February 17, 2025 • 19 mins
👉 Ready for the next step? Book a call: https://program.www.entremd.com/callÂ
Would you tell a medical student to Google how to perform surgery?
No?Â
Then why are you trying to figure out entrepreneurship on your own?
Just like there are systems of mentorship to help guide a student in becoming a doctor, there are systems of mentorship to help guide a doctor in becoming an entrepreneur.Â
One of the biggest struggles doctors face is trying to DIY their businesses. But you can’t DIY a business! You can’t just Google your way through it or rely on Facebook groups for all the answers.
That’s why today’s episode is all about the power of mentorship. The same power that got you through medical school and that will help you become a world-class entrepreneur!
Tune in.Â
—
Key Takeaways:Â
- 00:00 IntroÂ
- 00:38 The importance of mentorship in entrepreneurshipÂ
- 02:43 The problem with DIYÂ
- 07:39 Three gifts of mentorshipÂ
- 13:47 Make a decision!Â
- 17:04 OutroÂ
Additional Resources:
- Learn more about my 12-month program.
- Interested in 1-on-1 coaching? Apply here.
- Grab a copy of the "The EntreMD Method" book.
When you are ready to work with us, here are three ways:
- EntreMD Business School Accelerator - If you are looking to make a 180 turnaround in your business in 90 days, this is the program for you.
- EntreMD Business School Grow - This is our year-long program with a track record of producing physician entrepreneurs who are building 6, 7 and 7+ figure businesses. They do this while building their dream lives!
- EntreMD Business School Scale - This is our high-level mastermind for physicians who have crossed the seven figure milestone and want to build their businesses to be well oiled machines that can run without them.
To get on a call with my team to determine your next best step, go here ...
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
There are things that we simply don't see, strategies
we can employ.
We simply don't see Decisionswe're making that are hurting
our business, that we simplydon't see Places.
We think we're stuck.
And it's just because we can'tsee there are blind spots.
What mentorship does?
It exposes those blind spots soyou can see and then make the
right decisions.
Hi dogs, welcome to the EntreMDpodcast, where it's all about
(00:23):
helping amazing physicians justlike you embrace
entrepreneurship so you can havethe freedom to live life and
practice medicine on your terms.
I'm your host, dr Imna.
Now, you would never tell amedical student to go Google how
to do surgery.
You would never tell a residentto do that either.
(00:46):
You understand that there aresystems of mentorship that have
been put in place that will helpsomebody go from a pimply
teenager through a process tothen become a heart surgeon.
There is mentorship required,and so my question for you is
why are you trying to figure outentrepreneurship alone?
Why are you trying to figureout entrepreneurship alone?
Why are you trying to figure itout alone?
(01:07):
You're a whole physician.
You have been throughmentorship, through med school,
through residency, some of youthrough fellowship and all of
that stuff, and you understandthe power of it.
Okay, you understand the powerof it, and so, when it comes to
the world of business, it's nodifferent.
It's no different.
One of the most challengingthings I see doctors trying to
do is they're trying to DIYtheir businesses right, and
(01:33):
they're like oh yeah, you know,I can get this from a Facebook
group or I can Google here andstuff like that, and I want to
kind of paint a picture for you.
I want you to get this and someof you you may already be in a
setup where you are gettingmentorship, but maybe you're not
leaning in as much as you can,and at the end of this, you're
going to be all in, so youbecome this person who, every 90
days, your business isdifferent.
Every 90 days, you, as anentrepreneur, are different.
That is possible.
(01:54):
It is not possible withoutmentorship.
Why am I talking about this?
Because this year, the time ofthis recording, is 2025.
And this year is the year ofthe physician.
I've been saying it for fouryears now, but this is the year
we're here, is the year of thephysician, and it is the year
where physicians are going toexperience five freedoms.
This is going to become the newnorm that is available for
(02:16):
physicians.
The first freedom is thefreedom to practice medicine on
their terms.
The second freedom is thefreedom to live life on their
terms.
The third freedom is timefreedom.
The fourth freedom is financialfreedom.
The fifth freedom is thefreedom to live life on their
terms.
The third freedom is timefreedom.
The fourth freedom is financialfreedom.
The fifth freedom is thefreedom to pursue purpose, like
why I really think I'm here,what I really want to do, the
change I want to leave in theworld, the legacy I want to
leave.
We're going to have those fivefreedoms, so forget about what
(02:37):
is happening now.
We have the opportunity forsomething else, but what I don't
want you to do is then wastethis year DIYing.
The problem with DIYing is it isso ridiculously expensive.
You know, my team and I we talkto doctors a lot and it's not
unusual.
