I should think about it.
unknown (25:45):
Okay.
SPEAKER_00 (25:45):
Maybe I should think about it.
SPEAKER_01 (25:47):
Absolutely.
And the thing that you thatyou've always sort of drove home
is the no like and trust factor,right?
If they're following me onsocial media, they already know
like it, trust me.
A Google ad, it's great.
They never perform as well associal media posts.
So I tell, I tell otherphysicians, you could do a
surgery that you then spend yourprofits on for a Google ad, or
(26:10):
you could record a video and geta better quality patient and
your video took you 20 minutes.
I can't imagine your time isworth, your 20 minutes is worth
more than what you paid for thead.
So you just have to decide whatyour priority is.
And for me, that that was such apowerful brand building skill.
And it's always evolving.
So it's not like you can't dothat with the next new platform.
The next new platform comes in,and if you're first on there,
(26:33):
sky's the limit.
SPEAKER_00 (26:34):
Sky's the limit.
Yeah.
Now, at what point did you say,hey, I have been on social
media, but I want to think abouta media company?
Because I remember even in yourtime in EBS, if I remember
correctly, you even had a monthor something where you did six
figures in brand deals fromsocial media while you were
still employed.
And so at what point did youmake that transition to say I'm
(26:56):
gonna make this two for theprice of one, is gonna grow my
business and is going to be abusiness.
SPEAKER_01 (27:02):
I was slowly getting, you know, PR packages,
right?
Packages of like products frombrands.
Well, I'm very thankful forthem.
They're great.
At the end of the day, thebrands are trying to make money,
right?
So if they're trying to leveragemy audience to make money, then
why can't I do the same thingfor the videos that I already
make, right?
And not in a sleazy way.
I would never promote somethingI don't believe in or that I
(27:23):
haven't tried myself or that Idon't try my patients.
As that kind of grew, I rememberthe first time I got a patient
from TikTok.
I was, we all laughed in the inthe in the clinic because I
thought, this is so funny.
This is never going to happenagain.
And that's all we see, right?
That's every day now.
When that started happening,then I was then approached by,
and no need to be approached,you can contact them yourself, a
uh social media manager, thesemanagers that will help leverage
(27:46):
their name to reach out tobrands and see if you're
aligned.
And now I have that working inthe background.
I don't have to reach out toanybody.
I can have my team, they knowwho I am, they know what I stand
for, reach out to brands and getme brand deals if they work.
And so last year I got to go toParis for a brand trip and got
paid, got to take my wife.
(28:08):
I got to go to Korea.
These are all based onconnections and partnerships
that I wouldn't have madewithout social media and without
forcing myself to get out thereand talk to people.
So those are life-changingopportunities, life-changing
trips, and they're alreadyaligned with what I do.
And so as that starts to grow,you realize that your audience
(28:28):
is very important.
They're the people that made youwho you are, but also brands
want to leverage that audience.
No matter what field you're in,you know, if influencers can
make a million dollars a month,there's no reason why a
physician cannot make a milliondollars a month doing brand
partnerships.
SPEAKER_00 (28:45):
Love the way you think.
And yes, going to going withyour wife to Paris and the trip
was paid and you got paid.
I think that that's a good deal.
Absolutely.
I think that's life-changing.
We talk a lot, and you mentionedthis about the dream business
and the dream life.
And I find for a lot ofphysicians, we're not
necessarily motivated by money.
(29:06):
Like, yes, we understand moneyis important, but it doesn't
make us jump out of bed and doimpossible things.
So I talk about money as much asI do because we don't talk about
money at all.
I'm like, okay, we have to havethis conversation, but it's not
quite the motivation.
But I tell people the mostvaluable thing from being an
entrepreneur is the person youbecome.
And second to that is the lifeyou're able to create.
(29:29):
So for you, when you think aboutit, what is entrepreneurship
made possible for you?
SPEAKER_01 (29:35):
Your podcast really changed my relationship with
money, but the way I think aboutmoney and the way I teach my
kids about money because they'reyoung, is it's a game, right?
Everybody is playing the gamevery differently.
I view money as just my way tobuy back time, right?
So I want time with my family.
I don't want to be trading timefor money every single day.
(29:58):
And so that is the mostimportant facet and gameplay I
have for money.
If you like buying luxury goodsand handbags and cars, go for
it.
I mean, if that's how you wantto, uh if that's how you want to
spend your money, there'snothing wrong with that.
That's amazing.
But for me, that changed myrelationship.
So once I realized, okay, I wantthat to just work for me for
(30:19):
time, but also I want to bespending time on vacation and
not have to think about buyingthat extra meal or taking
business class or whatever thecase may be, then there's
there's just certain things youhave to do to get there.
And every other industry thinksabout money, but we are sort of
like shunned because we helppeople.
(30:40):
And I just think about myattorneys sending me a bill
after like an email that I sendto them, right?
And I just like that just killsme.
And so why can't we share ourknowledge, help people to the
highest capacity, and be giventhe freedom to live our lives
comfortably?
In that regard, changing therelationship with money and
(31:00):
realizing you're not a sleazysalesperson, you're actually
helping people.
That was a big eye-opening thingto think about.
And now I have no problemstalking about money.
If we don't do well in a month,great, let's talk about money
and figure out how to how to dobetter.
And it also helps other peoplethat are struggling to figure
out if you don't have a lot, youcan do this with it.
That part is very important.
SPEAKER_00 (31:20):
100%.
Now you talked about teachingyour kids.
And so you brought this up.
And I want to ask this questionbecause a lot of people shy away
from entrepreneurship becausethey think it will rob them as
far as their relationship withtheir family goes.
They think it will hurt theirkids because they won't be as
available.
And for me, my experience hasbeen that entrepreneurship, like
(31:42):
you described, has given me mytime back.
I homeschool my kids and I don'trecommend it.
I just that's what I wanted todo.
So I'm able to do it.
I'm able to spend time withthem, I'm able to go on vacation
with them, I'm able to involvethem in the business is part of
their curriculum and all ofthose things.
And like you, I get to teachthem the things that we just
didn't learn.
You know, for a physician, wearguably have the best education
(32:04):
in the world, if you can thinkabout it.
And then to think that you thencome out and you don't know
anything about personal finance,you don't know about leadership,
you don't know about money,running businesses, speaking,
you're afraid of showing up onsocial media, it's just
ridiculous.
And I'm like, okay, why don't wejust be proactive and teach you
all those things now?
Right.
And so, you know, for you, beingan entrepreneur, towing this
(32:25):
path, learning these things,transforming so much, how has
that impacted your family?
SPEAKER_01 (32:31):
I remember before I started the practice, I posted
on the Facebook group, I'm gonnatake out this giant loan.
I have like a momentaryfreakout.
Am I not gonna be able to spendtime with my three young
children?
Is this a bad idea?
You also mentioned, and thishappened, right?
The people in your life willalso sort of start to say that
because it's coming from a placeof love.
