The 4 Things That Stop Doctors from Crossing $100K in Revenue

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'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. Unna. Well, hello my friend. Welcome back to another episode of the On Trendy podcast. As always, I am super pumped to be your ears. I'm really, really grateful that this is my life, this is the legacy I get to leave that get to support you to help you build a thriving, profitable business. You know, six figures, seven figures, multiple seven figures, wherever you want to take it to, so that you have the freedom to live life and practice medicine on your terms. Where you can get away from the lies that have been sold as you can get away from the state of things where there's a loss of autonomy, where there's all this burnout, where doctors are like, yeah, you shouldn't come into medicine. This is not the profession for you, where there's no financial security and to really help you create your own dream life. Right? And so I'm super honored that I get to do this and thank you for listening and thank you for sharing this podcast with the other doctors in your life and for leaving reviews. If you have not left a review, this is a great day to do that. And if you have not shared this, this is an episode to share. And you know, this is one of those I Just want to come and tell you what is going on with me type of episodes. And you're going to get a lot out of it. But I wanted to share that with you. The backstory of this is, you know, every year, well, it's actually more frequently than every year. But every year I have a big meeting with the Entre MD Business school. We call it the, you know, the EBS State of the Union address. Okay. And I'll kind of talk about, you know, what our plans were for the previous, the things that we actually did accomplish and what the school is going to look like in the new year. And so for, for 2023, one of the things we talked about was creating this thing called 100k boot camp within the Entrepreneur Business School. And the reason for that is because, you know, in the grand scheme of events, when you start develop revenue confidence and you're making so much more money, you realize that making the first hundred K sometimes is the hardest because of these hurdles that you have to overcome. And there's a lot of personal transformation you have to experience to get in this space where you identify as an entrepreneur and things like that. And I was like, you know what, I want to fast track that because my whole goal is to help doctors, you know, build six and seven figure businesses. So I'm looking for a high percentage, maybe I'll talk about what the percentage is later. But a high percentage of people who've crossed that. Now we have many people who've crossed seven figures, multiple seven figures and all of those things. But for the, what we call the ENTREMD Business School, the EBS Commonwealth, I'm like, I want as many people as possible, you know, past the six figure mark for sure. And I'm like, I just want to support, you know, doctors on that. And even if you're listening to this and you're like, well, I've crossed that. I don't need this. You actually do. Right. Because you're going to build different, you're going to build different verticals. Most likely many of you will go on to build different businesses and you're going to find yourself back here. I have some, you know, clients who have built multiple seven figure businesses, but they want to create their legacy project and they have to start this over and they're like, oh my goodness, how do I do this? Right? And so here I'm supporting them on something that they've conquered so many times over in other industries. But yeah, you may decide to do something else and you have to retool and learn new skills. And one of the most important things is imagine being able to support your team and help your team to do these same things, right? And so whether that's a private practice and you know, how you built a panel and did all this and build the referral sources and all of that so you could start crossing milestones. You want to stay on top of how to do this so you can coach your team through it. If you're a coach, the same thing, right? So the 100k boot camp and really important because it's just, you know, once you get that it's the other parts, they're still, still work, but it becomes easier, you know. So anyway, so I wanted to, you know, I was, I'm working on it because it's going to have a whole detailed questionnaire, it's going to be a case study style and you know, I'm working on all of those things and I was pulling out what the four main hurdles are like the four main things you need to tackle on your way to $100,000. And so I figured, you know, I'd come share that with you. And so, and you know, before I even get into that, I will say this, this is not in any way a sales pitch. It just is what it is. I finally come to terms with who the entre business school will be a perfect fit for. And it really will be a perfect fit for the person who wants to build a six, seven, multiple seven figure business. I cannot wait to say eight. You know, that's what they, they want to build and they're willing to put in the work and they're committed to it and it doesn't matter what the business is like. So the person could be an entrepreneur. We have a do on Trinity Business school who's already crossed six figures. Like in the first month of the year he had crossed six figures in, you know, brand ambassador spots. And he's, you know, he's, he's working a job, you know what I mean? And so, but because he understands how to build out, you know, like his own brand and things like that. So it doesn't matter if the person is an, if the person is an entrepreneur or owns a private practice or is a coach or a speaker, a consultant, other service based industry, it doesn't really matter. But if that's what they want to do and they're not going to stop till they do it, that's the person the school is for. You know what I mean? And so if the school