YFP 143: How Using Your Creativity Can Spark a Six-Figure Business


How Using Your Creativity Can Spark a Six-Figure Business: Art by Stephanie Roberts

Stephanie Roberts, PharmD joins Tim Church to share how she went from full-time pharmacist to full-time mixed media artist after an Instagram influencer shared her pill petri art and made it go viral.

About Today’s Guest

Stephanie grew up in the hills of Eastern Kentucky, a small rural town named Prestonsburg with less than 5,000 people. From as early as she can remember, her go-to response to “What do you want to be when you grow up?” was to be an artist. Growing up as a straight A, high achieving student, there wasn’t a terrible amount of encouragement to follow your dreams if our dreams were outside the tidy box of medical field/law/etc. Stephanie learned to think like most adults surrounding her that being an artist wasn’t a “real job” or career and never thought much of it past elementary school. Art has never left her though and even as she studied and made her way through undergrad (Georgetown College) and then into pharmacy school (University of Appalachia), she was always making and painting as a creative outlet.

After graduation, Stephanie managed a couple different retail chains for a few years (PIC at CVS and Meijer), and finally landed an amazing opportunity as staff pharmacist at the University of Kentucky, opening a new retail location for them in their newest pavilion on the medical campus. At this point she had been out of school for 4 years, married with a one-year old and art was mostly a distant memory. A few years into her new position, she leaped at the opportunity when a 30 hour / 3 days a week (still considered “full-time” for benefits purposes) was offered to her, within the same pharmacy. The extra days off gave her more time with my children (up to 2 boys at this point!) and time to take up a small amount of creativity again.

The work was enough to take up every minute of her spare time but still, she was only dreaming of making art her full-time job. Until July 2019 when her resin coasters with medications suspended inside — what she has named “pill petri” — went viral. This whacky combo she created on a whim combining her love of epoxy resin and her career in medicine, became the tipping point that truly began a whole new life for her. The business was more than she could handle and she worked literally all day and night. Stephanie hired help, all either technicians or interns from her pharmacy, and together they fulfilled orders. She started an online shop that she would stock with hundreds of coasters just for it to sell out within 2 minutes with each release. After the most exhausting 2 months of her life working 2 full-time jobs, she finally took the leap and became a full-time artist still working 1 day each week in the same pharmacy. While the income from art has far surpassed her pharmacy salary, she continues to work to retain her pharmacy knowledge and stay fresh in the profession.

Summary

Stephanie Roberts joins Tim Church on this week’s podcast episode to talk about her amazing transition from full-time pharmacist to full-time artist. Stephanie always loved art growing up and kept creating during college as a hobby. After graduation Stephanie started working with CVS, became manager and then got her own store. After that, she worked at a Meijer in her town and then decided to work at a new pharmacy at University of Kentucky hospital which she absolutely loves.

Three years ago, Stephanie started taking interest in different artists she likes and felt inspired to create more, so she did. Working with epoxy resin was really popular and she was interested in it, so she dove in, researched different techniques and started to create art pieces. She posted pictures of the pieces she made on Instagram but never put a price on them and finally decided to one day. When she did, it sold within 10 minutes. At the end of 2018, she started to make pill petri dish coasters and sell them on Instagram. In July 2019, a very popular Instagram account (@things.i.bought.and.liked) shared the pill petri coasters Stephanie makes and it made her go viral and ultimately changed her life. She had hundreds of orders come in and she couldn’t take all of them. A month after, she spoke with her pharmacy manager about going down to one day a week so she could focus on her art business.

Now, Stepanie earns more money with her art business than she would with a full-time pharmacist salary. She makes different art pieces like wall panel geodes, ocean pieces, pill petri coasters and has a commission list several months out. Every Sunday at 9 pm she opens her shop. No matter how much she lists, Stephanie sells out in two minutes.

Stephanie has brought in help from people in her pharmacy circle to aid her in making the pill petri coasters, her most popular piece. She hopes to hire a full-time employee in the future and loves that she’s able to spend more time with her three children, have a flexible schedule and do something she truly loves.

Mentioned on the Show

Episode Transcript

Tim Church: Stephanie, thanks so much for stopping by and being part of this side hustle edition.

Stephanie Roberts: I am super excited to be here. Thanks so much for having me.

Tim Church: Well, shoutout to my wife for kind of getting this episode started because she reached out to me probably about a month or so ago from the time of recording this and said, “Hey, do you know who this Stephanie person is? She’s got some really cool art, and she’s a pharmacist. And I actually have one of her pieces of artwork as my cell phone background. And I think you should reach out.”

Stephanie Roberts: That is crazy. It doesn’t surprise me, but you didn’t tell me that ahead of time because, I mean, I think most of my audience is women. And I have men messaging me saying, “My wife really wants your art. Can I get it for a surprise for her?” So I feel like it comes from the females. So that’s really funny you said that.

Tim Church: That’s so cool. Well, I can’t wait to dig into the art and all the things that you’re doing in addition to pharmacy. But I want to start out with a couple icebreakers because I think it would be fun. So Stephanie, you have to sing karaoke. What song are you picking?

Stephanie Roberts: Probably anything Reba McIntyre. I think you can hear the southern accent in there, but I love me some Reba.

Tim Church: OK. And what’s — any specific one?

Stephanie Roberts: Probably “Fancy.”

Tim Church: OK.

Stephanie Roberts: I don’t know if you even know Reba, but —

Tim Church: Oh, I know Reba.

Stephanie Roberts: Right. I mean, and I’m not a big country listener. But I mean, I’ve loved Reba from the time I was little. And I have the red hair and everything, so it works.

Tim Church: Now, I did pick up the southern accent a little bit. Where are you from?

Stephanie Roberts: Kentucky. From eastern Kentucky, from the mountains. And I’m central Kentucky now. But the accent is still with me.

Tim Church: Oh, cool. Alright, I’ve got one more for you. You have to delete all but three apps from your phone. Which ones are you keeping?

Stephanie Roberts: Well, I have to keep Instagram because that’s my bread and butter. Let’s see, what else do I really use? Don’t care much for Facebook, but I guess I do still use it. And then a photo editing, again, that’s a big — I have so many photo apps, I don’t know if I could choose one. But that’s big for me and the business.

Tim Church: Cool. Well I like that. And I knew Instagram was going to be one of them, but I was curious what the others are going to be. Maybe your email, right, so you can still communicate with people that want to order?

Stephanie Roberts: Oh, I don’t know. It’s good and bad. The email folders are full, the DMs are full on Instagram. I can’t say I’m doing great at the communication. But I’m grateful for it. But yeah, I’m not too great at it.

Tim Church: Well, I want to start out with you talking about your career path as a pharmacist because obviously this show is about side hustles and how you’ve been able to grow a business. But obviously, that was not where you started. You started out as a pharmacist. So I want to hear about that.

Stephanie Roberts: Oh, OK. Well, so not the most interesting career path, but I always knew I would be in retail pharmacy. So before I had even graduated pharmacy school, I had done an interview with CVS. And they hired me on the spot. And that just seemed like a great, you know, right-out-of-school job for me. I don’t think I had planned too much into where I wanted to be, which is great if you don’t have big expectations, then you won’t get let down. So I started with CVS and quickly became manager with CVS. I floated around and then I got my own store. And from there, that was still — it was a big commute for me. I was commuting about one and a half hours, so that was pretty exhausting when you drive an hour and a half and you have a 14-hour day and you drive an hour and a half back and then you do it again the next day. So another grocery store pharmacy that was in my actual town in Lexington, Kentucky, called me because they were looking for a manager that already had experience. And so I snapped up working at Myer because that was in town where I actually lived. And so I was with Myer for a period of time and then I had a customer that would come in all the time, and he was kind of a retired pharmacist. He had worked with Eli Lilly in Indianapolis, and he was getting his license in Kentucky. He didn’t really love it; he didn’t want to, but his wife was urging him to just so he could work part-time with the University of Kentucky. And that’s where his wife was a pharmacist too. Hey Jeff, if you’re listening. And he told me they were opening a new pharmacy. And I mean, he was just — he was so nice. I wasn’t even looking for another job, but he was like, “You really, really should look into it.” So I did, and I’ve been at UK ever since. It’s retail pharmacy, but it is completely different than what most people think of retail pharmacy. And it’s been awesome. I mean, I’ve said many times, if we ever moved out, I could never do old-school retail pharmacy ever again. It’s, you know, it sometimes can be the worst of the worst. But at UK, we do a lot for the employees and stuff but mostly with the inpatient, we have a program called Meds to Beds that delivers all the medications to the patients before they’re leaving, we service a lot of our transplant patients, we continue to do their medications through mail order, we have a specialty pharmacy. It’s just — and importantly, no drive through, which is a big win for retail pharmacy. But it’s so interesting. No day is ever the same as the last. It’s just — it’s really cool. It’s been eye-opening. I’ve learned a lot. I mean, I’ve learned about medications that are probably learned about in pharmacy school, I don’t even remember, but I’ve had to relearn them because they are fast movers whereas you wouldn’t have even seen them in your normal or average retail pharmacy. So that’s where I still am today one day a week. And I really love it there. I love the people and I love the way they run their pharmacy. And they give you plenty of help. We have so many pharmacists and so many technicians working together. And it’s so great to be able to bounce off any questions, bounce them off another pharmacist or anything when you’re just unsure of something where I wasn’t used to having that before. So yeah, that’s where I am today.

Tim Church: Wow. It sounds like you’re in a much better environment and that you really have a positive working atmosphere with your colleagues and just the things that you’re able to do. What are some of the other things that you like about it compared to other traditional pharmacy models?

Stephanie Roberts: Kind of like what I said about we’re not traditional in the way that we don’t have the drive-through. We don’t have a lot of people coming — not a lot coming outside into our pharmacy as in like outside of the hospital because we’re doing a lot of discharges, a lot of the prescriptions for the patients inside plus the employees and their families. So we really get to know our patients. We don’t see a lot of drug-seeking behavior, which I saw a lot in retail pharmacy. You know, that was kind of a fear, sometimes a safety concern when you’re working until 10 at night and, you know, other pharmacies have been robbed or things just look suspicious in the store. And I don’t really have that fear at UK, kind of in the heart of the hospital and if you wanted to take something from the pharmacy, you’re going to kind of have a long run to get out and pass security into a waiting car. You know what I mean? So it’s — I love that for even safety concerns. We’ve become a 24/7 pharmacy now. That just started about a year ago. So if you even have to work overnight, it’s a great place to be. So in those terms, everything’s interesting, everything’s different. Interesting also means you have new sets of problems and things when it comes to mail order and maybe people didn’t ask for their medications in time, so you’re calling a courier to drive it to them across the state because you don’t want any of your organ transplants to lose their well-earned organ. But it’s always interesting. I just can’t even compare it to any retail pharmacy I had experience with before. It’s pretty cool.

Tim Church: Yeah, I mean, it sounds like a great place to be if you’re a pharmacist. And like you said, it’s not only — it’s challenging, but it’s interesting. And you’ve got a great support team to help you along the way. So I think that’s really cool. Now, people listening may have just picked that up and said, “Stephanie, how are you only working one day a week?” And obviously some people choose to work part-time and they choose to work as-needed, but you know, you’re working one a day a week. And obviously as we were talking about before the podcast started that that’s not how it always was. So let’s jump into how Art by Stephanie got started because obviously that’s part of the story and how you’re working one day a week.

Stephanie Roberts: Right. And it seems kind of counterintuitive when I say I’ve got this wonderful job and now it’s, you know, down to one day a week by choice because I’ve decided to do something else. But I really loved it if I was going to do pharmacy full-time forever. And who knows? One day I might go back to full-time. But that’s where I would want to be. But the art kind of fell into my lap. So I’ve always loved art since I was a little girl, that was always my go-to when somebody asked me what I wanted to be, it was going to be an artist. But you know, as you grow up, not usually — people don’t usually encourage that as a career because let’s get real, there’s not a lot of artists we know that are doing it as a full-time career and paying all the bills. I’m not trying to say I’m special in any way, but you know, it’s not something parents usually encourage their kids to do. I have awesome parents, wonderful parents. So I’ve always done it as a hobby on the side, kind of always did it through undergraduate. As I became a pharmacist, it was something that was probably let go of for a few years. I got married, graduated from pharmacy school the next year, a few years later we had our first of three kids, and so you know, life was pretty busy. And probably about three years ago, I think through Instagram and YouTube and things like that, I started really taking interest in some artists that I love. I think Justin Gaffrey is one of my first artists I ever just like fell in love with his paintings. They’re really textured, and I’m just a texture lover. I love when paintings or art just like jump off the canvas. So I really loved Justin Gaffrey. A few others that I just watched and realized they were — they had a career. I mean, they were doing great. And a lot of their interest was through Instagram. And not that even in my head at that point was I saying, oh, I could become an artist one day. It’s just like I felt inspired to create. So I did. And I would share pictures. And still, I wasn’t trying to go after anything. I was just enjoying it and it was a great creative outlet. So I did that for a few years. It really started with paintings at first. And then I think epoxy resin kind of just like hit the art scene and everybody just started getting resin and I was really interested in that. So I started resin work and kind of 50-50 between painting and resin work. And one day, I just decided after a few years of this and just posting pictures, never trying to get sales, not pushing anything, I just wanted to create and share what I was doing, I decided to put a price in the text of the picture on Instagram, just wondering, you know, I feel awkward asking somebody how much something is. So maybe other people feel awkward too. You know? You’re afraid to get that answer, “Oh, it’s $10,000,” and you’re like, oh, that’s not in my price range. I mean, I just don’t even think I could ask another artist. It’s crazy sometimes. So that’s why I thought I’ll put a price on this and see if anybody’s interested. And it sold within five or 10 minutes. And I was like, well, that was really cool. So I just continued to do that. And I think that was one of my — it was a resin piece and I called it geode, and it’s like an art panel, and it’s stained glass and it’s resin and it’s different pigments and metallics and things like that. And so it was a geode.

Tim Church: And how much was your first piece that you sold on Instagram? How much did you sell it for?

Stephanie Roberts: It was $150.

Tim Church: $150. And how much did that first piece, like in terms of the materials, how much did it cost you to build that particular piece? And then how long did it take you to make it?

Stephanie Roberts: I would say in material cost, probably under $40. I’m thinking as for time, it probably took me five or six hours because it was one of my first ones I had ever made, so everything was troubleshooting and figuring out how to do this and that, which is something I can do a lot quicker after, you know, 100 of those at this point. But yeah. So I really wasn’t doing a cost analysis on my hourly wage or anything like that. I just thought there’s nobody that’s going to want to spend more than $150 probably. Nobody is even going to want to spend $150. That’s what I’m going to price it at because I was happy to keep it. And if nobody wanted it, I was happy to keep it. So yeah, that probably wasn’t my best cost analysis. But it was still great. It was still a profit, and it kind of went on from there.

Tim Church: I mean, that’s really exciting. So what’s going through your head, though, either in the moments before you put it up to say you’re putting it up for sale or even the week or the month before you decided to do that. What’s going through your mind?

Stephanie Roberts: You could probably ask my husband because I talk a lot, but he’s probably not listening. But I mean, at that point, I was like this is really cool. I could make more of these and I could do this and if I had so many a week, it would equal this. You know, it’s probably like, OK sure, but how many people are going to buy these? But you know, in my head I was just like, I’m going to make more and I’m going to put more price on them. I’m going to see if people want to commission these. Still not in the frame of mind like oh, this is going to be a full-time career. But a side hustle, yes. Did I need a side hustle? No. But I was, you know, I loved what I was doing. And if people were going to pay me to do it, that’s all the better reason why I would do it and, you know, not be helping with cooking or cleaning in the house or something. You know, it gives you more reason to do this hobby when you’re getting paid for it. You feel a little bit better about spending your time on it. So yeah, it wasn’t much later — I think that was about like October of that year. And this was 2018. And by November or December, I had made what I went viral for is the pill petri, which is on coasters, resin coasters, with over-the-counter medications in them. And I had put those — I just shared a picture of them on a pharmacy moms group, and I got more orders than I could handle. You know?

Tim Church: Wow.

Stephanie Roberts: It was kind of near Christmastime and everybody wanted them either for themselves or for a friend. And I mean, I’m not saying it was a million orders by any means, but I wasn’t prepared to even make 50 at a time at that point. And you know, maybe I had an order for 100. So that was pretty cool.

Tim Church: That had to been awesome to really validate that what you were doing was something that was very desirable that people wanted.

Stephanie Roberts: Yeah. It was really exciting. I mean, I still, still didn’t — I was not in the frame of mind that this was going to go anywhere, that I would keep creating and I would probably still sell on the side always, maybe people would ask me to do commissions and different work, and I was happy to do it. But it was a dream. Sure, you could ask me, “Would you want to do this full-time?” Yes. But I mean, that was a big dream. It didn’t feel like reality that that could happen.

Tim Church: Do you think that because you just focused on the art and using it as a creative outlet, something that you enjoy doing without the initial intention of monetizing, do you think that that mindset has eventually helped you along the way as to where you are now in terms of making, actually earning income from it?

Stephanie Roberts: Oh yeah. 100%. I don’t think I could have started out saying, “I want to do this for money,” and went anywhere with it. It was because I loved it, it was a passion, I was learning from other artists on the Internet and wanting to do what they did. You know, different techniques and stuff. And I mean, I worked on a lot of things that just went straight into the garbage. You know? It was just for fun. Yeah, I don’t — if I had started out this was all about money and this was all, you know, I don’t think I would have went anywhere with it.

Tim Church: So talk a little bit about what the actual products that you’re selling, you went into it a little bit with the petri dishes, but obviously we’re on a podcast so need to be as descriptive as possible. We’ll definitely share some pictures once this gets posted. But can you talk a little bit about what you’re actually creating? What’s selling the most? What’s the most popular?

Stephanie Roberts: Yeah, sure. So probably earlier — this timeframe that we’re talking about, it was earlier that summer I was working with the epoxy resin, which is a liquid that you mix and then you pour and then it cures to a hard clear kind of glass-like or acrylic end result. And being the dork that I am, I had some pills around, over-the-counter medicines, and I was like, wouldn’t this be so funny? So I put the medications into — it’s a silicone mold that you put your resin into if you’re using a mold. And I made a coaster out of them. It’s like a 4-inch diameter coaster, and it just looks like the pills are suspended in the resin. It takes a few layers to do this. So I had made that that summer, I posted pictures of it. Again, I wasn’t doing any prices back then, so it’s not like anybody even asked about, “Hey, can I buy this?” And it was later that year that — I don’t even remember, I don’t know what the genesis of it was, why I decided hey, I should make a bunch of these. But for some reason, maybe it was just being in that pharmacist moms group, I thought, this could be something that other dorks like me — and I’m just kidding — but you know, other pharmacy nerds might like too. So you know, I put it out there, this is what I’m doing if anybody would like it. And it was very well received. So those are kind of like coasters, like I said, and then I make a little bigger 6-inch diameter. It came about several months later, and I put letters and words and funny quotes in those. And I put funny quotes in the coasters now too. So a lot of customers will — especially in the beginning when I had more time to take requests, they would request, “Hey, could you do this with pink? Can you do this with black? Can you do it with glitter?” And I was happy to do anything anybody asked for. And then every time I would post a picture, there would be 300 other people that agreed with that person, man, we really want them in that color too. And it always led to a new variation of what we call the pill petri. And so now there’s maybe four or five different colors or glitters or clear, whatever, pill petris that I do. And somebody’s always asking for something different. But besides just the pill petri, I still do what I call the geodes, which are wall panels that you put on the wall and those are the resin and the stained glass and the crystals. I do these ocean pieces. Some people send me shells that they’ve collected on family vacations, things like that, and I’ve included the shells in their ocean art. And again, that’s with resin. And then it looks really realistic and pretty cool, I think. But I’ve also done pill art that hangs on the wall as well. So I kind of jump all around, which is exactly what my ADD loves is doing a little bit of everything. And honestly, what I went viral for, the pill petri, can start to feel like a manufacturing process after a while. It doesn’t really get my creative juices flowing all the time, and while it’s my bread and butter, I really try to do some other things in between to really feel like I’m using my full potential, whatever that is. But yeah. A little bit of everything. I still paint, I still have requests for paintings. I have a commission list that’s into March at the moment for a wall art that’s not just the pill coasters that I get recognized the most for. But there’s still a lot of people requesting wall art of different kinds, whatever that may be, the geodes, the oceans, paintings, pill art. Yeah. It’s kind of wild.

Tim Church: Yeah. I was going to ask you, because I feel like every time I check out your Instagram profile — which is awesome, by the way — I mean, even if you’re not going to purchase anything, I think you need to just go and visit it because you’re going to have a lot of fun. And there’s so many cool designs that are on there, some of which appear to be edible. But they are not, correct?

Stephanie Roberts: Thank you, yes. Yeah, those would be the textured paintings that I love to do. And I use piping bags like you would if you were decorating a cake to make a lot of the ones that you’re talking about that edible with the flowers and things like that and pellet knives and things. But yeah, I just, I love art that looks like it’s just jumping off the wall.

Tim Church: But some of the petri dishes, they actually have real candy in there as part of the design, right?

Stephanie Roberts: Oh, yeah. Right. Yeah, no, I have the candy coasters and things too. And I’m even collaborating soon with a big sprinkle company because the sprinkles I think have been my favorite, which is kind of full circle in my life just because I’m addicted to sweets and sugar. I wish I wasn’t, but I am. And I grew up loving ice cream just covered with sprinkles, almost as many sprinkles as you had ice cream. And I would get gallons — I mean, just huge containers of it in my stocking for Christmas. That was like a gift my parents — I remember my grandmother giving me sprinkles as a gift. I mean, that was a gift that people would give me. I mean, that says you have an addiction, right there. But so it’s kind of cool that’s full circle that I’m doing the coasters with the sprinkles and other candy in them and things like that because truly, that’s just who I am, addicted to sugar. So that’s kind of fun for me too, just another side of my personality to be using in art as well.

Tim Church: So one of the things I noticed, I feel like every time I go to your profile and I go on your shopify, everything is sold out. So I was going to ask you, what’s going on with that?

Stephanie Roberts: Well, it’s really funny you say that. But I usually have a shop opening and I’ve kind of — it’s kind of become a Sunday tradition and I’ve kind of stuck with that Sunday, it kind of worked for me, at 9 p.m., I don’t know, it just worked out to be a good time. And no matter how much I put in the shop, it sells out in two minutes or less. And it’s crazy. But people still ask me like, can’t you just have your shop open all the time and just take orders all the time? Or somebody will say, “Can’t you get a real website?” And I’m just like, I don’t know what a real website is versus my shopify account, but it’s not going to increase how much product I have to sell, which I don’t think always registers with people. But if I just had it open to take, you know, requests too, I don’t know how to humbly say this, but I mean, it would be a year’s worth of orders because I can see how many people are on there at shop time when it opens versus how many people get an order through. And you know, they want to take preorders and things like that, and I don’t want for their safety and for mine, I don’t want to take preorders that are six months in advance, which some people say they’re willing to wait when you don’t know what could happen in life, happen to me, happen to my family, my house. I don’t want to hold your money in preorder status. So I like to just sell either what I have or what I can make within the week. And it seems to be working out really, really well. Right before Christmastime, about a month before Christmas, was my biggest preorder I ever did just so people would know whether they got an order in or if they should be shopping for something else if it was a gift for somebody. And that’s why I did it at that time. So it was in November, and I took how many orders I guesstimated I could do in the month before Christmas, and I was exhausted. And even then with to me, the huge amount that I put in the shop, it was still sold out in two minutes.

Tim Church: Wow.

Stephanie Roberts: So that’s just — it’s just — I mean, it’s crazy.

Tim Church: I mean, that’s incredible. That’s incredible. I was wondering if this was like a marketing tactic you were using. But it actually is the fact that you would be too overwhelmed with the amount of orders that’s coming through, which is — I think it’s a good problem to have, right?

Stephanie Roberts: Yeah. I never in 1 million years would I ever dream I had this problem. I mean, in my most earnest hopes and desires, I was like, oh, I think I could push out this many a week and that equates to this much money and that’s almost equal to pharmacy. And oh, we could cut back on things and I could become a full-time artist. I mean, never, ever, ever, ever, did I think this would be “a problem” that I would have that things would sell out. So and that — just to back up, I know I’m jumping everywhere. But last July, things changed when somebody on Instagram shared the art she had purchased. And her Instagram name is @thingsIboughtandliked. And when she bought it from me, I didn’t know who she was. But apparently she was the Oprah of Instagram. And when she shared — I mean, she only shares things that she purchased with her own money and she likes it. That’s the title of her Instagram, that’s exactly what she does. When she shared it, my life completely changed. That night, I had probably — oh gosh, I don’t know because I never did get through all the messages — like 400 or 500 messages. She shared about 9 p.m. my time. She’s in Texas. At 4 a.m., I decided to go to bed after answering as many messages as I could because I thought, well, this is the only rush I’ll ever get in my life. Like I better take every message and every order I could. But even by 4 a.m., I hadn’t got through even half of the orders. And so from her sharing that, I mean, thank God for her. That’s when life changed. So that was in July, and by maybe a month — not even a month later — I had talked to my manager about going down to one day a week and becoming a full-time artist. It was that life-changing. It was crazy.

Tim Church: Wow. So at that point when she shared that, how many hours were you working?

Stephanie Roberts: I was a 30-hour pharmacist at that point. So I was working three 10-hour days a week, which is amazing. And back when I took that — so when I started at UK, I was your regular 5 day a week, 40-hour person, kind of banker’s hours. And then a few years into it, they knew I was interested in going to 30 hours, which is still full-time benefits, and that’s what I took on. And at that point, I was doing some more art on the side, and it was like oh, this is great. I’ll have more time for art and just feeling like the human that I want to be, a little bit of everything. And if I’m going to be a good mom, obviously that was more time for kids too. So you know, it was — everything was great. But so I was 30 hours when she changed my life. And yeah. I realized burning the candle at both ends, I wasn’t sleeping, I was working around the clock to fulfill these orders, you know, it was — self-care didn’t happen for like four months. It was crazy. So I knew something had to end. Either I had to just give it up and I can’t be the person that can fulfill all these orders or I can, and I’ve got to let go of pharmacy, which was very scary when the whole family is on my insurance because the hospital has amazing insurance and benefits and things like that. And my husband has benefits, but you just can’t compare to how awesome the hospital benefits are. So it was scary, and it was something we had to weigh as a family and what we’re losing, what we’re gaining, pretty cool to be at home whenever the kids do need me because definitely the mom guilt has added up over the years. Every time they’re sick, my husband’s job is he has the best job ever and he’s flexible and he can be there for them. But man, it really hurts when you can’t be there when they’re sick. So now I can. I can be there for the kids and just so many other benefits. So that’s where we are. And I have the most supportive husband — this would never happen without the husband I have. Like I can imagine there’s a good percentage out there that would kind of be like, let it go, Stephanie. You know, you’ve got a great job — which I did. Pharmacy was great. Let’s count our blessings, let’s move on with what we have. But he’s been really supportive, and I’ve had some really pie in the sky dreams, and he’s just kind of like, go for it. I think you can do it. And without him, again, I just — without support, I don’t know how you could do it. So I’m thankful for that too. And he’s had to — when I was saying that I was burning the candle on both ends, I mean, he’s a wonderful father. But he really had to step up his game even more and really do a lot of the home things with the kids and everything it takes to run a family and a home. And he enabled me to be able to just devote everything I could to both jobs and stuff. So pretty awesome.

Tim Church: Yeah, I mean, that’s just wild how one post, and a bazillion orders come through and everything changes and no longer is pharmacy your full-time gig but now it becomes the other way around. And I think for a lot of people, that maybe they want to make that transition or do that change, but there’s obviously a lot of fear that goes behind that. Like you mentioned, obviously the healthcare benefits, that’s one, and being able to afford healthcare when that’s something that’s part of your employer benefit package. But then also, are you going to continue to get orders like that? Is it going to continue to have a demand? Or is it a one-time spurt like that? I think that probably had to be going through your mind at that time as you’re making that decision with your husband with how you’re going to proceed.

Stephanie Roberts: Oh yeah. I mean, looking back at it, I don’t really know how we made that decision. Why did we really think it would continue? I don’t know. I mean, there was kind of markers where you’d say, yeah, it looks like people will continue. But we didn’t know. This was only a few months later, but I still look back and think, why did we really think it was safe to make that jump? I don’t know, but thank God it was. And it’s continued to be — it probably took me 10 shop openings to be like, you know, every time before it opens, are people still going to be there? Are they still going to shop? Are they still going to buy things? And now I feel confident they’re going to be there because they’re in my DMs, they’re in my messages, they’re saying, “When is the next shop opening?” And I feel confident. And I might even feel confident like that it will continue for a year, but I don’t know what the future holds. I’m hopeful. But like I said before, and maybe this was while we weren’t recording, but you know, I hate to let go of pharmacy in case I need to get back into it. It’s an amazing safety net. I can’t think of a lot of people, you know, that I’ve learned about over the years, amazing authors and artists of every variation that have held onto their side job for as long as they could while they were still trying to make it. I don’t know of any side job that was as great as pharmacy is, so it was — I mean, I’m so happy that’s my safety net, even if I had to go back to the trenches of some retail pharmacy that I would prefer not to work in. It’s still a blessing, it’s still there, it’s still wonderful. So yeah. I just kind of pinch myself every day that this is happening.

Tim Church: I mean, it’s incredible. I mean, I just, I’m sitting here behind the mic like, I’m just so fascinated and intrigued with your story and how you made that jump but also how you continue to make it happen and just the demand being there. I mean, it’s just wild. So I think a lot of people are probably thinking, alright, Stephanie, you basically said you’re crushing it right now. You can’t even hold your shop open for more than a couple minutes before you sell out of your business. Can you give us just an estimate — I mean, how much are you actually earning in the business? And is it comparable to what you were making full-time as a pharmacist?

Stephanie Roberts: I think my husband wishes I was a little bit better with numbers and keeping up with things like that, but Shopify and having that online presence has really helped me to see that and see my profits and, you know, tax season is going to be really interesting this year as we figure out what we’re doing with a new business. But after this year, hopefully we are more informed about everything we need to do better next year. But yeah, it’s doing better than pharmacy. I think I would have made that jump even if it was maybe doing a little bit less than pharmacy. I think we could have handled that in our finances. I have, again, my husband has a Master’s in business and education that I don’t even understand. But you know, so he’s wonderful to have around. I call him the CFO. But yeah, it’s doing better than pharmacy, which is a huge surprise. I would go ahead and estimate that it’s going to be over six figures this year. And I mean, that’s pretty cool. I don’t know that I could ask for more. So —

Tim Church: I mean, that’s incredible right there because I mean, I know there’s a lot of people that obviously are doing — designing art and doing creative works. And I think they dream of even getting remotely close to what you’re making. And so the fact that you’ve been able to do it and replicate the process and continue to have — there’s a need out there, obviously, for people that want your designs. I mean, that’s just incredible.

Stephanie Roberts: It is incredible because who would have even thought outside of the pharmacy network I was going to find an audience for pill petri? But I mean, it far surpasses just people in the medical field anymore. I mean, there’s all the nice, fancy blog influencers, I mean, Instagram influencers and things like that. Again, other people buy it and then share it. And it’s — I would have never imagined that somebody that wasn’t in pharmacy or medicine period would want these. So I mean, yeah, just crazy. And I feel humbled by it but also feel like gosh, I look at some people that are just so talented and I wonder if their sales are like this or they’re close to this and things like that. I don’t feel worthy of it. But it’s — I’m grateful. And it’s been a really fun ride. So yeah. I put my time in at least. I may not be as wonderfully talented as they are, but I have definitely worked my butt off. I can say that. I have put the time in for sure.

Tim Church: It’s easy to tell that. And like you said, coming from your initial motivations for even pursuing art were way beyond the ability to monetize it. So I mean, I think that’s really cool. Now obviously, you’re the secret sauce of the business and creating these awesome designs. But does anybody help you with different aspects of it?

Stephanie Roberts: I have been bringing in more people, and they are to help with it. Like I said, the coasters at this point are — it’s almost like manufacturing. We make hundreds a week, and it is probably more time-intensive than anybody ever assumes when it comes to how many layers of resin you pour and putting the pills in, creating the capsules we make with the glitter and the sprinkles inside, I mean, I have thousands of those we make. So it’s not just buying over-the-counter drugs, but it’s making the glitter capsules that are kind of, again, the secret sauce that people are just like, where do you buy those? We don’t buy them. We make them. So the people I have helping me, funny enough, are technicians I’ve recruited, interns I’ve recruited, and somebody just started for me recently as one of my fellow pharmacist’s daughters. So it’s been kept close to home. I hope to hire somebody really full-time and, you know, become more of an assistant. I always tell people when I say, “Do you want to come over and help?” I mean, obviously, they get reimbursed. But you know, it’s not the most fun. But you know, we try to make it fun. It’s just time-consuming and we listen to our podcasts and we watch TV on the iPad or do whatever. So we keep it as lively as we can. And it’s not boring. It’s not the most fun. But it’s, you know, it’s better than on your worst day in pharmacy for sure. You know, the days when insurance is down and you know the customers don’t understand that and somebody’s sick and the very worst days, you’re like, yeah, you know, at my worst I may be a little bit bored on some occasions. But yeah, it’s still pretty great. I like the day-to-day

Tim Church: What about an accountant or a lawyer to help with some of the legal issues with the business? Anything — any of those people supporting you?

Stephanie Roberts: Well, I don’t have a lawyer that I have kept on staff or anything like that. But in the beginning, before we jumped this as a full-time career, my husband said, “You really need to figure out if this is legal. Legal, legal, legal.” I had kind of already been doing it, but he’s just like, you can’t jump to this full-time — and I had researched it on my own as much as I could to make sure everything was OK. So I think I contacted three different pharmacy lawyers that I knew of. So they were pharmacists plus attorneys. And they were all gracious enough — I mean, just on a friend basis looking into it for me. And nobody could find any reason why this would be, you know, illegal. Again, they’re over-the-counter medications, there’s no prescription medications in there. People shouldn’t be able to get — I mean, to get into the resin to get into a medication, you would have to use a drill. And by the time you got down to the pill, it’s going to be obliterated. So you know, good luck trying to get that Tylenol out of there to take it, but I don’t think it’s going to hurt anybody.

Tim Church: I was going to go for the Sour Patch Kid or the Swedish fish.

Stephanie Roberts: Oh, OK. Yeah, I mean, just swallow the coaster whole. That would probably easier to do than to get down to those. And on the gummies too, I mean, I’ve covered those with like shellac-type substances. So yeah. You’re not going to want them. So definitely have an accountant that will be helping us with our first tax season as a sole proprietorship this year. Plan on becoming an LLC. Should have done that last year, but time definitely got away from me. LLC I think would be much more beneficial. But yes, an accountant is a must. I don’t think we would do this on our own. Not yet. Maybe in the future. Probably not. But — and I hope I never need a lawyer, other than the initial, “Hey, is this legal?” I hope I don’t need another one for any reason.

Tim Church: But one of the things along the lines I was going to ask was, do you have any patents or other protections on your designs?

Stephanie Roberts: I have looked into patents, and patents on art are pretty difficult. You can get them, but then you have to enforce them. And when I get into something, I really — I get into 175%. So I have done every online course and researched other entrepreneurs in every field and even people like — I think it’s Sarah Blakely that does the Spanx brand. As a male, I don’t know if you’re aware, but I mean, Spanx is a huge brand. So maybe at this point you know what that is. But I mean, even on her designs, she said she had patents and people were ripping it off here and there. And she’s like, you know, I didn’t have enough time, I didn’t care enough, really, to go after every one of them. I just was focused on what I was doing. And that girl is into making billions these days. So there’s a lot of stories kind of like hers that make me believe there’s copycats. I already have copycats. And I try to just see it as flattery. They’re not doing as much. But —

Tim Church: Their shops are open, right?

Stephanie Roberts: Yeah, yeah, their shops are open all the time, just like — yeah, exactly. But yeah, I think I’m just going to keep my blinders on and keep trying to do what I’m doing and always stay ahead of them. That’s kind of one thing, it’s kind of motivated me to always stay ahead and be thinking of more, not to get comfortable or same like, you know, looking ahead, maybe we could assume I have some business in the future. But let’s not always assume. Let’s just work and earn that business and keep your clientele and keep the customers coming back for more. So it has motivated me in that way to not get comfortable and say, this is easy-peasy from here on out. No. I need to always be doing more. So that’s pretty cool.

Tim Church: So Stephanie, what advice would you give other pharmacists out there who have other interests and passions beyond pharmacy that maybe have the potential to be monetized?

Stephanie Roberts: I don’t know if I would say, jump into it. But you can do it. I mean, I just, I really think if you have a passion and a will — I saw this quote I think just two days ago, and it’s so simple. But it just really hit home for me, and it was just like, “I don’t know how, but I’m going to do it.” I mean, it was something like that. But I don’t know how, but I’ll make it happen. And it’s just like yeah, that’s exactly what it is. I don’t always know the how, but I’m going to figure it out and I’m going to do it. And I think anybody can. I think as I’ve entered my 30s and the more I’ve listened to and digested all these wonderful podcasts that exist that interview all these amazing entrepreneurs and people doing — it’s just like, you can do it. I mean, it’s amazing you can do it, how you can think outside the box and really make it happen. Growing up, I just really didn’t do that. It just seemed like degree all the way and that’s all you can do. And now I really want to educate my kids on — I mean, college is wonderful and I hope they go to college, but there’s so much more outside of that with being creative thinkers and finding a solution to a problem and that’s how some of the best inventions are made. I would just say if you’re really into it and you have a passion for it, do it. I don’t think money is always the best motivator. I think after awhile, you would get — you’re going to be exhausted and give up if it’s only about the money because I know from experience if this had only been about the money, oh, I would have given up a long time ago. It’s been exhausting. It’s been hard. But like I said, with three little kids at home, it’s not been easy. But I wanted it. So I kept on going. And I went days with only three hours of sleep every night. And that really takes a toll on you. But I wanted it. So I was going to keep on going. And I don’t think if you’re doing it only for the money that you would push through all the time. So you know, if you find something you’re passionate about, go for it.

Tim Church: I love that. Well said, Stephanie. Well thank you so much for coming on the show, sharing your story, really looking forward to hear how you continue to just explode this business. And I look forward to the day when you’re shop’s open and possibly I can order something for my wife. But also I like the coasters too, so even though you said you’re catering to a lot of women out there, I definitely think that there’s some really cool designs that you’ve done, especially if you’re a pharmacist or have that background that are really cool to have in your house. So I would encourage you to check out some of the designs. So if someone wants to reach out to you or learn more about what you’re doing and Art by Stephanie, what’s the best place to go?

Stephanie Roberts: Well thank you so much. And I have made some male designs for some male pharmacists and some doctors that did not have glitter pills in them. That’s all it takes. You just subtract those out, and it’s a male coaster. But Instagram is the best place to find me, and it’s pretty simple, but it’s @artbystephanieroberts. And you can get everything you need from there. The link is in the profile for my shop. Again, that’s most Sundays. But you know, @artbystephanieroberts on Instagram, you can find my email from there. And that’s really the place to go.

Tim Church: Thank you for listening to this episode. And as always, if you liked the content and want to hear more side hustle and pharmacist entrepreneur stories, please leave us a review on the Apple podcasts app or whatever player you use so we can get the message out and help other pharmacists on their financial journey. Just a reminder, if you want to win some of Stephanie’s art, follow @YourFinancialPharmacist and @artbystephanieroberts on Instagram and then comment on our audiogram post that’s going to be posted on Instagram Friday, March 13. And you’ve got one week to do this, and we will announce the winner the following week on Friday, March 20.

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YFP 137: How to Monetize Your Clinical Expertise


How to Monetize Your Clinical Expertise

Diana Isaacs joins Tim Church on this side hustle edition to talk about her journey in becoming an expert in diabetes and how she has been able to monetize her clinical expertise through speaking engagements, advisory boards, consulting projects and CE articles.

