Calling out people who quit Engineering, Law, Finance or Medicine (ELFM)

[Amogh Sahai]

Hello guys,

This is my 2nd post in the forums. As I already mentioned in my earlier post, I am a board certified physician looking to transition out of medicine. I make 6 figures in my current practice, but I have realized that medicine is not my calling. It also doesn't follow the 5 commandments that MJ mentions in his book.

Anyway, the reason I am posting in this thread is to get some feedback and data points from people who have already made the transition or are in the process. I am particularly interested in the ELFM fields. How did you leverage the knowledge you acquired in your respective field to open up your own gig offering a unique product or service. It is definitely much easier and less saturated to fill up needs, and bring solutions to things within our fields of expertise.

I personally will be doing a 1 week intensive entrepreneurial boot camp next month. I have already read the lean startup, the fast lane millionaire, entrepreneur revolution, the 100 dollar startup, and the entrepreneur's guide to customer development.

I personally feel more inclined in pursuing a business around a product instead of a service. Once I finish the bootcamp, I will be looking to properly validate whatever business concept I come up with. The problem with many of these books is that theory can be so different to practice. I guess the most important thing I want to get out of this is how to execute properly. MJ speaks about how some people talk a lot but don't take action. However, taking the wrong kind of action (spending money on a product or service not properly validated) can also cause problems.

I will be selling a property very soon and I am hoping to use part of that money to build a good solid foundation for my next endeavor. I am really looking to have an open discussion here, and not trying to take value without giving anything in return. So if you guys have any medical questions that fall within my field of expertise (physical medicine and rehab) feel free to send me a private message or ask me here.

 

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[Paladin]

It sounds like you keep seeking more information before you take any action. Whether it's reading books, attending some bootcamp, or asking people on here what to do.

You're caught in Paralysis by Analysis. A good decision now is WAY better than a great decision too late.

You don't need other people to give you business ideas. There are about a million medical products and courses online. There are supplements and devices and exercise machines.

There's nothing holding you back from action other than losing money. So start a business LEAN.

You don't need to spend big money to kickstart your new career. It's not the middle ages. I started my business with just $500. So get out of that 1980s Wall Street "spend money to make money and I need an inside tip" mindset.

Just take any action and see what happens.

You can't learn to swim from reading a book, you need to get into the water.

 

[Amogh Sahai]

It sounds like you keep seeking more information before you take any action. Whether it's reading books, attending some bootcamp, or asking people on here what to do.

You're caught in Paralysis by Analysis. A good decision now is WAY better than a great decision too late.

You don't need other people to give you business ideas. There are about a million medical products and courses online. There are supplements and devices and exercise machines.

There's nothing holding you back from action other than losing money. So start a business LEAN.

You don't need to spend big money to kickstart your new career. It's not the middle ages. I started my business with just $500. So get out of that 1980s Wall Street "spend money to make money and I need an inside tip" mindset.

Just take any action and see what happens.

You can't learn to swim from reading a book, you need to get into the water.

I am not looking for business ideas. That will be my own assignment. I just want to understand better the process of how they went from point A to point B. They can decide what information they want to share or not share. But your point is well taken.