Can’t believe we made it to 100 episodes! On this jam-packed double-sized show, we invited some of your favorite BootstrapMD past guests to share tips, strategies, and predictions for the upcoming year.
RAW TRANSCRIPT
Dr. Mike Woo-Ming
Can you believe it? We’ve hit 100 episodes. It has been an amazing ride over these last few years, have had the opportunity to talk with such incredible guests, some of which I’ve asked to join me on this program. Join me on this celebration. And I’ve asked them to give me not only what they’re currently doing but a tip, some strategies, maybe a prediction or to bet the upcoming year to help you the physician entrepreneur.
Dr. Mike Woo-Ming
Hey guys, it’s Dr. Mike Woo-Ming. Welcome to this special episode of BootstrapMD and D BootstrapMD. md is the podcast for physician entrepreneurs. If this is your first time listening, welcome, if you’ve been a longtime follower to the program, welcome back. As I mentioned, bootstrap MD podcast when you started it, it was to talk about the issues that could affect a physician and healthcare entrepreneurs. If you’ve never heard about me, my name is Dr. Mike Woo-Ming. I’m a primary care physician. It’s going on 17 years ago, I left corporate medicine where it was incredibly burnt out and disillusioned. I started up my own business. Basically from the laptop from my bedroom was able to take it to seven figures and later sell that I was able then to parlay my entrepreneurial experience I currently I owned a number of different businesses, most of which are multiple medical clinics, as well as I own a consulting company called bootstrap MD, where I help other physician entrepreneurs help them chase their dreams. I talked about my story, in this book, the physician physician if you want to learn more plug out of the way. But over the last two years, I realized that that was just my journey. And they wanted to highlight other physician entrepreneurs who were out there and talk about their journeys and how they got there. When I first started working with other doctors, in terms of business, and I wanted to voice to them that that is an option that they can do. And when they would go to medical conferences to talk about these subjects. I literally had the door slammed in my face, because at least from my experience, they just wanted doctors to read more prescriptions and not talk about ways that they could become their own boss. So that’s one of the reasons I started BootstrapMD md. So since we started this podcast over two years ago, we’ve had some just amazing guests throughout the years. And I wish I could highlight everybody. But on this program. I just wanted to highlight especially those that we haven’t heard from in a while. But I realized it was important for me to highlight other physicians journeys, because for those who are considering going into entrepreneurship, it’s great to have real life examples of just success stories that I can highlight and share to the world. So I encourage you to look at past episodes, where you can hear from physicians who’ve started their own online business selling online courses or through Amazon, those who’ve done incredibly well through real estate. And many of those who started their own consulting and coaching businesses, go ahead and check those out. encourage you to subscribe to this podcast so you don’t miss any single one. But let’s start off with my first guest. We first met her all the way back in episode number two. And what was interesting is we found out that we actually went to the same residency. So back when I interviewed this doctor, way back in episode number two, she had talked about quitting medicine and is now completely out of it. So let’s Find out what she is currently doing. Let’s hear from Dr. Lynn Marie Morski.
Dr. Lynn Marie Morski
Dr. Lynn Marie Morski here. I wanted to congratulate Mike Woo-Ming on the 100th episode of his podcast video extravaganza, bootstrap, MD. I was on episode number two, I think he said I was first interviewed, very honored. Mike, thank you so much great to see all the people that you’ve helped. Since you started the podcast, he has asked us to give you a little update. I am not at all doing what I was doing back when he recorded our episode. I am currently both the medical director of a website called way of life calm, and also more relevantly for this crowd. I am president of the psychedelic medicine Association. So Mike has asked me to give you predictions for 2021. And I would say my biggest prediction is that mental health will be taken over by psychedelic medicines. There are a lot of psychedelic medicines that are in phase two and phase three trials with the FDA starting in phase one, I think they’re going to really revolutionize both mental and therefore physical health. In fact, there are some psychedelics that are currently being investigated strictly for physical health conditions. Although we mostly know at this point, nothing is just physical. But if you are looking toward the future, as a physician entrepreneur, I would take a look at psychedelic medicines, because that’s absolutely the next wave of things because there’s proving to be much more efficacious than what we have now. So also, if you are a practitioner, and you want to know more, head over to the psychedelic medicine Association, which can be found at psychedelic medicine, association.org. I hope you all have a fantastic 2021.
Dr. Mike Woo-Ming
Hi, thanks, Lynn Marie. Now, I first met this doctor, when he had put a post on a Facebook group on how he was interested in finding other doctors who were interested in passive income, which was just music to my ears. And I went to his little meetup in Los Angeles when you could still do that, and got to meet him as well as other doctors who had the same line of thinking that I had. He’s now since gone to even more incredible things, even launching the biggest virtual summit for physicians in this space. It was called the leverage and growth summit, we had over 10,000 doctors join, you know him as the passive income MD, Dr. Peter Kim.
And now we got Peter Kim, on the call, Peter, thanks that we’re celebrating the 100th episode. It’s been a while since we’ve been chatting and you know, everything has been kind of blown up. Last week, we talked, I think we didn’t even have this. At least last time, I interviewed you what’s been going on with you all.
Dr. Peter Kim
Thanks so much. I want to start by saying thanks for having me as part of this. I think being part of bootstrap MD being on the podcast, it’s been a big part of my journey as well. So thanks for having me, it’s been a lot has happened. I mean, I feel like we’ve talked a bunch since then. But since that time in 2019, I think is the last time we’ve talked, I have really kind of really focused on trying to get the message out about real estate investing and entrepreneurship to as many physicians as possible. A lot of that has happened through a lot of these virtual conferences that I’ve run. One’s called the leverage and growth summit. And the other one’s called financial freedom through real estate. And both of those conferences, they are, you know, 1000s 1000s of physicians, over 10,000 physicians who were first one in 1000. Other one, so we just try to get as many people like on this mission, at least understand that there are so many different options for doctors, when it comes to creating income. And my I totally believe that if you’re able to do that, create other sources of income, it allows you to really practice medicine on your own terms. You know, whether that’s working full time, whether it’s working part time, whether it’s actually, you know, leaving medicine, if that’s the case, but whatever it is, you get to do it on your own terms. And so you know, you’re making that decision, and hopefully that makes you a happier doctor, happier person, happy, happier husband, wife, whatever that might be.