About Today’s Guest

Diana Isaacs, PharmD, BCPS, BC-ADM, BCACP, CDE is the Continuous Glucose Monitoring (CGM) Program Coordinator and Endocrinology Clinical Pharmacy Specialist at the Cleveland Clinic Diabetes Center. Her role includes clinical practice, teaching, and research. She provides medication management and runs a robust CGM shared medical appointment program.

Summary

Diana Isaacs shares how she monetizes her clinical expertise in diabetes on this side hustle edition.

Diana’s training after graduating college was in pharmacy practice and ambulatory care. She gained clinical expertise and took additional training to receive certifications and specializations. She fell in love with diabetes and started working more and more in the field. She now works as a Continuous Glucose Monitoring (CGM) Program Coordinator and Endocrinology Clinical Pharmacy Specialist at the Cleveland Clinic Diabetes Center. Diana was recently awarded the 2020 AADE Diabetes Educator of the Year.

Her passion for diabetes is palpable and has allowed her to become an expert in the field. When she’s working at night on her side hustle as a clinical diabetes expert, she doesn’t feel as though she’s working but more that she’s doing a hobby she loves. She’s monetized her passion and expertise in several ways, including speaking engagements and presentations, advisory boards, consulting projects and CE articles and courses. She earns the most from honorariums which varies between $500 to $3,000/event. Advisory boards come in occasionally and bring in between $1,000 to $2,5000/board. Diana receives $500 to $4,000/CE article and if she works on a consulting project she usually earns $1,000 to $2,500.

The biggest reason for her success has been her willingness to say yes to opportunities and to reach out to organizations or conferences in which she’s interested in speaking.

Diana says it’s hard to quantify how many hours she works, however she makes it happen! Her side hustle has increased over time so she didn’t feel the brunt of working several additional hours on top of her day job at once. She has a very supportive husband that works part-time and is able to take on more with the children and household tasks. She works at night after her children go to bed but takes off Saturdays and Sundays when she can to make sure she’s present for her children and husband.

Mentioned on the Show

Episode Transcript

Tim Church: Diana, thanks for stopping for and for being part of this side hustle edition.

Diana Isaacs: Oh, you’re welcome. Thanks so much for having me.

Tim Church: I first want to congratulate you on your recent award. And that is the 2020 AADE Diabetes Educator of the Year. And this is an award that honors a diabetes educator who has made a special contribution to the field through dedication, innovation, and sensitivity in patient care. Now Diana, this is a really big deal, and I wanted to ask you, what does winning this award mean to you?

Diana Isaacs: Oh, well thanks. Yeah, it’s been a really exciting year. Winning this award has been tremendous. I mean, I’m so grateful to be recognized for it. And it’s definitely opened up a lot of opportunities for me in terms of it almost seemed like overnight, people were like, oh, she’s an expert in diabetes. And it’s given me a lot of new opportunities to pursue.

Tim Church: That’s great. And when was the last time a pharmacist won this award? Because this isn’t something specific to pharmacists. This is really anybody in the diabetes space.

Diana Isaacs: Yeah, that’s one of the things I really love about the organization AADE, the American Association of Diabetes Educators, is that it is, it’s a multidisciplinary. You’ve got nurses, nurse practitioners, DAs, exercise physiologists, you’ve got dieticians, you’ve really got everybody. And so it’s just — it’s really special I think to be recognized by all the different disciplines. And in terms of the last time a pharmacist, I think when I looked it was like 12 years. So it definitely had been a long time.

Tim Church: That is so cool. And it’s really awesome to see you being recognized because as we’re going to jump into, you really have done a lot for diabetes in terms of your scholarship activities and a lot of the committees and things that you’ve been on. So I’m excited to jump into that. But obviously getting this award is not something that happened by accident. So I want you to talk a little bit about your career path.
Diana Isaacs: Yeah, sure. So let’s see. Going all the way back, I graduated from SIUE, it’s about 10 — actually exactly 10 years ago now. I did a pharmacy practice residency with an emphasis in ambulatory care at the Philadelphia VA. And then I was really fortunate to get my first position as a clinical assistant professor with a practice site at the VA, getting to manage diabetes. And I think through that, I really was able to gain clinical expertise in managing different types of patients and seeing different types of things. And I pursued my certifications, like my CDE and the BCEDMs, I’m board-certified in advanced diabetes management. And really, I think one of the things that really stands out is I say yes. I definitely say yes to different opportunities and also seeking out whenever there was an opportunity to be able to speak at a meeting, whether a local program or anything, really trying to grow myself professionally.

Tim Church: So a lot of those opportunities, did you have to be very intentional about getting? Were some of those given to you?

Diana Isaacs: So that is a great question. So yeah, the golden ticket, right, is when you get one of those emails that says, “Hey, will you do this? And we’ll pay you all this money, and we’d like you to present here and write this.” Those emails come sometimes, and they have fortunately come more often since getting this award, but no. For the most part, I sought things out. When I saw that a meeting was accepting abstracts to be able to speak, I drew up an abstract and I submitted it. I, you know, submitted lots of proposals for lots of different things. I worked really, really hard. And some of the things stuck, and many times, they didn’t get accepted. But I kind of just kept trying.

Tim Church: And did you have any failures along the way when you submitted those proposals?

Diana Isaacs: Well, I don’t like to think of it as failure, right? Because you’re trying to think of it as you’re growing. But yeah, I like to think of it as like I throw 100 darts at a board, and two of them stick. And that’s great. I’ll pursue those two things. So yeah, I feel like I apply for lots of things. I’ve tried to really do a lot of different things and yeah, sometimes I don’t make it, they choose someone else, I don’t get it this time, but I just kind of keep trying. And I really try to keep my ears open for opportunities. That’s something I’ve been pretty good about paying attention, you know, sometimes you get those emails where it’s like, you can apply for this. Like for example, with the American Diabetes Association, they have these special interest groups. And I’ve been wanting to get involved with ADA, and so I applied for that. And I ended up being appointed as communication director for the pregnancy and reproductive health group. And that was just an opportunity that hey, I paid attention to my email, I filled out the application, I submitted it. And it worked out. So I think, you know, a lot of it is reading your emails and seeing what opportunities are out there.

Tim Church: At what point in your career did you realize that you had become an expert and really had authority in this space?

Diana Isaacs: So I don’t — I guess I’m still growing, and I like to think I’m still definitely growing and evolving and there’s so much to learn with diabetes that I don’t know if anyone is a full expert. But I think, you know, definitely earning this award this year has solidified some of my confidence. And I think over — especially in my current position, so right now, I’m at the Cleveland Clinic Diabetes Center. And I think in this space, I see such complex cases. I get to do so many cool things here that I think I just realized, you know, when I interact with other people that I am seeing a lot more, a lot more diverse things that I’m becoming an expert, I guess you could say.

Tim Church: So what would be some of the examples of complex cases or things that maybe most pharmacists kind of in an amb-care setting may not see every day?

Diana Isaacs: Yeah, so I get to do a lot of work with the post-kidney transplant population. And that’s a lot of fun. So there, we do a bunch of kidney transplants there. And unfortunately, our patients were kind of falling through the cracks. That was a need when I came here, that they weren’t getting good glycemic management right after that transplant. It was hard to get into endocrinology. So that’s a service that I took on. And now I see a lot of those patients. And so it’s just, it’s very interesting because they’re on high dose steroids, they’re tapering over a month’s time, they just had a transplant so they’re acutely sick. Many of them, even if they didn’t have diabetes before, now they have steroid-induced hyperglycemia, and it’s really an art to it because there’s no specific protocols. It’s really every person’s different, and you have to very closely manage it. And then in addition to that, sometimes you see the pancreas-kidney transplant. Like I have a patient this week, she had it, and you know, you would hope, right, the dream is that if you get a pancreas transplanted, you don’t need insulin anymore. But it doesn’t always work like that. They call it like angry pancreas. Like it takes some time for that new pancreas to adjust. So then we have her on Metformin and like we’re trying to see, are we doing a DPP4 inhibitor and what else are we going to do? And so it’s just — man, it’s a lot of cool stuff, a lot of cancer patients, a lot of just everything, like post-bariatric surgery, hypoglycemia, people doing keto and de-escalating therapy, lots of CGM, diabetes technology, insulin pumps, just lots of cool stuff here.

Tim Church: So it sounds like that the providers are how they come in through the clinic, they’re like if they’re complex or it’s going to be difficult, we just send them to Diana. Is that pretty close to how it works?

Diana Isaacs: So I am so fortunate. I work with like the most amazing doctors, and I have an amazing, amazing team. So what I try to do when coming here — because I was the first full-time pharmacist put into the diabetes center — was I tried to find where would I be most useful? And some of the areas I recognized that were one, we were underutilizing diabetes technology, so like insulin pump adjustments and getting more patients on CGM. And then the kidney transplant need was really two areas where I decided that I would really be best utilized, and so those are kind of niches that I’ve I guess developed. But yeah, I try to be helpful wherever I can for the team.

Tim Church: That’s really cool, and I think those are obviously niche areas within diabetes itself, but through the organization that you work for, obviously if those are very frequent types of patients that are coming in, there’s certainly going to be a need. And I think that’s really cool how you positioned yourself to basically say, what are the needs out there and how can I best be a part of this service and impact patient care in that way? So I think that’s really cool the approach that you took.

Diana Isaacs: Thanks. Yeah, and I try — you know, a lot of times, pharmacists will come and ask me what they can do and how they can get involved, and I think it’s really every place is unique and it’s about assessing the needs and making sure you’re not stepping on other people’s toes but you’re adding value to the team.

Tim Church: So besides kind of positioning yourself as an expert by taking on very difficult cases, very unique cases that many people may not see all the time, you know, one of the things I thought about prior to our interview was the book “Outliers” by Malcolm Gladwell. And essentially, one of the conclusions of that book is that in order to become an expert, you need 10,000 hours. So a lot of people out there — obviously you don’t become an expert, you don’t become a member of the Beatles like overnight. The Beatles don’t become The Beatles overnight. It takes a lot of time and practice in order to get to that point. So what do you think about that in the context of your personal journey?

Diana Isaacs: Yeah, that’s a great point. And yeah, hard work is required. I mean, I work hard. But the thing is, it’s not boring or tedious. I just, like I really love diabetes. And I love that I can use my skills in diabetes to be able to help people. Almost 10% of people now have diabetes. So wherever I am, I’m able to make an impact and to directly help people. And so like for me, I love doing it so much that I don’t think of it as work. Like if I am working on a project or I’ll do this stuff in the evenings, and I don’t really think about it because I’m enjoying doing it. But absolutely, like the hard work is necessary. And I think on one hand, that should be inspiring because it’s not that you have to have like some special secret skill or talent. Like every person or every pharmacist should know, like if they work hard enough in a certain area, they can become a clinical expert.

Tim Church: And I think too — and I think obviously, you’ve already kind of talked about this, but just that repetition of seeing the number of patients over and over and over, and you start to develop certain patterns. You know, obviously you’re going to have some complex cases that you’ve never seen before, but it’s almost kind of like it adds to the — your own repertoire of knowing OK, I’ve seen a patient like this in the past and this is how he or she has responded. And I’ve kind of instilled that in the training programs is when we take residents — because for those that don’t know, I also do primarily diabetes management, but I’m always pushing the residents and students to really see as many different types of patients as possible because that repetition is so key, even if it seems monotonous and tedious at the time.
Diana Isaacs: Yeah, and I think the great thing about kind of the ambulatory care environment too is you’re interacting, you’re communicating with different types of people. So you can always learn from every person. And so that’s really the art of it that makes it really unique and something — I have a lot of trainees, a lot of residents and students that I work with. And that’s something, you know, you can have two exact same clinical situations but what you do may be different depending on like the patient’s attitudes and other factors. So yeah, that communication and, like you said, repetition, is very helpful for navigating different situations.

Tim Church: So who or what really inspired you to become an expert? I can tell like just from your voice, obviously this is where you’re already passionate about. But is there anyone who inspired you to basically continue to achieve, continue to get to the next level?

Diana Isaacs: Yeah. So I want to highlight, so Jess Kerr, who is faculty at SIUE where I went to pharmacy school, was very inspiring. She was faculty and had a practice site — or still has a practice site at the VA. And I wanted to do what she did. I guess that passion I saw, she had that passion for helping people and I really wanted — she seemed so happy — and I really wanted to be that. I was very fortunate to get a position like that. I think something else that actually stands out is my math teacher, actually in high school. I had a really bad attitude about math. And I was like, fine, like this is too hard. Like I’m just getting C’s, like I don’t care. This is just way too hard, I don’t feel like doing it. But she invested all this time in me. And she encouraged me to have a positive mental attitude, PMA, and she said things like, “Dream it. Believe it. Achieve it.” And that really shifted things. Like I learned that my attitude really dictates how situations will turn out. And just through changing my mindset, having a positive attitude, things can go really well. So I turned myself around, I went from C’s to A’s. And I think that that message really stuck with me in a lot of different areas, not just pharmacy and diabetes but in other areas of my life too.

Tim Church: That’s really cool. And I think that a lot of people, they would not be where they are unless they heard some message, received some encouragement from somebody. So that’s cool. And I think it’s great that you highlighted those individuals. So obviously you’ve reached this expert status in managing diabetes and along with that comes some engagements and proposals and things where you can really show off those skills but also help other clinicians help patients. So talk about some of the ways that you were able to start monetizing your clinical expertise.

Diana Isaacs: Yeah. So it’s been exciting because I’ve done a lot of things over my career for free, put a lot of sweat and tears — not usually tears. But yeah, now I’m getting paid to actually speak and things like that. And I love — it happens to be that I love giving presentations. And so that now, you know, I get paid to give presentations. And part of actually what I’m doing with this Educator of the Year is I get to give presentations and then beyond the five that I will give and that I kind of already received an award for, I can do additional ones where they pay me and I’ve been able to set my price. And so that’s been exciting. And then another side benefit has been that industry has been interested in me too. So now I’m speaking for DexCom as well as I’m on the speakers bureau for Novo and for Zerus, and so that is very exciting.

Tim Church: So take a step back for the award, the Diabetes Educator of the Year, they’re already guaranteeing you five speaking spots? And are those individual speaking gigs, those are paid for? Is it one lump sum that they’re giving you?

Diana Isaacs: Yeah, so what happened is I got $5,000 up front for that. And in that, I agreed to speak at five places, which I got to choose — or places could request me, and then I got to choose from the list of people that requested me. And then beyond that five, then additional places can request me. But they won’t get the financial assistance. So they would have to pay for my travel and then pay for my honorarium on their own.

Tim Church: So besides speaking, what are some of the other ways you’ve been able to monetize?

Diana Isaacs: Yeah, so things like CE articles, so places like Pharmacy Times, Power Pack, they will basically — they will pay you to write CE articles or like give webinars. So that’s one thing I’ve been able to do. Also, like in the webinar and course development — so I actually do a lot of stuff with AADE. There’s a whole CGM course. And it’s going to be turning into a certificate. But I was involved in that. And so that’s led to a lot of honorariums along the way. We even most recently created videos for it on how to counsel on CGM. And so there’s been a good number of honorariums for that as well.

Tim Church: That’s great. So can you break down kind of the different ways you’re earning and what they would typically provide in terms of an honorarium? And that could be like a range.

Diana Isaacs: Yeah, so it really varies a lot from place to place. Like some places, you do a local program, and you speak, and you get $1,500. And that’s to cover — it usually would be like a one-hour program. Depending on the company, sometimes they’ll give you the slides. And sometimes, they’ll have you pick from slides or they’ll let you put together slides, depending on how much freedom you have. Usually, many places will pay — if it’s not done that way, they’ll pay you an hourly rate and then they will pay for presentation development. So like usually, that honorarium ranges from I would say from $200-300 an hour. And so that would, you know, if it takes 10 hours to prepare, say that would be $2,500. And then the presentation itself usually will be like a $2,000 honorarium as well. So I would say like usually, when I speak, I’ll get anywhere form like $1,000 to $5,000. $5,000 being the best and not usually so normal. But that’s kind of a range. And then they pay for travel and hotel and all that, flight and all that good stuff. Recently, I was asked to speak as part of this diabetes program, which is training people for CDE. And that, I think we agreed on like $600 per hour of speaking. But that wouldn’t be prep time, that would probably just be like the time. So if I speak for five hours, then it’s $3,000. So that’s kind of for the speaking stuff, that’s usually how it works out.

Tim Church: And then have you been able to cross — I mean, obviously with AADE, ADA, those are multidisciplinary organizations — but have you gone and done presentations specifically for physicians, for nurse practitioners, physician assistants?

Diana Isaacs: Yes, so I was just recently asked to speak for like the dietician organization. So I think that’s beginning to happen. I was asked to speak also for ADA post-grad sessions, which is in early February. So that’s exciting because that’s an organization, there’s a lot more physicians in that organization. And of course, I do a lot of speaking AADE. So I think I’m starting to tap into these other organizations as well.

Tim Church: You mentioned to me before we jumped on the call that besides speaking, besides CE articles, some of the other ways you’ve been able to monetize have been being a part of advisory boards and then also consulting. Can you talk a little bit about that?

Diana Isaacs: Oh yeah. Advisory boards are like the greatest thing in the world. They’re usually like these — it’ll be like four hours and you’ll get paid like $250 an hour, plus if there was any travel. But the best is when they’re local, and you just like go for four hours and you get $1,000. Those are wonderful. I love when those happen. Other things, like for consulting, just different types of like writing or I get asked a lot of stuff about CGM type of stuff. Like now, I’ll be working on a supplement for the Diabetes Educator for InPen by Companion Medical, so stuff like that pays. Oh, recently I got asked to do this Medscape thing, which that sounds actually really cool. It’s like about time and range. And they’re — I guess it’s more kind of like an interview. They asked me to pick a nurse that I like working with, so I picked my favorite nurse. And we’re going to go I guess to like New York to film this brief thing. But that was like another kind of cool thing that I was like, oh, wow. That’s interesting. So all that stuff’s been cool. And I guess one of the things I’ve learned is, you know, I’ve done lots of things for free in my life. And I love doing it. So sometimes, it’s like easy to get to be like, oh yeah, I’ll just do this. But recently, I’ve tried to set my boundaries that hey, if someone’s asking for a good amount of my time, to make sure that I am getting paid fairly for my amount of time.

Tim Church: Sure, I mean, I think that’s absolutely reasonable. And you’ve done a lot of the things in the past to get to the point where you are where you weren’t necessarily compensated. But I think it’s incredible all the different ways you’ve been able to monetize. And obviously, along the way, you’re providing a lot of value, whether that be organizations or education that ultimately gets in the hands of patients itself, which is really cool. Can you break down in terms of percentages — so all of these different things that you’re doing to monetize — can you break down kind of what is the highest in terms of bringing in the revenue? Without specific amounts, just kind of what percentages does speaking bring in versus advisory boards, consulting, CE, etc.?

Diana Isaacs: So I think speaking definitely brings in — if it’s like a big program where — like I’ll give you another example. Like at AADE, I had a bunch of presentations, but then I had this one presentation, it was sponsored by Abbott. And so the honorarium was like $2,000. So that’s something that just brings in money, I feel like quickly, especially if it’s a topic that I’m pretty comfortable with. Like another example was a CE article that I did, it was also on CGM, and that paid $4,000. And so those are topics I’m very comfortable with. So those are easy and much faster, I guess, to earn the money. Other things, like writing sometimes. You know, writing can take awhile, so especially if it’s a topic you’re less familiar with. So now I try to stay in the diabetes realm. But I actually, like last year, I wrote an article about hyperhidrosis, which was not as familiar to me as other disease states. So that one took a little bit more time. So I guess what I’m saying is it’s hard to completely break it down. But I think for sure speaking, advisory boards pay a lot, but those are really unpredictable. So you know, I could have two advisory boards in one month or I can go almost a year without an advisory board. It’s just, it really depends on the needs of the company and what area they’re targeting and everything. So I think it just really varies. Another thing that brings in revenue, though, which is kind of cool, is speaker training. So whenever you speak for one of these companies, they want you to get trained. And so like that, that’s amazing because you get your hourly rate for a bunch of hours and you’re not presenting or anything, you’re just learning. And so that’s pretty cool.

Tim Church: How does that work?

Diana Isaacs: Yeah, so like with Dexcom, I was really fortunate because I missed the original training, and two people came out to me and like just trained me for four hours. And like I earned $1,000 and it was amazing. Other ones, like I’ve been invited now for this year to go to a Dexcom and to a Novo training. And so those, I’ll be flying out to like to Florida in the winter, so it’s not like it’s so bad. I think the other one’s California. But it’s just basically like a day, and they’ll be paid an hourly rate. And the good thing about those is it will be with other people on their speakers bureau. So the opportunity to interact — but those are really interesting because you learn more about their product. And so I mean, I just find it’s incredibly helpful and interesting, and I get to earn money. So it’s really awe — I mean, it’s really cool to get to do that kind of stuff.

Tim Church: Yeah, it sounds like you’re getting just a tremendous amount of opportunities, which is really cool. Would you say that now at the point of where you are that most of these opportunities are already being asked of you where you’re not having to reach out as much anymore to get them in motion?

Diana Isaacs: So yes and no. So yeah, like fortunately with the pharma stuff, that’s been really exciting. But I think it goes both ways because I was pretty interested in Zerus and definitely let them know that I was interested in being a consultant for them. I’m definitely getting asked more, but I’ll tell you, there’s still things I apply for. So I think it depends the caliber of what it is. I am, fortunately, getting asked a lot more. But there’s certain things that I — I’ll give you an example, OK? So this isn’t so like — this makes sense. So like ADA Standards of Care, I would like love more than anything to be on the committee that develops the standards of care, OK? So that’s something you have to apply for. So that is something that I hope to apply for and if I were to get selected for something like that, that would be like a career dream. So I think it goes both ways, maybe my dreams are even higher now than they were before. But yeah, I still, I’m open to new opportunities and still — will still apply for things.

Tim Church: So looking back, now that you’ve obviously been able to monetize, you’ve been able to bring in extra income, what are you doing with the additional income that you’re bringing in with your side hustle?

Diana Isaacs: That is also a great question. So honestly, I just live my — I don’t want to stress about money, and I think bringing in the extra money allows me to live a very comfortable life without stressing. I work very, very full-time between my regular job and all these extra consulting opportunities. My husband, fortunately, is able to work part-time, which is good because then someone is home more for the kids and I feel like we have more balance, and he’s able to take care of some more of the stuff at home. So I think for us, it’s just really about not having this stress, being able to buy what we want, and then whatever extra, college funds, all that good stuff.

Tim Church: Cool. So how much time do you think in most weeks you’re spending kind of on consulting and all these other activities that are outside of your scope of your full-time positon?

Diana Isaacs: Yeah, that’s hard to quantify. I will say every Saturday, I completely disconnect and I am not using the phone, I’m not working, I’m like really just with the family. So I always have that day. And even Sundays, I try to really make family day. And I’m fortunate that I have a position that’s Monday through Friday so that I have my weekends off. I try really hard to do my extra work in the evenings when my kids go to sleep and like evening-weekend — or weekend-evenings. I try not to take too much time away when my kids are awake. It’s definitely a balancing act. I feel like I make it work. I don’t know. Maybe it seems like I work a lot, but I try — somehow, it all works.

Tim Church: I was going to ask you, what other tips do you have? Because I mean, you’re doing so much, you have a family, I mean, I think a lot of people when they think about the thought of taking on something in addition to their full-time job, it almost seems like it’s impossible.

Diana Isaacs: So I guess it’s built up like over time, so it hasn’t felt like oh, it’s this massive thing all at once except when I have an article that’s due and I waited until the last second to do it, which isn’t great. But I don’t know, I just, I don’t do — like I don’t watch TV really. I don’t go to movies, I try to minimize distractions. I’d like to say I’m perfect about social media, but I definitely like to post things on Twitter and stuff. But I try to really minimize the outside distractions. And when I am home with my family to really focus on my kids and not be distracted. And that way, when they go to bed, like I can really devote my time, you know, like whatever, from 8:30-10 on whatever I want to work on. So I just — and I think I just love what I do. I just love it so much that for me, it’s like my hobby, right? Like if someone else likes to paint or likes to do whatever, they would make time for that. So for me, this is kind of like my hobby. I just really enjoy it. And so I just — like I make time for it.

Tim Church: And it sounds like too that it sounds like your husband is very supportive in you doing these extra activities and things like that. And obviously, you said it makes it a little bit easier that he’s part-time. But would you say that he’s played a big role for you to be successful with all these other ventures?

Diana Isaacs: Oh my gosh, yes. Yeah. I mean, he’s the only reason that I can do what I do. He’s like really good at managing the kids, going grocery shopping, like he’s really on top of it, but also I have cleaning help. Like that’s a must. I definitely, I have cleaning help, a lot of cleaning help. So that’s another thing I use my money for lots of cleaning help. But yeah, I mean, you have to have that support. And he knows that I love doing this stuff, so he is supportive as long as I’m not out of town too much. And that’s the part I have to balance because all these speaking gigs, trying to just make sure — I like to be home on the weekends when I can and stuff. But yeah, it’s a balancing act, but it’s fun.

Tim Church: Well, Diana, this has been a great time. And obviously, it’s just cool to hear your passion in your voice. I mean, obviously, this is an area where you’ve become an expert and be able to impact not only clinicians but patients just in your full-time job but with all the work that you do. So what tips or suggestions would you have for others who want to become an expert in a particular clinical area?

Diana Isaacs: So this is going to go against all that burnout, resiliency talk that you hear. But just say yes. Like this whole thing about saying no to avoid burnout, I just, I disagree with it. And I think in order to be an expert, to have new opportunities, you’ve got to say yes. You’ve got to open yourself up to that because you never know, like when you say no because you’re worried, oh, it might overwhelm you, what you’re going to miss out on. And the thing is when you say no a lot, that really closes doors and people don’t want to ask you again. So I just, I like really encourage people to say yes or at least really, really think about it before being so quick to say no. And then the other thing is just look for those opportunities. Don’t expect that people are going to hand you things. You do have to work hard. It doesn’t happen overnight, but that’s OK. And just look for new opportunities.

Tim Church: Diana, if somebody wants to learn more about you and what you’re doing, what’s the best way to reach out?

Diana Isaacs: Yeah, so you can email me, you can find me on Twitter, @DianaMIsaacs. Yeah, I’d be happy to chat with anyone who’s interested in talking. So yeah, feel free to shoot me an email. If we’re going to one of the same meetings, we can meet up there. So yeah, happy to connect with anyone who’s interested.

Tim Church: Diana, thank you so much for coming on the podcast, sharing your story and your tips and suggestions. It’s been a lot of fun.

Diana Isaacs: Oh, you’re very welcome. Thank you so much for having me.

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YFP 131: Secrets to Building a Successful Side Hustle


Secrets to Building a Successful Side Hustle

Eric Christianson joins Tim Church to talk about his business Med Ed 101. Eric discusses his why behind beginning his side hustle, how it allowed him to drop down to part-time from his traditional pharmacist role and how it helped him accelerate his financial goals.

About Today’s Guest

Eric Christianson is a clinical pharmacist passionate about patient safety, geriatrics, MTM, long term care, and helping pharmacists pass their board certification exam. He is the owner of the blog at www.meded101.com, a valuable resource for practicing healthcare professionals and students alike who are interested in learning more about the practical application of clinical pharmacy. He has also created Real Life Pharmacology, a podcast designed to teach pharmacology and provide some insight into the practice of clinical pharmacy. He has 2 wonderful children and the best wife in the world.

Summary

When Eric worked as a pharmacist consultant he recognized problems in long term care and soon discovered a passion for promoting pharmacy education. He started blogging and sharing content on social media fueled by his passion for getting this information out there. Eric quickly grew an audience and officially created an LLC, Med Ed 101. After building trust with his followers by sharing free content for so long, he decided to try to monetize the content he was creating.

Eric failed with his first attempt at monetizing his work and dug deep into what his audience was looking for. He realized that they wanted clinical content, case studies and board certification practice exams. He created a practice BCPS exam and also wrote Pharmacotherapy: Improving Medical Education Through Clinical Pharmacy Pearls, Case Studies and Common Sense. Eric has since expanded content both on his website and on Amazon.

When Eric began his side hustle, he had $145,000 in student loan debt. He was able to use the income from Med Ed 101 to get out of debt. Eric also experienced two professional instances where he was concerned about his full-time pharmacy job and was relieved to have extra money come in from his side hustle.

Med Ed 101 eventually brought in enough income to allow Eric to step down from his full-time pharmacy position and take on a part-time pharmacy job instead. Although he was losing benefits and insurance, focusing completely on Med Ed 101 has provided him with a lot of freedom. He has more time with his children and wife and more control of what he wants to do.

Mentioned on the Show

Episode Transcript

Tim Church: Eric, thank you so much for coming on the show and for being part of this side hustle edition.

Eric Christianson: Hey, I appreciate the opportunity. It’s always fun to share experiences. And hopefully it’ll help give somebody out there a little entrepreneurial bug. We need it in the profession of pharmacy.

Tim Church: Definitely. Totally agree with you. Now before we kind of jump in, I know you’re a baseball fan because you mentioned you had to make sure that we recorded on a day that wasn’t a day when the Twins would be potentially playing. So question for you —

Eric Christianson: Yeah, that was a little bit of brutal optimism there. Deep down in my heart, I knew their pitching staff was not — they’re pitching staff isn’t where it needs to be. So if they could spend a little money and get a pitcher or two in, a starting pitcher, I think their prospects look a little better next year.

Tim Church: So question for you around that, Eric: If you were a major league relief pitcher, let’s say maybe for the Twins, what would your entrance theme song be?

Eric Christianson: Oh, gees. You know, I saw a really hilarious video. And I’ve got a couple little kids. If you get time, check it out on YouTube. But one batter had “Daddy Shark” going as his entry song. And the whole crowd just erupted and they were singing the whole song. I don’t know if that would be it, but gosh, that sure was funny to watch.

Tim Church: That’s good. I like that. Now, are you from Minnesota?

Eric Christianson: Yeah. Yep, grew up here. I was actually in North Dakota but moved when I was about 5, so yeah. Pretty much been here and grew up most of my life in Minnesota.

Tim Church: OK, great. Well, one of the reasons I was so excited to get you on the show is that you’ve been able to do something that I think many pharmacists out there are aspiring to achieve. And that is generating enough revenue from your business or side hustle so that you no longer have to work full-time in a traditional pharmacist role or just rely on that one sole income source. So in other words, you’ve been able to take your side hustle to the next level. And before we get into how you did that, I want you to talk a little bit about the business and how you’re serving others.

Eric Christianson: Yeah, so I mean, just I guess starting a little bit from the beginning, I mean, I really had no intention I guess of making it a business. And I really just wanted to help educate long-term care nurses, things of that nature. And I think honestly that helped a lot that that was my mindset, that I was really just going to be here as a pharmacist online, providing education to people. And I think that initial mindset really helped me gain a lot of trust with people. And I don’t know, maybe I’m just dumber than everybody else, but I did the blog essentially for free — or paying to have a website, that type of thing — I did the blog for probably a year or year and a half before I really even pursued income and that type of thing. So I think — I don’t know if that was an error or a stroke of genius or what, but I think that that level of trust between me and the readers of the blog was really developed over that time period. And I think that really helped when it came to obviously trying to promote something and sell something. That was kind of a unique development in the initial stages.

Tim Church: So Eric, what’s the name of your business?

Eric Christianson: Med Ed 101.

Tim Church: And how would you describe kind of the basic function of the blog, the website? And how does Med Ed 101 make money?

Eric Christianson: Yeah, the basic function I guess of the website was to promote pharmacy education. And you know, I mentioned that initial development. I recognized a lot of problems in long-term care. And I would see these problems as a consultant pharmacist in long-term care facilities, I’d see these common recurring problems over and over again. And you know, I just kind of thought to myself, wouldn’t it be nice if I could share this on a big, open platform and everybody that I consult or facilities that I consult to could actually see it and learn from it so I don’t have to write all these recommendations and patients’ lives can be improved and better and patient safety and all that good stuff? So that’s really kind of how it initiated and developed. From that point, I really recognized through also social media channels, a Facebook page and Twitter feed, I recognized how many pharmacy folks were really coming for these case studies and things of that nature because the clinical thought process, especially if you’re in a busy community store, that type of thing, I mean, you’re not seeing lab work, you’re not seeing some of the other things that go into developing the clinical thought process. So definitely a lot of young pharmacists, pharmacy students, contacted me and said, “Hey, we just really appreciate these real-life scenarios, we appreciate kind of seeing what might happen, what can happen, common drug interactions,” and all those sorts of things. So I really developed an audience pretty quickly just by sharing some of those case studies on social media and obviously on the Internet through my website.

Tim Church: Obviously, there’s a need for great clinical content. And you saw that through the various channels that were there. How did you start to monetize that? And then what are the specific revenue sources that you have?

Eric Christianson: Yeah, so this is a story for basically any entrepreneur and you know, I was probably a little embarrassed by it the first time. But basically created this PDF, “30 Medication Mistakes.” And it was a five- or 10-page PDF, that type of thing. And I thought it would be kind of interesting for people to read and recognize and some patient safety factors and important things there. And from that PDF, I was just like, “Ah, I could probably sell this, make a little bit of money.” So I think I put it up for sale for $5 or $10, you know, just a digital download type thing. I probably had 1,000 email subscribers, something like that. And I sold absolutely 0 in about three months. And so that really kind of brought me back to the drawing board. And it really allowed me to kind of ask the question, OK, what do people actually want? Why are people coming to my website? And I looked back through some of the emails I had gotten from people and things they were struggling with, things of that nature. A lot of it was the clinical content, you know, case problem solving, that type of information. And also, I had posted a couple of times about my experience and the challenge of obtaining board certification. And between those two things, my first two basically products, one was a practice exam for the BCPS exam, and the next thing I believe I released was basically a compilation of a lot of my most common case studies that you might actually see in clinical practice. And so one was a book on Amazon. And one was basically a digital download on my own website, a PDF file. And so those were really how me looking into generating revenue first initiated was through those two sources. Since that time, I’ve obviously expanded on the amount of content I have on my website. And I’ve expanded the amount of content I have on Amazon as well. And now, with the help of Tony Guerra, who I think you know, he took some of my early clinical books and turned them into audiobooks. And it’s a really cool medium, you know, that tons of people are using, obviously people probably that are listening to this podcast right now. And that’s — in my mind, that’s probably going to be another source of revenue and income in the future that I’m definitely going to focus on a little bit.

Tim Church: That’s really cool, Eric! And I like how you kind of started with what some people could look to as a failure or learning process when you kind of got crickets on your first product. And I want you to just talk about that a little bit. How did that feel coming out with something and first asking for money for something that you had created and then to really get no response? I mean, what did that feel like and how did that change your mindset going forward?

Eric Christianson: Yeah, it was definitely a tough thing. And I think when I look back on it, I think I probably put that up, and I think I probably waited two or three months. And obviously, like I said, didn’t make a sale. Honestly, I think it prevented me from taking the next step for a little while, just thinking like, oh, you know, maybe I don’t have what it takes or maybe I don’t know what I’m doing or what people want, that sort of thing. And yeah, it’s one of those things where you look back at it and it’s like, what if I did quit at that point? And not to be able to have some of this bigger income certainly I have now from the website and Amazon and book sales. You definitely think about that. So if you’re starting something, expect that you’re going to run into failures. I mean, it’s just inevitable when you’re doing something new. And that’s a really hard thing for pharmacists. I know it was a really hard thing specifically for me. You know, I did relatively well in school, I passed without issues. You know, when you’re a pharmacist and you talk to me, generally they’re like, “Oh, you must be really smart.” So it’s a common thing to feel that way. And when you talk to others and then you look at the business side of things and yeah, you have this totally epic failure, at least what it felt like at the time, but yeah. You just have to continue to keep pushing forward and try to learn from it as best you can.

Tim Church: One of my favorite books is John Maxwell, called “Failing Forward.” And kind of one of the essential quotes of the book is that the difference between average people and achieving people is their perception of and response to failure. And I think that’s such a key thing because like you mentioned, that it’s easy to sort of give up and to take that and to look at it as wow, I don’t know what I’m doing, how am I going to start this business, how do I start from nothing even though I have some of these subscribers? And really look at that and take that and say, “OK. This was an experience. I was OK to go out and fail. And actually, that failure may have been beneficial moving forward in what you had developed down the course.” And I know that that’s really been helpful for me is to kind of look at that. But I think you really hit that there is that pharmacists in general do not look at failure always as a good friend or as John Maxwell says, looking at failure as your friend.

Eric Christianson: Yep. And that’s one thing I’ve done a couple talks recently at colleges of pharmacy. And one of the big things that I tell them and that I try to teach them is we’re so ingrained as pharmacists when we think about failure, instantly what comes to our mind is somebody gets hurt, somebody dies, or you get sued. I mean, those are the things that come to your mind when you think about making a mistake as a pharmacist. And I mean, that is absolutely I think ingrained into you throughout school and throughout your work life. And that is not an entrepreneurial mindset for sure.

Tim Church: No. No, definitely not. Now, could you break down the different products and resources you have right now? And kind of break down those percentages in terms of what’s bringing in revenue.

Eric Christianson: Yeah, so it definitely is a little bit variable, I will say, because I’ve got some NAPLEX content, so obviously this time of year, there isn’t a ton of people taking NAPLEX. So that kind of drops off. And then you’ve got spring and fall testing periods for board certification materials. So you know, prior to the exam, 2-3 months prior to the exam up until the exam, that can kind of come and go a little bit as well. Amazon, I would say is probably in the ballpark of 40-50% of revenue. Website’s probably in that ballpark. And then Audible as well. And you know, I would say I work probably 2-3 days a week as a pharmacist still, doing some consulting and things of that nature, which I love to do and I always anticipate doing that. So that’s definitely a piece of the income equation. But just that side income to be able to step away from your full-time job and to be able to — this summer, I spent a lot of time with my kids going golfing and doing different activities that they like to do. And I mean, that’s really what I’m after as far as income and that type of thing. Initially I will say, I was — which is why I listen to you guys once in awhile and I love your stuff — I was $145,000 in debt I think, I think is what it started at. And yeah, I used any side income basically from the business to pay off, pay down on that extra debt, so that helped me get out of debt much, much sooner than I ever would just working kind of my standard, full-time pharmacy job. So always got to have something on the side. I do want to also mention I had two professional instances in my career where I did absolutely feel like my job was a little bit in question. And those were two big stimuli for me to continue to do the blog and to continue, keep going, creating different content and selling different content. So I don’t think I would be here talking to you today if it wasn’t for those two instances either. So that’s another important point I think to make to students, to young pharmacists, and especially in this job market too, especially when we’re talking about community and retail pharmacy. There is not a job that is secure. And creating that Plan B, starting that Plan B, there’s no reason not to do that today. And so I think that’s a really, really important thing to remember.

Tim Church: I definitely agree, Eric. And I think that no matter how secure a position that you think it is, there’s always a potential for change, whether that be political changes, just job market changes in general, so having an additional side income or just some other way that you’re bringing in revenue, is a really smart thing to do. Now in your particular case, I think you brought up some awesome points. And I think many people would agree that that side revenue has helped you pay off your student loans but also, it’s given you something that I think is probably the most important thing when we talk about side hustles and what this extra income. And for you, it sounds like what it’s boughten you is time. It’s really given you the time and the freedom to do some of the things that you want to do, such as spending more time with your family, with your kids. Talk a little bit about how you made that transition. Because as I mentioned in the beginning, you were able to go from a full-time, traditional pharmacist role now to only doing a couple days a week.

