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Ep306 - Why Smart Doctors Stay Poor (And How to Instantly Fix It)

BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming

Release Date: 08/13/2025

EP326: 2025 Retrospective - What Actually Worked (And Flopped) for Physician Entrepreneurs. show art EP326: 2025 Retrospective - What Actually Worked (And Flopped) for Physician Entrepreneurs.

BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming

EP326: 2025 Retrospective - What Actually Worked (And Flopped) for Physician Entrepreneurs.  This episode is sponsored by . Lightstone DIRECT invites you to partner with a $12B AUM real estate institution as you grow your portfolio. Access the same single-asset multifamily and industrial deals Lightstone pursues with its own capital – Lightstone co-invests a minimum of 20% in each deal alongside individual investors like you. You’re an institution. Time to invest like one. _____________ This Episode is also sponsored by Ryze Health Every minute counts in medicine—so why waste it on...

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EP325: What If Wiping Out Was the Key to Rising Stronger in Medicine? show art EP325: What If Wiping Out Was the Key to Rising Stronger in Medicine?

BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming

This episode is sponsored by . Lightstone DIRECT invites you to partner with a $12B AUM real estate institution as you grow your portfolio. Access the same single-asset multifamily and industrial deals Lightstone pursues with its own capital – Lightstone co-invests a minimum of 20% in each deal alongside individual investors like you. You’re an institution. Time to invest like one. _____________ This Episode is also sponsored by Ryze Health Every minute counts in medicine—so why waste it on clunky admin work? With Ryze Health, practice management becomes effortless. Our all-in-one...

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EP324 : Why Physicians Are Co-Investing in $55M Deals with a $12B Real Estate Giant show art EP324 : Why Physicians Are Co-Investing in $55M Deals with a $12B Real Estate Giant

BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming

This episode is sponsored by . Lightstone DIRECT invites you to partner with a $12B AUM real estate institution as you grow your portfolio. Access the same single-asset multifamily and industrial deals Lightstone pursues with its own capital – Lightstone co-invests a minimum of 20% in each deal alongside individual investors like you. You’re an institution. Time to invest like one. _____________  This Episode is also sponsored by Ryze Health Every minute counts in medicine—so why waste it on clunky admin work? With Ryze Health, practice management becomes effortless. Our all-in-one...

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EP323 : Never Split the Difference: The FBI Negotiator’s Playbook Every Physician Needs show art EP323 : Never Split the Difference: The FBI Negotiator’s Playbook Every Physician Needs

BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming

This episode is sponsored by . Lightstone DIRECT invites you to partner with a $12B AUM real estate institution as you grow your portfolio. Access the same single-asset multifamily and industrial deals Lightstone pursues with its own capital – Lightstone co-invests a minimum of 20% in each deal alongside individual investors like you. You’re an institution. Time to invest like one. _____________   This Episode is also sponsored by Ryze Health Every minute counts in medicine—so why waste it on clunky admin work? With Ryze Health, practice management becomes effortless. Our all-in-one...

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EP322: Who Am I Without the White Coat? Leaving Clinical Medicine Without Losing Yourself show art EP322: Who Am I Without the White Coat? Leaving Clinical Medicine Without Losing Yourself

BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming

This episode is sponsored by . Lightstone DIRECT invites you to partner with a $12B AUM real estate institution as you grow your portfolio. Access the same single-asset multifamily and industrial deals Lightstone pursues with its own capital – Lightstone co-invests a minimum of 20% in each deal alongside individual investors like you. You’re an institution. Time to invest like one. _____________   This Episode is also sponsored by Ryze Health Every minute counts in medicine—so why waste it on clunky admin work? With Ryze Health, practice management becomes effortless. Our all-in-one...

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EP321: How to Set Your 2026 Goals Now (Yes Now!) - A 6 Week Jumpstart for Physician Entrepreneurs show art EP321: How to Set Your 2026 Goals Now (Yes Now!) - A 6 Week Jumpstart for Physician Entrepreneurs

BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming

This episode is sponsored by . Lightstone DIRECT invites you to partner with a $12B AUM real estate institution as you grow your portfolio. Access the same single-asset multifamily and industrial deals Lightstone pursues with its own capital – Lightstone co-invests a minimum of 20% in each deal alongside individual investors like you. You’re an institution. Time to invest like one. _____________   This Episode is also sponsored by Ryze Health Every minute counts in medicine—so why waste it on clunky admin work? With Ryze Health, practice management becomes effortless. Our all-in-one...

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EP320: Ten Reasons Why Every Physician Needs a Mentor show art EP320: Ten Reasons Why Every Physician Needs a Mentor

BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming

This episode is sponsored by . Lightstone DIRECT invites you to partner with a $12B AUM real estate institution as you grow your portfolio. Access the same single-asset multifamily and industrial deals Lightstone pursues with its own capital – Lightstone co-invests a minimum of 20% in each deal alongside individual investors like you. You’re an institution. Time to invest like one. _____________   This Episode is also sponsored by Ryze Health Every minute counts in medicine—so why waste it on clunky admin work? With Ryze Health, practice management becomes effortless. Our all-in-one...

