Cracking the Code: How This Doctor Created 12 Streams of Online Income

Transcript YouTube English auto-captions. Hey guys Dr Mike Wang welcome to another edition of boo trp MD this is a podcast for physician health care entrepreneurs we have a friendly another friendly face if you're watching on the video or Len her voice listening to the podcast is Dr Anne trong she is a a private practice owner entrepreneur extraordinaire uh and we are excited to let you know about a new challenge that we have coming up uh in June called the online business Challenge and Our previous challenges on Medical Practice profits were so successful we wanted to focus on on online business and you've thought that you know maybe it's too technical to start one or maybe you're you're too busy as a busy clinician to get started an online business um I think we're going to dispel some myths and we talk about kind of our journey starting online businesses and why we think now 2024 is the best time to get to start your online business I'm super excited to discuss this topic tonight an how are you doing I'm fine thank you for having me here again mike always uh good thing to be here with you and talk helping doctors uh throughout this 2024 which I think is the best year for doctors thank you for having me here it's good to hear that positive because sometimes in in this in this market and Industry you know good news is is few and far between so I'm excited to discuss it so let's talk about online business a business on the internet you know I'm sure we've seen things and ads and you know uh you know about starting your own online business let's talk about kind of your journey and how you got started because I knew it was relatively uh recent that you got started starting your online business so Why don't you tell the listeners about you know how you got started with this right very recently uh honestly there weren for covid in 2020 I would still be uh I won't even know what the word online business mean honestly um because prior to 2020 I was your traditional Private Practice physician I had a cash based practice but I was seeing patient in the office trading time uh well seeing one to one patient I was doing well My our practice was over seven figures and we were uh taking only cash patient and we were doing regenerative medicine for sexual health and then we all know what happened uh in 2020 right everything was shut down and then I was like oh my God I can't see patient in the office again how am I going to pay my bills how am I going to support uh my staff uh and I had to dip into my own personal savings to cover all my expenses that's when I started learning about online and what what does it mean to start doing online digital marketing I had to actually Google that phrase I didn't know what it mean uh and it was essentially how to attract uh uh your customer online so that way they can come to your office to see you and so then my journey started when I had a lot of time right We weren't as busy as we used to be and we had a lot of time at home so I started taking courses I started uh signing up with coaches uh my my mentality just having been in private practice and being my own business for the last 23 years is that if you want to learn something quickly if you want to be successful quickly learn from the people that have done it so That way they can show you the RO that was kind of like my mentality was that I'm gonna uh uh pay for a coaching uh program not like a like a course I want to pay for somebody that can take um the range with me so I sign up for Coach it and I know you have a coach uh as well uh too that uh really show me how um digital marketing work and That's how I started my journey was that you know we weren't getting patient in the office I had to learn how to attract somebody that sees me on YouTube or on Instagram or on Facebook to be interested in what I'm saying to click on my website or click on a landing page to find out more about me and how that person become a paying um uh customer or uh a patient in my office what I also discovered was that as a Physician um you are 2third of the way there to become an online influencer so an online influencer means that um uh you have credibility uh Authority expertise uh and you have an audience so as a doctor you have the credibility as as a a physician and you have the expertise and your specialty or even just medicine all you need is an audience an audience are your followers your subscribers um that's all you need other people have to prove themselves that they Have the authority and the expertise you don't have to do that all all you have to show them is your your medical license and where you've been trained so I I I learned that I was an influencer and all I knew was an audience so that's when I started learning about how to uh uh become uh an online influencer and creating the content that attract the people that uh are my ideal um client which is uh Avatar so Uh I that's when I just discover the power of one to many how to make money I won't even say the word monetized when I heard the word monetized I didn't know what it mean but how to make money instead of one to one in the office or one to one even on zoom and one to many meaning uh meaning you can uh uh have many thousands hundreds of thousand people uh pay you for your expertise and That's where membership uh come into the picture as well as a course so I added the membership and the course in and integrate that into my uh office where we treat uh uh men with uh sexual dysfunction and we added a membership and we added a course uh as well and that skyrocketed our uh business and we we're now getting 12 different type of income from uh uh in addition to just seeing patient in the office now Wouldn't doctors want that when I'm sitting here and I have 11 other sources of income coming in without seeing a patient in the office so this is it's incredible story and I wanted you know kind of just uh simplify it a little bit for the for the audience so you were starting a business with the goal to attract new