Finance for Physicians How To Get Started As A Physician Entrepreneurship
What is one of the best opportunities you have to take back control of your professional life and avoid burnout from happening? Physician entrepreneurship.
In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Dr. Myrdalis Diaz-Ramirez about how to get started as a physician entrepreneur.
Dr. Díaz-Ramírez is a fellowship-trained, board-certified pain medicine physician and anesthesiologist with more than 20 years of experience. One of her passions is to help other physician entrepreneurs and future physicians design their lives to avoid burnout and be happy physicians practicing under their terms. She is the founder of maxAllure Mastermind and host of the Design Your Physician Life Podcast.
Topics Discussed:
- Physician Entrepreneurship: What is it, and why is it beneficial?
- maxAllure Mastermind: Physicians talk, advance, and acquire momentum
- Either entrepreneurs or not? Everything can be taught and learned
- Happiness = Significance, control, and contribution of what you do in life
- Entrepreneurship Opportunities: Investor, inventor, coach, etc., to regain control
- Mission/Vision: Treat your life as a business and find/define your ‘what’ and ‘why’
- Plan Priorities: Burnout is unsustainable and makes you unhappy, miserable
- Action Items:
- Recognize the problem and that change is needed
- Surround yourself with those who are successful and willing to help
- Join and participate in Facebook physician groups and masterminds
- Read/listen to Rich Dad Poor Dad and The Ultimate Jim Rohn Library
Links:
Dr. Myrdalis Diaz-Ramirez on LinkedIn
Leverage and Growth Summit for Physicians
Rich Dad Poor Dad by Robert Kiyosaki
Breaking Away From Traditional Primary Care to Start a Concierge Medical Practice
Contact Finance for Physicians
Full Episode Transcript:
Daniel: What's up everyone? Welcome to the Finance For Physicians podcast. I'm your host, Daniel Wrenne. Join me as we dig into what it looks like for physicians to begin using their finances as a tool to live better lives. You can learn more about our resources at financeforphysicians.co. Let's jump into today's episode.
Hey guys, hope you're having a great day. I'm excited to share my conversation I recently had with Dr. Myrdalis Diaz. We're going to be talking about what I would consider one of the best opportunities many of us have to really take control back in your life professionally and potentially move away from some of the burnout that's commonly happening. That's physician entrepreneurship.
Dr. Diaz has been through this herself. She started medical practices, she sold them. She has started an entertainment business even, and has recently started a practice in innovative medicine and has a business where she helps lead physicians and facilitates a mastermind group, which if you're not aware of what a mastermind group is, that's a fantastic way to kind of move this direction. You'll definitely get something out of that.
She also has a podcast called Design Your Physician Life, where she helps, throughout nuggets along the lines of physician entrepreneurship. She definitely has worked in this area and has experienced it herself. I think you're going to get some takeaways. At the end, she even shares a few specific action items to help you start making progress towards that, if that's the direction that you want to go in your life. So excited to share that. Without further ado, let's jump into it right now.
Hello, everyone. I am excited to be joined by my guest, Dr. Myrdalis Diaz today and we're going to be talking about physician entrepreneurship, which I love as a topic. I'm an entrepreneur myself. Dr. Diaz is an entrepreneur and has been through many, many different experiences. We're going to get into all that sort of experience and what that looks like to be a physician entrepreneur. Before we jump in, Dr. Diaz, I'd love it if you could give our listeners just a brief background about your story, how you got where you are today.
Myrdalis: Well, thanks a lot for having me on the program. I'm so excited to be here. I know that you work a lot with physicians struggling with this precise topic—entrepreneurship and finances—and that's what we've been doing. We have what we call the Physician Entrepreneur Exclusive maxAllure Mastermind. I created that because of my experience. As we discussed before, I've been through different entrepreneurial endeavors myself.
At some point not too long ago, we discovered this concept of mastermind where you basically meet to talk about one topic and to advance to acquire momentum for whatever your entrepreneurship or your activities. We decided to do that for physicians because as a physician, I'm truly concerned about what's happening in healthcare in terms of burnout.
