Originally planning to discuss financial planning with fellow Physician Coach Dr. Bonnie Koo of WealthyMomMD, our conversation had an unexpected and exciting turn, where she broke down how she launched her 6 figure coaching business!
Learn how she went from answering random finance questions on Facebook to launching her successful coaching biz, that allowed her to close her private practice! If you aspire to be a physician coach or consultant, you will want to learn the steps she took — this is a must listen for sure!
Dr. Bonnie Koo’s Physician Coaches Profile
https://www.physiciancoaches.com/coaching-category/bonnie-koo
Dr. Bonnie Koo’s Website
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Transcript:
Mike Woo-Ming: So here joining us on the program today is Dr. Bonnie Koo. You best know her as Wealthy Mom MD. She’s a board certified dermatologist. She used to work for Morgan Stanley. She majored in Biochem at Barnard college. I’m curious how often you use biochemistry these days, but anyway, I’m so glad to finally get her on the show, Bonnie, how are you doing today?
Bonnie Koo: I’m doing so great. Thanks so much for having me on the show.
Mike Woo-Ming: You’re a powerhouse in terms of financing and especially when it comes to women physicians. I’m sure when you were in medical school you didn’t say and put down my 10-year goal is to design the Wealthy Mom MD program and empower many women physicians when it comes to finances.
So how did this all begin for you?
Bonnie Koo: That’s funny. It definitely was not in the plan at all. And I think when you’re in the entrepreneur world, it’s a lot of these things were never planned. You just, we started noticing a problem, noticed that we had a solution or that we could help people and that’s how it was born.
So that is my story. And it’s funny because my first job out of residency, it was a new dermatology department in New York. And so what that meant was I didn’t have a lot of patients, which meant I had a lot of free time, which meant I spent a lot of time on Facebook, specifically Facebook groups.
That was it was just starting to blow up Facebook. Yeah. And then I was finding all these physician specific groups. And I actually found myself in a few women physician specific groups, and there’s actually one for finances. It was just a community group. And like I said, a lot of free time. And so I started answering everyone’s calls.
And then people always ask how do you learn this stuff? And it’s not like I knew this stuff. Even though I worked at Morgan Stanley, I wasn’t in the banking side, so I didn’t learn it there. In fact, I was a hot mess when it came to money back then. I always ran out of money, every paycheck.
And so I started learning about money, just on my own, the last year of residency, I started reading books so I could invest. And then people started tagging me on posts. And the next thing you know, I started a blog, actually, a friend of mine suggested I started a blog and I remember thinking, why would I start a blog?
“The White Coat Investor has a blog already!” In my mind, someone else was already doing it. And he writes about everything. And I really had no desire to start a business. I was still thinking, I was just doing this kind of for fun. I really enjoyed answering people’s questions and educating them.
But as you probably know, Mike, people tend to ask the same questions over and over again. And so I thought, you know what, maybe I will start a block so that I can write a post about specific topics. And I pick the topics based on what people were asking on those groups. And then I would just post a link.
So it was easier instead of me typing this whole long thing at a Facebook post, I was able to just be like, “Hey, read this blog post. I wrote it.” And that was in 2017. And it was just a hobby, to be honest at that point.
Mike Woo-Ming: And then you were working in the dermatology department. I assume it, they started to give you more patients, but when did you decide to say, “I’m doing this blog, I’m doing this on the side. When do you think I could turn this into a business?”
Bonnie Koo: So I never asked myself that question, but what happened was I started going to conferences and meeting people.
So I met Peter Kim of Passive Income MD. and Dr. Jim Dolly, The White Coat Investor. I went to his conference and I was a speaker at his first conference. And then I started going to a conference called Fincon. I don’t know if you’re familiar, it’s an annual conference. I think it’s September-ish for anyone in the financial media world.
So financial advisors, bloggers, et cetera. So I started attending those meetings again, just for the comradery to be honest, there’s something fun about the physician group. The first year I was, there was like 10, 20 people on this included bloggers and groupies, so fans of the bloggers and then every year it would grow bigger and bigger.
