Ask yourself why all the ultra-successful physician entrepreneurs jump from one event to another. Trust me, it’s not because they simply love socializing so much. It’s because they know how much value they will get from them.
I once attended an event that brought me $740K, so believe me when I say that one of the most powerful and transformative things you can do in your business is attend any relevant events.
In today’s highly transformative episode of EntreMD, I will share 3 ways you can make an ROI from events that will completely change your business game.
EntreMD Business School Grow - This is our year-long program with a track record of producing physician entrepreneurs who are building 6, 7 and 7+ figure businesses. They do this while building their dream lives!
EntreMD Business School Scale - This is our high-level mastermind for physicians who have crossed the seven figure milestone and want to build their businesses to be well oiled machines that can run without them.
To get on a call with my team to determine your next best step, go here ...
Ask yourself why all the ultra-successful physician entrepreneurs jump from one event to another. Trust me, it’s not because they simply love socializing so much. It’s because they know how much value they will get from them.
I once attended an event that brought me $740K, so believe me when I say that one of the most powerful and transformative things you can do in your business is attend any relevant events.
In today’s highly transformative episode of EntreMD, I will share 3 ways you can make an ROI from events that will completely change your business game.
EntreMD Business School Grow - This is our year-long program with a track record of producing physician entrepreneurs who are building 6, 7 and 7+ figure businesses. They do this while building their dream lives!
EntreMD Business School Scale - This is our high-level mastermind for physicians who have crossed the seven figure milestone and want to build their businesses to be well oiled machines that can run without them.
To get on a call with my team to determine your next best step, go here ...
Speaker 1:
There are so many events I've been to that the magic happened, not in the room, not listening to the content, not listening to the examples, but in the conversation at lunch, in the conversation in the bathroom, because it doesn't take much. You may find out that there's this thing that you're paying for and you're using, and it's costing you 500 bucks a month that one simple automation will take care of forever. You may be having a hard time staffing your private practice and somebody lets you know how they're using VAs, and this is not a thing anymore. You may have a conversation with somebody who knows the person that you've been trying to connect with for the last four years. You may have a conversation with somebody who is down the street that they have access to hundreds of your clients that will happily refer to you. There is so much magic in networking. Hi docs, welcome to the EntreMD podcast, where it's all about helping amazing physicians just like you embrace entrepreneurship so you can have the freedom to live life and practice medicine on your terms. I'm your host, dr Imna. One of the most powerful and most transformative things you can do in your business ever is go to an event that is relevant to your business I want to share with you a story of how I created $740,000 just because I went to one event from one event. Okay, all right. So this is going to be an absolutely phenomenal episode. I think it will probably be one of the most transformative ones that you've ever listened to and we have some pretty good episodes and so I want you to lean in, I want you to pay attention to this. This is not just a random episode filled with fluff or anything like this. This is going to be a game changer for you. Okay, now, one of the things I've noticed you've heard me talk a lot about how I study ultra successful people, and one of the things I've noticed hanging out with them is that they are very big on going to places and being with people and being in the right room, so much so that they could find out about an event a week before the event, two days before the event, a day before the event, book a ticket and go there, and I always wondered about it. It's something that I observed, it's something that I found myself doing because of the power of being in a room Now, at the time of this recording.
Speaker 1:
Entremd Live is coming up on June, the 29th of 2024. So I'm actually going to use that as a case study and then I'm going to unpack this. But after you listen to this, the way you show up at events will change completely, and the ROI the return on investment you'll get from events, will blow your mind. Okay, so I'm going to give you numbers. I'm going to be writing as we do this. I'm going to share all of this because everything is about to change for you. Okay, all right, so let me use EntreMD Live as a case study, okay, and we're going to run some numbers, we're going to play around with some numbers. I'll walk you through how I think about this. Okay, so let's say, you find out about EntreMD Live and it's a week before it.