We have physicians committing suicide 300–400 a year. That's 3–4 medical classes, and I've been burned out myself. I've experienced burnout and through entrepreneurship, we found that to be a great tool to get us out of that and then regain control and remain in control of our physician lives. That's where we have our podcast, Designed Your Physician Life. We give physicians specific tips on how they can regain that. Then our mastermind where we’ll meet for six months.
First, since I was very little, I was always entrepreneurial. When I was 7 years old, my father had businesses and I was always wanting to sell out of their businesses at a children's boutique. They have many different things going on. Besides the children’s boutique, they have an ice cream parlor. I would love to go there and take care of the clients. I'm telling you, I was already only 7 years old when I was doing these things.
Then throughout my life, I was always so happy when I was working and I don't know if that's something that I had in me. I always visualize when I had my job as a physician to have my office, out of the example of my pediatrician. My pediatrician would go to his office and it was so happy and they were really entrepreneurs, him and his partner. That whole concept of ownership and taking care of your clients, in our case, our patients was always really dear to me.
When it came to the time for me to have our clinic—I say “our” because my husband helped me do that clinic. By that time, I had already been designing pain clinics. I'm an interventional pain physician out of anesthesiology, and then we had our clinic. We develop them. We won prizes for them. Eventually, we successfully sold it so that we could take care of our family as our growing family, just trying to take advantage of oh, I'll just be a doctor for now and let somebody else deal with the business so I can have time for my family.
It's been seven years of that and I truly learned that really, that's not me. We're back. We had other clinics. We had another anti-aging clinic. Then we got into the entertainment business. I own songs, we were on TV, and media tours with our artists. Then we decided just for us to be the talent. Now the latest project, besides our mastermind for physicians, is really that we're putting together an innovative center, innovative medicine wellness center here in Sarasota, Florida.
Daniel: Yeah, it sounds like you've had a lot over the years and have experienced quite a bit. That's entrepreneurship, I think of quintessential. It sounds like you're an entrepreneur from a very, very early age. Some people kind of notice that early or see that they have the gift and pour into that. But I'm curious, especially being someone like you, do you think people are either an entrepreneur or they're not? Or do you think anyone has that in them? What are your thoughts on that?
Myrdalis: One of the things that we've studied about mindset, I think everything can be really taught, we are taught to be physicians. You might not want these responsibilities in one way but you want some other things. You might want to have a good experience for your patient or you have an idea and that comes to you. I think it can be learned on how to do that.
Like everything, we learn medicine. We are not born physicians. We know that we're healers. For the most part, we don't know how to do it, so we learned that. I think anybody can learn entrepreneurship like medicine, the same way that we invested time, learning all those things that took us to the point where we are physicians today. You still have to learn a lot of things to be an entrepreneur.
The fact that as a little child, I was so excited about all these things doesn't mean that I'm really an entrepreneur because I didn't know about finance, I didn't know about how to get money or get loans or get paid, this and that, and develop products. These things can be taught. Obviously, you have the people who have the tendency, who are more in their spirit, a little bit more restless about what they want to do and more defined. I think as physicians, if we're physicians, we can learn entrepreneurship. It's a great tool to really regain and remain in control of our physician lives.
Daniel: Tell me about that. I'm curious about regaining control, because I think that's a lot of the issue behind burnout. That's the challenge in the career. It's like I got into medicine because I love it, but now I'm hating my work. Can you talk about that regaining control aspect?
Myrdalis: Well, when we have our physicians come and I was there myself, we feel like we have so many people in between our plans or thoughts that we have for that patient. That patient, they experienced the physician, patient experience is really lost. We have no control nowadays—between the expectations from the government, insurance, hospitals, all these other costs, and things that are putting.
You've been trained to do something, then you get there, and you have some many obstacles to do them that when you get through entrepreneurship, you’re it. You're the head of the vessel, and then you're doing it. Now, what we find is that you're able to be a physician for pleasure, for joy, you're not a physician for need. That's what we've been trying to do.
