Navigating Entrepreneurship as a Doctor: Insights from Elle Todd

In this episode, originally aired on 'What Medical School Doesn't Teach Us,' Cyra interviews Elle Todd, a part-time A&E doctor and full-time entrepreneur, about her journey in starting her own business. Elle shares valuable advice for doctors considering a shift to entrepreneurship, emphasizing the importance of passion, resilience, and comprehensive market research. She outlines key steps in the process, including developing a business plan, incorporating a company, and practical tips on website development and legal requirements. Elle also highlights the significance of balancing a job while initiating a business to manage financial risks and sustain motivation. The episode is packed with actionable insights, making it a must-listen for aspiring entrepreneur-doctors.

00:00 Introduction: Transitioning from Medicine to Business

00:59 Meet the Hosts and Guest 01:36 Elle's Journey to Entrepreneurship

03:18 Finding the Right Business Idea

05:53 Essential Elements for Starting a Business

08:27 Market Research and Initial Steps

10:46 Financial Considerations and Business Models

22:22 Legal Requirements and Incorporation

26:25 Setting Up a Business Bank Account

27:25 Creating a Comprehensive Business Plan

28:57 Managing Multiple Businesses and Accounts

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Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

29:27 Handling Accounting and Outsourcing

31:36 Legal Documents and Policies

34:15 Building and Managing Your Website

42:03 Lessons from a Failed Business Idea

47:22 Balancing a Job and a Side Hustle

48:49 Final Thoughts and Social Media Plugs

Navigating Financial Family Planning for Doctors

In this episode of the Medics' Money Podcast, the hosts delve deep into the complexities of financial family planning specifically tailored for doctors. Matthew is joined by Cyra, a doctor and chartered accountant, they explore various leave entitlements and financial planning considerations during family planning stages. The discussion includes comprehensive details about occupational maternity leave, statutory maternity pay, maternity allowance, paternity leave, and shared parental leave. Cyra offers insights into practical steps and various scenarios to maximize financial benefits, aiming to make this overwhelming subject more manageable. The episode is accompanied by a downloadable PDF guide to assist listeners further.

00:00 Introduction to Financial Family Planning

02:17 Understanding Occupational Rights During Pregnancy

07:10 Navigating Maternity Leave

15:07 Statutory Maternity Pay and Leave

23:26 Paternity and New Parent Support Leave

26:34 Adoption Leave Explained

28:14 Shared Parental Leave: A Comprehensive Guide

36:47 Conclusion and Next Steps

Want the latest financial tips for doctors and exclusive invites? Join 56,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

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Want to improve your finances fast? Then come on our course

https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

GP partner looking to improve your practice/ Then come on our course

https://www.medicsmoney.co.uk/gp-partnership-programme/

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Disclaimer:

The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Medics Money MDT: Hot Takes on Financial Stories and Tax Debates In this special episode of the Medics Money podcast, the hosts introduce a new format where the Medics Money private group chat goes public.

Featuring Dr. Cyra Asher, Andy Pow, and COO Matthew Hodder, the team dives into controversial financial topics and current events. They explore why a £100,000 salary isn't sufficient anymore, debate the potential abolition of cash ISAs, and discuss the implications of higher Vanguard fees.

The episode also touches on the ongoing challenges in the UK stock market and the possible review of Lifetime ISAs, while providing a mix of expert insights and light-hearted banter.

00:00 Introducing the MDT: A New Podcast Style

01:09 Meet the MedicsMoney MDT Team

02:53 The Financial Struggles of a £100k Salary

03:32 Breaking Down the Numbers: Why £100k Isn't Enough

10:11 The Impact of Fiscal Drag and Inflation

17:47 Potential Abolition of Cash ISAs

28:17 AstraZeneca and UK Government Grants

28:31 Investment Portfolios and UK Market Challenges

30:31 Incentivizing Investment in British Companies

31:26 UK Stock Market Performance and Pension Fund Management

37:00 Vanguard Fee Increases and Investment Platforms

45:44 Lifetime ISA Review and Future Prospects

50:01 Final Thoughts and Wrap-Up

Want the latest financial tips for doctors and exclusive invites? Join 56,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/

Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com

Want to improve your finances fast? Then come on our course

https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/

GP partner looking to improve your practice/ Then come on our course

https://www.medicsmoney.co.uk/gp-partnership-programme/

Follow us on Instagram

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Disclaimer:

The information provided in this video is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.