Eric Christianson: Yeah, that — honestly, that was probably one of the hardest professional conversations I’ve — and decisions that I’ve ever made. You know, I worked seven years long-term care consulting, assisted living consulting, a little bit of MTM kind of an independent consulting group, and then I joined on with a health system and worked as a clinic pharmacist, basically, right embedded in the primary care office. So really unique experience, great experience. And I mean, for a lot of pharmacists, that is absolutely the holy grail of jobs. And I did enjoy that job, but it was consuming a huge chunk of time. When I factored in the time that I needed to put into the website and blog, it just got to a point where financially it made sense to try to make that leap. One other factor that went into that was my wife, who stayed at home with our kids, she was going to go back to work as well. So there’s kind of a conglomerate of things going on that made it a little bit more tenable to make that jump. But that was a very, very difficult decision for sure. And you know, I maybe waited on it longer than I should have, you know, looking back. But I think, again, that’s kind of that pharmacist mindset being a little bit more conservative about things and trying to cover all your bases. But very, very difficult decision for sure. But definitely at this point do not regret that decision.

Tim Church: So what did your wife say when you first brought that to her attention?

Eric Christianson: She was pretty calm about it, actually. You know, she’s very, very trusting in my judgment and my decisions. She’s pretty level-headed when it comes to that type of stuff. I will say one interesting story. It’s a story I’ll never forget because it’s actually the first time I actually made $1 off the website. So I did this BCPS practice exam. And you know, I think I charged like $10 for it or something, you know, just ridiculously cheap because I wanted to make sure I sold some. And I remember seeing those first couple sales come through, and I was just absolutely jacked up. You know? And if I think about all the hours I spent and if I paid myself an hourly pharmacist wage for those hours, it’s like yeah, this doesn’t make any sense at all. But just the idea that I could go out for supper and potentially make $10, that was the coolest thing in the world to me, at least at that time. And so I made this, I’m so excited. And I’d been doing this, again, for a year and half, hadn’t made $1, and I’m doing it mornings, evenings, weekends, whatever. And I go to my wife, and I said, “I told you. I told you I wasn’t crazy.” And just instantly, as calm and cool, as collected, she says, “Well, you’re kind of a little bit crazy.” And I’m just like, like looking back at that, that is so true. I mean, you have to be a little bit crazy — and some people might call it crazy. I mean, looking back, it’s like, I mean, it was passion and it was energy for pharmacy and what we do. But that was just kind of a fun little story that I’ll never forget with my wife and the process of actually trying to generate some income off of the side business.

Tim Church: So at that point, when you had approached her and then actually finally made that switch and dropped the hours you were doing at your consulting job, how many months had you been consistently generating revenue from the site and from the books and resources?

Eric Christianson: Yeah, it was — I started making test prep material and books, I think it was early 2015, maybe in February-March 2015. And I, you know, definitely had seen that grown year-to-year. And so there was definitely a little bit of a track record. And I cut back out of my job 2018, just last year here. So I mean, I had at least a two-year track record, probably closer to three of showing that yes, you know, I’m seeing more people come to the website, I’m seeing more sales over time as you gain credibility and reputation and customer referrals and all that sort of stuff. So you know, they always talk about the overnight success, and that’s just not the way it works for the majority of people. And certainly my story is no different from that. It’s been a slow growth over time. So my wife was able to see that and say, “Hey, what could I do if I actually had more time to work on some of these other things, other projects, that I’ve wanted to pursue?”

Tim Church: So when you made that move, one of the practical questions that is popping up into my mind right now is did you lose your health coverage and other benefits that you had access to?

Eric Christianson: Yeah. Absolutely. That was by far the hardest decision with a family of four and definitely one that it’s like, oh my gosh, we’ve got to make sure that that expense is covered now. I think that probably prevents a lot of small, a lot of people from quitting their full-time job is health insurance coverage. I mean, it was $1,200-1,500 a month hit that we now have to come up with that money that we’re not getting through our employer.

Tim Church: So that wasn’t offered through your wife’s employer, then.

Eric Christianson: No. Nope, nope. Exactly. So yeah, that was a big hit that we basically had to make sure that we could cover. One other thing that I did — because I had paid off my student loans I think in 2017. So as a family, I definitely saw that there might be some point in time like that I want to cut back, so we definitely saved up some cash as well, you know, just worst-case scenario where I couldn’t figure out part-time work as a pharmacist for a little while or the business isn’t going as good or whatever the case might be. We definitely did stockpile some cash too, just to be on the safe side.

Tim Church: So Eric, you talked about the side income has helped you pay off your student loans and then eventually has allowed you to drop down to just a couple days a week. What are you doing now with the income each month that you’re receiving from the business besides just kind of taking care of monthly expenses, health insurance, that kind of thing.

Eric Christianson: Yeah, definitely life expenses for sure, making sure that’s taken care of. I am investing a little bit more in retirement than I used to be investing. So that’s definitely another thing there. You know, one thing as an entrepreneur you’ve got to pay attention to is taxes too, doing quarterly estimates and that type of thing. It’s like, you’ve got to pay attention and keep track of that. I think it was a year or two ago, I don’t know if I didn’t anticipate or didn’t do something the way I should have in my job change, but yeah, we ended up in $10,000 or $15,000. And it’s like yeah, if you’re not prepared for that or anticipating for that or planning for that, that’s definitely a good chunk of money to come up with for sure. So you know, the planning, strategizing, figuring out what to do. I have spent a little bit of money getting people to help on certain projects, that type of thing, as far as the business goes. I do market and advertise some on Facebook, specifically. I have been tempted to try other platforms as far as advertising goes, but I feel like I’ve probably got the best sense for doing Facebook ads, so I’ve done some of that with some of the extra revenue. We’ve paid down a little extra on our house as well. So I think that’s a goal for us maybe longer term, later in life. Minnesota and the north is very, very cold. I don’t know if you knew that or not.

Tim Church: I’m from Ohio, so I know a little bit about that, yeah.

Eric Christianson: Yeah, yeah, exactly. So yeah. I mean, plans certainly change, but our in-laws live down in Arizona, and it’s definitely nice visiting them in the middle of winter, I will assure you of that. So that’s definitely crossed our mind too to kind of plan and prepare for that when the kids are growing up.

Tim Church: So how are you investing your money? Is it through a brokerage account? Or did you open up a SEP?

Eric Christianson: Yeah, so I’ve got through my part-time employer, I’m actually investing into their plan. They allow me to do that with some of the income that I make through their organization. So that income doesn’t run through my business. I’m basically their employee. So I do a lot of my investing through that income just because it’s pretty simple and pretty easy. So that’s just through their retirement account. That’s the primary mode. Also, HSA, Health Savings Account, making sure that I’m putting some money into there as well. Those are the two biggies.

Tim Church: Yeah, and the HSA I think is a great — what has been termed a “Stealth IRA” or retirement account because there’s a lot of tax advantages to that but also just a great way to cut down your Adjusted Gross Income while you’re putting it into aggressive funds without even considering it to be used for health expenses in the near future. So you’ve got kind of a couple options with it. So definitely I have one through my employer as well, and I think it’s a great option.

Eric Christianson: Yeah, definitely.

Tim Church: So who do you have that supports the business, whether they’re contractors, employees? Can you break down, tell me a little bit about that?

Eric Christianson: Yeah, so I’ve got a gal that really helped me get the main MedEd101.com website up and going as far as some of the sale of digital products. Initially when I first started, I think that was part of the joy with it was figuring out things. It was maddening at some times, and sometimes you waste a little bit of money not knowing what you’re doing. But I think, you know, as pharmacists, we’re kind of learners. And we like to appreciate and learn some of those things. As I generated a little bit of income, definitely a website person to help out with stuff, I’ve had various odds and ends as far as book covers and design people and things like that. And then my wife has been a fantastic resource. She’s an administrative assistant by background. And you know, just formatting, editing, stuff like that, she’s been an amazing resource and helped the business a fair amount for sure. I wouldn’t be here without her either.

Tim Church: And then do you work closely with an accountant, an attorney?

Eric Christianson: Yeah. Yep. I’ve got a personal accountant here in our smaller town. And then attorney work, yeah, setting up the initial LLC and the other business documents, that type of thing, I worked with an attorney a couple times as well.

Tim Church: So Eric, as a fellow business owner, especially one that is involved with website and publishing content, I feel like there’s a million things that you could be doing at any given time. And just there’s always something that you could be doing. How do you spend most of your personal time in the business at this point?

Eric Christianson: Yeah, I’m typically creating content, whether that’s a blog post, a podcast, a video recording, a book. That’s really what I’ve grown accustomed to doing. It’s actually what I like doing, for the most part, at least a little bit every day. I can’t create content eight hours a day. That’s just insane to be able to — at least for me — to be able to try to do that. But it’s pretty amazing what you can accomplish with 2-3 hours of good, solid, focused work in creating content and getting stuff done and how much you can accumulate by doing that day after day after day over a period of years. So definitely I’m the Chief, I guess, Content Creation person. And you know, that’s my biggest asset and I guess what I do in the business primarily to keep it running.

Tim Church: And then do you pass that on once you’ve created that to somebody to help put it on the website, maintain that, and then promote it on social media? Or is that also you doing that?

Eric Christianson: Yeah, so with social media, I do use a tool called Meet Edgar. It’s an automation system. So that is part of my expenses. I think it’s $50-100 a month, somewhere in there. So that’s definitely a significant cost, a little bit of a cost. So that automates a lot of my posts and puts stuff out periodically. That’s the primary tool. I used to do that rather than sending it to a person or whatever. Yeah, I’m a little bit more on the automation side and trying to harness those technologies as much as I can.

Tim Church: Anything else you’ve done in the business to help automate processes and take time — reduce the time that you’re involved with it?

Eric Christianson: Yeah, so I recently — it wasn’t anything I did. It’s the hosting platform for my podcast. They actually provide transcriptions of my podcast — and maybe you guys certainly get all that done or get it done for free or pay somebody or whatever too — so that is definitely something I’m going to look at and maybe try to use going forward, just to help with utilizing some of the content that I’ve created, maybe organizing it a little bit better, making it look a little bit nicer and that type of thing.

Tim Church: Well Eric, you’ve certainly shared a lot of great information. And I think it’s just awesome advice for people wanting to get started with a side hustle or a business. And I think the bottom line is you just have to start and you have to not be afraid of failing. But I wanted to ask you, you sent me a photo of you giving a presentation. And the title of that presentation was, “Secrets to a Successful Side Hustle.” And I wanted to ask you, what is the summary of that? And what advice would you give to other pharmacists or even students out there who have an interest in entrepreneurship or starting a business?

Eric Christianson: Oh, that’s a tough one. You’re asking me to sum up an hour-long presentation in about 30 seconds here. Probably one of the main points I remember telling folks about at that presentation that I think resonates a little bit is to really find something you enjoy because then it doesn’t really feel like work. And that’s really what I did with the blog initially. I mean, it was just for fun and just because I enjoyed doing it. And once you get into a public space, public forum, people start coming to you with all sorts of different ideas and things you should do. But it really takes — like I think you had mentioned earlier — it takes that initial action of actually doing something to figure out hey, do I actually enjoy this or not? So keep trying new things, think about if you’re at work, what do you really like to do at work? When do you notice that the time just flies in the day when you’re doing such and such? Think about those times where you’re happiest and you’re enjoying being able to be productive and getting things done at work. And try to recognize that and then utilize that as an area where you can be an expert, where you can share information if it’s something that you’re excited about and passionate about.

Tim Church: Any books or resources you would recommend for those interested or wanting to get started?

Eric Christianson: Yeah. I would say the podcast that really got me going — I think I listen to it probably every day — was “Entrepreneur on Fire.” I don’t listen to it much anymore, just because you hear the same recurring themes over and over and over again amongst successful businesspeople/entrepreneurs. And it’s really that sticktoitiveness, keep going, keep learning, keep applying, keep changing direction, continuing to evolve and adapt. But really that action piece is the No. 1 piece of advice. And that’s probably the main message I got from that podcast.

Tim Church: Well Eric, thank you so much for coming on the show and sharing your story, tips for building a successful side hustle. I know that our audience is going to be better off hearing your story and sharing that. So we really appreciate that. What’s the best way for someone to reach out to you to learn more about you or what you do?

Eric Christianson: Yeah, you can hit the “Contact” button at MedEd101.com. That’ll allow you to send me an email directly. I’m pretty active personally on LinkedIn, so Eric Christianson, PharmD pharmacist. You can find me on LinkedIn and connect with me there. Those are probably the two main places where you’re probably going to catch me the easiest.

Tim Church: Thanks again, Eric.

Eric Christianson: No problem. It was an honor to be on the podcast.

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YFP 126: Going Beyond Six Figures Through Medical Writing


Going Beyond Six Figures Through Medical Writing

Brittany Hoffmann-Eubanks, Founder and CEO of Banner Medical, joins Tim Church to share her side hustle journey in creating a company that’s on track to hit over $100,000 in revenue and what she did to get to this point.

About Today’s Guest

Brittany is the Founder and CEO of Banner Medical and a native of the Chicago-land-area in Illinois. Banner Medical combines her passion for writing with her medical background as a pharmacist; with the goal of improving patient outcomes through educating healthcare providers. Brittany is an expert in the development of needs assessments, continuing education, and scientific writing. With over a decade of experience in community pharmacy, Brittany tailors and delivers medical communication projects in any topic area in a balanced, accurate, and timely manner.

Brittany earned her Doctor of Pharmacy and Masters of Business Administration degrees from Drake University College of Pharmacy & Health Sciences in 2012. After graduate school, she completed a Post-Graduate-Year-1 Community Pharmacy Residency where she earned her teaching-and-learning certificate, dedicated herself to patient-centered pharmacy care, and learned the business of pharmacy. It was during her residency year that Brittany discovered her passion for education and desire to be an entrepreneur.

After residency training, Brittany accepted the role of pharmacist in charge and clinical pharmacist within the community pharmacy setting. Brittany also precepts student pharmacists helping to prepare them for their future careers as pharmacists. In her free time, Brittany loves to travel to new and exciting places with her husband and family, playing with her dogs, and singing. She is also very involved in her State Pharmacy Association where she serves as a Board Member, Journal Editor, and Co-chair of the Public Relations Committee. In 2018, Brittany was awarded the Edmond P. Barcus Distinguished Young Pharmacist Award for her service to the Illinois Pharmacists Association.

Mentioned on the Show

Episode Transcript

Tim Church: Brittany, thanks for stopping by and for being part of this side hustle edition.

Brittany Hoffman-Eubanks: Thanks so much for having me. I’m really excited:

Tim Church: Well back in Episode 116, Tim Ulbrich talked with David Burkus, author of “Friend of a Friend.” He discussed how one and can and should grow their network and how to build key connections. And this really reminded me of how we met and ended up doing this podcast today. So do you mind talking about that story?

Brittany Hoffman-Eubanks: Sure. I was just looking to put my business into place with a website and kind of make everything official after unofficially starting my side hustle about four years ago. And so one of my connections that we met through a mutual friend, someone that I had been working with on my business. And I was like, “Man, I really want to get my website together, have a place where I can put my portfolio for prospective clients. Do you have any ideas?” And they’re like, “I have a person, and they’re a pharmacist.” And I was like, “Oh, that’s fantastic. Who knew that pharmacists do websites on the side?” So we were connected and got to talk to you, and I was really excited because you understood my vision of what I was looking for for the website and just turned out to be an awesome partnership. And I’m super excited with how things turned out. And we started talking about my business, and here we are in the podcast.

Tim Church: Yeah. It’s really fun. Is it OK if I mention who our mutual connection is?

Brittany Hoffman-Eubanks: Oh, for sure. I don’t think he’d mind.

Tim Church: Yeah, shoutout to Alex Barker. I think he knows everyone in the pharmacy profession, by the way. But a great guy and really cool opportunity that we got to meet through him. So Brittany, talk about your full-time pharmacist position and also your career path.

Brittany Hoffman-Eubanks: So as a full-time pharmacist during my day job, as I like to call it, I’m a community pharmacist, and so I work as a pharmacy manager and clinical pharmacist with a large community pharmacy chain in the Chicagoland area. And as part of that role, I kind of wear a couple different hats of making sure that my pharmacy is running, we’re able to take care of our patients as well as managing my team and one of my passion of working with patients. So I do a lot of MTM with patients, Medication Therapy Management, hyperlipidemia management, diabetes, especially, and then also probably my favorite part of my job as a community pharmacist is the immunizations. So I’m travel health certified, I get to see people going all over the world. Traveling is a passion of mine, so that’s kind of the day-to-day job that I have in pharmacy. And then in terms of career path, I think I took probably a pretty traditional route. I went to Drake University College of Pharmacy and Health Sciences, got my Doctor of Pharmacy degree. Also did their dual program where I obtained my Master’s in Business Administration. And then after I graduated from college, went on to do a postgraduate Year 1 residency, community pharmacy residency, with the company that I now work for as well as Midwestern University in Chicago. And I loved my residency year. It was an opportunity just to immerse myself in direct patient care, learn about the business of pharmacy, do some ambulatory care projects on the side as well as obtain a teaching and learning certificate. And that’s kind of where my nontraditional pharmacy career that I have now happened by accident during that timeframe, my residency year. I didn’t jump into it right away. I just decided to work for a little bit and really just get my feet wet in being a pharmacy manager, helping take care of patients, really just immerse myself in community pharmacy before moving onto what I’m doing now, which is medical writing.

Tim Church: Yeah, so talk about how did that happen? Where did that vision come from during your residency and as you transitioned into your community pharmacy role?

Brittany Hoffman-Eubanks: Yeah, when people ask me about this story, I always share with them that my becoming an entrepreneur happened by accident. It was in my residency year that we were asked to write a continuing medical education written piece for a pharmacist to help educate them on a topic. And as part of that process, I received some really good feedback and just kind of got the wheel moving, so to speak, of is this something that I’m interested in? Could this be something I could do in the future? How can I earn some additional money on the side in addition to what I’m doing in my day job? I love to travel, as I said, and all of those student loans, trying to get rid of them as quickly as possible. Through that process of just trying to figure that out, what I was doing, what I wanted to do, I had a friend that I had worked with — I guess I should colleague that I worked with during my residency year who moved onto a different position with a large national publication, so I just reached out to them and said, “Hey, how do you get your content? I’m really interested in potentially doing more of this type of work. Do you take writers? Or how do you obtain new writers?” And that really kind of started it. And from there, I did my first project and just kind of morphed into what I am doing today with my full-fledged business.

Tim Church: So was that your first paid gig where you just reached out and you were looking for opportunities?

Brittany Hoffman-Eubanks: It was. And actually, it’s kind of a funny story because they didn’t give me just one project. They actually gave me two to work on simultaneously. So it was a fun challenge, and actually the first project they’d given me to write about was a topic that I wasn’t an expert in. It was actually on pet medications, so it required me to just take a step back, think about what angle I wanted to attack it from, and go from there. It was such a great experience. It was an opportunity to get my feet wet and just really figure out how I wanted to move forward with this type of writing that I was interested in.

Tim Church: So how did that feel getting that first gig and actually getting paid to do it?

Brittany Hoffman-Eubanks: It was exciting. I think oftentimes, we think about how can I make money on the side? And is it going to be worthwhile, so going to be that return on investment? Or what’s the opportunity cost? You know, what else could I be doing if I wasn’t doing this right now? And I think for me, the biggest piece of it was is that all it required was my computer and my time at that time. So it was easy for me and kind of exciting to be like, OK, I can go to my day job, come home, fit this into when I have time to do this and make some extra money on the side that I can either use to put towards traveling or I can add some extra funds to paying off my loans quicker.

Tim Church: And so those were the two biggest motivators, at least initially, for kind of pursuing this side hustle?

Brittany Hoffman-Eubanks: It was for me. I knew — just to back up for a second, I came out of school with probably close to $250,000 in student loans, which is a ginormous amount of student loans. I’d done an undergrad degree first, so four years before I went on to Drake. Drake actually has a six-year program, and I didn’t go that route. I did the four years and then the additional four years. And in addition to that, added on a second degree where I obtained the MBA program and stayed during the summers to achieve that dual degree by the time I finished pharmacy school. So I knew going into that that it was going to be a lot more burdensome in terms of the cost factor. And so you know, having had that background with the MBA degree, looking at those amortization tables and the compounded interest, I was like, I’ve got to do something to get rid of this student debt as soon as possible. So I think paying that off as quickly as possible and having some extra funds was a big motivator in the beginning.
Tim Church: So your medical writing business is called Banner Medical. Talk a little bit about what your business specifically is all about, other than obviously we know it’s medical writing, but what is your mission of the business? And who are you specifically serving?

Brittany Hoffman-Eubanks: Yeah, that’s a great question. I appreciate you asking that. It’s probably the first question that everybody asks me of what is that? Or what is medical writing? So by now, I’ve gotten very good at explaining to people what it is that my company does. But essentially, if you were talking to a lot of the pharmacists out there and maybe other healthcare providers who are listening in your audience, it’s pretty simple. We write about medicine. And there’s a lot of different areas that encompass medical writing. It could be continuing medical education, it could be education grant writing, which is something that we now are experts and something that we’re typically sought out for with our writing for a needs assessment. It could be on the editorial side where we’re writing about maybe a new drug that came out or something that’s going on in the healthcare field. Or maybe even the academic scientific writing where we’re helping a company put together their manuscript for a journal submission or working with a pharmacy organization to spread some of their grant work that they’re doing. So it’s a wide, encompassing field. There’s a lot of different types of medical writing. And every business is going to excel in certain areas and have a focal point. So for me, the mission of my company, it really is a business-to-business company I would say. We serve many other businesses, helping them, whether it be through educational grant writing with the needs assessments that we do, but ultimately, it serves the patient and the healthcare provider in the end. And so for me, our mission at Banner Medical is really just to optimize that knowledge to improve clinical care or clinical outcomes for the patient. So if you think about it, when we’re writing these types of medical writing pieces, our goal is to help healthcare practitioners and clinicians, especially, make better clinical decision-making or improve their clinical decision-making so that they can ultimately take better care of their patients and improve the outcomes for them in the long run.

Tim Church: I love that, Brittany. And I think that’s so cool the way that you articulated that because it’s not just about the education piece of the healthcare provider but ultimately, what is going to happen as the end result of that education? I think that’s so great the way that you put that. So the businesses that you’re working with, is this primarily have pharmacists as the audience in terms of who’s reading this content and taking charge? Is it other healthcare providers? Is it a mix?

Brittany Hoffman-Eubanks: So when I first started my business back in 2014, it was exclusively for pharmacists and pharmacy technicians. And now, since we have been moving forward with expanding the business, we’ve moved into other clinicians as well. So for example, we now service regular physicians, we do non-physician clinicians like Physician Assistants, Nurse Practitioners, really have gone beyond exclusively writing for pharmacists, which is really exciting for Banner Med because it opens up our opportunities, additional revenue streams and additional access to helping improve outcomes for patients.

Tim Church: Now you talked about initially reaching out and getting that gig or actually two gigs in the beginning. But how difficult has it been to acquire new clients and getting them on board? I mean, was it easy after you did the first couple and then you didn’t have to market as much? Or is that a constant thing that you’re doing in terms of getting new business?

Brittany Hoffman-Eubanks: I think maybe the answer to your question is two-pronged. So when you have your own business, you spend a good amount of time working in your business as well as working on your business. And I think finding the right balance of that is really important, especially as you’re trying to grow and obtain new clients, especially. I think the biggest thing for Banner Med and me specifically is that it really comes down to the relationships that you build. So you always have to be making sure that you’re reaching out to new people, be it somebody you know through your network, just always be ready to have that elevator pitch, so to speak, when you meet someone knew and they may be interested or how you can help them or provide value to them for what they’re looking for. So to answer your question, I think for me, I spend a good amount of time each week looking for new prospective clients, now gotten to the point where a lot of times, people are reaching out to us now, seeking out our help, which is great. It’s taken a bit of time to get to that point, but I’m excited to be moving into that arena rather than having to constantly hustle to find new clients. And we have a group now of great core clients that are repeat business, which is fantastic because it makes it a little bit easier to not have to always constantly be looking for new work all the time to build those revenues. So to have repeat customers is really helpful too.

Tim Church: What percentage of the business right now is repeat customers?

Brittany Hoffman-Eubanks: I’d say about 80% at this point in time is repeat customers. And then the other 20% is new clients that we’re working with that have either been referred to us or that we’re actively seeking out.

Tim Church: Great. So talk a little bit about what is the earning capacity for doing medical writing? Because one of the things that you mentioned was basically what you needed was a computer and you needed some time. And obviously, it takes time to do what you’re doing. But talk a little bit about how much you’re charging for the different pieces of medical writing and the different focus points that you have.

Brittany Hoffman-Eubanks: So the revenue piece of it, of what you’re able to earn is to a degree, kind of limitless. It really just depends on the clients that you’re working with, what types of projects they’re asking you for as well as experience. And all of that kind of goes into the whole thing together. So there isn’t really like a strict fee that we charge for every single project. It’s always going to be individualized. But to give you an example, for this year alone, we’re on pace to be six figures this year, which is amazing compared to where I started when I had my first gig that I told you about where I was doing two projects and made about $700 for those two projects, which at the time was fantastic because it took me about two weeks to write the two different projects that I was asked for, and I made $700, which was really exciting at the time. Now, fast forward, it’s been a growth process over the last few years where I think year 2, we did a little bit over $10,000, and then it’s just gotten — the revenue stream has gotten bigger and better. So really, it just depends on how much you want to put into it and what types of projects you’re willing to take. And the other piece too that I think is really important, especially for new, aspiring writers is not to undervalue your work. You know, oftentimes, we’re afraid to charge a certain price or tell a client or a vendor that oh, I think this project’s probably going to be about $1,000 based upon the amount of work that you’re asking for and what you need whereas someone who is maybe less experienced and maybe has that fear of oh, $1,000, like can you afford that type of thing, they may undervalue themselves and say, oh, I’ll do that really big project for you for like $450. But at the end of the day, you’re putting so much time and effort into it that it doesn’t make financial sense. So it’s important to consider the type of work you’re doing, what’s being asked of you, and one of the biggest places I always start is I ask the client, do they have a budget? And what have they budgeted for this particular project to kind of help me determine if I’m going to be able to work with them within their budget or if we need to negotiate and talk about what the project fee should be.
Tim Church: Now Brittany, I’ve got to step back for a minute because you just nonchalantly said that your side business is earning about six figures on pace to do this year, which is really exciting and just pumps me up. And I think a lot of people who are listening are probably thinking, that’s incredible, No. 1. But No. 2, how have you been able to do that?

Brittany Hoffman-Eubanks: Well thank you. It’s been pretty exciting to see the business grow. And I’ve spent the last year working really hard to scale it. And frankly, I think a lot of the credit I would have to give to just working with Alex Barker through the coaching process for my business. And I’ve talked about this previously, but I think for me, it was initially when I thought about the idea of hiring a business coach, it seemed a little silly to me at first. But then I sat back and thought about it and I was like, well, we have coaches for a lot of other things that we do in our lives, sports, especially. So you know, why not for a business? This kind of makes sense. And initially, probably like a lot of other people who’ve maybe considered doing coaching wonder about the costs of it and is it going to be worth it and what’s the return on investment going to be? But I have to say, working with the Happy PharmD and Alex specifically just really helped push me to think outside of the box and how I wanted to expand this business and I was really worried about hiring someone because I was becoming that rate-limiting step, right? There was only so much I could do in the time that I wasn’t at work in order to build this business. I mentioned earlier about working in the business and on the business. And I was really tapped out for working in and on it. So in order for me to move forward and expand to where I wanted this business to grow, I had to get over that roadblock, so to speak. And Alex was instrumental in helping me do that and just kind of work through the process and figure out, OK, this is the fundamentals, this is where I started, this is where I want to be. How do I get to that next level? And I’m super grateful just for the time that I’ve spent and wish I probably would have done it sooner because it’s been amazing from last year to this year where I’m on pace now. And I think about oh man, what if I had done this in like year 2 or year 3 instead of waiting? But it’s been really exciting. And I think it’s a testament to how working with someone else to think about different factors in your business can really help you grow and move forward.

Tim Church: I think that’s such a key. I mean, we don’t know what we don’t know. And sometimes, it takes really that outside perspective to help get to that next level. What were the initial hesitations with working with a coach or just paying money out of pocket to do that?

Brittany Hoffman-Eubanks: Yeah, I think for me, it was just being comfortable with the amount that it was going to cost on a monthly basis and just thinking long-term of OK, well, I understand having a business background that you have to spend money in order to make money. But as I mentioned, paying off those student loans were really important to me, and my business at that point was — I was at kind of a fork in the road. Either I was going to go to the left or I was going to go to the right. And I just decided to just go full boar to the right and do something different and hope that the return on investment was there and that it paid off, and it has. Within the first six months of working with a business coach, I tripled my revenue, which was amazing to see that happen and just be a part of that and just have those small wins, and it really just helped invigorate me. And I never looked back, so to speak. And as a result of working with a coach for the business, it just helped me think about things from a different perspective, bringing on a new employee to the company. I now actually have three employees, which is really exciting compared to where I was just a year and a half ago where I was terrified of hiring one and how was that going to affect my business and the quality, which was really important to me to teach someone else how to do what I do and just working through all of those pieces to be where I am now. So it’s been a long journey, but it’s been exciting. Each new thing, just thinking about something differently, not letting analysis paralysis take over and just stopping me from moving forward with the things that I wanted to do.

Tim Church: That’s really exciting, Brittany. And you mentioned that you were the rate-limiting step in the business, and I think that’s really interesting to kind of realize and recognize that. And talk about how you brought on employees and what that process was like and kind of what are they doing day-to-day in the business right now?

Brittany Hoffman-Eubanks: Yeah, so for me, I really needed someone who could help me with some of the pieces that didn’t really require me in the writing process. So I decided that hiring a medical writing assistant made sense, someone that could help me with the research, going through all the different articles that we need for the evidence-based writing that we do. Can they help me basically go through the research and highlight the pieces that are important for the particular types of work that we’re doing? Can they help me with bibliography writing and going through all the different sources that we have and that we’re using? Just some of those basic tasks that didn’t necessarily require me or my writing as well as someone who maybe was interested in becoming a medical writer with my business. And so it’s kind of funny how it happened because I have a group of pharmacists now who are working for me. And I love working with them, anyone with an advanced degree is perfect typically for medical writing, although there are a lot of great non-advanced degree writers out there. So I don’t want to generalize. But for what we’re doing at Banner Med, it’s been awesome to be able to hire other pharmacists and bring them on. But now, it’s turned into kind of a whole new thing where we’re working one-on-one with them, teaching them how to write the different types of medical writing projects or pieces that we’re doing and really helping them go from medical writer — medical writing assistant to medical writer and just being able to see that process and where they start and how they’re growing and their individual goals that they have as it relates to their own professional growth as well as Banner Med has been really exciting. So I started in one place and ended up being in a totally new place as well as far as the business is concerned, so that piece has been exciting too just not only educating healthcare providers but also helping to mentor and educate new aspiring writers as well.

Tim Church: And how did you primarily find these additional writers? What were the channels that you used?

Brittany Hoffman-Eubanks: So initially, this was one of the things that I think was kind of a hurdle for me to get over. In the beginning, I wasn’t quite sure how I wanted to go about that: Did I want to use a traditional place like Indeed or Monster or some of those places, the job boards that you think of when you’re going and looking? Or did I want to utilize a network and try to find people through that way? And I ended up actually utilizing a network, kind of a LinkedIn process of OK, I’m going to create an application, this is the qualities that I’m looking for, these are the things that are absolutely essential, these are the things that are ideal, and these are things that would be nice to have but aren’t necessarily required. I kind of went through that process, did a phone interview with them, made sure that they’re going to be a good fit for me, anyone that I work with, they ended up becoming like family to me. And my business is my baby, so to speak, so it’s really important to me that they’re just as passionate about writing. I can teach them a lot of the things that they need to know, but do they have good fundamentals? And so for us, we kind of went the more personal network route of utilizing LinkedIn and some other networking opportunities that made that process a lot easier. And now, believe it or not, just from some of the opportunities that I’ve had to spread the word about Banner Med, I actually have a lot of new aspiring writers that reach out to me now on a regular basis. And I’m always impressed by that. I think if you take the time to reach out to someone and tell them what value you can bring and how you’re interested in what they’re doing, then I can talk to that person a little bit more, find out what it is that they’re interested in, how they might be able to help us out or if it’s possible to work together. So there’s a couple — it’s changed from how we went about it in the beginning to how we do it now.

Tim Church: So are you still having a hand on each individual project? Or is your team taking certain project completely from start to finish?

Brittany Hoffman-Eubanks: Yes, there are — it depends on where they are in terms of the training process, how long they’ve been working with us. Quality control for me and making sure that every project is still meeting Banner Med’s expectations is very important to me, so the writers that I’ve been working with are absolutely fantastic. I do have one full medical writer right now who takes a project from start to finish. And then I come in kind of in editor role as opposed to writer role and just go through everything, make sure it checks every box that the client was looking for, just kind of as that last piece before we send the project off. And then with my new writers, I do take on a more hands-on approach where I work with them directly, offer feedback, and probably have more of a writing role with those projects. So like I said, it kind of depends on the individual. But yes, I do typically still look at every single project that comes through for Banner Med, just making sure that it’s going to meet the client’s needs and that we’ve successfully put together the deliverable that they’re looking for.

Tim Church: And then depending on kind of what stage they are as a medical writer, does that also impact kind of their compensation for each project?

Brittany Hoffman-Eubanks: It does. And unfortunately, in the medical writing world, there isn’t really a great compensation table, so to speak, where you can go and say, ‘OK, for this project, you’re going to make x amount of dollars,’ or, ‘This project, you’re going to make x amount of dollars.’ It’s really, for me, it’s a combination of their experience, their efficiency, their ability to write, along with what the total project cost is that we’re going to be receiving, the revenue that we’ve worked out with the client as well as my own just personal experience in terms of working with that individual of what the compensation’s going to be. But the one thing that’s really important to me is that the wage is always fair. And I strongly believe in that. I’ve gone back and advocated if a writer’s came back to me and said, “Hey, Brittany, you know what? This project took 10 extra hours more than we thought it was going to. And because of that, I had to spend all this extra time, x, y, z.” So in that case, you know, I have no problem going back to the client and saying, “Hey, you know what? We need to circle back on this project cost. These are some of the things that came up. Let’s talk about the compensation for this particular project and potentially renegotiate that.” Or I may even do that just on a personal level with that individual writer depending on how much extra time or effort that they had to put into it. So it’s a long answer to answer your question. But it’s so individualized that it’s impossible to say, OK, you’re going to do x and we’re going to pay you z every single time. It just really depends on the individual project.

Tim Church: So other than the payment to your employees for their assistance with the different projects that you receive, what are the other major costs of running your business?

Brittany Hoffman-Eubanks: I think the other major costs really come down to some of the software programs that we use. There’s a particular reference product that we use that has saved just so much time and energy when it comes to doing the bibliographies for a lot of the different products that we use. So I would say primarily software would be the biggest expense that the business has on a day-to-day basis in terms of operating costs. Aside from that, there really isn’t a whole lot of extra overhead types of things. I mean, we have some of those fixed costs like internet and if we want to have meetings with all of us together, there may be particular software that we use to facilitate that process. So it just — I guess it really just kind of falls into that software, the things that make our job a little bit easier. All of my writers live in different parts of the country, so they’re all remote-based. And so it’s not like we’re just meeting up in an office, working together. We have to facilitate those online meetings in some way or fashion.

Tim Church: And do you guys meet together as a team to kind of help foster some of that mentorship that you’re providing?

Brittany Hoffman-Eubanks: Yeah, so we’re going to actually start doing that. Recently, we acquired two new employees that now make us a team of four. So I’m really excited about that. Prior to that, when I was working just with my medical writer that I’ve now had for almost a year, actually, you know, her and I would meet quarterly. Sometimes it would be on the phone, other times it would be through a video chat. But it’s really important for me to make sure that we’re not only discussing the projects that we’re working on but that I’m also helping them with their individual goals that they have, what things do they need help with, what is their biggest difficulty when it comes to the projects that we’re working on, and really just having that open communication, that feedback, so that we can keep improving and keep growing the business and help them move forward into new roles that they’re excited about or interested in or their particular topic. So yeah, I would say that group discussion, the mentorship, is really important for the business.

Tim Church: I think that is so cool how you continue to grow and bring other team members on. And it’s just really exciting to see that growth. I think one of the other burning questions that a lot of people probably listening right now, and including me, is how much time are you personally spending in the business? Because even though you have writers and you have some help, I mean, clearly you said that you’re still having a hands-on, even if it’s from an editorial perspective, but just on the business itself. So talk a little bit about that.

Brittany Hoffman-Eubanks: Yeah, it’s a significant amount of time. I’m definitely not going to sugarcoat that. Probably I’d say between my full-time job and this side hustle, which is probably can’t even categorize it as a side hustle anymore. Now it’s like a full hustle.

Tim Church: That’s right.

Brittany Hoffman-Eubanks: I would probably say it’s easily like 80 hours per week. I’m definitely probably doing full-time on both right now. But you know, some of you guys may hear that and be like, ‘Oh my God, I can’t do that. There’s no way.’ You don’t have to do that to be in medical writing, right? You can pick the projects that you want to work on, you could do some extra money on the side if that’s what your goal is, or you can go full in like I’m doing. I think for me, I absolutely love this. And it doesn’t feel like work to me. So when I come home and I’m working on a project, it’s exciting to create this, to have my clients excited at the end of the day that they don’t have to spend hours upon hours redoing work and really come to us when they have those difficult projects or difficult topics that they know they need a good writer on. And I think that’s really important, and the biggest thing no matter what you choose is that at the end of the day, it’s awesome to make extra money on the side. But do you love the work that you’re doing? And if you don’t, then obviously you need to make a change or think about things differently. My grandfather always told me when I was a little girl, if you don’t like something, change it. And if you can’t change it, then change the way you think about it. And I’ve really just tried to use that as a guiding light for me in everything that I do. And this business is something that I absolutely love, so at the end of the day, even though I’m putting tons and tons of time into it right now, I know later on, it won’t be like that where I will have to spend as much time. But right now, we’re in that growing phase where it’s necessary. But I look forward to the days where I can step back a little bit and work on maybe some pet projects. But right now, it’s just fun and exciting to see things moving forward.

Tim Church: That’s so good, Brittany, and I think you just dropped a bunch of wisdom bombs in there, which was great. And what I want to know is because you’re doing so well and this is scaling, is this something that is going to take over your community pharmacist position? Is that going to cut back? What does that look like going forward?

Brittany Hoffman-Eubanks: Well, it’s hard to say right now. I absolutely love being a community pharmacist. I enjoy the patient interaction. I feel like to a degree, it helps me be a better writer, so to speak, in just being able to help patients navigate different difficult topics. In the community, I see people that are dealing with cancer, dealing with all kinds of just difficult types of long-term conditions or maybe it’s a short-term issue. So you know, I don’t know that I know the answer to that question right now, but I definitely know that I’m excited to see where things go in the future and depending on where the business takes me, you never know. This could be the final thing for me, or I may choose to scale back a little bit and do both. It’s hard to say right now, but I’m definitely excited for the future of what Banner Med can do.

Tim Church: You talked about you’re spending 80 hours many weeks out of the year trying to do both of your jobs, basically two full-time jobs.

Brittany Hoffman-Eubanks: Yeah.

Tim Church: So one of the things that often comes up that people feel that time is that limiting factor to work on a passion project, a side hustle, or another job. What seems to work for you in terms of managing both of those but then also your personal life?