Then regaining control is when you talk about the definition of happiness, the things that make people happy. One of them is to have significance and control of what they do in their lives and contribution. This is how the tool that we've identified really gives physicians that sort of freedom again. Once you learn these concepts, it's hard to go back, so you're able to regain control of your life and then you're able to remain gaining control of your physician life.
Daniel: Yeah. I think back, we had a prior episode, where my friends, Dr. Brown—both their last name is Brown, they're a married couple—but they were really kind of burned out in primary care and mainly because it was not how they saw, ideally medicine being practiced. That was their number one issue. That drove them to explore. They would not consider themselves like natural entrepreneurs, but that drove them to consider alternatives or solutions or whatever.
They explored and found concierge medical practices and started going down that route. Then basically started their own practice from scratch, where they could have practiced medicine on their terms. Now they're like, five years later, as happy as could be in their medical practice and can't imagine even retiring. It has become the solution to their burnout by actually starting business for themselves. I'm sure that a lot of people's stories in several years.
Myrdalis: Yes. We have them in our mastermind. You can find entrepreneurship within the medical practice, which is ideal for many. We still want to remain doctors. You can also find entrepreneurship by becoming, for example, a real estate investor, like we have many physicians who have as examples to come as coaches to our practice, and they decided that they wanted to invest it in one to really be in the part of doing so much of the work.
They found passive income through real estate investments like syndications and things like that. They become entrepreneurs that way. You have to have your own company. You have to learn about the laws of that, the taxes, and the benefits. You really have to learn that aspect and you're an entrepreneur like that, and then when they come back to be physicians, they don't have to worry about the income that the physician's life will give them.
They will be happier going to work. All these obstacles we have, that's okay, it doesn't matter, because I know I have something that I can leave out of by achieving financial independence and ideally, financial freedom through these other investments. You can do that. There's some other physicians who are also like, you know what, I'm just going to completely step out of medicine, but still use my physician skills and they might be going to become coaches directly for different sorts of topics, like I'm a coach right now for physician entrepreneurs.
That's what they want to do. Then some want to do a combination or outside. Some might find that they decided to invent the greatest next thing in medicine in terms of devices and they learn how to get money and get investors and laws through that process. The stories are amazing for how you can get that control back like your friends, Dr. Browns did.
Daniel: How do you start to find that or how do you start that path?
Myrdalis: Well, some people know what they want already. What I see is that many of our maxAllure Mastermind members are really burnt out. You're numb with the pain of this and you get lost, so you have to really do some work. One of the things that we do is that we try to define the vision and try to find you.
We go through a series of exercises where we find your vision. We treat your life as you would treat a business like trying to find the meaning, defining your mission, your vision, and then defining your why. Because if you will tell you, oh, you have to find your why. But you cannot think to find what these why they're talking to me about.
Daniel: What do you mean?
Myrdalis: Why? Why are you talking? We go through a series of exercises to define first the things that you would like to lead your life like you want to live your life based on what so we go through that exercise. Then let's go through your day. Let's define the analytic, find what you want out of life. Then once you know that, then we go into the different things that are your interest, maybe you have an idea, and you haven't explored it before.
Maybe you already have a business but you are kind of stuck. Maybe you want to learn a different skill. Then that's when we get into those but you really have to work on defining these things before being successful. Because it's not going to be based. One of the things that I found out when I was burned out is that you're so tired, you want something to happen. One of the things that you might want to get to is that I don't care what it is. I'll just add it into my life, and I'll see if it works. But it's not going to work if you don't have a solid plan, a solid base.
In medicine, we have all that, like we've been trained for so many years. That's there, the solid bases of knowledge. But we don't necessarily have the entrepreneurial concept. For example, somebody might come to you and say, as a doctor, do you want to be medical director for this? Then you’re thinking, oh my goodness, I'm so tired of this. This thing on the side could give me some extra money, and then I could get out of it. But do you really know what medical directorship would entail? Still, it’s not your business so we get all these things. We have to define that first. Then you get to see what things you want to do and you can be successful.
