Any ER docs own side businesses?

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zurned

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hi all,

Just wondering if any of you guys own side business in addition to working in the ER. I have random thoughts sometimes and would like to hear some inspiration from others.

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Yup, Jobmap.io is my side business -- I saw a major deficiency in the Emergency Medicine job search process, so built my own solution. I'm happy to share details if anybody is interested. Essentially used Knack to develop a database, connected data points publicly available from CMS and the Census Bureau, and hosted the interactive map on a squarespace site. Lots of the processes are automated.
 
Many run urgent cares, do real estate, do medspas/botox (mostly older guys)
 
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I have a photography side business they admittedly doesn't do very well. It's more of a hobby interspersed with me doing photos for people. Stemmed from people wanting to buy my landscape shots but I just dont try very hard to promote the biz
 
hi all,

Just wondering if any of you guys own side business in addition to working in the ER. I have random thoughts sometimes and would like to hear some inspiration from others.

Yes. Many of us have side businesses. It is a predictable byproduct of having a lot of free time and an entrepreneurial spirit.
 
EM docs have alot of time for side businesses. Yeah the hrs are all over the map but you are only working about 30-35hrs/mo. Plus u make a lot of money.

I think Real estate is easy to get into and could be a great passive income by age 60. I have 7 homes for rent right now. Hope to add on 2-3 more next yr and for the foreseable future. Hope to hit 25 homes/duplexes in 5 yrs.
 
EM docs have alot of time for side businesses. Yeah the hrs are all over the map but you are only working about 30-35hrs/mo. Plus u make a lot of money.

I think Real estate is easy to get into and could be a great passive income by age 60. I have 7 homes for rent right now. Hope to add on 2-3 more next yr and for the foreseable future. Hope to hit 25 homes/duplexes in 5 yrs.

Easy to get into, but not so easy to do well in if you don't love it. Lots of people do poorly in real estate.
 
The thing about real estate is anyone that got in during the housing bubble crash is now making a killing. But that's because they bought properties for pennies on the dollar. In a typical housing economy it's not a sure thing but it does seem like folks are still flocking to it based on the experiences of those who jumped in in 2008.
 
Suppose that I wanted to start a business or something during the week and work in ER on weekend days and maybe the Friday swing shift as well. Would groups be open to that?
 
Suppose that I wanted to start a business or something during the week and work in ER on weekend days and maybe the Friday swing shift as well. Would groups be open to that?

Groups will always be open to hiring people to work the undesirable shifts. This gets asked a lot and he answer is always yes. If you want to exclusively work nights, weekends, and holidays groups will be beating down your door (mine included).
 
Suppose that I wanted to start a business or something during the week and work in ER on weekend days and maybe the Friday swing shift as well. Would groups be open to that?

The answer is yes but be careful what you ask for. I'm doing weekend shifts for similar reasons and it sucks for the family. I Plan on winding this down in the next year.
 
Groups will always be open to hiring people to work the undesirable shifts. This gets asked a lot and he answer is always yes. If you want to exclusively work nights, weekends, and holidays groups will be beating down your door (mine included).
Hey Hercules. Just started an Urgent care in Indiana. Can I contact you for some advice? Thanks.
 
I want to open a small pharmaceutical company that manufactures droperidol and compazine 24/7. No more 'shortages'. Only take a couple mil. Who's in?
 
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I worked with an EM doc who was part owner / medical director for a medical scribe company. He worked like dog at times.

Like any business venture, your limitations are going to be your finances and your willingness to see something through, even when not being paid / it may never pay off.
 
Great thread. I haven't posted in a while, but have been toying with starting a blog and then monetizing it. Looks like WCI has success then why not me? Thoughts?
 
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Great thread. I haven't posted in a while, but have been toying with starting a blog and then monetizing it. Looks like WCI has success then why not me? Thoughts?

I've thought about this for the past couple years as well but have struggled to find a niche that I would like writing about, but would still have a broad audience.

Also, the amount of effort put in by WCI intimidates me.
 
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True, but isn't it like Medical school/residency? front loaded work but reward (readers, buncha thank you emails and ofcourse financial reward in 3-4 yerrs?) I see no difference. Start slow, make regular posts, engage users and see where it goes.

Hey Whitecoat, when did you decide to monetize the blog? did you use user numbers as a confidence booster to start adsensing? also how the heck can one approach sponsors? do the sponsors email you or you after them (chicken or the egg??). You can PM me if you like, would love to hear your thoughts how to get started and build/engage audience: btw, I have 2-3 niches I am thinking and they are all NON-finance (think you got the finance thing pretty well covered on the internets and I don't see any other physician blogger coming close to your success in this niche of yours).