And so I was just doing it for the fun and for the connection. And then what happened was after I had Jack or right before I had Jack I had some pretty bad postpartum anxiety. And I think the blog went dark for three months. Cause you know, I just had a kid.
And I was very confused. I was like, what should I do with this? Like, why am I doing this? And I had moved on to a private practice job at that point. The beauty of dermatology is it’s full-time, four days a week. So I never worked more than four days a week. And they were pretty short regular days.
And I remember asking Peter Kim I don’t know what to do because it was I thought this wasn’t like a specific crossroads, but at least in my mind it was, I was like, if I’m going to do something. Figure this out, or I should just let it die and just go back to my regular life. And so that was the crossroads that I had entered.
And I remember Peter, Kim said, he said go big or go home is what. And like he said in a very nice way. He’s if you’re going to do it, do it. Otherwise, see you later.
Mike Woo-Ming: He’s just a bundle of energy though. When someone he meets someone like that and, he’s got that energy and then entrepreneurial drive. So yeah, that definitely was the right person to talk to at that time. Yeah.
Bonnie Koo: And then I started working with a coach and then that’s when I basically was like, okay, I’m going to go for it. And I didn’t have a specific reason. I think I was like, why not? And yeah. I just thought it’d be a fun new adventure
Mike Woo-Ming: and how’s the venture so far.
Bonnie Koo: It’s honestly exceeded all of my expectations. I’m more like I didn’t really have expectations. I don’t think I really understood what it meant to have a business or even to be an entrepreneur like that word wasn’t in my vocabulary in terms of things I could be when I grow up. Like it never occurred to me that I could be an entrepreneur.
And I say this too, when I meet new, early on physician or any entrepreneur, because everyone has like imposter syndrome about it. And I remember being in medical school and I felt like there were two types of people. We were all obviously smart enough to get in. But I felt like there was a group of people that were like really smart.
And what I meant by really smart was like, they were creative. They were the types of people who are going to invent things. Cause obviously there’s lots of innovation in medicine. And so I just consider myself I’m just a regular physician, which is totally fine. It’s still a pretty good gig. But I remember just thinking “that’s not available to me.” I just assumed. Ever become someone like that, which is funny looking back now. And when I talk to people about that, cause I think people think like you either have it or you don’t.
Mike Woo-Ming: So you know, many physicians come up to me and very similar story. Like you, they’ll get on some Facebook group, they love to post, they love to help people. But then there comes that switch where you say, “I’ve got information that I can help other people. I feel like I can charge for that.” When did that happen for you?
Bonnie Koo: Yeah, that’s a great question. So I started working with a coach, Sunny Smith.
I know you know her and we’re creating an income goal. So th the year I worked with her, I think I made it was between 35 and $40,000. And she asked me how much my do you want to make the following year? The following year being 2019. And I said, oh, #100,000 sounds nice. And at this point I was thinking, I’m going to start a business, but I’m not the idea of leaving medicine or working less than medicines didn’t occur to me.
So I’m thinking $100,000 like, that’s pretty cool for a little side gig. And I remember she said, that’s not high enough. And I remember being like, what do you mean it’s not high enough, like 35 to 100 K that’s a pretty good jump. And her reasoning was, and she’s just not so fixated on the number, but she said, if you pick a hundred, when you’re already at 40, she basically said you just have to do more of the same.
And so she said, I, she says, do you have to pick at least $200,000. And then I remember my eyes like popped open and I was like if that’s the lowest I could pick, I guess I’ll pick $200,000. And in terms of monetize again, cause then people ask how’d you make money up to that point. It was basically sponsorships and speaking fees at that point and some affiliate marketing as well.
And when I worked with Sunny, we were talking about how will I create that income? So she’s. I think you should create a course. And so 2019 is what I call like my intern year of entrepreneurship. I basically took all the courses, Mike. So I took, you probably know these courses. B-School with Marie Forleo. Yeah, I did. And I did it through Amy Porterfield. I basically did everything through Amy.
Mike Woo-Ming: Definitely I’ve been, on your website and I definitely see that Amy Porterfield influence.