Daniel: Yeah, you mentioned real estate. A lot of people we work with bring up real estate or try or start into real estate, whether they start buying rental houses or syndications, or there's a bunch of different flavors of real estate. A lot of them struggle with it. I like what you said about values and purpose and leading with that. I think the number one reason where they get hung up on is like, you were also saying, it's like they're adding on, especially if you're buying real estate, like if you're buying a rental property, it's a completely new thing.
Myrdalis: It’s a business.
Daniel: A business, yes.
Myrdalis: One rental property should be seen as a business. One rental property should ideally have its own LLC, for asset protection, for tax purposes of business. Then you have to make sure that the rental you're buying, what the restrictions of the area are. Maybe you're going to get your rental, and then they're going to suddenly say, oh, we're not accepting any of that type of rentals anymore in the area. Then you have to have your team that's going to help you say you don't have to be with the toilet thing in the middle of the night.
Daniel: What if they leave? What if they don't pay? What's your late policy? Do you have a lease? What do you do when I've got one rental property and then now, I have none. I've got the call in the middle of the night, it's like the toilets are overflowing. Who handles that? Then what happens when it causes marital problems is your spouse is like, this is ridiculous. You don't get calls in the middle of the night to deal with the rental property when you already have a job.
I think the issue is that, well, there's a bunch of issues, but it's like adding on top of an already full plate. Like when you add stuff, you have to say no to other stuff. When you say yes to new stuff, you have to say no to other stuff, unless you have extra capacity. But if you're the type of person like all of us that's always saying they're busy all the time, in order for you to add a new thing, you have to say no to something else, because it's just like time and time out.
The values part is the other big thing. They don't have a passion at all. In fact, they have the reverse, they hate it. They're not interested or maybe they have a soft spot where they're not going to be able to collect rent or something or they just haven't gone through the process like you're describing.
Thinking about it, what's the purpose of it? What's my why? What's my values? What's the values of the business, and getting that right on the front end? First, before they even get into the business. It's just more like I did the business because my buddy said so or I did it because my parents did it and they made good money in it.
Myrdalis: Would you choose Urology because your parents said so?
Daniel: I mean, it's common. People do it all the time.
Myrdalis: Well, you wouldn't choose a medical specialty because your parents said, right? You wouldn't be into OBGYN or pediatrician. These are things that deliver passion to some extent, and for any business to be longer lasting, you should have some sort of passion. One of the things that physicians don't know is well, first, maybe your friend who has this successful house, well, they probably have a passion for it.
They have been loaned the knowledge that they have acquired somehow because to have a successful business, either do it through coaching or experience that you've had for a long time. It's a process. It's not just successful. The other thing is that your friends, they chose that and maybe they didn't choose something else because they didn't like that something else. For you to be able to choose, you have to know your options.
If you don't know your options, and you just grab whatever comes to you, you don't know if you're really doing a good investment. You have to learn about that to be successful. One thing is that nowadays more than ever, we have ways as physicians of learning these things. There's tons of people who are successful at this. I would tell you, don't do any financial investment without knowing about it, without being coached, without really finding your bases, covering them, then do your plan.
These are not emergencies. It's not an emergency that you have to buy. Nobody's bleeding. If you don't buy that house right now, and then that deal, it might tell you, this is going to be what the next deal is going to come. That sounds like there's no urgency for that. Oh, but she did. The numbers are changing. Things are just better, then you know what you want and how to do it before you invest that sort of money. Oh, actually, it's not an investment. It’s losing your money.
Daniel: Yeah, and none of us want to do that. Are there specific stories that come to mind for you of people that are hung up? I've had times in my life where I'm really overworked, and I'm thinking more of the hours—my plate’s full scenario. I know we work with some people that are in this situation.
There's something about when you have, say, it's your work and your work is 50–70 hours a week, or whatever, and you have a family at home with kids and commitments. That and you don't like it, or you're burned out, but there's no space in your life to even start to make any progress. How do you work through that if there's no space, because we know we've kind of gone through that hardship?
Myrdalis: We make the space. We have to learn about priorities. What's the priority here really, to get out of that situation, that burnout, because you're going to die. Either you're going to commit suicide, or you're going to be so unhappy, something bad's going to happen. You can lose your marriage. You can lose your children.
Daniel: It’s not sustainable.
