Presentation by Dr. Tom Davis – 355

Today’s show presents Dr. Tom Davis’ lecture on becoming a consultant to venture capital firms from the 2023 Nonclinical Career Summit.

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This serves as a motivational guide for those looking to navigate the consulting landscape successfully. Tom also shares his advice on using the consulting relationship to become a shareholder in selected start-ups.

Our Show Sponsor

We’re proud to have the University of Tennessee Physician Executive MBA Program, offered by the Haslam College of Business, as the sponsor of this podcast. The UT PEMBA is the longest-running, and most highly respected physician-only MBA in the country. It has over 700 graduates. And, the program only takes one year to complete. By joining the UT Physician Executive MBA, you will develop the business and management skills you need to find a career that you love. To find out more, contact Dr. Kate Atchley’s office at (865) 974-6526 or go to nonclinicalphysicians.com/physicianmba.

For Podcast Listeners

  • John hosts a short Weekly Q&A Session addressing any topic related to physician careers and leadership. Each discussion is now posted for you to review and apply. Sometimes all it takes is one insight to take you to the next level of your career. Check out the Weekly Q&A and join us for only $5.00 per month.
  • If you want access to dozens of lessons dedicated to nonclinical and unconventional clinical careers, you should join the Nonclinical Career Academy MemberClub. For a small monthly fee, you can access the Weekly Q&A Sessions AND as many lessons and courses as you wish. Click the link to check it out, and use the Coupon Code “FIRSTMONTHFIVE” to get your first month for only $5.00.
  • The 2024 Nonclinical Summit is over. But you can access all the fantastic lectures from our nationally recognized speakers, including Dr. Dike Drummond, Dr. Nneka Unachukwu, Dr. Gretchen Green, and Dr. Mike Woo-Ming. Go to Nonclinical Summit and enter Coupon Code “30-OFF” for a $30 discount.

Overcoming “The Dip”

Dr. Tom Davis, a board-certified family physician, shares his journey into healthcare consulting. Despite initial struggles and feeling stuck in what Seth Godin calls “The Dip,” Tom persevered. His breakthrough came unexpectedly with a lucrative offer from a venture capital firm, which marked his transformation into a successful professional consultant.

Types of Consulting

Dr. Davis outlines the three primary types of consulting:

  1.  Skills-Based Consulting: Utilizing specific skills clients lack, like creating a motivational video.
  2.  Credibility Consulting: Lending credibility to client decisions, often based on reputation and Google rankings.
  3.  Advisory Services: Providing strategic advice, often under retainer agreements, to venture capitalist firms and other entities.

Building Trust and Value

Dr. Davis emphasizes the importance of consistency and value in establishing trust with clients. Drawing from Seth Godin’s analogy, he highlights the need to offer valuable insights consistently, akin to placing a crisp $10 bill in a neighbor’s mailbox daily, to build credibility and eventually secure larger client commitments.

Summary

For more information or to connect with Dr. Tom Davis, visit his website at tomdavisconsulting.com. He also shares valuable insights on LinkedIn, where you can follow his professional updates and articles. Tom is also a professional speaker and podcast guest, sharing his expertise in value-based care and telemedicine.

NOTE: Look below for a transcript of today’s episode. 

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The opinions expressed here are mine and my guest’s. While the information provided on the podcast is true and accurate to the best of my knowledge, there is no express or implied guarantee that using the methods discussed here will lead to success in your career, life, or business.

The information presented on this blog and related podcast is for entertainment and/or informational purposes only. I do not provide medical, legal, tax, or emotional advice. If you take action on the information provided on the blog or podcast, it is at your own risk. Always consult an attorney, accountant, career counselor, or other professional before making any major decisions about your career.