#132 4 Ways You Can Model Success - Passive Income MD

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Episode #132

#132 4 Ways You Can Model Success

What does it take to be successful? Modeling successful people is one way to do that. 

As physicians, we’re no strangers to studying. We’re also no strangers to learning from others. In other words, we know how to model successful people. We’ve all spent countless hours with our heads buried in books, trying to absorb every bit of knowledge in what little time we had.

But how many of us even think of using that same strategy to reach our ideal lives?

Success comes from setting goals, achieving them, then setting new goals.

The best way to truly accelerate how fast you achieve goals is the same way you worked to become a physician: not only by studying but by eventually modeling other people who are already successful.

In this episode, Dr. Peter Kim outlines four practical steps you can take to model success so you, too, can achieve your goals.

3 Min • November 7

Episode Highlights

Now, let’s look at what we discussed in this episode:

  • What is modeling
  • Questions to ask others paving the trail of success
  • Leverage your resources to achieve your goals
  • Find the right people to model 

Episode Breakdown

[2:53]

Modeling someone means using them as an example and imitating what they do. As an Obstetric Anesthesiologist, Dr. Kim studied and observed the experts. The same happened for me in the world of investing. He met physicians who created significant passive income through real estate, listened to their advice, and followed their path. He paid attention to the type of investments they were making, what resources they used, how often they went to visit properties, what their proper due diligence was, who they learned from.

[5:12]

Modeling and leveraging someone else’s expertise is the fastest and quickest way to succeed in anything. Ask questions.  

“What did you invest in?”
“What resources did you use?”
“What challenges did you face?”
“What mistakes have you made?”
“What would you do again or differently if you were to do it all over?”
[5:28]

Leverage means utilizing the resources that you have to have a greater effect than on its own. When you model someone, you leverage their experience, background, and their time invested. You piggyback on their expertise and experience to help you get where you want to be.

[6:45]

Finding who to model to create multiple streams of income. Are there people in your field of business living the life you want? How are they creating outside income streams? 

You can also join an online community led by physicians and created for physicians. You could join our Facebook group, attend a meet-up which occurs locally, or come to a conference. 

You are the best of the five people you hang out with. Surround yourself with a community that will help you experience growth and leverage your potential. Who do you model?

[9:11]

Two ways to establish a modeling mindset.  

  1. The Leverage & Growth Summit is a collection of stories of successful people who you could learn from and model.  Click here to learn more.
  2. Listen to one of my favorite podcasts: How I Build This. Stories of entrepreneurs and they grow personally and in business.
[10:08]

When you find the right person, here are 4 practical ways you can model their success… 

    1. Model Their actions: 

  • What do they invest their time in to grow?
  • What do they read?
  • How do they spend their time?
  • What actions are they taking to move the needle forward?
  1. Model their habits:
  • How often do you think about your investments?
  • The Miracle Morning. What do you do early in your morning to position your day?
  • If you hear what others are doing that bridges them to success, write it down and learn how to incorporate it into your life.

 

  1. Model their peer group:
  • Who is their peer group?
  • Who is helping them get to where you want to be?
  • Who are they spending their time with that is helping them achieve success?

 

  1. Model their resources:
  • What books are they reading?
  • What podcast are they listening to?
  • How are they doing the proper due diligence?
  • What are they using to analyze deals?
  • What are they using for time management and productivity?
  • What are they investing in? Who are they investing with?

 

[13:21]

Invest in yourself by putting yourself in the right community. Find someone to model that will help you get where you want to be. After all, we are hoping to speed up the process to get you where you want to be. 

Are you ready to model successful people and start growing your income streams? Learn more about the free LEVERAGE & GROWTH SUMMIT.   

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