Don't be a Blockbuster in a Netflix world

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.

Hi, docs. Welcome to the Entre MD Podcast where it is 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, welcome back. Welcome back. Welcome back to another episode of the Entre MD Podcast. Hope you are having an amazing day. This is going to be such an inspiring episode and is going to really set you up and set you on fire to take charge of some things. You're going to love it. Okay? So I am going to be showing you how not to be a blockbuster in a Netflix world. Okay? And you're like, what? And don't worry, I got you. We'll. We'll take care of this. Okay? This episode is Sponsored by Entre MD LIVE 2020, our virtual edition happening Saturday, June 27, 2020. If you didn't get your tickets yet, you definitely want to go get them. Entre md.com forward/events, okay? It is gonna be the events that will set everything straight. But I'll give you more details in a bit. So don't be a blockbuster in a Netflix world. Now, Blockbuster used to be, you know, the big company in the video world. We all would go there. I still remember their blue and yellow signs. You go borrow a movie, you kind of go like, okay, when do I have to turn it back in so I don't get these late fees and stuff like that. And. And, you know, you're driving, you're breaking traffic rules to get there on time to return it and stand in line and the whole nine yards. And we had a problem and that problems. You know, we didn't like the pressure. We didn't want to pay the late fees. We didn't even want to go return them. We didn't want to go anywhere to borrow them, you know, But Netflix found that problem and started solving it. And, you know, you may be young enough that you don't remember this, but when they first started, they would mail you the movies, and when you were done, you just put it back in the mailbox and off it goes. So you didn't have to leave your house. You didn't have to do anything like that. Very convenient, right? Of course, now they're streaming, and it's a whole different thing, a whole different level of convenience, but that's what it was at the time. Now, at the time, Netflix CEO Hastings tried to sell Netflix to Blockbuster for $50 million. And Story has it that he was laughed out the room, okay? And at the time, blockbuster was worth 8.4 billion. So they were doing, you know, pretty well. They were struggling at the time, but they were doing pretty well. And, you know, Blockbuster slowly but surely disappeared, filed for bankruptcy, and they were done. And Today Netflix has 167 million million subscribers. They're doing 30 billion in sales every year. Okay? So they are massive. And they totally got rid of Blockbuster, okay? They killed Blockbuster. And Blockbuster's main error was not necessarily marketing or any of those things. Their main error was that they didn't recognize that times had changed and they were never going back to the way things used to be. Times had changed. What people needed was different, and they were no longer meeting the need. Okay? And you might go like, wow, that's interesting. 8.4 billion. 50 million. Now they have 167 million subscribers. But what in the world does that have to do with me? All right, in our world, I need you to look at what is happening in the medical space because it hurts me to see it. Doctors are being fired. Doctors are being furloughed in the middle of a pandemic because this recording is happening right in the middle of the COVID 19 era, in the middle of a pandemic. They're working more, earning less, and at the same time, administrators and CEOs are taking bonuses while doctors who are at the front lines, who are putting their lives at risk, who are quote, unquote, endangering their families. Right. Are being furloughed. Unbelievable. And I had known since 2016 that medicine had changed for good. A shift had already happened. The train was already moving. There's no way to stop it. The cat was already out the bag, and times had changed, and doctors had to adapt. If we're still going to have careers and businesses that we will enjoy. We did not go through all this high school, all this medical school, all the pre med, all the residency, all the fellowship, all of that to have a career that we don't like. I mean, we paid too much of a price. Okay, so what is the blockbuster era where, you know, take care of patients and we will take care of everything else? That era is gone forever if we leave the fate of our careers or our businesses to other others in that sense, like, oh, we'll just. I just. Doctors tell me all this, this all the time, I just want to take care of patients. That doesn't work anymore. That does not work anymore. We need to change. We need to get into the Netflix era, where you take your seat at the head of the table, you take your seat at the table, or if you are not allowed to the table, build your own table. But it's time for us to take charge. It is time for us to not just be scrubs, but to be scrubs and suits. It is time. Don't be a blockbuster. Be a Netflix. Okay, you might go like, okay, And I'm going to show you five signs that you're a blockbuster. Okay? And this is not to call you out. This is for you to look at it and go, like, I need to change this. I need to make this different. I need to work on this. And this is not optional. It used to be optional. In fact, I used to post and ask questions on social media then. And there's like, there will always be job security in medicine. There will always be this. This was two years ago. Two years ago. And we're seeing that. No, no, ma'. Am. No, sir. No. If we don't take care of stuff, stuff may not get taken care of. All right, so let's look