Dr. Mike Woo-Ming
So any projects or anything you want to share coming up for you and your company for 2021.
Dr. Peter Kim
Yeah, we’re just working on these virtual conferences and making them even better than they were before last year was an experiment and a lot of them are most our upcoming conference, the leverage and growth summit. This is our second annual one. It’s hopefully bigger and better this year, it will happen in March. And we’re hoping to even increase on top of the number of people that were there before again, just get it to as many people as possible.
Dr. Mike Woo-Ming
So you think virtual summit virtual summit. I mean, we were almost forced to write I mean, we Yeah, physical conferences. I know I’ve been physical and everything is going virtual. Do you think we’re going to go back to the physical or do you think virtual conferences is where you want to go in the future?
Dr. Peter Kim
I mean, Well, I’ll tell I’ll tell you I miss it. I miss the physical like in person conferences. I will tell you in 2019 I went to on average one little bit over one conference a month in person at least. So I went to a lot and I If you’re a conference junkie, whatever is, but I love the interaction, because I think so much, there’s the I get so much value out of just talking to people and connecting. And sometimes in networking, you get more out of it in a conversation that you did, even at the entire conference or even reading something in a book. So I find so much value out of it. I love I tried to recreate that in a virtual format, it doesn’t quite work the same. At the same time, what the virtual conference does and allows you to do is reach so many more people that wouldn’t be able to kind of leave their home, leave their families to spend that time and energy to come and see you and or see whatever you put on. And so I don’t think it’s going to, I mean, it’s not going anywhere, I promise you virtual summits and conferences now that we’ve created them. And the sheer numbers of people that have been attending these type of things, and people are getting used to them. I don’t think they’re going anywhere, they’re only going to continue to grow and the production level is increasing on these. So I have to step up my game. But I think people get a ton of value out of it, I think there’s gonna be always some tweaking as to how can make it best how to recreate some of this in person type stuff. But if people are interested in getting in on this, by no means is like the market saturated, just go out there and build one and create one.
Dr. Mike Woo-Ming
Yeah, and I know how hard you and your team may be working behind the scenes, I can’t even imagine what the next one is going to be like. So I’ve been asking the guests, these returning guests to come in my podcast guests, if they could share any wisdom, a tip or prediction that you have for 2021.
Dr. Peter Kim
Okay, I’m gonna come up with one. I think that well, I’m in the world of physician finance, when it comes to knowledge based business and physician finance, and a lot of people have told me all right, has that been saturated, has that been kept. But with everything that’s happened with COVID in the last year, with physicians, feeling job insecurity, with feeling health insecurity, with all the uncertainty around medicine, and things like that, I believe that finding alternative income streams, being smarter with your investments, finding, you know, passive income, real estate investing, these things are only going to become bigger for physicians in 2021. And I think that the number of people doing courses on it, doing conferences on it, trying to learn and go on websites about it, people launching these businesses, I think will only become bigger in 2021. And if again, if that’s something people are interested in it, I think this is a massive and great time to to jump in.
Dr. Mike Woo-Ming
I love that feeling of abundance. And when you launch to the leverage and growth conference that was already a part of I mean, you broke that kind of milestone in terms of amount of physicians, for this, whatever you call this thing that we do physician finances, as you called it, 10,000 physicians, and that’s a lot of doctors out there. But then how many doctors are in the you know, the US alone, like they’re in a a million. So that’s still 990,000 other doctors that are still out there to reach? And you know, I’ve always been beating it from a drum this financial position finance needs to be a required course in medical school. I’m sure you agree, correct?
Dr. Peter Kim
Oh, absolutely. I think that people who get exposed to it early on, it actually increases. I think, first of all career, longevity, sustainability. And they’re happier physicians, in my opinion, because a lot of the physicians that I’m seeing that are learning early, they get their figured out how to handle their debt. Well, they figured out how to do all make wise investments early on, and then they’re not they don’t feel so trapped within the system. And so it’s a big thing.
Dr. Mike Woo-Ming
Well, Peter, I know you’ve been busy, and they’ve got things behind the scenes. So thank you again, and you know, have a prosperous 2021.
Dr. Peter Kim
Well, congratulations on your 100th episode. Thank you for letting me be part of it.
Dr. Mike Woo-Ming
Thanks again to Dr. Peter Kim, if you want to hear more about his story, I interviewed him way back in Episode Number 30, where he learned as a busy anesthesiologist who needed to stop substituting time for money, get involved more in his real estate investments where he is now financially free. Now, if you’re someone who say, I’m just too busy, as a doctor to start a business, then you definitely need to listen to my next guest that we had interviewed way back in Episode Number 38. He started his first successful business as a resident. He’s probably one of the most prodigious physician entrepreneurs I know. Let’s talk to Dr. Christopher Loo. All right, we’ve got Dr. Christopher Loo. Chris, you’re one of our more popular guests that was on the program. We’re celebrating our 100th episode. So thanks for stopping by for a few minutes. What have you been up to my friend?
Dr. Christopher Loo
congratulations on the 100th episode, I believe appeared on your podcast a little bit over a year ago and like we all know last year was a quite a pivotal, pivotal.
Dr. Mike Woo-Ming
Not much has changed since then.
