Three Keys to Starting a Doctor-Run Business

Now, more than ever, doctors are turning to the hectic pace and founding their own company. I think that’s a great thing – between rising burnout rates, a lack of real job security and increasingly restrictive regulations, I would say that Now is the perfect time to do just that.

If, as a doctor, you’ve seen the value of starting your own business (whether it’s a side job or a full-blown second job), the first step is to Just start. Of course, that’s easier said than done.

Aside from all of the details like buying accounting software and marketing it to your friends on Facebook, I’ve found that there are three very important keys to consider when starting your business. What are you? I am glad you asked.

to seek advice

This is one of the most important pieces of advice I can give: don’t go alone. Sure, you will likely hire employees or contractors at some point, but it won’t I agree what i’m talking about.

From the moment you have an idea for a business or a sideline, I can’t tell you how valuable the community is. This can be as simple as having a few conversations with a co-worker who also runs a business, or bouncing ideas off your spouse.

Better yet, thanks to the wonderful World Wide Web, you will find a community ready and willing to help. For example, you can find tons of Facebook groups for just about any business niche (if you’re looking for a large group of like-minded people, be sure to check out our Facebook group. Passive Income Docs).

It’s about finding someone who is already where you want to be. Talk to them, seek their advice, and learn from them. You will find shortcuts to success that you didn’t know existed and you will get away from any conversation and feel motivated and ready to take your ideas to the next level.

Write down goals

This may sound trite, but I can tell you that simply writing your goals down is immensely effective in helping you achieve those goals. Actually, certain studies have proven just that.

It’s more than just taking stock of what you’re trying to achieve. Writing down your goals brings you out of abstract thinking and into concrete, actionable steps.

As you write you will come up with new ideas, new goals, and when you see them all laid out you can make connections between them. Besides, there is something about writing it down that defines it real. For example, it’s easy to say “I want to lose ten pounds”. However, if you write it down, you will have a written record that you can refer to at any time.

It also forces you to be a little more specific (as a quick side note, it’s great to write down goals, but getting there is just as important Effective. You can read more about what I mean by that Here). “I want to lose ten pounds” becomes “I will lose one pound a week for ten weeks, starting April 13th.”

It doesn’t matter how small the goal is – or how big – just write it down, then write down the steps you will need to take to get there. Make everything actionable and you will take action.

Pay attention to the price

This point goes hand in hand with the last one. Once you have achieved your goals it is so important to keep them in mind. Fortunately, by writing them down, they become firmly locked into your brain.

As you make choices in your daily life, you will find it easier (and more rewarding) to choose actions that will bring you closer to those goals. For example, if you normally listen to music on your daily walk, you can turn on a Podcast or audiobook instead. Instead of watching Netflix for an hour at night, you might find yourself reading a book about investing.

These little actions build on each other, and the momentum will keep you focused and motivated.

But of course there will be times when you will Not feel motivated. At times when you do not necessarily see progress in your endeavors or encounter obstacles. This is where this list of destinations will come in very useful.

Focus on why you choose a company that you chose. Focus on the life you want for yourself and your family and the freedom you will enjoy. Do that and you will achieve these goals.


If you want to expand your horizons even further and learn from some of the like-minded people I mentioned earlier, I would strongly encourage you to read up on our upcoming activities Leverage and Growth Summit! Not only will you be able to meet others on the same journey you are on (virtually, of course), but you will also hear from successful doctor-entrepreneurs who have walked this path themselves. We hope to see you there!

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