Speaker 1:
What I hear a lot of people say is oh, you know, I didn't plan for it, it's a week away, forget it, type of stuff. And of course, we should plan. I'm not saying that we shouldn't plan. In fact, we should really, really plan, but I just want to show you how to think about this, right? Okay, so let's say you know the ticket to the event. You know if you're coming to Atlanta, it's a thousand dollars, which is which it is not. But let's say that it's $1,000. And okay, so you're like, wow, the cost of it, right, and that's not the only cost. So let's say you're like, shoot, I'm 45 years old, I don't fly economy anymore. I'm nice to my body, so I fly business and from where I live it's going to cost me $1,000 to get the business class ticket to go there. Okay, so we're at $2,000. And let's say you say you say the hotel I choose to stay at is 500 bucks a night when you include taxes and all of that, and I'm going to stay for two nights. I'm going to be there the night before, the night after so I can stay back and network and all of that stuff, and that's another $1,000.
Speaker 1:
Now I'm using the zeros because it's easy to do the math. And let's say you think about the opportunity cost, right, two nights away from your family. Of course you can't put a number to that, there is no number, right. But let's say, like we just put $5,000, like, for the sake of you know, making the cost, if you will quote, unquote, of the events, like you know, like I have the numbers together. So if you look at that, the actual ticket to the event for $1,000 and the flight for 1,000 and the hotel for 1,000 and the opportunity cost for 5,000, that's $8,000. And people will say, oh my goodness, that's expensive. There is a cost.
Speaker 1:
Now, the ultra successful don't look at cost, they look at value. Right, it's not about what would it cost me to get there, it's about what is the value I would get out of it. Okay, so there's some employee models where they'll talk about four times profitability, four times your payroll. So what that means is, if you hire somebody or paying the person $100,000, and that person is creating $400,000 in value, that is an amazing arrangement. It's a win-win situation. You would happily pay them $100,000 all day, every day and twice on Sunday, because they're able to generate four times their salary.
Speaker 1:
And so if we apply that to this model, that means it's not about the eight grand that it quote unquote costs me to go to the event. It's can I create $32,000 in value, right, which is four times 8,000. Can I produce that? Will I get that because I went to the event? If the answer is yes, what do you do? You go to the events all day, every day, and twice on Sunday, and it's not a cost. It no longer is a cost, it becomes an investment. I don't go to events that cost me. I go to events that are investments.
Speaker 1:
Okay, and this is in the context of business. You know, business events. Okay, now, 4x is not the number I use, 10x is, you know, it's my floor. And there are events that I've done, you know, like a thousand X, right, but 10X is my floor. So what would that be? $80,000, right, like, if this event can create $80,000 in value, then I pay the 8,000. I paid so happily, I fly business class, so happily, right To go there because of what I know will happen.
Speaker 1:
Okay. So now it's like do you just then say oh, yeah, you know, like I make $80,000 in value. I'm sure that's what happened at the end of the event? No, no, no. Like you want to be able to do the math and I'll tell you what happened. I'm going to give you a bunch of stories here, but okay, so for me, when I look at an event, I'm like okay, can I create 10X? And so, since we're using EntreeMD Live here and let's say 10X and we're saying 80 grand, okay, so let's use 80 grand, can I create 80 grand out of this? Okay, now, of course, we live in a country where I have to give you the disclaimer of I'm not promising this amount or anything. I am merely telling you how I think about it, how I approach it, how I do my math. Okay, all right. So the first place I'm going to show you three places where you can get value from, and any of these can give you 4X, 10x, 2x, 1,000x. It all depends on you know, okay. The first place is the content. Okay, the content that is going to be delivered. There is an idea, there is a concept, there is an audit. There is a concept, there is an audit. Any of these things that can go on to create unbelievable value that may hit the 80 grand, that may surpass the 80 grand. So let me give you a few examples.