Dr. Christopher Loo
Yeah, exactly. Yeah, no. 2020 was hard for some but if you’re an entrepreneur, like You and your audience. Um, it was a year of quick pivots and just massive opportunities, a lot of opportunities in the equity markets, and just capitalizing on virtual meetings, seminars and moving everything to virtual environment. So I just got recently finished with a digital health consulting project in Seattle back in October, then took a month off. And I just just finished up a successful December workshop on helping clients learn how to successfully invest in short term rentals. Yeah, and my whole webinar workshop boot camp series started actually, in March of the pandemic, when everybody was freaking out and reaching out that there was a lot of turmoil. So I started this series to really, really help a broader audience and able to leverage technology and scale and Hello, more people make a greater impact. So that’s been my predominant focus. I’ve been really growing my social media following on Instagram, I got named as one of the top 50 doctors a follow on Instagram by board vitals. Um, yeah, it’s been, it’s been really good. I think last year, really leveraging social media and leveraging digital platforms, digital technology, virtual environments, really helped and saved a lot of businesses and help saved a lot of entrepreneurs. So, and it’s really interesting, because you see a lot of business models, especially in so many different sectors evolving because of this some whole pandemic. So I think what’s interesting is that, for example, back in 2008, when the whole crisis came, you know, a lot of companies including doordash, Airbnb, Uber, Lyft, they came in now they’re all IPOs. So even in this, from this year, you’re gonna see a lot of new innovative companies who eventually go public in the next, you know, eight to 10 years.
Dr. Mike Woo-Ming
Yeah, keep an eye on it. It’s funny, Chris, tonight, we have these, this weird thing over the last year, we have these one word tax. Like during the pandemic is really where I got into stock trading, because I knew that a lot of the stocks were going to drop, which they did, and just buy it at bargain bargain basement prices. And I remember we were talking and he said, You need to invest in Tesla, and now it’s over. And then he’ll like, say, Tesla, exclamation point. And then because it went high, and then I would respond, okay, I’ll buy a few. And then it drops, you know? And then I would go Tesla. It’s gone crazy. So I want to, I want to thank you for that. But yeah, that was the thing that for me, during the pandemic, is I really got into the stock trading and really learned about options trading. So it’s been a fun roller coaster ride, but thank you for for sharing that. So what do you have? Because I know you’re always kind of on the cutting edge, you know, what’s going on in social media? It sounds like you have your ear to like, what what’s going on, especially with physicians and entrepreneurship? What advice or tips or prediction you have for this year?
Dr. Christopher Loo
Um, well, I think I think 2021 is going to be really, you’re going to see really exponential changes from 2020. And so like I said, you’re going to see, for example, I think virtual reality is going to be really big. So I started, yeah, I actually got a Oculus quest to, for Christmas, just to learn about the technology and learn how to leverage that. And I think, you know, I recently added a virtual reality life series, in addition to my weekly webinars, so I think I think you’ll see a virtual reality come into play. Artificial Intelligence continues to make gains. And so I think, you know, there was recently in California, there was a rollout of autonomous delivery of vehicles, semi small vehicles that deliver food to college campuses. So I think, I think autonomous vehicles are going to be you know, you’ll start to see that and another kind of controversial area for physicians is the blockchain. So I wrote recently wrote a Kevin MD article talking about blockchain and how it relates to digital currencies and what it really means for the future of healthcare. So 2021 you’re gonna see a lot of action in digital currencies. I don’t, you know, again, buyer beware because it’s a lot of speculation and hype. So it’s not really, you know, as sound or solid investment, but it’s something to worth learning about and understanding and getting familiar with because I’m digital currencies are among the first applications of the blockchain. But the blockchain has so many other different applications that really we really haven’t explored. And especially in healthcare, for example, supply chain management, privacy, security. There’s a whole host of applications. So I think blockchain will continue to, to be in the forefront.
Dr. Mike Woo-Ming
Yeah. And unfortunately, as you know, in medicine, it’s we’re still antiquated. We’re always seem to behind the times. But yeah, you know, I love I love what you’re thinking, where can they go to find out more and follow your writing and your teachings
Dr. Christopher Loo
will have a link tree link. So it’s www.linktree.com. And it’s Dr. Chris Lu, MD, PhD. And I’ll send you the link. And then I’m also you follow me on Instagram, Dr. Chris Lu, MD, PhD on mad at almost 2500 followers now. My YouTube channels growing, you know, over 100, videos, Twitter, Dr. Christopher, MD, PhD, and you can always email me as well. So like I said, I’ve really leveraged social media and technology, and it’s really helped me leverage and expand my reach to my
Dr. Mike Woo-Ming
Yeah, so. So for you guys are listening and you want to, you know, I always think you can learn best from other examples, Chris is someone that you definitely want to follow. If you want to increase your social media presence. Chris, always great talking to you. Thanks again. And we’ll see you soon.
Dr. Christopher Loo
Thanks, Mike. See you next time.
Dr. Mike Woo-Ming
Thanks, Chris. Now, I would be remiss if I didn’t have my next guest on he was really the doctor who encouraged me to do a weekly podcast, because I can pretty much guarantee that the 100th episode would have been celebrated may 2027. And not this year, just encouraged me to do a weekly podcast. And every Saturday, an episode goes out. He’s also helped me in numerous ways, and probably the nicest doctors that I’ve ever met dr. john Eureka.