Myrdalis: It's not sustainable. I'm going to give you this example, a wonderful example—bariatric surgeon, female, three children, with problems at home, on call, going to the hospital every single day for five years in a row, no vacation. With all these challenges coming with COVID, problems coming where the volumes went down, the pressures of the hospital, then wanting to partner with people who were really not quality physicians, and having directorship of three different programs.
She started these programs, brought a lot of resources for the hospital and more income, and still hasn't made any extra money on those positions that she has. She has no control over those things. Once we still remain in the community, how can you talk to somebody who every single day goes to the hospital? The other day, going out, goes out to dinner, goes home to her children and gets called to the hospital, goes home back again at four in the morning to start again at eight in the morning rounding for five years.
You tell it to somebody like this, they're exhausted, they don't know. You have to turn to them and tell them, you know what, this is what you're going to do. Sometimes that's what it takes. That's what it took for this physician. Now, with one hour of these meetings a week, they find out, once they define what they have to do, what they can do, what the possibilities are, that you can remain, then the time will come. You will make the time, trust me.
If somebody calls you that your house is burning, you're going to make the time. You're going to leave everything or something's happening to your child, you leave everything. Then you go there. This is what's happening. Our homes are burning. We're burned out. Our relationships are burned out—our relationships with ourselves, with our family, with our friends. We just have to make the time. If you make these commitments of one hour a week, you'll see how you make the time for the rest. Then you learn where you have to prioritize.
Now you learn what to say yes to and what to say no to. But it's a commitment you have to recognize. Like somebody who's sick, unfortunately somebody who is with an addiction, or a mental problem in some sort of way, which is this mental health. Burnout is mental health. Once you recognize that the problem is there, you have to seek the solution. It has to really come from you. Then we have the resources to do that.
Then after all this is taken care of, that's when you go to Daniel. Hey Daniel, where can I put my money? Which type of property? Is this a good deal? Because you're not going to invest in a good deal before you talk to Daniel, your financial adviser, and then you run the numbers by Daniel. Then he will tell you that deal doesn't sound good, don't invest there or this deal. Please don't let this one go. This is your time. But you have to solve all those things first.
Daniel: You got to get that balance. I mean, there's never a perfect balance too. That's another thing like perfectionism is kind of common itself. That's a separate problem. That's why I'm hesitant with the word balance, because it's not really possible.
Myrdalis: Well, it’s not perfect. For example, do I exercise every day? Do I meditate every day? I don't. I know the days that I do and I know that it's a priority. You have to do it everyday. That comes into habits. That's another section that we teach about habits and the things that you have to make you successful, but you have to be aware. These things have to come where you are intentionally planning your life, intentional planning your day, and it's not like you're going to go crazy doing the planning, but you're going to go crazy if you don't plan.
Daniel: Yeah, you got to take a timeout. I think even just having some silent time, maybe once a week, or I don't know, a little bit is key. If I take a day off of work and I'm solo by myself, and less interruptions, that's when most of the ideas start coming. You can kind of think outside your day-to-day but it does tie in to time, which is difficult, because time is already already in your head. You're used to these commitments. You have to carve it out at the end of the day.
Myrdalis: Yeah, but think about this. Do you want to be an information consumer all the time where you're consuming a movie that somebody else made, a TV show that somebody else made, and a news that somebody else made, whatever it is, all day long? Or do you want to be creative, free to be creative, you need that time, space, like nothing. It's not only talking about the cell phone or social media, anytime on your own, in the shower, whatever.
You need to have some time, or you can create something. You cannot create if you have noise in your head all the time and that you have to carve out. You have to carve out time for you to get out of the hole. You cannot get out of the problem if the hose is right there on top of you and you're staying under that hole. How are you going to dry it? You're never going to get dry. You're never going to get out of the problem. You have to get out of there.
Daniel: I mentioned perfectionism. I think it seems like that's common. I don't know, everybody's got a little bit of it. I have some of it in me. In medicine, I think that maybe they attract people that are perfectionists or maybe it's furthered in training. I don't know, but I think that makes it even more challenging, possibly to go the entrepreneurship route. Because entrepreneurship is like failures guaranteed pretty much. You're like putting yourself out there, in some ways, your idea, or whatever, you're putting it out in the world, and there's a chance it's going to completely flop.