patients right but now it's kind of morph to even more than that because in your town in Virginia you know you only Have a select number of people that you can attract but now you're getting are you getting new patients are you how would you say are these customers um just kind of clarify that for the listen right right so uh by putting out content that that people can see me on YouTube and Instagram and Facebook they're interested in what I'm saying and the more they listen to me the more they trust me so We by doing that we are getting more uh patient into the office to pay me more I'm able to command a very high price for what I do because I'm regarded as the expert in the field and with the my expertise knowledge and then on top of that I'm able to uh help uh um multiple customers from uh um from all over the world we we have um we have members from New Zealand Nigeria the UK Germany become part of our Membership so I don't call them my patient they are my members that belong into my membership uh for men with sexual dysfunction called The Modern Man Club so I yes I get patient in the office and I'm able to charge more now prior to covid we were only charging $300 for a a new patient conso and then um 20 U around 2021 uh we increased it to 600 now To even come into the office uh at this point it's a is uh right now 10,000 to 15,000 uh at this point where we we because of the content we put out we are the expert in the field and it and niching down to just Sexual Health only that we are elevating ourselves as um the expert in sexual health as so it attract patient into the office and also attracting more members into our membership but Also what it also did was Skyrocket our e-commerce store we we didn't even expect that honestly we our e-commerce store or our store that we sell supplement and medical devices um increase because there were more uh uh they are listening to my content and you know and if I'm talking about okay well take this nitrous oxide it help you with blood flow and as you see the nitrous oxide is branded to my brand name here and Then I have uh a store which uh um which has a link and I tell them to go to uh that link and that storage called Ed no more it's a it's a a very uh simplified um uh website and they go there and they get this so this this guy rocketed like this year um our e-commerce store but uh because of that we also have um affiliate um um you know uh commission as well with uh at Amazon so Because I cross over a certain amount of I can't remember I think 10,000 or something uh on YouTube uh Amazon consider you an influencer so they allow you to open up a store on Amazon free uh and then if anyone goes there at the um to click on the the link your your specific link uh you get a commission and what's so good about the Amazon um influencer store is that if U it's is it is tracked to you for 24 Hours so if someone click on that link and go and buy a supplement but if they come back again if they buy an unrelated item like uh a TV I I get a percentage of that even though I didn't recommend it but Amazon give it a 24-hour uh period period which is really really nice so like I said um just be being online and just delivering the right Content that people are looking for um um will uh give you many opportunities as position many uh sources of income office as a doctor I wasn't used to asking for help especially when it came to subjects outside of medicine but then I found physician coaches.com in an instant I found hundreds of experts to help me in all aspects of Life on areas I was afraid to ask dealing with burnout starting a side gig money management even help with my marriage and The best part nearly all experts are Physicians themselves after reading their profile and a quick chat I knew I found the right Mentor for me at physician coaches.com help from professional colleagues is just a click away yeah so so this is so just to just to you know just to let the listener know you would you say that if you didn't have that influencer you would not be able to charge the prices that you are charging absolutely uh absolutely yeah but Like I said in like in 2020 we were charging $300 for a console now we don't uh now we don't even charge as a console alone uh we charge a package meaning you know they they get they come in for console and the treatment uh as well as a prepackage what I love about this is because this has been around for for years so for example I I knew a physician who's out of Santa Barbara here in California and He was a weight loss physician um and he while the other doctors are charging a certain amount of price he was charging 10 to 15 times higher now the reason why he was charging higher is he had his own special on PBS the the channel on there which would does nutrition and weight loss and people would fly in for that now obviously you know you need to have your own connections to get your own show you need to form contracts he's In La so you know he's probably had a network now with YouTube anyone can have their own show right for free and and we we all look like for I I use YouTube all the time for uh education um and um how would you say you know so you've already said that that that increased your pricing um you have kind of like what is like the the most uh uh you feel like where people find you generally is it through YouTube Is it through Instagram is it a combination oh no YouTube I'm uh because of the content of what we talk about which is sexual health and you know we're kind of not yeah we're kind of banned on Facebook a little bit but Instagram is a little bit more forgiving but it's mainly YouTube I have about right now like 78,000 uh um subscribers on YouTube uh and it's we increase by about 500 every day um and Uh those are the people that listen to my content and uh buy become buyers from us and we have a lot of affiliate um um relationship with recommending other product but YouTube is the only social media platform that will pay you for your content pay you I mean per video there's one video I put out about a month ago and right now it has