Speaker 1:
Now, again, we're using On-Term Day Live as a case study. So I want you to imagine, right, one of our sessions is going to be on the things that are working for physicians in 2024. We can say, oh, we're stuck. There's burnout, there's loss of autonomy, the you know private practice. You know what. The reimbursements are dwindling. You know DPC I'm having a hard time, you know, attracting all the clients that I want, or I have all the clients that I want, or I have all the patients that I want, but, oh my goodness, I don't have a life because they're contacting me all the time and I'm super busy.
Speaker 1:
It may be, as a coach, and you've bought into this narrative that you cannot replace your physician salary with the coaching revenue and all of those things. There's all these narratives but there are things that are working right. There are things that are working in that you can have one idea, one idea that puts you in a position to take your business from where it's been. Maybe it's struggling, maybe it's doing great, maybe it's doing so great that you just don't have a life anymore. You get your life back. If you get your life back, is that worth 80,000, right, okay.
Speaker 1:
So we're going to look at things that are working. We're going to look at business models. There are so many businesses that I've seen clients that I worked with and just looking at their business, I'm like there is no way to make this math work, like this business cannot work. You either have to change your volume, change your price, change your this, work around the mindset, drama around that and get it done, but the way it is it is not going to work. Just having your business model fixed can take you from a business that is not generating money or is generating revenue, but the profit margins are so thin that it doesn't even matter to a business that is now, you know, like, has profits, has cashflow that will easily, easily, be more than 80,000. Okay, we're going to look at how to 10X your visibility, and the thing about visibility is nothing works if visibility is not working. You don't have the clients you want, you don't have the 18 members you want, you don't have the referral sources you want, and there are so many opportunities that would really really change everything for your business and for your finances in general that you will not have access to because you don't have visibility. Right, we're going to look at the attraction system. Like, okay, now you're visible, lots of likes, lots of follows, big email lists, but nobody's saying yes, you don't have the clients that match up. Like, how do we create a system so you can have that and these are not? I mean like these are not things that are that don't work.
Speaker 1:
For instance, we have a doc. He's in the Entremly Business School now and when he came into the school, his narrative was like listen, this is my last ditch effort. I have been working on this business for the last three years and if this does not work this time, then I'm going to have to shut it down. He has not even been in the school for up to 120 days and the conversation around shutting his business is no longer a conversation. He's having his biggest month, biggest quarter, biggest. All of that. How come? He learned an attraction system? Now, if you ask him if he made $80,000 from that one decision, he made a ton more than that. Right, because not only has he built the system and it's working, but he's built the system and it's going to continue to work. It's the gift that keeps giving.
Speaker 1:
Okay, we're going to talk about the dream life. A lot of times, people treat business like they treat medical school and residency Like I'm going to put off my life until I am done with this and there's no being done with business. And, frankly, we're at an age and a time and we've given up so much that it doesn't make sense to put our dream life on hold anymore. So the question is how can I build my dream life while I am building my dream business? And that is a thing that in Entremdi, we talk about it a lot In the Entremdi Business School. We just live there because you can build both concurrently.
Speaker 1:
So that's the first thing, is the content, is the content? Is the content? Okay, so that's the first one. The second one, and it's one of my favorite, is the examples. Now, people go to events and they just do the content and they're done. It is a third of what you can get out of an event. It is a third. If you miss these other things, you're leaving so much money, so much transformation, so much peace and quiet on the table. Okay, so it's the examples.
Speaker 1:
Now, when it comes to the examples, it is the examples of the people who are in the room. Okay, so you may be running a business that is doing a million, but in the room there'll be people who are running multiple businesses doing millions. There'll be people in the room running $8 million businesses, $5 million businesses and things like that. You may not have a team at all. They have so much drama around hiring and all of those things, and there may be people there who are leading a team of 15, leading a team of 20, leading an A team that is literally running their business and they're not running it right, and so you get to see these real life examples on what it's like. It's like the concepts you learn in the content, but you have people who are living it out. It's almost like learning by storytelling. It is so powerful to see an example in the room.
