The physician intrapreneur

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. Hello. Hello doctors, and welcome back to the Entre MD podcast. All right, so grab some coffee or enjoy your ride and let's jump right in. Today we are going to be looking at the physician intrapreneur. You heard me right, not entrepreneur Intrapreneur. And I bring this up because so many people would walk up to me and say, I get it. I want to be an Entre md. I want to be an entrepreneur. I. But I don't want to own a practice and I don't want to start a brick and mortar business. I don't like. I love what I do. I just want to do what I'm doing. And I'm like, you don't have to run a practice. The principle of an Entre MD is that you work for you incorporated. No matter who pays you, you work for you. And you can do that in a job. In fact, I have clients who, who work a job and they apply these same principles I'm about to show you, which would change your life drastically. And if you are a resident, maybe starting off your first job in private practice or anything like that, you are in for a treat. If you are a veteran, you're in for even a bigger treat. So let's get right in. Okay. The principles I'm about to tell you about, I didn't know, but when I had my first job, I practiced them. And I'll tell you exactly what happened with that. So my first job out of residency, I started in October 2008. It was great. I worked for a pediatrician who had a solo practice. So he was a neonatologist. So he primarily worked in the NICU. And because of the number of NICUs he covered, his practice was within the conflict area. Right. So you're a neonatologist. If you see patients in a practice and you're referring to yourself, then you're breaking all these laws and stuff like that. So by contract, he couldn't work in the practice. If he did, it would be a conflict of interest. So he owned the practice. He was forced to just be the CEO of the practice and he hired doctors to work in it. So I was one of those doctors, but I worked by myself. I was there and I kind of acted like it was my own. Even though I was straight salary, there was no bonus structure, there was no partnership track, at least not when I signed a contract and stuff like that. I was straight salary. What I would do is I would show up on time, stay till the end of the day, see patients in a timely manner, good customer service. So I was able to build a panel and overcome the fact that they couldn't see him. They were okay with me. I did some training for the staff. I helped build a kind of company culture. I did some really, really, really light marketing, but I did some marketing. If you remember, I'm an introverted introvert. So I was not going out there to do big, you know, like speaking and stuff like that. I didn't do that. But I did go out to do some stuff. I researched procedures that we could add to what we already did that would improve the bottom line. And I did stuff like that for a year. So I had a one year contract. And when it was time for my contract to be up, he said, you know, let's talk about it. I'd like to give you a five year contract. And you know, it's funny, at the time I was like, in my mind, I was like, oh my goodness. Like residency felt like forever and it's. It only been three years. And I had been married for three years, so I had no concept of five years. I'm like, oh my goodness. But regardless, we were moving and because of the move, I wasn't going to be able to stay on the practice anyway. And when I told him, his very next reaction was like, then you should start your own practice. I'm like, nobody starts to practice a year after residency. Like, that's just not how this works. And he's like, yeah, but everything you need to do for a practice, you're already doing it now. And if you need any help, you can just call me and I'll answer any questions you have. I didn't take him too seriously. But it's funny that eventually one thing led to another, and that's what actually ended up happening. And I started my practice a few months after that. But what was it that made him say? One is, I want to give you a really good deal and keep you for five years. And when he found out he couldn't do it, what. What made him say, oh, if I can't do that, then you just need to start your own practice because you have what it takes. I was an intrapreneur, and I want to show you how to do the same thing. So that wherever you are, you're an asset. It puts you in a position to negotiate better for your company. Dr. U. Incorporated. It puts you in a better position if there's layoffs or anything of that that needs to happen. You're just not included because you're too much of an asset. And you never know where life leads you. If you find yourself where you're not here anymore and you need to start your own thing, you're already equipped to do it. In fact, you owe your boss because you learned on his or her dime. But a physician on intrapreneur is a physician working a job, but who owns their business? Dr. U. Incorporated. Okay, so let me start off by saying that when you're an intrapreneur and you're an entre md, Your boss is your client. I need to get this. Okay, because this is critical. This will. This will change your paradigm. Like, this will change your paradigm completely. When you're an intrapreneur, you are working a job, but you have the mindset of an entre md. Your boss is your client because your business provides services to his or her practice. Or, you know what? I'm just using practice because it's easy to use, but whatever business that is, right? So if you look at it in those terms, it affects how you show up. It affects what you do. It makes you go the extra mile because you know what you're doing. You're working for your company, and you spare no energy because you're working for your company. All right? So your client, the boss who