How I Bounce Back Quickly from Setbacks

There are many businesses that will never reach the seven figure mark or will never go beyond the seven figure mark because they don't know how to respond to setbacks. There are businesses that can never become what the visionary sees them becoming because they can't respond to setback. Today we are going to talk about what I consider a superpower of superpowers for entrepreneurs, which is how to bounce back from setbacks. Okay. When I first started my journey as an entrepreneur, I thought if I did things right, if I did things the way I was supposed to, then everything would just work out smoothly and nothing could be further from the truth. The truth of the matter is the entrepreneurial experience is more of a mountain and valley. A mountain and valley. A mountain and valley type experience. And if you understand this and you understand how to respond when the inevitable valleys show up, you'll be well on your way to thriving as a physician entrepreneur. Okay, so when we lack the ability to respond to setbacks properly, it is so expensive. Okay, so let me give you an example. Now, our results as entrepreneurs typically are show up 90 days after we put in the effort. Now, of course, this is a random number, but just understand what I mean. And so if we think about the year in day blocks and quarters, we can say Q1, Q2, Q3, Q4, for every single year, chances are your results in Q1 are a result of what you did in Q4 the preceding year. Your results in Q2 are result of what you did in Q1. The dangerous thing about that is when you stop taking action, stop doing what you need to do. Chances are you continue to get results and things. So you think you're getting away with it. And because you think you're getting away with it, you do for a whole quarter. And then, boom, it hits and you're like, wait, how did everything dry up? This happens a lot with entrepreneurs when they start experiencing success. So say you have a private practice and your schedule is full and now you have a wait list. Or you're a coach and you have, you know, more people than you usually have. And then you slow down on selling and you slow down on marketing. Slow down all of those things. But guess what? The result continues. People still come to your clinic. People still are, you know, requesting you as a coach. Then 90 days later, it's like radio silence. I've seen this. I cannot count how many times I've seen this. And so you want to think of this like, when I have a setback and I take 90 days to get myself back up I've given up a quarter of results and it's going to show up later. Right? Okay. So we don't want to take too long to recover from setbacks. Now with setbacks trip us up. Chances are they will. With setbacks put things in motion where maybe you're not getting results the way you used to. Yeah, chances are they will. So I'm not trying to say, you know, just push through whatever happens. That's not what I'm saying. But what I am saying is take the time, but don't take too much time. Okay. All right, so what could this be? When we say setbacks, what do we mean? It could be anything. It could be something as significant as you run a, you run a private practice and the insurance company that most of your patients use decide that you're not out of network. Right. It could be a team member leaving. It could be a one star review. I remember when I got my one first, my first star review, my first one star review. I was out of commission for about three days. And when I say out of commission, I don't mean I didn't go to work. It doesn't mean I was sitting around sulking. But I just didn't have that drive to keep going because I'm like, you know, this is not really appreciated or what I'm doing is not really that good. And the more I push, the more I'll be fine. Found out, which was not true. But it's mind drama. That's. That's what it is. Right? It could be, you know, you had a vendor, an important vendor that backed out. You could be, you had a launch that didn't do well. You're expecting to get 20 new clients and you got two. Okay, been there, done that. I have 72,000 T shirts. Okay? It could be, and this is, it could even be personal challenges. So it has nothing to do with your business, but life is life in. Right. It could be personal challenges. Maybe somebody's sick, maybe you're sick, like, you know, things like that. This is also a personal challenge, but I want to put it out separately, which could be, it could be something upside down with your personal finance. It has nothing like, so there are cash flows, problems in your life, but it's not from your business, it's from your personal finances. Right. It could be any of those things. And so when those things happen. Notice I didn't say if. When those things happen, what do you do? What is your response? That's what we're going to talk about because it Is too expensive to take forever to respond. We want to have a system that we use. Right? Okay. So I'll tell you what I've done, what has worked for me over the years, and