What you realize too is you cantime block the time you spend on
(32:53):
your business and time block thetime you spend with your family.
And so even though my thoughtwas I'm going to, you know,
spend a whole bunch of time,yes, you have to do the work, of
course, but you you are settingyourself up for more time.
So in 2027, my goal is to take amonth off with my kids during
the summer and do that everyyear.
(33:14):
I could never have imagineddoing that otherwise.
And now my wife, who also works,could never have imagined doing
that otherwise.
But we're given that option nowthat I don't have to be in the
office for a month.
If I was a physician in anemployed group, which is fine,
which is great, I couldn't dothat.
I learned the line thatphysicians are the working
wealthy, right?
(33:34):
We're wealthy when we work, butwhen we're not, if we're not
given those tools, it's verydifficult.
So what you don't realize againis the sort of short-sightedness
that we've never had asphysicians, we can't have as
sort of entrepreneurs, right?
We have to think about what thatlong game is.
And it doesn't have to be 10years, it doesn't have to be
five years, it can be one year.
So I actually ended up getting amillion-dollar loan, actually
(33:57):
more, 1.25 million, so doublewhat I thought it would be.
And if I wanted to, by the endof the year of my first year, I
could have paid that loan offall completely and still paid
myself.
So never would have thought thatwould be possible.
But it wasn't the stress that Ithought it would be.
It was much, much moreattainable.
And for my children, they got tosee me build a business.
(34:18):
I got to help them ask me whatlogo should I pick?
What furniture should I have?
They got to come to my officewhen it wasn't built and see it
get built.
And involving them in that, itsort of gives them those tools.
And we have little likechildren's books about money,
which I wouldn't have done if Iwasn't an entrepreneur.
So while it may feel like you'retaking time away, if you can
time block it, involve them, andrealize how it will buy you back
(34:41):
time, you will have more timewith them than you could
imagine.
SPEAKER_00 (34:44):
You're giving them a business education, right?
And and it's happening casually,like they don't even know that
they're in business school.
Right.
My my daughter is um my first,she's 17 now.
She has her own podcast, theProfitable Private Practice
Podcast, interviewing dogs fromthe business school.
She's part of the business.
She has aspects that she runs.
She speaks confidently on stage.
(35:05):
Her dad's birthday was a weekago, and she was on stage with,
you know, about 700 people inthe building and just rocked it
because she doesn't know anybetter.
Like she doesn't know she shouldbe afraid of speaking.
Right.
Absolutely.
That's pretty wild.
Now, when you think aboutprivate practice for the
physician community and thechallenges that people have and
(35:26):
all that, first of all, what doyou notice are the unique
challenges, you know?
And if you could give them onemessage, what would that be?
SPEAKER_01 (35:35):
One very unique challenge that I think all
business owners have is hiringstaff, right?
So it's difficult to hire staffthat meet your expectation
because we have highexpectations.
It's also difficult to keepstaff once you train them.
But I think if you invest inyour team, both invest in
yourself from a leadershipstandpoint and invest in the
(35:55):
team from an educationaltraining standpoint, and you
take accountability for thingsthat go wrong because it's
eventually it's essentially yourresponsibility.
That piece is super important.
You know, I have colleagues thathave a rotating carousel of
employees.
And that was always my goal tonot have that, right?
To take employees and move themup within the company if they
want to be there.
(36:16):
And if not, then help them foron their next journey.
I think that piece is superimportant.
And again, it's not a knowledgeor or practical skill that we're
we're given, but I do thinkthat's one of the most important
because your team essentially isyour money, your team is your
time, your team is everything.
And that investment is superimportant.
And I think it starts from itobviously starts from the top.
SPEAKER_00 (36:37):
Now, one thing that comes up a lot with doctors is
around investing ourselves.
I think it's a, for some reason,it's a weird concept.
Even though we invested$250,000or so for our medical education,
but that just seems different.
It's like college or somethinglike that.
But I want you to speak a littlebit, you've talked about it, but
a little bit too the power ofinvesting in yourself so you can
(37:01):
become the person that makesyour results possible.
SPEAKER_01 (37:04):
It is a tough pill to swallow when you come out of
training, when you have debt, tothink that your next step is
going to involve a big chunk ofchange.
Because you in your mind, youhave this when I'm done, I will
be making six figures and I willbe happy.
But that rarely ever happens,right?
It's not the money that makesyou happy.
I think that piece we've donefor 15 years, right?
(37:27):
We've done the investment inourselves in exchange for the
education.
If we're now expected to start abusiness and be an entrepreneur,
it is very difficult.
It is no longer a practicalskill.
It is no longer just strategy,right?
It is starts way back fromreaching into your brain and
saying, you need to tellyourself that you actually can
(37:47):
do this and rewiring your wholehead.
That is difficult.
And once you once I realizedthat that was much more
difficult than dropping money toinvest in myself, it was it was
much easier to do.
When I joined EBS, it didn'tseem like a big investment
monetarily because I knew it wasgoing to be such an amazing
payoff.
And now I pay consultants 10 to15k a month because the ROI on
(38:11):
it is 10 to 15 times that permonth.
And I never would have expectedto pay people that much money,
right?
But that is truly an investmentin my business and in myself.
And we're always looking for thefastest ROI.
But again, it it is thatlong-term game.
And and we you have to learnpre-algebra before you do
algebra.
But when you come out of medicalschool, you don't have that
(38:34):
mindset knowledge.
I didn't have the leadershipknowledge.
I didn't have any of that.
I felt like I needed that themost in order to get to my next
step.
And so it is, it was never aquestion of how do I invest in
myself?
It was never a question aboutthe money because I knew it
needed to be done.
And once you realize that ROIcomes in so many different ways:
(38:54):
time, money, energy, happiness,it's so much easier to swallow.
Because truly the biggest ROII've ever had has not been my
real estate investments, notbeen crypto or any, it's been
investing in myself.
So I had a friend who alsostarted his practice at the same
time.
We listen to your podcast everyweek and talk about it.
And same thing.
I said, he built amillion-dollar business in his
(39:16):
plastic surgery in a year, yearand a half.
I said, what other investmenthave you ever done that has
given you this much time, money,and freedom?
None, but investing in yourself.
So I convinced him to leave hisemployed physician job and start
his own practice.
And so these things are, Ithink, like you don't realize it
at first, but it's invaluable.
That is the most importantthing.
SPEAKER_00 (39:37):
That is the most important thing.
And I'm I'm in the same campwith you.
So, and if you're if you'relistening to this and you want
to, you know, find out howentreamd can support you on your
journey, then just reach out andbook a call with my team,
entreamd.com forward slash call.
It's no pressure.
We don't do pressure, we don'tdo any of that.
It's just to see if you want toinvest in yourself, if we're the
(39:58):
right fit.
So yeah.
Dr.
Prem, where can people find you?