You know to see somebody andthey took out this big loan
$300,000 or $400,000, you knowfor their business and they've
(02:59):
blown through it.
They've blown through it onthings that don't matter.
They've bought devices thatthey're never going to use.
They have paid for all theseteams.
They paid for the most gorgeouslocation and all of these
things, but they're not thethings that will make the
business work.
That is so expensive becauseagain, they blew through 300,000
, 400,000 in things that areunprofitable.
Right, we have seen people whoyou know I'm going to take my
(03:20):
business to the next level.
They bring on a marketing teambut on their own they have not
made the evolution.
They don't understand marketing.
They don't understand the termsof marketing, so they cannot
even tell whether the marketingteam is doing a good job or not.
And because they abdicated itthey didn't delegate, they
abdicated like I don't wantanything to do with this they're
not giving their marketing teamany content, any direction,
(03:50):
anything.
So their marketing team, whenthey do stuff for them, don't
even sound like them.
And they're paying five grand,six grand, $10,000 a month with
no ROI.
So I want you to think about ifthey pay $10,000 a month,
that's $120,000 just down thedrain gone.
Diy is expensive.
I've had other people.
They have billers and they'rerunning these multimillion
dollar practices but they haveno idea what the biller is doing
.
They have no idea.
They don't know what theaccounts receivable statement
means, they don't know what ARdays mean, they don't know how
(04:10):
to troubleshoot it.
They don't know any of thosethings, and so, at the end of
the day, the billers are doing asloppy job and I don't mean
billers in general do a sloppyjob, but people do what you
inspect, not what you expect.
But you don't know how toinspect because you have no idea
what's happening.
Those things are expensive.
(04:30):
Do you see how?
Each of these examples we'retalking over a hundred thousand
dollars?
Right, we've had people.
You know they have teams, butthey have not.
They have not learned, they'venot had mentorship on how to
lead a team.
So they have a team they'repaying for, they have a very
huge you know, like, you knowpayroll and all of that, with no
return on investment, nonewhatsoever.
(04:50):
Why don't they have a return oninvestment?
Because they don't know what todo with their team.
They don't even feel they'reworthy of a team.
They don't know how to buildout KPIs for the team.
They don't know how to evaluatethem.
They're just like, yeah, theycome to work, they're dedicated
and all that stuff, and likeyour payroll is $200,000.
Like that's not going to cut it.
So DIY is expensive and itwastes so much time.
It wastes an incredible amountof time, and so I really want us
(05:13):
to start thinking how do I toeliminate this waste, right?
So sometimes we talk to doctorsand we're going like my goodness
, like you're throwing awayhundreds of thousands of dollars
a year.
And they'll say, yeah, I can't,I can't invest in the
entrepreneur business school,you know, I just can't afford it
.
I'm like, no, what you can'tafford is what is going on in
your business.
Like you can't afford that.
(05:34):
And you know, for for thepeople who are listening, who
are newbies, like you have agift.
Like you have a gift, like Iwish I had the entrepreneur
(05:56):
business school when I started.
It will save you so manymistakes.
Like, if it saves you from onemistake, you've covered your
investment.
Because people say ignorance isbliss, ignorance is.
But he does training on coding.
His name is Paul Firth and he,you know he was trained on how
to, how to code properly.
I didn't know anything aboutcoding.
I was like you know, like I waslike every great physician.
You know I just bill everything99213, so I don't get audited.
And so I got an invite in themail to go for his event.
(06:16):
I don't remember what it was,$500 or a thousand, I don't
remember what it was, and youknow it was a whole day
conference.
So I said, okay, you know, I'mjust going to go.
And I went there and thestrategies I learned blew my
mind Like my mind is still blowntill today.
And I was like my goodness, Isaw that, you know, I was seeing
so many 99214s billing them as99213s and that conference
(06:40):
easily led to another sevengrand to $10,000 in my practice
every single month.
So I want you to think aboutthat.
Okay, so let's use, you know,$7,000, seven times 12, that's
84.
So that's $84,000 that I wasable to generate for work I was
already doing because I paid$500 or $1,000 to go for a
conference, right?
(07:00):
I just want you to think aboutthis.
It's the same thing we did inmedical school.
You know, in medical school wepaid 200, 250,000 to get this
career.
And then it puts us in thisplace where we earn six figures,
multiple six figures, almost amillion for some people for
years, till we retire, right?
And so I want us to startthinking in this way, because
this is the way savvyentrepreneurs think.
(07:22):
This is the way they think theylook for the mentorship.
We don't say go Google it, gofind, go to a random Facebook
group and pull it Like those areall good, there's nothing wrong
with it.
But the same way, you're notgoing to become a world-class
surgeon doing that, you're notgoing to become a world-class
entrepreneur doing that, okay,and you're going to throw away
so much, okay.