is for you, I'm telling you, we've refined it. We've, we've put so much into it. The doctors in it are getting great results. There is a place for you. I know you may be wondering what if and what if? But you know, this is a time to bet on you. And so if you've been thinking about it and you fit this, if like if you want to dabble, you'll be so upset, you'll hate the business school because not for dabblers. It's not for, hey, I want to. Just want to see. No, if you know, you want to do this right? And so ontrend.com forward/business, go turn in an application. Be happy to welcome you to school. Looking forward to supporting you on your journey. Okay, so go turn your application onto. Com forward slash business. Okay, so let's talk about this. Four things now. Number one is really number two. 1, 2, 3, 4, 5, 6, 7, 8, 9, 10. Right. Number one is the mindset. Oh my goodness. Especially if this is your first, like you're not building a second vertical. This is actually your first business. There is an internal transformation that needs to happen to take you from physician to physician entrepreneur. And you may be listening to this. It doesn't matter actually if you've crossed this or not. If you haven't made this transition, if you make the transition, it will create dramatic transformation in your business. It really, really well. And so it's the mindset like I am an entrepreneur, okay. If you have hang ups around money, like if I want more money, I'm greedy, right? That's a mindset you to work through, right? Because it doesn't make you greedy. You might if you're hearing, you think like, I can't, like why would anybody want to pay me? The mindset work to understand your value and the value you bring to the marketplace. The value, the, the, the outcome that your work creates in the lives of other people so you can own it and say, this is how much right? It is the mindset of I'm an entrepreneur and entrepreneurship is an economic game. I need to get comfortable talking about money. I need to get comfortable charging money. I need to be comfortable overcoming people's objections about money. I need to be comfortable like it's an economic game. And so it's like, you know, saying, I want to play soccer, but I don't want to touch the soccer ball or I want to play basketball, I don't want to touch the basket. You know, I wanted to play golf, but I don't want to touch the Golf clubs. No. Business is an economic gang, okay? And so it's really the mindset around that. The mindset of, you know, who would want to work for me? Right? That's another mindset that needs to be overcome. Who would want to work for me Is my stuff that work with me? Is my stuff that good? There are all these things, right? The mindset of failure is not final. Failure means you learned a lesson. Fail. Fear means you're on the boundary of your comfort zone and, you know, you just need to be nervous and excited is not a bad thing. That's actually where all the magic happens. Like all these mindset shifts. That's the starting point. Because every single one will stop you. I had a client who was afraid of success. We would work together every week and we'd work through mindset stuff and work through tactics and work through strategy and all of that stuff. And, you know, she kept holding back. And I'm like, my goodness, what is this? And finally she was like, I'm afraid. I'm afraid of what will happen to my life if I succeed. Right? And so she was self sabotaging why she was afraid of being successful. If you don't think people will pay you money, you may say that's your marketing and you're selling, but really you're not because you don't. There's no way to develop the confidence. There's no way to show up and feel authentic because you feel like a fraud, because you're offering something you don't even believe in. You see what I'm saying? So it's all that mindset stuff. And on the on trendy podcast, you know, I tell people, especially people who are new at entrepreneurship, I say, just immerse yourself in it. Just make a date with it. You know, like when I'm taking showers, when I'm driving to work, when I'm walking the dog and all that. Just immerse yourself. I do a lot of conversations around this. I bring on a lot of guests to tell their stories around this. Why? So you can overcome that hurdle. Because it will stop you in your tracks every single time. Okay, so the first area is mindset, right? It's mindset. And you might go like, oh, that's woo, woo. I just want to know what to do. No, you can know what to do. But if on the inside you have all these things going on, you're not going to show up and do that. Okay, all right. And I'm saying this based on, you know, I'm a serial entrepreneur. So I've done this whole hundred k thing multiple, multiple times, including last year when I acquired a marketing company. And we had to do that. And it was so much fun. We did it in a month. It was so much fun. But anyway, so mindset, right? Mindset number one. That's the starting point. Number two is marketing. And this is one of the things that I, I mean, the level of resistance to this. I can't tell you how many times people are like, how can I do this without marketing? I don't want to market. I just have a good product and I want people to get it. And I'm like, the day you figure out how to build a wildly successful business without marketing, let us know because we will give you a Nobel Peace Prize. Okay? When you are starting, more than any other time in your business, this is the life cycle of a business. But more than any other time in business, when you are starting is when you are most obscure. Nobody knows who you are. There are thousands, probably tens of thousands of people who will pay for your services, who love your services, who, you know, who are, who are crying, looking for a solution that you offer, but they have no idea you exist. When you're starting, when you're trying to hit your first hundred k or your second 100k or new hundred k in a new vertical, you really, really, really need to go all in on ending