Doctors often have the skills for being great entrepreneurs and they often don’t know it. For example, most physicians have excellent abilities to research at making sure their patients are getting the most current medical information. Docs often are great managers, overseeing an individual patient’s treatment as well as a busy practice. They are often great managers and are a virtual Houdini at finding a few minutes to do “everything” – How else could one explain how we fit so many patients in a day?
Let’s look at typical physician qualities that can make for successful business owners:
1. Management Skills
You’ve learned how to manage both people, staff, and your own time (and sanity, hopefully)
2. Persuasion Skills
In many different businesses, the ability to persuade is a crucial quality for business success. We’ve persuaded people all our lives in determining the correct medical regimen – a great skill to have when selling stuff.
3. Ability to think on-your-feet
As a physician, you’ve had to be able to make quick decisions at a moment’s notice, at often life and death situations. Responsibility and being able to compromise to lead to the best outcome can’t be minimized.
4. Research Skills
You’ve spent a lot of time going to conferences, attending continuing medical education courses, and then synthesizing and interpreting that for patients. This trait goes along way in explaining complex products, evaluating your competitors and understanding systems.
5. Problem solving Skills
Probably one of the most important skills. No one needs someone to make excuses – entrepreneurs make the tough decisions, and find the quickest answer in determining a solution.
I’ve always said my skills as a marketer and entrepreneur stemmed from my understanding in medical school. Often times its recognition of these skills, often lead to the foundations of business success.