owns this practice, has three major problems. Three major problems. And as an intrapreneur, if you learn to solve these three major problems, you would have positioned yourself in a way that will make your company, you incorporated, do very well. So the first problem they have is they can't find good doctors. If you look on any social media group or you talk to any doctor who employs or whatever, it's always like, man, can't find doctors. Can't find good doctors. Can't find good doctors. That's the number one problem they have. The number two problem they may or may not have is they don't have enough patients. Right? So we want more volume. And even if they do, most people still want more. Right? We want more volume, we want more patients. We want more patients. We want more business. We want our bottom line know. And the third problem is the support staff. Ah. You know, like, there's gossiping, there's strife, there's clicking, there's high turnover, disengaged staff, poorly trained staff. It's hr. You know, most doctors have a really hard time with that. So these are the three main problems that anybody hiring you has. Now, most people are with the old thinking, so they have no idea you can be the answer to all three problems. But you're an entre md so you know you can. And I'm going to show you how to do that, and then you're going to start applying that and you're going to tell me how amazing it turned out for your company, Dr. U Incorporated. Okay, so three main problems. Can't find great doctors. Don't have enough patients, can't manage staff. And your job as the owner of a company is to help your clients, your boss, solve these problems. So number one, how do you fix the problem of they can't find great doctors? Be a great doctor. Okay? This is the starting point. Be a great doctor. What does that mean? It means you're the person who shows up on time. It means you're the one who sees patients in a timely manner. It means that you're the one who follows the clinical guidelines. You do your prior authorizations, you answer your mommy calls. If you're a pediatrician or patient calls, you know, however, that goes for your. For your specialty. You build a following like the patients like you. They're specifically asking for you by name. You build your panel. They love you, okay? So do your job well. Do it well. Don't be the one who makes your boss Slash your clients, you know, think of you at night and have goosebumps, do your job well. Okay? Now you might be saying, you know, you don't understand, you know, my system, my system is bad and all of that stuff. You know, the truth of the matter is you work for you. Okay? So the skills you're going to acquire in the process of doing these things are yours to keep. And if you are in a broken system, you can take your company somewhere else. Okay? So you can. But don't let the broken system stop you from building the skills and doing what you should do. Because remember, you own your company, okay? So you don't let a broken system define you. All right? So you embrace this, no matter the system. And if they will not recognize, pay for it, honor it, treat it well, you can always take your business somewhere else, but you have to do this stuff, okay? So the first thing is you fix their first problem, not being able to find good doctors by doing your job well. All right? Now the second thing is they don't have enough patience. What's your solution? You market the practice, you're like, but it's not my practice. Yes, but it's your business, right? And your boss is your client. And whatever skills you learn, you practice, you develop in the process of marketing that practice. They are your skills to keep. Which means if you have a side gig, you're applying it there and it will thrive. If you go to another practice, you can apply it there and maybe you've negotiated a bonus structure and it will work there. If you apply it, if you learn it, maybe you start your own practice, maybe you start your own non clinical business, maybe you go somewhere else. These are skills that you will take with you. So this is a principle that I don't want you to forget and that is that true wealth is portable. True wealth is not money in the bank account. True wealth is the skills and the habits and the know how and the technology that you use to create wealth. That's the real wealth. Nobody can take it from you. They may take the money, but because you have the skills and the know how and the mindset, you, you can reproduce it. So I want you to think about this, okay? Let's say, let's say we said, Bill Gates, we can't take it anymore. We don't like what you do, okay? We need to level the playing field, okay? And we take one doctor that we really love, Dr. Smith, and we take Dr. Smith's money and give it to Bill Gates and take all of Bill Gates Money, every last dime, and give it to Dr. Smith. I promise you that in 10 years, if that. Probably not that, probably not that at all, all the money would have found its way back to Bill Gates and most of the money would have left Dr. Smith. Because Bill Gates has in him the know how, the knowledge, the mindset, the connections that he used to create the wealth in the first place. That's the real wealth. He has it. So he's going to draw that wealth back to him. And Dr. Smith, if he hasn't figured out how to manage $105 million portfolio, he's going to lose it all because he doesn't have the real wealth. It's not the dollars, it's on the inside. So every skill you develop as an entre MD and you're using it and it seems like it's not benefiting you directly, immediately, it will. It 100% will. So don't hold back and say, it's not my practice, I won't market it. So, for instance, let's say you were an internal medicine doc and you said, you know what? I'm going to need an afternoon off. I can go speak at the Rotary Club. And you talk