5 Powerful Business Lessons From a 7-Figure Mastermind

If your business isn't working the way you expected, it's not because you're bad at business. It's because no one ever taught you how it actually works. We were trained to master algorithms in medicine, but when it comes to revenue teams and growth, we were never taught anything. We weren't even told to figure it out. We just assumed somehow we'd know. Like it would magically make sense. But it doesn't. The era of the seven Figure Physician CEO is here. And it's not about working harder. It's about learning entrepreneurship as a system. The same way you mastered ACLs and pals, you can master the algorithm of building a profitable scalable business. That's why I recorded the Seven Figure Physician CEO audiobook. Whether you're building a medical or non medical business, and whether your goal is your first million, first 2 million, first 5 million, first 10 million, this is where the journey starts. There is no calvary coming to save us. We are the calvary. So. So go get your audiobook now. Www.entremd.com 7Figurebook. And let's rewrite the narrative for physicians.

Starting today, you can have a 2024 Ferrari that's a limited edition. They only made 13 of them. Bright red, zero to 60 in six seconds, the whole nine yards. But if it has no tires though, right? If the tires are flat, it's going nowhere. And so you can have the best strategy, you can have the best team, you can have the best conditions, you can have all the connections you need and all of that stuff. But if you don't have the right mindset, your car isn't going anywhere. Hi, docs. Welcome to the Entre MD podcast, where it's all about helping amazing physicians. Just like you, embrace entrepreneurship so you can have the freedom to live life and practice medicine on your terms. I'm your host, Dr. Una. Well, hello. Hello, my friend. Welcome back to another episode of the Entremity podcast. Super pumped, as always, to be in your ears. I was just in a room full of physician entrepreneurs who are rocking it, many of whom have crossed the six figure or multiple six figure, seven figure, multiple seven figure Mark. And I want to share the five biggest lessons I learned from that mastermind so that you can get so much out of this and you can learn the same lessons that I learned. So let's learn. Let's dive into this. So in the Entre MD Business school, it started off completely virtual. And I remember the first year we started in 2020, we had a vision retreat, if you will. But it was all virtual. We got together, we worked on our vision for the following year, for 2021. And after we did that, it was so impactful, so powerful, I started toying with the idea of doing this in person. And so 2021, you know, there was Covid, there was all of that, but we had our very first in person vision retreat in October in Hilton Head, South Carolina. And oh my goodness, it surpassed anything I could have imagined or anybody in the room could have imagined. And I remember at the end of that event, the doctor is going like, hang on, so are you saying that we will not see ourselves in person again until 2022? You know, and started thinking about it and played around with an event in between. And so we started having a mastermind. More nuts and bolts in April. Okay, so we've had this, you know, since 2022. And so we just had the third one at the time of this recording, not too long, not too long ago. And it was, it was amazing. But I want to kind of explain the kind of room that this was. Okay, so this is a room of over 50 physicians. 24% of the physicians in the room were running businesses over a million in revenue. 24%. You know, most of them attended this event were female. And when you look at female founded or female owned businesses, only 2% of them cross the seven figure mark. When you talk about women of color, you're talking about half a percent. And so the numbers are staggering. Okay, so it's 24%. And you know, the, the numbers were just unbelievable. Right? If I, if I trace them all the way down. And so very powerful room, very supportive, supportive room. People very, you know, vulnerable as far as sharing their trials and sharing their triumphs. Right. You know, very sharing, amazing room. And so I, you know, I had a lot to give. We looked at a number of assets, so the million dollar sales system, the million dollar team, the million dollar mindset, the million dollar HQ and all the co working sessions we did and the networking that was facilitated and it was, it was really good. It was literally our best one yet. Okay, it didn't. It's an event where 100% of the people are like, I will absolutely recommend this to another physician. It was just so good. So, you know, I am a student of business and so even though, you know, they're the doctors are in the business school, I still study to see, okay, what is working, what is not working, what was surprising to them, what, what can I learn from this? Because if I have a growth mindset, I Continue to grow. And if I continue to, I continue to help my people get results bigger, faster, easier. And you know, like, I always want to stay in that space. So when I got home, I started thinking about the observations I had and these are the observations. So let's, so let's lean in here. The first one occurred when a doctor, now this doctor, I'm not going to name names because this was a private event, but this doctor is running a multi seven figure business. And when we were looking at the million dollar mindset, you know, this is so important, the example I gave them, I said, you know, you can have a 2024 Ferrari, that's a limited edition, they only made 13 of them, bright red, zero to 60 and in six seconds, the whole nine yards. And. But if it has no tires though, right? The tires are flat, is going nowhere. And so you can have the best strategy, you can have the best team, you can have the best conditions, you can have access to all the connections you need and all of that stuff. But if you don't have the right mindset, your car isn't going anywhere. And so she was like, you know, what do you do when you feel like you should have outgrown certain mindset challenges you have? Like, you shouldn't be having these