Brittany Hoffman-Eubanks: Yeah. I get asked this question a lot, like how do you do it? And I think the biggest thing is that you have to be intentional about your time, right? So you know, if I’m working on a project, then I have to get rid of the distractors. I’m working specifically on that so that I can be focused and be efficient. But one of the things that I found during my residency year that was really helpful is just to schedule out my time. So my calendar — I’m that person that’s got thing color-coded and have a specific time I guess for everything. But that works for me. So I think the biggest thing — and everybody always says, oh, time management. But what does that actually mean, right? How do you put that into action? Are you the type of person that you need to work on something for 30 minutes and then take a five-minute break and then come back at it for another 30 minutes? You just really have to figure out what works for you. For me, scheduling my time, be it the time I’m going to work on projects or am I going to work out at 5 a.m. tomorrow? What time am I doing dinner with my husband, date night, etc.? It’s just really helpful for me to make sure. And then when that time comes up and I’m supposed to be working on that particular project during that time or whatever it is, make sure that you actually do it. I think that’s the biggest thing is just that follow through of whatever way that you find to manage your time, that you’re being consistent and that you follow through. Don’t say on Tuesday at 6 o’clock, I’m going to set time aside for my family and then be like, oh, sorry guys, this came up. I can’t do that. Like you need to honor those commitments and just stick with it.

Tim Church: I think that’s so true. There’s such power in that intentionality but then figuring out that system on how you’re going to actually execute. One of the things that you wrote to me before we jumped on the interview is that your husband has been one of your largest supporters. So I wanted to give him a shoutout because clearly, you seem to have written that with a lot of enthusiasm. And it seems like that’s probably necessary for the undertaking that you have.

Brittany Hoffman-Eubanks: Oh, 100%. I honestly couldn’t do what I’m doing right now without his support. I mean, just think about that for a second. You’re married to someone, you have committed to spending your life together with one another, and here I am going to work 40 hours during day, either work typically 8-4 or 2-10 at my job, and then when I come home, it’s like, “Hey, honey. Let’s have dinner. OK, I’m going to work again.” So I could totally understand him being frustrated or like what the heck, she has no time for me. But I think you know, we try to always schedule time with each other, which sounds very unromantic, I get that, but I’m in that phase right now with the business where these things have to happen, and I think he definitely understands that it’s a dream of mine, something that I’m pushing really hard for. And he’s just awesome. I can’t thank him enough for being super understanding about it, never gives me a hard time when I say, “Oh, I have this project I have to work on,” or, “Oh, I have this deadline.” He’s my biggest supporter, and I love him for that.

Tim Church: That is awesome. What’s his name?

Brittany Hoffman-Eubanks: His name’s Matthew.

Tim Church: Matthew, you’re doing an awesome job. Keep supporting Brittany. So Brittany, one of the questions I think that often comes up — and I feel like especially with medical writing — but just in general with trying to start a business or a side hustle, one of the things that comes up is just how do I get started? How do I break in and get going? Because I think it’s easy to kind of sit back, hear your story, and obviously it’s taken a lot of hard work to get to the point where you are now, but what advice, what guidance would you give to somebody who’s just trying to start to break in?

Brittany Hoffman-Eubanks: Yeah, I get asked this question all the time, actually. And so much so that I am actually working on a new project that’s hopefully going to help new, aspiring medical writers solve that problem. So stay tuned. There’ll be more to come. But just in general, to answer your question, I think the biggest thing that people who are aspiring to be a medical writer have to think about is one, what type of writing do they want to do? Do you want to have a staff position? Do you want to be a freelancer? Although that isn’t my favorite way to characterize what it is that we’re doing, but it’s in the vernacular to describe this medical writing role when you’re not working full-time for a particular company. And then ask yourself what types of things do you like? What are you interested in? And then seek out those types of opportunities. This is a gig economy where you can seek out different projects, let people know what you’re interested in, and just make sure that you come in prepared too. We want to make sure that you’re not only just asking people but that you’re letting them know what it is that you can provide to them that’s of value because that’s the biggest thing when it comes to different companies is how can you provide that value to them?

Tim Church: Well said, Brittany. So if somebody wants to reach out to you to learn more about your business, what you’re doing, or maybe just needs a couple key pieces of encouragement about getting started, how can they do that?

Brittany Hoffman-Eubanks: Yeah, so they can reach out to me on LinkedIn, Brittany Hoffman-Eubanks, can also find my email address on my website at www.BannerMedicalWriting.com. Either one of those is a great way to reach out to me. I love hearing from new people and talking about your story. So don’t hesitate to reach out. And if I can help you, I’m happy to do so.

Tim Church: Well, thank you again for coming on the show, sharing your story, and just really looking forward to hear about the progress as you continue to grow your business.

Brittany Hoffman-Eubanks: Thank you. I’m super excited. Thank you so much for having me. I hope that anyone who’s out there listening that if you’re really interested in being an entrepreneur, starting your own side hustle, start small with the things you can control. And you never know where things will take you.

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YFP 123: Leveraging Your Expertise to Start a Side Hustle


Leveraging Your Expertise to Start a Side Hustle

Dustin & Melody Hartzler talk about their healthcare side hustles, how these ventures have accelerated their financial goals, how they balance and prioritize their time, and how they work together as a couple when it comes to business and managing their personal finances.

About Today’s Guests

Dustin Hartzler is a Happiness Engineer at Automattic by day, where he helps business owners work all of the kinks out of their WooCommerce stores. If working with WordPress all day wasn’t enough, he spends time each week recording his WordPress podcast called Your Website Engineer (http://YourWebsiteEngineer.com). He enjoys helping people understand and use WordPress to its fullest capacity and spends time tinkering with code. When he’s not in front of the computer (which is rare), he enjoys spending time CrossFitting, reading and traveling. He lives in Dayton, OH with his wife, 5.5 year old daughter, and 2.5 year old son.

Dr. Melody L. Hartzler, PharmD, BCACP, BC-ADM, is a family medicine clinical pharmacist and Associate professor of pharmacy practice. Dr. Hartzler is a graduate from Ohio Northern Raabe College of Pharmacy. She completed her PGY-1 Pharmacy Practice Residency with emphasis in Ambulatory Care at the Chalmers P. Wylie VA Ambulatory Care Center in Columbus, OH. Following residency, she joined faculty at Cedarville University School of Pharmacy and developed a collaborative practice in a family medicine residency program. She now serves part-time for Cedarville University School of Pharmacy and part-time as a clinical pharmacist at Western Medicine Family Physicians. Her primary practice interests are diabetes, IBS/IBD, and functional medicine. In her current clinical practice, she works collaboratively with her physicians through a consult agreements. She is board certified in both ambulatory care pharmacy as well as diabetes management. She is a nationally recognized speaker, who has presented 6 times at the ASHP Midyear Clinical Meeting, as well as numerous state and local programs. She is an active member of American Society of Health System-Pharmacists as well as state and local organizations. She is also is a current board member for the Ohio Pharmacist Association. Dr. Hartzler’s passion for functional medicine lead her to start her company PharmToTable, LLC; she blogs at PharmToTable.Life. Her newest adventure is FunctionalMedicineCE.Com, she is making quality continuing education for Functional Medicine convenient and affordable.

Summary

Dustin and Melody Hartzler share their career journeys and how they are leveraging their expertise to start a side hustle. They have created multiple side hustles built on needs they are seeing while also fulfilling creative outlets they crave. Melody works 3 days a week at Western Medicine Family Physicians and teaches at Cedarville part-time. At her office job, she focuses on diabetes medication, transitions of care, medical reconciliation and does functional medicine consultations. Dustin is an electrical engineer turned Happiness Engineer at Automattic where he supports customers set up their WooCommerce stores and websites.Together they have created two side hustles: Functional Medicine Continuing Education and Pharm to Table. This episode focuses on Functional Medicine Continuing Education.

Dustin and Melody share their roles in their businesses. Dustin is able to have a creative outlet by building websites for their businesses and Melody often brings new ideas to the table based on the needs she sees in the pharmacy and functional medicine fields. They often have business conversations while driving.

Melody dives into functional medicine, a break down of what it is, her personal story leading her to learn more about functional medicine and how she incorporates it into her office practice as well as in their side hustles.

They speak more about their business model and the costs behind getting websites like they have up and running. The couple also share their advice for getting started in a side hustle and the podcasts and books they help to inspire their journey.

Mentioned on the Show

Episode Transcript

Tim Ulbrich: Hey, what’s up, everybody? Welcome to this week’s episode of the Your Financial Pharmacist podcast. I’m excited to welcome onto the show Dustin and Melody Hartzler, proud fellow alums of mine of Ohio Northern University to talk about their unique career journeys with multiple side hustles, which most recently culminated in the launch of FunctionalMedicineCE.com and a virtual symposium that they are launching on Nov. 9, 2019. This episode is an extension of the work, the excellent work, that Tim Church has been doing as a part of our YFP side hustle series where we talk about ways you can create additional streams of income to reach your financial goals faster and highlight pharmacists who are making this happen. Now, before we get started with today’s episode, I want to mention an awesome giveaway that we have going on this month in combination, in partnership with Brandon Dyson and the team over at TLDR Pharmacy. And this is the ultimate residency prep giveaway, and you can learn more and enroll in that giveaway to get yourself eligible over at YourFinancialPharmacist.com/giveaway. Again, that’s YourFinancialPharmacist.com/giveaway. In this giveaway, the ultimate residency prep giveaway for five winners, we have a variety of resources, everything from interview prep, letter of intent prep, a pharmacy residency bootcamp from the Pharmacy Advisory Group, lots and lots of resources, including the forecast application fee that, of course, costs just over $100. So again, you can learn more at YourFinancialPharmacist.com/giveaway. So Dustin and Melody, welcome to the Your Financial Pharmacist podcast.

Melody Hartzler: Thank you.

Dustin Hartzler: Hello, hello.

Tim Ulbrich: Well this has been a long time in the making, so excited to have you guys on the show. And we’re going to talk everything from business and side hustles to how do you guys effectively work together, what’s the purpose, what’s the goal, why are you doing these side hustles, so I’m excited to be able to have our community, our listeners, get exposure not only to the businesses that you’re working on but also a little bit of the behind-the-scenes of how the two of you operate and the success that you’ve had. So why don’t we start with each of you — Melody, I’ll start with you. And then Dustin, I’ll ask the same thing. Melody, can you start and tell us a little bit about your day job, what you’re doing every day as a clinical pharmacist? And then from there, we’ll jump later in the show about some of the side hustles.

Melody Hartzler: Sure. So three days a week, I work at Western Medicine Family Physicians, which is a private practice family physician office in the Dayton, Ohio, area. And then I also teach at Cedarville part-time, so I get the opportunity to still teach what I love, which is endocrinology and diabetes-focused. And also I am in charge of our residency teaching certificate program at Cedarville. So during the week at the office, I do a lot of diabetes management, also transitions of care, helping med reconciliation for post-hospital discharge patients. And then I do a lot of functional medicine consults too, which I think we’re going to get into later.

Tim Ulbrich: We are. And that was — part of wanting you to share that is I think often the value in a side hustle — most side hustles that often turn into successful businesses I think is where there is synergy between someone’s area of expertise in their day job and what they’re able to do. So split position, teaching as well as practice in functional medicine. Dustin, why don’t you give us a little bit of background on the work that you’re currently doing at Automatic as well as the previous work that you had in starting and owning your own business?

Dustin Hartzler: Yeah, absolutely. So I do work at Automatic now. I am on a support team, so I help people set up websites. And you might see where this is going here in a little bit, but I had a business when we moved to Dayton in 2010, I set up my own company because I wasn’t going to do my electrical engineering job, drive to a factory two hours away, and it just didn’t make sense. So I’m like, let’s see if I can start something here. And I started, and I had a business building websites for people. And so I have a lot of experience, 10 years almost, in just building websites and helping people get their websites set up. So that’s my primary focus, and that’s my primary day-to-day.

Tim Ulbrich: So you’re title, Dustin, if I pulled this correctly from your LinkedIn profile, is a “happiness engineer.” What is that? I mean, what does the day-to-day of that look like?

Dustin Hartzler: Yeah, so that’s just a name for our customer support team. And so our goal is to make everybody happy, I guess if you will. It’s mainly — it’s kind of a unique position in the fact that we’re not like a normal call center that says like, “Oh, you can only give them refunds if this, or you can only do this.” Like there’s so much flexibility in our jobs, like you know, if somebody has paid for a plugin or paid for something and it just doesn’t work, we can go outside their window to refund them or we give them extra time or give them free plugins. Like I’ve given customers who’ve spent thousands of dollars with us, just oh, this wasn’t working when you try to check out, it’s on me. Like it’s one of the cool things that we can do for our loyal customers and just try to make everybody, that experience when you’re building a website is so frustrating. And so our goal is to help people get what they need and to also just do it without having to ask for extra permission. Like, “Oh, can we give someone this $100 thing worth of value?” Just go ahead and do it, and everybody moves on with their lives.

Tim Ulbrich: So one of the things I don’t think I’ve ever asked you this and I don’t want to gloss over, Dustin, but you mentioned obviously you’re trained as an electrical engineer and you abandoned — for lack of a better word — abandoned that work, started your own company. You mentioned the long commute, but what other reasons, what other factors played into that decision in terms of leaving a career in a field that you had spent a lot of time obviously in training and becoming an expertise and deciding you want to go this route into web development?

Dustin Hartzler: I think the two things that stand out to me is one, I don’t like meetings. I worked at Whirlpool, and I would literally have like seven hours of meetings in an eight-hour day, plus have to do all my other work.

Melody Hartzler: He wouldn’t do well in academia either.

Tim Ulbrich: No, no, he would not.

Dustin Hartzler: And then I think the other thing was just the inspiration I was getting from listening to so many other business podcasts and people creating their own thing and doing their own thing, and the income level was — you were never capped. Whatever you could create, that’s how much money you could make. So I think those were kind of the two reasons besides the long commute. And honestly, I liked the commute more than the work because I got to listen to podcasts the whole way to and from work.

Tim Ulbrich: I love that. I mean, so the aversion of meetings and the advantage of not having a cap on your income certainly can be reasons to be able to start your own business. So I agree, though, Melody, academia would not be the environment for Dustin. You’ve got to love the meetings that are about the meetings. Those are my favorite types of meetings. So let’s jump in. And Melody, if you could start, and Dustin, feel free to chime in, you know, I’m always curious, obviously here we are on a personal finance podcast, but I think so much of people’s success in business or here in side hustles or side hustles that turn into businesses over time is really dependent on people having a solid financial base and foundation from which they can build. So tell us a little bit about your personal finance story and journey as an individual, as a couple, and how that has put you in a position to be strategic and on the offense when it comes to these business opportunities.

Melody Hartzler: Sure. So I probably didn’t have the best understanding of finances when we got married and even going into school. I had a lot of private loans that had a variable interest rate. So by the time 2008 came around, before the stock market crashed, some of those were at about 16% interest.

Tim Ulbrich: Wow.

Melody Hartzler: Yes. So we left, I graduated in 2009, and I had about $120,000 in debt plus an additional $12,000 that I ended up paying back to Walgreens about three years later. Maybe a little longer. And so from that point, we knew we had to pay it back, and we wanted to pay it back quickly. We really wanted to pay it back before we had kids. Dustin had a lot less, which he can talk about. But so I — even during residency, I wanted to pursue residency and I knew that I liked talking with people and I loved the idea of community pharmacy, but I knew that the way that it was going wasn’t going to work for me and my goals. And so I did my residency in an outpatient facility at the Columbus VA. And I didn’t have weekend responsibilities there, so on the weekends, just like every other resident in town, I was working on the weekends. So I worked at Walgreens every other weekend throughout my whole residency. So pretty much had four days off a month because I was working the other weekends. And you know, that helped us a lot because we were able to significantly increase even just that first year. If you think about four days a month of a retail pharmacist’s salary plus the residency salary, it almost was about the same.

Tim Ulbrich: Absolutely.

Melody Hartzler: You know, when you got down to it. So that was a blessing to still be able to have that residency experience and then be able to get paid a separate position to help us dig out of that a little bit and then ended up having one of our cars died that year, and so we ended up having to use a lot of that to purchase a reliable car to get to those jobs. So and then Dustin, I can let him talk a little bit about his strategy when we were paying off loans. He was even paying them off when we were in Ada still at Ohio Northern, so my last two years of school, I worked as a head resident — actually three years, the last three years I was at ONU, I was the head resident. And so my room was free and we had the stipend plus we got a meal ticket. So here we got married and we’re living in an apartment on campus and going to the cafeteria as a married couple because that’s what made the most sense. I mean, we didn’t have our awakening on the whole health and nutrition thing at that point, so we were still OK with eating the food there. And so that was a big savings, we didn’t have a rent to pay for our first early years of marriage because of that. And so Dustin really was able to start driving down some of those high interest loans.

Tim Ulbrich: So Dustin, give us the strategy a little bit — and obviously chime in with your own financial position as well in terms of student loan debt. But those together when I hear 16% interest loans, were those just things you aggressively paid off? Did you guys refinance those? But in addition to that, what was the motivation for you that even while Melody was still in school that you obviously had very significant intentions of trying to aggressively pay those off. Tell us a little bit about that backstory.

Dustin Hartzler: Yeah, so when I started — so I graduated. I’m two years older than Melody school-wise. And so I graduated two years earlier. And I had a full-time job, you know, a full salary engineer position, and I drove to and from work. And this was like right at the dawn of podcasts, believe it or not. And the iPod, video iPod is the first iPod with the thick wheel, and I felt like I could invest $300 in this Apple device so that I could play it through my car deck tape player.

Tim Ulbrich: Yes.

Dustin Hartzler: To and from work. Like I was commuting an hour to and from Whirlpool. And I was like, well, I just want to learn about money. Like nobody ever teaches you about money. And so I got hooked on the Dave Ramsey Show, and all of a sudden things that he was saying was making sense. And we didn’t full out Dave Ramsey — like we took vacations while we were still in debt. Like we lived life, but we still were pretty aggressive with our student loans. But what happened was I ended up with like $20,000 in student loans. I throw that number out there like, oh, just $20,000. That’s still a lot. It’s not Monopoly money, like we paid it all back. But so I ended up — he was talking about creating a budget, and this was all before Dave Ramsey has his budgeting tools and stuff online. So I had an Excel spreadsheet, and I figured out — and I don’t know if this is true or not — but as an engineer, you’re always trying to figure out how you can save the most amount of money in interest. And so like we figured that it made more sense for Melody to take out new loans for the last couple years while we paid off her current loans. And so we had about three things we had to pay for: We paid for gas for my car to and from work. We paid for renter’s insurance. And I think we paid for like some groceries for breakfast and lunches for me. That was pretty much all of our bills. And so it was like every week, I figured out that if I wanted to spend $2,000 per month towards the loans, then I could spend $500 per week. And then that last week, whatever we had left in the month, we got that, that’s what got sent over to Sallie Mae at the time. And so that was kind of the strategy and the thought process. And was it the coolest life to live? No, not really. But looking back, our first two years of marriage, we lived on campus. And I mean, I got to do all the intramural sports and all that kind of stuff, and there were still a lot of friends that I had because I had just graduated. And so it was kind of cool, like it was a good jumpstart with such a weight around our ankles, if you will, with all of the loans that we had.

Tim Ulbrich: Yeah, I mean, there’s nothing like a good date night at the Macintosh cafeteria, right? At Ohio Northern University. I mean, what I love about that though is I love the intentionality, I love that Melody, you kind of admitted that you didn’t necessarily come in with the same appreciation for that and obviously had more debt, although that’s still well below the national average of what we’re seeing now even though it was a higher interest rate. But still were really, really aggressive. And I want to follow up on that and hear from the two of you. We talk a lot on this show about the importance of having a financial why. What is your motivator for why you even care about this topic of money to begin with? And we’ve preached over and over and over again that that’s going to be different for everyone. But if you can articulate that, especially as a couple if you can articulate that, I think it makes so many other parts of the financial plan easier to work through, such as the month-to-month budget and being on the same page and all the things that cause so much heartache and a lot of difficulty for people. So for the two of you, what’s the vision? What’s the dream? What’s the why when it comes to money in terms of why you wanted to be intentional in paying down the debt? And what’s the future hold in terms of why this topic of money matters?

Dustin Hartzler: I think the first thing that really comes to mind is like, I didn’t like paying people to use their money. I don’t know, like I had never had any credit, I had never — before, it was always like, “Oh, interest. That’s what the bank pays me.” And then when we see how much the interest is making, or how much we’re spending in interest, it just like takes your breath away almost. It’s like, wow, on our mortgage or whatever, that’s a lot of money just to spend to have used somebody else’s money. And so I think that’s kind of the driving force behind it, and then kind of looking out — and I do this a lot too with trying to figure out what happens the day comes and we don’t have our mortgage anymore, like look at all of the possibilities there. Like, oh, if we didn’t have a mortgage, we could easily cash flow college for our children. Or oh, if we didn’t have a mortgage, look how much money we would have to do these other things. So I think some of the why is just giving us the flexibility to do what we want. You think about it, and I told this to Melody, I don’t know, a few weeks ago or months ago, we were driving somewhere and I was like, “I am so glad that we do not have any student loans anymore.” With all of the things that we’re doing, the pieces of the puzzle, like you start tacking on $500, $1,000 here or there doing other things, we would rather spend instead of $1,000 to Sallie Mae to pay for education, like we would rather spend $1,000 to have our kids be more bilingual and go to a Spanish immersion preschool, which they do, and a kindergarten. So those are some of the kind of the things that I can think of right off the top of my head when it comes to financial motivators for us.

Melody Hartzler: The other thing too is that we’re Christians and we’re also passionate about giving and serving, and so we feel called to give back. It’s not really our money to begin with. And so how can we be a better steward of that? And so paying it down quicker as far as the debt that we had and even with our mortgage now is important to us so that we can be better stewards of the finances that we’re given and the opportunities that we have. We do give at least 10% of our incomes to our church and to various ministries in our community, even through the things I’m doing on the side hustles, the blogs and things like that. I also make it a priority to tithe those and things like that as well. So that’s important to us. Travel is also important to us. So I love, I’ve been to 49 out of 50 states. And so I grew up — and a lot of times, my parents didn’t have any super fancy we did, timeshare travel and different things like that where we’d cook most of our meals throughout the week, but hey, we were at the beach. And we did a lot of trips where we’d drive to the Grand Canyon or drive to Yellowstone and stopped at a lot of places along the way. And so I sort of got the travel bug and then like Dustin said, even when we were paying off debt, we were still traveling. So we went to Hawaii. My parents had gifted us two timeshare weeks out there that we were able to line up sort of back-to-back. But you know, when we were out there, we definitely used a Red Lobster gift card in Honolulu. And we totally ate peanut butter sandwiches at the feet of waterfalls. And so it was OK. We saw the beautiful creation that we were there to see. And obviously if we went back now, it would be a little bit different. But we laughed at that, and again, before our healthy food awaken, but we still have great memories of that. And even when we went to Europe before we got pregnant with our daughter, we went with another couple, we split Airbnb’s, so we weren’t out there spending — when I look at the Travel & Leisure magazine, I just sort of read it like, oh, this is beautiful. I’m never going to stay at these places. It has cool places to go, but never am I going to go on this place that costs $3,000 for the whole week just for one person. But yeah, so we really do want our kids to be exposed to travel, and that’s also important. And we like to — even each year, we like to go someplace by ourselves to sort of just disconnect from the day-to-day and I guess you could say the rat race sometimes. And then we like to take our family on a trip as well. So we just got back, actually, from St. John. But even within that, we went on Marriott points, and we got a good deal on flights. So it wasn’t like we’re just still — we’re still trying to be budget-friendly because we still are in debt with our mortgage and trying to be good stewards of our money.

Tim Ulbrich: Yeah, and I think you guys have been great examples that you can enjoy something that both of you are very passionate about in terms of traveling and exposing your kids to that but also do it in a way that fits in your financial plan and is reasonable to do in terms of how much money you have. And what you all are going to remember, obviously, is the experience. Right? I mean, not necessarily using a Red Lobster card, although that’s a great story. I mean, the meals and the food and all that are good, but obviously the experience and the time you have with one another and with your family is going to be what you’re going to remember in the long run. So let’s talk business because I wanted to lay that foundation because as I mentioned on this show and I say often, being able to aggressively pursue business opportunities, whether it’s a side hustle, whether it’s investing in another business, whether it’s buying real estate, whatever it be, doing so when you have clarity on the things that we just talked about I think allows someone to be able to pursue that opportunity with confidence and to do it in a way that’s not going to add on stress. And I think that’s so important that we all know the stress that can come from our own financial situation. And when you think about things like debt and not having emergency savings and obviously you put kids into the picture and expenses go up and home prices, all those things, and if you want to then pursue business opportunities but you already have those stressors, obviously this could be one extra layer of stress rather than hopefully something that can produce additional income and also allow you to pursue something that you’re passionate about. So what I would like to do is talk through two businesses I know that you’ve worked on, and we’ll talk about the one a little bit more in detail that you’re getting ready to launch, the virtual symposium, the functional medicine CE, but I also want to talk about your other venture in farm-to-table. But before we jump into those two, help me understand — obviously, we’re going to talk about two pharmacy-specific oriented businesses, but Dustin, obviously you’re not a pharmacist. We’ve learned you’re an electrical engineer, you’ve got a web design background, so what is the role that each of you play when it comes to the business ventures that you’re working on?

Dustin Hartzler: Yeah, so the thing about working at Automatic, it’s an awesome company. It’s the — WordPress.com is the company behind that, and there’s a specific little thing in my contract with them that I have a — it’s a conflict of interest for me to build websites for other people and charge money for it. I can out of the goodness of my heart for as many people as I’d like, but the time doesn’t really — I don’t really have the time to build websites for the goodness of my heart for many people. And so I think one of the really interesting things with that conflict of interest, you know, I was always trying to think like, OK, what can I do as my side hustle? Or what can I do that I’m really passionate about? But everything I’m passionate about is WordPress and websites, developing code and stuff like that. And so that’s one of the things that really, it was kind of once I started at Automatic back in 2013, it was like for a few months and a few years, it was like, well, I don’t have to do anything else. I’ve got this good-paying job, let’s not worry about it. But then that itch continues to be there. And then Melody comes up with these ideas, it’s like hmm. So I can build something for free, and I get revenue from it, essentially. So like I was talking to some people at we have an all-company meetup. It’s once per year; it was back in September. And I was telling people like, oh yeah, I built this. I was using WooCommerce and my wife is making all this money with this website. And they’re like, well don’t you mean you? And I was like, no. My wife is making all this money. So I think that’s a really good blend of what we can do as a couple because I can’t create that kind of thing on my own, mainly just because of the conflict of interest. Like had I — if I leave Automatic, I can go and do whatever I want. But I really like my job, and so this just gives me the opportunity, it scratches the itch of I get to build things but then I’m also getting the benefit of building this by as much as Melody can fill.

Tim Ulbrich: Hey Melody, I know how big of an asset that is, you know. For us, we have the magic bullet of Tim Church. You have the magic bullet of Dustin Hartzler that can do all of that. But the web design piece, the opt-ins, the lead magnets, the format, that can often consume people when they’re trying to just get their idea off the ground. So what an incredible resource. So building on that, it sounds like based on what Dustin said, you’re often coming with the vision, the idea, and then are you batting that back-and-forth with Dustin? Is he helping on the execution? Help me understand how you’re fleshing out a business idea that you come up with.

Melody Hartzler: Yeah, so normally, honestly, it’s a lot of conversations in the car when we’re driving places because if the kids are watching something on the iPad and you can’t do anything else when you’re driving, that’s when we have a lot of our business discussions. But I think a lot of times, it’s like, hey, this is what the need is that I’m seeing. And then like we’re just sort of going back-and-forth about how we can meet that need but also turn it into that side hustle and generate revenue from it.

Tim Ulbrich: Yes.

Melody Hartzler: And so for example, with the functional medicine CE, I all the time was seeing people saying, “Hey, I want to learn more about functional medicine. Where can I go?” And there’s a lot of great organizations teaching about functional medicine. The challenge is not a lot of them are providing pharmacist CEs. So if people are looking to meet their Continuing Education requirements with this education, that wasn’t happening in a lot of those situations. And also, the conferences are sort of expensive. And so when you’re looking at Institute of Functional Medicine, which is a great organization, and I’m hopefully going to be — I want to go to their conference next year at some point. It’s a great organization, but there’s no pharmacist CE currently, and there’s also — it’s a couple thousand dollars, if not more because you’re talking plane travel and really nice hotel stay for five days. And that all adds up really quickly. And so you know, a lot of people are too like I’m not sure if I’m ready for that. What can I learn to before I get to the point where I want to spend a couple grand on this. And so a lot of the other functional medicine programs out there, there’s Functional Medicine University, which is a great site that’s a couple grand to do their certificate program, which is actually one of the lower cost ones for getting a whole certificate. But anyways, so if you’re talking like IFM, you’re talking maybe $20,000 by the time you’re done with all the things you need to do to get that certificate. So I thought, you know, there’s got to be a better way to do this. So with my background in education, I’ve developed a lot of Continuing Education as well over the years as a faculty member. And I thought, you know, we can teach people, and we don’t have to have them go anywhere. You know? We’ve got webinar, you can Zoom software, and the ability to work with — I work with CEI, which is a great CE company. And so the ladies there that I’ve worked with have been fabulous. And so I’d already been working with them a little bit, writing for them. And so I thought, you know what? I can do this but host it on my own site and then I can still pay them to certify the CE and get this sort of going. And so I started talking about this with Orthomolecular, there’s a pharmacist that works for Orthomolecular, which was like, hey, that’s a great idea. We could sponsor it. And I was like, awesome. And so you know, the more I talked about it, the more people started to say, OK, yeah, we can do this. And so I had a lot of support. The speakers that are speaking this time around are all awesome and have been sharing a lot about the conference, and so Lauren Castle (?) is the founder of FMPhA. It’s funny because I was on maternity leave with my son, I think, and I saw the flyer for OPA that year. And it was this Introduction to Functional Medicine. And I was like, who in the world is giving that talk? Here I am holding this baby. So I looked at it, and I looked her up and I called her and we started connecting, and so that’s been awhile now. It actually might have been when I was on maternity leave with Kinley now that I think about it, about five years ago. But then now she lives like 10 minutes down the street from me. So —

Tim Ulbrich: Small world.

Melody Hartzler: It is a small world. But it’s been fun to help encourage her and what she’s doing in the functional medicine world and also have her support for what I’m doing as well.

Tim Ulbrich: So we’ll link to this in the show notes as well, FunctionalMedicineCE.com. The first virtual symposium is starting on Nov. 9. So for those of you that are interested in the topic, obviously check it out. Also I would encourage for those of you have an educational idea that you’re batting around and wanting to get a feel for what a virtual symposium is, I would check that out as well. You guys did a great job with the website setup, Dustin. Nice work. And I think it looks really clean, you’ve got great speakers on there, and I think it’s a great model that others can look at and build off from as well. So let me — couple more questions. I want to dig into this business model a little bit further, but for those of our listeners that maybe aren’t as familiar with functional medicine, give us the down-low on what is functional medicine? And why is it a topic that you care so much about? And why as a pharmacist do you think you have a lot to offer in that space?

Melody Hartzler: Sure, that could be a whole hour conversation, so I’ll try to not do that. But so essentially, functional medicine is really looking at the root cause of disease. And so we do that really well when we talk about infectious disease, you know, we have a treatment, it gets rid of it, we’re gone. But as far as the chronic disease model in this country, when we think about chronic disease, we really don’t have a lot of cures for most of our chronic diseases. It’s just something we manage with symptom management, and I do that every day in my practice too. I manage diabetes with medications, but I also try to incorporate some of these functional medicine principles as well. But essentially, it’s acknowledging that patients are individuals too I think is a big component of it. So just because something works in the population health, it doesn’t mean it’s necessarily going to work for this person sitting in front of you. And so trusting that what the patient is saying about their symptoms and using information that’s evidence-based is part of it, so it’s not like we’re just throwing these supplements that don’t have any science. It’s so much biochemistry, I wish I would have really paid a lot more attention in biochemistry. I give these reports, I do this one report from Genova Diagnostics called The NutriEval, and you literally get the kreb cycle printed out with all the different components of it of the patient’s actual body, and then it tells you what nutrients you need to make that cycle more efficient. And I was like, man I should have — and it seems like such a long time ago too. So it’s good — that’s why education, Continuing Education, is so important to try to keep brushing up on those skills. But I think the best example that I like to give is functional medicine approaches IBS. Irritable Bowel Syndrome is not just constipation or diarrhea. Like there’s something causing it. But the drugs that we have both of those conditions, whether it’s IBSD or IBSC, are just symptom-managing drugs.

Tim Ulbrich: Right.

Melody Hartzler: They’re not actually correcting any of the issue. And so typically, IBSD is often caused by a dysbiosis or an imbalance in the microbiome, which is why we do now have a prescription agent that is an antibiotic. But there’s also challenges with that because it’s only 60-70% effective after one course. And so there’s other things that we have to think about. And then as far as constipation, we don’t really have anything that addresses a lot of the root cause. And so when we are looking at someone with IBS, we’re thinking about is there a potential pathogen that’s causing this? Is it a parasite? Is it a microbiome imbalance? Or is it inflammation? So even some of our IBS patients, their fecal count protectants (?) is really high, so there’s a lot of inflammation going on there even though you wouldn’t classify it necessarily diagnostically as IBD. And so looking at some of those things, is food intolerance related? And so we organize sort of our thoughts based on the patient. There’s this whole timeline piece of functional medicine. So they look back questions that we’re asking patients on our intake survey: Were they breast fed? Were they born prematurely? What kind of stressors did they have early in life? Was it parents went through a divorce and then all of a sudden these abdominal symptoms started to appear? And so there’s different points in your life that this cycle piece and the stressors also sort of turn over the epigenetics. So epigenetics is, you know, you have this genetic code at the beginning, but then the influences in your life turn on and turn off different things. And so everyone is unique in that aspect because we’ve all had different influences in our lives, whether that’s chemical or external stressors from family circumstances and things like that. So my stressor that led us to functional medicine was actually the birth of our daughter. So it was quite the experience, and we sort of planned for this natural birthing experience, and our doula was in jail, so that’s a podcast for another day.

Tim Ulbrich: Oh gees.

Melody Hartzler: So from that, it turned into a pretty stressful induction, long labor and the first five weeks of her life, she was super colicky and tongue-tied, and it took us awhile to realize that. And so all of that stress I think just sort of set my bad diet, probably poor microbiome balance, sort of over the top. And then, you know, about a year later, I started to have this abdominal pain that wasn’t going away. And everybody was like, oh, you’re fine. Yeah, basic interventions type things. Even then GI specialist was like, no, there’s no reason to scope you, you’re completely fine. I was like, well I literally have this pain every single day in the same exact spot. And so I finally found some functional medicine practitioners and turned out it was probably dysbiosis, probably CBO — I never actually did the breath test, which I don’t always do for our patients either — but did some of the comprehensive stool testing and took some antimicrobials. I even tried the laxin (?). It was a long journey, so it was about at that year point from her life for about a year and a half that we were still sort of going through the journey. I even went to the Cleveland Clinic Functional Medicine Institute. And I felt a lot better at that point, but I had finally made it on the waitlist, and so I was like, you know what? I’m going to go and learn from them. So let’s see what they have to tell me because at this point, I knew functional medicine was something that I wanted to incorporate, but I wasn’t sure exactly how to do that because I was working at the time in a federally qualified healthcare center, which was a little bit challenging because, you know, the cost of a lot of these interventions right now is really only available to people in the middle class and above. So I think some of the things other people are doing in this community to try to make these resources more available to the masses is awesome. So but at this point, it was challenging for us to do a lot of that testing. But there’s still a lot of basic things we can do, not only in community pharmacy but also in settings like that, you know, as far as testing vitamins and using probiotics and doing nutrient supplementations to help to heal the gut. And so even in that practice, looking back, there’s probably a lot more that I could be doing at the time, but I didn’t have enough experience to know what that was. And so — but anyways, so at about that time, it was right before, actually, we got pregnant with our son that we decided that I needed to go part-time with my faculty position. And that was coming from a lot of the stress with not only not knowing what was going on in my body and trying to — I was like, if I’m going to have another child, like I really need some extra time during the week. And I also in my head also had a lot of these ideas sort of out there, that I would like to do the blogs and stuff like that. And so made that decision and then started my part-time position with Cedarville and also at that time then, transferred offices to work in a different family medicine office, which that was really I think one of the pivotal points for my career because the family medicine physician that I work for is wonderful. And he is very open to a lot of these things, and so when myself and actually my best friend is one of my colleagues there who’s a nurse practitioner, and we sort of went to him together because he needed a new nurse practitioner. But we had also heard that he needed someone to manage his diabetes. And so I was like, well she may not want to manage diabetes, but I can do that. And she didn’t want to do something else, so we sat with together and sort of said, this is what we can do, that we both have this interest in functional medicine. And then fast forward to today, we have a functional medicine service that patients see her, sometimes they see me as part of that. And so we’re starting to be known in the Dayton area for our functional medicine service, so it’s pretty exciting. And so I really feel like had we not made that decision to go part-time, like that really wouldn’t have been where we would be landing right now. And so yeah. So it’s exciting and I really think the passion for sharing about functional medicine is because of that experience that I had as a patient, and I think that’s a lot of pharmacists that are involved in functional medicine had some kind of personal experience, whether it was them or it was their spouse going through something or their child. And even with our daughter, I’ve learned a lot about pediatric approaches to functional medicine through some of her journeys with allergies and asthma and things like that. And so a lot of my initial blog post that I have on farm-to-table are based on a lot of those topics that I was sort of walking through and researching anyways for our own personal health.

Tim Ulbrich: And what I love about this is one, just great example of — I think great businesses are made out of identifying a problem that needs to be solved that people actually care about, and you’ve checked that. Obviously, there’s lots of concerns people have out there about their own personal health and diet and exercise or not getting successful treatment plans with traditional medicine. It also has a combination of certainly your expertise, so an area of practice and an area that you’ve experienced firsthand, an area that brings your educational background as you’re looking at building CE and online courses and things like that. And then obviously, it has a personal component as well. So I think as people are out there hearing this, I think it’s just a great example of as you’re thinking about a business, you’re thinking about a side hustle, is there something out there — you mentioned you and Dustin talking in the car where you often say, OK, well, there’s a need here or there’s a problem that’s here, something that needs to be solved. That’s where it starts, and then it’s trying to figure out what is the solution? And is it a solution that you can bring value to based on your previous experience and personally? Or based on your experiences and expertise in what you do every day. So before I ask you a question about the business model of this, Dustin, as I look at the website, which again, is incredible, as I look at the website if I’m somebody listening to this podcast and thinking, oh, I have this idea and I need to build this site whether it’s a site for a CE program or whether it’s just a site for what they’re trying to do, I look at this and say No. 1, I could never do this. I don’t have time or this is way too expensive. So give us a ballpark. Like what would be involved here if somebody were building a site in terms of time and roughly expense to get something like this off the ground?

Dustin Hartzler: Sure. And this was one thing that — I mean, you mentioned it earlier. Like Melody’s able to do these things because she doesn’t have a lot of upfront tech costs because like that’s my thing. But honestly, I bought a — I didn’t do all the design, I didn’t have time for that either. But I bought a $20 theme online and I did some customizations and I did some things with it, and you need a website and you can get hosting for $5-10 per month or $50 a year or so. You can even go to WordPress.com. We’ll do a little promo there. But they have the ability for $100 a year or $300 per year, you can get live chat support and do all kinds of things online. And you can have somebody physically help you if you run into things like that. So I would say all in all, with my development time if you were to pay somebody to do it, I probably have 20 hours in the site and just because it was a lot of tinkering, and there’s probably 20 more hours of things that I want to do because I know — I want to be able to do this multiple times. Like that’s kind of our goal. We want to have this virtual symposium and then another one and another one. And a lot of the stuff that’s in there is kind of hard-coated. It’s like built right into the theme. And so if Melody needs to make a change, I have to do it. And I don’t want that, I want her to be able to do all the changes because I want to make it easier for me in the future. And so I don’t know, I would say you — if you would invest like $500, you could get a pretty decent website up and running to test a business idea or test a model out or something like that. You could go a lot less than that if you are a little bit techy and you’d rather do a little sweat equity if that’s something interesting to you. You know, a minimum if you bought a theme and you have some hosting, you could get by with about $100 investment. And so I think anywhere between the $100-500 could get you a pretty decent website up and running to start testing that idea out.