at those five signs. So first sign is that you depend on administration to take care of you. Like, I'm going to see the patients and they will take care of everything else. And, you know, if you own your own business or you own a private practice, you're going like, yeah, I don't. Yeah, I don't do stuff. I'm the boss. If you're the boss and you have no idea what Your AR looks like you have no idea how much money came in, what went out, what things are being spent on, what. If you. You think about marketing, you're like, I'm not gonna do that. You're depending on administration. You're depending on an office manager to make sure everything is figured out. Like, I don't want to deal with all that Stu stuff. You take care of it. And I'm not saying you do the nitty gritty, but you have to have some kind of overview oversight of what is going on, okay? The era of I will just see patients and other people just take care of everything, and I'm completely blind and ignorant of what is going on there. That era is over, okay? That era is completely over. So if you find yourself thinking like that or if you find yourself acting like that, that's a sign that you're acting like a blockbuster, okay? The second sign, and this would be more so for my intrapreneurs, is that you don't contribute beyond your job description. You're like, I just clock in and clock out and I just do the bare minimum and I get paid. I have a client who is an intrapreneur. She works in a practice, and over the last year, she's been responsible for helping them get on telemedicine. She's been responsible for getting them a YouTube channel, starting a mailing list, speaking in the community. Doing all of these things has nothing to do with her job description. But guess what that did for her that set her up, that if they're like, you know, we need to lay people off. She's not on that list. She's not on that list because she's productive. She does above and beyond. I have another client who is an intrapreneur as well, and she does a lot of media. She's on CNN representing the hospital that she works on. She's on hln, she's on Fox. She's on all these places doing interviews and doing all of that, making the hospital look. If they're going to lay off, guess who they're not laying off. They're not laying her off because she brings so much value. So the third episode on the Entrepreneur podcast talks about the physician intrapreneur. If you are an intrapreneur, I want you to go listen to that episode and I want you to start building your own quote unquote business, okay? So if you're just like, I just do this, I just go away. You're doing a really great disservice. That's A block buster era type thing. We don't do that anymore. Okay, Number three is that you're not building out your personal brand. And when I say personal brand, I mean your personal, professional brand. You're not building it out. You're not speaking anywhere. You're not writing anywhere. You're not doing any videos. You're not collaborating in the community. You're not networking. You're not doing any of that. You have to build out your own brand. It has to be that if somebody says, I'm gonna let you go, that, you know, five or six who would love to have you because they've experienced your brand. They've seen what you do, They've seen your work ethic. They see what you bring to the table. They see what you can bring if you come to work with them. And they're like, oh, my gosh, they let you go. Come on. You have to build out your personal brand. You have to. You have to build that out. Okay? The fourth thing is you don't market your business. One of the amazing things that happened in the COVID 19 pandemic is doctors go like, oh, my gosh, the phones are not ringing because we didn't do marketing. We just sat and received the patients. And now the patients are not coming, right? They're not calling because they're scared, you know, am I gonna pick up Covid in your office? And now you realize, wait a minute, I have to market. I have to go out there and say, hey, these are the things I've done to make the office safe for you to come in. Hey, Johnny needs shots. You wanna bring him in? Hey, Mr. Smith, you have hypertension. We haven't seen you in three months. You don't have refills. We can do a telemedicine. You find you have. You have to go out there, you have to speak, you have to do videos. You have to ask for referrals. You have to do all these things. So if you're not marketing and you're like, I just hate that stuff, then you're in the blockbuster era. Now you know that I'm an introverted introvert. Well, that's what I used to be, but. Introverted, introvert, Shy, hated. Marketing, phlegmatic. At my core, hated, you know, anything that rocks the boat. Like, oh, my gosh, Right? So if I tell you have to market, you best believe that I'm here to support you, to learn to become a great marketer with. No, not. Not sleazy. Like, not sleazy Car salesman. Don't care what you really want. Just might want my commission check. Kind of marketer, right? But somebody who serves somebody who has a passion to help people. Showing you how to get people to work with you. Right? Because they will thank you. My clients that I've worked with, I mean, if you take a business from X to 10X, you love your coach, right? You love your coach. If you have always dreamed of a business but couldn't even begin to figure out where to start and your coach led you on that journey, you love your coach. People won't be mad at you because you marketed. I mean, if you have a good product, they want it. All right? So if you're not marketing, it is just a sign that you're in the blockbuster era. But together we'll work on it and get you out of there. Okay? But