A must-read for all business owners
Attention Physicians: If You're Sick of Life on a Treadmill, and Want an "Add water + 2 eggs and mix" Approach to Starting Your Own Business while keeping your day job --
-- Finally, there's a way to get your “other” dream business up and running – quickly and professionally, while you keep your day job.
Watch, as you rapidly become the owner of a well-thought out business, differentiate yourself from the competition, and fill your appointment book with customers who are glad to pay you what you’re worth ... all in a matter of months!
In the space of 6 to 9 months, you can create the business that is your ticket to freedom from the “grind” of practice. Without losing a day of work as a physician!
If this interests you, read on…
From the desk of Philippa Kennealy MD MPH CPCC PCC
Dear physician colleague,
I've spent years speaking to many of you and seeking to understand the challenges you face every day as a doctor.
So just what is driving doctors crazy?
Practice is getting harder and harder, and many of you are considering leaving medicine altogether, finding some other way to practice, or looking for creative and entrepreneurial ways to use your existing skills.
Here's what I've heard you tell me:
- For much of the time, being a doctor in practice these days stinks!
- You hate not being in control of your time and your life.
- You'd love to feel a sense of purpose and excitement about your work again.
- You'd love to do something different.
- ... but you don't know how to go about doing it
- … and you certainly don’t have the time to devote to a project of this size!
In other words, you're already successful, but super busy and totally overworked!
And the thought of starting again and possibly risking all you've worked for is overwhelming.
Some of you are even concerned that you’d have to go back to school and get an MBA to be better equipped to run your own business.
Well, The Entrepreneurial MD has been listening...
... and I can tell you right now that an MBA isn't required! You can put that $80,000 into your business instead.
When imagining their new business, most busy professionals love the creative part -- dreaming up the business and picturing their sense of fulfillment and reward once the business is up and running.
Where they get bogged down is in the details!
Details such as:
- How do I figure out if there's a real need for my idea?
- How do I figure out the financials?
- How do I create an operations plan to bring my idea to life?
- How do I complete all the necessary organization details, like decide on a name? And a logo? And put up a website?
- How do I get all the legal stuff done?
- And most importantly: Where do I get the right help with the wide variety of nitty-gritty details?
So when we spoke, I asked you:
- How valuable would it be if all you had to do to start a business was talk on the phone a few times a month with an experienced business coach to make the important decisions about your business?
- … And if just about everything else to do with getting your business off the ground were handled by a knowledgeable business start-up team?
You told me what you would want, we heard you, and The Entrepreneurial MD got to work.
Here is our response.
The Entrepreneurial MD teams up!
Although my one-on-one coaching business continues to thrive, I realize my physician clients want and deserve more from The Entrepreneurial MD.
So I've teamed up with a nationally-known business start-up expert who specializes in working with age 50+ clients who want to create and build their own businesses.
Jeff Williams of Bizstarters has developed a business start-up process proven over many years through use by more than 4,000 new entrepreneurs. Jeff has also assembled a superb team of professionals - including copywriters, graphic and web designers, QuickBooks consultants, CPAs, and an array of other resources to support a rapid business launch.
It made absolute sense for The Entrepreneurial MD to partner with Bizstarters to bring you the very best business expertise and support to get you started quickly in your own business!
Jeff and I spent many months working together to design the best and most efficient business start-up program, and The Entrepreneurial MD Business Start-Up Program is our response to your desire for help in building a solid business
What the The Entrepreneurial MD Business Start-Up Program offers you.
This comprehensive business start-up program provides you the following:
- You come to us with your viable idea for a start-up business. If you’re not sure, we initially help you decide if it’s viable!
- You receive business coaching support and guidance to make the sound business decisions that minimize costly start-up mistakes.
- Your personal time commitment to the handling the nuts and bolts of your business start-up is reduced to just a few hours per month, so you can keep on working in your revenue-producing practice. You save hours of time by having us do all your leg-work.
- You save money, by taking advantage of the very favorable prices that the Entrepreneurial MD and Bizstarters have been able to negotiate with an array of highly experienced service professionals.
- You'll have rapid access to a team of experts to get your business up and running on a solid footing.
- You minimize the risk of a start-up because you are working with seasoned professionals who will walk you through the discipline of creating good foundations for your business.
What You'll Receive as a Program Participant
In just two to three hours per month of your time, we guide you to:
Evaluate Your Business Idea
We lead you through a series of goal-setting exercises, including:
- Peak Experience Exercise – Where you describe your personal and business's core values.
- Future Self Exercise – Where you describe your your personal and business's preferred future.
- Life & Business Purpose Exercise – Where you describe the mission for your new business and how that mission supports your life mission.