Tim Ulbrich: Yeah, and I think that’s great. That’s what I want our audience to hear is that we’re not in an age where you have to be paying $10,000 or $20,000 to get your site off the ground, right? When you look at themes and you look at some of the things that are out there in terms of plug-and-play and what you can do with e-commerce, whether it’s them digging a little bit deep to read and learn on their own or ultimately hiring that out, it shouldn’t be an expense that is unbearable, even if they don’t have a Dustin Hartzler on their team. It should still be an opportunity they could pursue. So Melody, let me ask you a question or two in terms of the business model of this. And I want our audience to hear kind of your thought and vision of where this is starting and where this could go in the future. So I’m on the website right now, FunctionalMedicineCE.com. I see you have a symposium on Nov. 9, and I see you have a silver package, which essentially is the live option that people can tune in for seven hours of CE, it’s live only, $129 all the way up to a platinum pass, which gives them both the live as well as the video recording and then a post-conference networking. So what, as you were putting this together, what is the business model? What’s the goal in terms of running this? And I know there’s other virtual symposiums that have been out there that offer a free option and then they offer a buy-up option and then they’re promoting additional products and services. So as you started this way, why did you start this way? And where do you see this going in the future?

Melody Hartzler: So we started this way because looking at what other people were paying for functional medicine education, this is still much less than that. Even the weekend, I went on a Saturday-only symposium, that was Pharmacy CE in Indianapolis in September, which was great. But it was like the conference fee was $499 for the day. And then there was a discount code that got it to $299, but then we stayed at the Marriott downtown and the gas to drive there and a lot of people flew there, and so it added up to probably $1,000 pretty quickly for a lot of people. So we knew that — and there was I think 115 pharmacists that were there that day, and so I knew that if people are willing to fly across the country for this one day event, I feel like there’s enough people out there that would pay a fraction of that to be able to learn this information from people that are experts in the field. And so that was sort of the thought process by not having a free option upfront, and also I think the cost of the CE was part of that too and having to pay for accrediting the CE, AACP-accredited. And so we didn’t want to lose money on our first adventure in this, and so that’s part of the reason. We do offer discount codes, and we actually did make a YFP code as well. So if anyone’s listening to this and wants to sign up, YFP will get you 10% off. And so our future plan is to move forward with more of these virtual symposiums. And so our goal is to have three or four a year but then also eventually have a membership to the site where you would get all of those included in your membership throughout the year. So we’re looking at doing our second one probably late February, maybe early March, focusing on pain and inflammation. And we’re also going to try to have a session on CBD since that’s something that’s very popular right now and a lot of pharmacists have questions about because their patients are asking questions. And I think that’s the other thing about functional medicine that’s so important is whether or not you’re interested for yourself, a lot of your patients are interested and they’re asking you questions about way more herbal supplements and different products than they probably ever have. And so really being able to have the tools to answer some of those questions I think for a lot of people is important. I just kept hearing over and over, like hey, where do I get good information about this? And so I really just felt like we needed to try to provide that.

Tim Ulbrich: So when you think of threats to this, I think of the concept of how do you bulletproof your business, right? So you mentioned membership, which I’m guessing is maybe one answer to this, but what thoughts do you have in terms of the next person who comes on and says, “Well, I’m going to offer a free symposium, and I’m going to offer it for $79.” Like what’s the differential advantage that you see here? Because I think that’s an important aspect people need to think about when they’re working on a business idea is of course there will be competition, but what differential advantage do you have to this business model that you think will allow you to be successful in the long run?

Melody Hartzler: Well, that’s a good question. I think overall, the having a team of people of that have expertise in this subject, I mean, there’s a lot of people growing and learning more about functional medicine, so I anticipate that there’s going to be other opportunities. And I think the membership piece, we might morph into having a certificate program as well because I know a lot of pharmacists are looking for a lower cost certificate training program compared to some of the other options that are out there. I think developing a community is also important in trying to keep people engaged in your business versus looking at other places, and so I’m hoping that after this conference, we’re going to develop even just a Facebook group to start out with for people that all attended and just sort of stay connected and offering discounts for the next conferences for those that attended. And so I think trying to get the community built around it, I mean, you guys are a great example of that with the community that you’ve built around YFP. And so I think that’s really important to being able to continue to drive what you’re trying to do.

Tim Ulbrich: Yeah, I really like that aspect. And I think the book that comes to mind if people want to learn more on that, one of the books that will never leave me that I always think back to is called “Tribes” by Seth Godin. He talks about exactly that concept of how do you build a community? Another article out there is around the concept of superfans and 1,000 superfans. But building a community that are passionate about this topic, which I’m guessing people are that are engaged here, either because of personal experience or because of the outcomes they see with patients that they’ve worked with and how do you create that platform and community that they can engage with each other all the time, throughout the entire year as well as these events that may happen throughout the year. So let’s jump into some fun questions to wrap up here. And we didn’t get to talk to as much but I want to reference our listeners to you also have another site you’ve worked on, which is Farm to Table, FarmtoTable.life, where they can learn more about the blog and the work that you’re doing over there. But I want to talk about some more of the fun, lighthearted questions on the business. And Dustin, I want to start with you because obviously, you’ve gone through this process of owning your own business. You started your own media company, and I’m sure there’s many people that are listening to this podcast that have some type of business aspiration, whether it’s big, small, medium, anywhere in between, they’ve identified maybe a problem that they see as unsolved, the process that could be done better or differently, or maybe there’s others that are just out there feeling stuck and they don’t even have an idea formulated but know they want to do something different. So from your experience of both starting a business and now working with Melody on this, what advice would you have to them in terms of next step that they may be able to take?

Dustin Hartzler: Yeah, I think it all really depends in your life is like, it depends on how much time you have. Like if you’re young, you’re right out of school, like you have so much time available to you that it’s kind of silly that you say you don’t have enough time. But I think really, the big thing is just spending some time thinking about it and just starting. Ask some people. Like when Melody figured out this thing was — she’s seen all these people commenting on Facebook and relationships and connections she has, like she saw the need there. If you find a need — you know, I found a need. I wanted it to help people have less horrible websites online, and that was a passion of mine to do that. But then also, I wanted to learn more about tech. And so the two things really came together for me, which was super nice. And so the advice is just start. I mean, it’s so hard to just start anything. But if you have a passion, you have an idea, like come up with a little thing that you can do. And I think the other thing that’s a big that was always a big thing for me was like, let’s just work on it for five minutes. Like five minutes goes by really, really fast when you’re working on something. And then all of a sudden it’s 10 minutes, and then it’s an hour. And then it’s like, wow, I spent a lot of time on this today, and I’ve made progress. I’m moving forward in the right direction.

Tim Ulbrich: And Melody, let me follow up with a different question. But you know, often people are interested in side hustles, of course, in part because they’re passionate about the idea and helping others but also the idea that there’s additional income that can be used for other financial goals and things that they’re working on. So for the two of you and your family, what are you hoping to do with the additional income that you’re earning through the business side hustle?

Melody Hartzler: Well, should I say the truth? Dustin wants a new pair of running shoes.

Tim Ulbrich: Yes.

Melody Hartzler: We definitely want to invest back into the business as part of that. So anything from this first conference, honestly, we probably won’t do much with personally but invest into this concept and continue to grow it. We may set aside some for our emergency fund or car funds because our one car has got 245,000 miles on it and something is loud in the back that needs fixing bad. So there’s that. But you know, that’s part of the financial goals. And we’ve always driven used cars and we would still buy a used car with the next step, but that’s part of how we are able to afford travel and things like that. But I think also, we want to give. We’re going to be giving back to the people that are sharing about this conference too. And so all of our speakers that are promoting the conference have a specific code and even your code and whoever’s, we’re going to be giving a percentage back to those people because again, we want to create that community and everybody is a part of that for promoting this. And it’s not just our work that’s helping to spread the word.

Tim Ulbrich: And I want our community to hear from the two of you. I sense — and Dustin, you alluded to certain podcasts that you turned your car drives and your commute essentially into an additional education or two that you received along the way — I think it’s so important for our audience to hear, what are you reading? What have you read? What are you pulling inspiration from? So Dustin, let me start with you. Is there a book or a podcast or a resource that you would reference people to that was really helpful in your own journey?

Dustin Hartzler: I have so many of these. Like I could go on for hours. I’m looking at my podcast archive here, and I’ve got hundreds that I’m subscribed to and just listen to ones that are encouraging to me. The ones that — I’m still a Dave Ramsey subscriber. Like he just gives me inspiration like hey, look what you can do when you have your financial life in order. It’s all about you don’t make money to — how does he say it? He says something along the lines of like, you really want to — look how generous you can be when you have more money and you have your life in order. So that’s one of the things that I like. So the Dave Ramsey Show is one. I listen to a bunch of podcasts that are tech-related to give me inspiration of how I can become a better developer and how I can — some of the tech tools that I can do.

Tim Ulbrich: Sure.

Dustin Hartzler: And then I’m also reading a book that was a recommendation from a podcast. But it’s called “PsychoCybernetics,” and it’s a book written by a guy, his name is Maxwell Maltz. And he’s an MD, and it was written a long time ago, before digital technology. And so it’s kind of a cool thing, it’s talking about your brain and how you can — some experiments of like thinking through the visual success. Like they did experiments with people shooting free throws. The first group — you shoot 20 free throws every day for a week and see the results at the end of the week. And you have one group that shoots 20 in the first day, and then shoots 20 on the last day and see how they have improved. And then the third group was like, they shot 20 on the first day and then they did nothing but imagine shooting 20 free throws every day. And then their percentage improved by 50-some percent, even though they never actually made a shot. So it’s kind of an interesting book. I’m still at the very beginning of it, but it gives me some inspiration of like, hey, here’s some things that it’s not all about your life and your circumstances, like how you think about things. And I think that’s really interesting.

Tim Ulbrich: Yeah, mindset and visualization. Those are great takeaways from that resource. Melody, how about you?
Melody Hartzler: So most of the podcasts that I listen to are functional medicine content podcasts. And so I really love Kara Fitzgerald’s New Frontiers in Functional Medicine. It is a good one that — she’s an MD, but she interviews people all over the country that are researchers, that are MDs, that are PhDs, that are clinicians, like doing the work of functional medicine, and goes through great protocols and just getting people’s opinions about different things and how they would treat things. Some of the people she interviews are even, you know, the lady I was listening to yesterday on my drive to Columbus for the OPA meeting was a nurse practitioner in New York that was treating a lot of weird patients and just gleaning insights from that. So I like those. I also love from a faith standpoint, “Dayton Women in the Word.” It is a local organization here. The podcast obviously airs wherever there is Internet, but it’s been a good, you know, like hey, I need to listen to something that’s about — get me away from all the business ideas because I’d drive to work and just think about all this stuff and what I need to do. But it helps keep me grounded in what my true purpose is. So obviously our church and things like that have podcasts. But sometimes I even forget to turn on the podcast when I get in the car because I — sometimes, I’ll use that time to pray and sort of reset my thought processes for the day and just pray over the people that I’m going to interact with.

Tim Ulbrich: Which is always important before you get home, especially with young children and kind of entering that space. So thank you so much, both of you, for taking the time to share your journey. And I think it’s going to be an inspiration to many. And again, I would reference our listeners to FunctionalMedicineCE.com, virtual symposium beginning Nov. 9, as well as the work they’ve done over at FarmtoTable.life. So appreciate the time that you’ve taken. And as always, I would ask our listeners if you like what you heard on this week’s episode of the Your Financial Pharmacist podcast, please do us a favor and leave a rating and review in iTunes, Apple podcasts, or wherever you listen to your shows each and every week. And as a last reminder, make sure to head on over to YourFinancialPharmacist.com/giveaway. For those that are pursuing residency training and are going through that application process, we have the ultimate residency prep giveaway going on for the next couple weeks where we’re giving away over $349 value in resources to five different winners: information on residency interviews, how to effectively write letters of intent, we have a boot camp course, and a great resource from TLDR Pharmacy as well. So again, YourFinancialPharmacist.com/giveaway. And until next week, we appreciate you joining us.

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YFP 121: Creating Another Stream of Income as an Airbnb Host


Creating Another Stream of Income as an Airbnb Host

Tim Church interviews Dr. Hillary Blackburn about how she’s monetizing her personal residence as an Airbnb host. Hillary has been able to earn thousands of dollars each year making this side hustle another consistent income stream for her and her husband.

Summary

Dr. Hillary Blackburn and her husband, Chad, have been monetizing their personal residence as hosts on Airbnb for the last five years. They use this additional income, which has totaled to over $40,000, as their travel fund. Hillary talks through what it’s like to be a host through Airbnb.

Hillary explains that Airbnb is like Uber for vacation rentals and says that it’s a great option for travelers, especially in areas where hotel prices are really high. Hillary and Chad rent their home in Nashville 14 times a year. Typically when the home is rented, they stay with family that happens to be in town or use that time to travel themselves.

Hillary explains that sometimes it’s difficult for her to share her personal space, but her husband doesn’t mind if people are there. Each year they re-evaluate whether they’d like to host their home on Airbnb and he reminds her that they can use the income for their travel fund so they don’t have to take any money out of other savings for their trips. Chad takes care of managing their profile, reservations and communicating with guests. Hillary says that this side hustle is easier on her than picking up shifts at a pharmacy.

Their home is a four bedroom, two bathroom house located in a really convenient area of the city and is generally rented out for about $600 a night. In the rental price, they’ve built in a cleaning fee and have their home cleaned by a maid once a month. The couple has friends that have bought second and third houses to host on Airbnb. Hillary explains that if you purchased a condo in Nashville and paid $2,000 in mortgage each month, you’d essentially be able to make that payment by renting it out for two weekends.

Hillary and Chad have had relatively good experiences renting their home on Airbnb. Although it’s sometimes difficult for her to allow strangers into her home, she takes precautions like locking her closet, locking the basement, and making sure certain valuables, including pictures, are secured. Her advice on becoming a host is to first use Airbnb as a guest and then simply go to the website to set up a host account.

Mentioned on the Show

Episode Transcript

Tim Church: Hillary, thank you so much for coming back on the show.

Hillary Blackburn: Yeah. Thanks, Tim. It is great to be here.

Tim Church: Yeah, I think you’re one of the few guests who has made a repeat experience, so always happy to see that.

Hillary Blackburn: Well, glad to share some more updates and some other ways that I’ve been making a little extra income and hopefully will be a good thing to share with your listeners.

Tim Church: Awesome. Excited to hear about it. But before we kind of go there, knowing that you live in Nashville, this question has just been burning that I have to ask you. OK? You have to sing karaoke. What song are you picking?

Hillary Blackburn: Oh gosh. You know, I am not always a karaoke person. I’ll tell you what my husband always sings. It’s Big and Rich, “Save a Horse, Ride a Cowboy.”

Tim Church: Ooh, that’s a classic hit.

Hillary Blackburn: Yeah. So I think he probably enjoys doing it more than me. I just like to be the backup dancers and things.

Tim Church: OK.

Hillary Blackburn: But yes, lots of good music here in Nashville. Definitely come visit and we can check out some of the spots on Broadway.

Tim Church: Love to. Love it there. So it’s been about five months since the last time you were on the show. And before we talk about kind of a different way that we didn’t talk about before on how you’re earning some extra income, can you give us a little bit of an update about what’s happening with your career and your businesses?

Hillary Blackburn: Yeah. So since May, I started an MBA course and have been doing that. That has been taking up a lot of my time. But it’s something that I had always wanted to do and really wasn’t going to commit to it if, you know, it was too expensive. Again, financial, that was a big barrier. So we have some really amazing programs here in Nashville. Vanderbilt has a very nationally recognized, Vanderbilt Owen School of Business, Belmont has a great MBA program. But I really didn’t want to commit to a $50,000-60,000 another degree already having a pharmacy degree. So found one that is online, so that’s scalable and very affordable and something that my employer was able to help finance as well. So just all wins on that front. And this one is self-paced and competency-based, so I hope to have it finished within six months. So having that existing experience in business over the past 10 years has been a lot to draw from but definitely learning in the key areas that I want to learn in. So that’s been a lot of what’s been keeping me busy. But as far as some of the other business things that I’ve been working on, of course still doing the Talk to Your Pharmacist podcast, and I do make some revenue from that. We’ve got two great sponsors, RxDestroyer, which is a drug disposal system, and Theraworks Relief, which is a topical pain foam, pain reliever. And then of course, I have just launched a new podcast called “The Natural Products Resource Center” focused on helping to educate our pharmacists and others about separating fact from fiction around natural products, particularly medical cannabis since that is certainly taking the medical community by surprise. And you know, I’ve got also a pharmacy residency boot camp online for those who are gearing up for residency. So that’s just a couple of recordings, sessions that I did last year and wanted to make those available for people at their own convenience, so it’s all online so kind of like the MBA, being able to take those chunks of learnings whenever it’s convenient for you and just kind of I was able to basically download all of these tips and things that I’ve crowdsourced from other residency directors and organizations that are actually doing the residency process. So they’re doing the recruiting and hiring, so what they’re looking for. And then just tips for navigating Midyear. So I have been staying busy, Tim.

Tim Church: I would say so. It sounds like it. I mean, I’m just blown away. I feel like you just keep mentioning new things that I don’t even know about by the time that we got on this recording. So that’s really exciting. So it sounds like the MBA is taking up quite a bit of time. How many classes are you taking at one time?

Hillary Blackburn: Yeah, so I take — the way this program, it’s Western Governors University, which is a nonprofit university started by 19 governors to really make higher ed really affordable. They set it up as six-month terms, so you can take as many classes as you want in one term. So if as soon as I pass one, then I’m going onto the next. So I’ve already hit leadership and communications and marketing, ethical leadership, accounting — accounting and financial management were definitely the areas that I’ve had to dig in and really study. But right now, my husband and I don’t have children, and so we can really — if we’re not traveling or doing something fun, which we love to do, we’re pretty buckled down on the weekends and can knock out 20-30 hours in a weekend of committing to studying.

Tim Church: So when a lot of people are binge-watching “Downton Abbey,” “Poldark,” other shows, you’re basically hustling, grinding it out, trying to not only further your education but also your businesses as well.

Hillary Blackburn: Right. Don’t ask me if you want to know the latest TV show. Although I did watch all of the “Outlander” series that are out. So I’m a big fan of “Outlander.”

Tim Church: OK, OK. Well, you mentioned to me after a call that we had a number of months back that hey, by the way, I also have another side hustle. And that’s kind of why we set this podcast up because I think it’s really a cool and somewhat I’d say — I don’t know if I want to say easy, but not as time-consuming as other things and other side hustles that are out there. But that is becoming an Airbnb host.

Hillary Blackburn: Yeah.

Tim Church: Talk about what Airbnb is for those of the people out there that don’t know what it is, even though it’s been around for a number of years, and how do you become a host?

Hillary Blackburn: Yes. So Airbnb, for those that are not familiar, it is basically like Uber for vacation rentals. So people are probably most familiar with VRBO or others. Well, Airbnb has basically helped any homeowner or apartment owner or whatnot, depending on, of course, whether your city and state allow it and whether you have to have any type of licenses and things. And if anyone has those types of questions, my husband navigated all of that. He had to go down and you’ve got to get your permit and there’s a fee for that. And then you have to take out taxes and all of those regulatory things. But Airbnb is such a great option not only for travelers — the very first experience I had with Airbnb was as a traveler. So we were going to Houston for a wedding and hotels were all really expensive. We wanted to be a little bit more affordable and booked a studio through Airbnb. And the great thing about Airbnb is that just like Uber or Lyft, there are ratings and reviews. So not only do you rate and review the accommodation, but you as a guest are being rated and reviewed. So it’s because of that review type of setup that, you know, that kind of I guess dissuades any of the fears that someone stranger is going to come into my house and mess it up because you do have that opportunity to review them. And so if you have a bad guest, you’re going to rate them bad, and they won’t ever be able to use the service again. And Airbnb does allow for you can put in for cleaning fees, you can set that into your price. You can also — they have a very hefty insurance package. And then if you notice anything that potentially does break or something, you can always charge the guest. So they have all of those things, insurances in place. But since we have been doing it with our own home for the past 5+ years, we really haven’t had any major issues. We are sensitive. We don’t let all the bachelorette parties come because we are in a residential area. And you know, we live here. It’s not a second property that we just have furnished. We actually live in the home and rent it out up to 14 times per year because after 14 times per year, then you have to start doing like the federal taxes. And for us, you know, usually it works out that if someone’s wanting to come stay, we are traveling anyway or we have family in town and we just can go and stay with them.

Tim Church: So Hillary, I want to back up just for one minute because I bet there are people listening right now and saying, ‘Hillary, are you kidding me that you are letting complete strangers stay in your own home?’

Hillary Blackburn: Yes. I am a little crazy, yes. So Tim, as I mentioned, I do have this love-hate relationship with Airbnb. So as a guest, I have loved being able to use it. Now, don’t get me wrong. If I’m traveling for work and then I’m probably going to use a hotel because work is paying for it. And I still try to be very frugal, of course, but there’s something about a hotel that you kind of know what you’re going to get. But there’s definitely some gems, some like really awesome houses. Or for instance, if you’re traveling to a city and you’ve got a big group, you could all rent out a big house and then you’re all together instead of being in a couple, you know, lots of different hotel rooms. So alright, getting back to letting people stay in our home, so my husband started doing it at our house before we got married. So he was an early adopter and had roommates, and it was a great way for them to rent out their fourth room for all these people that like to visit Nashville. And I actually did it a couple of times before we got married because I had a two-bedroom condo that the roommate, my roommate had moved out, and so I was letting people come in to that second room. I had my door locked but all of the general areas were fine. So once we got married, I’m like, OK, we’re not going to do Airbnb anymore. But it’s funny because if you start to think of your house as an asset that is just sitting here and not making any money, then that’s kind of the incentive that my husband uses. And then the way he gets me to do it is that that is our travel fund. So if anybody knows anything about me, they know that I love to travel, we love to travel together. We’ve been on some amazing trips. And a lot of the way that we’ve been able to do those is from this extra income. So we’re not using — we’re dual income, no kids, so we’re just trying to socket away for retirement, live off of one income. So we’re living off of mine. And so instead of having to steal from our retirement and our savings to do all of the amazing travel that we do, you know, we’ve got a trip to San Francisco coming up this week and then we’re going down to Mexico City in November with a group and hopefully we’re going to use our Southwest companion pass to go to Hawaii over Christmas. So those are just some of the things — but those are some of the big trips that we’ve kind of done all year. So we’re kind of all queueing those up for Q4 it seems.

Tim Church: So he knew exactly how to persuade you into this, right?

Hillary Blackburn: Yeah, you need to know your spouse. Exactly. So a lot of my friends, a lot, a lot of my friends would say, ‘Absolutely no way am I going to let somebody come into my house and stay here.’ And there are definitely times when I have had tears and we’ve had some — Chad and I have had some really difficult conversations. And it’s like every year, I’m like, never again. And then I’m like, oooh, but we want to go on this amazing trip. So it’s kind of like when I see the trip in mind, I’m like, OK, OK, we can do it.

Tim Church: And is that because just the thought of more strangers coming into the house? Or have you had some somewhat bad experiences that make you hesitant to continue on?

Hillary Blackburn: Well, I don’t know if this is just being a female, but you know, he operates very differently than I do. And he doesn’t mind if people are here at all. For me, I’m like, oh, this is my personal space. You know, this is our home, like I have all of my personal pictures, all of the furniture that we’ve gotten and different things. Like all my clothes, I do lock my closet, so that is something that I do. But you know, there’s certainly areas like my bathroom, I’m like, well, I definitely have toiletries out for guests, but people are nosy, so people could be like — but yeah. It’s just something that you kind of just have to get over. I was just listening to Malcolm Gladwell’s book, “Talking to Strangers,” and yeah. It’s like instead of just thinking that everybody is out for the bad, you’ve kind of got to think about air on the side of truth. And so I think just knowing that people want to be respectful, they’re coming to stay in your house, they know it’s a house. We do have house rules. There is a ratings system. We really haven’t had any — I think one time before we got married, we had some partiers. And the police were called once or twice during the whole weekend by our neighbors. So that was not ideal. And we’ve had maybe one other issue where we’ve had like a wine glass break, but they were cheap wine glasses. You know? And so I really haven’t had anything where like I’ve had a stain on a sofa or anything like that. But heck, if that happened, then you just charge them. And then you get a whole brand new sofa.

Tim Church: Right, there you go.

Hillary Blackburn: So part of me is like, well, before I really do a whole lot of any kind of redecorating, now’s the time. Once we have kids and everything, then that gets a little bit harder to do. So right now, we’re just really trying to utilize all of our resources and be good stewards of what we have.

Tim Church: Well I think the other thing too is that as a host, not everybody knows this, but you get up to a $1 million worth of property damage protection in case you need it.

Hillary Blackburn: Yes.

Tim Church: And so that is one of the things that I think can make it a little bit easier to let people be in your primary residence or whether you have another property, knowing that you do have some protections in place.

Hillary Blackburn: Yeah, exactly. And then on the flip side, if you are traveling, like to Nashville, for instance, the hotel prices are outrageous. There’s not enough hotels for all of the people who are wanting to visit. And you know, you can really get some great deals on Airbnb and make your vacation really affordable.

Tim Church: Definitely. I was going to get into that a little bit, but I think that’s one of the biggest reasons why it’s becoming so popular with the millennial generation. And I was looking at some statistics and that 30% of millennials, they’ve had a very positive opinion of the service. And about a quarter of them have stayed at least once in an Airbnb. And definitely I think it’s disrupting the hotel market to some degree because not only is it more economical in many cases, but I think also to especially some of the more exotic places or just different is that people get a really unique experience.

Hillary Blackburn: Exactly.

Tim Church: So let’s talk a little bit about the economics. You mentioned that your cap per year is 14 different reservations through the year. Is that correct?

Hillary Blackburn: Actually 14 nights. So I’m really not doing it that much.

Tim Church: 14 nights. OK.

Hillary Blackburn: Yeah. I mean, we have some friends here that have bought second and third properties. So a lot of people want to buy a second home and make money from that, put it on the rental market. You can honestly make more money on the Airbnb market than on the regular rental market. So say, you know, a Nashville rate for maybe a condo, two-bedroom condo, $2,000. Well, you could make that in two weekends if you were doing Airbnb. So you know, you don’t have that guarantee that it will be booked up all the time, but if you start getting a lot of great reviews, then you become a Superhost and then you get rated higher, and so people are going to find you. So that gets a little bit into the marketing of your Airbnb I guess. But we could talk more about that.

Tim Church: So are you pretty consistently booked for those nights?

Hillary Blackburn: Well, so we — since we only have like 14 nights, we leave open our calendar a little bit during spring and fall. We found that those are two of the biggest times of year. So fall being that we’re a mile away from Vanderbilt, lots of people come in wanting to stay during the fall. And then spring in Nashville is very fun. So that was just seven weekends or if we have a three-night stay or two three-night stays, then that’s five weekends. So yeah, we don’t have just 14 days out of the year. We’ll close off for the rest of the year. We have one more Airbnb at the end of the year — I mean, sorry — at the end of the month, and then we won’t do it again until 2020 if we do, which I feel like I’m getting more and more comfortable. Another thing, too — so we have Ring, which is basically I guess a webcam for your front door or something. I feel like I should be getting some royalties for all of these products that I’m promoting.

Tim Church: Yeah, exactly.

Hillary Blackburn: So Ring, we had that installed maybe about a year or so ago. And you can see when packages are dropped from Amazon, you know, a lot of time people have challenges with people stealing packages. We didn’t have that issue, but just for more security purposes, I obviously like privacy and security. And those are two values that I hold dearly. And so it’s just nice to be able to see like when there’s movement at your front door, you have a package, who’s at your door while you’re away. Maybe you’re traveling and on vacation, you want to see what’s going on at your house. Ring is great for that. But what I’ve found is that I have to turn off Ring when Airbnb guests come because for me, it’s like out of sight, out of mind. I don’t want to know who’s staying there, when they come and go, any of that. I let my husband handle all of that because otherwise, it just works me up into a tizzy. So he does all of the management for our Airbnb. He’s talking with the guest, he shows up and does a walk-through with them. Basically, I think once they know that you live there and it’s your home, then they’re going to treat it more respectfully. So he manages all of that. So that’s what we’ve found works for us.

Tim Church: So what does a typical night, what does it cost to stay in the Blackburn residence bnb? Actually, I was going to ask before you answer that, do you have a nickname for your Airbnb property?

Hillary Blackburn: Anchor Down.

Tim Church: Alright.

Hillary Blackburn: So since it’s close to Vanderbilt, it’s called Anchor Down because that’s kind of their motto or whatever because they’re the Commodores.

Tim Church: OK.

Hillary Blackburn: So yeah. So also, Airbnb has an algorithm available. So they know when there are hot markets. So you know, maybe the Labor Day weekend, Vanderbilt-Georgia game, or other weekends, like the Draft. We were out of our house for the draft weekend too. Lots of people come in. So when those weekends hit, then the price goes up. So a typical price per night is usually around $600. And we have a four-bedroom, two-bath house. It is really conveniently located, you know, close to downtown, within the 440 Loop, it’s a beautiful Craftsman-style home. So it’s amazing. We were able, fortunate to have bought this in the downturn. So my husband bought it 10 years ago, so in 2009, and so of course, the property value has just increased over the past 10 years with Nashville being such a hot market. So hopefully when we’re ready to sell, we’ll be able to do well. But yeah, so usually, it could be anywhere around $600 a night. So once they take out taxes and things, like this past weekend, we made $1,200, yeah, just under $1,200. So not too —

Tim Church: So that was the profit to you?

Hillary Blackburn: Yeah, profit.

Tim Church: Wow.

Hillary Blackburn: So it’s way easier than me going and picking up a shift at a retail store, which I still work PRN but have not been doing that as much because I have all of these other things keeping me busy. But yeah, so for changing out the linen, I change out the linens, I change out the towels, I do lock my closet, he locks our basement. We pull out a few really personal pictures, make sure that our refrigerator is cleaned out. I don’t remove all the condiments and everything. I used to be way more intense about what I would clean out and what I wouldn’t. But honestly, sometimes people end up leaving us food. They’re like, ‘Oh, we have all this extra alcohol left and we’re flying out.’ We’re like, ‘Great.’ So yeah. I mean, it’s been something that we’ve been doing for almost five years. And you know, we’ve been able to really make some awesome memories traveling and not have to steal from our other funds.

Tim Church: Yeah, so it definitely sounds like yes, there are definitely some concerns and maybe some inconvenience around being a host and doing that.

Hillary Blackburn: Totally.

Tim Church: But the opportunities that being a host gives you and affords you really outweighs all of those other things and concerns. Would that be fair to say?

Hillary Blackburn: Yeah, I would say that. And eventually, are we always going to do Airbnb? Probably not. But for right now and the home that we’re in and the time in life that we’re in, it is a great way to make some extra income.

Tim Church: And so what would be a typical yearly earning that would actually be profit for being a host for your property?

Hillary Blackburn: Yeah. So I guess anywhere like $8,400?

Tim Church: OK, OK. That’s a nice side hustle. And you said this — what year is this?

Hillary Blackburn: We’ve been married four and a half years. And he’s been doing it for six. And he actually did more than 14. They changed a lot of the rules. So I would say even conservatively with the 14 days, we’ve made $42,000 in five years.

Tim Church: So you really are making sure that your house is an asset.

Hillary Blackburn: We are, yes. And we get it cleaned. We have a maid that comes every month.

Tim Church: Yeah, that’s what I was going to ask you is so you’re changing out some of the linens, but are you paying someone to come in and clean between every time there’s a guest?

Hillary Blackburn: Yes, but I already have a housekeeper come once a month just to help me keep everything clean.

Tim Church: So you mentioned kind of the average cost per night for your Airbnb. Does the Airbnb platform automatically adjust during those points where they think you can charge more?

Hillary Blackburn: It does.

Tim Church: Or is that something that happens automatically?

Hillary Blackburn: Yes.

Tim Church: OK.

Hillary Blackburn: Yes. So it’s just supply and demand.

Tim Church: So you don’t have to necessarily guess what the best price is going to be or trying to always go higher than what the standard or recommended amount would be.

Hillary Blackburn: Right. And they allow you to set your own price and, you know, you can also block your calendar for certain dates when you don’t want people to stay. You get to talk to the people or you hear they’re for a bachelorette party, and they’re like, ‘No, we’re here for a family reunion.’ We’re like, ‘Great. We love family reunions because the moms and the grandmoms always end up cleaning before they leave.’ So yeah. For the most part, it’s been really pretty great.

Tim Church: What tips would you have for people who are interested and maybe want to get started? And what should they avoid when they first become a host?

Hillary Blackburn: You know, I would just check out the Airbnb — you know, I would be a guest first, actually. I would totally start with being a guest. Check it out as a guest the next time you’re traveling, see how it works. It’s very easy. They even have an app, so you’re like literally texting and communicating with your host. So you get that experience, and then you basically just get on the Airbnb website. They have a different profile for you if you’re a host.

Tim Church: So one last question, Hillary. What do you do or what have you done to make the guest experience memorable? Is there anything special?

Hillary Blackburn: You know, one of the things that we do is you know, we have a guide, we put bottled waters by everyone’s bed, just making sure the house is clean and orderly, and then just being a really responsive host. So I think that we do all of that and have always had really great reviews.

Tim Church: And has that got you to that superhost status that you were talking about a little bit earlier?

Hillary Blackburn: You know, we did have superhose status but only doing it for 14 times out of the year, it’s kind of hard to maintain that.

Tim Church: Well Hillary, thank you so much for coming back on and sharing a really cool side hustle. I think it’s a great way to earn extra income, whether you’re using your own residence or whether you have an additional space or property because as you mentioned, it doesn’t take as much time as going out and working an 8-10 hour shift to pull that in. Now, obviously, it’s going to depend on where you live and kind of what the rates are. And if you’re interested in learning what your space or property would rent for, you can check out our Airbnb earnings estimator, and that’s at YourFinancialPharmacist.com/airbnb. So Hillary, thank you so much for coming back on the show. What is the best way for someone to reach out and contact you?

Hillary Blackburn: Yeah, so I am on all of the different platforms. So Instagram, @talktoyourpharmacist and Facebook @TalkToYourPharmacist, I have a page as well. Also pretty active on LinkedIn. You can search for me at Hillary Blackburn and then on Twitter @hilblackburn. Oh, and of course my website, www.pharmacyadvisory.com.

Tim Church: Well thank you so much, Hillary, and looking forward to all the work and what you have ahead.

Hillary Blackburn: Awesome. Thanks so much for having me back as a guest.

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YFP 112: Why One PhD Pharmacist is Taking on Two Side Hustles


Why One PhD Pharmacist is Taking on Two Side Hustles

Dr. Brent Rollins, a pharmacy graduate of Ohio Northern who obtained his PhD in Pharmacy Administration at the University of Georgia and currently serves as a faculty member at Philadelphia College of Osteopathic Medicine, joins Tim Ulbrich on the show. They discuss Brent’s personal finance journey, why he cares so much about the importance of educating students on this topic, his unique side hustle in serving as both an expert witness and covering professional football, and how he is teaching his 3 kids about personal finance.

About Today’s Guest

Dr. Brent Rollins is an Associate Professor of Pharmacy Practice at the PCOM Georgia School of Pharmacy. He received his BS in Pharmacy from Ohio Northern University and then a PhD in Pharmacy Care Administration with an emphasis in Pharmaceutical Marketing from the University of Georgia. He has published numerous peer-reviewed articles and given presentations on health care consumer behavior, particularly focusing on direct-to-consumer prescription advertising, and the scholarship of teaching. He is the primary co-author of the textbook titled Pharmaceutical Marketing and co-author of another textbook, Financial Analysis in Pharmacy Practice. He is a member of Georgia Medicaid’s Drug Utilization Review Board. In addition to his day job, Brent also serves as a consulting pharmaceutical marketing and pharmacy practice expert witness for various law firms and works as an Analyst and College Football Writer for Pro Football Focus (www.pff.com) and now UGASports.com. In his spare time, Brent enjoys spending time with his wife, Deanna, and three children – Carson (12), Camron (11), and Breleigh (8) – and coaching youth football, basketball, and baseball.

Summary

Dr. Brent Rollins joins Tim Ulbrich on this week’s podcast for a discussion covering personal finance education in pharmacy school, side hustles, and his personal story.

Brent shares that personal finance education in the pharmacy curriculum is so important because there’s a large debt load that many pharmacists carry and more students don’t know how to manage their money. He explains that the pharmacy profession is evolving. When he moved to Atlanta and was going to attend graduate school, he was able to call to obtain a job. Now, it’s more difficult to do that and pharmacists need to focus on the business side of their degree. Brent’s ideal personal finance curriculum in pharmacy administration entails a consistent approach that starts as soon as the student steps on campus. He envisions hiring directors of careers to help show students different job paths and also offer seminars and educational sessions for students to learn more about personal finance.

Brent obtained his BS in Pharmacy in 2004 from Ohio Northern University and continued his education at the University of Georgia where he received his PhD in Pharmacy Administration. He decided to take this route because of advice from a local pharmacist he knew from his hometown, Dr. Sullivan. Dr. Sullivan said that you have to look at pharmacy like a game of chess; if you’re just a pharmacist, you are only a single piece on the board. You have to find what your king piece is that allows you to move anywhere on the board. From this, Brent knew he wanted to diversify his education while also fulfilling different passions, like business and money.

Brent and his wife aren’t shy about communicating with their three children about money. He talks to them about only making purchases if you have the money to pay for it and avoid credit card debt. They speak about how to save for large purchases, but also focus on how experiencing and living life is more important than material items.

Brent has two unique side hustles and shares that side hustles are invaluable as your day job can sometimes become monotonous. He says that side hustles allow you to do something you’re passionate about while being able to step away from his daily grind. Brent works for Pro Football Focus where he collects data on football players, plays and games and will also be content writing for them this season. He is also an expert witness and primarily has two types of cases: marketing (big pharma, patents) and standard of care.

Mentioned on the Show

Episode Transcript

Tim Ulbrich: Hey, what’s up, everybody? It’s my pleasure to have on today’s show Dr. Brent Rollins, an associate professor in the Department of Pharmacy Practice at Philadelphia College of Osteopathic Medicine in Georgia. Dr. Rollins completed his BS in Pharmacy at Ohio Northern University — Go Polar Bears — and his PhD in Pharmacy Administration at the University of Georgia. Brent, welcome to the Your Financial Pharmacist podcast.

Brent Rollins: Thanks so much for having me, Tim. Pleasure to be on. Love what you guys are doing with this.

Tim Ulbrich: Thank you, I appreciate that. And in addition to sharing our alma mater, Ohio Northern, we share a passion for personal finance education and the importance of side hustles and teaching kids about money, all of which we’re going to talk about on today’s show. So before we jump into your career and your financial story, I want to start by talking about the importance of personal finance education and the PharmD curriculum. And I think we would both share the importance of starting way before pharmacy school, but we’re going to focus on the area that we have the most opportunity to impact. And as I was reflecting on our conversation several weeks back, getting prepared for today’s interview, I was struck by your passion for needing to do more when it comes to teaching personal finance to our students. So tell me a little about where does this desire come from for you in terms of why we need to be doing more for our students on personal finance education?

Brent Rollins: I think in general, it’s mainly just my own — I like looking at money. I’m a numbers guy. And as we’ll maybe find out later when we talk about the football stuff that I do, numbers are somewhat of a passion for me, and money is the primo number we all care about, in a way. And the biggest thing that I saw was just within pharmacy school myself, watching UGA as a graduate student is when you get students talking about personal finance, money, business in general, you see eyes come open a little moreso. You see a renewed interest, you see something like, oo, this is 100% relevant to me and everything that I’m going to do moving forward. Thus, I care greatly about this.

