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#48 - How Many Income Streams Do You Really Need?

#48 - How Many Income Streams Do You Really Need?

FromThe Career Rx Podcast for Doctors


#48 - How Many Income Streams Do You Really Need?

FromThe Career Rx Podcast for Doctors

ratings:
Length:
30 minutes
Released:
Jan 12, 2021
Format:
Podcast episode

Description

How many income streams do you have? How many income streams do you think you should have? In this physician focused episode, I answer the listener question, “how many income streams is really the right number? And how did you decide?” Then I take it further and explain four key reasons why the number you have in mind may not be the right number!  I know this episode is longer than usual but trust me, you’ll wanna stick around until the end. In this episode of The Career Rx we’ll discuss:What being overextended means for your side-gig What’s the magic number? There’s real, peer-reviewed science at work here.Putting social comparison into perspective.How credible sources build credible businesses.You’ve been told that you need a bunch of side gigs and income streams. Being a doctor isn’t enough these days. But, if you’re feeling exhausted and burned out and all those things, your reality check is here. By the end of this episode, you will have an understanding of what income streams you need (or don’t need). These real-world examples will guide you through your feelings of burnout, buying happiness, the pressure of  social comparison, and the most important thing to get right if you DO decide you need more income streams.“There's a million things you could do, but only a few that you really should do.” - Marjorie StieglerIn this Episode: [1:35] Stop hustling.[4:40] If it’s not about the income, then what’s it all about?[6:00] A purely professional point of view[7:50] Falling victim to the outsourcing paradigm[9:30] “Just be a doctor.”[11:15] The magic number that ‘buys happiness’[15:30]  Mo Money, Mo Problems[17:50] Social media is a highlight reel - and you’re comparing to your inner critic [21:21] The right reasons to start a business[23:00] Irony alert - from a doc with lots of income streams...[25:10] My gift to you - we can celebrate together![26:00] You’ll wanna hang around for this newsLinks and Resources: The Branding Rx 18 hours of CME, mastering digital strategies for advancing your career, building your business, and growing your professional brandThe Speaking Rx learn the business of professional public speaking to establish yourself as a thought leader you are, and get paid for your speaking expertiseIndustry Insider - what to know about landing a nonclinical career without a new degree, a foot in the door, prior experience, or a pay cutLaunch an Online Course on Any Budget - know your course will sell before you spend any time or money to create it; plus, the exact logistical blueprint to get paying customers and a way to deliver your course without spending a dime (ready to scale up when you are!)The How of Happiness 
Released:
Jan 12, 2021
Format:
Podcast episode

Titles in the series (100)

You know you're not alone. Many doctors are frustrated by bureaucracy, stagnation, and burnout. If you're stuck on a career treadmill and your hard work isn't getting you the results you deserve, you need The Career Rx! This podcast is about modern business, branding, social media, and digital platforms to help physicians advance their careers. Grow your practice, build a successful physician side gig, achieve academic promotion, become a physician entrepreneur, and even transition to a nonclinical career. From the author of The Social Prescription (social media for doctors) and the creator of The Rx Series (business, public speaking, professional branding, and digital marketing for doctors), this podcast will help you do more of the work you love (and less of what you don't) by teaching you both timeless and modern career strategies that you don't learn in medical school. Finally, enjoy career success on your own terms with The Career Prescription podcast for doctors and other healthcare leaders.