Dr. John Jurica
Hey, Mike, Dr. Mike Woo-Ming. Congratulations, I hear you’ve got 100 podcast episodes completed. That’s crazy. I can’t believe it. You’re catching up with me. I’m still doing my podcast I’m hitting about Episode 177 today. But man, it’s great to hear that you’ve made 100 episodes. And I want to congratulate you. And I tell you that I love your podcast, yours, as I’ve told you before, is the first one that I listened to each week, because I think it’s practical. It’s fun, it’s inspirational. And you really get to the core issues about starting your own business. So again, I’m very happy to say congratulations. Now what have I been up to? You know, I was on your podcast and episode number 25. That was over a year ago. And then I came on again with Tom Davis and Episode Number 68 to talk about the clinicians career cooperative. So that is still going that is not in sight form where mentors like you and a dozen or so others interact with members to teach them about unconventional non traditional careers, non clinical careers and so forth. So we just relaunched that. So people are interested, they should check it out at clinicians, cooperative.com. What else am I up to? I started the non clinical Career Academy, I think, since my first episode with you. So that’s where I teach online courses about non clinical careers. And actually, it does feature one with you, where you and I are talking about your book, and some of the things that you were teaching in the book. So no, that’s cool. What else? You know, I’ve learned something in this past year, which I didn’t know when I was talking to you on episode 28. And subsequently at your conference, because we were talking about lead generation and growing an email list and so forth. And I realized after that then another great way to grow your list is to do webinars. Now I learned this from john Lee Dumas of Entrepreneur on Fire. He has a whole series of webinars that he does, it kind of feeds into these funnels. But for the most part, what I’ve tried to do now is every month are to hold a webinar where I’m teaching potential students and I’ve got it set up that it to join, they have to join my email list as well. And I just teach them something for 30 or 45 minutes and I build my email list and they get something out of it. And then I can send them more information about things I’m doing. So that’s a bit of advice. I have a business advice from the standpoint of, of what you might try. If you’re in that early phase of building your business. Definitely do regular webinars that can be automated after the first few times that you do and that’s what I’m planning to do next. So that’s a recent thing I’ve learned. I hope it’s helpful. And again, Mike, I want I congratulate you on 100 awesome episodes, and keep up the good work. And hopefully we’ll get back together again, real soon. All right. Bye, Mike.
Dr. Mike Woo-Ming
Thank you, john. And I definitely encourage you to check out his podcast as well. He’s got some amazing guests on. And it really is essential learning if you’re a doctor looking for non clinical opportunities. Now, as I mentioned, at the top of my program, I felt almost like a lone wolf talking about physician entrepreneurship to other physicians. And it was difficult to even talk about other ways that you can generate revenue as an employed physician. But I wasn’t completely alone. There were some pioneers that were out there, and talking about non clinical opportunities, non clinical jobs, and one of them is one of my next guests, who I’ve gotten to know finally got to know for the last couple years, I’ve had the honor of being part of her conferences, and she’s probably one of the most influential doctors out there in the space. Let’s talk to Dr. Michelle Mudge-Riley. All right, Michelle, it’s great to see you again. I know a lot of my audience they love when they have you on. I just want to know what’s going on any new projects you want to share with us what’s going on with your life right now?
Dr. Michelle Mudge-Riley
Well, thanks so much for having me. Again, Mike. It’s always fun to talk with you. And I love your audience. I always have stuff going on. So let’s, let’s see. So we finished up the 2020 conferences, of course, they were virtual because of COVID. But it was really a great thing, because it really gave a new life to the conference and helps it to be more accessible to people because we went online. And so 2021 will also be a virtual year for the physicians helping physicians conference. And we got CME approved this year.
Dr. Mike Woo-Ming
Wow! That’s not only looking into it, that can not only be time consuming, but you know, it can be expensive as well.
Dr. Michelle Mudge-Riley
Yeah, but worth it. Because it’s really, it’s hard to get that CME and it’s a great way to also just use some of that money and actually get to be part of a conference that you might already want to be part of. So you maybe they’ll pay for it, maybe they’ll give you some time off. It’s just
Dr. Mike Woo-Ming
opened up some more, you know, opportunities for people who were thinking about it, but you know, it’s often hard to, to pay out of pocket. And for many of us doctors, we’ve got that CME allowance somewhere in there. So and I’ve always been an advocate is like this needs to be in terms of medical education, this is probably the best bang for the buck that you get by coming to one your conferences.
Dr. Michelle Mudge-Riley
Awesome. Thanks, thanks. Well, it’s gonna be the biggest yet. So we’re really excited all brand new speakers this year. Of course, we’ll have some old speakers back in maybe next year. And so everyone that loves hearing you speak, which are a lot of people will get to hear you again in the future does not in March. So we’ve got that going on. And then I also do non clinical work. In addition to running the conference and doing some coaching, I do consulting work, I’ve been on faculty at university, been an entrepreneur in residence and just recently, I signed a contract to start a new MSL job. So I will be working as a medical science liaison in a contract role for the next year as well. So that’ll be fun. And I’ll get to talk about all my experiences and I’m really looking forward to it.
Dr. Mike Woo-Ming
Well, it’s interesting to is at least the last few conference I’ve been to in two you’ve always had someone talking about MSL, so I guess you really walk in the walk so to speak, right?
Dr. Michelle Mudge-Riley
Absolutely. Well, I sort of feel like in order to provide the best information and advice, you really have to stay up on what a non clinical job and career is. And I mean, those are the people that give the best advice, the ones that are there, right, they’re doing it so you know, practicing the interview skills, keeping those sharp, making sure you’re staying on top of the trends with resumes and LinkedIn and networking. And, and for me, I just I love the work itself. So yeah, this is just another way for me to be in that non clinical world as a doctor and but still getting to serve in the way that I love to do which is helping others with their careers to the conference.
Dr. Mike Woo-Ming
Well, we’ll definitely need to have you back after now maybe a few months or a year after you do get so you could give us give us the scoop. So I’ve been asking all of my guests that I’ve been having on the special 100th episode about Any tips or words of advice, or maybe a prediction about 2021? For my audience, physician entrepreneurs? Great.
