Millionaire Business Connection vs. Medical School

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DavidP

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I am currently a 26 year old pre-med student finishing my last year of undergrad. Assuming everything goes as planned, I should be taking my MCAT next summer and applying to medical school shortly after. Although, I believe I am a solid applicant (3.98 GPA, tons of shadowing, research, and volunteering) there is one issue that has caused me to think twice about medicine. I'm hoping that someone can provide some advice to help me made a decision. But first, a little back story...

A few years ago I was just getting out of the military and decided to take a temporary job with a nearby company. To make a long story short, the owner took a strong liking to me and asked me to stay on as a full time employee. However, I declined to pursue a higher education. He was adamant with his offer, and mentioned that he wanted to help start me in business, but I wasn't interested at the time. I remember the other managers looking at me as if I was crazy.

Anyway, fast forward about a year and I find out that this guy is an extremely successful entrepreneur who sold his first company for around five billion dollars. I wondered if I had made a mistake by declining his offer, but as a hopeful premed I thought that even if I had missed a once in a lifetime opportunity, at least I followed my passion and not money. However, after extensive shadowing and corresponding with a handful of doctors and surgeons, I'm not so sure that's the case anymore. Almost all of the doctors I've spoken to have urged me not to go into medicine, and shadowing has only showed me that most attendings are dissatisfied at best and trapped in a mountain of paperwork.

Recently, out of curiosity, I decided to reach out to the entrepreneur that I used to work for, and surprisingly, he not only remembered me, but also told me that his offer is still on the table. Now, I am at a crossroad. I don't know if I'm just burned out, and should just push through to medical school, or if staying on the path to medicine would be stubborn and I should accept the job offer.

The annoying thing is that I have a genuine interest in both areas, which makes my choice even more difficult. I was a rescue swimmer in the Navy and really enjoyed the paramedic type procedures I got to do. In fact, the reason I left the military was because I wanted to be able to do more and know more. Additionally, I had the opportunity to help save an injured policeman who was being crushed under a car and I have to say, that experience was extraordinary and humbling. On the other side, I find that I am a bit of an entrepreneur myself and have started small businesses since I've been in college and find that to be extremely fulfilling as well.

I think that I would enjoy both professions, but I wonder two things; in terms of medicine, is the juice worth the squeeze, and would it be crazy to turn down this business connection for the second time?
 
A business “connection” is no garauntee for future success. A bunch of companies never succeed despite having millionaires as investors, advisors, and even on their boards. If you want to be an entrepreneur instead of going into Medicine, then go be an entrepreneur. But don’t become one just because some millionaire says he wants to help you.
 
If you do decide to try your hand at business, just remember that medical schools aren't going anywhere. Keep volunteering on the side to keep your interest in medicine alive in case things fall through. This will also help provide continuity if you do choose to apply to medicine later on. Medicine is not a bad field, you just need to know what you're getting into, and understand that healthcare in 20-30 years will likely be very different than it is today (for better or for worse).
 
Conventional wisdom is: only do medicine if it is the ONLY thing that would make you happy.

If whatever the billionaire wants you to do would make you happy, I say try that and then go from there. Medical school isn’t going anywhere, and having business experience might make for an interesting application.

That said, with your GPA I’m assuming you can nail the MCAT and do great in medical school if that’s what you choose.... but be warned: medical school is long and grueling, and if you can sidestep that + be making money instead of spending it in your 20s, that may be a better quality of life path for you to take.


Only you can decide if being a physician is the only thing that would make you happy!

Source: owned a small business and am now an M2
 
I am currently a 26 year old pre-med student finishing my last year of undergrad. Assuming everything goes as planned, I should be taking my MCAT next summer and applying to medical school shortly after. Although, I believe I am a solid applicant (3.98 GPA, tons of shadowing, research, and volunteering) there is one issue that has caused me to think twice about medicine. I'm hoping that someone can provide some advice to help me made a decision. But first, a little back story...

A few years ago I was just getting out of the military and decided to take a temporary job with a nearby company. To make a long story short, the owner took a strong liking to me and asked me to stay on as a full time employee. However, I declined to pursue a higher education. He was adamant with his offer, and mentioned that he wanted to help start me in business, but I wasn't interested at the time. I remember the other managers looking at me as if I was crazy.

Anyway, fast forward about a year and I find out that this guy is an extremely successful entrepreneur who sold his first company for around five billion dollars. I wondered if I had made a mistake by declining his offer, but as a hopeful premed I thought that even if I had missed a once in a lifetime opportunity, at least I followed my passion and not money. However, after extensive shadowing and corresponding with a handful of doctors and surgeons, I'm not so sure that's the case anymore. Almost all of the doctors I've spoken to have urged me not to go into medicine, and shadowing has only showed me that most attendings are dissatisfied at best and trapped in a mountain of paperwork.