So the most successfulphysicians that I have in my
(07:43):
world and I have a lot in myworld they get mentorship.
This is something.
This is something they do.
They understand it's a provensystem, just like you understand
it's a proven system.
If you wanted to, you know, getanother residency done and
another certification and stufflike that, you get.
Go get training for it.
You go get mentorship for it.
You know you're not just goingto go Google and go take a test.
That's not the way this works.
We're physicians, we know this,okay.
(08:04):
So what is the gift thatmentorship gives?
Mentorship gives three giftsout of fourth one.
But the first one is that ithelps you see your blind spots.
There's so many things that youcannot see.
There's so many things.
For instance, on Wednesdays wehave our live sessions in the
EntreMD Business School and alot of times we would have you
know Q&A after.
Sometimes we have lasercoaching the entire time, but
(08:26):
sometimes we don't.
I teach a specific thing, butafterwards we have a Q&A and
then usually the Q&A.
You know, people come up and askquestions and literally you can
see the blind spots.
Sometimes their classmates cansee the blind spots, but they
can't see it, you know.
And so they'll come and say youknow, I have this team member,
you know, and they're very good,they're always on time, they
(08:47):
have a great attitude and all ofthese things.
And they start listing theirconcerns about them and I'm like
why is this person still inyour company?
They're like because of thisand because of that, and this is
what I'm paying them.
And I'm like, and because ofthat, and this is what I'm
paying them.
And I'm like you're paying themfive times the national average
, like, and they're costing youmoney, like what are you talking
about?
Right, and it's so easy forthem in that moment to see like,
(09:10):
oh my goodness, like this is aproblem that could cost me
$50,000 this year.
I can get rid of this problemright now.
Right.
And so they're blind spots.
They're things that we simplydon't see.
They're strategies we canemploy we simply don't see.
They're decisions we're makingthat are hurting our business,
that we simply don't see.
They're places we think we'restuck and it's just because we
(09:32):
can't see.
They're blind spots.
And what mentorship does?
It exposes those blind spots soyou can see and then make the
right decisions.
So that's the first gift thatit gives.
The second gift is provenframeworks.
Right, it's proven frameworksbecause, think about it, that's
what we get in medical school,that's what we get in our
residencies and stuff.
We get algorithms, we get allthese cheat sheets, checklists,
(09:53):
all of these kinds of things.
And then we know, like when wewant to run a code, somebody
looking from the outside is likeoh, it's so chaotic and all of
those things.
You know it's step one and theyre-evaluate step two, then step
three.
If this, then that it's veryorganized in our head.
It's a framework and I loveframeworks and blueprints and
checklists and all of thosethings.
And, for instance, in mymentorship program in the Entree
(10:13):
MD Business School, we have alot of those.
We have a revenue generationframework.
We have that revenue generationframework.
We have that.
We have a checklist for all thethings you need to learn, the
four pillars of the Entree MDBusiness School.
We have a framework forcreating an ideal job ad so you
attract the kind of people youwant and then you repel the
people you don't want, like theyall have formula, blueprints,
(10:34):
checklists, frameworks.
That's what you get from amentor and that's the reason why
you know one of the things I dois I recognize that you know,
like I'm a leader in thephysician entrepreneur space and
there's so many people that I'mresponsible for and that's why
I'm constantly learning andthat's why I'm constantly
developing new frameworks andI'm constantly studying new
(10:56):
businesses and I'm trying out indifferent industries.
Because what do I want to do?
I want to give my people thebest frameworks, the best
pathways, the best blueprintsthat will help them get the
biggest results they can in lessamount of time, not more Right.
And so you get these provenframeworks, especially if it's a
mentor who's been there, donethat and has the t-shirts Okay,
(11:16):
which I happen to have.
That's the second thing.
The third thing a mentor woulddo is they'll hold you
accountable.
People are not just motivatedbecause they're always motivated
.
They're motivated becausethere's systems of
accountability.
I have so many systems ofaccountability around me, so I
seem motivated all the time, butI'm not right.
But I'm getting the job done,I'm doing what needs to be done,
and so you get that?
(11:37):
You get that because it's thedifference between deciding to
do something and doing it ninemonths later, or deciding to do
something and getting it donethe next day.
This is one of the reasons.
In the Entremet Business School,we have monthly challenges, and
the monthly challenges they'rein your face.
They're designed to keep you inmomentum.
Nobody just stays in momentum.
People in accountabilitysystems stay in momentum, and so
(11:58):
that's what they give you isthe gift of accountability.
Now, when you have mentorshipin the context of community,
which I was so adamant aboutwhen we started the Entremdi
Business School people are likeI want one-on-one coaching.
