Healthcare Boss Academy Podcast

• #358: The Pros & Cons of Having a Business Credit Card

  OVERVIEW: Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy podcast, presents the pros and cons of having a business credit card. If you choose to have one, he provides tips on how to use the card wisely. EPISODE HIGHLIGHTS: Jason shares an example of someone who funded their startup with a business credit. He changed his mind on the business and presumed he wouldn't be held personally responsible for the debt. He was wrong. Jason explains the differences between a small business credit card and a corporate credit card. A corporate credit card is more difficult to set up but it holds only the business liable for expenses versus the person.  There are revenue requirements to set up a corporate credit card – $4million in gross revenue. Only C corps and S corps can apply – not LLCs.  The great value business credit cards provide is their point system. Jason's Chase Preferred card offers 3 points for every $1.00 he spends. For example, if he spends 10k in a year, using the 3-point system, that's 30k points or $300 in cash value.  Divide your credit card points by a hundred to get an estimate of its value in gift cards or if you were to cash it out. Set up reminders for your credit card payments to avoid paying interest. Jason advises not to trade interest for points.  TWEETABLE QUOTES: “If you're responsible and you've proven you have a great track record of financial and fiscal responsibility, go for it [a credit card]. Get the extra rewards.” – Jason Duprat “Be wise, be smart and be honest with your business transactions.” – Jason Duprat RESOURCES: Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/ Have a healthcare business question? 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

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• #357: Are You a Creator, Controller or Owner?

  OVERVIEW: Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy talks about how to create wealth in today's economy, including the two ways to do this and the three types of people who create wealth through their assets.    EPISODE HIGHLIGHTS: The right way to create passive or semi-passive wealth is to create multiple assets vs trading your time for money or ‘working your ass off.' There are three categories of people with assets: creators, controllers, and owners. Creators generate revenue using their mind to build or create something. Examples include online courses, coaching and consulting in a group setting, intellectual property and white label services.  Controllers generate revenue through syndication – in other words they don't own the assets but they control them. Examples here include managing an Airbnb, affiliate marketing and drop shipping.  Lastly, owners generate revenue through ownership of real estate. Property examples include car washes, storage rentals, laundromats, Redbox and rental properties.  The sharing economy is taking a liability and turning it into an asset, like renting out your background, pool, barn or garage for an event.  Peer-to-peer lending, often referred to as social lending, connects people or entities who are willing to loan money with people who need to borrow money.  To craft wealth, change your mindset from consumer to employee. Think like an entrepreneur or producer vs consumer.    TWEETABLE QUOTES: “If you're making it (money) with your ass, you're trading your time for dollars…the only way that you can make a dollar is to sell hours of your skills and life to an employer,and that is extremely limited.” – Jason Duprat “Basically, you can take what used to be your liability, something that used to be a cost to you, and help either reduce the liability or just flat out turn it into an asset. This is called the sharing economy.”  – Jason Duprat  “You do not have to be on the consuming end. If you are on the producing end, if you're adding value to people, that's where the real wealth is generated. That's how you become wealthy in today's economy.” – Jason Duprat RESOURCES: Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/ Have a healthcare business question? 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 RELATED EPISODES:   #HealthcareEntrepreneurAcademy #healthcare #HealthcareBoss #entrepreneur #entrepreneurship #podcast #businessgrowth #teamgrowth #digitalbusiness  

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• #356: Systematizing Multiple Streams of Revenue

  OVERVIEW: Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy, talks about if and when you should consider looking into multiple streams of revenue – and how to systemize them.   EPISODE HIGHLIGHTS: Creating multiple streams of revenue may be the obvious way forward but it also has its pros and cons. Timing and taking little steps should always be your focus if you want all of them to succeed. Systemize your streams of revenue. Doing everything at once will only lead to inefficiency and even failure.  Stop pulling yourself into different directions, focus on your primary business before thinking about trying other ventures. Jason references Elon Musk and how he has built his companies through momentum and systemization. Think in a step-wise fashion! There's only so much you can do. Be conscious of your energy, time, and money. Not all streams of income should be active streams of income.  Entrepreneurship is flexible. Be in control, don't be afraid to go into something that you are passionate about. TWEETABLE QUOTES: “Momentum is what will propel you to generating each additional stream of revenue.” – Jason Duprat “The beauty of entrepreneurship is that everything is in your control.” – Jason Duprat RESOURCES: Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/ Have a healthcare business question? 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 RELATED EPISODES: #339: TACTICAL TUESDAY: THE PROPER WAY TO EXECUTE YOUR SIDE HUSTLE #016: TACTICAL TUESDAY: LEVERAGING YOUR HEALTHCARE EDUCATION TO CREATE A SIDE HUSTLE #HealthcareEntrepreneurAcademy #healthcare #HealthcareBoss #entrepreneur #entrepreneurship #podcast #businessgrowth #teamgrowth #digitalbusiness

