Interview with Dr. Chiagozie Fawole – 409
In this week’s episode, Dr. Chiagozie Fawole explains why business ownership is better than real estate investing, based on her own experience with each.
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As a pediatric anesthesiologist, Dr. Fawole explored real estate but found it capital-intensive and unpredictable. She later pivoted to acquiring established businesses with a steady income and built-in systems. This approach allowed her to build wealth while continuing clinical work.
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What to Look for When Buying a Business
Dr. Fawole shares how she evaluates businesses based on strong revenue, solid profit margins, and operational history—typically favoring companies that have been around for at least ten years, bring in over a million annually, and have ten or more employees. She explains why these factors help avoid the pitfalls of startups or family-run operations and how physicians can step into businesses that are already running well. Instead of building from the ground up, she outlines how buying the right business can provide dependable cash flow using smart financing that doesn’t require heavy upfront capital.
Business Ownership Is Better
For physicians looking to dip their toes into entrepreneurship, Dr. Fawole suggests starting with short-term rentals. She describes this as a low-risk way to learn negotiation, operations, and tax strategies while keeping a steady clinical job. Over time, these experiences build the confidence and know-how needed to move into bigger business opportunities with greater income potential and personal freedom.
Summary
To learn more, visit savvydocevents.com, where Dr. Fawole shares a free checklist for evaluating businesses at savvydocevents.com/5things. She’s also active on LinkedIn and Facebook. Her upcoming Catalyst Business Acquisition Bootcamp will be held on September 12th–14th in Syracuse, New York. It’s an intensive weekend program that walks participants through how to find, buy, and grow a business.
Links for today’s episode:
- Dr. Chiagozie Fawole’s Website: Savvy Docs
- Dr. Chiagozie Fawole’s Detailed Checklist of Business Evaluation Criteria
- Dr. Chiagozie Fawole’s Upcoming Catalyst Bootcamp September 12th-14th
- Dr. Chiagozie Fawole’s Facebook
- Manage Your Practice Like a Valuable Business Asset
- How to Prepare to Sell Your Growing Healthcare Business
- Apply Discovery, Innovation, Value, and Execution to Launch Your Business – 319
- Want to Buy Your Own Senior Care Business? – 314
- How to Improve Your New Business Odds of Success by Buying a Franchise- 292
- Revisiting How to Use Real Estate Investing to Go from Burnout to Financial Freedom – 307
- How to Integrate Real Estate into Your Investing or Career Pivot – 295
- How to Use Real Estate Investing to Go from Burnout to Financial Freedom – 229
- How to Build a Thriving Real Estate Passion Project Without Being a Landlord – 193
- Why Should I Invest in a Passive Private Real Estate Deal? – 154
- The Nonclinical Career Academy
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Disclaimers:
Many of the links that I refer you to, and that you’ll find in the show notes, are affiliate links. That means that I receive a payment from the seller if you purchase the affiliate item using my link. Doing so has no effect on the price you are charged. And I only promote products and services that I believe are of high quality and will be useful to you, that I have personally used or am very familiar with.
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. It should not be construed as 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.