Speaker 1:
Now I told you that I was gonna tell you about how I made $740,000 at an event and I'll tell you what that was. I made $740,000 at an event and I'll tell you what that was. So in 2020, as a business, entremes degenerated $260,000 in revenue and in 2021, I had no grand plan to make that different. My prices were the same, my marketing strategy was the same. It was all the same. And, frankly, you know, I was already running a very successful private practice. You, you know like I was like. I was like, yeah, you know, we'll do the business and stuff like that.
Speaker 1:
I think one of the things I had going for me is I did not want to be a ceiling for anybody in the physician community. So I was like, okay, I'll grow it. I grow it almost like an experiment, so people can see what is possible. So I was driving. I was like, yeah, it would be better if we make more and all of these things. And I saw I have this nudge and I'm like, what if you could make it a million dollars? I'm like, how are you going to make it? Who goes from $260,000 to a million dollars? But anyway, come 2021, january, february, march I'm totally on track to do what I did last year, or a little more, I think. Actually, I was on track to do for that first quarter. We had done about 120,000. So I was on track to do near to half a million, right, which is not a million, but I mean like it's almost twice. You know what we had done the year before and I was good with that. But I was like, yeah, but it would be nice to make a million, how would you do that? Right, but it was a thought I, you know, I had, yeah, kind of had to quite worked it out and things like this.
Speaker 1:
And then I go to this event. It wasn't the content. This is why I'm taking the time to explain this. It wasn't the content. So there was content, I was listening, I was fascinated, I was learning new things. It was amazing All of that.
Speaker 1:
Now, somewhere, a conversation and somebody came up to share and she was talking about her business and she said someone had approached me to buy my business and it was going to be a nine figure acquisition. Okay, so I'm counting one, two, three, four, five, six, seven, eight, nine. I mean like we're talking a minimum of a hundred million. I'm like that's amazing. So she says that's what the offer was. And I turned down the offer. And I was like well, this is getting fascinating. And she said I turned down the offer because I think in a few years we'll be able to get there ourselves generating 9 million or you know, and stuff like that. And I'm like, okay. And then she made a statement, a statement I will never forget.
Speaker 1:
This was March of 2021. And she said at this point in our business, we're doing an easy million a month. That exploded in me. Okay, I'm like so here I am thinking I might, could maybe take up the thing and do a million in a year. And somebody is just like yeah, you know, like at this point we're doing an easy million a month. I'm like an easy million, we're doing an easy million a month, I'm like an easy million a month, an easy million a month, an easy million a month. If she could do an easy million a month, then it is possible for me to do an easy million a year, like in 12 times the time.
Speaker 1:
And I thought about it and it was a whole process as far as me accepting that. But the starting point was that one sentence we're doing an easy million a month. And so I sat with that thought, I imagined it, I leaned into it and before I left that event I went straight to my computer, changed the pricing on my products, changed the offerings, the process, what we offer, the results we can get people, changed all of that. And that year we ended at a million dollars. And so when you think about it, that's why I said from that event I made $740,000. Just from that one line. Do you see what I'm saying? And if I think about it, maybe I paid, maybe the investment to be at that event probably was somewhere in the neighborhood of five or $8,000, but, oh my goodness, like measure the ROI, right, okay. So the story.
Speaker 1:
So you pay attention to the people in the room. You pay attention to the stories that are being shared because their results there, those results, are designed to inspire. Now, if it's not something you want to do, you don't have to do it. It's a buffet you can pick, but this was something I wanted to do. So you pay attention to the stories. You pay attention to the processes, right, that they tell you about. You pay attention to all of that because there's so many things that have been struggles that one person's story will fix. So it's the example of the people who are in the room, the attendees, the other speakers, all of those kinds of things, all those stories that are shared. It's also the example of the people who are putting on the event.