obscurity, like telling everybody you're there. I have people like, I don't know. I want my family to know what I do. I don't want my friends to know what I do. I don't want my colleagues to know what I do. But usually you start from that closest circle and work your way out. You know what I mean? But the bottom line is there is no thriving business without marketing, right? We have to go out there, and we have to go out there long enough, often enough, until the obscurity breaks, right? Rory Vaden calls this the she hands wall. Okay? He says, you know, there's a wall and there's the unknowns on one side of the wall and there's the knowns on the other side of the wall, right? And so when you think about coaching that industry, that people who are known, when you think about private practice, investing, there are people who are known. When you think about phone companies, there are people that are known. When you think about computer companies, that people that are known, they're on one side of the wall. On the other side of the wall are these people who they may have a really great service, really Great product, but nobody knows they exist. Nobody. The prize for breaking through that wall is consistency. Long enough. Just think about you hitting at a wall. You don't go hitting at different portions of the wall. If you want to get the wall to come down, you take one spot and you keep hitting at it until that's what you do with your marketing message. This is who I am. This is who I help. This is a problem they have. This is, you know, and I solve it so their lives can look like this on the other side of working with me. And these are things you would do by talking to personal contacts, by networking, by asking for referrals, by showing up on other people' platforms, whether that's to speak at events, to be a guest on a podcast, to be on an IG Facebook Live. But you are constantly out there, out there ending obscurity, getting new people to find you, people to find out about what you do. And you do it until you become a no. Okay? And I find a lot of resistance to this, right? Because of course it's uncomfortable. It's so much easier to hide behind a computer. It's so much easier to create graphics, so much easier to work on your website. It's so much easier to sit and plan, right? And plan to plan to plan to plan to do what you're supposed to do. And how do I know? Because I've done this, I know it's so much easier to do that. Okay? And so the first thing is the mindset. The second thing is the marketing. A hurdle that must be overcome. The third one is selling, right? This is where the direct ask, like, come work with me. I have met entrepreneurs who do whole webinars, and when it gets to the time to ask, they're like, and so I just decided not to ask. And then they're upset. They don't have any clients. I'm like, how? How are they supposed to say yes? You didn't tell them what you do. You didn't tell them how they can work with you. You didn't tell them why they should work with you. They didn't tell them why they should work with you. Now, how are they going to say yes, right? And so this is a direct ask. So I want you to think about private practice. If you're looking for this kind of doctor, I am the one for the job. Dr. Tolu Olapinton, who is a rock star student of the Entrepreneur Business School. She says, if you're looking for a doctor in the Mansfield, Texas, area, I am. She write all her social media posts and. And like that. Okay, so you have, well, most of them. So you have a direct call to action, a direct ask to work with you. A direct ask. So that could be on a webinar, a masterclass, a livestream, a social media post on the phone, at an event, wherever, right where you're meeting people. You're like, work with me. This could even be people you've worked with before. You get on the phone and you're like, work with me again. And they can asking people. And again, this is something, as you go on in your journey, it becomes more and more comfortable. You're less thrown off by it. In the beginning, you're like, is this icky? Is it yucky? Am I bothering people? And all of those things. But you're not. Remember, when you show up to market, when you show up to sell, you're not showing up for everybody. You're showing up for the one person who desperately needs what you do. And you keep talking and asking and talking and asking till you bump into that person. That person's like, oh, my goodness, I've been looking for you this whole time. That's who you show up for, okay? They're going to be people who are like, I don't know why she's doing that. I don't know why he's doing that. That's fine. You're not for them. If you were for them, they would say, yes. Think about your life right now. There is something right now that you're like, I wish I could find somebody who does something like this so they can do it for me. I don't mind paying them XYZ dollars. That's the same way your ideal client is like, I wish I could find somebody who does this. Okay? So on the way to 100k, that hurdle is selling, asking, asking, asking. Understand that selling is service. That's you helping somebody who's looking for a problem find it. You are somebody who helps people who have problems. You lead them to the solution. That is what selling is, okay? And so mindset, marketing, selling number four, pricing. Pricing, okay? And I did a podcast episode. It is called Businesses Math. Okay? Businesses Math. When it comes to pricing, a lot of times people are like, well, I don't want to charge them a lot like the other people. I just want to charge them hundred dollars. And I'm like, okay, business. Business is an economic game, okay? Business is an economic game. It is a game that involves money. It is. The sport is not just the sport of money, but it's a sport of money. Okay? If you are. So I'll give you the most general way of looking at it. If you are doing low ticket, okay? Something that is not a lot, you're not charging a lot, you have to also understand that in order to build your business in a profitable