Bonnie Koo: I loved the model. Yeah. And then to try by Stu McLaren membership guide, even though I don’t have a membership and I went to a Kajabi conference where I got to.
Sort of the big names and entrepreneurship, on stage. Just talk about all the aspects of marketing online. Biz met with people it’s so fun to meet other entrepreneurs, Mike, and then at the Kajabi conference, I’m afraid there were hundreds of people in the room and less than five physicians, as far as I know, there could have been more, but like it’s just fun to meet people who aren’t physicians, all building businesses.
And then I’m like, oh, it’s not that weird to do or not weird. It’s not that.
Mike Woo-Ming: Yeah, it’s when I would go to conferences and when we are physicians, you’d be gravitated to each other, but it’s so much difference when I have to go to a conference for a steamy requirements.
And, a lot of those obstacles, th are self limiting beliefs that we often see at, how can I do this? How can I add this, do this thing in medicine, you don’t have the same thing when you go into these business conferences, I’m sure that when somebody talked to you, it’s 200 K what are you talking about that maybe you had some self-limiting beliefs that there you didn’t even know it because it sounds like you’re doing it because it’s not really financial, not, you’re not doing it. You’ve already got a practice to thriving practice and money. Didn’t seem like a big motivator for you to start the business.
Bonnie Koo: You mean? Yeah, no it’s funny. Yeah. It’s a bit more on the radar now because don’t that I do it full-time but when I was starting it, it was looking back, like I wasn’t thinking so much about the money.
I just was interested in learning how, like the mechanics of building a business was really interested. And it still is. I love talking about business, like business coach. I don’t do that, like in terms of my offerings, but I love talking business with other entrepreneurs. Like I just find it super interesting and fascinating.
And so I really enjoyed learning how to create an online business like that. Like I said your immersion in all things business. So that was really fun to me. Like it was when I think about it, it was crazy because I was doing that while I was working full time.
Mike Woo-Ming: Wow. So where are you right now in terms of, you said your your coaching business is now full-time. Are you still seeing patients?
Bonnie Koo: No. I stopped seeing patients in person actually, when the pandemic started. And that wasn’t on purpose. Basically. I left para practice and I actually switched to locums, which gave me more flexibility in my schedule, so I was working, few weeks on few weeks off that sort of thing.
And so I thought that was be a better, just a better way to handle my time. Plus I got to travel to really cool places like I was in Hawaii for the winter, for example. But then when I returned from my last locals assignment was actually the end of February 20. And so we know what happened in March and the plan was to find a local part-time job in New Jersey or New York city.
And that didn’t happen because of the pandemic. And so I was like, okay, I’ll just work on my business. Full-time instead. And I was doing some tele Durham too, at the same time. That was super part-time though. And when jobs were becoming available, It was before the vaccine was, it was available. And I think I just was like, no, thanks.
I don’t really no desire to go back. And plus with the, the lack of vaccination at the time, I just figured why do I, why should I risk my health? Not just mine, but like exposing my family if I don’t have to. And so I haven’t looked back. It’s interesting. It’s not something I thought I would have.
Do like I wasn’t one of those people who was feeling really burned out about medicine or, itching to leave. It’s not something I’d ever thought I was do. But now that it’s been close to a year, I don’t, I miss certain aspects of, I think I just miss being with other physicians, I have to run through my business, and what I like even more is I get to talk to all physicians, not just dermatologists. So that’s, to me that’s really fun.
Mike Woo-Ming: So I’m really fascinated by this because I’ve loved seeing your journey and how you evolved in that. So what’s a typical day in the life of Dr. Bonnie Koo.
Bonnie Koo: So I’m trying to think, do I have a set schedule? And there’s somewhat of a schedule. I would say that the best thing about doing this full-time now is I don’t set an alarm clock. In the morning, because I don’t have to get ready to go to work. I naturally wake up between seven and eight. So this morning I woke up at 7:00 AM, for example.
