Saturday Morning Rounds
A weekly round-up of career & negotiation content for women physicians
What got our attention
We don't often highlight long-form content like podcasts on here, because we know how busy y'all are. That being said - this podcast, and especially certain sections of it - is spectacular, timely, and worth a listen.
If you're not familiar with Scott Galloway, he's one of the clearest, most prescient thinkers in the business world today. But this podcast isn't just about business (and neither is the book he's doing this podcast to promote - Post Corona - which we've not yet read) - it's about how culture and values affect pandemic response, it's about how to approach this crazy topsy-turvy investment market that's completely divorced from the economy, and most of all it's about the rapid seismic changes that are coming to medicine and higher ed in the next handful of years.
You might not be equally interested in all of that, so here's a timeline of the podcast w/topic breakdown (we listened on Spotify so your timestamps might be different depending on how you listen, but they should approximate):
Who we're following
Scott Galloway (@profgalloway) isn't just a great professor, author, and thinker - he's also a damn good Tweeter. If you want one of the best pound-for-pound (maybe character-for-character is the Twitter equivalent?) follows to get a high quality, nuance, long-term perspective on business and society, he's your guy.
BBMD tip of the week
Like most economic upheavals - and especially the modern, technology-enhanced ones - the next few years will likely create a small number of parabolic/exponential "win" stories, and a much larger number of linear, go-to-zero "loss" stories.
Every single thing we do at this company is aimed at helping you - yeah, you personally reading this right now - to first and foremost avoid losing, and ideally to end up on the winning side of things.
And the harsh reality facing us as healthcare workers - and many of us doubly as healthcare and higher ed workers - is that our institutions are about to come under a siege that a plurality of them will not survive.
The only logical response to that reality is to make sure that you're not 100% reliant on your institution.
And it just so happens that we have some thoughts on how to achieve exactly that.
First off, a CYA statement - we are not investment advisors and none of this is investment advice.
Okay, now that that's out of the way, if we - and Scott Galloway - are right, then there are three main strategies that will likely work well this decade:
Strategies 2 & 3, when combined, are called barbell investing - and you'll learn more googling and youtubing that term than we can probably teach you effectively (we do have some hot takes on which sectors will go parabolic, but they're conjecture and a distraction from this conversation, so feel free to reply to this email if you really wanna hear 'em and we'll be happy to share 1:1).
Strategy 1, however, happens to be one of our personal areas of expertise, and it also happens to be about the only opportunity you have of creating your own parabolic growth, rather than hoping for a slice of someone else's.
We've already written on this topic previously over the course of a few weeks, so we'll condense that down here for you to walk through, should you so choose:
FIRST STEP - BRAINSTORM
Set a time for 2.5min brainstorm 10 ideas for side-hustles.
...you really shouldn't read ahead before you've done this, we promise...
We start with this because it gets the creative juices flowing and encourages divergent, "outside-the-box" creative thinking, which is your friend at this stage of the process.
SECOND STEP - NARROW
Give each one of those ideas its own 0-10 scores in the following 3 categories:
Now, calculate the blended average for each idea and re-order the list based on that score, highest to lowest.
FINAL STEP - CHOOSE
Now we're gonna transition out of our heads and into our guts, away from our numbers and toward our intuition, and most importantly out of our own experience and into that of our potential customers (all businesses have a customer, after all).
And now you've got a better start than most successful businesses out in the world today even had!
There's a lot more to this entrepreneurship/side-hustle/multiple-revenue-stream game than we could fit into even months' worth of newsletters, and we don't wanna bore you if this isn't up your alley. So, if you ARE interested in learning more about the topic (or are stoked about one of your ideas and want to share it with someone/get some feedback), please reply to this email to let us know!
Quote we're contemplating
PS - If you were forwarded this email and enjoyed it, subscribe here to make sure you don't miss out on future ones!
PPS - As always, please let us know your requests and suggestions by replying to this email (we read 'em all) or getting at us via Twitter. Which section above is your favorite? What do you want more or less of? Just send a tweet to @BossB_MD and put #SaturdayMorningRounds in there so we can find it.
Have a wonderful weekend, y'all!