And if you're watching this, hegave us like 72,000
masterclasses.
So you need to go follow him andyou need to go support his work.
So where do people find you?
SPEAKER_01 (40:10):
Yeah, so you can find me and my handle is uh at
D-R, so Dr.
Prem Trapathy, P-R E M T R I P AT H I.
And that's on Instagram andTikTok.
You can also email me.
It's PremBtrapathy at gmail.com.
Always available to chat or, youknow, talk things through.
(40:31):
I think like the communityaspect is super important.
You know, none of us are goingthrough this alone and none of
us have this.
It's just like parenting.
You're not like you feel likeyou're in a silo, but you're
not.
Everybody's going through thesame thing.
Definitely please, pleasecontact me.
SPEAKER_00 (40:44):
That is awesome.
All right.
So you know where to find him.
I will put that in the shownotes as well.
Dr.
Prem, I want to say thank you somuch for your time.
Because of course, you're, youknow, you're doing what you do,
but thank you for taking out thetime to do this interview.
And I really want to say thankyou as well for being so open
about your journey, the trials,the triumphs, the wins, because
(41:05):
there's so many people who seethemselves in a story and change
their lives because of it.
So thank you.
Absolutely.
Happy to be here.
All right, people.
We'll see you on the nextepisode of the Ontario Podcast.
Investing in your team, giving them the tools to
be successful, that's gonna makeyou more money and give you more
time.
If I make more money, everybodymakes more money.
I don't mind paying my staff amillion dollars a year if
they're bringing in$5 million.
Patience and results are numberone, but profit is 1A.
SPEAKER_00 (00:17):
Hi, dogs.
Welcome to the OnCham D podcast,where it's all about helping
amazing physicians just like youembrace entrepreneurship so you
can have the freedom to livelife and practice medicine on
your terms.
I'm your host, Dr.
Inna.
Well, hello, hello, everyone.
(00:39):
Welcome to our very firstinterview in the eight-figure
physician CEO series, really.
And I am so excited because Ihave a good friend of mine here.
I guess I can call him that, Dr.
Prem Trapati.
He is absolutely amazing.
He has a wonderful story.
And I love talking with himbecause he's so generous with
his journey.
(00:59):
So this is one where I canalready promise you you're gonna
need to re-watch this.
But even before that, I want youto lean in.
I want you to have an open mind.
And this is a conversation thatreally five years from now, you
go back and say, Man, I waslistening to Dr.
Una and Dr.
Pram talk, and that was thebeginning of a new phase of my
journey.
So, Dr.
Pram, no pressure whatsoever,but welcome to the show.
SPEAKER_01 (01:20):
Thank you.
I appreciate it.
Thanks for having me.
I'm Dr.
Pram Trapathy.
I am a facial plastic surgeonbased in the East San Francisco
Bay Area.
So I have my own privatepractice that I started uh
officially in 2024 and uh was apreviously an employed
physician, um, now on my own.
I also um run a social mediabrand and am scaling my practice
(01:43):
now within you know two years.
And I was part of EBS from 2022to 2023, which sort of launched
this whole, this whole process.
So very excited to be here.
SPEAKER_00 (01:53):
When you joined the entre MD Business School, um you
were an employed physician.
Okay.
So the first question I have iswhat made you think of getting a
business education when you'restill an employed physician?
Why did you decide to do that?
SPEAKER_01 (02:08):
When you're employed, there's a lot of
things that you can control andprobably a lot more that you
can't, right?
So from the physicianstandpoint, I think we're all
equipped when we come out, atleast to start doing things
pretty comfortably.
But there are a lot of systemsin place that I just didn't
think were optimized to make thepractice flourish and scale.
(02:28):
And so I started listening tothe podcast at my wife's
pressure.
She said, you've got to listento this thing.
So I started listening to thepodcast and implementing a lot
of things that I would hear, youknow, your biggest spend in your
practices payroll, how to makethat optimized, um, how to
optimize systems, how to getinto the right mindset.
So once I realized that thosethings I could do, but it's much
(02:52):
harder when the team is notyours.
That's where I sort of figuredthat I need to go back home.
I need to go on on my ownbecause building the team was so
important to me.
Not that the employees were notgood.
We just weren't aligned both inmindset and in growth capacity.
So I figured if I can do thephysician part, which he said is
much harder, then there's noreason why I couldn't do the
(03:13):
business part.
But I didn't think that, youknow, the MBA route was the way
to go.
And so I wasn't interested ingetting another degree, but I
wanted both the mindset and theknowledge and sort of the
motivation and accountability todo my own thing.
And EBS was, you know, was thelaunching point.
SPEAKER_00 (03:29):
There are two things I want to point out here
because, you know, you're prettyremarkable.
And one is that way beforestarting your own practice,
you're like, I need to learnsome stuff.
Because one of the questions Iget a lot is I haven't started
yet.
Should I start doing this now?
I'm like, starting a practicedoes not make you an
entrepreneur.
Becoming an entrepreneur makesyou an entrepreneur, and that's
something that you figured out.
(03:50):
And then the other thing is thatyou really are a massive action
taker.
Like you were taking action fromthe podcast.
Of course, when you came intothe entree MD business school,
you're taking massive, massiveaction, which has created all
the results we're going to talkabout today.
But let's go to June of 2023.
I remember reaching out to you.
I'm like, okay, this is gonnaend up being one of the best
things that ever happened toyou.
(04:11):
And you were on the same pagewith that.
I want you to walk us throughthat moment because this is an
experience for many physicians.
It may look like the story thatyou had, it may look like a
different story, but just beingable to see how something can
seem devastating or really bador something like that, and then
it turns around to be one of thebest things that happens to you
if you play our cards right.
So, so talk to us about that.
SPEAKER_01 (04:32):
Again, I was an employed physician.
I was a partial partner in thegroup.
Um, but I showed up to work oneday and I was told that I was no
longer employed.
I wasn't given a reason why.
I thought to myself, okay, thisis terrible.
I'm gonna take my take my timeto grieve however long this
takes.
But the only difference thatseparates me from another
successful person is how longit's gonna take me to grieve
(04:52):
through this process.
And luckily, I had had um eighteight months in EBS and over a
year listening to the podcast,lots of things written down, the
mindset at least set.
So while this wasn't on mytimeline, I felt equipped to
take on the next journey.
And I had already startedgetting into the mix of looking
for a space and thinking aboutthe mission of the practice, but
(05:16):
nothing sort of drives you intohyper overdrive like a
devastating issue that's not onyour timeline.
So I took, I would say maybe aweek to think about it, get my
ducks in a row.
And then it was just pureaction, you know, lots of lists,
lots of prioritizing.
I think if I had not been inEBS, I would have created a
(05:36):
checklist that didn't prioritizethe biggest needle moving
events.
Um, but I felt very readymindset-wise to move on to the
next journey.
And obviously I got your phonecall, which helped a lot, that
it was going to be the bestthing.