I've had this, right? I've had important team members leave. I've had important clients leave. I've had one star reviews. I've had. I've had bad. I wouldn't even call them bad launches. That's not the language I would use. Right. Because everything is a learning opportunity for me. But I've had launches that did not perform as well as I wanted them to perform and things like that. Yeah. So I've had. I've had all of them. Right. And. But I've been an entrepreneur for 15 years. So the question now is, you know, how do I respond to those? Okay. Okay. So the first thing. The first thing I do, and I want to invite everyone to do, and I'm going to show you how to make it a habit is I put. I put the challenge in perspective. I put the quote unquote setback in perspective. Because what we usually do is we make it a whole catastrophe. So a client left and it's like, oh, my goodness, now business is falling apart. Because if 10 more people leave like them and blah, blah, blah, blah, blah, right? Someone left a one star view. Oh, my practice is, is that, you know, is. Is not up to par. You know, I'm so ashamed and all of those things. A team, a team member leaves. Right. Maybe our business is not good enough. And maybe the rest of the people have also been planning to leave and they're also going to leave. I'm not going to have anybody to work with. And practice is going to fall apart like that. A lot of times that's what we do. Okay. Now if you're also, in addition to that into, in addition to this, like me and your Enneagram Six. Enneagram Sixers are people who have what was described as pre traumatic stress disorder. Okay. So we can take anything and like make it into this magnificent, awful disaster, like in the undisciplined state. So I don't let my mind do that anymore. But then you're really gonna make a whole thing out of it. Okay. So you want to put it in proper perspective. Okay? So we have a team of eight. We had somebody who left, okay. And, and the per. And sometimes it's like the person has been here for two years, three years, five years, right? And all of that stuff. So that is what is happening. That's the true Nature of what is happening. We have a client that, you know, used to, was working with us and then midway they left. Okay. But in the grand scheme of events, we have 40 people. So one out of 40 left. Okay. We had a one star review. Well, but we also have 99, five star reviews or we have 2,000 patients who can write us reviews. Right? Like, so we put all of these things in, like, like just put it in its, its proper place. Okay. Why is this important? Because if, if we feel like nothing is working, we're going to stop working because there's no reward for doing the work. Right. We have to understand that it's working. It's always working. And there's a way and there's an opportunity and all of those kind of things. Right? Okay. So if we find ourselves there, we put it, put it in perspective. But I do want to tell you of a habit that I've built that kind of keeps me in that state. I'm not saying like I don't have days where, you know, I think a day, like even yesterday actually I had three, four, five things. Boom, boom, boom, boom, boom, that are set back key. They're not true setbacks. Right? Setbacky. That happened and I had to do what I'm telling you to do. Okay, so did I have a moment where it's like, oh man, you know, like, of course I'm a human being, but I'm not there anymore and it was yesterday. Like, I'm not gonna live there. I'm just not. It's too expensive. So what do I do? I have a very solid gratitude practice. I used to, I used to think gratitude was this softy thing that people just did so they can feel good. No, ma'. Am. No, sir, that is not what that is. That is not what that is at all. I. I take the time to be grateful for the things that I have, right? Like for where I find myself. I grateful for my team. I'm grateful for the fact that I have multiple companies. I'm grateful we made the Inc. 5000 list of fastest growing companies. I'm grateful that we're growing. I'm grateful. I'm grateful for every one of these things. Every single one of them. I'm grateful for the books we've written. I'm grateful for the clients we've had the opportunity of serving. I'm grateful for the wins that they've created, the brand new lives that they have. I'm grateful for everyone who listens to the entrepreneur podcast. I practice gratitude. I practice living in awe of the life I have right now on the way to the life that I'm creating. I practice it, okay? And what that has done is that it has put me in a position where, yes, there are things that are happening, but it's easier for me to put it in its proper perspective instead of just catastrophizing, like, oh, my goodness, right? You know, so that's the first thing. The second thing I do is I reconnect with my vision. And the reason why this is very important for me is because if you are not intentional about keeping your vision in front of you, circumstances will beat it out of you. You're saying, I'm going to build this kind