Is the entrepreneurial physician lifestyle your ticket to freedom?

We work to bring in the income we need to support our lifestyles.

But few are aware enough to spell out exactly what lifestyle it is we want.

Instead, we have some vague "thought floaters" drifting across our minds from time to time. A wish for more money. Or a new car. Or time to take a longer vacation. And isn't it just easier to complain to our buddies about what we hate about our lives or jobs?

The earliest step in becoming an entrepreneurial physician is often overlooked in the rush to get up the new shingle (or website - my pet peeve!).

Step One to becoming a physician business owner: Decide on your desired lifestyle before beginning any other business planning process.

Money. How much is enough to (a) eliminate your sense of financial pressure (be realistic - it's usually much less than you fear you have to have) and (b) create a sense of financial abundance?

Enjoyment. Repeat after me: There is NO law forbidding you to have fun while you work!!
You can actively choose to work with only nice or fun or interesting or appreciative clients or patients. You are free to build rewarding relationships with clients, colleagues, vendors or strategic partners. And you can come to love marketing all the valuable services and products you have to offer -- yes, I promise that this is possible!
In what ways do you choose to have more fun on the job?

Making a difference. As I have mentioned previously, I have been struck over the years by how consistently my clients have wanted to continue making a contribution, even as some have chosen to quit clinical practice and medicine.
Your business can be a way to leverage your skills and talents to contribute to even larger numbers of people. You can choose to become a leader and "steward" for your selected target market even if some of your "tribe" never spend a penny on your offerings. And, with luck, you can be an even greater charitable donor as your business takes off.
How can you still make a difference, even if you plan to leave clinical practice?

Managing your time. We are all allocated exactly the same amount of time every day (precisely 86,400 seconds). Your lifestyle depends on how you use your time.
How much time are you willing to spend at work?
How much leisure time will satisfy you?
What time will you stop throwing away?

The extras. A thoughtfully planned business can afford you more or better quality time for your family, your friends, interesting or fun travel, and your hobbies (your business may even develop from your hobby!).
While I work hard and sometimes long hours, I have never felt like I had to put my work above my family. My greatest accomplishment as a business owner has been to enjoy tremendous flexibility with my schedule.
What other bennies do you want your business to create in your life?

Question of the Day: Isn't it worth spending planning time on defining the real results you want from your entrepreneurial efforts?