Speaker 1:
Again, people miss this. Right, when I go for an event, I'm paying attention. How are they engaging the people? How are they wowing the attention? How are they engaging the people? How are they wowing the people? How are they helping the people get results? Okay, people are having aha moments and all of that. What is triggering those? Okay, I was at this event last year. I'm here this year. How did they upgrade this event, right? How did they get people to register? You pay attention to it. How are they growing? How is this company growing? How is the leader showing up All of these things?
Speaker 1:
Because, listen, there is school. That is school. Where you go, you sit down, a professor tells you all the things and you do that. But there is life school, there's business school, which you don't just learn from whatever is happening from the stage. You learn from all of it. You learn from what they said, you learn from what they didn't say, you learn from what you observe, you learn from conversations other people are having. It's all learning. It's all learning. So, learning from the example of the organizers, especially if you are a speaker. Oh my goodness, listen to what they said, but listen to how they said it. Watch how they showed up on stage. How did they start their talk? How did they end it? Where did they get the people? Where did they lose the people? All of that, if you host events, you're paying attention, like, how are they doing it?
Speaker 1:
I have learned so much and I you know like I say this very humbly, but I've done this for many years I hold some of the most transformational events Like cause. I treat my events like a processing unit. My intention is you come in one way. You go through the events. You leave a completely different way with your limiting beliefs handled, like, if you must have limiting beliefs, have new ones, but you know that new ones at the new level that you're at, but you know limiting beliefs are gone. You have the strategies you need. You have the connections you need. The things that you believe are possible for yourself are completely different. Hangups are removed, obstacles are removed.
Speaker 1:
Like I host transformational events and I pay attention to every event I go to, where is the transformation happening? Where is the transformation happening? What can I add to the skill set that I already have? There's so much you can learn just by observing. So when I see people who are like I host events, I'm a speaker, all this stuff, I'm like do that, get yourself over here, right, okay. So you see how powerful an example. So when I talk about this whole $740,000, this was from an event, but not the content, but from an example Right, okay.
Speaker 1:
And then the third thing is networking. Now, I know that a lot of the people who listen to me maybe you included a lot of them are introverts and it's almost like networking is this thing for extroverts. The truth of the matter is you've heard me say this many times networking is not a personality type, it is a skill. There is a skill of networking and I would like to let you know that, whether you're an introvert or extrovert, you need to acquire this skill. There is a skill of networking and I would like to let you know that, whether you're an introvert or extrovert, you need to acquire this skill. Okay, it's a skill, and so you can have somebody who is very extroverted, who is out there, but it's not effective at networking because, again, it's not a personality type. And if you're an introvert, don't remove yourself from this conversation. You can network. Okay, after that you're going to need to go be by yourself for a little bit to recharge, but you can absolutely network.
Speaker 1:
So in those conversations there are so many events I've been to that the magic happened, not in the room, not listening to the content, not listening to the examples, but in the conversation at lunch. In the conversation I kid you, not in the bathroom, right, and it is because it doesn't take much you may find out that there's this thing that you're paying for and you're using and it's costing you 500 bucks a month that one simple automation will take care of forever. You may be having a hard time staffing your private practice and somebody lets you know how they're using VAs, and this is not a thing anymore. You may have a conversation with somebody who knows the person that you've been trying to connect with for the last four years. You may have a conversation with somebody who is down the street, who is easily a dream 100 for you, meaning that they have access to hundreds of your clients that will happily refer to you.
Speaker 1:
There is so much magic in networking, so much so when I go for an event, okay, I don't see going to an event as a cost. I see it as an investment, because I know how to create an ROI. I know how to create a return on investment, and that is what I'm trying to show you here. Okay, so how to create a return on investment, and that is what I'm trying to show you here. Okay, so can you create a return on investment? Yes, where would you get it from? Number one the content. You pay attention, knowing. I'm just looking for a few good ideas. These are the obstacles I'm having. I'm just looking for some information to get rid of these obstacles. This is a limiting belief. I just need some information to get rid of this.
