Contentment is a scary word. Contentment is what happens when you stop progressing and decide to “settle down” in your career. That is fine if your goal is a mediocre salary that rarely increases, a 401k, and to retire when you are 65, but for those that desire financial independence and to live a life on their own terms, that is just not going to work. When you stop progressing in your knowledge and ambitions, you begin to regress. You start falling behind your competition, the fresh blood entering the market, and advancing technology. This will prevent you from moving forward and from accomplishing your goals and dreams.
You have three routes as a nurse practitioner:
- Work a standard W2 job and continue the never-ending rat race with hopes that you will retire when you are 65.
- Become an entrepreneur and build a life of financial independence where you could possibly be done in 10-15 years.
- A combination of both (The Elite Nurse Practitioner Model).
Regardless of the route you choose, if you are not progressing in your knowledge, staying up to date with technology and the newest medical advancements, investing and saving consistently, and working on fine tuning current projects or working on new ones, you will regress…
You will fall behind.
You will flat line
You will begin to make less and become more financially strapped as the years go on.
Do you want any of those? If not, continue reading.
Everyone has seen the individual who is approaching 60 years old, has very little savings/investments, is strapped with debt, and provides little value to a new employer or the world because of antiquated knowledge/skills.
Everyone has also seen the individual who is approaching 60 years old that is absolutely killing it in life. This is the person who has been retired for 5-10 years, has an enormous amount of savings and investments, and potentially even has a business that runs itself. This person provides enormous value to the world.
Which one do you want? I think that answer is pretty obvious. The only way you will achieve the life of the successful individual is to always be progressing.
NEVER STOP LEARNING.
NEVER STOP BUILDING NEW THINGS.
NEVER SETTLE DOWN.
I mean this 100%.
What if I just settled down with my Men’s Health Clinic? Let’s say I stopped developing new service lines. I stopped having special promotions. I stopped learning new trends in men’s health. I just showed up, saw patients, and stopped WORKING ON my business? I would regress. My business would not grow. Eventually, it could fail.
I am aggressively moving forward with my Men’s Health Clinic. I opened my second location in October 2020. It is slowly picking up steam during a national pandemic. It is slower than I would like, but it is what it is. I am progressing. I am moving forward vs. just settling in.
I recently started implementing multiple other services into the practice as well including weight loss therapies. I am progressing.
Within my entrepreneurial life, I continue to build The Elite Nurse Practitioner by offering more and more courses, discount labs, physician collaboration, and soon to come a marketing service for nurse practitioner entrepreneurs and even a private mastermind/subscription group with mentorship opportunities. I am progressing.
I recently just looked at a 400SqFt space at a high-end beauty salon. I am planning on offering weight loss services, IV hydration, peptide therapies, and possibly even aesthetics. Recreational cannabis is on the horizon in my state. I know this will decrease my Medical Cannabis Clinics revenue by at least 20-40%. I am planning ahead. I am creating a contingency plan. I am progressing. If I was just content and not moving forward, then I would find myself in a pickle in terms of cash flow when recreational cannabis happens (medical cannabis is still great side money in recreational states by the way, but it will slow down).
The point of this article is to hammer into your head the importance of continuing your education and to never settle down until you have reached a point of considerable savings, investments, and financial independence. You cannot afford to become content and to stop moving forward if your goal is freedom.
Any nurse practitioner out there reading this who wants to be in the top 10-20% of nurse practitioners financially (The Elite NPs) must come to peace with the fact that you cannot stop progressing… As soon as you do, you will find your revenue, cash flow, and savings begin to dwindle. You will regress and this will do nothing but add YEARS to your working life.
If you are working on paying off your debts, you are progressing. The minute you take on an unnecessary debt though, you stop moving forward… You have regressed in your goal of being debt free.
If you are aggressively saving your money and investing, you are progressing. As soon as you take a “break” from that, you stop moving forward. You have regressed and that magic number required to become financially independent has just become further and further away to attain.
If you are building your first practice, you are progressing. If you hit one speed bump during the process and decide to give up, then you have regressed significantly. NEVER GIVE UP. Many nurse practitioner entrepreneurs are just months away from greatness when they give up because of a few hiccups in their plans.
Never stop learning. Always be working on the next project. Always be looking for new opportunities around you. Never stop saving and investing your money. Never stop progressing. Always be moving forward!