Myrdalis: It's a combination of both things. The way that we go as physicians, we develop a career that you're expected to be the best from before. You're a doctor, right? The screening to be a physician, you have to be so good at so many things, or otherwise you won't be a physician. It starts way before from when we're very young. That's not to say that there's people who don't have the best reasons till they make it to medical school, and they're probably better physicians than anybody else. But it starts from there.
Then once you're in, forget it. If you make a mistake, something bad's going to happen. You don't want anything bad to happen. In terms of entrepreneurship, this is the same thing, like you fear. However, it's crazy, you have this doctor or somebody told me they purchased this home, I'm going to buy one and then just make it a rental but you know it doesn't make sense. Then they have more work instead of just trying and not being afraid at that point of failing because they think that they see one to one kind of thing too, which is not in this case.
But perfectionism, yes, it keeps us from doing a lot of things. One of the things that I mentioned is like this is not an emergency. So you can train yourself and there's a lot of teaching and resources and coaching that you can prepare yourself the same way you did for medicine. You don't have to wait as long. Obviously it is much quicker, like for us is six months and people are really doing great things within six months. Then you can prepare yourself before you go to failure.
Like anything else, if you do enough medicine, they say that you're going to be sued. I give people over 90% chance if you get into your 78th into your 60s, and you're practicing medicine, that at least you're going to be sued. It's not failure, but it's just something that’s not a good outcome that you have in your life. But the same thing with business, yes, you can fail. The important thing is that if you educate any of your plan, you're really going to mitigate the losses. That's where we have resources, and you really have just to carve that little time out. That's it.
Daniel: Yep, carving that time out. Do you have specific actions people can take to move? Maybe in doing the traditional practice, I'm grinding it out, working, and I'm like, ah, I got to change this. Something's got to change, something's got to give. Do you have specific actions that that type of person can take? I'm talking today, like quick steps?
Myrdalis: Well, first is recognizing that we all have a problem there. If you don't recognize that you really need change, you're not going to be because people can say, oh, you know what, that's okay. I have all these things, I can take it, and I can do it. I can just keep going. But we really have to take, like you were saying, that pause, and then think about ourselves first. So that would be the first thing that I would say.
Number two, we're really the sum of who we associate with. You are who you are hanging out with. If you're hanging out with people who are burned out, or negative all the time, that's the vibe that's going to surround your life. That's how you're going to behave. So you have to really surround yourself with people that you see more successful.
Maybe you identify somebody around you who's happier, maybe they have that rental that's really working really well for them. But he's not just going about to get a rental because they have one. It’s really asking them. Ask the people around you. They’re really willing to help. They're really wanting to tell people nowadays, what they've done that they're successful at, and they can hook you up with other learning opportunities so that we learn before you do.
In terms of resources for physicians, online for example, you can go to Facebook and LinkedIn. For physicians specifically, there's quite a few groups and you can explore that. There's a lot of physicians wanting to help each other. To mention some, if you're a female physician, there's female physician entrepreneurs. That’s one group. There's physician side gigs, where any physician, for the most part, can join these types of groups. There's Leverage & Growth Summit, a meeting that happens once a year. That's where I started my first mastermind. You can look online.
Daniel: The conference, Leverage & Growth.
Myrdalis: That's it. That's a conference here and there's many different conferences that are happening. I know why cold investors are very popular and they have tons of financial topics.
Daniel: Then they have like total wellness and they seem to cover a lot of topics there.
Myrdalis: Exactly. Then you have coaches, like our coaching group is maxAllure Mastermind. We get in small groups. We coach small groups of 10. We want to coach in a group because you really grow in a group. But we want to coach in small groups because we want everybody to have the opportunity to participate. There are some other groups that are bigger, and some other physicians are really teaching and coaching for bigger.
