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Why Are Physicians Afraid to Start a Business?


Many physicians think about the opportunities that exist for them when it comes to starting a business, but they often get caught up in one reason or another for why they can’t start a business and fear is a big stumbling block.

Practice Management, Columns, Lifestyle, Business

Physicians are often brilliant people that got into the business of healthcare for the purpose of helping others. Many think about the opportunities that exist for them when it comes to starting a business, but they often get caught up in one reason or another for why they can’t start a business and fear is a big stumbling block. What’s stopping you?

Don’t Want to Ask for Help

It’s easy to think that since you are on top of your game in medicine that no one will take you seriously if you ask for help with your business idea. Rather than putting yourself down for asking for help from others, you should be thinking about positioning yourself in the same way you did in medical school. Looking to learn from the knowledge leaders in an area you need help in, such as marketing or networking.

Fear of Failing After Being Successful at Everything in Medicine

You understand the ins and outs of medicine and that comes easily to you after working hard towards getting to where you are today. It can be nerve-wracking to consider doing something where failure is a possibility after being so successful. Remembering that even the most successful business people fail at first — and sometimes spectacularly. It is a good way to get over your fear and learn along the way.

Too Comfortable with the Status Quo

You have gotten complacent with your current status in life, and don’t want to rock the boat. You know exactly what to expect in your life, and worry about what may happen if you make any changes. Going into business for yourself can change the status quo, but it puts you in the powerful position of being in charge of your own future. You control your own destiny, not your employer or partners.

Afraid of What Peers or Family Might Think

You may worry what others are going to think. You may worry that they may think that you’ve become a mercenary or have forgotten why you went into medicine in the first place, even if that’s not the case. The best way to get over this particular fear is to start talking with your peers and loved ones. You may be pleasantly surprised at how receptive they are toward your business ideas, and they may offer some of the best encouragement for you to stop sitting on your dreams.

Understanding the reasons as to why you are worried about stepping outside of your comfort zone can help you to push yourself forward with your business idea. You were able to get yourself through the tough road of school and residency. You can move towards your future goals once you address why you were worried in the first place.

Are you ready to take the leap and take charge of your future? Are you ready to turn your dreams into reality? Then it is time we talk about how coaching can help you get started on that journey. To find out more, visit physiciancoach.guru/coaching.

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