So usually between 7 and 7:30 and I don’t schedule, I generally don’t schedule any calls until the afternoon. And there are certain days where I don’t schedule any calls. And so I would say, I like quote-unquote get to work between nine and 10:00 AM. That’s when I start. And I generally end by four or five.
I guess I technically work five days a week, but two days are like half days when I say off, it just means I’m not like actively working on the business, but I’ll be working out or doing something else instead.
Mike Woo-Ming: And then of course, you’ve got your family obligations, I guess we gotta fit those in too.
Bonnie Koo: Yeah, a toddler. And he goes to preschool and my partner, Matt, he does all the driving to and from school. So I love that. And most of the grocery shopping, all that kind of stuff.
Mike Woo-Ming: The so when the pandemic hit, you’ve mentioned prior to this, your revenue was basically sponsorship and speaking gigs. I assume the speaking gigs dry it up, obviously. And then was that replaced by your coaching program or where you, were you doing one-on-one coaching at the time or do you do group coaching? How does it break down now?
Bonnie Koo: So in 2019, I created my program money for women physicians. And that’s a digital course at the time. Now it’s a program and I’ll tell you the difference in a second. And then I started one-on-one coaching in 2020. And so now my revenue is, I don’t know the exact breakdown, but it’s mostly from the program, which includes group coaching. And then one-on-one clients as well.
Speaking, definitely dried up an epidemic. I think of speaking, not so much as a revenue maker for me, but more as a marketing, a way to offer yeah. Lead generator and just to get my name out, that sort of thing. That’s how I think about speaking. And so that’s why like negotiating speaking fees, like I’ll ha I do have a minimum, but I’m not too, I’m pretty flexible because I don’t think of it so much as a way to get paid.
I think of it more as a way to get my name out there. And yeah, programs and coaching. And then the difference between a course and a program in my mind at least is the course had a start and end date. When I say start and end date, a start end date for the live support, like weekly calls or a Facebook group or something like that.
And now it’s an ongoing program, which is like a, it’s like a hybrid between a course and a membership. Basically they pay one fee and it’s like a course and that they get the course. Live access doesn’t stop. It’s ongoing. And so when they people buy my program, they get the whole course at once and they can consume it like Netflix.
They can binge it or they can take their time. And there’s a weekly call usually with me once a week. And that is lifetime access. Meaning like it doesn’t end it’s it’ll end when the program, ends, but I have no plans to end that program. And then the Facebook group, as well as ongoing. And so I think it’s an amazing deal since. But they’re like, yeah. Yeah. So that’s the program. And then I take a limited number of one-on-one clients as well.
Mike Woo-Ming: Wow. Now, one of the things that really, new coaches and even, older coaches have problems with is pricing. Am I pricing myself? Is it too expensive? What will people think.
And oftentimes they just end up pricing it. So you know, so low that it really devalues it. Did you have issues with that in terms of pricing your programs and your one-on-one.
Bonnie Koo: I’m smiling. I don’t know. People can’t see that unless they watch the video. Because when I initially started my course in 2019 in my mind, I was like this is like the beta group.
This is like the founding member launch. You’ve heard that term before. And so I remember Sunny was my coach for all of 2019 and part of 2020. And I think I wanted to price it at something like 200 bucks. So it was something like that. And the reason why I picked that was I think I picked the price that Jim Dolly picked for his course, although his course, I think has actually four or 500, but it was basically, I picked a, a low, a hundred dollars.
And I remember when I told Sonny the price, I wanted to pick what, it was like two or 300 bucks. She like, she was like, I can see like the up on her ears. She’s what are you talking about anyway? So I think you’re right. I think we’re afraid to charge, and I think what helps us, cause I actually was coaching someone on pricing. It’s good to look at it. Ultimately, you get to charge whatever you want, but I think it’s good to do a little quote unquote market research has see examples just to see what the rip, but there’s always going to be a range.
So anyway, I settled on $1,000 for the first time I offered my program, now it’s $2,500. That’s what I tried. I think pricing drama is always, I think even for my one-on-one coaching, I went through many iterations. I actually started at $6,000 for three months, and then I actually lowered it to $6,000 for six months.