- Business Vision Exercise – Where you describe your preferred path for the growth of your business.
- Goals Worksheet – Where you describe in detail what objectives you must achieve to bring your personal and business vision to life.
Create A Written Description Of Your Business Model
We guide you through the use of the nationally-renowned One-Page Business Plan process to create a short, but powerful description of your desired business model, including:
- Write a short, but very descriptive Executive Summary of your business plan.
- Estimate your start-up and operating expenses.
- Describe your pricing and/or fee structure.
- Complete a one-year Profit & Loss Projection.
- Describe your marketing strategy and detail your promotional action plan to bring your strategy to life.
Fast-Track Your Marketing Knowledge
Included with the Entrepreneurial MD Business Start-Up Program planning guide is The Entrepreneurial MD Marketing Mastery Program, where you gain a solid education in the fundamentals of profitable marketing through use of the 5 CDs and accompanying workbook.
Organize Your Company
We guide you to create a sound foundation for your new business by helping you complete a series of key action steps, including:
- We help you select a location for your business.
- We use your input to develop a strong business identity.
- We obtain an eye-catching logo design for your business.
- We make available expert advice on which legal form to use for your business.
- We legally register your business.
- We obtain your business identity materials
- We check out all relevant government regulations to assure compliance.
- We present a plan for setting up your office space.
- We provide expert assistance in computerizing your business.
- We arrange relationships with local business support services for your business.
Prepare You To Market & Sell
They key to success in your new business is to identify, approach and sell customers and gain repeat sales through outstanding customer service.
We complete a number of key marketing support task for you, including:
- The design and copy-writing for a compelling sales-support website.
- The creation of a professional press kit and the copy-writing of a series of attention-getting press stories.
- The development of a one-year calendar of promotional events, including a budget for each event.
- The design of a sales lead generation system and an automated sales follow-up process to assure quick response to prospect inquiries and customer needs.
- The design of a customer service system that drives both repeat and referral sales.
Develop A Sound Financial Management System For Your Business
Earning and retaining profit from selling your product or service is what keeps your business growing.
To assure that you exercise discipline in managing your business’s financial affairs, we complete for you of a series of financial management tasks, including:
- We set up a local banking relationship for your business.
- We have accounting software installed on your business computer system and we provide a tutorial on its use.
- We examine the full breadth of insurance coverage for you and your business and make recommendations where needed.
- We work with your accountant (or help you find one) to assure that you have a sound tax planning system set up.
Develop An Operations System For Your Business
It is fairly easy to handle the administration of a few sales per week plus a few sales prospecting calls without a formal operations plan.
But, to create a business with unlimited growth potential, you need to use every proven management technique available.
We complete a series of operations tasks for you:
- We recommend the most effective telecommunications options for your business.
- We recommend a personnel recruiting and retention plan.
- We set up your production and delivery system.
- We organize your business processes with appropriate operations manuals.
A Word of Caution
Starting a business is not a small undertaking, no matter how limited its scope.
It involves clear, disciplined thinking, a tenacious sense of purpose and the willingness to ask for help and learn from others.
As a result of our combined experience, Jeff and I believe strongly that you must be willing to make decisions in a timely manner in order to start and run a successful business.
Because we've both observed that it takes a certain kind of person to succeed in starting and running their own profitable business, we want to make sure that we're a good match for each other - you and us.
To help us both decide if, in fact, we are good match to help you achieve your entrepreneurial ambitions, we ask you to honestly answer the following questions.
If you answer "YES" to each of them, then we're a good fit, and we'd love to get started working with you right away.
- Am I ready to make a commitment to developing a new business or practice?
- Am I willing to be decisive once I have good information?
- Am I able to invest money in my business right away, to give it its best chance of succeeding?
- Can I devote enough time to getting this business off the ground over the next 6 to 9 months? (remember, we do most of your heavy lifting for you - but YOU have to make the decisions!)
- Am I good at asking for support and help?
- Am I willing to follow through, when necessary?
Participation in this program will be limited.
Although our goal is to support a growing number of entrepreneurial physicians each year over the next few years, we don't expect to provide start-up assistance to more than 15 in the remainder of 2008.
Let's find out if we're a good match!
If you'd like to explore the possibility of joining The Entrepreneurial MD Business Start-Up Program, please let us know by filling out the application below. Then we'll get back to you to set up a phone appointment.
Frequently Asked Questions about The Entrepreneurial MD
Business Start-Up Program
Q. How are you accepting physicians into this program?
A. After receiving your application, we'll contact you, within two business days, to set up a phone appointment to discuss your participation in the program. In that phone call, we'll jointly determine if the program is right for you. We'll answer all your questions.
