READING ROOM: Seven Years to Seven Figures

Physician's Money Digest, January 2007, Volume 14, Issue 1

Seven

Years to Seven Figures

For physicians who are considering a working retirementor are looking for a career change that canincrease their income, entrepreneurship may be anoption to consider. Michael Masterson has written (John Wiley & Son, Inc; 2006) to helpfast track a new business or sales career into success.Knowing that not all investors have pinched their pennies inanticipation of retirement, his plan involves the active pursuitof profit instead of waiting for money to appreciate. The book also discussesdifferent methods for financial success, including becoming a key sales member ata small company with growth; investing in your own knowledge by becoming aconsulting expert; starting a local business (ie, housecleaner, landscaper, etc); gettinginvolved with a joint-venture deal; and learning the value of back-end sales.Masterson stresses the need for a mentor, so the pitfalls of becoming an entrepreneurcan be avoided by emulating a successful model. The bulk of the book is dedicatedto sharing eight success stories of people who applied Masterson's advice.Through this insider's perspective, readers can understand how Masterson's strategiescan apply to different business ventures.