challenges anymore. And because she's like some kinds of mindset drama that shows up, she's like, I shouldn't still be dealing with this. And it brings me to lesson number one. And lesson number one that I got is you never outgrow the mindset work, okay? You never ever outgrow the mindset work. So think about your mind like a garden. When do you stop weeding the garden? Never. Like, as long as you have a garden, you're going to keep weeding it. The weed is going to keep growing. You're not going to say, oh my goodness, I thought I'd outgrown this. Like I've been weeding it for so long. You just weed it because you know, that's what happens. Think about us like how you know, like how many showers do you take? And then you no longer take showers or how many times do you brush your teeth and you no longer have the need to brush your teeth. Like these are things. We just do the mindset work. We just do. There will be thoughts that will come to stop us, to cripple us and all of that. We have to be aware of how we think. We have to be aware of the thoughts that are stopping us. We have to be aware of the empowering Thoughts we can think. Instead, we have to intentionally do the work to think a different way. But we don't outgrow that. And even if you, quote, unquote, outgrow it for a certain level, you're still going to attract it for a new level. So say, for instance, you are a coach and you have a package that is $10,000 and you develop another package, or over time, you increase your package pricing to $20,000. Now, you, you would have, you know, dealt with the drama around raising your prices, but guess what's going to show up again when you raise your prices again? The same thing. Right? And so once we come to terms with the fact that we don't outgrow this, we can do the work of paying attention to our mindset and really building formidable, strong mindsets that are like really great tires on a really great car. Okay? So the first thing, the first thing that I took away from that, okay, the second thing, we were talking about the million dollar sales system. And of course, every time, you know, we talk about sales, the drama around, am I manipulating people? Am I being greedy? You know, am I just, you know, taking people's money? The yuckiness of. How do I say it? And all of that. And once you come with that energy, it is so hard to sell. Okay, it was so hard to sell. And so when all of conversation came up, I called up two people and, you know, randomly, I didn't know what they were going to say. And I said, you know, tell me about a patient whose life you have absolutely changed by doing what you do. And so two doctors came up and one of them, she's a, she's a surgeon, and she talked about somebody who had, you know, I want to protect the privacy of the patient, if you will, but this person had, you know, a bladder condition and because of that had a really overactive bladder. If the person went on a flight, they would have to sit, you know, in an. In an aisle seat. If they're going to take a run, they have to run in only certain places where there are bathrooms where they can stop, you know, and, you know, to urinate and all of that stuff. If, you know, like it was controlling this person's mind and it was on the person's mind all the time. And she had a procedure that to her is a very simple procedure, is fun for her to do. She does the procedure right now this person is flying on long flights, choosing the window seats, going on long runs, doing all of these things the person could never do because they had an overactive bladder. And this person when, like, sings her praises nonstop. I said, okay, so when you. When you are selling to people, you are serving them like it is your highest level of service, because what you're doing is you're telling this person before they met you that they can have this life after they meet you. Right? And so if you don't stop the. This is a lesson. If you don't stop to take inventory of what your work does, it will be incredibly hard to sell it, and you will feel yucky and you feel sleazy, and you'll see, you'll feel slimy. The more you can lean into what life looks on the other side of working with you, the more you'll be compelled to tell everybody about what you do. Because I asked her, like, is it fair for you to know that you can do this and that people who are living, like, living life with their bladder on their mind at all times, and you could fix it, and you don't want to tell them because you think you're manipulating them? I mean, like, Right. And so the more you lean into, you have to actually stop and you have to take inventory. I don't know that she had connected that to selling. Right? Right. Like, when you stop and you think about what your work does, what your company does, what your product does, what your service does, if you lean into that, you'll fall in love with what you do. And you realize that it is your responsibility. It's. It's a responsibility to tell people about it and tell enough people about it so you can find all the people that you can serve. So that's the second lesson. The third one I was talking. This was not actually in session. And that's the beautiful thing about the mastermind. You know, at the beginning of it, I tell people, I'm like, listen, this whole thing, this whole experience is designed to turn your business around. It's not just what I say. It's what happens in the live sessions. It's what happens when we're actually workshopping, when you have your group discussions is what happens when you're chatting with a classmate on your way to the restroom. It's what happens at lunch. Like, it's all. The whole thing is designed to shatter a glass ceiling and take you to your. The next level in your business. And so we are just walking through the room. The session was over. Walking through the room, I see a doctor. I'm like, oh, my goodness. How are you doing? And we start talking about, you know, her. Her business she's primary care dpc, if you will. And I was like, okay, so tell me, how much did you do in your first year in DPC? And she says, $540,000. Okay. And that is not usual for the DPC world. And I'm cheering her on and I'm like, yes, and all that stuff in it. And then so