The other thing is that in our group, you can call it holistic. We don't really call it holistic, but we have six pillars where we help you to really figure out your vision and get you through these steps. Then we take people who already have businesses and were very successful. For example, we have this particular mastermind coach, she's financially free. She handles over $200 million in assets through syndication.
She did this process within less than five years, really closer to three years. She's been on our mastermind as a member and now as a coach. We've talked about branding, for her case so I don't have to teach her about business, but we talk about branding. Then we bring an expert for branding, and we help them so it doesn't matter which stage people are at, they can benefit from the work that we do in terms of either defining what they want for personal change, defining their business that they want, or acquiring momentum for their current business.
Those things you can do is first, identify that you really have a problem. These are like two years. That's like anything. Burnout and being in control is really a mental situation. Then finding and surrounding yourself with people who really are useful, going to groups that can help you and then seriously considering coaching. Unlike other things, medicine was very long time to become a doctor. We can really help physicians within six months to have these plans, and they're ready to go for whatever it is in their personal or business life.
Daniel: Right. Then the sky's the limit. I mean, I completely agree with you. You made me think of a few things as you were going through that. It seems like you were saying, recognizing is always the first step, and then committing to make a change. I do volunteer work sometimes at a homeless shelter in Lexington. I was doing it this morning, actually, that's why I'm wearing a baseball cap and a T-shirt.
Myrdalis: He's wearing a baseball cap backwards, by the way.
Daniel: But anyway, I was doing that this morning. I do outreach, which is like we go out and talk to homeless people and try to help them come up with solutions, basically. There was a guy we were talking to. He's addicted to drugs and went through rehab, had a slip up, and was back on the streets because of it. He was telling his story. I've talked to a bunch of homeless people on the streets but what was unique about this guy this morning is he was like, I'm ready to go.
Because the guy I'm with is like the resource guy. He's like, I'll connect you with this rehab or we can get you here, we just got to plug in. When we find a guy like that we plug him in. So that's what I've learned in it is like 95%, the majority of them are not ready. But this guy was on it and ready. He's just like, I know I need to get help. I'm ready to get up. That's what I was talking to the other guys I was with about it. They're like, yeah, when you get somebody like that, when they recognize it, it's just about plugging them in with the resources, which is just exactly what you were saying.
Myrdalis: That's the main predictor of success. Once you have somebody who wants to do it, you just give him. There was something that they didn't mention that when the student is ready, the teacher will appear. That's what happens. That's exactly what happens.
Daniel: Yeah. Then the second part about it, I thought was interesting. I always say, you're the average of your five best friends. That's like a Jim Rohn quote. I don't know if you've seen that before.
Myrdalis: Yes, you have to lead. Actually that's another tip. Okay, before you tell me the rest. Jim Rohn. The ultimate Jim Rohn library. So read that edition. It's not a reading but an audio power review.
Daniel: Oh, yeah. Jim Rohn everything is fantastic.
Myrdalis: But the ultimate Jim Rohn library. If you do that, and you also do like Rich Dad Poor Dad, those two things and you're like, fired. That's another thing you can do right away today. Go and buy those.
Daniel: And put it in your car. You can listen to it in your car too if you have a CD player. Do people still have CD players? I have a CD player in my car. You can listen to it on your mp3 or whatever in your car. Jim Rohn is great. I listened to his stuff for like a year straight in my car as I was driving.
Myrdalis: My whole family—16 years old, know Jim Rohn.
Daniel: Really?
Myrdalis: Yeah. The whole family knows Jim Rohn and Rich Dad Poor Dad.
Daniel: Yes. Those are two great resources.
Myrdalis: The books that we read and that we listen to. But yeah, those two are like the Bibles.
Daniel: That's like getting your mind right. The philosophy is like getting your head in the right spot.
Myrdalis: Philosophy.
Daniel: Yeah, he's an old guy, kind of talks a little unique, but it's fantastic content, I promise. But yeah, you're the average of your five best friends. This guy is about to go to rehab again. The guy that the connector that I was with, he's like, we got to find the right one. It's all about getting him into the right rehab place because we want him around the people that are going to lead them in the right direction. You can even be proactive about it too. When I realized I could, I mean, it's not like you want to fire friends, but you can choose your friends.
