739: Solve, Systematize, Scale: Build an Online Business, Monetize Your Existing Skills, and Master Time Management with Dr. Mike Woo-Ming

Dr. Mike Woo-Ming is a physician strategist, online health influencer, and medical practice owner. He has built multiple successful businesses, including an information product business during his medical residency and his current medical clinic and med spa. Today, Dr. Mike talks about his entrepreneurial career, sharing insights on balancing multiple income streams, building a team, and overcoming the common mistakes he sees doctors make when starting their own businesses. He also talks about his upcoming book, "The Positioned Physician," and his chapter in the book "Level Up."

In this episode of Marketer of the Day, Dr. Woo-Ming shares strategies for managing multiple businesses, scaling operations, and building passive income streams while maintaining productivity and focus. He emphasizes the importance of assembling talented teams, delegating tasks, and knowing the financial metrics of each venture. He advises entrepreneurs—especially physicians—against inaction and micromanagement, advocating for experimentation, outsourcing expertise, and taking calculated risks. Key resources mentioned include his consulting and courses at BootstrapMD.com, his contribution to the book Level Up, and his forthcoming book The Physician Physician, which provide deeper insights into entrepreneurship for healthcare professionals and beyond.

Quotes

“I realized that I’m unemployable, and that led me to figure out how to take my knowledge and get paid for it on my own time without substituting time for money.”

“Most doctors say they don’t have time, but if you really want it, you’ll make the time. Motivation is everything.”

“The biggest mistakes I see are inaction and trying to do everything yourself. Put your ego aside and let experts handle what they do best.”

“Find great talent, empower them to be independent, and focus your control on the big picture and the numbers—this is how you scale and grow.”

Resources

• BootStrapMD: The future belongs to bold thinkers. Will you be the physician who breaks boundaries, builds businesses, and achieves autonomy?
• Connect with Mike Woo-Ming MD MPH on LinkedIn
• Get a copy of The Positioned Physician - Updated Edition: Earn More, Work Smart, and Love Medicine Again by Michael Woo-Ming MD MPH on Amazon

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Filed in: Archive 3: 2018-2020 • Interview • Podcast