And it was within six months.
And honestly, even though itwasn't on my timeline at the
moment, it was the best timebecause it gave me the
opportunity to do so much in thetime that I needed to get my
(06:01):
practice going.
It truly was the optimal timefor this to happen.
SPEAKER_00 (06:05):
Just imagine that, you know, six months from then,
a year from then, you'll be ableto say, Man, I wouldn't wish
that on my worst enemy, but thatwas the absolute best thing that
ever happened to me.
Because that's that's kind ofwhat happened to you.
In hindsight, what would you sayis the most valuable lesson that
process thought taught you?
SPEAKER_01 (06:22):
I think the one thing that I realized is it you
have to take a grieving period.
You have to sort of set yourselfstraight.
I couldn't just move on withoutat least thinking about what
went wrong and how to make itbetter.
But then I also the the timethat it's gonna take me to
recover, I also realized veryearly, cannot be lengthy.
It's just like blocking timeoff, right?
If you block time to get yourget your stuff together, you
(06:46):
have then the time that you knowyou're gonna move on to.
So if next Saturday I've decidedthat I'm gonna start taking
action, I can take the next fewdays to sort of get the things
in order and not have to thinkabout them.
So the time blocking, timeblocking grievance, I think is
important, but also just knowingthat you say this a lot.
We've done harder things.
We've done so many harderthings.
I've been through a surgicalresidency, I've been through a
(07:07):
surgical fellowship, applied tomedical school, all those things
that are orders of magnitudemore difficult in their both
stress level and time, timesuck.
And there were so many peoplearound me that had their own
businesses, right?
My gardener has his ownbusiness, my plumber has his own
business, my con, and all ofthese people are wildly
(07:27):
successful.
So I think we're told asphysicians that we can't be.
But I kept that that was theimportant thing also in my mind
to remember is why can't I dothis?
Um, and it had been a year, likeI said, of listening to the
podcast.
I felt very well equipped tosay, let me take my grievance
time and I'm gonna start withstart with this on day one.
SPEAKER_00 (07:45):
This is all important, but the the part
that's my favorite is the pieceof, you know, time block your
grieving.
Okay, so like grieve by allmeans, but this is your timeline
and let's keep it moving.
Love it.
Okay, so let's talk aboutbecause again, phenomenal story.
Let's talk about between whenyou're told you no longer have a
job to when you started seeingpatients in the new locations,
(08:07):
when you launched your practice,and then the milestones along
the way.
SPEAKER_01 (08:11):
This was end of June, so early July.
And my goal was to have thepractice started by December,
January.
Now that's obviously a loftygoal because I had barely found
a space to practice in, nothingwas built yet, but I still
needed a timeline by which toset everything.
So I set that timeline.
And the thing that I am glad Idid throughout the entire time
(08:33):
during that phase was continueto brand build, right?
I still said, I'm gonna makesocial media content every
single day.
Um, I don't have a team.
I'm just gonna set my camera upevery single day and post
something.
So that was helpful because Iwas getting quite a bit of
engagement during that time.
And then I said, I'm not gonnastop practicing or seeing
(08:54):
patients.
I just have to find a place todo it in the meantime.
So I did have a colleague in thearea that was nice enough to let
me use their space.
I got them outpractice for thatspace.
So at least I could keep myskills up.
But also during that time, Istudied how to make my practice
profitable from a mechanical andsort of like a systems process.
(09:14):
And I think that piece wasimportant because I had the
mindset and the mindset sort ofdrama creeps in throughout this,
but I had at least thefoundation to say, I'm gonna
continue to work on the mindset,but also now set up the
strategic part of setting upspecifically a plastic surgery
practice.
So that's what happened withinthe first six months.
And I made my first hire inNovember, December, and launched
(09:38):
the practice at the beginning ofthe year.
Many of the things I learnedfrom EBS were continue to build
that brand.
And how do I get the thing youtold me on day one of EBS is
we're gonna have you booked onday one of opening your
practice.
And so if that's the goal, thenI have to sort of reverse
engineer how that's gonnahappen, right?
Because at this point, althoughpeople know me, they didn't
(10:00):
really know me in the area.
So I continued to build thebrand, was reaching out to
people in the area, tried to goon podcasts.
And on my first day, I had abook of patience.
So I felt like I had my goal andI didn't spend hours on the logo
for my website.
I told the website company tomake my logo.
I didn't spend a ton of timefiguring out the cheapest chairs
(10:23):
to buy in my office.
It wasn't gonna save me thatmuch time or money.
But I put my 20% in the in thosehigh yield things and
prioritized my schedule that wayin those first five months
before I launched the practice.
And the first month was asix-figure month, which I did
not expect, but was happy tohave.
And it's been up since then.
(10:44):
We're now the goal this year,later, so now it's been two and
a half, two years.
The goal for Q3 of this year isseven figures a month, and we're
slowly approaching that.
The growth pattern you think isjust gonna slowly happen.
And it and it will happen if youdo the right things.
But when it's intentional,that's when I think the the
major growth happens, bothpersonally and professionally.
(11:06):
And that's what all of these,you know, all these things that
I've learned both in EBS and inthe podcast and just being
around the community is theintentionality was very
important.
So that is what I also did inthose first five months and
going forward.
SPEAKER_00 (11:18):
I love it.
Like, yeah, we're not gonnaspend time on the logo.
We're gonna spend time on this.
And and that really is thedifference between succeeding
and not succeeding and the speedat which we succeed, right?
And so think think about saying,oh, on for the first day I'm
gonna be booked, right?
And we've had many doctors dothat, and you did that, and
that's amazing.
Six figures in the first month.
(11:39):
We're two and a half years in,and we're like, we're working on
our first seven-figure month.
Love, I mean, you know, you knowhow much I love that.
Again, thank you for for sharingthis because it's important for
doctors to hear this, right?
And you may be listening to thisand you may have a because come
up.
It's because he is because he.
And I just want to invite you tonot do that, to have an open
(12:00):
mind and say, how could this bepossible for me?
How could a version of this bepossible for me?
Because really, Dr.
Pram, that's that's what youdid.
You could have said, no, thatdoesn't work for me.
And she doesn't understand me,she's a pediatrician or
whatever.
But you decided to take this andfigure out how to apply it in a
way that makes sense for yourpractice.
Now, over the last two and ahalf years, you and private
(12:20):
practice, if you were to lookback and say, these are the top
three reasons why I'msuccessful, what would those
reasons be?
SPEAKER_01 (12:28):
Prioritizing my team so that I could prioritize my
time.
I think that's really important.
I always repeat the things thatyou say, right?
One is too small a number forgreatness, and that you have to
lean into your team so that youcan do the things that you're
good at.
So, you know, constantly workingon that machine, I think is
super important because, youknow, my goal is to operate and
(12:50):
that's it.
I mean, I yes, I look at thePLs, but I don't want that to be
my primary goal.