Recently, out of curiosity, I decided to reach out to the entrepreneur that I used to work for, and surprisingly, he not only remembered me, but also told me that his offer is still on the table. Now, I am at a crossroad. I don't know if I'm just burned out, and should just push through to medical school, or if staying on the path to medicine would be stubborn and I should accept the job offer.

The annoying thing is that I have a genuine interest in both areas, which makes my choice even more difficult. I was a rescue swimmer in the Navy and really enjoyed the paramedic type procedures I got to do. In fact, the reason I left the military was because I wanted to be able to do more and know more. Additionally, I had the opportunity to help save an injured policeman who was being crushed under a car and I have to say, that experience was extraordinary and humbling. On the other side, I find that I am a bit of an entrepreneur myself and have started small businesses since I've been in college and find that to be extremely fulfilling as well.

I think that I would enjoy both professions, but I wonder two things; in terms of medicine, is the juice worth the squeeze, and would it be crazy to turn down this business connection for the second time?

Take this very seriously: Business people are heartless sharks and chances are very good that he’s a ****bag who is lying through his teeth. Go to medical school and don’t look back.

If you’re really interested in giving it a go name your price — make it high (so the loss of future physician earnings is included) — and if he’s not willing to sign a multi-year contract walk the f away.

If you’re considering ANY contract get a lawyer that YOU are paying to review it and advocate on your behalf.


I really cannot stress this enough. DO NOT trust this person.
 
Take this very seriously: Business people are heartless sharks and chances are very good that he’s a ****bag who is lying through his teeth. Go to medical school and don’t look back.

If you’re really interested in giving it a go name your price — make it high (so the loss of future physician earnings is included) — and if he’s not willing to sign a multi-year contract walk the f away.

If you’re considering ANY contract get a lawyer that YOU are paying to review it and advocate on your behalf.


I really cannot stress this enough. DO NOT trust this person.
Unless you know this business person, this is a very broad generalization of an entire profession. There are good and sh*try people in every profession -- medicine included.
 
A business “connection” is no garauntee for future success. A bunch of companies never succeed despite having millionaires as investors, advisors, and even on their boards. If you want to be an entrepreneur instead of going into Medicine, then go be an entrepreneur. But don’t become one just because some millionaire says he wants to help you.


If you do decide to try your hand at business, just remember that medical schools aren't going anywhere. Keep volunteering on the side to keep your interest in medicine alive in case things fall through. This will also help provide continuity if you do choose to apply to medicine later on. Medicine is not a bad field, you just need to know what you're getting into, and understand that healthcare in 20-30 years will likely be very different than it is today (for better or for worse).

Thank you for your reply. I think big part of my apprehension is how discouraging my shadowing has been, and, at the same time, the warnings I've gotten to not become a doctor. Have you experienced any of this yourself?
 
Conventional wisdom is: only do medicine if it is the ONLY thing that would make you happy.

If whatever the billionaire wants you to do would make you happy, I say try that and then go from there. Medical school isn’t going anywhere, and having business experience might make for an interesting application.

That said, with your GPA I’m assuming you can nail the MCAT and do great in medical school if that’s what you choose.... but be warned: medical school is long and grueling, and if you can sidestep that + be making money instead of spending it in your 20s, that may be a better quality of life path for you to take.


Only you can decide if being a physician is the only thing that would make you happy!

Source: owned a small business and am now an M2


Thanks for the advice.
Take this very seriously: Business people are heartless sharks and chances are very good that he’s a ****bag who is lying through his teeth. Go to medical school and don’t look back.

If you’re really interested in giving it a go name your price — make it high (so the loss of future physician earnings is included) — and if he’s not willing to sign a multi-year contract walk the f away.

If you’re considering ANY contract get a lawyer that YOU are paying to review it and advocate on your behalf.


I really cannot stress this enough. DO NOT trust this person.


Who hurt you?

Seriously though, I totally get what you are saying. It seems exciting, but risky to put my trust in this guy.
 
If I were you I would totally pursue this opportunity (mostly because I'm not as hardcore into medicine like others are). As Moko said, medical schools aren't going anywhere.
 
Who hurt you?

Seriously though, I totally get what you are saying. It seems exciting, but risky to put my trust in this guy.

Haha no one, I’ve always been on the medicine path - my family is in finance and this set off the alarm bells of every horror story they’ve shared over the dinner table & from friends who are trying to break into that world. Just be careful...

Just seriously consider your opportunity cost & make sure you’re being compensated by contract for whatever risk you’re taking on. Keep your eye on the reality that you’d be walking away from a (starting) $300k guaranteed annual income after medical school
 
Haha no one, I’ve always been on the medicine path - my family is in finance and this set off the alarm bells of every horror story they’ve shared over the dinner table & from friends who are trying to break into that world. Just be careful...