like 50,000 views or so maybe more it's increasing and I'm getting um from I'm getting from that a video about just one video $3,000 a month wow from that video not the whole channel so um I'm I'm convinced that YouTube is where you need to be uh because that's what people go to learn YouTube they go they go there to learn or they go there to be entertained right uh and so as a doctor you could probably do both but It I I'm I'm I'm not that uh I I I'm I don't have that comedy streak but I'm there to educate I'm just myself I don't dance I don't you know I don't wear fancy clothes or anything like that I show up the same makeup that I do for work this is actually my working clothes right here and I record uh in YouTube uh as if I go to work but The the thing is this is that um is that people find us on YouTube and YouTube PID you Facebook don't pay you and Tik Tok don't pay you uh but P YouTube uh reward you for putting out valuable content that people want to watch I've been on YouTube now for about two and a half years we have figured out a way now to do research where uh uh we are helping doctors putting out content that people are searching for so That way you know they can click on your video and watch we I'm I'm I I'm working with a physician right now she had been on YouTube for four years and had only 2,000 views we work with her uh for last uh uh few months and within the last 30 days that she produced content which is two videos a week and she had gotten 23,000 views in 30 days where four years before um it was uh 4,000 is because she was Putting out content uh you know four years before she was putting out content which she think people need to know instead of putting out content that people are searching there's two two different ideas right because you know if people are searching for something they're more prone to click on the video because they want to learn about it but as doctors if we talk about hemoglobin A1c and we talk about this and that it's just like it's boring right so We want to talk about something that people are searching for and that's what we have discovered the the the secret sauce on how to reverse engineer where we we know what people are searching for and we are producing content uh for that so that we can get more uh more viewers and I love YouTube uh YouTube is free and they pay you and now they have lowered the amount where they will pay uh you so As long as you have 500 subscribers you will get actually get paid by uh YouTube I have a thousand videos on YouTube and one video right now is making me about $3,000 uh right now so if the video the more views the videos get the more YouTube pushes it out for you now how good is that what if a a a platform that that uh PID you for content and help you Market the material as well too and They also do great analytics on the channel that you can look at the analytic and tell which one is really working go deep dive uh into that we're talking with Dr an trong uh physician entrepreneur practice owner we're talking about starting your own online business and we're also uh let letting you know is that we've got a virtual Workshop that's coming up it's our it's our online business challenge coming on June 11th 12th and 13th we have a link with all of the details uh we're limiting it to about a 100 people uh and uh if you ever thinking about starting a business or or want to get started um or maybe you have a business right now and maybe you know you're not getting traffic that you want you definitely want to attend that uh and uh um super excited to bring that to you and Um when we're talking about online businesses um for Physicians you know we've been talking about Physicians they're using it as their practice to get new patients pray we' started a membership but we also think online business can be a great side gig for just that physician who maybe is an employed physician and is looking for extra income I mean that $3,000 a month that sounds pretty attractive that from one video from one video one video that's great yeah so Let's talk about on businesses for Physicians you know I as you know I coach Physicians who are coaches um who are Consultants um I've coached Physicians who have their own app maybe they have their own store they're looking for to get more traffic or they just don't know how to get started so talk about um for them what are some ways uh that they can or you know how can they benefit by having an online business if and Perhaps they don't have their own brick and right right well let let's let's take one scenario where um a a doctor has uh his business and it could take insurance and let's say that doctor uh does um let's say pain management he does uh pain management he that takes insurance and he wants to supplement his income and he just want to you know work less and maybe want to have an online uh business well What he uh what he can do is uh go uh on YouTube and uh produce content that people are searching for and build up his uh subscribers uh and um once he build go over 500 then you know YouTube start uh paying him small it's small but it all depends upon viewers because YouTube pays you a certain amount I think like a dollar something over what a thousand views uh per a th views but The more views you have the that amount is is higher so what I would what I would advise is that if somebody's already have a brick and morar office um and still seeing Insurance you can still produce content on YouTube and then you know start monetizing when you have more subscribers and then you can do open up an Amazon associate store let's say you don't have enough subscriber yet to be an influencer you can open up an Amazon associate store which Then you can get a link for different products you don't even have to have your own store but you could it's so easy to set up it is so easy set up now to have your own uh your online store that you can you know say okay I recommend this nitrous oxide and then you put it in the store and then you can mention uh your store uh it's never been easier to do that and We have a