I don't want to be the personsetting up the systems, although
I can be involved.
So getting to a point whereyou're offloading, and it's not
going to be in the beginning ofthe first day, but at least
setting that as a timeline or asa goal and the action steps that
it takes to get there, thatpiece was important to me.
And then the second one isreverse engineering, right?
(13:14):
So if your goal is a milliondollars and you want to see this
many patients, or you want to below ticket, high volume, or vice
versa, then you have to reverseengineer.
If my conversion rate is 50%, Ineed to see 80 consults and I
need to be able to hop betweenrooms to do this, that, and the
other.
That that piece is superimportant.
And that's strategic.
It isn't so much mindset.
(13:34):
It's it is very strategic inthat sense.
And then the last piece isactually investing in yourself.
So the investment in yourself, Ithink is the most challenging
because we're constantly metwith imposter syndrome.
Yes, it's more like, oh, he didthis and that, and I can't do
that.
And and we see that all thetime.
But one of the books we read inEBS, which I can't remember what
it was, was the only differencebetween like us and Bill Bill
(13:56):
Gates or Jeff Bezos is that theythought of it first.
They just did it first.
They were faster at doing it,right?
Selling books was not, is notnew, but they just were fast.
The belief that you can do thaton your own still still creeps
in.
You still don't believe itnecessarily.
But I do think that last pieceof investing in yourself and
really focusing on how you canoptimize your 20% while you
(14:19):
believe in yourself, that thatpiece is key.
It's a reminder every singleday.
SPEAKER_00 (14:23):
Love it.
I have a question for you.
Yeah.
When you hang out with yourfriends who are fellow plastic
surgeons, how many of theseconversations do you get to
have?
Low ticket, high volume,optimizing your team.
SPEAKER_01 (14:35):
So the first thing we have is you need to listen to
EBS.
And now all of them listen toEBS.
There's we have like our ownlittle pod, and then we have
these conversations all thetime.
I think because at least in ourindustry, you sort of attract a
certain clientele.
If you want to be, you know,producing, you know, really,
really busy, you can be verybusy, but not profitable.
(14:59):
That piece can slowly eat awayat your life.
We are building the dream lifeand the dream business together.
And so that starting that veryearly on and deciding who you're
gonna attract and who you'regonna serve, super important.
We talk about that all the time.
SPEAKER_00 (15:13):
One of the things we say is at on-train, the
on-trained business school helpsdoctors build profitable seven
to eight-figure businesses sothey have the freedom to live
life and practice medicine ontheir terms.
And we put profitable there onpurpose because you can have a
seven-figure business, a threemillion dollar business,$10
million business that is notprofitable.
And so you talked about beingbusy but not being profitable.
(15:36):
So for you, when you think aboutit, what do doctors need to do
to avoid that trap?
Because it's very common.
Woo talk to a doctor who's doingfour million in revenue and
they're doing low comes to paythemselves because they can't
pay themselves.
They can pay the team and coverthe overhead.
You see what I'm saying?
So what would you say to the docwho not even there, but to avoid
the trap?
SPEAKER_01 (15:55):
It sounds sort of like woo-woo, but you really
have to sit down with yourmission statement in the
beginning and decide like whatyour principles are for your
practice.
And from there, then reverseengineer what you want to take
home and really look at not justyour PLs, because once you're
looking at a PL, it's almost toolate to make a change.
You need to have set up thebusiness in such a way that
there are pivot points you canmake very early on.
(16:16):
And you unfortunately, you haveto set an hourly rate for
yourself and decide like this iswhat I feel like I can, I'm
worth and that I can, you know,because I'm good at what I do.
And that needs, you need to havea sort of benchmark.
If you're going through and yousee your overhead's 80%, then
you got to not necessarily cut.
Cause when you cut, you'recutting like$20 here and there.
(16:36):
You got to say, how do I makeall of my staff members X amount
more profitable?
That was the biggest step that Itook, you know, investing in
your team, giving them the toolsto be successful, because that's
gonna make you more money andgive you more time.
Patience and and results arenumber one, but profit is one A,
(16:57):
right?
It is, it is very, veryimportant.
It can't we can't they knowthat.
And so, and and if if I makemore money, they I mean if ever
everybody makes more money,right?
I don't mind paying my staff amillion dollars a year if
they're bringing in five milliondollars.
And so if everybody wins and wehave that good culture, then I I
definitely think that you canget yourself into a nice
situation.
(17:17):
And you have to, the second partis you have to be okay saying
no.
We say no every day.
If patients are not aligned withthat core mission, it's okay.
It there, there's plenty ofother people they can see and
we're happy to give thosereferrals to them.
But if you're looking for apatient that's price shopping,
for example, in plastic surgery,that's just not the type of
patient that we're looking for,which is totally understandable.
(17:37):
Nothing wrong with that.
But if that's not how you'vebuilt your practice and your
mission, then you have topolitely decline and be okay
with saying no.
It feels it feels terrible atfirst because you're trying to
get every, you know, you'retrying to make money, but you
have to live and die by thatmission statement.
Otherwise, you can get into anissue.
SPEAKER_00 (17:54):
For some doctors, you know, saying no to a
patient, yes, there's thethere's the financial
implication of it, but there'salso the part of we don't say
no.
How did you deal with that beingin a position where the moral
and ethical thing to do is tobless and release you to another
practice as opposed to acceptingyou into mine?
SPEAKER_01 (18:12):
I had a patient that booked surgery with me.
Mindset-wise, we were notaligned, in the sense that
either there was a little bit ofpushback, maybe some unrealistic
expectations.
And I just felt like there was apossibility that it was just not
going to turn out the way that Iwanted it to.
Politely declined.
I had already taken her moneyand I gave it all back.
And I said, I just don't thinkthat I'm the right surgeon for
(18:33):
you.
We can't be short-sighted.
So it's we're playing the longgame, right?
A business, a practice, yoursuccess, all of these are the
long game.
We're used to that.
And so now when we're done withtraining, we want that instant
gratification.
But if you're going for thatlong game, you have to be okay
with making game time decisionsthat affect you long term.
I was okay with that.
And now it's so much easier tosay no because I know there's
(18:55):
going to be that next patient orfive that are okay to come in.
And even though I've said no,I've still had patients send
their friends, send other peopleto me because they respect that
I said no sometimes.
That sometimes that that's allit takes.
It's very different when you'redealing with life and death
things, right?
We're not saying no to that.
We're not saying no to treatingpeople, but I do think there's
(19:17):
an aspect of that that'simportant for just building
brand building.
SPEAKER_00 (19:20):
It is.
And also for the the peace andquiet in your business, right?
So imagine if you did thesurgery for that person in
particular and it didn't turnout the way they had wanted it,
which you already knew was not arealistic expectation.
And then the drama that followsthat, right?
Now, when you introducedyourself, you did not just call
yourself a surgeon when youtalked about your business.
(19:41):
You didn't just say have aprivate practice.