of practice. I'm going to have this kind of team. And you're building the team you think you need. And you're like, man, I need one more key player. And as you're working on that key player, the. The highest capacity person you have on the team, you have already says, oh, I found another job. And if that happens, and then your biller dropped the ball and. And their biller dropped the ball and a patient left you a one star review. Like, you're just like, nothing is working. Throw it all away, right? It will beat that vision out of you. It's like, you're never going to get there, so forget it. And so I re. I recognize what it is, okay? I recognize that a lot of times the circumstance is not as much of a problem as what the circumstance does to you. It makes you believe you can't do it. Right? And so I intentionally. I intentionally re. Engage with my vision, re engage with where I'm going, right? It's like the gps, I'm making sure the right address is there. Like the circumstances didn't go to make that the new address, right? And what that does is, again, it takes the challenge I'm facing or the quote, unquote setback and puts it in perspective, which is what we want, right? So that's the thing that I do. And again, it's something I make a habit of. And so every day is one of. It's part of my morning routine. I'm looking at, where am I going? Where am I going? What am I trying to accomplish? Where am I going? The more I am in tune with that, I see the setback of what it truly is. It's a stepping stone. It's a, you know, it's a bump in the way, something I have to overcome. As I overcome it, I build more muscle, all of those kind of Things. Okay, so that's the second thing I do. And I hope this, like, pretty please, this is one of these ones. I would really love for you to take a screenshot and post it on social media and, you know, like, share your biggest. Aha. Share what you're getting out of this, because I'd really love to know that it's helping. Okay, so hashtag ontarim D so we can find the post. Okay. Or you can tag me, you know, well, whichever platform it is. The third thing I do, and this is really important, I decode what the actual problem is, right? Because when the circumstances shows, like, oh, my goodness, nothing's working, and I call that an entrepreneurial temper tantrum. Okay? The best of us have had this, so I call it an entrepreneur attempt. But. But it's not helpful because if you don't know what the problem is, you can't fix it. If you don't know what the problem is, you can't. You can't make a difference. Right? And so I have to stop and say, okay, what is the problem, though? So, yes, I feel bad. Yes, this didn't go according to plan, but what is the problem? So, for instance, we had a time when, you know, we didn't have a very stable team. Like, people would stay nine months, a year. They'd be, you know, all those kind of things. And then we got a really stable team, and it was so fun. And then Covid hit. Okay. And then Kobe hits. And it was like we had a revolving door and people were leaving all that. And I could have said, oh, my goodness, everybody's leaving catastrophe. We don't do that. Okay, you're on trend. We don't do that. So I'm like, okay, well, I put the challenge in perspective. Okay, so we have a company. We have a company that's doing well. We have a company that has longevity, all of those things, and is evidence. It's a great place to work. And we have a team member who left. That's what. That's. That's what happened. Nothing more than that. That's what happened. Okay. Reengage with the vision. Where are we going? We're trying to build this company where we provide expert medical care with unparalleled customer service in a profitable way. Where, like, with my team, my vision for my team is when they come and they leave, or when they come, they're like, man, I experienced the most personal, professional growth in this place than anywhere else. I want them to love their jobs. Like, they work hard at work, but they love their jobs. It's not a toxic environment and stuff like that. And then for the patients, oh, my goodness, they get great care, all of that. So I reconnect with the vision and I come to decode what is the actual problem, okay? And so I start researching the problem because I'm like, we've, we've been, okay, so what's going on here? It's not the work environment. It's not the work environment at all. It was the beginning of the great resignation, right? And then people are just, you know, Covid forced them to stop long enough to say, okay, is this what I really want out of my life? Do I want to try something different? There's a whole online thing. Do I want to start an online business? And all of this stuff. And so I recognize, oh, the problem here is that the world, the workforce is just in a completely different state. And the things that used to matter, a stable job, a certain pay, all the. They don't matter as much, right? That's the problem. See now, but figuring out that problem put me in a position where I could solve the