Dr. Michelle Mudge-Riley
Yeah. You know, when I think about the new year, it’s always a time for reflection for me. And I think other entrepreneurs feel that way too. And non entrepreneurs as well, it’s, it’s a time for people to turn over a new leaf to look ahead, to leave behind maybe some of the things that weren’t so good and run towards, you know, the hopes and the dreams that we all have of the new year. And I’m no different. I definitely think that way. But But this year, as I was reflecting of 2020, and what a tough year, it’s been looking at 2021. And all of us are really hanging our hopes on 2021 in the vaccine, and just ending this pandemic. I really started thinking, though, that being so I’m being so caught up in just thinking that 2021 is going to be it’s going to be the best year, it’s going to be so much better. Now. While I hope it will be. And while I don’t think you should be negative about it, it’s also going to inevitably bring some things that are not so good. And some frustrations. And I feel like when you hang all of your hopes on this next year, and and you just put all those eggs in that basket, it’s very easy to get frustrated and and upset and paralyzed with decisions. And you know, all of these things that cause us to just not have such a good year, when things inevitably go wrong. So I think for your audience, if you’re looking at the year, and you know, it’s good to look at it with a lot of that hope, but also know that, you know, it’s going to bring ups and downs, goods and Bad’s and just going ahead and not letting those things stop you just moving ahead no matter what even if the pandemic still keeps going for a little while, even if something else happens, where we’re all like, oh, what are we gonna do? You know, you just got to keep moving forward. And I know, that’s what you do, Mike, I mean, you’re great at pivoting and figuring out how to work in new situations. So that’s what I would say to all the entrepreneurs is just keep going, no matter what ups and downs, you can do this, you can set your goals, you can make those goals, so just go do it.
Dr. Mike Woo-Ming
And I like what you said to also not only just moving forward, but in terms of diversification. And I think a lot of doctors realize, Hey, I got this is my one job. It’s my one income, all the eggs in one basket. And now, you know, for for a few of them. Unfortunately, our colleagues, they either lost their job or anyone furloughed, and it just realizes, hey, just like what you’re doing with your businesses, real estate, maybe MSL positions, so many different opportunities. I think it’s definitely opened up some eyes in terms of that multiple streams of income that we all talk about.
Dr. Michelle Mudge-Riley
Yes, diversifying not only your income, but what you’re doing. Absolutely.
Dr. Mike Woo-Ming
I’m having fun doing it too, right. Yeah,
Dr. Michelle Mudge-Riley
yeah, exactly.
Dr. Mike Woo-Ming
All right, Michelle, again, we’re gonna need to get you back and want to find out with your new job position. But thanks again. And, as always, it’s always a challenge
Dr. Michelle Mudge-Riley
for you to see you later, Mike.
Dr. Mike Woo-Ming
Thanks, Michelle. If you want to hear more about Michelle and her story, check out episode number five. And number 67. She talks about her non clinical job journey, she’ll be having an amazing event coming up this spring, if you’re interested in non clinical opportunities, definitely encourage you to be a subscriber to this podcast. We’re going to talk more about that as we get closer to that event. Now on the bootstrap MD podcast, we’ve been able to highlight a number of successful physician entrepreneurs. We’ve also had non physician entrepreneurs as well. Throughout the years, I’ve been able to connect with and network with some of the biggest online business entrepreneurs that are out there. I’ve been hearing a lot from the listeners lately about more about online business strategies, such as how can I monetize my blog more? How can I launch a successful online course? How can I market myself better, and I hope to have more of those types of episodes in the upcoming months. And one of the most popular episodes that I still get feedback from his my next gentleman’s episode where I interviewed him. It was episode number 43. on how to how to write a book in under 60 minutes. And it again, it was one of the most talked about episodes we’ve ever launched. Let’s hear from Robert plank.
Robert Plank
What really great ideas do you wish you have implemented in your medical business in your online business? What really great advice Have you heard from Dr. Mike or from one of his games And you just never had the time to implement it. Well, lately, I have been hiring teams of employees to do things for me, like write emails for me, write books, edit books, creates covers and graphics, update old books and create new graphics, write promotional emails for me, edit and produce podcasts for me, find me new clients to edit unpublished podcasts and upload an edited podcast for them to hiring people. And having them do the work for you is one of the best things that that you could ever do. And maybe you have found yourself trying to pivot from some of those in office employees to remote workers. Or maybe you have to have to rebuild, or you’ve been even thinking about having remote workers do some of the tasks that you just don’t want your regular people to do whatever it is, there are three tools lately that have really made this possible. For me, tool number one is a task manager called Asana as a na, it’s free, just get the free level. And what you can do is create a list of tasks for yourself and say, Well, today, I want to name my podcast and you make it as a task. And you can set a due date or just leave it as something on your to do list, and then check it off and it’s done. And then when you bring someone else on board in your business or stay more organized, you can say, oh, here is this task that I want done. I want someone to spend one hour proofreading my book, and you assign it to Mike. And then when Mike goes in and does it, then you can see that he has checked it off. So this tool Asana is really great for managing even your current employees or your future employees, or your in office employees or your remote workers, just giving them 45 minute or so tasks to do and then checking it off. And this might even be some menial kind of work, it might be just write a quick email to blast to my patients telling them about, like our latest offer or our latest promotion. And what if you tasked someone an hour just to write a quick 100 word message. And that’s just something that you did not have to do. The second tool that has helped so much is another free tool. It’s a chat tool called slack. And if you if you use message, you know systems like you know, Facebook Messenger, WhatsApp, Skype, it’s the same idea only with Slack, you can use this app just for workplace activities and not have to mix your you know, I messaged with all of this, and you can create chat rooms and things like that. So slack helps so much, especially if your workers get stuck. Or if you’re having them clock in or out slack is a great place to chat with your employees, especially like we said, if they’re working remotely now, now you can stay in touch, and they can ask you about tasks. And then the third and final tool we’re talking about today is called Udemy u d, e m y. And this is a course marketplace, where for about $20, you can buy a course for your employee and teach them how to create graphics, how to write email marketing, copy how to publish books, you can just buy a course for them, and have them spend a week or two or however long it takes going through a course learn a new skill, and then have them finally just implement some of the things in your business that you’ve always wanted to go ahead and do like having an email sequence or having a new website or getting yourself on podcasts or finally getting into video marketing or social media marketing. Instead of having to hire a specialist or instead of having to learn it yourself or do it yourself. Buy a course on Udemy for one of your employees remote or or in person, chat with them on slack so that way they can check in and tell you how things are going and then use this tool called Asana where you can assign enough tasks to fill up the day and the week assign them to this person, have them leave a comment under the task and say I wrote this email for you I created this graphic for you and they can check those things off. Really think about if you have been hesitating about hiring a person or about getting into some of the more advanced online activities that you know you should be doing. Asana for task management, slack for chat and Udemy for the course that you buy to put them to learn this new skill and put them through this course My name is Robert plank from WWE hw book, my podcast and website Is marketer of the date.com. Dr. Mike is such a cool guy. He has a wonderful podcast, I’m sure he’s going to come out with many more 1000s of episodes in the future. Please continue listening, you’re going to love it. And most of all, importantly, continue implementing the things that he teaches and tells you and the things that his guests say. And if you’re stuck, then contact me contact Mike, or have an employee use these three tools to get it done.