You also talked about your mediacompany, if you will.
And this is fun because, youknow, I talk to physicians all
the time.
And I don't want to be on socialmedia, I don't want to do
YouTube, you know, I don't, Idon't have a face for the camera
and all of those kind of things.
And so let's track back to whenyou were on social media before
media company, right?
Did you ever have a fear ofbeing on camera or posting and
(20:04):
then the haters come for you?
Or, you know, I'm a physician,I'm a professional, I don't do
things like that.
Do you have any mindset dramaaround, you know, showing up on
social media in the beginning?
SPEAKER_01 (20:14):
I wanted my name everywhere.
I didn't want my faceeverywhere.
That's what everybody wants,right?
And it you cannot have onewithout the other.
Nowadays, we don't hand businesscards out, just hand business
cards out.
It just doesn't work that way.
The only way to get your nameout there is to get your face
out there.
And so, although it wasterrible, and when I look back
at those videos, I cringe.
(20:34):
I pushed myself to do thembecause your podcast, you said
we have an obligation to giveproper information.
We have an obligation to shareour knowledge with people.
So then it almost becomes like,you know, this is what I have to
do.
And my take on this was justdispelling misinformation on
social media.
And that became a brand.
(20:55):
And so I started talking moreabout what I do, things that
work and things that don't work.
And with every video, it got alittle easier.
And I still cringe and I stillsort of stop the video and
re-record them.
But better done than perfect,right?
Get it done.
I set my camera up, I spend 15,20 minutes and I'm done.
You don't know what video isgoing to take off.
And so the mind drama still isstill there, but I commit every
(21:18):
single day to shooting a video,at least one video a day,
because you can hand yourbusiness card out to 20 people,
or you can make a video that 500people see or 1 million people
see with the way algorithms worknow, that will find their way to
the right patient.
And even though you get videosthat are 20, 20 views, 100
views, when's the last time youspoke in an auditorium of 100
(21:41):
people, right?
There's a lot of that in thebeginning, but it works out.
SPEAKER_00 (21:44):
And so for you, was it more so the commitment?
Like, no matter how I feel, I'mgonna get this done.
Or did you also have some tricksand things you used to kind of
psych yourself to do it?
SPEAKER_01 (21:55):
I had a marketing person to help me with just like
setting up cameras and doingthat.
Stuff, but it was more so justlike get it done, like just set
it up and do it.
Because now we're not in the ageof curated, beautiful, gorgeous
videos anymore.
We're in the age of walk on thestreet while you're like working
(22:16):
out and record a video, andthat's what people see.
And so it's almost the easiesttime to get your videos out
there, right?
Those are the videos that I dothat do the best.
And the other piece of it isjust don't worry about the
vanity metrics.
I there are videos that I thatjust tank in my mind, but I have
patients that come in that say,Hey, I saw your video on XYZ,
and I don't even remember doingthat video because I no one saw
(22:39):
that video and I barely thoughtabout it.
So um, that vanity metric is so,so tricky.
Likes and follows are so, sounimportant.
They feel wonderful, but I couldget a people, I could get a
million people watching a videoand no one, no one walks in
through the door.
So while that helps the mediacompany, if I set that up, it
helps my business zero.
I do think realizing that yourface needs to be everywhere for
(23:02):
people to know who you are is isso key.
You can literally do that in aweek, right?
It takes time, but you can getyour face on three different
platforms.
Focus on one, but you can get iton three different platforms in
a day.
SPEAKER_00 (23:14):
And you talked about something I just want to
reiterate a little bit, and thatis the concept of vanity
metrics, right?
And you like I've had the sameexperience where you have one
video and everybody sees it, andokay, like maybe dopamine, maybe
whatever.
I still remember very vividly aday I posted a video and it had
one like.
And I was like, and what was thepoint of this?
(23:38):
But see, that person thenreached out to me and paid in
full to be a one-on-one client.
And I was like, I'll take theone like all day, every day, and
twice on Sunday.
Thank you very much.
Right.
And so we can't let the vanitymetric stop us from something
that is a very powerful tool inour businesses, right?
Like so, Dr.
Prem, when you think about it,and you may not have an exact
(24:00):
number or anything like that,but when you think about it,
what impact do you think yourpresence on social media has had
on the volume and the of thepatients you have and the
dollars you have in yourpractice?
SPEAKER_01 (24:13):
The vast majority of patients that walk in through
the door are patients fromsocial media.
And so we track everyone comingthrough the door.
This is not uncommon for peoplethat, you know, work that are in
social media, but I don't have athe biggest presence locally.
I have a much bigger presenceregionally and beyond.
I struggle to get the peoplethat are next door because maybe
(24:35):
they just don't see my content.
But the vast majority ofpatients come in through social
media.
I'm not even 10 years intopractice.
I have patients from around theworld.
I operated on someone from theUK.
It's powerful in that sense.
It will test your mindset everysingle time you get someone
through that.
Like, can I do this?
Right?
You still get imposter syndrome.
But it is by far the biggestgame changer that I have ever.
(25:01):
It is social media islife-changing.
It is not, it is no longer yourface in a picture.
It is truly, absolutelylife-changing.
It has changed the trajectory ofmy entire life, my net worth, my
family's life, allowed us to doso much more.
And it was me setting up acamera and doing videos, and
that's it.
And sharing the things that Italk about every day anyway.
SPEAKER_00 (25:24):
So for anyone who's like, I don't know, the reason I
had him share that is so you cansay, hang on, if this can change
the trajectory of my life, canchange my business, can change
my net worth.
If if he's saying the vastmajority of his patients came
from social media and he's goingtowards a million a month, maybe
I should think about it.
unknown (25:45):
Okay.
SPEAKER_00 (25:45):
Maybe I should think about it.
SPEAKER_01 (25:47):
Absolutely.
And the thing that you thatyou've always sort of drove home
is the no like and trust factor,right?
If they're following me onsocial media, they already know
like it, trust me.
A Google ad, it's great.
They never perform as well associal media posts.
So I tell, I tell otherphysicians, you could do a
surgery that you then spend yourprofits on for a Google ad, or
(26:10):
you could record a video and geta better quality patient and
your video took you 20 minutes.
I can't imagine your time isworth, your 20 minutes is worth
more than what you paid for thead.
So you just have to decide whatyour priority is.
And for me, that that was such apowerful brand building skill.
And it's always evolving.
So it's not like you can't dothat with the next new platform.
The next new platform comes in,and if you're first on there,
(26:33):
sky's the limit.
SPEAKER_00 (26:34):
Sky's the limit.
Yeah.
Now, at what point did you say,hey, I have been on social
media, but I want to think abouta media company?
Because I remember even in yourtime in EBS, if I remember
correctly, you even had a monthor something where you did six
figures in brand deals fromsocial media while you were
still employed.
And so at what point did youmake that transition to say I'm
(26:56):
gonna make this two for theprice of one, is gonna grow my
business and is going to be abusiness.