she's like, yeah, but it's really hard to talk about it anywhere else because I'm constantly criticized because I charge more than the average DPC clinic would. And I'm like, yeah, and that's the reason why you're ebs. You're in a safe place where feel free to talk about it all the time, feel free to own it. And it's not as though, you know, like. And the idea is this, right, where we talk about this on the podcast a lot. You're, you know, your high ticket, low volume or, or low ticket, high volume and all of those kind of stuff. And so she's worked the math of her business and the way she wants her business to look and entremd. We're all about learning to build your business in such a way that you can practice medicine the way you want or you can live life the way you want. Right? And so the third lesson here is that your community is everything. Your community is literally everything. And so she's in a place where she's proud of what she does, she owns what she does, she's comfortable with the prices that she charges, she serves her patients at the highest level. They're getting unbelievably amazing results. And, and, and she's okay with it. But there's another community she would have been in and that would have been totally silenced and crippled and, you know, and all of that. And she would be ashamed that she won't want to show up, and she may be able to charge something completely different, which is not authentic to her, because that's not what she wanted to do. Right? And so your community, your community absolutely matters. Now, I had a conversation with another doctor, again, not in session. We're just, you know, passing through. And she says, I am so grateful that I'm in ebs. I'm so grateful that I was ignorant about private practice when I came into ebs. Okay? So when she came into ebs, you know, and she started, she thought that she would have to be in private practice for at least three years to break even. And she posted about this in the group. She told me about it first before she got into ebs. I'm like, no, that's not. That's not the way we roll here. And so she came into the group, she was like, oh, you know, I've been told, you know, for my specialty and all of that stuff, it'll take three years. And people come in the comments like, no, you're in ebs. We don't do that here. And so what did that do? That changed her expectation, that changed her vision, that made her aware of another level of possibility, and she started working towards it, right? And so she's then telling me, right? At the event, she says, I am so grateful that I didn't really know about private practice before I came into ebs. So I have EBS disease. That's. That's what it's called now, where we have these great expectations of our businesses. And she's like, I have EBS disease. And she said, you know, I was talking to somebody else, and they have a practice, and they've had it for almost a decade, and they still haven't been able to turn a profit. And, you know, and all these things, as she says, the more they would talk to her about it, the more she's like, wait, what? You know, and so your community matters. And that's the. That's the four letters. That's the. That's the third lesson. Your community matters. Your community is everything, right? And so we don't rise above our community, right? Like, if the temperature in your. If your thermostat in your house is set to 70 degrees, that's. That's what you're going to get. And chances are everything will align with it, right? So you become like your community. So you want to look around and say, okay, this community. Do I want to be like this community? And if you don't, you want to find a community that's like, what you want to be like and insert yourself there. When I was teaching about this in session, I said, you know, like, I have the cap. I have the capacity to speak English or French or German or Spanish as a native speaker. But the reason why I speak English is because of my environment. And if I grew up somewhere else, I'll be speaking something different. And to a certain extent, our businesses look the way they do because of the community we find ourselves in, and if we want them to look different, right? Okay, so that. So that's number three. Number four. Number four is really the power of saying yes when opportunities show up. So I was talking to a doctor, and she. She is amazing. She joined the Entrepreneur Business School less than Six months ago. And she had the opportunity to come to the Mastermind, and she had so many good reasons not to come to the Mastermind one. You know, she could have been like, I'm newer in the school I'm in. I'm an entrepreneur. She traveled out of the country, and even after she made the decision she was going to come, she traveled out of the country and her flight coming back was canceled. And she literally. And it was going to get her back into the United States a day after the event would. The day after the event would have ended. And she's like, that's absolutely not happening. I have to be there. And she hadn't been to one of them before, right? Like, granted, people in school had told her about it, but she hadn't been to one before. And so she forfeited the second leg of her ticket, got a brand new ticket, and came back home. And she was telling me, she was like, Dr. Una, this is worth every single thing. Confidence through the roof. The strategies she needed, the mindset shift she needed, you know, integrating with the community in a completely different way. And she's like, this. This was worth everything. And I'm so glad I came. And so there'll be so many opportunities to show up for an event or say yes to. To an opportunity to collaborate with somebody or, you know, speak at an event or whatever. It is the power of saying yes. You really have no idea how much it will change your life. But just saying yes to that will change your life. And there's so many people I talk to who are like, you know, I was wondering if I'll just skip this one, you know. You know, for the OGs, because this is the deal, right? Like, 70% of the people in the room had been in the school for longer than a year. It is absolutely insane. 14% of the room had been in the school since 2020.

Right?