about, you know, disease prevention, chronic disease prevention, hypertension, high cholesterol, all of that, the obesity crisis and all that. And maybe There are only 15 people in a room. Because when I say speaking, I don't mean 500 people. I mean speaking to a group of people. So if it can be 500, I'm just saying it doesn't have to be. But you speak with them and from there you get three new patients and you go for a BNI meeting and you get four new patients and you go for a chamber of Commerce meeting, you get three new patients. What you're learning how to do is to be a great speaker and how to get business from speaking, right? What your boss slash client gets is that they get more patience, right? And this is data that can be measured. So when it's time for you to renegotiate your contract, you can say, this is how I've affected the bottom line and I want to be reimbursed in this way or I want to have a bonus structure or whatever. You can negotiate that because you were an entrepreneur, you're negotiating for your company, maybe social media, that they don't even have a social media presence. And you build up the social media presence and always mean you need to do everything. But you can spearhead it, right? You're the one who goes out and you're me. You're like, you know, I'm pediatrician, and There are OB GYNs everywhere. And you succeeded in building a solid relationship with three obgyns who are like, you know what? Let's just get them busy, right? And you can show how you directly impacted the practice. If you will do that, you would have solved their second problem, which is they don't have enough patience. The third is can't manage staff. Oh, my God, the staff. They're so crazy and all that stuff. But, hey, what if you learned leadership skills? And leadership is influence. And if you can influence people, they tend not to act as crazy. Okay, what if you were the person who knew? You're like, yeah, I need to be able to influence these people. So you're the person who buys them lunch maybe once a month, may not even cost you anything, because you can even get a rep to do it. But you created that and all that. You're the one who gets thoughtful gifts here and there. You're the one who gives them a little bit of training here and there. And people know that. They don't listen to anybody, but they listen to Dr. Ava, right? The day Dr. Ava is working, they all have great attitudes. They're all coming to work early. They're all staying late. They're all doing what they need to do. Leadership. Right? And it's a learnable skill like every other skill. And you can do it. But I want you to see what an intrapreneur looks like. Your boss is your client. Your boss has three major problems. You fix those three problems. If you fix those three problems, you can negotiate anything. And if they will not work with you, somebody will, right? So I said all that to say, as an entrepreneur, you don't need to quit your job. If you love your job, you can apply the same principles. And if you learn the principles of marketing and leadership and doing a great job, guess what? You're doing the same thing every other entrepreneur needs to learn. So if five years down the line, you say, okay, now I want to do this, Guess what you have. You have the skills to already make it successful. So if you're here and you work a job and you're like, I really want to do this, congratulations, you can do this. And this is your new mindset. My boss is my client. My client has three major problems, and you can sit with them and find out what exactly their problem is. But most bosses have these three problems, and I am going to fix their problems. And based on that, I've always wanted to do a four day work week. I just don't like working five days and I can now ask for that. Like, this is what I do I want. And this is what I want, right? Or more bonus structure or some other leadership position if you're like in a hospital or something like that. Being an intrapreneur opens doors for your business, Dr. U Incorporated, like you cannot imagine. Okay. So I want you to take these three things and start applying them right now. Okay? It would make a difference. It will change your income, it will change your time off, it will change your position in the practice, and most importantly, it will prepare you for any other entrepreneurial journey that you want to embark on. So again, I hope this was really, really helpful. I enjoyed doing this just for you. And what I want you to do is if you have not taken a moment already to join our wonderful Facebook community, I want you to do that now. Is www.entremd.com join and I'll see you in the Facebook group. Okay. I would love for you to have the same kind of story. One of my clients had. She's a pediatrician and she's an intrapreneur and her goal was, you know, I want to be on a partnership track which wasn't offered initially. And I want to have a four day work week. And we worked together and she started doing all these things. She started a YouTube channel for the practice. She worked on their reviews to a 4.5 stars from 3.2. She set up a telemedicine program for them. She did all of these things even though she was salaried. And now without even asking, she was offered the two things that she wanted. I want you to have that kind of story. I want you to live the entre MD life. And I will see you next week for another great episode. And if you have questions, if you're like, I really want to know about this thing in the Facebook group, ask those questions and I will create a whole segment just for you. All right, see you next week. If you love this podcast, please take a moment to subscribe, share and review it on itunes. As you go about your week. Remember, you're not just an mb, you're an Entree md. Don't forget to tune in next week for another great episode. Until next time, Sam.