way so it can continue to exist, it also needs to be high volume. Okay? So low ticket, high volume. If you say no, I. What I do is so valuable and it takes so much time and resources and all of that, and you're doing something that's high ticket, it's more expensive, then you can get away with low volume. Okay? So low ticket, high volume, high ticket, low volume. Which one works? They both work. You just have to understand the rules of the game. And so when you say, I am going to charge low ticket and I only want to see a few people, that is called a recipe for disaster. Right? That's what that's called. And so I want you to think in those terms of where you have to charge enough to make sure that your business is profitable. Because profit is what gives you the freedom to continue to be in business. Right? One of the things, you know, when I started my private practice and we were working on the mission statement and all of that, our mission statement says that we provide expert care with unparalleled customer service in a profitable way. The profit is right in the mission statement. And the reason why I put it there is like, I want the whole team to be aware that we will serve people expert as experts. We are going to do deliver it with great customer service. Because at that time there was a lot of, you know, like, you just have to suck it up and wait in a doctor's office and you're a number as opposed to a person and things like that. So we're like, we'll do that. But these two things are going to happen in a profitable way. Why? Because if there's no profit, guess what happens? I cannot make payroll, which means I have to fire my staff. I won't be able to pay any of my bills, which means I need to shut down the practice. And who wins? I don't win. My team doesn't win. My patients don't win. The community where I am, where I pay taxes, they don't win. It is a lose, lose, lose, lose, lose situation when you have a business that's not profitable. So in your pricing, it's not about manufacturing, some pricing, because you're like, I just want to make it low and don't have the pressure of Asking for money, it must be priced in a way that your business will be profitable. Okay? And so in the beginning and the journey to 100k, a lot of times there's a mindset thing going on. There's. I don't want to really market. I want to put myself out there. I'm a private person. I'm an introvert. And there's a bit of. I don't want to ask people or I've asked them before. I don't want to bother people. I don't want people to feel like I'm selling. Guess what? You are selling, right? And it's like, I don't want to charge a lot. You know what I mean? I'm not really in this for the money. I just want to help people. These are all hurdles that you have to overcome on your way to a hundred thousand, okay? Whether it's your first, your next, whatever, and you know, they're hurt that. And it's not like later on, the hurdles are completely different because these, you just become better and better at them, right? You just become a master at these basics and then you can go on and tackle other things like team and processes and all of these other things that, you know, we deal with in the entrepreneur business school. So I wanted to give you, you know, some food for thought. Maybe you're like, I really want to hit 100k, but I'm. I'm not sure what I'm missing. You know, take a look at these things, okay? And you know, start doing some course correction, start doing some editing, start. Have a come to Jesus moment with yourself and go like, ok, am I really, Am I really selling? Like, when was the last time I actually sold? When was the last time I gave a direct call to action? When was the last time I got on the phone with somebody to say, hey, like, what am I doing? Am I just hiding? You know what I mean? Am I hiding? Anyway, you know, that's that. If you're like, man, I'd love to work on that and tweak it and become a master at it. So I get it. Come join us in the entremity business school, okay, on Trembly.com forward/business. We'd love to have you there, but these are the four things. And for everyone that you tweak and work on, your business will get better, okay? And if you do all four, then you're in for a treat, like a big treat. And I can't wait for you to say, oh, my goodness, I listened to that podcast episode I had to come to Jesus meeting with myself. It was so rough because I was not doing the things. I was deceiving myself, hiding behind my computer, hiding behind just social media posts, not really engaging with anybody. And I listened to it and I did the work. And Dr. Una, you will not believe it. And I'll be like, of course I'll believe it. Tell me. And like, I hit 100k, right? And then after that, then we can start adding zeros, right? Added to get seven figures, added to hit eight figures. It's all up to you. If you're like, I don't need that much, it's not about what you need. It's about what you need. It's about what your family will need. It's about the good you can do in the world. Like I say, learn the skill. Learn to make it give it all away. Who cares, right? But learn to the person you become in the process is worth it. Okay, all right. So that's what I have for you. This is one of those. Take a screenshot, share it with the doctors in your life, say, oh, my goodness, you need to take a listen to this. Especially if it's someone who is working on their first a hundred k, or they just built another vertical in their business and they're trying to get that to 100k. They will thank you forever. So thank you so much for listening to this. Share it and I'll see you on the next episode of the Entre MV podcast. Hey, if you love listening to the Entre M podcast, I want to invite you to join Entre MD on Demand. It is my signature subscription program that gives you access to a library of business courses designed to help you do one thing as a physician entrepreneur, and that is to thrive. Just head out to entremd.com forward/on demand, and I'd love to have you join us. See you on the inside.