Few ideas, which to pursue?

[Dirtymaco]

So currently I am in a bit of a rut.

Like I have written in my introduction im currently working as a family medicine doctor resident.
My goal is to establish a non-invasive aesthetic clinic. Currently im doing everything I can to learn a lot and am working on getting clients, I am working on my friends, family, acquaintances etc, but cannot market it since I cannot legally open a private praxis for non invasive aesthetics for the next 3 years... SO what do I do in the 3 years (unless the law magically change).

I have currently few options:
1. establish my "aesthetic practice" or "med spa" minus the procedures I cannot legally perform so I go all in to lasers, depilation, cosmetics, skincare... and than just add botulinum and HA fillers
OR
2. pursue one of many other ideas I have and kind of already started working on
2a. - blog/learning website for strength, conditioning and nutrition from doctors point of view to maximize health benefits (am licensed nutritionist, MD and working on my PhD so "know-how" is there)
2b. - create a non-med relate business like diapers - subscription... there is around 20.000 newborns in my country per annum and no subscription based provider... so only getting 5% of market is like 1000 subscribers with 20% margin at around 60$/months thats a-lot of dough... (6figures in profit)
2c. - there are next to zero bespoke (measure to fit) suit store for men in my country... so doing that would probably works well...

Pros of 1.
- it will establish my business for later, its lower price buy in for potential buyers or clients and it would be easier to introduce costly procedures as botulinum toxin and HA fillers etc.

Cons of 1.
- medium investment
- until I can legally do my "main" procedures I will always have the feeling of not living up to my ful potential, also am afraid it would come out as just another "cosmetic practice".
- need to hire a cosmetic technician

Pros of 2a.
- already has enormous know how, lots of content
- can complement my "day job" as family doctor
- next to zero investment

Cons of 2a.
- "fitness" and "lifestyle" market is saturated AF and people cant tell the difference between a weekend certificate and PhD
- I cannot really think of a way to scale?
- i suffer from "imposter syndrome" and doesn't want my colleagues to think im doing i dunno what...

Pros of 2b, 2c.
- its not medical related, I think its easiest to scale especially diapers thing, if I fail it doesn't matter on my "day job"

Cons of 2b, 2c.
- medium investment few thousand bucks, lots of logistics etc.


Conclusion:
Typing this it occurred to me that when it comes to health and medical related business I am afraid to fail since being a doctor and PhD holds a certain standard... which is stupid I know...

I dont know what to do with myself for the next 3 years.

The following comes to mind:

“Priorities Are Like Arms; If You Think You Have More Than A Couple, You’re Either Lying Or Crazy.”​

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Ali Abbasi]

So currently I am in a bit of a rut.

Like I have written in my introduction im currently working as a family medicine doctor resident.
My goal is to establish a non-invasive aesthetic clinic. Currently im doing everything I can to learn a lot and am working on getting clients, I am working on my friends, family, acquaintances etc, but cannot market it since I cannot legally open a private praxis for non invasive aesthetics for the next 3 years... SO what do I do in the 3 years (unless the law magically change).

I have currently few options:
1. establish my "aesthetic practice" or "med spa" minus the procedures I cannot legally perform so I go all in to lasers, depilation, cosmetics, skincare... and than just add botulinum and HA fillers
OR
2. pursue one of many other ideas I have and kind of already started working on
2a. - blog/learning website for strength, conditioning and nutrition from doctors point of view to maximize health benefits (am licensed nutritionist, MD and working on my PhD so "know-how" is there)
2b. - create a non-med relate business like diapers - subscription... there is around 20.000 newborns in my country per annum and no subscription based provider... so only getting 5% of market is like 1000 subscribers with 20% margin at around 60$/months thats a-lot of dough... (6figures in profit)
2c. - there are next to zero bespoke (measure to fit) suit store for men in my country... so doing that would probably works well...

Pros of 1.
- it will establish my business for later, its lower price buy in for potential buyers or clients and it would be easier to introduce costly procedures as botulinum toxin and HA fillers etc.