I love WCI blog, the dude is a beast no doubt.

I am a radiologist btw, on shift type of work so I think I can associate with ER physicians in terms of time off to get this going.

Thanks in advance WCI!
 
True, but isn't it like Medical school/residency? front loaded work but reward (readers, buncha thank you emails and ofcourse financial reward in 3-4 yerrs?) I see no difference. Start slow, make regular posts, engage users and see where it goes.

Hey Whitecoat, when did you decide to monetize the blog? did you use user numbers as a confidence booster to start adsensing? also how the heck can one approach sponsors? do the sponsors email you or you after them (chicken or the egg??). You can PM me if you like, would love to hear your thoughts how to get started and build/engage audience: btw, I have 2-3 niches I am thinking and they are all NON-finance (think you got the finance thing pretty well covered on the internets and I don't see any other physician blogger coming close to your success in this niche of yours).

I love WCI blog, the dude is a beast no doubt.

I am a radiologist btw, on shift type of work so I think I can associate with ER physicians in terms of time off to get this going.

Thanks in advance WCI!
@InternationlDoc you have to tag @The White Coat Investor like so for him to be notified of your post. Tagged him for you in this post but i suggest a PM.
 
My only side business takes a large amount of research and effort, is stressful at times, places large amounts of capital at risk on a daily basis, and has a regular, slow upside to stay in the black year after year. As those above have mentioned before, putting a large amount of work up front does pay it forward. That's why I run my investment portfolio as my "side business."
 
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Great thread. I haven't posted in a while, but have been toying with starting a blog and then monetizing it. Looks like WCI has success then why not me? Thoughts?

Indeed, why not you? :) The internet is the wild west and there is plenty of money to be made there. But don't underestimate the effort required. My gross revenues my first year were just under $1K. And I had at least that much in justifiable expenses to deduct.
 
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My only side business takes a large amount of research and effort, is stressful at times, places large amounts of capital at risk on a daily basis, and has a regular, slow upside to stay in the black year after year. As those above have mentioned before, putting a large amount of work up front does pay it forward. That's why I run my investment portfolio as my "side business."

Being your own investment advisor is an incredibly profitable hobby/side business.
 
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I've thought about this for the past couple years as well but have struggled to find a niche that I would like writing about, but would still have a broad audience.

Also, the amount of effort put in by WCI intimidates me.

Not only do you need the right size niche, but it needs to be empty or nearly empty when you get to it. Plus it needs to monetize well. That's a tough combination. Doable though, by the right person.
 
True, but isn't it like Medical school/residency? front loaded work but reward (readers, buncha thank you emails and ofcourse financial reward in 3-4 yerrs?) I see no difference. Start slow, make regular posts, engage users and see where it goes.

Hey Whitecoat, when did you decide to monetize the blog? did you use user numbers as a confidence booster to start adsensing? also how the heck can one approach sponsors? do the sponsors email you or you after them (chicken or the egg??). You can PM me if you like, would love to hear your thoughts how to get started and build/engage audience: btw, I have 2-3 niches I am thinking and they are all NON-finance (think you got the finance thing pretty well covered on the internets and I don't see any other physician blogger coming close to your success in this niche of yours).

I love WCI blog, the dude is a beast no doubt.

I am a radiologist btw, on shift type of work so I think I can associate with ER physicians in terms of time off to get this going.

Thanks in advance WCI!

I monetized the blog from day one. It's always been a business. Adsense was there before anyone else was. I didn't approach sponsors for the most part. They find their way to my door one by one over the years, just like the readers. If you give away something really valuable, a little bit of that value seems to find its way back to you. You just have to be smart enough to hold out your hand, say thank you, and keep working hard!

Interestingly though, my initial plan with that blog was to be making $1000 per month within 2 years. I barely made it. If I hadn't made it, the other plan was to start doing real estate on the side. There are lots of ways to develop a partly passive income. All require some knowledge not taught in med school, a little risk, and a lot of hard work. Emergency docs are in a great position to do this stuff not only because they don't work that many hours, but by virtue of the hours they work, they have a lot of weekday mornings off. I can't believe how much the business world focuses around about 25 hours a week. You've got to get out of this 24/7 mindset we're in. Most of those guys are just really engaged for a few hours a week and that's where all the profit comes from.
 
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Well said Whitecoat. One realization I have had recently is that online businesses (blog, service, any product) has huge upside and limited down side. Investments (or investing interest on the side) is great and necessary but markets have downside risks. I think if one can understand marketing and "getting to people" online, like you obviously have, then your state of the blog post is pretty much self evident of the upside one can achieve.

I'm sold and going head first starting an online service and blog.
 
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