Dr. Mike Woo-Ming
Thanks, Robert. Thanks for the kind words, you know, straight out of the gate just giving you guys great content, great nuggets of information. If you want to hear more from Robert hemming his, his marketing genius, you need to check out his podcast, Marketer of the day with Robert Plank podcast, subscribe to it, you won’t regret it. And my next guest really encapsulates what it is to be a bootstrapped MD. This search and really had to reinvent himself. He bootstrapped his business, and in 73 days he was able to develop a six figure income. If you want to hear more about his story you can find out in Episode 19. Let’s see what Dr. George Huang is up to. All right, we got the illustrious Dr. George Huang here. And George, your episode was one of the most well received a podcast episodes that I’ve done. And what was interesting is, it was one of the few that you actually came down to San Diego not just to my office. It just so happened that you were there and we decided to record a podcast and if I remember we did it twice.
Dr. George Huang
Oh, that’s right. The first time. It didn’t take us in no problem. We’ll do it over.
Dr. Mike Woo-Ming
Yeah. What a trooper. Well, what are you up to? It’s been a while since we’ve chatted,
Dr. George Huang
it has Yeah, so part of my journey. I think when we last spoke, I was working and I still have some clients who are holistic physicians. And but what happened since then is I found out about a an online video conferencing and networking platform. It’s called Remo not the drum company, but Remo Remo CO and so I started using it. And I started I had a conversation with the CEO and Founder and this is like I discovered this platform in November of 2019 2019. And then I started having conversations that turn into almost daily conversations starting December 2019 and heading into January 2020. And given you know I’m a strategist, I have worked with entrepreneurs literally from around the world. I’ve created financial software for entrepreneurs, I’m a conversion copywriter since giving all these tips based on that experience and one thing led to another and for the first several months I was really volunteering my time literally even into whatever it was that
Dr. Mike Woo-Ming
you’re just a customer at the time you like the product
Dr. George Huang
I love the product yeah and I was volunteering my advice and then it got to the point where as volunteering more time for remote then I was spending time with my business that paid me money. Ah so So long story short, so now I’m a full time member of the team I have an equity stake in the company and our valuation has just skyrocketed our customer base is skyrocket we’ve converted converted from being a kind of like the proverbial build the airplane as you fly. We ditched that we we’ve now we’re now building the rocket plane as we the rocket ship as we fly.
Dr. Mike Woo-Ming
And just we’ll have the link in the show notes. Yeah. Is our E mo Have you spelled it just
Dr. George Huang
re mo
Dr. Mike Woo-Ming
and so what have you like that platform as opposed to all the zooms of the world? And yeah, well that
Dr. George Huang
question when I so remos unique and different because when you come into this space you will see a virtual conference room or whatever we call it a floor plan you can have whatever floor plan you want. You can have a beach scene if you want you have tables and seats in a beach or in a conference room or in a on a spaceship if you want okay and it what’s different about us compared to say zoom is that we can you can move freely at will from table to table and from floor to floor and from virtual building to virtual building. Whereas in zoom until they they had the breakout rooms but until recently you were stuck in breakout rooms called zoom jail. Right? But it’s just you’re there you see other people but here we have visuals that give you orientation and that set the mood and set the the environment for the type of meeting or conversation you want to have
Dr. Mike Woo-Ming
Wow, yeah, you just timed it right? Yeah,
Dr. George Huang
exactly. Yeah.
Dr. Mike Woo-Ming
Wow. That’s great. Well, what I’ve been asking my returning podcast guests is, you know, what do you have? What can you share with our with our physician entrepreneurs, whether it’s a tip or some advice, or maybe prediction for the for this year?
Dr. George Huang
Yeah. So my number one tip would be to, if you’re not doing it already, get involved with producing and hosting online events with Coronavirus. It’s not too late if you haven’t done it, but with Coronavirus, more and more people have gotten used to being online. And whether it’s work from home online or go get education online or attend other events online, all the above. The reason I recommend doing that is because even once Coronavirus, settles down which it will at a certain point who knows exactly when vaccine or not. But it will settle down. And but we’re not going back to the way things used to be we’re going to have a world where we have a combination of live events and virtual events, hybrid events. So virtual events are going to come become even more popular. So for physician entrepreneurs, no matter what area of entrepreneurship, you’re involved with, more than likely you will find a place for virtual events in your business and your business model.
Dr. Mike Woo-Ming
Yeah, I mean, you know, now, you know, zoom and VH is just commonplace for me. You know, my kids, and I’m sure your kids with school, and everything. And we’re just used to it now. And now. It’s like, I’m looking at things like like in real estate, and they have to Okay, well, where am I going to have my online part in the in the house? What am I going to be recording this? Yeah. And, you know, it’s, it’s just, you know, there’s there’s obviously the Coronavirus, it’s been pretty, it’s taken its toll. But if you could find a silver lining to it, it’s now we are just more accustomed to talking on a computer talking in front of our camera. And it’s just, the sharing of information is just gone, you know, a thousandfold.