And again, I remember Sunny being really like why would you do that? And and now I charge more, but yeah, pricing, I think it’s interesting. And because I coach on money specifically, The person I was cooking the other day was a new coach. And I said, people never say no because of the money.
Like they might say, that’s the reason, like it was too expensive. Never the real reason people don’t pay it’s because they don’t see the value. They don’t understand the return on that investment.
Mike Woo-Ming: Yeah. And that’s often a reflection of, the coach because we’ve, haven’t marketed our course appropriately. So that, that’s where, we’re where they’re having the disconnect. Yeah. And I’m sure you found that the higher you charge. I just said to, to have a better experience with a client or a better client.
Bonnie Koo: Yeah. So I’m in a business mastermind now, and we all have found that it’s much easier to sell more expensive things than lower expensive things.
So what I mean by that is selling a program, which is generally the lowest price of your offer. Is actually much harder to sell than a high-end one-on-one coaching package. Like I’ve definitely found that to be true, to some extent. And it’s funny because I started with the program and then moved to coaching, like one-on-one or high touch coaching, most coaches start with one-on-one coaching and then scale to a course or membership. And so it’s a different type of marketing.
Mike Woo-Ming: So what’s coming in the future. I understand you got a book coming out probably later in the year.
Bonnie Koo: Yeah. So my book’s coming out this fall of 2021 and it’s funny because I think that’s the first thing I wanted to write. Like when I first started all of this, like I even had a proposal written up and table of content, this was going to be more of a financial literacy book. And now the book is, a coaching, a money mindset book instead. And so it’s been fun to finally make the surreal reality. It’s bucket list for years at this point,
Mike Woo-Ming: I think too it, for me, it makes it more legit for yourself. Like my parents didn’t really care that I had a coaching business, but then when I came up with a book it’s like, “Oh, my sun finally made it!”
Bonnie Koo: I think a book definitely gives you that what’s the word not recognition. Establishes you as an expert in your field. Being an author still has that sort of panache, rather than I have a website, cause everyone can make a website. These days, everyone can offer one-on-one coaching. But to write a book is a big undertaking.
Mike Woo-Ming: I know. And it’s funny. It’s most of my, one of my coaching clients had never read my book, even though some of the things that I take from it. Are in, I share with my one-on-one coaching clients and, I think it’s the greatest lead generator out there.
You can sell it on Amazon and you’ll find people that, you never would have thought of out of reach, make, you can get more speaking gigs. There’s so many things that you can do with a book. I love this discussion because I love like you’re sharing all of this, how you got started with your coaching business.
Okay. And the last question, three books, you’d recommend that you’ve read. It doesn’t matter how that either influenced your life and got you to be the Wealthy Mom MD.
Bonnie Koo: So I actually don’t read a lot of books, but I will, I can think of three. I’m actually looking at my bookcase right now. So I actually really like Marie Forleo’s book.
Everything is Figureoutable. I love that. Yeah. And so that book is just all things, mindset, coaching, like it is basically. And that’s what I love about books because they’re assessable price-wise right. And so I liked that book a lot, even though I kinda knew everything in the book, so to speak, but it’s always good to hear it from another person’s perspective.
I’m trying to think what else actually, I just read a parenting book recently that I love, and I’ve been telling everyone about it. It’s called The Conscious Parent by Dr. Shefali. I just so good. And it’s the punchline is basically to really allow your kids to be who they are. And I think if you think of just letting them be who they are and not trying to, not, the parents are actively trying to diminish their kids, but a lot of times we want them to be a certain way, but, we all come out with everything we need and all the person to do a lot about this.
Bonnie Koo: Yeah. It’s just been a really eye-opening book just to basically we have to do our own inner work to be great parents, to just allow them to be who they are. So I just, Jack’s three and a half, these are things I’m thinking about. So that’s book number two, let’s see.
Book number three. I really liked the book Untamed by Glennon Doyle. And I think that’s mainly women read it. I liked it for a few reasons. One is. It is non-fiction, but it’s written as a series of short little stories. So some of the chapters are really short, some are longer, but they’re stories and lessons from her life. And it was just a really great way to learn about her sort of journey and the way she talks about it. So I like that book. So those are my three.