I'm like, trust me, that is notwhat you want.
I need you to trust me on thisone.
That is not what you want.
Having the gift of physicianentrepreneurs who are building
(12:19):
businesses from startup all theway to 9 million in revenue to
be in that community I mean,what do they say?
Your network is your net worth.
Your net worth jumps maybe athousand X just by joining the
school right, because now you'reexposed to about a hundred
(12:41):
physicians who are like unicorns, who are killing it, crushing
it right In all different phases, in all different industries.
It's like unbelievably amazing.
Now, how is this a gift?
This is the fourth gift.
When you have the gift ofmentorship in community, what
you get is vertical andhorizontal mentorship.
So what that means is you getthe mentorship you get from the
leader of the community.
(13:02):
I also get the mentorship thatyou get from the people in the
community, because there are somany rock stars, so many
unicorns, so many phenomenalphysicians, and you're not going
to learn from just me.
You're going to learn from themas well, like when you watch
them do what they do.
They normalize challenges.
They normalize big wins.
They normalize doing it messy.
They normalize doing it scared.
They normalize showing up evenwhen life is lifey.
(13:24):
They normalize going at thepace of grace when life life's
like.
They do all of these things.
It's just a phenomenal.
It's a phenomenal experience.
I say this because I don't wantyou to miss out on the year of
the physician.
I don't want you to go anotheryear saying this is the year I
build a team, or this is theyear I cross the seven figure
mark, or this is the year I buymy time back, or this, like I've
(13:45):
been thinking about doing thisfor a long time.
I want to invite you to make adecision, Okay, and you can say,
oh, I have this other programthat I want to do and that's
fine.
I'm talking about theentrepreneur business school,
because I don't know thatthere's a better program for
physician entrepreneurs.
I just don't know that there is.
So that's why I'm talking aboutthe program that I lead.
But I want to invite you tomake a decision.
(14:05):
Like, at some point, if youdidn't make the decision to get
into medical school, you won'tbe a doctor period Like you just
wouldn't be.
What is on the other side ofyour yes, what is on the other
side of you being in a positionwhere you get the mentorship,
you get the accountability, youget the community, all of those
things, and you start makingsignificant strides.
This is the way you get twoyears in one, four years in one.
(14:27):
It's not unusual for people tocome into the EntreMD Business
School and they're like mygoodness.
The first half of the year, Imade X amount of dollars.
The second half of the yearthat I was in the school, I made
2X.
That Some people it's 4X, that.
It's not unusual for people tocome in and they do their first
quarter in the business schooland they're like my goodness, I
did more in this quarter than Idid all of last year.
It's not unusual, and I mightsay come in.
(14:49):
Just all you have to do is signhere and then all these things
will happen.
No, there's work to be done,but I'm telling you this because
it's available, and it's notone or two people and we didn't
start the school yesterday.
It's been around for four and ahalf years, right, and so you
may be afraid, afraid, but fearis not what stops you from
coming into the community.
Fear is what drives you to comeinto the community, because
(15:09):
then you see, everybody'sgetting afraid and we normalize
that You're able to get overthat faster.
You may be like nah, I thinkI'll figure it out, but you're a
physician and so figuring itout is not a winning strategy.
This is not a winning strategy.
If you have been stalling onsomething for years, if you have
wasted so much money trying todo something and you have made
(15:31):
no headway.
It's time to make a decision.
It's time to make a decision todo things differently.
So what I want you to do is Iwant you to embrace leverage.
That's what mentorship is.
Mentorship is leverage.
You can go at one speed or youcan go at two, four, eight, 10,
12 speed right, and that's whatthe EntreeMD Business School
will do for you.
I want you to make a decision.
(15:51):
I'm going to embrace leverageand I want to invite you to come
join us in the EntreeMDBusiness School.
It's EntreeMDcom forward slashbusiness.
You can turn in applicationTeam will be happy to talk with
you and kind of walk you throughwhat it is such a magical place
.
I wish I had it when I startedas an entrepreneur, but I didn't
(16:12):
have it, so then I built it.
But it is such a game changer.
There is a reason why, four anda half years later, the school
has been around for four and ahalf years.
We still have doctors whostarted four and a half years
ago and they haven't left.
There's a reason why, and Iwant to invite you to come join
us and this is not about sales.
This is about you puttingyourself in a position for
(16:32):
radical change.
And it's so important to mebecause I did not start off as a
person who would be anentrepreneur.
In fact, some of my classmatesare like Dr Udall.
What happened?
What happened to you?
We knew you.
You were very quiet, maybe evenshy.
You know person and you're justlike super smart and things
like that.
