This is the question by Dr Nhlapo. The answer if is for a philosophical person NOT Dr Nhlapo...
One should make it by 50 but is not always the case. Thats why most will never retire. The trick is to create passive income
REASONS WHY YOU DONT MAKE IT TILL 50
.Practice poorly resourced ie is only 1 chair and Dr You...plus Friddah who is front desk ,assistant, does payments and accounts and cleans the floor. There is no way that you will move faster to the next level
Drs are product centric
The reasons why Drs are bad entrepreneurs one main one is Drs are product centric. They are best at their craft because they are trained. Not many possess more than what they have trained for. It is very rare to find a Dr and an entrepreuneur in one person that is congenitally missing so to say. Most Drs think they are drs qualified enough to understand business but it is not always the case. It takes just as much work at being a dr to be an entrepreuneur. You have keep on learning. You definately need a mentor and accept that yes you are dr but you are not an entrepreneur. Employ a consultant to help you negotiate the terrains; rugged terrains of being an entrepreuneur whilst you focuss on what you know best....treating patients. DNI Business consults practices who need to grow and prosper. We have helped few practices already about 10 practices so far and counting. We charge 3500.00 per visit and if we dont produce we will gladly refund your payment.
Type of customers
.Many people low profitability ...zama zama
.Few people high profitability ...
What type is your practice?
Are you marketing to
Many people low profit
Few people high profit
Wealth and Business growth are cumulative so it takes either a long time if you have 30 years or more to work...start early or a lot of effort ie effort meaning you double up if you want to make it by 50 Dr Nhlapo
Market Market Market
You never stop marketing referals arent great for DNI but I keep bombarding you dont I? DNI Business ....drs are skeptical but have I stopped marketing? No
Be Bold Be Seen Be Heard
You have 2 Brands to build...what are yours?
Personal Brand ...equally important Dr FS brand is almost a Rock star
Business Brand ...remember last year competition about DNI? is working