Dr. George Huang
And absolutely, and there are advantages to virtual that more and more people are discovering, because now you have international reach in a heartbeat in a few clicks, you’re International. And that that opens up opportunities for meeting people that you normally wouldn’t have met and developing collaborations that you couldn’t have developed before.
Dr. Mike Woo-Ming
Wow. Well, you got to listen to Dr. Huang. You don’t have to let me know the next time you the company that you’re going to envision you’re going to predict because it seems like you’re definitely ahead of the curve about what’s coming up. So, George, it’s always good to see you and let’s stay in touch. Thanks again. Thanks, George. My next guest also has one of our most downloaded episodes was way back in Episode Number three, where he shared with us in overlook passive income strategy. Let’s talk to my friend Travis Tollestrup, and see what he’s up to.
Travis Tollestrup, my friend, how are you doing? It’s been a while since we’ve chatted. I just want to know what what are you currently working on something that you could share with our audience today?
Travis Tollestrup
Oh, thanks for thanks for having me back here real quick. Dr. Mike, we have been busy. We have been super busy. As you remember, we talked a little bit about self directed IRA investing in one of
Dr. Mike Woo-Ming
our most popular episodes.
Travis Tollestrup
Oh, that’s that’s exciting to hear. And and I I don’t see it slowing down. I feel like that that knowledge is kind of being brought out into the mainstream, and a lot of people don’t know about it. So I think it’s super neat. We spend a lot of time doing that helping doctors. We’re out. If you remember, we’re out investing in a lot in the Midwest, right? So we’re out in Kansas, we’re in Indianapolis. And we just we love the bread and butter deals that we can pick up there. And we’ve we actually hit phase one of our mission, which was to help 100 families get a home that they didn’t think they could get through a lease with the option to purchase. And that’s been exciting. And none of that could have happened without any of our private lenders who are mostly doctors and surgeons. So we really appreciate that a lot of them investing out of tax deferred, some tax free vehicles. There’s a little bit of structuring that needs to happen just because a lot of doctors are high income earners. So to actually qualify for one of the tax free accounts, is a little bit more difficult, but with some strategy, it can help Definitely be done. But for the most part, they’re investing at a tax deferred, or just taxable buckets. But it’s exciting. We, you know, this, on average, were placing a new family into a home at least once a week. Wow, that’s been really, really good. And we hope to double that. So we’ve, we’ve been in one in one of our markets, we we’ve helped 100 families. And that took us about 36 months. And renovations were our main bottleneck, right? herding, herding cats with contractors, right if you’ve ever done some of that, but the neat thing is we do a lot of that. And the private investors don’t have to worry about that. They just collect their monthly interest checks, and, but we keep them apprised of everything we’re doing with lots of cool updates. So but it’s been fun, we’ve been blessed. And it’s interesting, through a pandemic, we’ve actually seen showings, we’ve actually tripled our number of showings doubled the number of applications we have on these properties. And the bulk of them have been essential workers, right, that are that have money that have disposable income, and just looking to, you know, have a chance to get their own home, through the rent to own program that we that we do together with our investors. So it’s been great.
Dr. Mike Woo-Ming
Yeah, and I know just kind of the buzz now is more physicians are getting into real estate investing just more passive income. And yeah, it’s an episode you guys really have to check out. So I’ve been asking my my guests about what predictions or a tip you have. I mean, with the new year comes new goals, new projects, new ideas, something they haven’t considered in the past, what can you give, to share with our audience today for 2021?
Travis Tollestrup
Oh, wow, that’s a loaded question. Lots of things here. But you know, one thing I would say you mentioned, more and more are starting to gravitate towards this, the security and predictability and control that they have over a real estate based investment. And I don’t see things changing anytime soon, with the you know, rates will probably stay a little bit lower. I wish I had a crystal ball about how this foreclosure and eviction moratorium, you know how that’s going to affect the markets, there will be some Fallout and shakeout on that. But I would, my tip would be if you haven’t gotten involved, I definitely would suggest finding an experienced operator that’s doing this full time, we’re a little bit different, this is more self serving, but it’s like we the doctors that invest with us, it’s it, they’re secured specifically with a note and a mortgage or a deed of trust secured to an actual property. So it’s different than investing in fun in a fund where you, you know, you’re buying shares. And and some people like that, they like that additional security. But I would say jump in, you know, the water’s great, you know, and it’s and it’s predictable, and it’s secure. And I feel like, you know, it needs to be a portion of your portfolio. I know, there’s lots of other options, you know, that might be you know, faster moving, projected returns are much higher. But I think your foundation, it’s just a great opportunity. And then if you can, you know, learn to do it in a tax deferred or tax free environment, man that just, you know, that optimizes your rate of return, which is just huge. So, but yeah, I would say, you know, really get going private lending is becoming more and more of a trend, you know, for physician entrepreneurs and allowing them to kind of see that light at the end of the tunnel, you know, where their passive income ultimately will replace their active income and just start to provide more flexibility and options.
Dr. Mike Woo-Ming
Right being the bank as opposed to the bank, and a pen control and Best place best place to reach out to Travis
Travis Tollestrup
Capstone funding group comm we’ve got a free private lender FAQs guide there for you and happy to get on the phone and even if it’s just a you know, second set of fresh eyes, you know, on anything you’re doing or looking at a lot of times we we do that you know, we’ve done a lot of planning with people and I really enjoy that so it’s very fulfilling, but yeah, please reach out. Anything I can do to be of help helping you kind of jump into that game. A lot of our people come in passively but we do you know, also coach some people actively that do duplicate our model. And are having lots of success. So, but anyway, yeah, all the best in 2021 This is exciting.