But what is all this otherstuff that you're doing right?
(16:53):
And one of my biggestsuperpowers or super hacks is
mentorship is mentorship, andever since I found it, I've
never stopped because it's sucha game changer and I want to
invite you to come have thatexperience with us too.
Okay, so turn your applicationon ontrendycom forward, slash
business, and I'm lookingforward to celebrating you and
(17:14):
celebrating the wins and thespeed and the transformation.
And we had a doc who justjoined the on-trend business
school about you know, 30 daysago and she, she, she posted in
the group.
She's like I cannot.
I cannot recognize myself, Icannot believe the things that
I'm doing.
I cannot believe the personI've turned into right 30 days,
30 days.
Okay, so I'm rooting for you.
(17:35):
I want you to have the sameexperience.
So go, turn in your applicationand I will see you on the
inside of the Entree MD BusinessSchool.
There are things that we simply don't see, strategies
we can employ.
We simply don't see Decisionswe're making that are hurting
our business, that we simplydon't see Places.
We think we're stuck.
And it's just because we can'tsee there are blind spots.
What mentorship does?
It exposes those blind spots soyou can see and then make the
right decisions.
Hi dogs, welcome to the EntreMDpodcast, where it's all about
(00:23):
helping amazing physicians justlike you embrace
entrepreneurship so you can havethe freedom to live life and
practice medicine on your terms.
I'm your host, dr Imna.
Now, you would never tell amedical student to go Google how
to do surgery.
You would never tell a residentto do that either.
(00:46):
You understand that there aresystems of mentorship that have
been put in place that will helpsomebody go from a pimply
teenager through a process tothen become a heart surgeon.
There is mentorship required,and so my question for you is
why are you trying to figure outentrepreneurship alone?
Why are you trying to figureout entrepreneurship alone?
Why are you trying to figure itout alone?
(01:07):
You're a whole physician.
You have been throughmentorship, through med school,
through residency, some of youthrough fellowship and all of
that stuff, and you understandthe power of it.
Okay, you understand the powerof it, and so, when it comes to
the world of business, it's nodifferent.
It's no different.
One of the most challengingthings I see doctors trying to
do is they're trying to DIYtheir businesses right, and
(01:33):
they're like oh yeah, you know,I can get this from a Facebook
group or I can Google here andstuff like that, and I want to
kind of paint a picture for you.
I want you to get this and someof you you may already be in a
setup where you are gettingmentorship, but maybe you're not
leaning in as much as you can,and at the end of this, you're
going to be all in, so youbecome this person who, every 90
days, your business isdifferent.
Every 90 days, you, as anentrepreneur, are different.
That is possible.
(01:54):
It is not possible withoutmentorship.
Why am I talking about this?
Because this year, the time ofthis recording, is 2025.
And this year is the year ofthe physician.
I've been saying it for fouryears now, but this is the year
we're here, is the year of thephysician, and it is the year
where physicians are going toexperience five freedoms.
This is going to become the newnorm that is available for
(02:16):
physicians.
The first freedom is thefreedom to practice medicine on
their terms.
The second freedom is thefreedom to live life on their
terms.
The third freedom is timefreedom.
The fourth freedom is financialfreedom.
The fifth freedom is thefreedom to live life on their
terms.
The third freedom is timefreedom.
The fourth freedom is financialfreedom.
The fifth freedom is thefreedom to pursue purpose, like
why I really think I'm here,what I really want to do, the
change I want to leave in theworld, the legacy I want to
leave.
We're going to have those fivefreedoms, so forget about what
(02:37):
is happening now.
We have the opportunity forsomething else, but what I don't
want you to do is then wastethis year DIYing.
The problem with DIYing is it isso ridiculously expensive.
You know, my team and I we talkto doctors a lot and it's not
unusual.
You know to see somebody andthey took out this big loan
$300,000 or $400,000, you knowfor their business and they've
(02:59):
blown through it.
They've blown through it onthings that don't matter.
They've bought devices thatthey're never going to use.
They have paid for all theseteams.
They paid for the most gorgeouslocation and all of these
things, but they're not thethings that will make the
business work.
That is so expensive becauseagain, they blew through 300,000
, 400,000 in things that areunprofitable.
Right, we have seen people whoyou know I'm going to take my
(03:20):
business to the next level.
They bring on a marketing teambut on their own they have not
made the evolution.
They don't understand marketing.
They don't understand the termsof marketing, so they cannot
even tell whether the marketingteam is doing a good job or not.
And because they abdicated itthey didn't delegate, they
abdicated like I don't wantanything to do with this they're
not giving their marketing teamany content, any direction,
(03:50):
anything.
So their marketing team, whenthey do stuff for them, don't
even sound like them.