There's a reason. There's a reason for that. But a number of them, like, I don't know, I was like, am I going to skip this one and all of that? Because this is a deal. When you don't say yes to opportunities like that. You never know on the other side what could have been. You just don't know. And, you know, one of my. I always have ulterior motives when I do events, right? Like, Ultramost makes it sound bad. I have these big goals, and one of my biggest goals, my number one goal for me and for my entire team for this mastermind was I want everybody to get a breakthrough in Their business. And what I meant by that was there is a glass ceiling between the version of your business you have now and the next version. And I was like, I want that glass ceiling shattered. Okay. And so it's very beautiful, since I was standing in front of the room, to see these light bulbs go off. Like, you could literally see the breakthroughs happening in real time. It was, it was unbelievably amazing to, to see that. But for the people who are not going to come, you know, it's like, well, you, you say yes to things like this, right? You say yes. Because on the other side of it is just, is just magic. Okay. All right. Right. So. So the fifth one was really something that occurred to me for the work that I do. And the fifth one really is that your work matters. Oh, my goodness. Your work matters. So first of all, of course, I'm looking at the doctors in the room and how they're influencing their industries and how they're helping their clients and the unbelievable transformation their clients and their patients are experiencing. And I looked at the doctors who, you know, some of them had only been in the school for two months, some of them had been there for a year, some of them have been there for three of them are going on their fourth year, June, you know, June 2020, they will hit their fourth year. And I started looking at what happens after you do what you do over a long period of time. And long is relative. Right. So we're. Because we're talking about list. I've watched them for less than four years, for sure. Okay. And so I started looking at those businesses and I'm like, my goodness. Right. I had one of them come up and talk about her story, and there are things she was thinking she would do in year five of that, in year three, she was already completely done with. Right. And so we wonder, like year five, what would that look like? But anyway, when we bring it to Entre md, I started thinking about the fact that this started off as a group of six doctors at a little restaurant in Atlanta. And that became a live event and that became a 12 week master masterclass. And that became a nine month program, which eventually became the Entremd Business School. And we started helping people from the basics, like how to do a Facebook live, how to start a podcast, how to get your first client, how to get your first hundred thousand and then your million and then multiple millions. And then to be in a room where, you know, 20, 24% of the doctors in the room are building businesses, have businesses that did over a million in revenue last year. And another 20%, another 25%, have businesses between, you know, 250,000 and a million to the power of a room like that. And to see that not only are their businesses different, not only are they building rock solid teams, not only, you know, they're winning in their businesses, but their family life is better and their health is better and their mental health is better, and they have this really great community they can lean on. And with ontrem D Business School, we're less than four years old. And it really made me sit and think, like, what will happen? What will happen if you keep at this for another, you know, another three years, another seven years, another 10 years, what would the ripple effect be? Cause there's the school, then there's the books, then there's the podcast, and then there's, you know, like the, the ripple effect because of the impact of the people you're impacting. Go on to have. And the lesson there is just your work matters. Oh, your work matters so much. And it was a lesson for me, but it's a lesson for you, too. And the lesson is this, give it your best shot and don't stop and don't quit. And sometimes you're going to feel like it's not working. But there's a statement we say in the Entrepreneur Business School all the time, and that is, it's always working. Like, it's absolutely always working. And so I just wanted to share these with you so you can take them and you can kind of look at your business through these lenses. And maybe you've gotten frustrated that you're still working on your mindset. It's weeds. We're weeding the garden. It's okay. Maybe you haven't stopped to take inventory of the impact of your business. I want you to stop and do that. It will help you sell so much better because you see selling so differently, right? Like, it's asking. Maybe you've, you've let your community happen to you, haven't intentionally built a community. Well, this is a time, or maybe, maybe in an amazing community like ebs, but you don't lean into it. Like, lean into it. And maybe you've been on the fence and. But you're like, you know, entrepreneurship is lonely. Nobody understands me. I don't have people to bounce ideas off. I don't have places where I can be vulnerable and share what my challenges are and get help. And, you know, the Entrepreneur Business School exists, you know, for that purpose. And so come check us out. You can book a call with my team. Entremdy.com forward/call. Maybe you've had opportunities that, you know, like, if I say yes to this man, the magic that can happen on the other side of it. Maybe it's time to say. It's time to say yes to it. Or maybe you've never really stopped to think about the ripple effect of your work or how much it matters. Your work matters. And so I want to challenge you to never, ever, ever quit. You can pivot if you must, you can adapt if you must, but don't quit on it. The world needs what you do, and this is your. This is your legacy. This truly is. And so. So kind of, you know, reflect on these things. And I would really love for you to share this episode with the other doctors in your world. They'll thank you for it forever. And I am really. I'm really looking forward to continuing to root you on as you live life and practice medicine on your terms, because every doctor deserves that. And that's the new normal. Okay? That's the new normal. All right. Go share this, and I'll see you on the next episode of the Entrepreneur podcast. Sam.