Myrdalis: You can love your friends, you can love your family, you can love them. Don't stop loving them. But hang out with people with similar interests, like-minded people, and then you have the time for your family and friends. Then you have the time where you're going to be growing and getting out of this burnout experience. That's going to be where you're going to be spending most of your time if you really want to heal and if you really want to take control of your life again.
Daniel: Yeah, so if your buddies you sit around after work, and they're like, oh, work sucks, I'm doing nothing about it, stop hanging out with them. Go. I mean, you could still love them, but you got to the time that's terrible for your mentality. It just rubs off onto you, even if you don't really realize it. I love those action items. They're very good.
So where can people find you if they're interested in learning more about your coaching and your services? You got a great podcast too, you get all kinds of stuff.
Myrdalis: Thank you. I love my podcast, I have to say. I like it. It’s called Design Your Physician Life. So you can find us on any platform, Apple, Google, Spotify. It comes through Buzzsprout. For those who know Buzzsprout, it's called Design Your Physician Life. And there, you will learn specific tips and you can work right away and try to define what you really want to do. We have alternatives.
We have successful physicians for the most part who have done this before. They have nothing different than you have as a physician. We just decided to take action. We decided to learn about ourselves and just decided to go for it so that we can either continue to be servicing our patients or decide on a different pathway as physicians.
The other one is the main one, maxAllure. It’s maxallure.com. That's our mastermind, our physician entrepreneur mastermind. Actually, our next cohort is starting at the end of August. We only take 10 people, so we’re please recommend that if you want it, we do 10 people per cohort. It's a six month commitment once a week. We get to really meet each other. We became friends to the point that just last week I was at one of them's wedding and we met online.
Daniel: You're involved in it with the mastermind.
Myrdalis: Absolutely. I learned the same with everybody. I'm the facilitator of the mastermind. Different from other masterminds is one it’s for physicians. Number two is the small groups and we have one on one coaching with different coaches that you're going to go through one on one with. You get coached privately by me, by a project management expert, you also get coached in front of the group by an expert who has done what you want to do. Once we identify what you want, or something that could help you.
We get you a coach that you either want to get, if I can get them I'll get them from you for you, or I know who's going to help you and we bring them and everybody goes that way. At the end, you leave with a blueprint—a specific blueprint of what your next three months can look like after you leave us.
By then, you've learned so many opportunities, alternatives that's really mind opening. People are transforming their lives in control. They're not lost. They tell you like I was so lost here and now that I'm doing so much better. So maxallure.com. Come and join one of our webinars that are coming now later in July. Then you can also see us in 2022. Then you can also go through our signup. We start at the end of August 2022.
Daniel: Yeah, I'm a big fan of masterminds. The setup of study groups or working with your peers, especially mastermind is great because when you have a facilitator, if you can pair it up with what you're looking to do, you can leverage other people and you know their success and learn from them. A lot of times we try to do things alone. That's not a great way to go. We can only get so far alone.
We have to ultimately work with other people. I think that's where it's at, especially intentionally selecting these other people that are right in the wheelhouse. Then there's the accountability of working through that process. For people that are really wanting to move that direction, the mastermind setup is fantastic.
Myrdalis: I’ll make you accountable. Every week, we report in front of each other so we have accountability. Every week, we have what we call the minute of accountability. You have a minute to tell us what you've done—exactly what you've done for your business in the last week. Then we have the support of the community. We have the support of all these coaches, and then the coaching itself that happens. You have a curriculum that we've identified based on our previous masterminds, things that people really ask regularly. We have workshops and challenges and our Facebook groups and things that you really have to grow.
Daniel: Yeah. I love it. Awesome. Well, it's been fun and I appreciate you coming on today.
Myrdalis: Well, thank you very much for having us. Thanks for all you do for us physicians. Thank you for having this podcast.
Daniel: Yeah, definitely.
Myrdalis: Have a great day.
Daniel: As always, thank you so much for joining us today. If you found this valuable, please give us a review on iTunes and share with a friend. Also check out our website at financeforphysicians.co for all sorts of additional content. See you next time.
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