Just seriously consider your opportunity cost & make sure you’re being compensated by contract for whatever risk you’re taking on. Keep your eye on the reality that you’d be walking away from a (starting) $300k guaranteed annual income after medical school


A contract seems like a smart idea if I do decide to take that opportunity. Right now he is offering a position to manage several of his warehouses between Florida, Japan, and Europe. After I expressed concern about trading a medical career for a potentially less lucrative job, he ensured me that some a couple of his employees that started working for him 15 years ago are now CEO's of some of his other companies. Maybe its just castles in the sky. Regardless, thanks for the help.
 
Thank you for your reply. I think big part of my apprehension is how discouraging my shadowing has been, and, at the same time, the warnings I've gotten to not become a doctor. Have you experienced any of this yourself?
Have you been primarily shadowing community physicians or those in academic settings? Usually those in academia tend to be happier. I would start there if you haven't already. Most of the people I've been in contact with have genuinely enjoyed practicing medicine, so I am blessed in that regard. My views are heavily biased by being at (and only having been at) academic centers. YMMV
 
A contract seems like a smart idea if I do decide to take that opportunity. Right now he is offering a position to manage several of his warehouses between Florida, Japan, and Europe. After I expressed concern about trading a medical career for a potentially less lucrative job, he ensured me that some a couple of his employees that started working for him 15 years ago are now CEO's of some of his other companies. Maybe its just castles in the sky. Regardless, thanks for the help.

And what have their earnings been over those 15 years? What's their salary now?

Until you've nailed down basics like starting salary, you don't really know what you're being offered.
 
Warehouses.... reminds me of my neighbor who suddenly traveled overseas on very short notice only to taken in to custody at a border checkpoint to serve several years in the federal pen. He had warehouses that provided a cover for bank fraud. Do your due diligience before getting in too deep with anyone who promises you the moon.
 
I’ve been thinking about your situation... a quick and easy way to get to the bottom of if this is a legitimate opportunity is to ask him for the names & contact info of some of these 15 CEO’s so you can reach out to for a reference for this guy. If he can/does provide them get in touch and see what they have to say & ask specifically about the role of this individual in their professional advancement.

Pay attention to how he responds to this reasonable request, it’ll be telling on how trustworthy / legit this guy is @DavidP
 
I’ve been thinking about your situation... a quick and easy way to get to the bottom of if this is a legitimate opportunity is to ask him for the names & contact info of some of these 15 CEO’s so you can reach out to for a reference for this guy. If he can/does provide them get in touch and see what they have to say & ask specifically about the role of this individual in their professional advancement.

Pay attention to how he responds to this reasonable request, it’ll be telling on how trustworthy / legit this guy is @DavidP


That's pretty clever. I'll be sure to do just that. Thanks again for all the advice. I'll let you know if this guy turns out to be the real deal or not.
 
Ever watch Shark Tank? Those people have way more money than they can ever spend. It's all about the Game for them. He wants to make money off of you and your startup. If successful, both of you win. Most successful businessmen have several failures befor hitting a winner. Be sure you are prepared for failure. He may use you to minimize his risk and maximize his return. I always say, if you have to think about going to med school.....think of doing something else. Good luck and best wishes.
 
I am currently a 26 year old pre-med student finishing my last year of undergrad. Assuming everything goes as planned, I should be taking my MCAT next summer and applying to medical school shortly after. Although, I believe I am a solid applicant (3.98 GPA, tons of shadowing, research, and volunteering) there is one issue that has caused me to think twice about medicine. I'm hoping that someone can provide some advice to help me made a decision. But first, a little back story...

A few years ago I was just getting out of the military and decided to take a temporary job with a nearby company. To make a long story short, the owner took a strong liking to me and asked me to stay on as a full time employee. However, I declined to pursue a higher education. He was adamant with his offer, and mentioned that he wanted to help start me in business, but I wasn't interested at the time. I remember the other managers looking at me as if I was crazy.

Anyway, fast forward about a year and I find out that this guy is an extremely successful entrepreneur who sold his first company for around five billion dollars. I wondered if I had made a mistake by declining his offer, but as a hopeful premed I thought that even if I had missed a once in a lifetime opportunity, at least I followed my passion and not money. However, after extensive shadowing and corresponding with a handful of doctors and surgeons, I'm not so sure that's the case anymore. Almost all of the doctors I've spoken to have urged me not to go into medicine, and shadowing has only showed me that most attendings are dissatisfied at best and trapped in a mountain of paperwork.

