#MedicalMoguls! It’s me Dr. Drai, Dean of Medical Moguls Academy. I help doctors JUST LIKE YOU who are stuck, stressed out, and overwhelmed in THE OFFICE build profitable businesses based off of their purpose so they can maximize their revenue in half the time. Doctors, it’s time for you to live in your PURPOSE, create more PROFIT, and have the time FREEDOM that you deserve.
As a business coach for doctors, it can be difficult to watch the lack of progress of so many promising physician entrepreneurs. They’ve dreamed for so long about creating a solid, sustainable business, and yet, all they do is dream. No Action.
You know the doctors I’m talking about. They attend conferences, sign up for free webinars, buy paid online training, and sometimes even work with a coach or two. And yet week after week, month after month, year after year, they fail to make any progress toward their dreams.
Are they just lazy? No. It’s something worse. They don’t know how to move from a dream to a plan and they’re stuck.
Start with the Long-Term
If you’ve ever been on a job interview and were asked, “Where do you want to be five years from now,” you might have thought it an odd question. But as a small business owner, that might just be the most important consideration you can have.
Without knowing where you’re headed in the long term, it’s impossible to create a revenue map to get there. You need to know what your destination is, so that every day, week, month, and year you can check your progress to be sure you’re still headed in the right direction.
Once you know your ultimate destination, you can draft a business plan for getting there, and create the interim goals that will help you stay on track. These are called benchmarks.
For example, if in five years you want to be free to travel for 26 weeks every year, then you need to have a few pieces in place before that can happen:
- Enough income to cover travel costs for you and your loved ones
- Passive income to sustain your business while you’re not working
- A staff who can manage the business while you’re away
With this list, you can then work backward from your five-year goal, and create milestones along the way. If you know you’ll need to earn $1,000,000 annually in order to fund your travel plans, and right now you’re earning $250,000, then reasonable milestones might look like this:
- Year 1: $300,000
- Year 2: $450,000
- Year 3: $600,000
- Year 4: $750,000
- Year 5: $1,000,000
With these milestones in place, it’s much easier to figure out exactly what you need to do to achieve them, by setting monthly, weekly, and daily goals.
Create Small Goals
If you say to another doctor, you need to move from $250,000 to $1,000,000 in five years, that’s a pretty overwhelming task. After all, it’s a $750,000 increase and most people will look at that and immediately dismiss it as impossible.
But when you break it down as we have above, and then again into smaller steps, it suddenly doesn’t look so daunting.
In the first year of the plan we have outlined here, your income needs to increase only by $50,000. That’s less than $4500 per month!
You can further break that down by week: $4500 per month is just $1125 per week. Depending on the prices of your products, if you sell just a few more products a week, you’ve already reached your milestone.
That might mean investing an additional $100 per month in Facebook ads, or perhaps reaching out to one more JV partner. The point is, reaching this much smaller goal is far easier than thinking about that five-year plan.
So what’s your big DREAM? How can you deconstruct it into achievable milestones, workable goals, and finally, daily and weekly tasks? If you can do this (and you definitely can) then you can achieve anything in business and in life. THANK YOU for visiting #MedicalMoguls. If you want to talk to me 1-on-1, schedule a FREE appointment here www.MedicalMoguls.com/Freedom. Until next time It’s Dr. Drai.