if you're not marketing, just own up to it. I'm not. And I hate it. And I don't want to do it, but I'm willing to learn, and we'll take it from there. Okay? All right. So the fifth thing is. This is your thought. You think medicine will go back to the way it was? You think it will go back to the way it was? It's never going back. You think a time will come when administrators will be nicer to doctors. That's not going to come. You think there's a time where everything will just go back and the phones will ring and everything. No, no, no. It's not going back. It may not stay the way it is now, but it's not going back to the way it was. So if you're holding out and you're not changing and you're not reinventing and you're not going on the offense and you're not doing any of that because you're just like, I'm gonna ride this out. I'm gonna close my eyes and go to bed and I'm gonna wake up. When this goes back to the way things used to be, it's gonna be a shock because it's not going back. That's a sign. That's a Blockbuster thought. That's like, I can't wait for people to get over this. I want to stream a video from my house and come back to borrow DVDs from the store. That is never going to happen. Never. Okay? It is time to take back the controls. It is time to get back to the table. It is time to get back in the driver's seat. We can't roll over. We can't play dead. That is over. Completely over. So I want you to embrace change. I want you to embrace the fact that you're gonna have to reinvent yourself. I want you to embrace the fact that you're gonna have to learn new skills. When I was done with residency in 2008, I was like, I'm done. Like, I. Oh, my gosh, I need to celebrate. I'm done. I have learned everything I'm gonna learn in my life. I mean, I still read and stuff, you know, but I was like, I'm done. Little did I know, you know, like, I have trained to become a great clinician. Now it's time to train to become a great entrepreneur, because the person who owns the business systems wins. That's always the way it works. So as a physician, you are a really good technician, but the person who runs the business, you know, the business system will always run the technician. So in order to be in charge, you have to have both skills. You really just do have to have both skills. Okay, all right, so I did this not to make you go like, oh, my gosh, it's such a mess. I'm such a mess. No, I did this for you to say, you know what? I am not going to be a blockbuster. I am going to be a Netflix. Okay? So I am going to change. I'm going to stop depending on people to take care of stuff to the extent that I have no idea what is going on. I am going to stop doing the bare minimum, and I'm going to recognize that I work for me, Incorporated. I. I am going to build out my own personal brand and build out, you know, a name for myself, and I'm going to market my business, which is not a sleazy thing, but is helping people who need my services find me. Okay? And I'm not going to deceive myself into thinking that everything's going to go back to the way it used to be, because it is not. I am ready for the change. I can take it. I'm Netflix, and I'm going to come out on top of. Okay, so this is just to make you go like, ra, ra, ra, ra. Okay? And part of the reason why I'm super excited, if you're listening to this podcast, is that we have Entre MD Live coming. And Entre MD Live is all about putting doctors back in the driver's seat, putting doctors back at the head of the table, or helping them build their own table. Okay? You are going to be in a room. It's a virtual room, but you are going to Be in a room with a group of doctors who is enough. We're gonna do what it takes. I'm gonna show you my stuff behind the scenes. I'm gonna show you marketing strategies that work. I'm gonna show you how to market professionally in such a classy way that's not a sleazy car salesman kind of stuff. I am going to show you the beginning to an end, the anatomy of a business and how to go from one step to the other. You are going to get to meet doctors who started off afraid of entrepreneurship or were working in businesses that for years that were. You're going to hear success stories. You're going to see doctors just like you crushing it. You are going to leave that event ready and empowered and with the right community to start a brand new journey for yourself and to be right smack in the middle of the lane as a Netflix stock. Okay, so entre md.com events. You want to get your ticket, save your seat now. You don't have to fly in. You don't have to get a hotel. It's over the weekend, so you don't need a day off. Off. If you need a day off, take it. Okay? But this will be a game changer for you. Okay? So my dream for doctors is that we move away from being burned out. We move away from being cogs in the wheel. We move away from being at the mercy of corporate medicine. We move away from having businesses but not being able to figure out how to make it profitable. We move away from not being able to build businesses that give us time to live the way we want to and time to practice medicine the way we want to. That's my dream that we move away from that and finally come to that place where we have the dreams that we had when we started off this journey. We dreamed that we could help people and that we would be rewarded for it so that we can live a great life. That's my dream for you. Okay? So what I want you to do today is go get your tickets and go get a doctor friend to get their ticket too. And then we are going to get on this journey and build the career of our dreams. Thank you for listening. I'll see you on the next episode.

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