Recently, out of curiosity, I decided to reach out to the entrepreneur that I used to work for, and surprisingly, he not only remembered me, but also told me that his offer is still on the table. Now, I am at a crossroad. I don't know if I'm just burned out, and should just push through to medical school, or if staying on the path to medicine would be stubborn and I should accept the job offer.

The annoying thing is that I have a genuine interest in both areas, which makes my choice even more difficult. I was a rescue swimmer in the Navy and really enjoyed the paramedic type procedures I got to do. In fact, the reason I left the military was because I wanted to be able to do more and know more. Additionally, I had the opportunity to help save an injured policeman who was being crushed under a car and I have to say, that experience was extraordinary and humbling. On the other side, I find that I am a bit of an entrepreneur myself and have started small businesses since I've been in college and find that to be extremely fulfilling as well.

I think that I would enjoy both professions, but I wonder two things; in terms of medicine, is the juice worth the squeeze, and would it be crazy to turn down this business connection for the second time?
I am currently a 26 year old pre-med student finishing my last year of undergrad. Assuming everything goes as planned, I should be taking my MCAT next summer and applying to medical school shortly after. Although, I believe I am a solid applicant (3.98 GPA, tons of shadowing, research, and volunteering) there is one issue that has caused me to think twice about medicine. I'm hoping that someone can provide some advice to help me made a decision. But first, a little back story...

A few years ago I was just getting out of the military and decided to take a temporary job with a nearby company. To make a long story short, the owner took a strong liking to me and asked me to stay on as a full time employee. However, I declined to pursue a higher education. He was adamant with his offer, and mentioned that he wanted to help start me in business, but I wasn't interested at the time. I remember the other managers looking at me as if I was crazy.

Anyway, fast forward about a year and I find out that this guy is an extremely successful entrepreneur who sold his first company for around five billion dollars. I wondered if I had made a mistake by declining his offer, but as a hopeful premed I thought that even if I had missed a once in a lifetime opportunity, at least I followed my passion and not money. However, after extensive shadowing and corresponding with a handful of doctors and surgeons, I'm not so sure that's the case anymore. Almost all of the doctors I've spoken to have urged me not to go into medicine, and shadowing has only showed me that most attendings are dissatisfied at best and trapped in a mountain of paperwork.

Recently, out of curiosity, I decided to reach out to the entrepreneur that I used to work for, and surprisingly, he not only remembered me, but also told me that his offer is still on the table. Now, I am at a crossroad. I don't know if I'm just burned out, and should just push through to medical school, or if staying on the path to medicine would be stubborn and I should accept the job offer.

The annoying thing is that I have a genuine interest in both areas, which makes my choice even more difficult. I was a rescue swimmer in the Navy and really enjoyed the paramedic type procedures I got to do. In fact, the reason I left the military was because I wanted to be able to do more and know more. Additionally, I had the opportunity to help save an injured policeman who was being crushed under a car and I have to say, that experience was extraordinary and humbling. On the other side, I find that I am a bit of an entrepreneur myself and have started small businesses since I've been in college and find that to be extremely fulfilling as well.

I think that I would enjoy both professions, but I wonder two things; in terms of medicine, is the juice worth the squeeze, and would it be crazy to turn down this business connection for the second time?
To evaluate the seriousness of this offer, I would like more information. I’ve seen successful people compliment people they like and genuinely believe they would like to help them. However, I have also seen the dynamic change when material sums of money are involved. At that point, they begin to scrutinize the opportunity rationally and look out for themselves. Did you present the entrepreneur with a realistic business plan that he or his team evaluated? If so, did you also shop your plan with other VCs? If what you are talking about is more of a generalized comment that he would like to help and work with you, I would be flattered and take him seriously, but I would have a more serious conversation with him about what that means. If he offers you an opportunity/salary that seems worth delaying medical school, I would go with it. If he offers you more compliments, but nothing concrete, I would go to medical school.
 
Regarding your reservations about medicine vis-à-vis your shadowing experiences- some/many older docs compare the present to “the old days”, when they had 1) unbelievable compensation 2) complete autonomy with little oversight 3) more respect/status compared to the present day?
As they say, it’s all about expectations. Do you think Britain/Europe is full of terrible and unhappy docs because they don’t make x hundred thousand dollars a year? Don’t think so. Not why they went into it. Medicine will always be an incredibly interesting and rewarding career for those who choose it for the right reasons. Downsides? Sure. As others have said, if you are torn between medicine and something else, do the other thing.

I came to follow this forum through my daughter, who will start med school in a week. I have so much respect for all of you aspiring physicians!

I am an anesthesiologist, and do a fair amount of pediatrics. The day to day is mostly stuff I’ve done a million times before, but occasionally while at work I will step back and think- that couple just met me, they handed me their baby, and trust me to care for them- how incredible and moving and meaningful is that? Try and get that experience as a stockbroker...
 
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