Tim Ulbrich: And why is that, do you think? I experience the same thing, and that’s what gets me so excited is the feedback from students like, wow, we need more of this. I wish I would have had that earlier. What are the gaps that you think are there right now with students. Why are they feeling this pressure and concern around this topic? I mean, obviously, the debt load, but what else?

Brent Rollins: I would say debt load is very much there. And then also I think you’re seeing more and more students who one, they haven’t really had to manage money in their life. Thus, now it’s becoming a thing, specifically for maybe a younger student who’s two years and then straight to pharmacy school and things of that nature. But also, a lot of the students who’ve been out in the workforce for two, three, four years, especially where we are at PCOM, is you have those that are maybe in their mid- to later 20s in pharmacy school, sometimes even in their 30s and this is maybe even a second career for them. And really getting that knowledge and getting a handle of it as they move forward is I think of big importance for their own personal well being.

Tim Ulbrich: So with your Pharm Ad background, we’ll talk about that here in a little bit, I’m assuming you’ll fold some of this into your existing coursework. I know some colleges embed personal finance education in Pharm Ad courses; others do nothing at all; others have standalone courses, so tell us about what you’re doing at PCOM and maybe the desires you have even going forward because I’m assuming we have students listening, we have faculty listening, they may be able to go back to their colleges and say, oh, I really liked this idea or here’s some opportunities that Brent’s thinking about that we could utilize in our college as well.

Brent Rollins: The first thing I do is in terms of actually structuring the curriculum, it’s a piece of the Pharm Ad course, much like you see in a lot of other places. But one, we don’t ignore it. And the second part of that is there’s other pieces within the course, such as the topic of entrepreneurship in general, that personal finance continually comes up and a lot of the examples that I use, even when you teach basics of accounting and financial statements, profit-loss, those examples then become a personal finance type example. So as much as I possibly can, we try to interject — because I think it’s relevant. And it helps students truly just grasp it because whether or not maybe they understand certain concepts of pharmacology and all the things that we teach from a therapeutic standpoint, every single one of them grasps personal finance in that hey, I don’t have enough money to pay x or go on x trip.

Tim Ulbrich: So Brent, one of the things I hear — and I would say that this is changing rapidly, of which I’m grateful for — is that I think there’s still somewhat of an old-school thought of there of in some places, hey, personal finance education is really not pharmacy education, it’s not the sciences, it’s not what they need to be knowing and doing to be ready as a clinician. I obviously disagree with that wholeheartedly. I mean, to me, it’s a part of professional development, and I think we have an obligation to our students. I mean, what would your response be to sentiments like that?

Brent Rollins: I’m 100% on your side. And the biggest reason I would say that is just the evolution of the profession in general to where it’s not necessarily — I mean like, for example, when I graduated, I moved to Georgia to go to graduate school, I made a few phone calls, and shortly thereafter found a place to work part-time and then eventually full-time during graduate school. It wasn’t that difficult. And now that world doesn’t exist. It’s, to me, the business of pharmacy and the world of pharmacy is much like getting a business degree where things like right time, right place, right internship, knowing the right person.

Tim Ulbrich: That network, yep.

Brent Rollins: Or hey, I’ve got to go somewhere else to work my way up to where I want to be. All these ancillary things that matter for basically the rest of professional life outside of pharmacy and some other healthcare professions, those things now matter. And that, to me, is why educating students on one, personal finance, but two, just the realm of business and how the business world works becomes much, much more important.

Tim Ulbrich: We have over the past couple years been going to a lot of colleges, and we’ll come on campus for an hour or two. And one of the follow-up questions I often get because of the energy we see among the students is the faculty will say, “Hey, Tim, what do you think this looks like ideally? This is great to have a one-hour session, maybe a two-hour session, but obviously it’s not necessarily impacting all students, and it’s not necessarily longitudinal and intentional in its design,” so if you were to think about sort of the ideal personal finance curriculum in a pharmacy education, putting time aside and resources and other things, what would that look like to you in terms of how it’s delivered, when, and at what level along the way?

Brent Rollins: To me, it would look like a consistent approach from Day 1 that students step foot on campus. And I don’t know that I see it — it might exist. This might exist, and I haven’t looked specifically. But I see colleges of pharmacy and schools of pharmacy hiring directors of career or careers. And their job is specifically to help students, show students the different career paths, provide students internship help, I mean, a lot of that stuff is a lot under Student Services at some point now, currently. But I think it becomes more of an individual focus that we are directing your career, not just educating you on how a drug works and the side effects that it causes. And thus, over the period of the consistent three years that most students are on campus, there’s seminars from different people, there’s educational sessions from financial planning, how to buy a house, all that. We actually, at PCOM, we actually do a pretty good job of that. But it’s a campus-wide Student Services type function. But it’s not a mandatory, everybody comes, it’s a part of what you do. It’s more of a hey, here’s this evening seminar from this financial planning guy. Or here’s this evening seminar from a mortgage rep. That sort of thing. I think it becomes more and more a consistent approach, and it becomes — from an ACPE standpoint — co-curricular type thing that really helps from accreditation as well.

Tim Ulbrich: Yeah, and I share that with you. I think in my experience teaching this in an elective environment and working with other colleges, I think it tends to be a hey, we have a resource here for you if you want to engage, great. But what I typically see in those environments, especially when we talk about finance and money and a topic that for many is taboo, typically those attending it are already at a higher level or have a higher interest or have a higher concern. And to your point about kind of the requirement, most of the dreams that we have at YFP is to really move the needle and trying to move this as a requirement. And co-curriculars are nice, but co-curricular often still involves a menu and a selection, and it may not be for every student. And I think there’s some level of personal finance education that should be foundational for every student. Again, I truly believe we have an obligation, and I’m hoping we can help facilitate, just like you and I are talking here, that a lot of colleges are trying to do their own thing in this, and how can we share resources and syllabi and other things? And I hope if there’s faculty listening, we could begin to make those connections to try to leverage the expertise we have of various individuals across the country — and knowing faculty are busy and not having to reinvent the wheel at each of these institutions.

Brent Rollins: 100% spot on. And I know for darn sure, I send them to your website and tell them, hey, prerequisite for coming to class today, listening to this podcast.

Tim Ulbrich: I appreciate that. Well, we always say it’s everything that we wish we would have known while we were in school, so I’m grateful for that. So before move on to sum up your personal story, both career and financial, I have to just ask you, in your role as a faculty member, but we’re in a time period right now obviously leading up to a political election coming up in the future. We’re not going to talk politics, but we have to talk forgiveness a little bit because there’s some pretty bold plans coming out. You know, Bernie Sanders has a plan that was released recently, Elizabeth Warren, and I don’t even think we have to get in on the specifics of these plans because they’re going to change over time but rather I just want to get your feedback on the concept of forgiveness. You know, is it a good thing for pharmacy graduates? Is it a bad thing? You know, who should qualify, who shouldn’t? And does it really solve the problems? I mean, what are some things that we should be thinking about when it comes to forgiveness and pharmacy graduates?

Brent Rollins: That’s an absolutely outstanding question and one that for me, personally, I don’t know the right answer. I don’t know that there is a right answer because much like — I’m just a massive proponent of two things: One, competition, and two, sort of earning and everything that you get out of this time that you have on Earth and the work ethic that you put into these things. Now, from a resource standpoint, would it be better off and students, hey, I can go do what I want and not have to worry about these things? Of course. Me personally, I didn’t have the $150,000 student loan burden that other students and a lot of the students, the majority, have, and I realize what that means. But it’s also about sort of learning and learning how to evolve and being challenged. And financial challenges are just as much a challenge as a physical challenge or as a hey, I’m 5’9” in a 6’5” world, you know, in terms of basketball or something like that. Those challenges are things that people have to learn to overcome because every day, whether we like it or not, you have to go compete. And I guess my sentiment is hey, let’s learn, let’s evolve, as opposed to just making it something that totally, in essence, you don’t have to think about. Who knows? It’s a fantastic question. There’s so many economic ramifications of it that we could go into forever and people way smarter than I that have opinions on, but it is an interesting topic, for sure.

Tim Ulbrich: Yeah, I think your point’s a good one. I mean, it’s obviously very complicated, and actually, Richard Waithe and I, Richard being the host of the RxRadio podcast, we just recently had a great conversation on this topic specifically in more detail. So I would reference our listeners to check out the work that he’s doing over there, which is fantastic. So a shoutout to him. What I struggle with — because even these two plans aside, we talk a lot on the podcast about Public Service Loan Forgiveness, and I always am encouraging people, it always has to be a conversation of the math plus. And the plus is all the other variables that often get overlooked, so when we talk about paying off debt, you have to account things like the rest of your financial plan and your spouse and how it impacts your family and how you feel about the debt. And when I think about my journey going through paying off a couple hundred thousand dollars of debt, I’m not suggesting this is for everyone, but I don’t think my financial plan on the back end would be where it is today if it weren’t for all the lessons I learned throughout that. Now, does it mean it has to be like that for everybody? I don’t think so necessarily. But I think that has to be a part of the conversation when you have a discussion like this in terms of some of the forgiveness options.

Brent Rollins: Yes, that’s 100% on point.

Tim Ulbrich: So jumping to your personal career story, you graduated in 2004 from Ohio Northern, BS in Pharm, went on to pursue a PhD in Pharmacy Admin. So why did you go that route? Share with us, our listeners, about the route in Pharm Ad?

Brent Rollins: Well, first off, we’ve shared a great professor who very much made an impact on me at Ohio Northern and who’s currently at Ohio State, and that’s Donny Sullivan.

Tim Ulbrich: Amen to that. Yeah.

Brent Rollins: And Dr. Sullivan sort of took me under his wing in a way and just showed me a different world. And for me, I was always looking for something else when I went to school. And luckily enough, I was the last class that had the choice of the BS versus the PharmD. And I knew I was going to graduate school, so that’s one year of tuition I didn’t have to pay. But a pharmacist in my hometown who owned a pharmacy, went to my church, just a great human, told me that — before I went to school, he said, “Look, Brent, you have to look at pharmacy like a game of checkers.” OK, that was a little interesting.

Tim Ulbrich: Yeah.

Brent Rollins: And I was like, “OK, so what do you mean?” And he said, “If you’re just a pharmacist, and that’s all you do, you are a single piece on that checkerboard. You can only go certain places. You have to find whatever it is for you that becomes your kingpiece —

Tim Ulbrich: Great wisdom.

Brent Rollins: — that allows you to move anywhere on the board.” And I took that with me. And I tell students all the time that same exact sort of philosophy, and that’s what led me to hey, and business and money was always something — and numbers — was always something interesting in the first place, so doing research under Dr. Sullivan, presenting at some meetings, those sort of things, it just led to that and led to exploring a graduate option.

Tim Ulbrich: I’m going to steal that, by the way.

Brent Rollins: Steal it all day, every day. It’s a great one. I like it.

Tim Ulbrich: Yeah, and it’s so timely in kind of the state we’re in as a profession now. I think it’s great wisdom and something I want to share with my kids but also students. But I think more timely than ever with some of the things that we’re facing now. So you get your PhD in Pharm Ad from the University of Georgia, so tell me about how that connects with your current role and what you’re doing at PCOM.

Brent Rollins: So one of the things — when we moved to Georgia, and it was basically — I’m originally from West Virginia, went to Ohio Northern, and then so I looked at West Virginia University and then everywhere south because I had had enough of the frozen tundra, unfortunately, at Ohio Northern. But we just, in terms of fit and faculty fit as well as just the life fit part of it, that’s why we came to Athens. And I just, I love it here. I love living here as much as anything else. And thus, so once I graduated from graduate school, looked at various academic jobs, interviewed, and then PCOM was opening just at that exact same time. And it just worked out to where I was able to come here and was offered a job here and have been here since the school was opened. So for us, it’s just — it would take someone like adding a 0 to my salary or something like that for us to move just because we love where we live so much.

Tim Ulbrich: And I think that’s a good connection and obviously, you and your wife have three children, you shared with me 12, 11, and 8 years old. And I think the academic life fits well with activities with kids, and I know your kids are active as well. And so I want to transition and use that as an opportunity to talk a little bit about how you and your wife have effectively worked together and maybe some of the things that you guys have implemented to do that well and where there’s been challenges and then also talk briefly about what you’re doing in terms of teaching your kids about money. So when it comes to this topic, we all know the data and the literature, it’s difficult for spouses to work together, to be on the same page. My wife and I have shared some of this on the podcast. So have you and your wife always been on the same page? And I’m guessing the answer may be no, but talk us through about how you practically work together when it comes to your financial plan and more specifically, how you resolve differences.

Brent Rollins: I think for the most part, we have. I mean, there’s always certain little things here and there like we’ve built two houses and we just finished building a house recently, and there’s always like, “Hey, I would like this,” kind of argument. And I’m like, “Well, hon, that’s great. But that also costs this.”

Tim Ulbrich: Right.

Brent Rollins: So you know, those sorts of things. But in general, we have always stayed on that same page, and we have a lot of the same interests in that we, for example, we have — I wouldn’t say extended ourselves, but we’ve spent just a little bit more on homes than we maybe would if we enjoyed traveling around the world or something like that because we enjoy our time at home, we enjoy spending time with our kids at home. So that was definitely something that’s helped over time. And my wife is very much, she’s not someone who’s just going to go and spend crazy amounts of money on anything. For me personally, the only thing I care about in terms of spending money is I want to be able to go out to eat when I want to go out to eat. And if I want to go to a ball game, I can go to a ball game. Outside of that, I have no sort of massive wants and desires in that standpoint. So for the most part, we have very much been on the same page. And even like for example, when I was in graduate school, I worked full-time as a pharmacist and then also was a full-time graduate student. And her ability to stay home, take care of the kids, that allowed me to do what I needed to do. And it relieved a massive burden of, hey, who’s going to pick up the kids now? All those sort of things. So given that she’s been able to do that, it’s made everything sort of fit. And now, it’s just about growing and getting better and making sure that we don’t — I think I remember the podcast you guys had a while back on lifestyle creep, making sure that that does not happen to us and that we have those same focuses and then also, now it just becomes those things as well as teaching kids.

Tim Ulbrich: So on the topic of teaching kids, you know, while teaching in pharmacy school is nice, I firmly believe — and I think you share this with me — that I think about my kids who are now 7, 6, 4 and newborn, like outside of my newborn, like they’re already starting to establish those behaviors and being aware of conversations, so I think it starts very, very early, and it starts in the home. So what does this look like for your family? And how have you and your wife approached this topic of teaching kids about money?

Brent Rollins: The biggest thing that we’ve focused on telling them and showing them is outside of, say, purchasing a car or a home that are the large, large purchases, if you can’t pay for it, don’t buy it. Like if you can’t stroke a check for it or take some cash out and pay for it, don’t buy it. Stay away from it. And that goes with credit cards and sort of teaching them what credit cards are about that hey, we — and for us, I hate credit card debt in any way, shape or form, so it’s something if it’s on there, I’m mainly using it for the points. I know I’m just going to write a check for it. And we did a lot of that when we built the house. We got a lot of points, that was nice. But you know, it’s one of those things, that’s really the primary thing. And I’ve seen that in my oldest son, who hoards money, any money that he gets, whether that be for birthday, Christmas, whatever, grandparents taking care of him, I think the only thing that they will legitimately want to spend money is if they haven’t got a pack of baseball cards or football cards in awhile, they’ll go, hey, can we go to Target? I’ve got an extra $10. I want two packs, that sort of thing. That’s about it. So we’ve shown me that look, experiencing life and living life is maybe more so way important on the scale than buying things.

Tim Ulbrich: Absolutely. Yeah, and it’s all about a balance, right? I mean, I think that’s one of the things I often think about my own kids. I tend to be on the aggressive saving, squirrel it away type of side of things, and I want my children to understand the importance and value of that, but I also want them to understand that it’s OK to spend money but to plan and for it to be intentional and balanced with other things. But to your final point there, which I think is the most important thing, is that typically, the things that have the most joy and are most rewarding don’t have a dollar sign attached to them. And they are that time that you have with family and friends and creating a lot of those memories. One of the things I wanted to ask you here on this kids topic is I just had on the podcast, it’ll be published soon, the author of a book that just got released, “Mom and Dad, We Need to Talk: How to have essential conversations with your parents about their finances.” Cameron Huddleston wrote that book. And one of the takeaways I had there was often, this issue of being able to talk to your parents about money stems from this being a taboo topic in the home with growing up. So how do you and your wife handle that? Is this something that is just an open topic? Or how do you engage with conversation in terms of money and their spending patterns and other things?

Brent Rollins: It’s very much been an open topic in our house. And we’ve not shied away — now, do we tell them, hey, this is what we have and this is what we’re going — we don’t get into maybe specifics, but certain things we very much, hey, this is what this costs. This is what you would have to do in order to get this level of money to pay for that thing. Is it really worth it? What’s the value? Does it provide such a great benefit that it’s worth that cost? So it’s more of an open conversation than anything else.

Tim Ulbrich: Yeah, and I like that. And I think that’s the point she was trying to make in the book is that yes, there’s times where you can be really intentional and have a specific conversation, but more than anything, it’s just not making it a taboo topic. So if you and your wife are talking about a home purchase or something you’re working on, like letting them hear and be a part of that conversation. The last part I wanted to transition here to is let’s talk about your side hustles because we have done a lot on the show — and credit here to Tim Church who’s done an awesome job of starting this side hustle series and featuring pharmacists’ side hustles — but you really have two unique side hustles, which we’ll talk about here in a minute. But even before we talk about what those are, I want to ask you the question of why do you think a side hustle is valuable? And why do you think that’s something pharmacists should consider?

Brent Rollins: It’s invaluable to me because so often — and we hear this from students who are applying, I see this on the message boards about admissions with pharmacy and where we as pharmacists — a wise man once told me what you have is what you spend, so you might want to do something that you enjoy. And you get into that sort of — not necessarily the melees (?), but a this is what I make, this is is what I do. It becomes monotonous in a way. It becomes, you know, just I have to do this as opposed to I want to do this. And the side hustle allows you to sort of have that passion for something, whatever that something may be. For example, a friend of mine that works — it was a full-time pharmacist across the street from me when I was in graduate school. His side hustle was as a DJ. And he would go DJ like across the country and do that. That was his thing. So he enjoyed pharmacy, but he enjoyed that and had a passion for that as much as anything. And it allows you the balance to step away from, in essence, the grind or that day-to-day so it doesn’t become as monotonous as possible. But we talk to students about that often. I know I do individually. And I’ve had a lot of students who, especially given the fact that our program is — we have sometimes an older student population, we’ve had some who already have side hustles when they come in. I remember interviewing a student who is still successful with it, had an ebay business and was buying and selling things through ebay and doing that. I’ve had other students who do homemade soaps and natural soaps and things like that. So it’s — because it’s fun. It’s a passion, it’s something that you love. And as we’ll talk about mine, I’m a sports superfreak, so that’s why I do what I do.

Tim Ulbrich: Yeah, and I think to the point that you just made there, I think what I’ve seen is in balance, in the right balance, a side hustle often makes you better at your day job because it’s giving you that little bit of a mental break, it’s allowing you to pursue some of the passions or hobbies or other things that you had. And of course, the extra income is nice to be able to put that towards other goals, but I think it’s also the value of being able to pursue something you really are passionate about. So let’s talk about your two side hustles. They’re really unique. One is you serve as an expert witness, and the other is you cover pro sports. You mentioned you’re a sports fanatic, so let’s start there since you just mentioned it. Tell us about what that is and the work that you do related to Pro Football Focus.

Brent Rollins: OK, so the first one there, Pro Football Focus, that is a company, like if anybody who watches professional football and watches Sunday Night Football on NBC, you’ll hear Chris Collinsworth talk about the PSF ranks of players or it will show it on the screen when they introduce the players. So that is a company that I work for, Pro Football Focus. It’s a company that was started initially by a man named Neil Hornsby, who was actually from England, and basically, it looks at every player of every play of every game. And we collect absolute mountains of data and now have — when I first started, so this will be my fifth season working with them — but when I first started, I think we had like 13 or 14 NFL teams as clients and a few college teams. Now we have all 32 NFL teams as clients, and we have over 60 college programs that basically, in essence, use our data and use — it helps coaches, it helps anything and everything you can think of in the realm of preparing for and playing a football game from a data and analytics side. So for me, I get, in essence, paid to watch football and write about it.

Tim Ulbrich: Something you love, I mean, that’s awesome. Hey, without sharing specifics, obviously, is it a contract where you’re utilized hourly or for a season or for content you produce? How do those relationships typically work?

Brent Rollins: The contract part of it I think will actually start this year in terms of the writing part and getting reimbursed or paid for providing content. But the rest of the data collection-wise, it really depends on what you’re doing. Certain things, it’s you just do it, and thus, you get paid for it say on a per-play basis because obviously, some games have more plays than others. But the other part of it, some of it’s accuracy-based. Some it’s hey, how accurate are you? Because if you’re not doing a very good job and not accurate enough, it’s kind of worthless to pay you for it, in a way. So there’s some baseline level, and then you get paid more for being insanely accurate with what you do.

Tim Ulbrich: And what I love about that example, before we talk about the expert witness, is it’s completely unrelated to pharmacy. It’s something you’re passionate about. But you can translate, obviously, into some side income and the rest of your goals. So let’s talk about the expert witness. That’s something we haven’t talked about on the show, and I know we’ve wanted to before, as I think this could be an opportunity for other pharmacists to pursue. Tell us about what that looks like and how you got involved in that.

Brent Rollins: So initially, so my PhD’s in Pharmacy Administration, but my focus is marketing. And it was the area of passion that I wanted — you know, you can do economics, you can do health outcomes, things like that. Marketing was the one that was I loved the most and pursued that passion. And when I was in graduate school, my major professor was involved with a very, very large case that involved the Department of Justice, various state attorney general’s offices, all sorts of other things, and I was asked to help in certain aspects of that work. And through that, it’s just, it grows. And you have that working relationship with that person, you do more and more and more. It gets to the point where hey, my major professor, he’s swamped, and then hey, just talk to Brent initially. And then finally, once you do one, and you have a series of attorneys that say, ‘Hey, we need your opinions on this matter,’ once you do one, once you’re deposed, once you go through that process, now you get more phone calls here and there. So it just has evolved over time, and I’ve done more and more of it. I do primarily two areas of casework: One is in marketing, so those are big pharma cases. I’ve even done like a class action suit that was a marketing thing and some other variety of things that are marketing-based, patent litigation, things like that. And then also standard of care cases, which I don’t like doing as much as the other because I was trained in marketing and I get to use that. But the standard of care cases are interesting because it’s one of those things where we as a profession almost in a way have to police ourselves and just say, ‘Hey, look, there’s a certain standard that we need to have.’ Now, it doesn’t necessarily mean that I am in any way, shape, or form attacking pharmacists. I don’t. I don’t want to. I want everybody — I don’t want to have any of those cases. I don’t want people to mess up. But sometimes, they do. And someone needs to take a look at that and see if there are processes involved. And if any chance I get, it’s like, hey, let me defend the pharmacist here. They did their job, and this is not on them. So it just depends on the case. But I do get calls for those various cases as well.

Tim Ulbrich: That’s great. And I appreciate you sharing those two examples. And as I mentioned, I know the side hustle is something that we’re continuing to just try to feature different options. I mean, there’s unlimited options out there, so obviously the goal is to get people thinking. And I appreciate you taking time to come on the show to talk about personal finance education for students and for sharing a little bit about your career journey as well as the side hustle. So before we jump off, one of the questions I like to ask our guests on the show is, is there a book or a podcast or a resource that either has inspired you or that is currently inspiring you that you would recommend and share with our audience?

Brent Rollins: Well for me, obviously, like I said, sports superfreak, so most of the things that I do listen to or read are sports-related.

Tim Ulbrich: Yeah.

Brent Rollins: But from a personal finance standpoint, I think you’ve touched on it and talked about it before, but the book that really changed how I do what I do and what we do as a family for personal finance was David Bach’s, “The Automatic Millionaire.” And that was the first one that really — because I even started as soon as I graduated from school setting up those things where it came out instantaneously on certain days of the month, money comes out.

Tim Ulbrich: Automation.

Brent Rollins: And everything gets automated, it’s still to that way to this day. And you just don’t worry about it. It’s not something — well me, sadly, I check most all of these accounts daily, unfortunately. It’s an OCD-ness. But it was one that, you know — and I do that with students. We go through the latte factor, I’m going to pick on you that has the Starbucks cup in class today. We do various things in class that show like for example, just messing around with students, hey, this guy, you’re the bachelor guy, right? You’re the one that has the bachelor pad, you’re in Barkhead (?), sort of the ritzier area of Atlanta, and you’re hanging out and this is all — versus this person over here who’s in the ‘burbs, maybe with kids, and let’s look at your financial portfolio. So that was really the book that changed a lot of things for me.

Tim Ulbrich: That’s a great recommendation, “The Automatic Millionaire” by David Bach for those of you that haven’t read it. We also have talked a lot on the podcast about automation. Episode 057, we talk about it in great detail about the power of automating your financial plan, so I’d recommend that to the listeners as well. So Brent, thank you so much for taking time to come on the show. I appreciate your passion for this topic, I appreciate you sharing your journey. And as always, to the YFP community if you liked what you heard on this week’s episode of the Your Financial Pharmacist podcast, please leave us a review and rating in Apple podcasts, iTunes, or wherever you get your podcasts each and every week. Have a great rest of your week.

Brent Rollins: Thanks, appreciate it.

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YFP 103: Wholesaling Real Estate as a P3 Student


Wholesaling Real Estate as a P3 Student

Montrell Taylor, a P3 student at Howard University, joins Tim Ulbrich to talk about his experience in wholesaling real estate. Montrell shares why he chose real estate investing as a side hustle and how he balances being an entrepreneur with pharmacy school.

About Today’s Guest

Montrell Taylor is a third-year doctor of pharmacy candidate at Howard University College of Pharmacy. He currently serves as the Howard Chapter President of APhA-ASP and had the opportunity to serve as a Delegate at the 2018 APhA Regional and National Conference. He also interns at Walgreens Pharmacy and tutors first-year pharmacy students.

Montrell is a native of Memphis, TN and is a middle child. He holds a Bachelor of Science in Biochemistry from Middle Tennessee State University. A true entrepreneur, Montrell is the Co-Founder of Taylor Brother Investments, LLC, where he supports private investors with buying and selling of real estate.

Taylor Brother Investments is committed to providing solutions to any homeowner’s dilemma. Montrell has a passion for making neighborhoods healthy and productive, one home at a time. You can find him on social media or contact him via email.

Summary

Montrell Taylor is a rising P3 student at Howard University. He knew that he wanted to be a pharmacist when he was in high school from to his experiences with community pharmacists and having a pharmacist in his family. He graduated with a degree in Biochemistry and is currently in pharmacy school at Howard University.

After receiving his undergraduate degree, Montrell had some down time and wanted to make more money than he was earning at a temporary job. He and his brother knew that real estate creates the most millionaires each year. Montrell and his brother, Stanford, discovered wholesaling as a way to get into real estate investing with no money and without having to use your own credit. They studied and researched wholesaling and learned from Rico Smith, but didn’t pay anything for classes or training.

After extensive researching, Montrell and Stanford jumped into wholesaling as a way to make money and also find financial freedom. Montrell wanted to find something that brought in an income without having to depend on exchanging his time for it.

Wholesaling assigns a property from a seller to a buyer. The wholesaler makes money by acting as the middle person between the buyer and the seller. First, you have to find a property to wholesale. Montrell and Stanford drive around to find vacant homes, cold call and also post bandit signs encouraging people to call them if they are looking to sell their home. Once a home is found, it goes under contract as the seller assigns the property to the wholesaler. The wholesaler doesn’t put any money down, however the contract says that the wholesaler has equitable interest in the property. From there, the wholesaler connects with an investor or buyer for the home and transfers the contract to the buyer. When a deal closes, Montrell is paid an assignment fee which is the difference from what he got the contract for to what the buyer paid.

Montrell and Stanford have been in wholesaling for two years and closed 10 to 15 deals in 2018. This year, they have already closed 8 deals and are hoping that it’s a more successful year than last year. Montrell shares that you don’t make money right away from wholesaling. You have to learn a specific skill set to make money and have the right mindset to close deals.

Although Montrell is in pharmacy school, he’s able to balance his busy schedule. He says that we have more time than we think we do and stays focused by blocking out distractions, creating and sticking to a stick schedule and uses weekends to catch up on studying.

Mentioned on the Show

Episode Transcript

Tim Ulbrich: Hey, what’s up, everybody? Welcome to this week’s episode of the Your Financial Pharmacist podcast. As I’ve shared with this community before, we have lots of exciting goals and aspirations around real estate education and content for the YFP community here in 2019 and beyond. I’ve shared that Jess and I have a goal of buying our first rental property in 2019, and I’ve got the vibe that many pharmacists out there in the YFP community have similar aspirations or at least have a desire to learn more about real estate. Therefore, we want to bring you some more examples of pharmacists active in real estate investing that can help teach, encourage and motivate us, the YFP community, to learn more. On episodes 009 and 109, Carrie Carlton shares her journey of getting started with real estate and building out her portfolio, which has diversified her assets and provided her with an alternative income stream. That’s why I’m excited about this week’s episode and the chance to interview rising P3 student Montrell Taylor to talk about his journey in real estate investing through wholesaling. So for our listeners, for some quick background, I had the chance to meet Montrell out at the APhA annual meeting in Seattle, Washington, back in March 2019 through a mutual connection, Alex Barker. Many of you know Alex. He’s the creator of the Happy PharmD, a frequent guest on this show and author of the book “Indispensable.” After having a chance to talk with Montrell, I was blown away at his maturity, his professional demeanor, his entrepreneurial mindset, and his ability to understand the importance of diversifying your investments. You know that feeling when you meet someone, and you think, wow, they have the “it” factor: that drive, that mindset that will result in them doing great things? Montrell has that “it” factor, and I’m pumped to be able to share his journey with you, the YFP community. So Montrell, welcome to the show.

Montrell Taylor: Thank you for having me. Glad to be here, glad to be here.

Tim Ulbrich: Excited for this. I genuinely meant what I said. You know, I think I even shared with my wife that evening, like when you have those interactions where you meet somebody, and you can just tell they have the fire within them, you have that factor. And your future is bright. So I’m excited to be here in person, in Baltimore, at YFP headquarters to do this interview. So one of the questions I don’t think I asked you when we met is how did you get connected with Alex Barker? What was that backstory?

Montrell Taylor: So with Alex Barker, I actually seen him on Instagram one day. And I was just kind of interested because I seen him actually on an ad. And a couple days later, I seen him again on LinkedIn. So me and him actually connected through LinkedIn, and we set up a phone call because I noticed that he also was an entrepreneur. So we just got to talking, and I mean, our conversation was just real easygoing. We both talked about how we both wanted to make sure we were able to succeed in our businesses. And he was just able to give me like a lot of great information about just being an entrepreneur. So I think just both of our mindsets kind of clicked once we had that first conversation. And then we were thinking, we should have some sort of meetup to talk to more investors at the APhA conference. So last year, I went to the first — I went to my first APhA conference.

Tim Ulbrich: That was Nashville, right?

Montrell Taylor: Nashville, correct. And my mind was just blown. I just seen so many opportunities and got the chance to network with so many different people. And I just knew that the next year, which was this year, I was excited to go back. And then when I seen that Alex was also going to the conference, me and him just connected like, you know what, let’s try to set up a meetup at the conference. So we did that, and that was actually the first time we ever met in person. So the same time I met him and you was literally the first we’ve ever met.

Tim Ulbrich: It’s all about networking, right?

Montrell Taylor: All about networking. It’s important because I always hear so much: Your network is your net worth. And I think pharmacy school has shown me how important that is because I’ve got a chance to meet so many people, just off of networking, you know? And people get so kind of scared about the idea of networking because it’s kind of like you’re trying to pick somebody’s brain to benefit from it in some way. But the only thing you’re doing is just building relationships. And that’s what business is all about.

Tim Ulbrich: I love it. So before we talk about your experiences with real estate and more specifically, with wholesaling, I want to talk about your journey into pharmacy and get a little bit more for about where your career as a pharmacist is going as you get ready to go into your P3 year. Obviously, I’m sure you have many questions still to answer about that. So why pharmacy? And why Howard? Talk us through that journey.

Montrell Taylor: OK, so why pharmacy? I’ve had that question a lot. Pharmacy is something that I wanted to do ever since I was in high school. Every time I seen a pharmacist, I just would have this perception of them of like they’re just smart, they’re personable, I can talk to them about my issues and things like that. So as I progressed through school and I started to learn about how the body works and I took chemistry and biology and stuff like that, I was amazed at the fact that how these small molecules and compounds, how they can change the composition of the body. So when I learned about that, it was interesting to me. And after I got my degree in biochemistry, that’s when I really had a great understanding of how the body works. But I wanted to increase my knowledge and just learn about why do people get sick? And how do these small pills create a small — like how do they create a difference in people’s daily functions and stuff like that? So that’s what really made me want to be a pharmacist. And I also have a family member who is a pharmacist. And then when I seen her progress through school and I just see the lifestyle that she’s living, it motivated me to be a pharmacist. And the reason I chose Howard was because first, I wanted to get out of Tennessee because even though I enjoyed growing up there, I kind of wanted to experience something new. So one day, I was just applying to different schools; I applied to a school in Georgia, and I applied to Howard. I only applied to two schools. So once I came to Howard for my interview, I was just amazed at talking to people, and they told me about how great the environment is and how great the learning experience was. I fell in love with the campus. And it was just funny because when I actually got accepted to Howard, I actually called my mom, and me and her just — we broke down and just started crying on the phone because I was just so excited to actually get a chance to explore Howard because I just heard so much about the school. And then the fact that I was able to actually — I’m able to actually be a student at one of the best schools in the nation is just, is great.

Tim Ulbrich: So shoutout to Howard.

Montrell Taylor: HU.

Tim Ulbrich: We had another guest from Howard before, but it’s awesome. And hopefully we’ll have some opportunities to work with Howard as well in the future. So biochemistry major.

Montrell Taylor: Biochemistry major.

Tim Ulbrich: Now you’re in pharmacy. And now we’re going to add on to that real estate. So help me make this connection of why side hustle with real estate? I mean, those things don’t often go together, right? What was the connection there.

Montrell Taylor: They don’t. So real estate makes the most millionaires each year. So after I graduated, which was in 2016, me and my brother, Stanford Taylor, are like — none of this would have been possible without my brother.

Tim Ulbrich: Where is he located?

Montrell Taylor: He is currently in Memphis, Tennessee. And he primarily works on our Memphis market.

Tim Ulbrich: OK.

Montrell Taylor: And once me and him graduated from college, we worked a job, and we had so much free time because I was waiting to interview for Howard and all these different schools, so I had a break. And we actually worked at a call center. And it was fine. We made decent money, but we wanted something more, right? So it was just something clicked in our heads one day, and we actually watched this video from a guy named Rico Smith. This is a guy who’s pretty famous in Memphis from wholesaling.

Tim Ulbrich: OK.

Montrell Taylor: And after watching his video, he just talked about how you have to have a certain mindset if you want to live the life you actually want to live. And we watched the video, and he is also the one who spoke about wholesaling. And then when we learned that this is a way that you can get involved in real estate without using any money or credit, then we really had no excuse not to at least try. So I just remember one day, me and my brother were just talking about getting started, and we were talking about like making a name for our company and stuff like that. And we both just agreed that if we wanted to be serious about actually starting in real estate, we had to just go ahead and just do it. So we just did it, and it’s took off ever since.

Tim Ulbrich: I love that story because I think what stand out to me there is that out of 100 people that may listen to a video like that or read a book on real estate or whatever, maybe one is actually active. Right? It’s the mindset, it’s being willing to take a little bit of calculated risk.

Montrell Taylor: Right. And then it’s just so funny because us as we as humans, like we put limits on ourselves subconsciously. Like let’s say, for example, if you wanted to start a business. Nobody’s going to tell you, you specifically can’t start a business. The only thing that’s stopping you is you.

Tim Ulbrich: That’s right. Amen.

Montrell Taylor: That’s the only thing! And I think that one time, when I listened to you guys’ podcast, you guys made a great point when you said, you have to get out of the way of you. Like that makes so much sense because we get so caught up in what make it wrong and we don’t have the money or the time. We limit ourselves to so much that we can do. And it’s just crazy when we just have a completely different mindset, we can do — I feel like we all can do just great things.

Tim Ulbrich: That’s great stuff. A lot of wisdom there. So what was the goal? When you jumped into wholesaling, you know, here you are, getting ready to apply for pharmacy school, obviously, some cash, of course, is the goal. But were you at the time thinking, hey, this could really lower my indebtedness? Or this could diversify my assets. I mean, what was the goal of jumping into real estate at that point in time?

Montrell Taylor: The goal was having freedom. Freedom and, of course, money because, you know, it’s great to have a job. It’s great to have a nice-paying job. That’s great. But the fact that you have to exchange time for money, that was the idea that I didn’t want to have to completely depend on. So it really was the freedom because we wanted to have a business where we could first of all, we could control it because we are the owners. So since we have the, you know, like the power to do whatever we please as far as our own business, we really wanted to have freedom and money.

Tim Ulbrich: OK.

Montrell Taylor: Because money isn’t everything. But you know, to do the things you want to do, it takes money because the country that we live in has very heavily relied on economics and cash flow. So the fact that wholesaling gives us the opportunity to have freedom and make money, it was the perfect combination.

Tim Ulbrich: Yeah, and I think so many people say you’re not going to get happiness from money, right? And I think that that’s true. But I think where you can derive happiness is from the freedom and the choices. And we talk all the time on the show about having options, right? So whether that be you want to start your own business, maybe you want to stay home with the kids, you have a sick family member you want to care about, you want to really pursue some philanthropic efforts that are important. Doing those things and having the ability to do those stress-free are some of the things that provide happiness.

Montrell Taylor: Right. And then, I mean, it’s also jobs out there where you can actually have freedom and make money. So I’m not talking bad about any type of job, but I just know me and my brother personally, we wanted to have something for our own. Because my father, he also owns a business. He owns a cell phone store. Excuse me. So just being able to see him, like he could always when he wanted to, let’s say take off for one of my brother’s football games, he just doesn’t go to work. You know? So just small things like that and just being able to, you know, have that freedom.

Tim Ulbrich: So before I ask you and we get in the weeds on wholesaling, I have to know, like you and your brother must get along then, right? I mean, how does that work between the two of you?

Montrell Taylor: My brother is literally the exact same person as me. Like we act the same. Like my best friend, my road dog (?), everything. I also have a sister as well, and we’re the exact same. My sister is younger than us, and we wanted to build this business so we could take care of the entire family because my sister is, she’s the smartest one out of all three of us. She’s the smartest one, but I just know that me and my brother, we wanted to do the groundwork so that we can, so that we don’t have to call on our sister to do work for us.

Tim Ulbrich: Yeah, sure.

Montrell Taylor: So I mean, we act the exact same. We get along a lot. I mean, we’ve had a couple of arguments, but when me and him argue, it’s just funny because I don’t know if you’ve had this case, but sometimes, when you’re giving someone constructive feedback, specifically to another male, they kind of take it offensive, right? So when me and him are talking about different things as far as business goes, the fact that we’re brothers, it’s like, we can argue all day. But at the end of the day, we’re still going to be brothers. Like you’re not going to get rid of me. We’re going to be here forever. And actually, growing up, we used to get in trouble if we fought each other, right? So we just always had this strong bond, and we just always had the mindset that whatever happens, we’ll have each others’ backs.

Tim Ulbrich: Yeah, and I think iron sharpens iron, right?

Montrell Taylor: Right.