Mike Woo-Ming: Okay. So that’s everything is figureoutable untamed and the conscious parents or consequences. The conscious praying.
Now we really haven’t talked too much about your expertise, which is female helping with female physicians with finances. What are the biggest obstacles female physicians have when it comes to money and money management?
Bonnie Koo: Yeah. I’m trying to think of how to answer that question. I think the obstacle and this isn’t specific towards female physicians per se. I think it’s for all women, but if you just think about it, The way we are socialized. And I think that this is like a female specific thing, the way we’re socialized around money as a woman.
And then, because we’re all physicians, there’s like another layer of socialization, meaning we don’t like to think about we’re helping people and getting paid to help people like there’s this kind of like guilt and maybe even shame around that a little bit. And then as most women ignore them, Especially if they have a male partner, cause that’s still a thing where the male spouse will handle the finances and not the woman.
It’s definitely changing. Plus we don’t have women don’t have as many examples of rich women as men do you know? And so if I asked you Mike to close your eyes and think of a rich person, what would that person look like? Martha Stewart. People usually think of a white and old white man, right? Oh yeah.
That’s what I meant. Yeah. And yeah, because examples we have of, there’s obviously wealthy women, but there aren’t that many. And then also women, we feel guilty about money. If some, if a woman, the entrepreneurial world, people are very transparent about money, that’s one of the great things about entrepreneurship, but women feel like they have to justify it.
Why they want to make more money themselves. They feel like they have to think of a reason. And if they say it like publicly other women will often chime in, like, why do you want to make that much? But if I said it to a man, they’d be like, cool. I was just an example. Like it’s a stereotype.
So there’s a lot of sort of barriers to that. So women, I think a lot of us, we don’t. A lot of us will even say, I hear what lot of women say money’s not that important, or I don’t need that much money. That kind of language is used a lot. So I know that wasn’t, that was a lot of different answers to your question, but that’s, those are the sorts of types of barriers that I see.
Plus a lot of women really don’t think they can make that much money. Cause I asked this question in my group from time to time, how much money do you want to make? And I have them write a number… like I guess like an annual salary, whatever. And there’s a range of numbers. They starts at 200, then it goes up to over a million, but it’s always, they say the number, then there’s a, “but” after the number, but I don’t want to work much on that number, but I only work part-time. So I don’t know if I could really make that because most of us have conflated money with time. If you work part-time that means you have, that means you have to make less.
Mike Woo-Ming: Interestingly enough though, in terms of like entrepreneurship, at least when it comes to physicians, I would say the majority are women.
Bonnie Koo: I have no idea. Actually. That’d be an interesting survey. I haven’t even thought about that, to be honest, it’d be interesting too, because I think there’s a lot of, and you probably know more than I do, Mike. I think there’s a lot of physician entrepreneurs. I’m not even aware about it. They don’t hang out with an entrepreneur, like doing their own thing, which is great. So I think there’s a lot more out there than,
Mike Woo-Ming: Yeah, I think I find ways to pinpoint it, I think in terms of the physician slash entrepreneur slash influencer space, like becoming a coach or become a consultant Tor I tend to see more women in that. I don’t know why.
Bonnie Koo: Yeah for coach in the coaching world, I think for sure.
Mike Woo-Ming: Yeah. Yeah. And so tell us about your successes. Cause I know you do, you’ve done a lot of coaching and I always love to hear about like the successes that you’ve done, because that’s what drives you. That’s what drives your business, tell us about the students and how you felt them.
Bonnie Koo: Yeah. It’s so fun to see before and afters and what I mean by that? What’s nice now is because I started my program in 2019. So now it’s 2021. So now I can really see where the people were in 2019 and where they are now. And there’s one person that a few people that come to mind, but one person in particular, I remember, cause I remember like being on calls with her in 2019, and she was completely new to money like that should a financial advisor.