software Dr boss that can do that or you know you can even put it on your website you have a WordPress website you can do that with wo Commerce as well too and uh so that's what I would advise and then you know if that doctor is doing pain management for the knee well maybe produce like a little small mini course on how to uh get uh uh how to get out of knee pain within three weeks just A little mini course that's like an appetizer and charge you know less than a hundred bucks for that and then from that course then he can open up he or she can open up a membership about okay uh you over 50 and U Mobility you know increased mobility and energy over 50 so so you see how it all align uh with uh with his practice if he's seeing patient in the office doing uh you know let's say spinal injection or something Like that or doing knee injection then do a course but but how he attract people for the course and the membership is through YouTube and and YouTube it's also on by Google right so if you produce content on YouTube and somebody is going on Google and searching for let's say knee pain you show up you show up now on on Google and Google uh command 70% of all searches online right and the other 30% is Yahoo and Bing but Who cares 70% of the whole world right is searching uh online as well so um that's what I would would recommend so if somebody that's like okay they're an academic in fact right now I'm coaching a physician right now she's an academic right now uh and she uh is an OBGYN and she does highrisk uh OB and she wants to create a she wants to create an online business and After of our session together we decid you know what the best thing is to do healthy pregnancy H if you're pregnant how to have a healthy pregnancy for the whole nine months I think that is fabulous and so you can create like a little small mini course all right and then lead them to the membership so that way she can still continue to do what she does with her uh job an academic but Then has another uh uh side gig as an online membership uh as well but in order to do that you can open up a a membership but you got to be on social media like YouTube so that way you can get uh viewers I call eyeball you can get viewers uh to pay attention to your product and pay attention to what you say that brings me back to why we're doing the challenge we're doing the challenge to teach doctors on how To Niche down why is it important for them to Niche down Niche down meaning uh meaning just being very specific in one service that you just want to focus on one area like I'm I'm coaching a doctor right now and she's doing pain management and she can do neck uh low back shoulders wrist hand everything but we decided to Niche her down to just knee pain for pickle ball players how that I mean that's Niche down why pick a ball player That's the fastest rising sports right now that's I know that's a sport you love right now too right and it's a f and and everybody pickleball players will do anything if they can't play Pickleball rightz most of the time they have knee problem so we decided Niche down just to pick a ball players and for knee and that's the one that I told you about the that within the last 30 days her she been she's had 23,000 views yeah because of One video that she produced and it was uh um uh um and how to get pain a uh painf free knee pain in three weeks and then we also uh get um created um a free some like a free checklist that uh she made so that way um uh she can collect email uh um and then that way she can talk to the uh customer longer so they can come into the office so It's all about you know what what I what in our challenge we're GNA talk about you know what to Niche down how to Niche down and why niching down as Doctor yes we can treat things from head to toe you know I'm a specialist but I can still treat a coold and so forth like well but we want to Niche down because once you Niche down you have one customer that you you talk to and You go deep on that uh customer uh as well I I've been talking to one customer for the last four uh um for the last 2014 10 years which is a man in his 50 with sexual dysfunction that's one customer I've been talking to this whole time and that's why I'm able to grow the business so quickly uh and it really helped me really focus on what area of the business I I want to uh grow with because it helped me Put uh focus on supplement the different um specific supplement and specific content that I can produce uh and my membership so as a doctor because of your Ed uh your credibility and your expertise you can create a membership you can create a course in probably a couple of hours and create a membership never been easier and just hop on Zoom sometimes Zoom is a free account create that um that uh uh course and Then you can uh do a membership as well with deliverables you know on zoom and some uh checklist it's never been easier and now with AI uh as well you you're going to be able to produce that in uh much less time and we we discuss all that in our uh three-day uh online business uh challenge yep yep again it's happening The Physician online business challenge I guess we don't really officially have a name but That's what I'm going to call it's going to be June 11th 12th and 13th uh we're taking about 100 doctors we're looking for 100 doctors who want to get started on their own online business uh it's affordable uh and uh it is uh just you know loaded with information for you to get started so perhaps even you want to start your business don't know you know maybe haven't got off the ground we have this idea I know we all have like Different ideas if it's will work but you're looking for uh you know just just you know someone to help you do it we love working with other Physicians I think you know we Physicians these days we have to support one another and uh that's why an and I came up with this challenge so we're really excited to bring that to you again uh the link to go is bootstrap md.com go challenge uh but We'll also have a link in the show notes to tell you all about it uh I Ann I know