What's in your physician advisor black bag?

What's in your physician advisor black bag?

If you decide that you want to be a physician advisor, consultant or assume some other role as part of a medical technology company, you will need the right tools. When I started medical school, I was given a black bag with my name misspelled on it as a "gift" from a pharma company. Inside were the then tools of trade that would almost be laughable these days, like a stethoscope, a reflex hammer and an otoscope that could not be used to do pneumatic otoscopy (batteries not included) and neither were the golden handcuffs.

I mean, who really does a physical examination these days instead of just ordering a CAT scan.?

Now that more healthcare professionals are pursuing non-clinical careers as sickcare technopreneurs, they need different tools, mostly on their iPhone or other mobile device. These should include:

  1. A decent website
  2. An updated Linkedin profile
  3. An advisory services agreement they can send to clients
  4. A corporate entity to manage risk and business revenues and costs
  5. A separate business bank account
  6. A personal and professional advisory board
  7. Online productivity, information and communications and scheduling tools like Cloud, UCaaS, SD-Wan, Cybersecurity, Video Conferencing, Voice Solutions, Disaster Recovery, Contact Center Solutions, AI, and IoT?
  8. A green screen so you can project cool stuff in the background during your online meetings
  9. Business cards, just for fun.
  10. An accountant and lawyer who can tell you how much phantom income you realized and taxes you will have to pay because you accepted stock options or other forms or equity for your services without signaling before you turned.
  11. A personal and professional development plan
  12. A marketing plan
  13. A plan for what you will do when your white coat gets the pink slip
  14. Exercises to control your entrepreneurial envy
  15. Figuring out how you will get S#%T done
  16. A way to create codeless mobile apps.
  17. A CRM
  18. A way to turn down a client
  19. What to do when you have been ghosted
  20. Some agreement on how you will work other than on a 9-5 schedule
  21. Complete Invincible Company toolkit
  22. Value proposition and business model convas toolkit
  23. iCorps resources
  24. Business model you template
  25. Innovation readiness assessments

Thanks to Will Bachman for the following information and resources:

1. If you are currently an independent professional, you are invited to join the global community I run that connects top tier professionals with one another.??Register here.

2.?If we haven't connected already, I invite you to send me a connection request on LinkedIn. Here's my profile:??https://www.dhirubhai.net/in/willbachman/??

3. The talk on January 12 was a highly compressed version of?The Umbrex Guide to Setting Up Your Own Consulting Practice, which has 90 videos and 30 templates to download.

4. Here is a list of the podcast episodes that I referred to:

  1. LinkedIn best practices for independent consultants (Ep 211)
  2. How to set consulting fees (Ep?174)
  3. The consulting revenue equation (Ep 223)
  4. How to set up a CRM system for a consulting practice (Ep?172)
  5. Tips for working with staffing firms (Ep 50)
  6. Business development (Ep 1?with David Fields)
  7. Legal contracts (Ep 12?with Matt Weill)
  8. Health insurance (U.S.) (Ep 54?with Molly Leeds)
  9. Business insurance (U.S.) (Ep 11?with Dorene Stockman)
  10. Tax accounting (Ep 56?with Jonah Gruda)
  11. Bookkeeping (Ep 95?with Chara McGill)
  12. Virtual assistant (Ep 40?with Karen McGrath)
  13. How and why to start a podcast (Ep 10?and?Ep 146)
  14. Maintain a project list (Ep 140?with Jay Martin)
  15. Portfolio of sanitized work (Ep 121)
  16. Be contactable (Ep 114)
  17. How to pay a subcontractor (Ep 106)
  18. How to make outbound business development calls (Ep 170?with David Fields)
  19. Become Indistractable (Ep 200?with Nir Eyal)
  20. The power of sending recap emails (Ep 203)
  21. How to recover from a career setback (Ep 97?with Nayla Bahri)
  22. Build relationships now with future clients (Ep 228)
  23. How to source experts for interviews (Ep 213)

Every week I send an email with summaries of the most recent episodes of my podcast, and, occasionally, some bonus material. You can sign up for that weekly email at the top of?this page.

5. Here are the?slides I shared.?

6. A few useful documents

Proposal template

Contract with client

Contract with subcontractor

NDA

Invoice template

LinkedIn Profile Best Practices

7. Link to a?recording of the talk.

Here is a place to get free apps to setup your startup.

You will also need to rethink your wardrobe. Embroidered fleece vests are the new black.

You might also think you are impressing people when you show up or Zoom up to your side gig carrying your black bag. It might be a nice touch as long as you realize that advising is not doctoring.

Now is a good time to make resolutions to build or buy this stuff. Of course, most of it you won't do , but at least it will be a start and you can revisit the list this time next year. Maybe if you put a hand up this year you will show up next year.

Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs.

Yiyang Ma, MS IT, MS MKT, PMP, CSA

Steering strategic IT projects for peak performance.

2 年

I enjoyed the list! Only thing I could add is “a list of high quality prospects renewed routinely”. It is implied in your CRM bullet however. Thanks for the brain food Arlen.

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John C. Baumgarten Sr.

Senior Partner/Executive Team Member at OTG Consulting / CEO at Corbyn Group Consulting LLC. Advisory Board Member at Tech9

3 年

Well written Arlen and thanks for sharing! The team at OTG Consulting can assist as we are absolutely focused on Item #7 on your list and have helped a great number of organizations with these needs.

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Satish Ponnaiya CHFP

I achieve organizational goals through strategic and transformational initiatives.

4 年

This is great advice Dr.Meyers. It would also be beneficial to have some of the methodologies and structures used to manage strategy, operations, projects and technology - examples include the balanced scorecard, the 5 forces. strategy mapping, methods to convert goals to action like the organization structure, R&R, KPI/KRA etc., project management, lean, MVP and so on. It takes a lot of structured thinking, planning and operating (not in the OT) to bring ideas to success.

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