Dr. Mike Woo-Ming
All right, Travis. So good for him for you and and same to you ever wonderful 2021. And just so great with what you’re doing and helping those families.
Travis Tollestrup
Thank you, sir.
Dr. Mike Woo-Ming
Thank you, Travis. Now last but certainly not least, we cannot complete the special 100th episode of the bootstrap MD podcast. Without the efforts of my next guest. She has been featured in a total of six episodes, Episode Number 21, number 26. Number 31. Number 44. Number 57. And just recently on episode number 99, he was a speaker and my first BootstrapMD md conference, and then became my business partner on the second bootstrap MD conference. If you’ve been a listener to my podcast, she really needs no introduction, my good friend, you know, or your lover, Dr. H coborn. My Isha How you doing?
Dr. Maiysha Clairborne
My friend! good to be back.
Dr. Mike Woo-Ming
It’s been a long time. And and as you know, I’ve been asking guests, he’s kind of updating them on what they’re at what projects are you like, what are you currently working on right now?
Dr. Maiysha Clairborne
Well, so as those of you those of the listeners and you know who have who have followed me, you know that I’ve transitioned into the mind remapping Academy. So I now you know, my big slogan and our past time together and our past conference, the boot camp and be live was, you know, get your mind, right. And that actually led me somewhere. I am an NLP trainer, and hypnosis trainer and master NLP coach. And I thought it was time for me to bring that training forward. So I started the mind remapping Academy, and I’m now teaching and training and certifying others in neuro linguistic programming, and hypnosis, and, and actually as coaches. So we’re the big project that I’m working on now is we have our upcoming training here in a couple of weeks, and I’m just getting people in.
Dr. Mike Woo-Ming
So what type of physician would be right for this type of training?
Dr. Maiysha Clairborne
Wow. So you know, first of all, there are some physicians who just know they they’re interested in NLP, they’re interested in hypnosis and, and I’ve had doctors reach out to me who have been looking, so if that’s you, then just just go ahead and reach out to me, other dogs, you know, if you are wanting to be a coach, if you’ve been considering coaching as an option, this type of work, this type of coaching training, is above and beyond the rest type the rest of the coaching trainings, because it gives you additional tools in your toolbox that are not given in traditional coach trainings, that allow you to elevate your results, get your result haven’t have your results be deeper, faster, better. And at the same time, you also get that personal development in yourself. And you get to the root of why why you think the way you do, why you behave, your beliefs and the access to shifting those into a more empowering place so that you can effectively grow your business or coaching practice. So those are the two types of people, those who already know they’ve been interested. Because you’re interested, you either know you don’t know, right? You know about it, and you’re interested, or you don’t know about it, and you’re wondering, and those who are wondering, these are these are the dogs who are thinking about becoming coaches.
Dr. Mike Woo-Ming
That’s awesome. That’s awesome. And I think it’s so rare. Since I’ve used NLP in my life. And I’ve seen the benefits, you know, from that it’s such a powerful, powerful mindset, powerful strategy. Do you have any tips or advice you want to give to our listeners going into 2021?
Dr. Maiysha Clairborne
Yeah, well, speaking of get your mind, right. Um, you know, when we look back at 2020, it was it was a challenging year in many respects. And I saw Yeah, man, that’s at least to say the least. And I saw I’ve seen a lot of means coming up on this final quarter of 2020. Like, no flooring away, 2020 or 2020 what 2020 is like, and I think that and then even people who are like, you know, don’t claim 2021 as your own and don’t, you know, get really skeptical about the coming year. But I think that it’s important to number one, acknowledge what you’ve learned in 2020 acknowledge what you’ve accomplished in 2020. Right. Not to necessarily ignore the bad, but to refocus and take the good with the bad without darkness there can be no light right? Then the 2020 has gone now it’s the past. And while things may not have much change in the world of the pandemic, we are still at the source of creating our lives. Every one of you out there are at the source. And you know, one of the things I teach in NLP is that no matter the circumstances, you’re at the helm, you’re in the driver’s seat. So what are you going to do with the blank pages of 2021? You get to choose.
Dr. Mike Woo-Ming
See that NLP you just did? I’m already imagining the the pages I need to fill that in. This is man, it’s so powerful. Mikey, we’re gonna go to get more information about what you’re currently doing. What’s the best place?
Dr. Maiysha Clairborne
Yeah, so if you want to learn more about the NLP and the mind mapping, if you want to learn more about the upcoming training, just go to remap my mind.com. That’s remap my mind.com.
Dr. Mike Woo-Ming
All right, and we’ll have the links in our show notes. My Isha. It’s so great to see you again. We got it. Yes. All right. Well,
Dr. Maiysha Clairborne
congratulations on your 100th episode.
Dr. Mike Woo-Ming
Thanks again.
Dr. Maiysha Clairborne
Thank you.
Dr. Mike Woo-Ming
And that’s a wrap 100 episodes in the bank. If you made it all the way through. Congratulations to yourself. I want to thank Dr. Lynn Marie Morski, Dr. Michelle Mudge-Riley, Travis Tollestrup, Dr. George Huang, Dr. Maiysha Clairborne, Dr. John Jurica, Dr. Peter Kim, Robert plank and Dr. Christopher Loo. Again, I wish it could have had all of my guests and again, I wish I could have had all of you on but love all you guys. You know who you are. And you all contributed to the success of this podcast. And if you’re a listener, and you would like to be spotlighted. Feel free to drop us a line at bootstrap MD comm if you want to go to past recordings, past podcast recordings, you can find that also on the website at BootstrapMD me.com slash podcast. Feel free to subscribe. We’re on iTunes, Stitcher, Spotify or wherever you listen to podcasts. As always, guys, I hope in some way, I helped inspire you motivated, you kicked your butt a little bit with some tough love. If you’re looking to start your own business, don’t let the naysayers stop you from doing it. Listen to the person inside of you and keep moving forward.