Tim Ulbrich: So I think when you get to that point where you’re comfortable with that feedback of each other, ultimately, the business is going to get better.

Montrell Taylor: Right, because it’s been so many times where I’ve got a great idea from him, and he has done the same for me. For example, I was just talking to him three days ago. And he was telling me how sometimes, he does Uber Eats. And once I get into wholesaling, something people do to find sellers is post bandit (?) signs. And these are like the signs you see around the neighborhood, like “We Buy Houses,” and stuff like that, right?

Tim Ulbrich: Yeah, yeah.

Montrell Taylor: So something that he said that just made so much sense to me, he was like, “Man, you can do Uber Eats for two reasons that will benefit. Well, really three reasons. First of all, you make money. Secondly, you find new places about the city,” because I’m not from here. I’m from Memphis.

Tim Ulbrich: Yeah, so you’re learning, right?

Montrell Taylor: I’m still learning, right. So I’m still learning the area and things like that. And then third and most importantly, and since we’re driving, like dropping off orders and stuff like that, it also gives you the opportunity to put out bandit (?) signs, right? So it’s like you’re making money by driving —

Tim Ulbrich: Double dipping.

Montrell Taylor: You’re double dipping!

Tim Ulbrich: Yeah, it’s awesome.

Montrell Taylor: And you also are improving your own business because you’re attracting sellers by putting out these signs. So we always just feed off each other with great ideas.

Tim Ulbrich: One of the things I want to go back to real quick, you know, if Tim Baker were here, he would be preaching, “Find your why. Know your why. Have clarity around why you’re doing what you’re doing.” And I love what you said about first, financial freedom, but then also the mission around caring for family. I mean, it sounds like so much of that fuels what you’re doing. So I think this is just another great example for our listeners, as you’re looking a side hustle, whether it’s pharmacy-related or not, like what’s the point? What’s the goal? What are you trying to achieve? Because ultimately, that’s going to fuel you. And we’ll talk here in a little bit how you balance this with other things. But you know, it’s not like you have all the time in the world. So there’s sacrifice. But you have a why behind it that’s driving you —

Montrell Taylor: I do, I do.

Tim Ulbrich: Through that period. So that’s really cool.

Montrell Taylor: I do.

Tim Ulbrich: So talk to us about what is wholesaling? What does that term mean? And maybe give an example of something that you’ve done that will help our listeners understand that.

Montrell Taylor: OK, so wholesaling is a way to essentially make money in real estate without using any of your money or using any of your credit. So wholesaling is essentially, you are assigning a property from a seller to a buyer. So you play the middleman role.

Tim Ulbrich: Yeah.

Montrell Taylor: So let me kind of break it down a little bit more. So the first part of wholesaling is finding a property. And there is a number of ways to find properties. You can actually drive around the city. And if you are to see a property that looks vacant, you could try to get in contact with the owner and just see if they’re looking to sell it. Like I said, you can also post bandit signs. Bandit signs will be the most effective way to find sellers because people will contact you if they’re looking to sell. So that kind of saves you from having to go out and find sellers.

Tim Ulbrich: So people actually call those numbers on the corner.

Montrell Taylor: Right.

Tim Ulbrich: I see those all the time.

Montrell Taylor: Right. Like people see them and it’s kind of like, who’s going to call them? But a lot of people call those numbers on the bandit signs.

Tim Ulbrich: So in those two examples, you’re trying to identify properties that are not yet on market?

Montrell Taylor: Correct.

Tim Ulbrich: OK.

Montrell Taylor: Because we want off-market properties at a discounted price because let’s say if you were trying to buy a house, fix it, and put it back on the market, if the house is already at a market price, then you don’t have much room to buy it and put more money into it to fix it and put it back on the market, right?

Tim Ulbrich: Right.

Montrell Taylor: So the key is getting properties at a discounted price that is way below the market value. So after you get a property that — after you find a property, the next step is to, like I said, get in contact with the seller. So after you talk to a seller, you’re going to get this property under contract.

Tim Ulbrich: OK.

Montrell Taylor: Which is an assignment contract, which means that the seller is essentially assigning the property to you. So let’s say if I’m the wholesaler in this sense, and let’s say you’re trying to sell your home, you call me from a bandit sign. You say, ‘Hey, Montrell, I have a home in Baltimore, and I’m looking to get about $40,000 for it.’ What I’ll say is, ‘I don’t know if I can get you $40,000, but I can take a look at it and I can see, you know, if we can get close to that number.’

Tim Ulbrich: OK.

Montrell Taylor: So I meet you in person, I see the home, and I say, ‘Well, Tim, I can get you about $32,000.’ And you say, ‘OK, fine. Great.’ So what I’m going to do is I’m going to get this property under contract with you for $32,000 because that’s all you want in order to be satisfied.

Tim Ulbrich: You’re not having to put any money down or anything at this point, right?

Montrell Taylor: No money down. But what this contract says is I have equitable interest in this property. So now I have the property under contract with you for $32,000. Now let’s say I go to Tim Baker. I know that he buys homes, right?

Tim Ulbrich: Yes. He likes to pay a lot for them. Margin’s going to be good here.

Montrell Taylor: OK, great. That would be great. So I will go to Tim Baker and say, ‘I have this property in Baltimore that you can buy it, you can fix it up, you can either put it back on the market, you can rent it out,’ but the main thing that Tim Baker wants to see is the ARV.

Tim Ulbrich: Right. So explain that for our listeners, the ARV.

Montrell Taylor: ARV is known as the After-Repair Value. What this is is after you buy the property and put it into basically brand new condition, like HGTV type condition, how much will this property sell for after the work is put into it?

Tim Ulbrich: Right.

Montrell Taylor: So what most investors do when they are looking to purchase properties, there’s an equation that they use, which is called the 70% rule. And I’ll talk about that in a minute. So I go to Tim Baker, and I say, ‘I have this property for let’s say $40,000.’ You only want $32,000. Tim Baker says, ‘Well, I can give you $38,000.’ And I say, ‘Fine.’ Once we go to closing, you’re going to be there, I’m going to be there, Tim Baker’s going to be there, I’m going to assign this property from myself to Tim Baker.

Tim Ulbrich: So transfer, essentially, the property.

Montrell Taylor: Transfer it. And what I’m doing is I’m assigning the property to Tim Baker. So once we go to closing, I get paid an assignment fee. And that’s essentially a wholesale deal.

Tim Ulbrich: And then that fee would basically be you got it for $32,000, you sold it for $38,000, that $6,000 goes to you as the wholesaler.

Montrell Taylor: Correct. And I didn’t mention me putting down any money.

Tim Ulbrich: Sure.

Montrell Taylor: I didn’t mention running a credit check or nothing like that. The only thing it is, it’s a skill set that has to be used in order to make money because like I said, you don’t need money to get started in real estate. You just have to motivation and really, just a work ethic.

Tim Ulbrich: Yeah. So I’m a huge fan of the Bigger Pockets podcast, and one of the things they always talk about in that show is the most difficult part of the equation is finding deals, finding deals, finding deals. So you as a wholesaler where you’re not putting money down, you’re basically taking that effort of finding the deal out of the equation.

Montrell Taylor: Right.

Tim Ulbrich: So that is me, as an investor, who hey, I don’t have the time, Montrell, I can’t get clear, I don’t have the scale, I can’t put out bandit signs, like I’m willing to pay that wholesaling fee because I as the investor, I still am running my numbers myself. So if I have to pay a wholesaler $4,000 but the numbers still work and I don’t have to find the deal, so be it.

Montrell Taylor: Right. Right, because your whole thing is OK, I’m going to pay this person $6,000. And I’m going to buy this property for — what did I say, $38,000?

Tim Ulbrich: Yep.

Montrell Taylor: $38,000. I can put maybe $10,000 into it, and I can either put it back on the market for about $56,000-60,000 —

Tim Ulbrich: Which would be the ARV.

Montrell Taylor: ARV, right. So my profit as an investor is like, what? $20,000, something like that? So I mean, as an investor, they love wholesalers because what we’re doing is we’re doing the dirty work for them, but they still get the setback (?), buy these properties, fix them up, they continue to make money. So everybody wins.

Tim Ulbrich: And I’m so glad we’re starting here with this example of what you’re doing because I think for many pharmacists, there’s obviously different ways of going. There’s flipping, which we can talk about here for a minute. There’s buy-and-hold. But the main difference here with wholesaling being one mechanism involved in real estate investing is that time and effort and some sweat equity to get into this process is going to be more important. Obviously, if we have listeners out there saying, ‘Hey, I’d love to do real estate investing. I’ve got $100,000 in cash, and I don’t have a lot of time,’ wholesaling may not be the best move for them.

Montrell Taylor: Exactly.

Tim Ulbrich: But for many pharmacists out there, they’re like, ‘Hey, I’d love to diversify my revenue stream. I’m willing to put in the time and effort,’ maybe wholesaling is something to start with.

Montrell Taylor: Right, because the goal of wholesaling is to — in addition to make money, you’re also learning the housing market. And you’re learning how to become an investor because the fact that you’re working with so many different investors, you’re kind of seeing what the process if you wanted to buy and fix a house and flip it or if you wanted to buy it, put a tenant inside of it, if you wanted to buy it and Section 8, whatever it may be. Because the goal of wholesaling is to be able to eventually buy the properties yourself and, you know, fix and flip or fix and hold. That’s the primary goal of most wholesalers.

Tim Ulbrich: Which you’ll be able to do as you accrue enough cash through wholesaling deals, you could then get involved in properties that need more of your cash up front and other things.

Montrell Taylor: Right, so right now, we actually have two properties in Memphis that we have bought and we’re currently fixing. And we’re putting a tenant inside of them within the next month.

Tim Ulbrich: So more turnkey in that?

Montrell Taylor: Turnkey in a sense, but we have to put a little bit of work in it because turnkeys are properties that don’t need any work.

Tim Ulbrich: OK.

Montrell Taylor: Like they are ready to — someone can live in it today. But we had to put in floors and we had to knock down some walls. And that’s in Memphis. But in D.C., it’s a little different. And D.C., Maryland, Virginia, it’s a little different because the properties are ten times more expensive.

Tim Ulbrich: Correct. So you moved to the most expensive market, right?

Montrell Taylor: Right, right. And then it’s just — in D.C., it’s just so funny because the properties are much smaller for ten times the price. So it’s a little bit more tricky when you’re looking to buy and hold properties in D.C. versus buying and holding in Memphis. But.

Tim Ulbrich: So are you typically — you know, one of the things I’ve learned about wholesaling on Bigger Pockets and reading books, it sounds like often, wholesaling is selling to a flipper, although not always. But I’ve always wondered like, why doesn’t the flipper just build out a subteam that is out doing the work of finding deals and stuff? I mean, why is the wholesaling piece necessary in that process? Is it just something they want to focus on the flip and not focus on the deals?

Montrell Taylor: From the investor’s standpoint?

Tim Ulbrich: Yeah, from the investor’s standpoint.

Montrell Taylor: I mean, you really don’t get a lot of cases where investors can build a team of wholesalers because investors can also work with the realtors. You know, like people who actually have licenses. Because some people kind of look at wholesaling like well, this guy doesn’t have a license, so why should I trust him to sell my home? And stuff like that. So wholesaling is a little bit more risky than being a real estate agent. But the fact that you’re independent, that gives you more freedom. And I mean, there could be an investor who builds a team of wholesalers. That’s actually an option. But I haven’t met an investor who does this. Because there’s so many people who wholesale now, it’s like, why would I start a team when I could just go, just contact a wholesaler now and just buy properties whole? Investors don’t have much time. I think that’s the biggest reason why they don’t build teams of wholesalers because they are either buying this property and trying to fix this other property and stuff like that.

Tim Ulbrich: So are you predominantly in the Memphis market then? Or are you in other areas as well?

Montrell Taylor: Predominantly right now, I am in the Baltimore, PG County (?), and Maryland market, Virginia — me personally. Now, my brother, he is the one who is securing the Nashville and Memphis markets right now. So I mean, we work on deals in Memphis all the time. And back when I was in Memphis, like last summer, I was closing a lot of deals. So it just depends where I am at the time, until I’m able to start my own thing and get people to go out and look at properties for me and kind of like, you know, do the dirty work for me. That’s something that I’m in the process of doing now, but it just — it takes time. It takes time.

Tim Ulbrich: Yeah. And obviously, once you get the process done yourself, you can begin to think about how to scale it and build out the system. I think we need you to come to Columbus, so there’s some good opportunities there.

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Montrell Taylor: I actually haven’t got a chance to check out the market in Columbus.

Tim Ulbrich: It’s pretty hot right now, actually. I just was reading an article the other day in the Columbus Dispatch, I think it was in the month of March, Columbus was the hottest real estate market in the country.

Montrell Taylor: Really?
Tim Ulbrich: Which is crazy — I mean, it’s a great city. Don’t get me wrong, I love it. But just geography and weather and other things, you wouldn’t necessarily think that. But it is a great city.

Montrell Taylor: How far is it from here?

Tim Ulbrich: 6 hours-ish from Baltimore. So yeah.

Montrell Taylor: That’s not too bad.

Tim Ulbrich: SO talk to me for a minute, you know, how long you’ve been doing this — I think you mentioned earlier about a couple years — how many deals have you actually worked through during this time?

Montrell Taylor: So I’ve been doing this for, like I said, about two years. And as far as how many deals I’ve done, well, I know last year, we’ve done about 10-15.

Tim Ulbrich: OK.

Montrell Taylor: And that was in a total year. So that’s about like — because it takes about 3-4 weeks to close a deal.

Tim Ulbrich: OK.

Montrell Taylor: And that’s if everything goes right with the paperwork and stuff like that. But this year alone, we’ve closed about eight, about eight so far. So this year has been going way better than last year. And we just hope to continue to build our business and build our brand. Right. Because the summertime is when we see the most action. I don’t know if that’s when people are ready to move and stuff like that, but I know for me, personally, that gives me more time because I’m not in classes.

Tim Ulbrich: Sure.

Montrell Taylor: So I’m able to go out and see these properties and talk to sellers and actually put my feet on the ground to get out and close more deals. So it’s going to be a great summer.

Tim Ulbrich: So what would you say to the person that says, ‘Hey, Montrell, it’s 2019, the market’s red-hot, and it’s impossible to find good deals out there.’ Like what’s the response to that?

Montrell Taylor: I would say, people are buying and selling houses every day. Literally every day. So it kind of goes back to the way we limit ourselves. That just sounds like another limit that someone tries to put on themselves because people are wholesaling literally every day. Like I’m in Facebook groups and I follow people on Instagram, you just see so many people post checks that they make in wholesaling like literally every day, $20,000, $30,000, $50,000 checks off one deal. Right? So I would just say, you have to go ahead and get started. Because you can only do so much research, and you can only be so skeptical about doing something. But the most important step is to just get started.

Tim Ulbrich: So to that point, let’s get practical for there a moment. I think a lot of listeners are saying, ‘This is great. Montrell, he’s a rising P3. He’s after this. And I, as a listener, would like to do something similar or get involved in real estate.’ And I appreciate your recommendation of just starting. Is there something you would recommend, a podcast, a book, you know, what would be a next step that somebody could take?

Montrell Taylor: OK. I would recommend one guy that is very popular. Like I said, the guy who motivated me to start, a guy named Rico Smith. He is a very knowledgeable guy. Also, there’s a guy named Max Maxwell, who is very popular, and he teaches people how to wholesale all the time. But the most important step is to do research. Like I wouldn’t say just jump into wholesaling blindly because you do, like we did have to do our fair share of podcasts and YouTube videos and reading books and stuff like that. So I would say Max Maxwell, Rico Smith, there’s also a guy named Tony the Closer. There’s so many — like we have an advantage right now because technology — and we just talked about like technology is taking over. You can learn how to do anything online. You can learn a brand new language online. So wholesaling is something that you can learn by just doing your research, but most importantly, you have to get started. You have to get out there. It’s going to feel uncomfortable, you’re going to have people who — people are going to talk bad to you and you may get cursed out sometimes.

Tim Ulbrich: It’s a process, right?

Montrell Taylor: It’s a process. It’s a process. Like nothing happens overnight, but you just got to get started. You’ve got to be willing to take that chance because you have to keep your mind set on the bigger picture. Like think about what can happen — like don’t even think about what can happen if it goes wrong. Only put your mind on, OK, what if as soon as I call this person, it’s going to be a deal. I’m going to close a deal, I’m going to make this amount of money. Just always keep your mind set on the positive because the more you think about the negative, you’re going to just continue to limit yourself because we all have 24 hours in a day, right? So we all can do whatever we put our minds to. And then I feel like growing up, we always heard the statement that you can do whatever you put your mind to, like we always hear that. And it’s kind of like, eh, who are you to tell me that, right? But I wanted to be a pharmacist in high school. And in two years, I’m going to be a pharmacist. And that’s just a small example of I put my mind to being a pharmacist, and that’s what I’m going to do. Maybe I should have put my mindset on being a billionaire, I could have been a billionaire by now.

Tim Ulbrich: It’s in the works. In the works.

Montrell Taylor: Could have been a billionaire by now. But that just shows an example of literally, it’s all about your mindset.

Tim Ulbrich: I hope our listeners will go back and listen to that last two minutes because it is mindset, without question.

Montrell Taylor: Right.

Tim Ulbrich: And you are a great example of that. And I think that’s such a great message. And one of the things you said, which I really like, is that in 2019, we are in the age of you can learn anything that you want to learn.

Montrell Taylor: Anything.

Tim Ulbrich: Anything. We have it better than any generation that has come before us.

Montrell Taylor: It’s just like, we have to really think about how technology has advanced. Like think about what, like 10 years ago, where you had to basically — the Internet was connected to your phone. Right? It’s like now, we have Internet everywhere. And we don’t even think about how advanced technology has became, but like literally, you can do anything on the Internet. And there’s also classes you can take, and of course, they cost money, but from my personal experience, I’ve been able to succeed in wholesaling, and I haven’t paid for any class. I’ve just done my own research, I’ve YouTubed —

Tim Ulbrich: Podcast, books.

Montrell Taylor: Podcast, books.

Tim Ulbrich: Yeah.

Montrell Taylor: Bigger Pockets. And I had to get out there in the field and just — you’ve got to learn from failures. Some people are so scared of failing, they’re just like, OK, what if this goes right? What if you succeeded? Right? So it’s going back to just think about the good thing that can happen from this.

Tim Ulbrich: Yeah, one of my — without going too far on a tangent here — one of my greatest fear with my three boys is that they won’t learn how to fail. Because I think that as a parent, you just have a natural tendency to want to protect that. But there is such positive that can come from learning how to fail.

Montrell Taylor: I’ve learned so much.

Tim Ulbrich: And learning from that, and moving on, right?

Montrell Taylor: It’s just funny because I’ve learned so much from failing.

Tim Ulbrich: Absolutely.

Montrell Taylor: Because when I first started, it took us a long time before we started actually making money. We didn’t just hop into the game and start closing deals left and right, left and right. We failed a lot of times. There was times where I personally almost had to go to court for a lady because you know how sometimes, people are not as honest as you want them to be in business.

Tim Ulbrich: Sure. Yeah.

Montrell Taylor: So once you actually start, you have to learn that even though you may not get any type of compensation from this deal, you still have to learn. And failing is the best teacher.

Tim Ulbrich: And if the path was so clear that there were never any problems, everybody would be doing it.

Montrell Taylor: Everybody would be doing it.

Tim Ulbrich: So I see, I envision maybe at some point, we’ll get Montrell’s Pharmacist’s Guide to Wholesaling. We can work on that in the future. But let me wrap up here by asking you, you know, I’m sure the students are wondering — if not others — like how do you balance this with the demands of pharmacy school? You know, you’re on rotations, you’re in coursework, you’re working on this you mentioned a little bit in the summers, but you also have a pharmacy internship as well. Like how are you practically balancing and managing these? And you did allude to, hey, everybody has 24 hours.

Montrell Taylor: Everybody.

Tim Ulbrich: But what works for you?

Montrell Taylor: What works for me is, I mean, so during school, it does get really tough. So what I do is I try to block out all of the distractions. Because we have more time than we think about. And that’s kind of weird that I say that because if you think about the time that you spend, let’s say you’re scrolling on Instagram for 10 minutes, let’s say you do that five times.

Tim Ulbrich: And then feeling like crap about yourself.

Montrell Taylor: Right. And that’s an hour, right? So the thing that kind of helps me balance out is just staying focused. So let’s say if I have to study for an exam, I’m going to go ahead and put in two hours to study, and I’m going to put in at least an hour of cold calling. Cold calling, which is calling numbers to ask sellers if they want to sell a home.

Tim Ulbrich: All the while, you’re learning how to deal with rejection.

Montrell Taylor: Exactly.

Tim Ulbrich: Right?

Montrell Taylor: Right, right. Yes. So like you never stop learning. Like I love to learn, like you’re always learning. So the key to being able to balance out all these different things is just staying focused and just make a schedule, stick to it, and just stay focused on what you have to do. Like don’t start studying and then go hop on Instagram for 30 minutes because you just wasted 30 minutes. Now you’re 30 minutes behind, which in turn, puts you more behind on things that you have to get done. So I just create a strict schedule, and I stick to it. And you have to also use your weekends to like catch up on things, like it has been times where I have been kind of behind in the class as far as studying. So I’ve had to pull all-nighters, right? So I mean, sometimes, you just have to make those sacrifices. Because if you want to actually live the life that you dream of living, you have to sacrifice for it.

Tim Ulbrich: Amen. And I’ll say this quietly — I guess semi-quietly, since we’re publishing this out to thousands of people — but I am an academic, so I’ll say it somewhat quietly. But what you’re learning while you’re cold-calling people in terms of not only rejection but also how to effectively sell and promote and communication skills, I mean, that far outweighs anything I’ll say you’re likely learning — you know, certainly you have to pass your courses, you have to move on, absolutely. I’m not saying you should not be doing that. But those skills that you’re going to take away from that and how tangible those are and the benefit they’re going to have for whatever path your career takes are so invaluable.

Montrell Taylor: Right. Right. And then when you’re cold-calling and people are actually giving you their rejection, it kind of teaches you how to just go with rejection in life. Because let’s say if you may apply for an internship, and you don’t get it, that’s a rejection. But you’ve just got to learn that life keeps going. And you have to just learn from, like I said, from your failures and just learn about — just look at your process and learn, and look at what didn’t go right and just learn from that and just build upon it. But I think the most important thing is to just never give up and never stop. Because if you stop, then you can’t make any sort of progress. But as long as you’re trying, it’s like, OK, this may work. Because you know they say you miss 100% of the shots you don’t take.

Tim Ulbrich: Yeah, that’s right.

Montrell Taylor: Right. So just staying consistent and staying focused.

Tim Ulbrich: Yeah, and it’s the compound effect of not any one of those may feel really significant in the moment, but it’s the micro-changes and the things that are compounding over time that really have such a lifelong impact. So let me wrap up — this has been fantastic, and I thank you for your time.

Montrell Taylor: Thank you.
Tim Ulbrich: But I want to wrap up by — I have a quote from Jim Rohn that is, “Success is not to be pursued. It’s to be attracted by the person we become.” And that stuck out to me when I thought of who you are in the short time I’ve gotten to know you.

Montrell Taylor: That’s deep.

Tim Ulbrich: And I think that just the energy you’ve given me and I think you’re going to give to our listeners speaks to who you are and I think the career you have ahead of you. So thank you for your time —

Montrell Taylor: I appreciate that.

Tim Ulbrich: For navigating traffic.

Montrell Taylor: Thank you for having me. I just think it’s so amazing how last year, I was just reading your book, “Seven Figure Pharmacist.” And now, a whole year later, I’m sitting here talking to you on your podcast, right? So it’s just — you never just know what God has planned for you. And I just want to thank you for giving me the chance to come on here and just give my story and just talk to people. I just want to make sure that people know that you can do anything if you just set your mind to it. And just stay focused, and stay consistent.

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YFP 102: An Interview with Dr. Suzanne Soliman: Founder of the Pharmacist Moms Group


An Interview with Dr. Suzanne Soliman: Founder of the Pharmacist Moms Group

Dr. Suzanne Soliman, Founder of Pharmacist Moms Group, joins Tim Ulbrich to dive deep into her motivativation for launching the group, resources the group offers, where this movement is heading and how she carves out time for her business.

About Today’s Guest

Dr. Suzanne Soliman earned her PharmD from the University of Illinois at Chicago in 2004. She then completed a residency in primary care with an emphasis on education at Midwestern University Chicago College of Pharmacy and a teaching fellowship at the University of Illinois at Chicago College of Medicine. Suzy worked as a clinical pharmacist, a medical science liaison and national field team educator prior to becoming an Assistant Dean of Academic Affairs at the University of Illinois at Chicago College of Pharmacy. She most recently was an Associate Dean at Touro College of Pharmacy New York and an independent pharmacy owner.

Suzy has 75 publications and has presented at numerous national meetings. She is a Rufus A. Lyman award recipient which is granted for the best manuscript published in the American Journal of Pharmacy Education. Suzy has served as a medical expert on a number of pharmacy issues and has been a reviewer for Annals of Pharmacotherapy and Currents in Pharmacy Teaching and Learning. She has been quoted in “Crain”, “Chicago Business Magazine” and “Time Out Chicago”. Currently, she is the Chief Academic Officer for the Accreditation Council for Medical Affairs (ACMA). Her areas of interest are assessment and development of medical affairs professionals.

Summary

Dr. Suzanne Soliman began the Pharmacist Moms Group after feeling guilty for missing her son’s baseball game. When training to be a pharmacist, so many had said that it was a great career for moms because it had such a great schedule. Conversely, Suzy found that she was working late nights and weekends which caused her to miss her children’s events and games. After not being able to sleep one night because of the guilt, Suzy created the group on Facebook because she wanted to connect with other pharmacist moms who were experiencing what she was. Today, the group boasts over 25,000 members.

The Pharmacist Moms Group offers several resources to its’ members and focuses on creating a strong support network no matter what phase of life you are going through. The Pro Group Membership is now offered which includes resume review, expert talks, continuing education credits, and additional support. The group also offers discounts on two board certifications.

Suzy didn’t expect the growth that the group has seen and hasn’t put in any money to advertise. It has simply grown from the support that is offered to one another. There are 8 moderators and admins that are involved with the Facebook group. A Director of Research has been added to the leadership team to focus solely on research. Although she feels that there is never enough time in the day, Suzy finds time to work on this movement in the early morning or evening when her children are sleeping and answers emails whenever she’s in line waiting for something.

As far as personal finance is concerned, Suzy sees that the main financial challenges the group faces are regarding student loans and 529s. Suzy’s advice to anyone who is overwhelmed with student loan debt or is frustrated that they aren’t progressing in their financial plan in the way they want is to live within your means, be comfortable with unforeseen circumstances, and get or create a side hustle to bring in extra income.

Suzy is passionate and incredibly motivated to help propel woman in pharmacy in equality and to step into leadership positions.

Mentioned on the Show

Episode Transcript

Tim Ulbrich: Hey, what’s up, everybody? Welcome to this week’s episode of the Your Financial Pharmacist podcast. Over the past year, as you know, we’ve been featuring several inspiring side hustle stories — shoutout to our team member Tim Church, who’s been leading that — as well as several entrepreneurial journeys. And we have another great one for you today. I’m excited to welcome Dr. Suzanne Soliman to talk about her career journey, her work in founding the Pharmacist Moms Group, and to discuss the financial challenges and questions that are top-of-mind for their 25,000+ members. So a little bit about Suzi before we jump into the interview today: Dr. Suzanne Soliman earned her PharmD from the University of Illinois at Chicago in 2004. She completed residency training in primary care with an emphasis on education at Midwestern University Chicago College of Pharmacy and a teaching fellowship at the University of Illinois at Chicago College of Medicine. Suzi worked as a clinical pharmacist and medical science liaison and national field team educator prior to becoming an assistant dean of academic affairs at the University of Illinois at Chicago College of Pharmacy. She most recently was an associate dean at Touro College of Pharmacy in New York and independent pharmacy owner. She has over 75 publications, has presented at numerous national meetings, she is a Rufus Lyman award recipient, which is granted for the best manuscript published in the American Journal of Pharmacy Education. She served as the medical expert on a number of pharmacy issues and has been a reviewers for the Annals of Pharmacotherapy and Currents in Pharmacy Teaching and Learning. She’s been quoted in Crane, Chicago Business Magazine and Timeout Chicago. Currently, she’s the Chief Academic Officer for the accreditation council for medical affairs. Her areas of interest are assessment and development of medical affairs professionals. Suzi, welcome to the Your Financial Pharmacist podcast!

Suzanne Soliman: Thank you, Tim. Thanks for having me on the show.

Tim Ulbrich: Yeah, excited to have you. And now that we know a little bit more about your background, let’s talk about your work in building the Pharmacist Moms Group, which I have to say, you and I talked a couple years ago, so I’ve been able to watch this journey from afar, when you were just beginning, seeing it grow. There’s now more than 25,000 members, and I saw on your website, there’s over 2 million posts, comments and reactions on your Facebook page in 2018. So clearly, you have identified a need, a pain point, and area of interest where there’s others that are desiring for or have a problem that needs to be solved. So tell us a little bit about the Pharmacist Moms Group.

Suzanne Soliman: Sure. So thank you for the introduction and everything. But the Pharmacist Moms Group, it just kind of started. And I know I’ve talked about this before, but basically, my son, who had a baseball game and I couldn’t attend because I was working, and I felt really bad. You go into pharmacy a lot of times — I know a lot of my mom friends have said this — go in because you hear, oh, it’s a great profession to be a mom, you know? And then what I found was I was working late, I was missing games, I was working weekends, and I felt bad. I couldn’t sleep one night, so I decided to start this group. I went online and invited my friends and just said, you know, “I feel really bad. I feel this guilt, and I don’t know what to do.” And I felt that other pharmacists could relate. There were other moms groups that I was a part of, but I really felt that I wanted to talk to pharmacist moms because they went through similar type of rigorous education or residency or fellowship training. So for me, I felt that I really wanted to connect with other pharmacist moms. And what I found was that a lot of other women felt the same way that I did. And the group has just kind of grown from there. It’s really just been a support group, a group for each other to bounce questions off of each other, whether they’re personal questions, not pharmacy-related, or pharmacy-related. And so we’ve kind of just grown from there and you know, really learned from one another.

Tim Ulbrich: I think when you say “kind of grown,” I think you’re being humble, which I appreciate. But “exploded” might be a better word. But I think clearly, you’ve got great brand recognition with what you’re doing. And I love that it’s not just about growing a business, growing a brand, like you’re doing it out of obviously motivations of developing a community and support and resources for one another, something that you felt like you needed and obviously others, that has resonated with. So let me ask you this, so you mention on your website that the goal of the group is simple, the Pharmacist Moms Group, to create a supportive community full of cool resources for pharmacist moms. So what does that practically look like? If somebody were to come to your website or join the Facebook group or the community, what exactly does that look like in terms of the community and the resources that you offer?

Suzanne Soliman: You really hit the nail on the head because I think for me, I’ve always been passionate about women and pharmacy and that entire area. I mean, it just speaks to me. I love it, and I’m passionate about it, and so what I found was that what our group offers — and we’ve evolved. So you know, initially, it was just kind of questions. And then someone said, “You know what? I’m learning so much from this group, why don’t we earn Continuing Education for some of these posts?” So we’ve partnered with a CE company, and we’re now earning Continuing Education credits. We’re also a supportive network, so we’ve had pharmacists going through divorce, going through loss. We’ve tried to connect — when there was a pharmacist who was actually shot working in the pharmacy, we tried to raise money for her and her technician. We’ve really tried to support one another throughout our careers. There’s new moms on there, there’s mothers who are grandmothers now who are on there who’ve gone through a lot and can offer a lot of experience and knowledge to one another. And we offer a pro group now where you get a resume review included. We have a book club. Just mountains and mountains of different areas. And we’ve also started these little subgroups now because the group is so large. So we have an independent pharmacist moms group, so if you own your own independent or you’re thinking about it, and the hospital pharmacy group. So we’ve kind of started forming these smaller communities within this large community.

Tim Ulbrich: So for those that are listening that haven’t already checked out or aren’t aware of what you’re doing, head on over to PharmacistMomsGroup.com or certainly the Facebook group I think is a great point to jump in, lots of different areas. I know you’re active on Instagram and others as well. So I want to talk a little bit from a business perspective. You know, as you’ve experienced such a significant growth in a short period of time — and I can tell that you’ve evolved, you know, when you think back to your son’s baseball game and when this initial idea came to be, could you have envisioned what this looks like right now? I mean, did you see the vision and it was just a matter of time to build it? Or has this really evolved over time as you took one step and then you identified another need, another need and then another need.

Suzanne Soliman: Yeah, I think it’s more of the latter. So I did not expect this at all. I always tell everyone, I haven’t put in any money for advertising. This is really just a community that’s grown from the support that we offer one another and from being kind to each other and trying to help each other and really be there for one another. And it’s evolved. So like I had mentioned, when someone brought up the idea of the Continuing Education, we’re like, you know what, that’s a good idea. Let’s try to do that. Or if they brought up the subgroups, you know, I have a question, but I really want to group it or send it only to these pharmacists. So we’ve really evolved. And one of the things that was great that we identified from the group was that women were graduating for the past four decades at higher levels than male pharmacy students. So we’ve graduated more and more female students. But we didn’t really recognize where they’ve come. So we established the first Women Pharmacists Day last year, and it will continue this year. So again, it’s just been — I want to say evolving throughout this time. And it’s been great. It’s been a lot of fun, I’ve met a lot of great people. I’ve made a lot of new friends. And I am just so passionate about this area, and I think that it’s an area that we really need to provide support for. We need to remember that there are women who are working retail and at a retail chain store, and they might have babies at home, and they need to pump at work, and there’s no place to pump. We need to be their voice, we need to let everyone know about that.

Tim Ulbrich: What I’ve really enjoyed, Suzi, watching from afar — obviously, I’m not a pharmacist mom, so I’m not in the group — but watching the growth and the interest is that when I hear you talk about the community and supporting one another, I mean, at the end of the day, any great business is built off of providing great value. And you know, I think of Seth Godin, and he talks about the concept of tribe and building a community that is passionate about helping one another and moving a certain issue or advancing a certain topic forward, and I think that’s what you’ve done so well here. And I think you and I both would agree on this, at the end of the day, if you can find something you’re really, really passionate about, and it can empower and help other people and you can ultimately make a business of it, that’s a win-win all around. And I think that that’s what makes all of this so much fun. So talk to me a little bit about the business model. So we may have people out there listening to this podcast thinking about, hey, I’ve got this great idea, and maybe it involves community directly, maybe it doesn’t. But ultimately, even though you grow something, you’re investing time, you’re investing some resources, obviously probably time may be the most significant one, but at the end of the day, as you think about this in terms of a business for the future, what does the model of this look like for you in terms of either sponsorship for the pro group? So talk to us more about the business model of Pharmacist Moms Group.

Suzanne Soliman: I’m still unsure of the actual business model. I didn’t set out for it in that way, but ultimately, you’re right. It takes hours and hours of work, so the main thing is that we have moderators and admins, and I have a great group of pharmacists that I’ve met who are really involved. And right now, it’s about the time and energy that we’re putting into the group. So I think that there are so many of us now. There’s like eight of us, actually, and we actually have one woman who’s focused solely on the research aspect. So for me, it’s also about the research part of the group. As a former professor and administrator at two colleges — or three colleges of pharmacy, I understand the importance of data and having the data behind it. And with numbers where we hit 25,000 pharmacists, surveying them, understanding their needs, presenting this at national meetings, talking about what people out in the field are experiencing that those working in a different area might not realize that they’re experiencing. So I think for me, that’s been an area that we’re planning to focus on. So one of the moderators now in our group, that’s her area. She’s kind of the Director of Research. Her name is Eva Ferris-Colon (?), she’s going to be kind of the Director of Research for the Pharmacist Moms Group. And anyone who’s interested in studying or surveying us and finding out about different areas, so that’s definitely something that we’re planning. And for me, it’s really going to continue to evolve. I think that ultimately, my goal for this group is really to empower women pharmacists and help their careers, help them in their careers, help them propel their careers, help them answer questions so that they don’t feel alone. I know myself, sometimes you’re alone in a pharmacy. You might be working only with technicians. And when I say “alone,” like without peers at a similar level. So you might have techs that you’re working with, but you might not have another pharmacist to bounce a question off of or you might be working on a team in a hospital, but you might not have that pharmacist with you as well. So for me, that’s really where we’re going. Facebook asked us — now going back to the business question — so Facebook actually approached us and they asked us to start this subscription model. So we started the pro group, and it’s been great. Really, within that group, we’ve incorporated a lot of the Continuing Education, the resume review, different ideas, bringing experts like yourself to come and talk to the group, which has been great. And I think that’s where I see the business for the Pharmacist Moms Group going is that we’re kind of a one-stop shop where you can hear from these experts, you can have your support group, you can have your laughs, your jokes, and you can earn your CE and kind of do everything at one point. And if you need a resume review yearly, that’s included too. So that’s kind of where I see it going.

Tim Ulbrich: Yeah, I really like what you’re doing with the pro membership concept. I think that’s a business model for others to think about is that you’ve got lots of resources and opportunity for people to engage and develop a community that could happen for free, but also, there’s a subset of people that want to engage at a different level. And I think again, you know, it’s an investment of time and resource and other things. And so I think your pro membership option allows that. And so, to put a plug in for that, if you go PharmacistMomsGroup.com, you’ll see information on there about the pro membership. It’s $59.99 per year, and it looks like there’s a coupon code, SAVE10 for $10 off your first year. And so as I understand it, Suzi, essentially then there’s a package of resources or additional benefits that people get in the pro membership that they may not necessarily otherwise get. So member-only CEs, monthly member-only live sessions, live trainings, you mentioned the resume review, exclusive discounts, and so I think that model is something to consider for others that are of value and different options for their business as well.

Suzanne Soliman: Yes. We actually recently just partnered with two — so we have two different board certifications that you can get a discount on too, so the board certification for MTM. If you’re a member of the pro group, you can get a discount on it. Board certification for medical affairs, if you’re a member of the pro group, you can get your application fee waived. So there’s different benefits as well. And then we partnered with Mama Jamas, and they’re a company —

Tim Ulbrich: I saw that.

Suzanne Soliman: Yeah, so they offer — they actually started out in Nordstrom, and they have this amazing clothing line, and so we get discounts for that. So there’s a bunch of different areas that we’re able to offer discounts for for pharmacist moms.

Tim Ulbrich: So let’s talk for a minute about personal finance as it relates to the Pharmacist Moms Group. And I know you and I, as you mentioned, have partnered on several education sessions, actually doing one this afternoon, which I am excited about for your pro group. And based on these sessions, the feedback that I’ve seen and seeing the mention of personal finance as a topic of interest on your website, you know, I presume this is a topic that’s frequently discussed among your community members. So what are some of the financial challenges that you see your community is facing?

Suzanne Soliman: So I think the No. 1 thing that I always see posted is really to do with student loans and paying them off or not paying them off. And there’s so many people who have — they do have the money to pay it off, and then they’re wondering if they should or if they should just wait. So that’s the first thing. And then the second thing is more my personal question that I would love to ask you — and I do see it posted from time-to-time, but it’s really related to 529s for children because for me, my husband and I have put in money for our children into them, but I always wonder if we’re wasting our money putting it into the 529 because what if our kids, for example, get a scholarship? Or what if another child decides they don’t want to go to college? And what happens to our money? So I guess I’m always hesitant when we do it. I understand the tax benefit, you know, but then I’m always nervous about well, what if in 10 or 15 years, this child is like — I don’t know, something happens that’s different than what we thought of.

