Dangers of physician entrepreneurship My initial motivation for experimenting with entrepreneurship was desperation. I NEEDED to escape medicine. Over the last 5 years, my relationship with my business has morphed into something much healthier, but this is not always the case. Here’s what physicians need to be aware of before launching a business. 1. Hustle transfer. We are so used to overworking and functioning on little rest and chronic stress. We take these habits into our business and burn out again. 2. Hopelessness. We start a business with the intention of finding purpose and fulfillment but are met with normal entrepreneurial challenges and don’t have the experience to cope or proper expectations for success. 3. Self doubt. Entrepreneurship is hard and success is built on failure after failure. This is totally different from medicine where we fear failure and are ashamed of our mistakes. If we are not able to shift our mindset than it can result in crippling self doubt. Yatin Patil, MD, FACP is a physician entrepreneur who is a wonderful example of success in medicine and business. His company, Doctors for Health Innovation (www.D4HI.com), provides physicians with the opportunity to invest in and consult with healthcare tech startups. He is using his innate abilities and partnering them with his clinical expertise to fulfill a desire to help fellow physicians become smart investors.
Dan Edwards
6mo
It's crucial for physicians to navigate the world of entrepreneurship mindfully and be prepared for the challenges ahead. Good insights!
Kristin Yates DO - thanks for the mention and well said! For starting any business, it’s important to have a strong “why” and equally important to have grit and the ability to learn from failures. As you correctly pointed out, entrepreneurship is hard - having the above things helps the team face the challenges head on as they arise!
He's also just a really good dude. 😁
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6moEntrepreneurship is indeed a challenging journey, especially when transitioning from the field of medicine. Thanks for sharing your insights! 👨⚕️🚀