And they're paying five grand,six grand, $10,000 a month with
no ROI.
So I want you to think about ifthey pay $10,000 a month,
that's $120,000 just down thedrain gone.
Diy is expensive.
I've had other people.
They have billers and they'rerunning these multimillion
dollar practices but they haveno idea what the biller is doing
.
They have no idea.
They don't know what theaccounts receivable statement
means, they don't know what ARdays mean, they don't know how
(04:10):
to troubleshoot it.
They don't know any of thosethings, and so, at the end of
the day, the billers are doing asloppy job and I don't mean
billers in general do a sloppyjob, but people do what you
inspect, not what you expect.
But you don't know how toinspect because you have no idea
what's happening.
Those things are expensive.
(04:30):
Do you see how?
Each of these examples we'retalking over a hundred thousand
dollars?
Right, we've had people.
You know they have teams, butthey have not.
They have not learned, they'venot had mentorship on how to
lead a team.
So they have a team they'repaying for, they have a very
huge you know, like, you knowpayroll and all of that, with no
return on investment, nonewhatsoever.
(04:50):
Why don't they have a return oninvestment?
Because they don't know what todo with their team.
They don't even feel they'reworthy of a team.
They don't know how to buildout KPIs for the team.
They don't know how to evaluatethem.
They're just like, yeah, theycome to work, they're dedicated
and all that stuff, and likeyour payroll is $200,000.
Like that's not going to cut it.
So DIY is expensive and itwastes so much time.
It wastes an incredible amountof time, and so I really want us
(05:13):
to start thinking how do I toeliminate this waste, right?
So sometimes we talk to doctorsand we're going like my goodness
, like you're throwing awayhundreds of thousands of dollars
a year.
And they'll say, yeah, I can't,I can't invest in the
entrepreneur business school,you know, I just can't afford it
.
I'm like, no, what you can'tafford is what is going on in
your business.
Like you can't afford that.
(05:34):
And you know, for for thepeople who are listening, who
are newbies, like you have agift.
Like you have a gift, like Iwish I had the entrepreneur
(05:56):
business school when I started.
It will save you so manymistakes.
Like, if it saves you from onemistake, you've covered your
investment.
Because people say ignorance isbliss, ignorance is.
But he does training on coding.
His name is Paul Firth and he,you know he was trained on how
to, how to code properly.
I didn't know anything aboutcoding.
I was like you know, like I waslike every great physician.
You know I just bill everything99213, so I don't get audited.
And so I got an invite in themail to go for his event.
(06:16):
I don't remember what it was,$500 or a thousand, I don't
remember what it was, and youknow it was a whole day
conference.
So I said, okay, you know, I'mjust going to go.
And I went there and thestrategies I learned blew my
mind Like my mind is still blowntill today.
And I was like my goodness, Isaw that, you know, I was seeing
so many 99214s billing them as99213s and that conference
(06:40):
easily led to another sevengrand to $10,000 in my practice
every single month.
So I want you to think aboutthat.
Okay, so let's use, you know,$7,000, seven times 12, that's
84.
So that's $84,000 that I wasable to generate for work I was
already doing because I paid$500 or $1,000 to go for a
conference, right?
(07:00):
I just want you to think aboutthis.
It's the same thing we did inmedical school.
You know, in medical school wepaid 200, 250,000 to get this
career.
And then it puts us in thisplace where we earn six figures,
multiple six figures, almost amillion for some people for
years, till we retire, right?
And so I want us to startthinking in this way, because
this is the way savvyentrepreneurs think.
(07:22):
This is the way they think theylook for the mentorship.
We don't say go Google it, gofind, go to a random Facebook
group and pull it Like those areall good, there's nothing wrong
with it.
But the same way, you're notgoing to become a world-class
surgeon doing that, you're notgoing to become a world-class
entrepreneur doing that, okay,and you're going to throw away
so much, okay.
So the most successfulphysicians that I have in my
(07:43):
world and I have a lot in myworld they get mentorship.
This is something.
This is something they do.
They understand it's a provensystem, just like you understand
it's a proven system.
If you wanted to, you know, getanother residency done and
another certification and stufflike that, you get.
Go get training for it.
You go get mentorship for it.
You know you're not just goingto go Google and go take a test.
That's not the way this works.
We're physicians, we know this,okay.
(08:04):
So what is the gift thatmentorship gives?
Mentorship gives three giftsout of fourth one.
But the first one is that ithelps you see your blind spots.
There's so many things that youcannot see.
There's so many things.
For instance, on Wednesdays wehave our live sessions in the
EntreMD Business School and alot of times we would have you
know Q&A after.
