Have you tried to move to an industry role or set up a business but been set back by the lack of experience, knowledge or the right network? We have launched the Commercial Readiness Course for Doctors so you can gain an added advantage over other applicants and stand out as an experienced doctor who's the right fit for the role you're pursuing.
The challenges and rewards of building a business as a doctor and parent form the topic of this episode with our guest Dr. Jo Watkins, a business coach and mentor for doctors, with Dr. Bubbers-Jones sharing her own experiences.
They discuss the challenges yet endless opportunities entrepreneurship brings, and also share their insights and experience on how to set up a business, what’s really needed and what are the key factors for success which include setting boundaries, practising self-care, and managing time effectively.
The episode encourages doctors who are parents to consider entrepreneurship for a flexible and autonomous lifestyle, offering valuable insights and practical advice for aspiring entrepreneurs and those curious about the business world.
Timestamp
- [00:00:01] Being a mother and running a business.
- [00:06:15] Explored various jobs, settled on acupuncture business.
- [00:07:18] Becoming a partner led to entrepreneurial self-discovery.
- [00:12:49] Entrepreneurship is challenging yet fulfilling with endless opportunities.
- [00:15:59] Struggling with boundaries, self care, and time.
- [00:20:01] Multi-tasking and delegation.
- [00:23:30] Years of unpaid learning, facing challenges. Marketing is required for running your own business.
- [00:24:37] Social media, newsletters, and time management are challenges doctors face in business
- [00:29:18] Characteristics of successful entrepreneurs.
- [00:32:11] Challenges for newcomers in business and regulation.
- [00:34:23] Clarify the idea, identify the target audience.
- [00:39:28] Advice to doctors who are parents starting or running a business.
Quotes
The Rise of Medical Entrepreneurship: "It just feels like as medics, maybe there's been a sort of rebirth of creativity or a rebirth of opportunity that has led to us all thinking, do you know what? Actually, I can do something alongside my clinical work or there is an opportunity here for me to do something different."
— Jo Watkins [00:03:56 → 00:04:14]
The Challenges of Time Management: "The biggest challenge that I have had and that I continue to have is boundaries and self care and managing my time, because I find that I have to grab pockets of time to run my business."
— Jo Watkins [00:15:59 → 00:16:16]
The Challenges of Running Your Own Business: "There's going to be years and years of your life where you're learning and not being paid and not earning any money."
— Jo Watkins [00:23:30 → 00:23:36]
The Importance of Taking Action and Developing Resilience: "So those people, I think, who are prepared to listen, learn and take action even though they might not feel ready, those are the people that I think generally do very well. I think you've got to have quite tough skin...you have to be able to brush some of that off and be able to dust yourself off and get on with it."
— Jo Watkins [00:29:21 → 00:29:37]
Finding Your Niche: "I think the other problem that we often have as doctors is that we know that we can help lots of different people, and we really struggle with that whole niching down and finding one problem to solve because there are so many that we could."
— Jo Watkins [00:34:32 → 00:34:45]
Do You Need Further Support?
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