Coaching-Mentorship: A Key to Unlocking Success

This Week's Real-Life Lesson

When I first stepped into the world of physician entrepreneurship, I thought my years in medicine would give me a solid head start. I had treated thousands of patients, led medical teams, and run clinics. What I didn’t realize was that business success required a completely different mindset—and a different set of tools.

I remember early on, sitting in a local coffee shop with a legal pad full of scribbles trying to figure out how to structure my first business entity. My instinct was to just figure it out on my own. After all, that’s how I handled complex patient cases, right? Wrong. I made some expensive mistakes, overlooked key tax-saving strategies, and spent way too much time guessing my way through decisions others had mastered.

What changed everything for me was finding the right mentors. People who had built successful businesses and who were generous enough to share their roadmaps. Today, I invest heavily in coaching and mastermind groups because I’ve learned this truth: the fastest way to grow is to follow someone who’s already been where you’re going.

The Entrepreneurial Wake-Up Call

As a physician, you're used to being the expert. You’ve trained for decades, passed grueling exams, and built a career that demands precision and confidence. But entrepreneurship humbles you quickly. There are no step-by-step textbooks, no standardized board exams to prepare for what it really takes to start, build, and scale a business.

Mentorship bridges that gap. It gives you access to real-world experience and seasoned insights. Whether it's structuring your first micro-corporation, launching a niche product, or investing in real estate, a mentor accelerates your journey while minimizing your risk.

I recently wrote about my experience investing in short-term rentals as a physician entrepreneur. That path would have been far bumpier without the wisdom of those who came before me. Their guidance helped me legally structure my properties, maximize tax benefits through cost segregation, and qualify for Real Estate Professional Status.

A Case Study in Coaching

Let me introduce you to Dr. Jenna, a pediatrician I recently coached. She was stuck in the classic W-2 burnout loop. Despite being a highly competent clinician, she felt powerless over her income and schedule. Through our coaching sessions, we uncovered her passion for integrative health and helped her create a cash-pay micro-practice focused on pediatric wellness.

We walked through entity formation, website creation, and client acquisition strategies. She used the Physician Side Hustle Starter Kit from the PEA-SimpliMD resource library to get her business off the ground. Just six months later, Dr. Jenna has replaced her old income and now has full autonomy over her practice.

The key? She didn’t try to do it alone.

Why Coaching Pays Dividends

I know what you're thinking: coaching and mentorship sound great, but are they worth the cost? Here's how I see it:

• One wrong move in tax planning could cost you $10,000.

• Wasting a year on a side gig that doesn’t align with your skills could delay your financial goals.

• Spinning your wheels on a DIY business structure could expose you to liability.

Now imagine someone helping you sidestep all that. That’s the ROI of mentorship. Whether you join one of our PEA Coaching Programs or find a trusted mentor in your niche, the investment will pay itself back many times over.

A common question I get is what is the difference between coaching and mentors? You can read more about the the differences in my free eBook: Why Doctors Need Teachers Mentors and Coaching

Action Step:

Find a mentor in real estate investing or any area of entrepreneurship you’re focusing on. The knowledge they impart can be a game-changer in your journey to financial independence.

You can also start with our free e-book "Business Mindset Shift: Mapping The Transformation of Your Professional Identity" to shift your mindset.

Or, you can reach out to me to schedule a business strategy session and I’ll help assess where you are and help align the right resources to your situation. Think of it like a one time coaching session. Those who have done this with me love the personalized consultation. You can schedule a Business Strategy Consultation here.

"Is This Deductible?" Sidebar

Yes, that beach rental was your strategy meeting.

That weekend mastermind you attended by the ocean? That counts as a business strategy session—and may be deductible.

👉 Learn more in my free eBook The Ultimate List of Business Deductions for Physicians

Join the Movement

Thousands of clinicians are breaking free through micro-business ownership. Ready to join them?

➡️ Join PEA Explorer Membership

Whether you're just getting started or you're trying to scale, remember: you're not supposed to do this alone. Lean into the wisdom of those ahead of you. That’s the secret most successful entrepreneur-physicians won’t tell you: they had a guide.

Let me be one of yours.