Cons of 1.
- medium investment
- until I can legally do my "main" procedures I will always have the feeling of not living up to my ful potential, also am afraid it would come out as just another "cosmetic practice".
- need to hire a cosmetic technician

Pros of 2a.
- already has enormous know how, lots of content
- can complement my "day job" as family doctor
- next to zero investment

Cons of 2a.
- "fitness" and "lifestyle" market is saturated AF and people cant tell the difference between a weekend certificate and PhD
- I cannot really think of a way to scale?
- i suffer from "imposter syndrome" and doesn't want my colleagues to think im doing i dunno what...

Pros of 2b, 2c.
- its not medical related, I think its easiest to scale especially diapers thing, if I fail it doesn't matter on my "day job"

Cons of 2b, 2c.
- medium investment few thousand bucks, lots of logistics etc.


Conclusion:
Typing this it occurred to me that when it comes to health and medical related business I am afraid to fail since being a doctor and PhD holds a certain standard... which is stupid I know...

I dont know what to do with myself for the next 3 years.

The following comes to mind:

“Priorities Are Like Arms; If You Think You Have More Than A Couple, You’re Either Lying Or Crazy.”​

I would stick with option 1

 

[MJ DeMarco]

My goal is to establish a non-invasive aesthetic clinic.

Which of the options gets you closer to this?

That is your answer.

 

[edgonic]

So currently I am in a bit of a rut.

Like I have written in my introduction im currently working as a family medicine doctor resident.
My goal is to establish a non-invasive aesthetic clinic. Currently im doing everything I can to learn a lot and am working on getting clients, I am working on my friends, family, acquaintances etc, but cannot market it since I cannot legally open a private praxis for non invasive aesthetics for the next 3 years... SO what do I do in the 3 years (unless the law magically change).

I have currently few options:
1. establish my "aesthetic practice" or "med spa" minus the procedures I cannot legally perform so I go all in to lasers, depilation, cosmetics, skincare... and than just add botulinum and HA fillers
OR
2. pursue one of many other ideas I have and kind of already started working on
2a. - blog/learning website for strength, conditioning and nutrition from doctors point of view to maximize health benefits (am licensed nutritionist, MD and working on my PhD so "know-how" is there)
2b. - create a non-med relate business like diapers - subscription... there is around 20.000 newborns in my country per annum and no subscription based provider... so only getting 5% of market is like 1000 subscribers with 20% margin at around 60$/months thats a-lot of dough... (6figures in profit)
2c. - there are next to zero bespoke (measure to fit) suit store for men in my country... so doing that would probably works well...

Pros of 1.
- it will establish my business for later, its lower price buy in for potential buyers or clients and it would be easier to introduce costly procedures as botulinum toxin and HA fillers etc.

Cons of 1.
- medium investment
- until I can legally do my "main" procedures I will always have the feeling of not living up to my ful potential, also am afraid it would come out as just another "cosmetic practice".
- need to hire a cosmetic technician

Pros of 2a.
- already has enormous know how, lots of content
- can complement my "day job" as family doctor
- next to zero investment

Cons of 2a.
- "fitness" and "lifestyle" market is saturated AF and people cant tell the difference between a weekend certificate and PhD
- I cannot really think of a way to scale?
- i suffer from "imposter syndrome" and doesn't want my colleagues to think im doing i dunno what...

Pros of 2b, 2c.
- its not medical related, I think its easiest to scale especially diapers thing, if I fail it doesn't matter on my "day job"

Cons of 2b, 2c.
- medium investment few thousand bucks, lots of logistics etc.


Conclusion:
Typing this it occurred to me that when it comes to health and medical related business I am afraid to fail since being a doctor and PhD holds a certain standard... which is stupid I know...

I dont know what to do with myself for the next 3 years.