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• #355: Find Your Capital-S Story and Communicate the Value of Your Business Through Effective Storytelling with Paul Furiga

  OVERVIEW: “Some are born great, some achieve greatness, and some hire public relations officers.” – Daniel J. Boorstin Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy podcast, sits down with Paul Furiga, President and Chief Storyteller of WordWrite. In this episode, Paul shares decades’ worth of knowledge on Public Relations, such as various PR concepts, how to use PR to gain success, and his take on the difference between Advertising and PR.  EPISODE HIGHLIGHTS: He spent about 20 years in Journalism, wrote about 10,000 stories, and edited another 10,000. Along with his Journalism experience, he learned the value and skill of Storytelling. Advertising vs Public Relations analogy: Advertising is when you come into the office the morning after your big date and you tell everybody how great you were. PR is when you come into the office the morning after your big date and your date tells everybody how great you are. Paul and his company practice a 21st Century practice abbreviated as P.E.S.O. - Paid, Earned, Shared, Owned. Every healthcare client Paul works with needs these four categories of content to gain success. Pitching is the Psychology of "When is the right time and right place for the right story?" Three categories of measuring Public Relation success are Outputs, Outtakes, and Outcomes. Press Releases are good for SEO. When you put a Press Release on the internet, write it in plain, easy-to-understand English that can be understood by those outside your profession. You only need to spend a large amount of money if you are making a major national announcement. For regional announcements, there are much more affordable regional distributions. The best way to reach Paul would be through www.wordwritepr.com   TWEETABLE QUOTES: "If you can tell the story of why their life is going to be better or different because of the unique value you bring, you're going to have the best success possible." – Paul Furiga  "Don't ever measure impressions. They are completely 100% vanity and meaningless.” – Paul Furiga  RESOURCES: 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 RELATED EPISODES: #264: HOW A PRESS RELEASE CAN HELP YOU GET PR AND SEO FOR YOUR CLINIC WITHOUT HIRING PR FIRMS #104: TACTICAL TUESDAY: START WITH AN IDEA & BUILD YOUR FORTUNE #264: HOW A PRESS RELEASE CAN HELP YOU GET PR AND SEO FOR YOUR CLINIC WITHOUT HIRING PR FIRMS   #HealthcareEntrepreneurAcademy #healthcare #HealthcareBoss #entrepreneur #entrepreneurship #podcast #businessgrowth #teamgrowth #digitalbusiness

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• #354: Are you an aspiring entrepreneur burdened with student loan debt?

  OVERVIEW: Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy podcast talks about how – and if – you should start a business when you have student loan debt.   EPISODE HIGHLIGHTS: In the US, student debt totals 1.6 trillion dollars. The average student graduates with just under 38k in student loans. And 15% of the US population currently has student loan debt. Jason shares five tips for those struggling with student loans yet still want to launch their business. First, choose your institution wisely. As a student, think about the return on your investment! Don't just pick the most expensive school. The odds of getting your money back, especially in the healthcare field, is relatively low.  Second, make sure you're paying the least amount of interest as possible after you graduate. Consider loan consolidation. Also, there are governmental loan forgiveness programs. They often have a strict contract so make sure you can commit to avoid penalties. Next, reduce the amount you owe. Jason joined the Navy Reserves and reduced his loans by 30k. This has its pros and cons, which you should consider when looking for new opportunities to repay your debt. Fourth, spend wisely and live lean. Self-discipline and self-control is a must to avoid ballooning student loans. Live well below your means and don't make expensive purchases like a new car or home.  Fifth, figure out a way to earn more. Work overtime and apply extra payments directly to your principal vs interest. Pick up a PRN job, which offers great flexibility and pays 25-50% higher than normal salaries.  Start lean and if possible start with a partner who can share expenses with you. Humble yourself. Start small and also consider online options, which have little to no startup costs, such as courses and books.  Once launched, and if possible, consider reinvesting your earnings vs paying off your student debt. This might allow you to move to a second business more quickly with a higher growth model.    TWEETABLE QUOTES: “Choose your degree wisely, choose your school wisely, and choose it based on your return on investment.” – Jason Duprat   “The key is to get started…start up lean, reinvest your earnings and keep pushing forward.”  – Jason Duprat   CONNECT WITH JASON DUPRAT: LinkedIn | Facebook | Instagram | Youtube | Facebook Group   RESOURCES: 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 #entrepreneur #entrepreneurship #podcast #studentloans #studentdebt #highered #loanconsolidation 

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