SPEAKER_01 (27:02):
I was slowly getting, you know, PR packages,
right?
Packages of like products frombrands.
Well, I'm very thankful forthem.
They're great.
At the end of the day, thebrands are trying to make money,
right?
So if they're trying to leveragemy audience to make money, then
why can't I do the same thingfor the videos that I already
make, right?
And not in a sleazy way.
I would never promote somethingI don't believe in or that I
(27:23):
haven't tried myself or that Idon't try my patients.
As that kind of grew, I rememberthe first time I got a patient
from TikTok.
I was, we all laughed in the inthe in the clinic because I
thought, this is so funny.
This is never going to happenagain.
And that's all we see, right?
That's every day now.
When that started happening,then I was then approached by,
and no need to be approached,you can contact them yourself, a
uh social media manager, thesemanagers that will help leverage
(27:46):
their name to reach out tobrands and see if you're
aligned.
And now I have that working inthe background.
I don't have to reach out toanybody.
I can have my team, they knowwho I am, they know what I stand
for, reach out to brands and getme brand deals if they work.
And so last year I got to go toParis for a brand trip and got
paid, got to take my wife.
(28:08):
I got to go to Korea.
These are all based onconnections and partnerships
that I wouldn't have madewithout social media and without
forcing myself to get out thereand talk to people.
So those are life-changingopportunities, life-changing
trips, and they're alreadyaligned with what I do.
And so as that starts to grow,you realize that your audience
(28:28):
is very important.
They're the people that made youwho you are, but also brands
want to leverage that audience.
No matter what field you're in,you know, if influencers can
make a million dollars a month,there's no reason why a
physician cannot make a milliondollars a month doing brand
partnerships.
SPEAKER_00 (28:45):
Love the way you think.
And yes, going to going withyour wife to Paris and the trip
was paid and you got paid.
I think that that's a good deal.
Absolutely.
I think that's life-changing.
We talk a lot, and you mentionedthis about the dream business
and the dream life.
And I find for a lot ofphysicians, we're not
necessarily motivated by money.
(29:06):
Like, yes, we understand moneyis important, but it doesn't
make us jump out of bed and doimpossible things.
So I talk about money as much asI do because we don't talk about
money at all.
I'm like, okay, we have to havethis conversation, but it's not
quite the motivation.
But I tell people the mostvaluable thing from being an
entrepreneur is the person youbecome.
And second to that is the lifeyou're able to create.
(29:29):
So for you, when you think aboutit, what is entrepreneurship
made possible for you?
SPEAKER_01 (29:35):
Your podcast really changed my relationship with
money, but the way I think aboutmoney and the way I teach my
kids about money because they'reyoung, is it's a game, right?
Everybody is playing the gamevery differently.
I view money as just my way tobuy back time, right?
So I want time with my family.
I don't want to be trading timefor money every single day.
(29:58):
And so that is the mostimportant facet and gameplay I
have for money.
If you like buying luxury goodsand handbags and cars, go for
it.
I mean, if that's how you wantto, uh if that's how you want to
spend your money, there'snothing wrong with that.
That's amazing.
But for me, that changed myrelationship.
So once I realized, okay, I wantthat to just work for me for
(30:19):
time, but also I want to bespending time on vacation and
not have to think about buyingthat extra meal or taking
business class or whatever thecase may be, then there's
there's just certain things youhave to do to get there.
And every other industry thinksabout money, but we are sort of
like shunned because we helppeople.
(30:40):
And I just think about myattorneys sending me a bill
after like an email that I sendto them, right?
And I just like that just killsme.
And so why can't we share ourknowledge, help people to the
highest capacity, and be giventhe freedom to live our lives
comfortably?
In that regard, changing therelationship with money and
(31:00):
realizing you're not a sleazysalesperson, you're actually
helping people.
That was a big eye-opening thingto think about.
And now I have no problemstalking about money.
If we don't do well in a month,great, let's talk about money
and figure out how to how to dobetter.
And it also helps other peoplethat are struggling to figure
out if you don't have a lot, youcan do this with it.
That part is very important.
SPEAKER_00 (31:20):
100%.
Now you talked about teachingyour kids.
And so you brought this up.
And I want to ask this questionbecause a lot of people shy away
from entrepreneurship becausethey think it will rob them as
far as their relationship withtheir family goes.
They think it will hurt theirkids because they won't be as
available.
And for me, my experience hasbeen that entrepreneurship, like
(31:42):
you described, has given me mytime back.
I homeschool my kids and I don'trecommend it.
I just that's what I wanted todo.
So I'm able to do it.
I'm able to spend time withthem, I'm able to go on vacation
with them, I'm able to involvethem in the business is part of
their curriculum and all ofthose things.
And like you, I get to teachthem the things that we just
didn't learn.
You know, for a physician, wearguably have the best education
(32:04):
in the world, if you can thinkabout it.
And then to think that you thencome out and you don't know
anything about personal finance,you don't know about leadership,
you don't know about money,running businesses, speaking,
you're afraid of showing up onsocial media, it's just
ridiculous.
And I'm like, okay, why don't wejust be proactive and teach you
all those things now?
Right.
And so, you know, for you, beingan entrepreneur, towing this
(32:25):
path, learning these things,transforming so much, how has
that impacted your family?
SPEAKER_01 (32:31):
I remember before I started the practice, I posted
on the Facebook group, I'm gonnatake out this giant loan.
I have like a momentaryfreakout.
Am I not gonna be able to spendtime with my three young
children?
Is this a bad idea?
You also mentioned, and thishappened, right?
The people in your life willalso sort of start to say that
because it's coming from a placeof love.
What you realize too is you cantime block the time you spend on
(32:53):
your business and time block thetime you spend with your family.
And so even though my thoughtwas I'm going to, you know,
spend a whole bunch of time,yes, you have to do the work, of
course, but you you are settingyourself up for more time.
So in 2027, my goal is to take amonth off with my kids during
the summer and do that everyyear.
(33:14):
I could never have imagineddoing that otherwise.
And now my wife, who also works,could never have imagined doing
that otherwise.
But we're given that option nowthat I don't have to be in the
office for a month.
If I was a physician in anemployed group, which is fine,
which is great, I couldn't dothat.
I learned the line thatphysicians are the working
wealthy, right?
(33:34):
We're wealthy when we work, butwhen we're not, if we're not
given those tools, it's verydifficult.
So what you don't realize againis the sort of short-sightedness
that we've never had asphysicians, we can't have as
sort of entrepreneurs, right?
We have to think about what thatlong game is.
And it doesn't have to be 10years, it doesn't have to be
five years, it can be one year.
So I actually ended up getting amillion-dollar loan, actually
(33:57):
more, 1.25 million, so doublewhat I thought it would be.
And if I wanted to, by the endof the year of my first year, I
could have paid that loan offall completely and still paid
myself.