Speaker 1:
You come with that level of curiosity and intentionality. It could be the content. That may be where you find it. The other place where you can generate an ROI is from the stories, from the examples, examples from people in the room, other speakers that come up, people who share how entrepreneurship has gone for them, and all of those things, and the example of the person hosting it. There are some people who came for the first EntreeMD Live in 2019, so five years ago and they're coming five years later. It's going to be a whole education in how much your life can change in five years if you just consistently put one foot in front of another. That's what it's going to be. It's going to be so wild for them, right, when they come into the room, and so you get to study that, right.
Speaker 1:
The third place you generate an ROI from which is so powerful is networking. It's networking. You get in the room, you sit closer to the front, you make eye contact with people, you pull out your hand and give people warm handshakes. I'm like this is who I am and all of that stuff and ask them about themselves. You will be surprised. There is so much magic. This is so serious that in the Entrepreneurial Business School I teach this all the time and I'm like take full advantage of what you have.
Speaker 1:
You are in a room with a hundred other physician, entrepreneurs, who are committed to their goals, who are crushing it, who are handling challenges, and all of that. They have access to the people you need. They have access to the expertise you need. They have access to the referral sources you need. I mean, it's so crazy what we do when we have our live calls and I'm teaching and all of that is so powerful, but, oh my goodness, the people in the room. No one person can create the magic of a room, and what makes it magic is the people in the room, right? So when you go for an event, don't hide, don't not talk to people. Oh my goodness, because humans are like. They're like little treasure bags. They have so much gold, so many gems on the inside of them, but if you don't engage, you'll never know, because everybody just looks human. So now you know how to create a return on investment.
Speaker 1:
Now, if you're listening to this, right after it was recorded, entremdi Live is coming up June the 29th. It's a Saturday, so full day, 10 am to 4 pm. It is in Atlanta and the beautiful city of Atlanta. It's in Atlanta, and maybe you've been on the fence about it, maybe you've even registered to attend virtually because you thought you couldn't come because of the cost. I want you to look again at it as an investment. If you've listened to the podcast, you know what we deliver. You can easily create an ROI on it from the podcast. So I want you to imagine a six-hour immersive experience with you in the room with other rockstar physician entrepreneurs. Even many of the doctors from the EntreMet Business School are going to be there. I want you to imagine what that will be like. It is so worth whatever it will cost you to get a quote, unquote last minute ticket. It is so worth it for whatever you will spend to be there.
Speaker 1:
I want to challenge you to be in the room. I want to challenge you to show up and show up to get an ROI. I want to challenge you to show up and show up to get an ROI. So where, like me, maybe I'll be interviewing you six months from now and you'll say Dr Una, let me tell you how I made a hundred grand, 80 grand, 1 million from EntreeMD Live, right, entreemd Live 2024.
Speaker 1:
So, entreemdcom forward, slash, live, go get your ticket. Go plan to be in the room Now. If you're like man, you know what's happening. There is no physical way I can be there, be sure to get the virtual tickets and show up the same way. But if you can be in that room, I want to challenge you to be in that room and when you do that, I want you to come ready to get an ROI. And for every other event you attend virtual or in-person from now, I want you to show up like a savvy entrepreneur. You show up and you get everything you came to get. You leave that place and you will never, ever call an event an expense again, because it's an investment and you know how to invest. Okay, so go get your tickets on trendycom forward slash live. If you can be in the room, in the physical room, be in the room. If you're going to attend virtually, attend virtually, but show up and get your ROI.
Speaker 1:
I want to hear your story after the event of how you used it to change your life. Okay, now let me know. You can send me a PM, a DM, let me know. This was so impactful. Dr Una, I'm never attending events the same way because this is such a game changer for me. I have become this person that I know how to transform my life. It's like a technology that I know how to use, and I want that to be your experience as well. So let me know like oh my goodness, dr Una, this was good and I'm going to apply it and I'll see you in Atlanta. Okay, all right, cannot wait to see you in Atlanta and I will see you on the next episode of the Uncrendy Podcast.