OVERVIEW:

Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy podcast, talks about creating a roadmap to becoming financially free through pseudo-passive income. He weighs in on three methods to do this. He also presents the advantages of owning a business - especially a medical practice - as one of the most effective methods for achieving financial gains using pseudo-passive income.

EPISODE HIGHLIGHTS:

• There’s no such thing as passive income because you always need to do initial legwork and research. Jason prefers to call it pseudo-passive income and has identified three methods for this type of income to become financially free.
  • One method is to decrease expenses. There are several experts on YouTube talking about how best to do this, many in the homestead space. This method also includes penny-pinching, clipping coupons, or searching for the best deals. This can be referred to as living a scarcity lifestyle.
  • The second method is to increase your income by starting new businesses and building new revenue-generating streams. This is often referred to as choosing an abundant lifestyle.
  • The third method is a hybrid model. It includes getting rid of bad debt and keeping your expenses reasonable while also increasing income.
• If you’re a budding entrepreneur, it’s better to build a new business from scratch rather than buy one and leverage its debt. When you build a business, you develop the necessary skills required to be an owner and generate cash flow.
• The ultra-rich invest and reinvest their cash flow into assets that don’t require a lot of work. They build businesses they can eventually extract themselves from so the business can run on its own and/or by a team. This provides a compound effect that has the potential to massively change your life.
• Jason encourages healthcare professionals to consider creating a business by owning a practice. Leverage the skills and the healthcare knowledge you have to further develop business skills. Then, hire an RN, NP, practice manager, and/or physician.
• Have a plan in place and get the balling rolling!

TWEETABLE QUOTES:

“Bad debt is anything that doesn’t put money into your bank account on a daily basis.” - Jason Duprat

“Building a business from scratch requires a lot of work, but, in my opinion, it’s 100% worth it.” - Jason Duprat

CONNECT WITH JASON DUPRAT:

LinkedIn | Facebook | Instagram | Youtube | Facebook Group

RESOURCES:

• BiggerPockets
• Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
• Have a healthcare business question? Text me at 386-284-4955, or email me at [email protected] and I’ll add you to my contacts. Occasionally, I’ll share important announcements and answer your questions as well.
• Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea

#HealthcareEntrepreneurAcademy #healthcare #HealthcareBoss #entrepreneur #entrepreneurship #podcast #passiveincome #businessowner #practiceowner #financialfreedom