The following comes to mind:

“Priorities Are Like Arms; If You Think You Have More Than A Couple, You’re Either Lying Or Crazy.”​

DirtyMaco,

The one thing I would advise is to also look at what options can provide you with competitive barriers. One great thing you have going for you is being a doctor. If you think about it, anything that requires a medical license or physician oversight in some manner already knocks out a large number of competitors. The state medical board already takes care of a lot of the competition. Plus, you said you had a goal of having an aesthetic clinic which would align to a large extent with having those competitive barriers. So, nobody can tell you what is really best for you, but based on what you are saying anything that requires a medical license and gets you closer to the aesthetics clinic would probably suit you well. Also, you can build an HR system around it by eventually leveraging other physicians and advanced practice providers.

Take care - I love healthcare. I have been in health care IT for the last 16 years.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Dirtymaco]

Thanks all for insights.

UPDATE:
I was tired of faking action so I had to start SOMETHING. Working in hospitals and care centres I figured we all wear the same clothes and shoes... One thing that is different are obviously undergarments and socks. I designed 3 different designs, made a shopify page and shared it with some friends. Already got a few preorders and am currently waiting for stock to arrive.

Why am I writing this. It is THE BEST feeling of all to wake up and see you sold SOMETHING even as low as 20$, WHILE SLEEPING!

Next step is to start marketing aggressively once the stock arrives and make this business run on more or less autopilot.

SO NEXT STEP is to figure out what to do with my goal of aesthetic clinic... procedures I am legally not yet allowed to perform are the ones with highest ROI and lowest investment.

I have some research to do into different modalities that are "grey zone" legal-wise...

Ill let u know how thing play out!

 

[Kid]

I underestimated your ability to take action.
Its good to be wrong sometimes!

I remember one fastlaner had a business
selling needles to some other businesses
(i hope that i'm not messing facts up).

So, since you know what hospitals
or other health centers need you
can consider importing it and selling
to those facilities in bulk and repetitively.

Ok, that's all from me for now. Keep it up.

 

[Dirtymaco]

Next step is to start marketing aggressively once the stock arrives and make this business run on more or less autopilot.

SO NEXT STEP is to figure out what to do with my goal of aesthetic clinic... procedures I am legally not yet allowed to perform are the ones with highest ROI and lowest investment.

I have some research to do into different modalities that are "grey zone" legal-wise...

Ill let u know how thing play out!

UPDATE #2
I understand the power of PRODUCTOCRACY. I experienced it on my own skin. Sadly in the bad way

Like I previously said

Next step is to start marketing aggressively once the stock arrives and make this business run on more or less autopilot.

When I did just that the sales were coming in slowly, making roughly 100 bucks a day. Which doesn't sound bad, but it took me hours to market, hours for fulfillments and the margins were to low...

There were always "new" costumers, but there was literally NONE reoccurring costumer! NONE as in ZERO unless u count my dad who did order twice one package for him and one for mom... meaning the product was SHIT.

That being said all the time I was "losing" hours on PUSHING the product that just was not good enough, people were PULLING me for my services that were aesthetic medicine related.

I had a limiting believe that trading time for money is just not gonna cut it... and its true in the long run. But at this stage I probably shouldn't pursue e-comm just cause its easier to SCALE if im making zero money... while on other hand I could literally make 4 figures in the matters of 1h but at this moment without ability to scale.

So I did the following:
- sold out the stock and at the end all costs included (other than my time) I ended on + few hundreds $$ total profit, but I experienced problems, I solved lots of them, I felt the feeling of John Doe from other side of the country ordering YOUR item and $$ appearing on your bank account etc.

- expanded on medical services I can provide and patient are PULLING me to provide (without cold calls, email marketing, catchy FB/IG ads etc.)

- keep my eyes on future endeavours complimenting my practice WHILE being a productocracy

Learning points:
1. all things aside, shitty product wont sell twice.
2. dont sell 5$ products unless you plan on selling millions of them
3. manufacturers are people and people cut shortcuts
4. establish 5 figures yearly income, than worry about potential to scale


Thats it from me. Any tips, trick and comments are more than welcome!

The world still provides millions of unsolved problems for me to solve.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.