your time time is uh uh is limited here uh you gotta play tennis I gotta play Pickleball but you know um anything that any last minute thoughts before we end the call today right I I think you know if you're a physician uh and whether you're an employee physician in private practice or just really want to have multiple stream of income and You do you I believe every physician has at least uh a $10 million bill business in their head they just need to know how to express it out and how to uh to know how to get the uh the uh the buyers uh to come to you because what you know what the at least 12 years of putting in the grind and the hard work that uh that you know that you put into to become a physician you can now Be able in 2024 never been easier to make money from that knowledge by just teaching people what they desperately want to know because if you don't do it other people will do it that are not physici that are giving misinformation that are that are just in it to just make money you know we as physician we all want to help uh people whether they are are are patient uh or not and you're in the best qualified posi U position right now To do so all you need is an audience to do so that's one and now two is that you can have multiple stream of income rather than just seeing patient in the office you can now uh have the ability to make money online and to make money while you're sleeping like I said I'm sitting here right now talking to you and I have uh at least right now of 11 other sources of income that are clocking away for me right now But what it does is it bu it buys you more freedom right uh it buys you more freedom and time and give you that extra income that will allow you to do what you want to do yes if you can be in you know can have take insurance you can be employee position but how about you know spending you know a few hours a week to be able to develop that uh business or go full-time I'm right now Probably going to be going uh full-time on the online I you know that that income right now is U surpassing what my in office is uh at this point because you can have multiple sources of income I said 12 but that's what I thought of but if I think about it some more I'm uh I probably come up with more and what it also does is this it give you exposure on social media what does that mean that mean that you Know one day you may get a a call from you know uh Elon M you may get a call from Jeff basos you know because they may have an issue they may want to speak with you or they may want to highlight you so you never know who pays attention on social media and you never know who may reach out to you I can tell you that um multiple brand uh big brands have reached out to me to uh help them Promote their product so uh I make a little commercial for uh a brand right now that they're paying me for 20 second video on Tik Tok and they pay me $4,000 to make four videos for them uh 20 second video and uh I'm like well that's not a bad you know a 20 second that's a minute and 20 seconds and making $14,000 for a minute 20 seconds just producing just really holding up their products and You know I mean I I I I believe in their product but all I'm saying is that hey this is how it works I'm not you know I it's like I don't feel that I'm being bought I I'm just saying this is how this should work and help can help people and that's it um so there are multiple ways that uh that you can become a brand ambassador but that's just one way of monetizing but Think of how many people you can help not just the people in your office but I'm now helping people in Nigeria I'm helping people now in uh England and Germany that in my wildest dream before 2020 I would never imagine I just thought that I can only help people in Virginia where uh I'm at so the um the you know it's Unlimited uh at this point and uh I'm actually right now to I'm making a deal right now With a supplement company that uh going to help us um grow our business uh significantly uh as well too so a lot of things uh uh in the works at this time so my point is okay don't waste that 12 years 14 years or 16 years of uh schooling uh that you did because you know what there there are business to be made from uh your expertise and it's meaningful to be because my daughter right now Is in medical school she just finished her second year about to take her uh part one uh um board and I want to make sure that you know to make this a better place and be able to tell her yes you're doing the right thing I don't want to tell her not to go into medicine I still feel that whatever happened AI or whatever uh people still need doctors and Doctors are uh a valuable asset to you know um at any time at this point so anyway thank you for having me here I'm just really passionate about this because I feel that Physicians sometime are are being undervalued underpaid overlooked uh and being overly managed and no wonder uh we have burnout but now I whoever is listening to this I want you to start thinking huh maybe I can you leverage my expertise now to have an online business and Be there at the three-day uh three-day challenge or online business programing it's actually we don't even have a name for it yet because we're so excited to get this out and to get doctors um um you know uh be aware of this that we haven't had a name yet and and Mike and I are like the same we think the same we execute fast and we want to be able to help you uh uh you know provider phys right now To be able to now have some you know the freedom and choice now a awesome awesome well well thank you thanks and thanks for listening again if you're interested uh we go to bootp md.com go challenge it's our live uh or or online pH online business challenge that's what I'm officially going to call it uh and sign up tonight uh again if you're as an entrepreneur you're going to have your ups and Downs um in in business that that's just kind of the way business goes you know finding a mentor finding someone who's already been there done that can help you go through the rough the rough patches and keep moving you