She’s married. She has kids and just let the advisor handle everything and knew very little about money in general. Two years later now she’s invested in multiple real estate investments and is actually an entrepreneur now, too. Like she’s creating a product, a digital product, an app, actually. And then, so a lot of my clients will invest in real estate because that’s a natural vehicle for wealth building, besides the stock market. And so it’s, and somewhat, some of them have become coaches and entrepreneurs, not everyone does, but a lot of them it’s interesting. Because now that I’ve. Transitioned to mindset, coaching more than strategy coaching. It’s just really amazing. It just, even in physicians, how we really limit the way we practice and live.
Let me give you an example. I think everyone, just a lot of us subscribe to, okay, I’ll get a job. And even that’s a relatively recent thing because there was a time as I’m sure where most of us. Starting their own practice, but now it’s most doctors get a job. So I think most people who graduate a little bit later, I’ll get a job and then I’ll work for 30, 40 years until I retire.
That’s just what we’ve subscribed to. And I think people are starting to question that. So my clients question that, but mainly because they’re under, I coached them. And so it’s like, why you don’t have to accept that as the way to live your life. And I think it’s like people to start thinking like, Who made this up?
Like this full-time versus part-time I actually looked into it, Mike, and it’s fun. The industrial revolution, this whole lake 40 hour work week, Monday through Friday was it’s all made up. And, but like most of society subscribes to it. So for example, like today’s a Tuesday, and I had 12, o’clock my partner. And I went outside. We live in a high rise building. We have a large amenities deck with barbecue grills and. Pool and a pool. And we went to grill we’ve growed lunch and hung out in the sun. I was going to go for a swim, but I had to come back to talk with you, Mike.
Mike Woo-Ming: This has been illuminating at time and I really commend you and what you’ve done you probably don’t see yourself like this, but you really are one of the pioneers who helped. Pay it forward and now spring other people to start their own business. And I love that you gave us insight about your business because I think that we’re really elucidate and help others to get into space. And I love it. Where can they go to for if someone wants to work with you, what’s the best place to go to contact you?
Bonnie Koo: Yeah. Everything is Wealthy Mom MD. So wealthymommd.com. That’s @wealthymommd for Instagram. They can find me there.
Mike Woo-Ming: All right. I’m curious. So I know you didn’t really answer the first question which is where you got came up, the name Wealthy Mom MD when you felt like, yeah, you could actually do it. Cause long ago I bought the domain name, millionairemd.com and I use that as a goal for me. And then I was at my first million in my early thirties. Did you have the domain name before you actually had your successful business as a way of motivating yourself, or you really just said, this is who I am and that’s what I’m going to declare to the world.
Bonnie Koo: No, I, so my business started out as Ms. Bonnie MD I would just was like, I’ll just pick that. I bought that domain, that I was the blog and I, after few years I hired a professional web designer and they were like, “We’re still going to use Ms. Bonnie MD,” and that’s I think at some point during the design process, and this was like, and branding, I was like, I think I should change the name because Ms. Bonnie MD is doesn’t really tell us anything about what I do and I spent some time brainstorming names. Like actually one of the names was Rich Bitch MD, and I bought that domain name. Cause I was like, this is so fun. I still, I own it, but I don’t think I’m going to do anything with it. And I think Wealthy Mom MD won out finally.
And it’s funny cause I don’t know if I thought of it as am I the wealthy mom Dee or is that my client? And I think to this day, I don’t really define that, but I guess. It doesn’t really matter. It’s an aspirational brand name is how I think about it. I bought the domain name afterwards and it was available.
Mike Woo-Ming: Obviously we retreated to money, but wealth could be a whole bunch of things, different things, not just at this financial. So thank you again, Dr. Bonnie Koo. I know you’ve got some barbecuing or something or swimming you’ve got to do, and I really appreciate the time. Go check out her website, wealthymommd.com.
She’s got some courses. I know right now you you do some group coaching it’s close right now, but You have some contact information whenever it opens up, you guys wanna, you guys want to know how to get access to that? So again, Bonnie, thanks again for joining us on the program. And I really do appreciate your time.