problem. Okay, you get a one star review. Oh, my goodness. Okay, great. But now they have, what's the problem? Okay? And you go and you look at it. So maybe it was. There was miscommunication with the team and you're like, okay, so that's what the problem is. Maybe it's that that person didn't want to pay their copay and they told your team, if you guys don't see me, even though I don't want to pay my copay, I am going to go leave you a one star review. So if you don't know what the problem is, you can't fix it. Okay, okay, so maybe you're like, man, there's so much financial pressure. Oh, my goodness. Nothing is working. The business is not working. And that's not helpful. And you stop, like, what is the actual problem? My business has grown 140% in the last six months. So guess what? The business is not the problem right now. In my personal life, I probably bit off a lot more than I could chew. And so I have pressure in my personal life, and I'm taking it out on the business that's not yet at a stage where it can pay that level of stuff for my personal life. Then you're not like, okay, let's separate these two so we don't kill the business because we think there's a financial problem in the business when there's nothing wrong with the business, the financial problems in my personal life. You guys see what I'm saying? Like, you have to find. You have to get the diagnosis the same way as a pediatrician. I won't just see a kid. I'm like, oh, kid. And then prescribe some amoxicillin and send them home. I have to do. I have to run diagnostics. I have to see what the problem is so I can fix the problem. Okay, so that's number three. That's number three. Do we decode this right here? Being able to be calm enough to sit down and say, okay, what is the actual problem? This will put you in a position where you'll be a much better problem solver. You'll train your team to be much better problem solvers, and you will get out of setback so quick, relatively, because you understand how to find and solve the problem. Okay? Number four is develop a path to the solution. So now that we know what the problem is, how are we going to get out of the problem? Okay, so, and. And once we do, we relentlessly execute. Okay, so I'm not going to talk about execution, but so let's go back to the examples that we used. All right, so we. We find what was the setback. Team members are leaving. Okay, what's the problem? We're in the great resignation. People's values have changed. People are exploring like, oh, you know, what else do I want to do with my life? And all of that stuff. What is the solution? So for us, the solution became, okay, they're no longer motivated by whatever we're paying them or even many dollars above that. They're no longer looking for stability. Like, people are quitting and starting like no man's business. And so we said, okay, we need to find people with whom we can create a win, win situation. Meaning we want somebody who can come, who can do good work, is reliable, and all of that stuff. So we need to find somebody who wants what we have. Okay? And so we thought about it and we said, okay, the people who are medical students, pre MP students, pre nursing students, pre PA students, they want clinical experience, which we can give them. They're not necessarily looking for a salary, per se, right, because they did these things as rotations. But we're like, well, we can train them to work and we can pay them, which they would love, and we can give them letters of recommendation. So now, because we know what the problem is, we know who we can find. And if we can find these people, it's a match made in heaven. You're not going to have them forever. You may have them for a year, two years or three years. By the time you do have them, they bring their A game because you're giving them exactly what they want. And so then we then built it where, yes, we still had our mas and all that stuff. We, but we had these other people and we built a system to train them. Like within two weeks they were ready to go, right? And so now we had a solution to the problem. And that was the solution that served us and served us so, so, so, so well. Continues to serve us so well. And I've taught so many of our clients the same thing. Okay, okay. With the, with the one star review, okay, we find out that, oh, there was some miscommunication. Then we go back and we're like, okay, okay guys, this is a thing that happened. This is the way we're solving it and that's over. You find out it was because somebody didn't want to pay their copay. Not a whole lot you can do about that other than communicate even more that your copay will be required at the time of service. Okay? But people do that. People, people weaponize reviews. But regardless of what you choose, for 99.99999999% of physicians, it's a small fraction of people who are angry and it's a big percentage of people who are excited about you. But the thing is they're not going to of their own free will, just go leave a review. And so if you got this one star review, you want to