Sometimes we have lasercoaching the entire time, but
(08:26):
sometimes we don't.
I teach a specific thing, butafterwards we have a Q&A and
then usually the Q&A.
You know, people come up and askquestions and literally you can
see the blind spots.
Sometimes their classmates cansee the blind spots, but they
can't see it, you know.
And so they'll come and say youknow, I have this team member,
you know, and they're very good,they're always on time, they
(08:47):
have a great attitude and all ofthese things.
And they start listing theirconcerns about them and I'm like
why is this person still inyour company?
They're like because of thisand because of that, and this is
what I'm paying them.
And I'm like, and because ofthat, and this is what I'm
paying them.
And I'm like you're paying themfive times the national average
, like, and they're costing youmoney, like what are you talking
about?
Right, and it's so easy forthem in that moment to see like,
(09:10):
oh my goodness, like this is aproblem that could cost me
$50,000 this year.
I can get rid of this problemright now.
Right.
And so they're blind spots.
They're things that we simplydon't see.
They're strategies we canemploy we simply don't see.
They're decisions we're makingthat are hurting our business,
that we simply don't see.
They're places we think we'restuck and it's just because we
(09:32):
can't see.
They're blind spots.
And what mentorship does?
It exposes those blind spots soyou can see and then make the
right decisions.
So that's the first gift thatit gives.
The second gift is provenframeworks.
Right, it's proven frameworksbecause, think about it, that's
what we get in medical school,that's what we get in our
residencies and stuff.
We get algorithms, we get allthese cheat sheets, checklists,
(09:53):
all of these kinds of things.
And then we know, like when wewant to run a code, somebody
looking from the outside is likeoh, it's so chaotic and all of
those things.
You know it's step one and theyre-evaluate step two, then step
three.
If this, then that it's veryorganized in our head.
It's a framework and I loveframeworks and blueprints and
checklists and all of thosethings.
And, for instance, in mymentorship program in the Entree
(10:13):
MD Business School, we have alot of those.
We have a revenue generationframework.
We have that revenue generationframework.
We have that.
We have a checklist for all thethings you need to learn, the
four pillars of the Entree MDBusiness School.
We have a framework forcreating an ideal job ad so you
attract the kind of people youwant and then you repel the
people you don't want, like theyall have formula, blueprints,
(10:34):
checklists, frameworks.
That's what you get from amentor and that's the reason why
you know one of the things I dois I recognize that you know,
like I'm a leader in thephysician entrepreneur space and
there's so many people that I'mresponsible for and that's why
I'm constantly learning andthat's why I'm constantly
developing new frameworks andI'm constantly studying new
(10:56):
businesses and I'm trying out indifferent industries.
Because what do I want to do?
I want to give my people thebest frameworks, the best
pathways, the best blueprintsthat will help them get the
biggest results they can in lessamount of time, not more Right.
And so you get these provenframeworks, especially if it's a
mentor who's been there, donethat and has the t-shirts Okay,
(11:16):
which I happen to have.
That's the second thing.
The third thing a mentor woulddo is they'll hold you
accountable.
People are not just motivatedbecause they're always motivated
.
They're motivated becausethere's systems of
accountability.
I have so many systems ofaccountability around me, so I
seem motivated all the time, butI'm not right.
But I'm getting the job done,I'm doing what needs to be done,
and so you get that?
(11:37):
You get that because it's thedifference between deciding to
do something and doing it ninemonths later, or deciding to do
something and getting it donethe next day.
This is one of the reasons.
In the Entremet Business School,we have monthly challenges, and
the monthly challenges they'rein your face.
They're designed to keep you inmomentum.
Nobody just stays in momentum.
People in accountabilitysystems stay in momentum, and so
(11:58):
that's what they give you isthe gift of accountability.
Now, when you have mentorshipin the context of community,
which I was so adamant aboutwhen we started the Entremdi
Business School people are likeI want one-on-one coaching.
I'm like, trust me, that is notwhat you want.
I need you to trust me on thisone.
That is not what you want.
Having the gift of physicianentrepreneurs who are building
(12:19):
businesses from startup all theway to 9 million in revenue to
be in that community I mean,what do they say?
Your network is your net worth.
Your net worth jumps maybe athousand X just by joining the
school right, because now you'reexposed to about a hundred
(12:41):
physicians who are like unicorns, who are killing it, crushing
it right In all different phases, in all different industries.
It's like unbelievably amazing.
Now, how is this a gift?
This is the fourth gift.
When you have the gift ofmentorship in community, what
you get is vertical andhorizontal mentorship.
So what that means is you getthe mentorship you get from the
leader of the community.
