Even though your earning potential is substantial as a medical professional, it comes with limitations. There are only so many patients you can care for and so many hours a day.

However, there's a transformative path that allows you to leverage your expertise, build a thriving business, implement efficient processes, and eventually sell it for a substantial profit, enabling you to lead a life of ease.

But how do you navigate this journey? What are the key strategies to create a successful practice? How do you master the art of selling it for maximum returns?

Today's episode holds the key to these questions.

Dr. Mike Woo-Ming, a pioneer in the freedompreneur movement, has the answers. He ventured beyond traditional medicine, creating a life many only dream of. Through Bootstrap MD, he has become a guiding light for others on a similar journey.

These are some of the topics we cover in our conversation:

Why you need to befriend people who achieved what you want to achieve
How to make your practice sellable to private equity
Finding the right buyer for your practice
Potential exits for doctors who have multiple clinics

Join us as he shares his wisdom, experiences, and invaluable insights, offering you a roadmap to financial independence and a life of abundance.

“Find people who are old, wealthy, and happy. And do the same things they’re doing. It’s so simple, but it makes sense.” - Dr. Mike Woo-Ming

In This Episode:

- How to get the courage to venture outside of medicine

- Finding what drives you to move forward

- How to make your practice sellable to private equity

- Finding the right buyer for your practice

- Potential exits for doctors who have multiple clinics

Resources:

- Join our Free community of high-performing physicians: the Physician Wealth Accelerator https://limitless-md.mn.co/

- https://vikramraya.com/programs/

- Sign up to my email list - https://vikramraya.com/

- Group Coaching Now Open. Click here to book a call: https://www.freedom5doc.com/home58481126

Resources mentioned:

- Book “Multiple Streams of Income: How to Generate a Lifetime of Unlimited Wealth!” by Robert G. Allen - https://www.amazon.com/Multiple-Streams-Income-Generate-Unlimited/dp/0471714550/

- Book “Multiple Streams of Internet Income: How Ordinary People Make Extraordinary Money Online” by Robert G. Allen - https://www.amazon.com/Multiple-Streams-Internet-Income-Extraordinary/dp/0471783277/

- Book “10x Is Easier Than 2x: How World-Class Entrepreneurs Achieve More by Doing Less” by Dan Sullivan and Dr. Benjamin Hardy - https://www.amazon.com/10x-Easier-Than-World-Class-Entrepreneurs/dp/140196995X/

Connect with Dr. Mike Woo-Ming:

- Freedom 5 Doc - https://www.freedom5doc.com/

- BootstrapMD - https://bootstrapmd.com/

Connect with Vikram:

- Website: https://vikramraya.com

- Instagram: https://www.instagram.com/vikramraya/

- Facebook: https://www.facebook.com/Vikramrayamd

- LinkedIn: http://www.linkwithvik.com

- YouTube: https://www.youtube.com/channel/UCdq9M-kD0L2hy1UlfOK-hwQ

Special Thank You to Music Provided by Music Library https://soundcloud.com/music-library-non-copyrighted-sounds/300-violin-orchestra-jorge-quintero-copyright-and-royalty-free

Friendly Friday: "Three headed MONSTER" | 4 Oct 2024 | Ep 402