So never would have thought thatwould be possible.
But it wasn't the stress that Ithought it would be.
It was much, much moreattainable.
And for my children, they got tosee me build a business.
(34:18):
I got to help them ask me whatlogo should I pick?
What furniture should I have?
They got to come to my officewhen it wasn't built and see it
get built.
And involving them in that, itsort of gives them those tools.
And we have little likechildren's books about money,
which I wouldn't have done if Iwasn't an entrepreneur.
So while it may feel like you'retaking time away, if you can
time block it, involve them, andrealize how it will buy you back
(34:41):
time, you will have more timewith them than you could
imagine.
SPEAKER_00 (34:44):
You're giving them a business education, right?
And and it's happening casually,like they don't even know that
they're in business school.
Right.
My my daughter is um my first,she's 17 now.
She has her own podcast, theProfitable Private Practice
Podcast, interviewing dogs fromthe business school.
She's part of the business.
She has aspects that she runs.
She speaks confidently on stage.
(35:05):
Her dad's birthday was a weekago, and she was on stage with,
you know, about 700 people inthe building and just rocked it
because she doesn't know anybetter.
Like she doesn't know she shouldbe afraid of speaking.
Right.
Absolutely.
That's pretty wild.
Now, when you think aboutprivate practice for the
physician community and thechallenges that people have and
(35:26):
all that, first of all, what doyou notice are the unique
challenges, you know?
And if you could give them onemessage, what would that be?
SPEAKER_01 (35:35):
One very unique challenge that I think all
business owners have is hiringstaff, right?
So it's difficult to hire staffthat meet your expectation
because we have highexpectations.
It's also difficult to keepstaff once you train them.
But I think if you invest inyour team, both invest in
yourself from a leadershipstandpoint and invest in the
(35:55):
team from an educationaltraining standpoint, and you
take accountability for thingsthat go wrong because it's
eventually it's essentially yourresponsibility.
That piece is super important.
You know, I have colleagues thathave a rotating carousel of
employees.
And that was always my goal tonot have that, right?
To take employees and move themup within the company if they
want to be there.
(36:16):
And if not, then help them foron their next journey.
I think that piece is superimportant.
And again, it's not a knowledgeor or practical skill that we're
we're given, but I do thinkthat's one of the most important
because your team essentially isyour money, your team is your
time, your team is everything.
And that investment is superimportant.
And I think it starts from itobviously starts from the top.
SPEAKER_00 (36:37):
Now, one thing that comes up a lot with doctors is
around investing ourselves.
I think it's a, for some reason,it's a weird concept.
Even though we invested$250,000or so for our medical education,
but that just seems different.
It's like college or somethinglike that.
But I want you to speak a littlebit, you've talked about it, but
a little bit too the power ofinvesting in yourself so you can
(37:01):
become the person that makesyour results possible.
SPEAKER_01 (37:04):
It is a tough pill to swallow when you come out of
training, when you have debt, tothink that your next step is
going to involve a big chunk ofchange.
Because you in your mind, youhave this when I'm done, I will
be making six figures and I willbe happy.
But that rarely ever happens,right?
It's not the money that makesyou happy.
I think that piece we've donefor 15 years, right?
(37:27):
We've done the investment inourselves in exchange for the
education.
If we're now expected to start abusiness and be an entrepreneur,
it is very difficult.
It is no longer a practicalskill.
It is no longer just strategy,right?
It is starts way back fromreaching into your brain and
saying, you need to tellyourself that you actually can
(37:47):
do this and rewiring your wholehead.
That is difficult.
And once you once I realizedthat that was much more
difficult than dropping money toinvest in myself, it was it was
much easier to do.
When I joined EBS, it didn'tseem like a big investment
monetarily because I knew it wasgoing to be such an amazing
payoff.
And now I pay consultants 10 to15k a month because the ROI on
(38:11):
it is 10 to 15 times that permonth.
And I never would have expectedto pay people that much money,
right?
But that is truly an investmentin my business and in myself.
And we're always looking for thefastest ROI.
But again, it it is thatlong-term game.
And and we you have to learnpre-algebra before you do
algebra.
But when you come out of medicalschool, you don't have that
(38:34):
mindset knowledge.
I didn't have the leadershipknowledge.
I didn't have any of that.
I felt like I needed that themost in order to get to my next
step.
And so it is, it was never aquestion of how do I invest in
myself?
It was never a question aboutthe money because I knew it
needed to be done.
And once you realize that ROIcomes in so many different ways:
(38:54):
time, money, energy, happiness,it's so much easier to swallow.
Because truly the biggest ROII've ever had has not been my
real estate investments, notbeen crypto or any, it's been
investing in myself.
So I had a friend who alsostarted his practice at the same
time.
We listen to your podcast everyweek and talk about it.
And same thing.
I said, he built amillion-dollar business in his
(39:16):
plastic surgery in a year, yearand a half.
I said, what other investmenthave you ever done that has
given you this much time, money,and freedom?
None, but investing in yourself.
So I convinced him to leave hisemployed physician job and start
his own practice.
And so these things are, Ithink, like you don't realize it
at first, but it's invaluable.
That is the most importantthing.
SPEAKER_00 (39:37):
That is the most important thing.
And I'm I'm in the same campwith you.
So, and if you're if you'relistening to this and you want
to, you know, find out howentreamd can support you on your
journey, then just reach out andbook a call with my team,
entreamd.com forward slash call.
It's no pressure.
We don't do pressure, we don'tdo any of that.
It's just to see if you want toinvest in yourself, if we're the
(39:58):
right fit.
So yeah.
Dr.
Prem, where can people find you?
And if you're watching this, hegave us like 72,000
masterclasses.
So you need to go follow him andyou need to go support his work.
So where do people find you?
SPEAKER_01 (40:10):
Yeah, so you can find me and my handle is uh at
D-R, so Dr.
Prem Trapathy, P-R E M T R I P AT H I.
And that's on Instagram andTikTok.
You can also email me.
It's PremBtrapathy at gmail.com.
Always available to chat or, youknow, talk things through.
(40:31):
I think like the communityaspect is super important.
You know, none of us are goingthrough this alone and none of
us have this.
It's just like parenting.
You're not like you feel likeyou're in a silo, but you're
not.
Everybody's going through thesame thing.
Definitely please, pleasecontact me.
SPEAKER_00 (40:44):
That is awesome.
All right.
So you know where to find him.
I will put that in the shownotes as well.
Dr.
Prem, I want to say thank you somuch for your time.
Because of course, you're, youknow, you're doing what you do,
but thank you for taking out thetime to do this interview.
And I really want to say thankyou as well for being so open
about your journey, the trials,the triumphs, the wins, because
(41:05):
there's so many people who seethemselves in a story and change
their lives because of it.
So thank you.
Absolutely.
Happy to be here.
All right, people.
We'll see you on the nextepisode of the Ontario Podcast.
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