(13:02):
I also get the mentorship thatyou get from the people in the
community, because there are somany rock stars, so many
unicorns, so many phenomenalphysicians, and you're not going
to learn from just me.
You're going to learn from themas well, like when you watch
them do what they do.
They normalize challenges.
They normalize big wins.
They normalize doing it messy.
They normalize doing it scared.
They normalize showing up evenwhen life is lifey.
(13:24):
They normalize going at thepace of grace when life life's
like.
They do all of these things.
It's just a phenomenal.
It's a phenomenal experience.
I say this because I don't wantyou to miss out on the year of
the physician.
I don't want you to go anotheryear saying this is the year I
build a team, or this is theyear I cross the seven figure
mark, or this is the year I buymy time back, or this, like I've
(13:45):
been thinking about doing thisfor a long time.
I want to invite you to make adecision, Okay, and you can say,
oh, I have this other programthat I want to do and that's
fine.
I'm talking about theentrepreneur business school,
because I don't know thatthere's a better program for
physician entrepreneurs.
I just don't know that there is.
So that's why I'm talking aboutthe program that I lead.
But I want to invite you tomake a decision.
(14:05):
Like, at some point, if youdidn't make the decision to get
into medical school, you won'tbe a doctor period Like you just
wouldn't be.
What is on the other side ofyour yes, what is on the other
side of you being in a positionwhere you get the mentorship,
you get the accountability, youget the community, all of those
things, and you start makingsignificant strides.
This is the way you get twoyears in one, four years in one.
(14:27):
It's not unusual for people tocome into the EntreMD Business
School and they're like mygoodness.
The first half of the year, Imade X amount of dollars.
The second half of the yearthat I was in the school, I made
2X.
That Some people it's 4X, that.
It's not unusual for people tocome in and they do their first
quarter in the business schooland they're like my goodness, I
did more in this quarter than Idid all of last year.
It's not unusual, and I mightsay come in.
(14:49):
Just all you have to do is signhere and then all these things
will happen.
No, there's work to be done,but I'm telling you this because
it's available, and it's notone or two people and we didn't
start the school yesterday.
It's been around for four and ahalf years, right, and so you
may be afraid, afraid, but fearis not what stops you from
coming into the community.
Fear is what drives you to comeinto the community, because
(15:09):
then you see, everybody'sgetting afraid and we normalize
that You're able to get overthat faster.
You may be like nah, I thinkI'll figure it out, but you're a
physician and so figuring itout is not a winning strategy.
This is not a winning strategy.
If you have been stalling onsomething for years, if you have
wasted so much money trying todo something and you have made
(15:31):
no headway.
It's time to make a decision.
It's time to make a decision todo things differently.
So what I want you to do is Iwant you to embrace leverage.
That's what mentorship is.
Mentorship is leverage.
You can go at one speed or youcan go at two, four, eight, 10,
12 speed right, and that's whatthe EntreeMD Business School
will do for you.
I want you to make a decision.
(15:51):
I'm going to embrace leverageand I want to invite you to come
join us in the EntreeMDBusiness School.
It's EntreeMDcom forward slashbusiness.
You can turn in applicationTeam will be happy to talk with
you and kind of walk you throughwhat it is such a magical place
.
I wish I had it when I startedas an entrepreneur, but I didn't
(16:12):
have it, so then I built it.
But it is such a game changer.
There is a reason why, four anda half years later, the school
has been around for four and ahalf years.
We still have doctors whostarted four and a half years
ago and they haven't left.
There's a reason why, and Iwant to invite you to come join
us and this is not about sales.
This is about you puttingyourself in a position for
(16:32):
radical change.
And it's so important to mebecause I did not start off as a
person who would be anentrepreneur.
In fact, some of my classmatesare like Dr Udall.
What happened?
What happened to you?
We knew you.
You were very quiet, maybe evenshy.
You know person and you're justlike super smart and things
like that.
But what is all this otherstuff that you're doing right?
(16:53):
And one of my biggestsuperpowers or super hacks is
mentorship is mentorship, andever since I found it, I've
never stopped because it's sucha game changer and I want to
invite you to come have thatexperience with us too.
Okay, so turn your applicationon ontrendycom forward, slash
business, and I'm lookingforward to celebrating you and
(17:14):
celebrating the wins and thespeed and the transformation.
And we had a doc who justjoined the on-trend business
school about you know, 30 daysago and she, she, she posted in
the group.
She's like I cannot.
I cannot recognize myself, Icannot believe the things that
I'm doing.
I cannot believe the personI've turned into right 30 days,
30 days.
Okay, so I'm rooting for you.
(17:35):
I want you to have the sameexperience.
So go, turn in your applicationand I will see you on the
inside of the Entree MD BusinessSchool.
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