So many physicians are experiencing burnout from their clinical jobs. It may not necessarily be because they don’t love what they do but more so because they have no autonomy, no time freedom, are overworked, underpaid, and underappreciated. However, many physicians stay in these jobs that they dread going to day after day. What about you? What’s stopping you from just walking out of your job to start your own business today? It’s likely to be one of three things: common sense, integrity, or fear. Two are very valuable commodities.
Common sense says “I can’t just quit my job without a plan (and I agree).” Common sense says that you most likely have commitments, obligations, and responsibilities that depend on your income. Similarly, It’s unwise and unhelpful to put your integrity in jeopardy when it’s unnecessary. So, instead of just pulling the plug, it’s important to plan your escape from your current employment with both common sense and integrity in mind, while making sure to keep fear at bay.
It makes sense to do plenty of research on your new business venture and get all your questions answered before you make any decisions about anything.
Consider these ideas:
- Get an insider’s opinion. If you could get an insiders’ view of that business, it would serve you well. Standing on the outside looking in is a lot different from being on the inside looking out. It could save you a lot of time and money.
- Find someone who has already walked the path you intend to tread, like a business coach, and ask them, “If you were doing this all over again, what would you do differently?” Their answer will probably be the most valuable conversation you could have for your new business.
- How will you generate a profit? It’s important to figure out, to the best of your ability, the easiest and most effective way of generating a profit from your new business.
- How will you scale up? Determine what you need to have in place to scale it to handle even larger volumes of clients or patients.
- How much time do you need to get the business started? Determine how much time you have available to get your business off the ground. Naturally, the more effort and energy you put in the quicker everything will go.
- How long will it take for your business to generate some meaningful profit? Make a reasonable estimate based on the information collected.
Once you’ve determined these aspects, it should be possible to calculate with some reasonable level of certainty what needs to be done for you to create a timeline for escaping from your current employment.
So, now you can quit your job, right? Hold on! You’re almost there!
Many smart people get their business into the marketplace by working part-time from home while they keep their regular job intact. Even if it takes 9 months or a year, or even a couple of years, to get it working efficiently and effectively, it’s got to be worth it, right?
Remember to factor in some wiggle room for the unexpected, some downtime, and even some holidays. Talk to people who have already made this kind of transition to get a clearer idea of what is reasonable and doable for someone in your situation.
Remember, your new business should have no requirement for you to work 40, 50, or 60 hours a week. Your intent is to move on up in terms of profit and income potential and move down in terms of time needed to create it.
Seriously consider working smarter, not harder. If hard work was any guarantee of success, most people would already be wealthy. It’s not about working hard. Your success will come from having a plan, an effective strategy, and the discipline and enthusiasm to follow through on it.
Once you’re confident that you have a profitable business plan, and you’re working part-time on your business and showing some profits, that’s the time for you to work out a sensible plan to quit your job.
Yes, it all takes patience. But remember: “All things in their season.” Soon, you’ll be looking back at the job you once had and looking forward to greater profits in your own business.
Thank you for reading this blog post #MedicalMoguls. If you want to chat with me 1-on-1, schedule a FREE appointment here www.MedicalMoguls.com/Freedom. Until next time, it’s Dr. Drai.