Q. How is this program different from other business coaching programs?
A. The big difference is the depth of material and the "do-it-for-you support" you receive. You should consider this a Program to fully equip you to get your business up and running quickly.
It's best described as a "soup-to-nuts" program, that includes an intensive period of coaching and support. It's not a quick, here's-how-YOU-do-it" one-weekend workshop. That won't get you past your time pressure and inertia.
In addition, both Philippa and Jeff have a vast Rolodex of contacts and resources to tap into, for whatever your specialized need. We will be delighted to put you in contact with a huge array of people who are there to support your business and professional needs.
Q. Will study materials be required in the program?
A. All the Program materials will be available to you, including a 222 page Start-Up Guide with 28 major decisions that need to get made, one copy of the One Page Business PlanTM Point, Click, Plan software (to aid in writing a business plan), and a copy of The Entrepreneurial MD Marketing Mastery 5-CD and workbook program.
We'll also encourage you to build a library of the most practical and useful books on business development.
Q. Am I expected to devote myself full time to planning my new business?
A. No - far from it.
We are here to PREVENT that from happening. You may choose to, but most physicians have substantial financial commitments and cannot easily walk away from a practice or executive job. Our goal is to help you make a speedy transition so that you can leave your secure paycheck and step into a viable business. Most of our clients make this their full-time work - it's that interesting and creative and exciting! But others find ways to run a business with minimal self-involvement once it has been set up correctly and automated or delegated.
Q. If I apply, will I definitely be accepted into the program?
A. No. After we receive your application, one of us will interview you personally by phone and learn about your business idea, your goals and your intentions. We also need to know about your background so that we can assess your capacity for success as a business owner. This is definitely not for everyone and not everyone is accepted.
Q. Will I get personal coaching from you?
A. Yes. Both Jeff and I will be coaching you regularly by phone and we will set up several appointments in advance of each month. You have 28 important decisions to make! Our goal is to make sure you take no longer than nine months to get your business off the ground. Anything longer than that is less likely to succeed, in our opinion.
Q. When does the program start?
A. As soon as you are accepted! As this is an individual program that doesn't depend on the schedule of a group, you may start whenever you are ready.
Q. What does this program cost?
A: The Program costs $14,999.
However, we are offering a special introductory price of $11,999 for the remainder of 2009/early 2010. This is payable in installments.
On March 1st 2010, the program goes back to full price.
And a word about the price.
The average spent in the US in recent years on a business start-up was $10,000-$12,000 and that was before all the costly errors have to be reworked and fixed. And a $10,000 business was typically not a slick operation! In addition, Business Plan consultants charge up to $10,000 just to write a business plan.
If you act quickly and sign up with The Entrepreneurial MD's Business Start-Up Program, for just under $12,000, you will get a business up and running, with a minimum of your time spent on the tedious, time-consuming tasks. This frees you up to keep earning while your identity kit is assembled, your website is built, your QuickBooks is set up etc.
You’ll have a well-thought out business model, a One Page Business Plan™, a marketing plan, and all the operational trappings of a carefully planned start up.
Remember - We do all the leg-work and present you with the choices. All you have to do is make the decisions, with the support and guidance of your business coach.
There are optional add-ons depending on your needs, and you will decide if you want these services.
Q. Must I pay this all at once?
A: No. If you choose to do so, you will receive a 10% discount (you’ll only pay $10,799, which is a savings of $1200).
Otherwise, you will be able to pay in installments: $5,500 upon starting the coaching engagement, $4,000 at the beginning of month 3, and the remainder ($2,499) at the beginning of month 5.
Q. What if I need to discontinue the project?
A: If circumstances force you to stop, you will be responsible for only the services rendered to that date. As the completed coaching work is not refundable, and as our service providers must be paid for theirs, we cannot offer a full refund guarantee.
However, we CAN guarantee that we will bend over backwards to ensure your satisfaction. And that we will not bill you further for any services not yet delivered. In addition, we will refund that portion of your installment that has not yet been accounted for.
These reasons make it important that you sign up ONLY if you are ready to commit to building your business.If this answers most or all of your questions, I urge you to apply now. Sending in your application does not obligate you to anything but it will give you the opportunity to see if The Entrepreneurial MD Business Start-Up Program is for you or not.
And if you have any questions you'd like answered before filling out the application, please contact me here.
With my warmest wishes,
PS: There’s no need to be resigned to life on the treadmill. I'm a huge believer in helping physicians make their dreams come true. Especially if they want them badly enough! By simply filling in the application, you are taking one small step in the direction of your dream – the business you’ve been thinking about and just haven’t had the time to work on. We are ready to help you make it happen A.S.A.P!!