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EP319: Inside the Room - What Really Happens in Millionaire Masterminds show art EP319: Inside the Room - What Really Happens in Millionaire Masterminds

BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming

This episode is sponsored by . Lightstone DIRECT invites you to partner with a $12B AUM real estate institution as you grow your portfolio. Access the same single-asset multifamily and industrial deals Lightstone pursues with its own capital – Lightstone co-invests a minimum of 20% in each deal alongside individual investors like you. You’re an institution. Time to invest like one. _____________  This Episode is also sponsored by Ryze Health Every minute counts in medicine—so why waste it on clunky admin work? With Ryze Health, practice management becomes effortless. Our all-in-one...

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EP318: Seven Steps to Building a Patient Funnel That Converts (Without Ads) show art EP318: Seven Steps to Building a Patient Funnel That Converts (Without Ads)

BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming

This episode is sponsored by . Lightstone DIRECT invites you to partner with a $12B AUM real estate institution as you grow your portfolio. Access the same single-asset multifamily and industrial deals Lightstone pursues with its own capital – Lightstone co-invests a minimum of 20% in each deal alongside individual investors like you. You’re an institution. Time to invest like one. _____________ This Episode is also sponsored by Ryze Health Every minute counts in medicine—so why waste it on clunky admin work? With Ryze Health, practice management becomes effortless. Our all-in-one...

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EP317: Five Emerging Business Models for Physician Entrepreneurs show art EP317: Five Emerging Business Models for Physician Entrepreneurs

BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming

This episode is sponsored by  Lightstone DIRECT invites you to partner with a $12B AUM real estate institution as you grow your portfolio. Access the same single-asset multifamily and industrial deals Lightstone pursues with its own capital – Lightstone co-invests a minimum of 20% in each deal alongside individual investors like you. You’re an institution. Time to invest like one. _________ This Episode is also sponsored by Ryze Health Every minute counts in medicine—so why waste it on clunky admin work? With Ryze Health, practice management becomes effortless. Our all-in-one...

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This episode is sponsored by: My Financial Coach

You trained to save lives—who’s helping you save your financial future? My Financial Coach connects physicians with CFP® Professionals who specialize in your complex needs. Whether it’s crushing student loans, optimizing investments, or planning for retirement, you’ll get a personalized strategy built around your goals. Save for a vacation home, fund your child’s education, or prepare for life’s surprises—with unbiased, advice-only planning through a flat monthly fee. No commissions. No conflicts. Just clarity.

Visit https://myfinancialcoach.com/bootstrapmd/  to meet your financial coach and find out if concierge planning is right for you.

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In this episode, host Dr. Mike Woo-Ming, explores the mental barriers preventing physicians from thriving as entrepreneurs. Dr. Woo-Ming shares his wake-up call from a grueling Christmas morning ER shift, highlighting the pitfalls of a risk-averse, perfectionist mindset ingrained by medical training. He outlines three transformative mindset shifts: moving from perfectionism to iteration, transitioning from clinician to CEO, and embracing collaboration over scarcity. Through stories of building cash-based clinics and a test-prep company, he emphasizes creating systems for value-based revenue, delegating tasks, and learning from competitors. Dr. Woo-Ming offers practical tools like the Goal Getting Six system and CEO time-blocking to help physicians build sustainable businesses while maintaining clinical excellence. This episode is vital for healthcare professionals seeking to overcome burnout, regain autonomy, and build wealth through entrepreneurship.

Three Actionable Takeaways:

  1. Embrace Iteration Over Perfection – Start your business imperfectly and refine it with real patient feedback. Done beats perfect; focus on solving problems rather than flawless execution to build momentum and grow sustainably.
  2. Transition to a CEO Mindset – Delegate routine tasks to staff and create systems to work on your business, not in it. Invest in training mid-level providers to free up time, ensuring your practice runs without you as the bottleneck.
  3. Adopt a Collaborative Approach – Shift from a scarcity mindset to one of abundance by learning from competitors’ successes and failures. Research market demands and differentiate your services to create value and build lasting relationships.

About the Show:

Bootstrap MD is the ultimate podcast for physician entrepreneurs looking to escape traditional healthcare and control their financial futures. Hosted by Dr. Mike Woo-Ming, a successful physician, entrepreneur, and investor, the show delivers actionable insights on starting businesses, creating passive income, and navigating healthcare entrepreneurship. Featuring interviews with industry leaders, physicians, and experts in telemedicine and digital health, it’s your guide to building a profitable, fulfilling career. Tune in weekly at  http://bootstrapmd.com 

About the Host:

 Dr. Mike Woo-Ming has over 20 years of experience as a physician entrepreneur. He’s built and sold multiple seven-figure companies and now leads Executive Medical, a group of clinics specializing in age management and aesthetics. Through BootstrapMD, he mentors physicians in business, content creation, and autonomy.

Let’s Connect: www.https://www.bootstrapmd.com