Physician Entrepreneurship: How to Build a Business While Practicing Medicine with Dr. Mike Woo-Ming | Ep67
What if your medical expertise could become the foundation for something you actually own?
In this episode of the Better Physician Life Podcast, Dr. Michael Hersh welcomes Dr. Mike Woo-Ming. Having built and sold a seven-figure software company while practicing medicine, Dr. Woo-Ming shares how physicians can explore entrepreneurship, overcome risk aversion, and recognize the value of skills developed through medical training.
The conversation explores finding your why, validating business ideas, navigating uncertainty, and building income that isn't entirely tied to clinical hours. Dr. Woo-Ming and Dr. Hersh discuss how entrepreneurship can take different forms, from telemedicine and lifestyle medicine to nonclinical businesses and personal branding. They also highlight the importance of treating yourself as your own CEO and using transferable business skills to create a more sustainable professional life.
About the Show:
Created for physicians who want more than clinical competence, Better Physician Life is a space for honest reflection, reinvention, and reclaiming purpose beyond the pager.
Hosted by Dr. Michael Hersh, each episode dives into the questions we didn’t learn to ask in training, offering tools and conversations to help you live and lead with intention.
Three Actionable Takeaways:Â
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Identify Your Why Before Building: Entrepreneurship becomes more purposeful when you understand what motivates you. Reflect on the problem you want to solve, the impact you want to create, and why it matters personally. A clear purpose can help you remain committed through uncertainty, slow progress, and the demands of clinical work.
- Validate Your Business Idea: Before investing significant time and money, examine whether people need and pay for the service you want to offer. Research competitors, identify your audience, and consider how your medical expertise creates differentiation. Start with a practical opportunity rather than assuming every innovative idea will become a viable business.
- Recognize Your Transferable Skills: Think beyond your identity as an employee or clinician. Develop skills in communication, marketing, leadership, delegation, and managing multiple projects. Whether you launch a business, explore telemedicine, or pursue another professional path, these abilities can support greater flexibility and more intentional career decisions.
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