figure out whatever was the thing and fix that. And then you want to reach out to your community and have them dilute that and flood your Google business profile with five star reviews. Now we had a doctor who did this flawlessly, was so beautiful. Okay, so she had a person who left a one star review. I don't remember what it was, but if I remember correctly, it was weaponized. Right? Like I'm going to, I'm going to go leave you a one star review. Like, you know, that's what they do. Okay. And so she, she sends out an email to her client, her patient base, and she says, you know, this, this is what, you know, this is what is going on. And I wanted to reach out to you guys because, yeah, that's great. That person said there's what many of you absolutely love us and you haven't left us a review. I don't think that's exactly how she worded it. I don't remember what it was, but she sends it out. I don't remember. She got a ton, maybe 4050 new reviews, five star reviews. So grateful for the work that she, she did. Do you see how, you know, you see how you problem solve that? Okay. Okay. And then number five, or maybe we talk, talk about the personal finance one, right? So the personal finance one, that could be. You started a business, the business is doing what it needs to do, but the business is a newborn, okay? So maybe the business is a newborn, is a 1 year old or whatever and you're trying to mount the weight of your life, the funding of your life and paying off of debt and all that on a business that just can't, can't do that, right? So once you've come up with that diagnosis, you can say, okay, you know, I could take out a loan. You don't have to. I can self fund. I could pick up a locum shift a month and it would take care of my bills or whatever, or two locum shifts a month, or three locum shifts a month. It'll take care of all of that. So I could give my business the breathing space it needs to grow, right? It could be that man I'm digging this hole with, you know, some place I'm throwing my personal finances, I'm like, I'm done, I'm done throwing things down the hole, right? Okay. So number five. Number five is very, very important. I am not a fan of going through challenges, going through setbacks, going through difficult times by myself. I don't do it. I don't do it. I learned this so long ago because I figured, I said, you know what? I used to be a very moody person. I get moody, I get sad. I got like all the things, like I was something, Now I have options. I have options. I could, I could be the person who stays sad for 2 months or I could be the person who would lean into my community, could get help, could get support. Some of it is emotional support. Some of it is ideas on how I can solve the problem somebody can brainstorm with. Some of it could just be a place where I can go and laugh and forget about things for a little bit. Some of it could be people who have been through what I've been through, who could share their stories and how they came out of it so I could be encouraged. Some of it could just be the team that I have that's like, okay, this is a challenge we're facing and we're all going to solve it and it's going to be great. But I Don't go through things alone. And so number five is get the help you need. Get the help you. This is one of the reasons why in the entrepreneur business school, I was so bent on building a supportive community. Because going through a challenge, like, we're all going to go through challenges, but going through a challenge with, you know, other people who get it and who are there for you and who are rooting for you and who will support you and who will connect you with the right people and, and all of that stuff, it's. It's a game changer. And so when I'm not at my best, when I'm not at my strongest, I lean on my community, I lean on my people, I lean on my inner circle, I lean on my team. I don't try. I. I have like, I am very aware that there's no award for doing it by yourself, so I don't try to do it by myself at all. At all. Yeah. So I want you to take these five things. They will serve you well. There are many businesses that will never reach the seven figure mark or will never go beyond the seven figure mark because they don't know how to respond to setbacks. There are businesses that can never become what the visionary sees them becoming because they can't respond to setbacks. And so I want to invite you to be the person who puts it in perspective, who re. Engages with vision, who decodes what the actual problem is, develops a pathway and leans on their community. I want to invite you to be that person. It will change your business. It will make everything so much better. And I'd love to celebrate every single one of those things with you. So start implementing, start practicing this right away. Invite the people in your world to define who your inner circle is already so that when the next challenge shows up, you'll be ready and you handle it like a champ. I can't wait to hear all about it. Rooting for you. See you on the next episode.