Tim Ulbrich: That’s a great question, actually something my wife and I have talked a lot about. And let me just address that briefly because we really haven’t talked about 529s on the podcast a whole lot. So this is a good opportunity to do it. And actually, I think that was one of the questions submitted by your members that we’re going to address this afternoon in the Facebook Live as well. You know, the reason I struggle with 529s — and I will say my wife and I, so we have contributions for all three of our kids in there right now. I would say we’re kind of meddling in the middle. Like we really haven’t gone all-in and in part, for us, what I struggle with to the 529s is certainly a great tax advantaged savings vehicle, it essentially operates like a Roth IRA for college. So money you put in, it’s already been taxed, and it’s going to grow, grow tax-free. You can pull it out as long as you’re using it for educational benefits, which is pretty broad. I mean, it could be tuition, it can be board, it can be books. And one of the advantage, especially if you have multiple children, is the opportunity to transfer it within the family. And I believe within siblings, so like I could transfer it to my brother’s kids, for example, if for whatever reason, my kids weren’t going to use it. So let’s say my oldest son decides not to go to school for whatever reason or he gets a scholarship, but my other two do, I would have the option to transfer it. So there is that flexibility, which has the advantage. The thing I struggle with, Suzi, a little bit is what does the future of college education look like?

Suzanne Soliman: Yes, I know. Yeah, yeah.

Tim Ulbrich: I mean, right? So you know, I know you have your oldest is 15, is that right?

Suzanne Soliman: Yeah, so he is. So I guess that’s the thing. So some of the schools — I’m sure you’ve seen this — but in New York now, public education is free. And I don’t live in New York, but I’m wondering, you know, will that happen in other states? Will that happen in the state I live in? Especially my daughter, my youngest, my daughter is 5, and who knows what’s going to happen in 13 years with education? And then my 15-year-old is — he has a disability, so sometimes I wonder with him, he might not go to school. So then what happens to that money? So I wonder with all of that as well.

Tim Ulbrich: Yeah, I mean, you’re thinking through it the exact same way my wife and I are. I mean, with I think kids that are closer to college, the system in three or four or five years may very much look like today, but what will it look like in 10 or 15 years? Will free college be normal? Will it keep going up at rates that far outpace inflation and now all of a sudden, we’re going to be up a creek because we didn’t save as much? And I think that’s why we are kind of meddling in a little bit of the middle. We’re contributing, but I’m hesitant to overcontribute. You know, part of my thought is that on some level, if somebody’s in a position where they have no student loan debt, maybe even a house is paid off or close, you know, other goals are on their way to being achieved, retirement, other things that there’s an opportunity to cash flow some of that or even look at alternative options for taking on lower interest rate debt they could pay off. The other thing is, while I would never favor this option, there’s an option to pull money from a Roth IRA for educational expenses that doesn’t get hit with a tax in terms of a penalty, that 10% penalty. So that’s another alternative option. So my wife and I are looking at a combination of since we don’t know what it’s going to look like, we don’t know scholarships, free, all that kind of stuff, maybe they don’t want to go to college, you know, we’re going to have a little bit there, but we’re also going to hopefully cash flow some of that along the way. The other thing, Suzi, I’ve seen — I don’t know if you see your community talking about this — is that I think a lot of pharmacists, especially if they’ve come out with let’s say $150,0000-200,000 of student loan debt, they tend to overcompensate for their situation at the expense of their own other financial goals. So for example, somebody may say, ‘I came out with $200,000 of debt. I absolutely never want my kids to experience any of that. Therefore, I’m going to pay 100% of it,’ but that’s at the expense of saving for retirement or making sure that we have a solid emergency fund, or they’re still carrying around high interest rate debt themselves, and they might be on one hand helping the future with their kids’ college, but on the other hand, overcompensating and hurting their own financial plan. So I think certainly for each person, it’s different. But I think that’s a word of caution I’d give to any of your audience members or our listeners at large is that I think there’s a tendency to overcompensate for what we experience personally and really to try to take a step back objectively and think about it in the context of other goals.

Suzanne Soliman: Yeah, that makes sense. That makes sense.

Tim Ulbrich: So Suzi, we often talk with pharmacists, they could be moms, dads, singles, it really doesn’t matter, and hear that they’re overwhelmed with student loan debt, they’re frustrated that they’re not progressing as fast as they would like to be with their financial plan. Based on your own personal experience or what you’ve seen as success stories within your community, what advice would you have for the pharmacist moms out there or even the others at large in terms of those that are facing multiple competing financial priorities and how they can begin to tackle that? Or where should they start in terms of their financial plan?

Suzanne Soliman: So I think that for me, I’m still paying my student loans. But my student loan rate when I graduated — my interest rate is unbelievable. It’s under 2%.

Tim Ulbrich: Crazy.

Suzanne Soliman: Yeah, it’s crazy low. So I’m personally the person who’s waiting the full 30 years, given my rate. And I think that you have to be comfortable — if you are waiting, you have to be comfortable with some level of debt where some people I know, they have the 1%, and they’re just like, no way, I’m going to pay that off. I can’t handle having the 1%. But I’m like, but if you put your money somewhere else, you’re going to earn more than 1%. You know? So you have to feel comfortable with it. If you’re battling it, I mean, for me, I look at if something has a high interest rate, just pay that off first or something that’s smaller, you’d want to pay that off first too. But I think for me, what I’ve realized is that I think sometimes when you’re in pharmacy school, you’re like, I’m going to graduate, and I’m going to go make these big bucks, and once I graduate, I’m just going to be earning so much that I can pay everything off. But then life happens, right?

Tim Ulbrich: Yes.

Suzanne Soliman: And you have to get a car, and you want a new car because now you’re Dr. Such-and-Such, and you might have done residency. And for myself, my friends were earning six figures, and I was earning $32,000. That was a big difference in salary. So I think that life happens, and different things happen, and it’s really about — I mean, for me, it was trying to live within your means for awhile and then realizing again, then you have children that might come along, might or might not, you know? And you have other expenses. I mean, I was just saying that actually on the phone with my mom today. I had fixed my one car, you know, one car got hit on the garage, and I had to go fix it. And then what happens, I was like, OK, fine, that happened. Then my boys were outside playing basketball, and of course, they break the side view mirror with the basketball. I’m like, I just think that my miscellaneous budget is going to be under this for this month, and then something happens. That’s how life is, so being comfortable with what comes at you and just that we have to all be comfortable with that. You don’t know what the unforeseen circumstances that might come your way. So I don’t know, for me, I don’t necessarily think you have to pay all of your student debt off immediately, but if you do, I’m sure that’s a really, really great feeling. But if there are other things that are more important and then the second thing is always having a side hustle or something else. I mean, when I was in residency, I was still working for one of the chains, you know, kind of as a floater. And then I always tried to do something else or tried to have a couple incomes or sources of income. So that’s always been very helpful for me, at least. It might not work for everyone, but for me, it’s helped.

Tim Ulbrich: I think so. And I think especially, you know, obviously it’s well documented what’s going on in the job market and in many parts of the country, 32 is the new 40 in terms of committed salary, and we’re even seeing some compression in that hourly rate for a pharmacist. But I think a side hustle — not only from the financial piece but also from the pursuit of something you’re passionate about. I mean, there’s something to be said for an area, whether it’s a creative outlet, whether it earns money, maybe a little bit, maybe a lot of bit, to be able to get energy from that I think is one of the often overlooked aspects of a side hustle. So Suzi, let me ask you for the dads that are out there listening to this episode, what advice would you have in terms of how they can best relate with and effectively work with their significant other when it comes to this topic of money? Probably one of the most common questions we get is, hey, I’m really trying to progress the financial plan, but I feel like me and my spouse aren’t on the same page. And we know that certainly is a topic that’s difficult to navigate. So any words of advice from either you personally or what you’ve heard in your community of how somebody may be able to effectively work together with the spouse or significant other?

Suzanne Soliman: You know, OK, I am no expert. But I think that in general, from what I know of either from myself or my friends or within my group community, typically, there’s one person who spends more, and there’s one person who doesn’t. So you know, there’s one person that’s a saver, and there’s one person that’s the spender. And I actually don’t really know many couples where they’re completely aligned. And I think that’s any relationship that you’re in. If you’re in a committed relationship, you just have to find balance between you because you’re never going to — whether it’s related to finance or anything else, you’re not going to find someone that matches your ideals perfectly. So going back to the dads out there, if your wife spent something extra on something, talking about it, but understanding that maybe she has a different level of comfortability. Or vice versa, maybe the dad is the spender, and the mom is the saver, and so understanding that the level of comfortability, having conversations about that I think are important, about levels of risk. I think risk is a big one. So I grew up in a family where risk wasn’t — it wasn’t as tolerated, maybe. So I grew up, my parents taught me, never have credit card debt. If you charge something on a credit card, you have to pay it off immediately. If you don’t have enough cash in the bank, you don’t use it and you don’t use it at all. So I think I was very risk-averse. So even certain things, it’s hard for me to stomach, like purchasing a house, I’m like, oh my gosh, that’s a really big amount of debt you’re going to take on. But then I realize that you know what, that’s just because of how I grew up and things that I was told. But it doesn’t necessarily mean that — some debt is good. And that’s where I began to become comfortable, like I had mentioned, with my student loan debt and saying, you know what — and that’s where I started to invest in the market and become familiar with the market, become familiar with mutual funds. I actually have taught my 7-year-old — he’s 7, and I’ve been teaching him how to check the market and different things.

Tim Ulbrich: That’s awesome.

Suzanne Soliman: So it’s been fun with that. But yeah, I think when it comes to relationships, I think the finance part of it — yeah, you generally hear that’s what people disagree on. But I just think that you have to understand that most couples, whoever you’re with, you’re probably going to disagree with them on certain things. I mean, eventually, you’re going to come to an agreement, but if she really likes those shoes or if he really likes that new electronic, you’re both going to have to be OK with that, you know?

Tim Ulbrich: Yeah, and I think to highlight what you said there too is also just being aware of that and appreciating what the other person is. I think that there’s no good or bad in a spender and a saver. I think each of them has benefits, and I think often when you have those different money personalities, I think that can be a powerful combination when you get to the point of appreciating it really challenging each other in both of those areas. And I think risk is a great one. You know, you take the idea that you have two people that are very conservative with their financial plan, that may have some significant upsides in some areas, but it also may put a ceiling in terms of what you’re able to really do and grow long-term with your wealth and achieving the other goals that you want to achieve.

Suzanne Soliman: Definitely. I think for me, like what changed my mind was initially, I was doing the savings and my father was saving everything, and he had plans to retire at 55 and he was investing in his 401k’s and would sometimes stay at a lower-end hotel because he wanted to just save. And then my dad got cancer, and he died, you know, quickly. So he never got to enjoy his money or experience it or see it, and what’s interesting is my mother-in-law also passed. She was a teacher, she had a pension, she had everything. She passed at 62 from a brain tumor. So I guess I saw loved ones who never got to get to retirement and enjoy, and that’s what also shifted me to begin to see that, you know what, sometimes, it’s OK to spend. It’s OK to splurge because we’re not sure if we’re going to get that day.

Tim Ulbrich: Absolutely. Yeah. And I want to give credit here — Tim Baker does a great job of this. He did with my wife, Jess, and I and others that we work as well, just asking those kind of questions and playing those scenarios out. I mean, if you were to really conservatively save for 40 years and then for whatever reason weren’t able to enjoy it, health, something unexpected, whatever be the case, I mean, what is the point of all of this to begin with? So really identifying that why, that purpose, and I think it’s about balance, right?

Suzanne Soliman: Yeah.

Tim Ulbrich: It’s about not spending outside of your means all the time now, kind of the YOLO concept, but also it’s not about just squirreling away money for 40 years and then hoping you’re healthy enough to be able to enjoy it, so I like the concept Tim Ferriss’ 4-hour workweek, he talks about mini-retirements and this idea of really enjoying this time throughout your career. And I think you can still wisely save up for it and spend it, and I think you can accomplish a little bit of both of these along the way. So let me ask you a few questions in terms of thinking about your business, the direction going forward, and how you balance all of this in terms of full-time job and business. But first, let me start with, you know, we both know well that starting a business, it’s obviously exhilarating, but it’s also difficult. It can be a grind at times, you know, in terms of the time you’re spending, especially as you’re balancing family activities and other things. So what keeps you motivated as you continue to press forward with the Pharmacist Moms Group and that growing while you’re also managing your full-time job?

Suzanne Soliman: So for me, it’s really about my passion. So for Pharmacist Moms, it’s just what I want to do. It’s kind of what I’m really passionate about: women and pharmacy and making a difference and seeing changes and bringing things to fruition. For me, it’s what I wake up early about, and I can’t wait to look at different things related to pharmacists and women and read papers about it, and I get enjoyment from it. So I’m smiling here because this is — I don’t necessarily think of it as business. I really think of it as we’re a movement, you know, of women who are going to change pharmacy for the better to really help pharmacist women and propel our careers, to just do a lot. So you know, it’s just my passion. And I think when you’re passionate about something, it changes everything.

Tim Ulbrich: So how do you, Suzi, how do you practically carve out time. It’s a question we often get, hey, I’m really interested in starting a side hustle, but with family or job, I just don’t have energy, I don’t have time. What has worked for you in terms of being able to prioritize and cut out time in your schedule to work on the Pharmacist Moms Group?

refinance student loans

Suzanne Soliman: There’s never going to be enough time. Ever. For me, I wake up early. So you know, I try to wake up by like 5 o’clock in the morning, before my kids are awake, so I can get some work done during the quiet times. Or I’ll stay up late and get things done when my kids are sleeping. So for me, something’s got to give, right? So for me, it’s been my sleep. So I don’t necessarily do that. I never watch TV. I mean, I rarely if ever, ever, ever watch TV. And I know that’s not great, but I just don’t watch anything on the television except I hear what my children are watching Teen Nick or they’re watching Disney Junior, and I hear that going on in the background. So I know what they’re watching. But I don’t. So for me, it’s just making the time. So if I’m picking up my kids from school, a lot of times, I’m on my phone, checking my email while I’m waiting for them to come out. Or in the morning, when I’m waiting for my drink if I’m at Dunkin Donuts, I’m checking things. I’m sure — there is time somewhere. But something’s got to give. And so during my workouts, when I work out, I listen to podcasts so I’m learning and I’m learning new information at all times. For me, that’s what works. And I just think, again, there’s never going to be enough time. And constantly, if you ask my husband, that’s literally all I ever say is, “There’s not enough time in the day,” like, “I have so much to do,” so it’s really about prioritizing what needs to get done. And I think I said this to you earlier, like I’m really bad at checking my email. So if anyone emails me, I’m so sorry. Like sometimes it takes me a week to get back. And sometimes, I never get back. And it’s just because I look at it — text me if you really need to find me, text me or Facebook Messenger me. I’m a little bit more responsive on both of those, but it’s so hard to keep up. I get so much spam email too that it’s like, I just have — if you look at my inbox, I’m embarrassed to say this, but my inbox on my iPhone, I think it has over, yeah, 228,000 unread messages. So it’s crazy.

Tim Ulbrich: Well, what I like about that — I know I mentioned this to you as well before we recorded — is that, you know, I often feel that itch with email as well, but I try to sometimes take a step back. And if you think about vision of what you’re working on, your movement, or you think about legacy, which I’m going to ask you here about in a minute, you know, at the end of the day, those are the things that you’re going to remember and that are going to have an impact, right? So certainly, email is a necessary evil at times, but it is so easy to spend a day in email and actually do nothing to move the business forward or move the movement forward. So I think that for those that are out there — and this is true with a website, you know, somebody’s trying to start a business and they’re focusing on business cards or website design or all these things, it’s easy to get sucked up into these details that may not actually help you progress and move things forward. So legacy — let me ask you about legacy. And I asked this to Blair Thielemier when I interviewed her on Episode 089 and Ashlee Klevens-Hayes on Episode 095, and it’s one of my favorite questions because I like to hear what people are thinking about in terms of legacy. And I think at the end of the day, this is really one of the things that matters when we think about why are you doing all of this to begin with. And you’ve answered this a little bit, but I’d like to hear a little bit more on this as well. So when you think about the work that you’re doing with the Pharmacist Moms Group today, obviously, what you’re doing is going to be left behind for others to build upon or for others to consume. And for your kids, ultimately, to admire and say, “Yes, that was my mom who did that.” So as you think about what you’re doing with the Pharmacist Moms Group and we fast forward 30, 40, 50 years, what do you want the legacy to be with that work?

Suzanne Soliman: For me, I think that we’ve really helped propel women in pharmacy to really show equality, I want to say, that there’s certain areas that I think that we still need to work on, whether it’s women in leadership positions within pharmacy or some areas of salary as well, especially in academic centers, females are paid still less than males. My goal is to raise my children to be good people that would make — I’d feel like that’s the most important thing on a personal level is that my children grow up and that they’re honest and kind human beings and that they care about others. That’s the ultimate legacy or I think the ultimate way to raise my children. For the group, it’s really just to support women in pharmacy to hopefully one day say that we were able to change the percentage of U.S. college of pharmacy deans, 25% right now that are women, to 50%. I think that is one of the major goals. Or independent pharmacy owners, that more of them are women, that more management, more leadership, that one day we’ll have a retail chain pharmacy CEO that is a female. I think that all of those areas are definitely important for me. They speak to me, they speak to my group, having better maternity benefits for a lot of these women that might have to go back to work right away, that they don’t have a second income to rely on, and they are the breadwinner, and they have to go back, but they’re facing issues with raising their children and working. And I think there are so many things. I think that ultimately, what I would like to create is a group of women that care about one another, that support one another, that bring each other up, you know, that we all really will support one another no matter what. I’m really big on that, on being loyal to one another and helping each other.

Tim Ulbrich: And you’re definitely doing that. So that is awesome, and I appreciate you sharing some of that. And I would encourage for those listening that are thinking about starting a side hustle, starting a movement, starting a business, whatever you want to call it, taking some time to reflect on that question of, what is the purpose of all of this? And if we fast forward 20 or 30 or 40 or 50 years, what is the legacy that you hope to leave in that journey? Because I think that as you get into the details and you get into the weeds and you’re trying to balance schedules and you’re getting up at 5 a.m. and you’re maybe sacrificing time with family at times, really keeping that front and center of the purpose of what you’re trying to do is incredible. And Suzi, one of the things that I’m excited about is we have this kind of movement and pharmacy entrepreneurship that’s going on. I think about the work that you’re doing, I think about the work that Ashlee Klevens-Hayes and Blair Thielemier, Tony Guerra, Alex Barker, I mean, the list keeps going on and on, but thinking about there are certainly as we think about the kids that all of us have, they’re observers of what’s happening. And my kids are young enough, they may not necessarily articulate it, but it’s going to be fun to see what that next generation is going to do as they certainly are going through this time of being a part of it, either indirectly or directly. Last question I have for you is on your website, you had mentioned one of your favorite quotes is “Live life as if everything is rigged in your favor.” Tell me more.

Suzanne Soliman: So that’s from Rumi. So I’m a big believer in everything that might happen, you have to find the good in it. So there have been things that have happened in my life, even decisions or choices that I have made that might not have been the best decisions or might not have been — or choices or things that have happened that have been very difficult. And I think, though, you’re faced with a choice at that point. And you can either feel bad about it — and I did, and I have felt bad — but I think really when you think about it and you think that maybe this happened for a reason, you know, whether it’s — it could be anyone about losing a job, losing a parent, losing someone close to you. It could be going through a divorce, it could be, you know, just different areas, struggling with anxiety, struggling with depression, struggling with substance abuse. It could be any area. But remembering that whatever you might struggle with — it could be struggling with finances, you know, that maybe this happened to you for in your favor. I mean, it could be moving away to a different area and losing your network of friends and contacts and having to start all over and realizing that, you know, God or the universe or whatever you want to call it, placed you in that position for a reason. And you’re in that position for a reason, and now, it’s really to challenge yourself to find out why you’re in that place and learn from it and grow from it. And I think that that’s the beauty of that quote and how I like to live my life, that no matter what happens, there’s got to be some reason why I’m going through that at that moment.

Tim Ulbrich: Awesome. Thank you. So before we wrap up, is there a specific book or podcast or blog or something that you’re reading or listening to that you would recommend to our listeners?

Suzanne Soliman: So I always recommend this book. I’ve listened to it multiple, multiple times. It changed my life. It is called “The Universe Has Your Back” by Gabby Bernstein. I’m not sure how many people are into these kind of books, but it’s one of the most amazing books, and it helped me when I was struggling at certain points in my life. And I have listened to this book. I actually listen to books more than read them because I just don’t have the time to read anymore. So I listened to it multiple times, so I would recommend that to everyone. And I listen to “Super Soul Sunday” by Oprah all the time, so I’m a big Oprah fan. And anything with Oprah, I love listening to and I’m very inspired by and I find it very inspirational.

Tim Ulbrich: Awesome. Thank you for sharing that. Thank you for coming on the show, sharing the work that you’re doing at the Pharmacist Moms Group. Truly, it has been an inspiration to watch. I continue to look for ways that we can partner and continue to see that group grow and thrive and just congratulations on the awesome work that you’ve done on achieving that mission and vision that you had. So where should our listeners go to learn more about you and the work that you’re doing with Pharmacist Moms Group?

Suzanne Soliman: Sure. They can go right to the website. They can go to www.PharmacistMomsGroup.com, and they can find out more. Or if they want to reach me, they can send an email — like I said, they can try to send an email through that page as well or find me on Facebook or on my Instagram or even Twitter, that I sometimes use as well. So.

Tim Ulbrich: Awesome. So maybe social media instead of email, right? That’s what we learned.

Suzanne Soliman: Yeah, definitely. That’s probably better, yeah.

Tim Ulbrich: Awesome. Thank you again. And for our listeners, if you’ve liked what you heard on this week’s episode of the Your Financial Pharmacist podcast, please leave us a review and rate us in iTunes or wherever you listen to your podcasts each and every week. We’re grateful for your support of the work that we’re doing. And if you haven’t yet, check out YourFinancialPharmacist.com, we’ve got lots of free resources, guides, calculators, tools and checklists to help you on your path towards achieving financial freedom. Have a great rest of your week.

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YFP 101: How to Get Started with Podcasting


How to Get Started with Podcasting

Dr. Hillary Blackburn joins Tim Church on this week’s episode to talk about her unique pharmacy career at Dispensary of Hope, her side hustles, and how she started the Talk to Your Pharmacist Podcast.

Summary

Dr. Hillary Blackburn is a clinical pharmacist, Director of Pharmaceutical Services at Dispensary of Hope, creator and host of the Talk to Your Pharmacist podcast and the Founder and CEO of the Natural Products Resource Center (NPRC). She joins the YFP podcast to speak about her unique pharmacy career and side hustles.

Hillary grew up in Mississippi and graduated from the University of Mississippi. She always thought she would end up in medical school, but after being on clinical rotations she saw how broad of a career pharmacists can have.

Hillary has worked in several capacities as a pharmacist but loves the role she holds as the Director of Pharmaceutical Services at Dispensary of Hope. Dispensary of Hope is a charitable medication distributor that distributes medication to uninsured people in 31 states and over 160 pharmacies and clinics. Her day-to-day schedule at work varies, but you can find her attending meetings, answering emails, planning, and presenting on current pharmacy trends often. She explains that her job is a blend of managed care, management, public health and mission.

After being in Nashville for a year and meeting her husband, who is also very entrepreneurial, Hillary got that entrepreneurial itch, too. She loves to listen to and read content about pharmacy and pharmacy trends and decided to start the Talk to Your Pharmacist Podcast in Spring 2017. She sought guidance in her network and worked with two people in Nashville to learn how to start a podcast. Now, Hillary does everything from start to finish, including identifying a guest, researching the guest and topic, scheduling, recording, and editing. She has since been able to monetize the podcast through sponsorships from companies that have organically found her. She was first approached for sponsorship after releasing 40 episodes in Talk to Your Pharmacist Podcast’s first year. Hillary only supports and suggests brands that she’s tried and believes in.

Hillary is also the founder and CEO of the Natural Products Resource Center (NPRC). Additionally, she also has created Residency Bootcamp evergreen webinars which provide on-demand training to coach people through the residency process. Hillary also moonlights for a retail pharmacy chain. Her extra money is going to a lot of saving, travel, and planning for a family.

Hillary really enjoys her job at Dispensary of Hope and doesn’t find it to be stressful. She’s able to find time to balance her side hustles with her life by prioritizing her health and being driven by passion.

Mentioned on the Show

Episode Transcript

Tim Church: Hillary, thank you so much for taking the time to come on the show and for being part of this side hustle edition.

Hillary Blackburn: Awesome, thanks, Tim. It’s an honor to be a guest.

Tim Church: Yeah, we’re reciprocating, right? Since you gave me the opportunity last year. That was really cool to be a part of your show.

Hillary Blackburn: Absolutely. Yeah, I love getting to share with other pharmacy leaders and even getting to meet them in person. Tim Ulbrich was just down in Nashville a few weeks ago and had the pleasure of getting to connect with him as well. So always fun to do some collaborations.

Tim Church: Yeah, when we met last year in Nashville at the APhA annual meeting, it was pretty easy to tell that you’re somebody who’s not only passionate about our profession but also entrepreneurship. So it’s always fun to get a chance to talk with you.

Hillary Blackburn: Yeah, yes. It’s fun to be with other like-minded pharmacists for sure.

Tim Church: So can you talk a little bit about your career path as a pharmacist?

Hillary Blackburn: Sure. So I’m Hillary Blackburn, currently director of pharmaceutical services at Dispensary of Hope, the creator and host of the Talk to Your Pharmacist podcast and the founder and CEO of the Natural Products Resource Center. So clinically trained and have been practicing for the past eight years in a variety of settings. So my career has taken a few, you know, unexpected paths but ultimately, have led me to where I am today. So you know, after attending pharmacy school at the University of Mississippi, I definitely selected rotations to get a very broad experience in clinical rotations but even served as an intern during two summers with the Health Resources and Services Administration’s Office of Pharmacy Affairs in Washington, D.C. Even attended APhA Summer Leadership Institute during one of those summers, which was an excellent experience if any students get the chance to go. And some of you may know that HRSA, or the Office of Pharmacy Affairs oversees the 340b program, which is a program to support the hospitals and clinics across the country who are serving the safety net population. And this was a really unique opportunity because I was able to explore more of that public health standpoint and how to operationalize a national program. And growing up in the Mississippi delta, I was very familiar with some of the lower income population and just had a passion to give back and serve in that way. So after graduating from pharmacy school, I completed my PGY1 residency at the University of Mississippi Medical Center and continued on with that clinical care of being in the ER and ICU, rounding with the internal medicine teams, even having experiences in the ambulatory setting. And you know, after residency, I moved to Nashville and thought I was going to continue on in that path with hospital and really clinical pharmacy but realized that I wanted to change that a little bit and actually worked in the independent pharmacy setting for a family friend and then spent some time working for a health plan, learned all about the prior authorization process, you know, refined my formulary management development skills, and then worked at a specialty mail-order pharmacy. So all of those different experiences really have kind of culminated into where I am now, which is full-time at the Dispensary of Hope, which is a charitable medication distributor, for those of you who aren’t familiar. So since 2012, Dispensary of Hope, which is based in Nashville, has assembled a collaborative of most of the largest drug manufacturers in the pharmaceutical space and most of the largest health systems that are serving the uninsured. And so what we do is we partner with these pharmaceutical companies who donate medicine to us as a wholesale distributor, and then we distribute it to clinics, FUHCs, charitable pharmacies and hospital outpatient pharmacies across the country, serving over 160 pharmacies and clinics in about 31 states now.

Tim Church: Wow.

Hillary Blackburn: So it’s really grown a lot, and this was a role that didn’t exist before I started in this position. And so I’ve been able to really create this as my own, you know, unique role and have really expanded those responsibilities. So not only am I still maintaining our formulary, which I started doing as a volunteer when I had some of my other roles, but now I’m consulting with pharmacy leaders across the country, sharing expertise on affordable medication access, helping with any strategy development for implementing programs to address gaps in pharmaceutical care, lead our research and create tools for successful program implementation and help maintain partnerships with some of our external partners such as colleges of pharmacy. So it definitely keeps me busy, but I still have some time and some passions for some other projects.

Tim Church: So what’s your day-to-day look like at the Dispensary of Hope?

Hillary Blackburn: Yeah, well, it varies, which I thoroughly enjoy. So because we’re also a distributor, we do not see patients, which I do miss that aspect of pharmacy practice. There’s definitely a value of being able to see that direct impact on a patient’s life that you’re helping and improving. But day-to-day, it varies anywhere from, you know, attending meetings with the rest of our team. We do not have any other pharmacists on staff. I do have pharmacy students that are on rotation with me. So we’re really bringing that clinical expertise to the organization. And so you know, sometimes I’ll be doing a lot of emails and having to maintain that professional persona and thinking about strategic things like that, planning presentations. I’ll be going over to South Carolina to talk with the South Carolina SHP or ASHP division, talking about healthcare is getting disrupted, is pharmacy ready? So excited to be traveling and giving some presentations about current pharmacy trends, which is a lot of what I do with my podcast, Talk to Your Pharmacist. So it definitely varies, but I usually have a pretty full plate, which keeps me busy. And I enjoy having students to share that kind of mixture of a little bit of managed care management, public health and mission.

Tim Church: That is just really interesting just because obviously, it’s not the most traditional type of pharmacy position. But what I find very fascinating is just the role that you’re playing and how far the reach is. You mentioned 31 states, multiple facilities that you’re helping facilitate the distribution. I just think that’s amazing.

Hillary Blackburn: It is. And you know, being able to visit the pharmacists and pharmacy technicians that are actually doing the work and taking care of patients is probably my favorite part of my role is when I get the opportunity to go out in the field and learn from them too because then I’m able to bring it back and put together resources and share those best practices across our network of pharmacies and clinics.

Tim Church: That’s really cool. Well Hillary, in our profession, there is a lot of negativity with pharmacists’ job satisfaction, just the role in general. What do you like about being a pharmacist and about your job in general?

Hillary Blackburn: That’s a great question. And you know, I’ll tell you what. When I was planning to go to college, I thought I was going into med school. You know, my parents actually encouraged me to apply to Ole Miss’ early entry pharmacy program. And you know, all along, I kind of thought that I was still going to go to med school. But it wasn’t really until my fourth year of pharmacy, getting to do all of the awesome rotations and see the great diversity that pharmacists have opportunities for, and I mean, it’s just blown up even since I was in school. But that was really the exciting — where my passion just really kind of took off about all of the different opportunities: pharmacists being in the pharmaceutical industry or playing integral roles all throughout the hospital setting and then, you know, now we’re really seeing pharmacists heavily embedded in physician practices and finally being recognized with some provider status designations in certain states. So I think we’re going to start to see that happen in different states, you know, as we’re moving from fee-for-service to value-based care, it’s going to be so important for pharmacists to demonstrate the value that we bring to the healthcare team. So I think that’s something that we all need to keep in mind.
Tim Church: Yeah, I definitely agree. So you’re doing amazing things at the Dispensary of Hope and reaching a lot of people. But at what point did you say, ‘You know what, I have this entrepreneurial itch, and I really want to start a business or just do something in addition to my full-time job?’

Hillary Blackburn: Yeah. You know, I have always been a multi — or I guess just very disciplined about time management. Growing up, I played just about every sport. Being from a small town was great in that I had a lot of opportunities, so I’ve always been really regimented with my schedule. And so staying busy is something that I enjoy. And so after pharmacy school and then residency and then being in Nashville, after I’d been in Nashville for about a year or two, and then met my husband, who’s very entrepreneurial, Nashville is just such a great place for entrepreneurism and innovation in healthcare. And you know, starting this podcast was something that, you know, I had been listening to podcasts about entrepreneurship, I loved “Entrepreneur on Fire,” “How I Built This,” “TED Talks,” there’s “Masters of Scale” is one by Reed Hoffman, the founder of LinkedIn. I had been listening to all of these and thought, wow, I’d love to be able to consume content about pharmacy and all of the different trends and things going on there, so much is happening, and it’s hard to keep up with everything. And so that’s really in the spring of 2017 was kind of when I had this vision, and I’m such a doer, you know, once I get something in my head, I’m like, OK, I’ve got to do it. And so you know, it was created really for pharmacists and student pharmacists and others who want to hear from industry leaders about their leadership stories and perspectives on healthcare topics. And it’s just been kind of a fun passion that has turned into, you know, a revenue source. So it’s always great whenever you can fund your passions. So it’s been a really fun journey.

Tim Church: Definitely. So what are the ways you’re monetizing it right now?

Hillary Blackburn: Yeah, so you know, I really had no expectations on the podcast. I thought, you know, I’m just going to start doing it, and see where it goes. You know, of course some goals would have been like, oh, I’d love to get a sponsor or do affiliate marketing or maybe doing a podcast will lead me to get some paid speaking or consulting engagements, which is really I put it all under the umbrella of the Pharmacy Advisory Group, so I could do advising for companies and things like that. But actually, the way that I’ve monetizing it is some of these companies have just organically come to me. So you know, I’ve just stuck with it, with I think I’ve produced — let’s see — over 40 episodes in the first year. So I was almost releasing one a week, which I have been doing that now because I have a sponsorship commitment. But after doing it almost a year, I was approached by Theraworks Relief, which is an over-the-counter muscle cramp reliever, you know, and have been working with them for since August of 2018. And I don’t support any — or I’m not going to sponsor any products that I don’t fully support and believe in. And so after learning about the company, getting a sample of it, you know, I mean, I went through all of that. And I can honestly say that I use it and have got family members who use it. So for me, I don’t necessarily get a lot of cramps as typically, you might when you get older, have some electrolyte things, Restless Leg, things like that. But from like workouts and things, I guess I tend to use it for that. But I’ve got family members using it. And then secondly, another company, Rx Destroyer, is the newest sponsor that we are partnering with. And it’s a really neat company as well. And they’re a chemical drug destruction solution. So basically, it inactivates medications using activated charcoal. They’ve got, you know, a unique mechanism there. But it’s a drug disposal solution for individuals, you know, we’ve got kind of the opioid crisis right now and people don’t want to have all of these unwanted meds at home. So they can get that product at Walgreens or for businesses. So long-term care facilities, the other facilities who have to be responsible for destruction of medications. They can use this Rx Destroyer, and it helps protect our water supply, they’re compliant, so it’s been really fun that those two companies have been able to essentially seek me out and have been — I’ve really enjoyed being able to work with them and, you know, share about their great products with the pharmacy community.

Tim Church: Yeah. And I think that’s really cool, like when you fully believe in products or services, it’s pretty easy to promote those. And that’s similar to what we do on this podcast as well. But making sure that you vet those companies and services that basically, you’re going to trust them yourselves or with your family members, promoting them or encouraging them to use those. So I think that’s one thing that’s really key because unfortunately, there can be a dark side. I know a number of podcasts or just webistes, and they’ll basically promote anything, you know, just based on the traffic that it gets, so I think that’s a really cool process in the way that you took that approach.
Hillary Blackburn: Yeah, I definitely don’t want to promote anything that I don’t fully believe in, so.

Tim Church: So talk about some of the struggles, the challenges, just getting a podcast up and running because — now, I can’t take credit because the other Tims were the ones that really got this one going from the ground floor — but obviously, there’s a lot involved. So talk a little bit about the beginning stages, what was tough for you? What were some of the challenges?

Hillary Blackburn: Oh, there was a lot of tough things because it’s just like anything when you haven’t done it before, you’re like, well, how do I take the next step? So I was really lucky in getting to connect with two other guys here in Nashville who were really generous about sharing their stories. Matt Bodnar has a really successful podcast called “The Science of Success,” and he’s basically outsourced his entire production, which is certainly something that I would love to do. He can basically come in, read the guest bio and everything’s pretty much done. He’s just the personality and can kind of handle all that. Now, someone else was sharing a little bit about, you know, Zincaster. Tim, you and I, we both are using that as our program to be able to do the recordings. But there are plenty of other recordings, and so this friend, David Schiffrin (?), who works with Health Further, which is a health, I guess, they were solely doing conferences, but they’re doing a little bit of a transition, but all about the future of health and bringing different stakeholders together. He shared how he was doing their podcast, and you know, actually showed me Zincast. Seeing it, I’m very visual, getting to see how it worked, how you do the recording, it’s saved in DropBox, you’ve got to find a host for that, a host site to host your podcast. And so right now, I’m still doing start-to-finish everything from identifying the guests, which for me, that’s the easiest part is I feel like I’ve got a great network of people. I’ve been really fortunate to — I’m pretty extroverted, I guess you could say, for a pharmacist. And I enjoy meeting people and staying up-to-date on news, so that’s the fun part is getting to talk to and identify guests. But you know, you’ve got to do the scheduling and then —

Tim Church: And the editing.

Hillary Blackburn: And the editing and the recording. I use GarageBand for my editing. And so none of these things were things that I knew beforehand. Luckily for me, I thought, yeah, my husband’s really techy, I’ll just go to him to do it. He said, “No, no, no. This is your project. You need to learn.” So there is a true value in YouTube videos. So you know, a lot of YouTube videos, learning how to do some of the editing, you know, you just have to stick with it. And the first episode that you do or the first thing that you do in your — maybe you’re going to do video, whatever you do — it’s not going to be perfect. And I know a lot times, pharmacists are perfectionists. But you just have to get Version 1 out there. So once you get Version 1 out there, then you can kind of start refining and get in the groove. And once you’ve done one, so you know, the whole like “see one, do one, teach one,” once you’ve done it, then you are kind of on your way.

Tim Church: Wow. It’s impressive that you’re doing it all, and we’ve had some help recently after I think Episode 050 just because it is very time-consuming. That’s what I was going to ask you is what’s a typical amount of time for you to take an episode from completely fresh start all the way to finished product?

Hillary Blackburn: Well, I would say in total, the time to connect with the guest, prep, get my questions, do the interview, do the editing – I do have a template that I have for editing, so that helps – and then uploading it and revising on SoundCloud, I would say is probably about 2 hours. I’ve kind of got it nailed down now.

Tim Church: Yeah, it sounds like it. Because I remember I think one episode, I had to edit. And it took me I think at least 2 hours to just do the editing because the tracks were off between the guest and the host or something like that. And I just like, I thought to myself, like this is terrible because I just didn’t know the best ways, how to be efficient on that. But I think like you said, you can definitely cut down the time on a lot of the tasks. But even just getting it up to iTunes, up to that point, just the tasks of actually putting it live, there’s a lot of things involved. And then there’s a whole other animal of actually promoting it. One of the things that you do is really cool is you – I don’t know if you’re using the same tool as we are, we use I think it’s WayForm or Wave or something like that? But how you’re showing the different clips or the audio clips with guests, it’s a really cool way that you’re putting out your podcast when you release those.

Hillary Blackburn: Yes, and that’s something that I learned from someone else. So another pharmacist, Meghan Nicole (?) who’s with the Lazy Millennial, I saw her do it and interviewed her as a guest and I’m like, ‘Meghan, how do you that?’ And so as long as we’re sharing information, you know, just helping others out. So I think that’s really important.

Tim Church: Well, I think you’ve done a great job, and I’ve listened to a number of the episodes, and it’s really cool the variety of guests that you bring on, the topics that you discuss and obviously, it’s doing well and it’s successful because I think you’re up to – what? Episode 074? 075 right now?

Hillary Blackburn: Yes. Yeah.

Tim Church: Yeah. That’s incredible. I mean, I’ve heard stats that so many podcasts, they stop producing after just a small number of episodes. So I think that’s cool that you’ve kept it up and persevered because I know there’s some weeks, depending on how involved you are, where it can be tough to manage everything else you have going on and make it be successful.

Hillary Blackburn: Totally. But you know, batching some of the work, as we were talking about earlier, is helpful. And you know, sometimes at a point, you do have to do some outsourcing like getting an intern to help or a student pharmacist helping me grow my Instagram business, that was definitely with a little bit of help from one of the pharmacy students here in Nashville, she’s been awesome, Christy Fritch (?), she’s over at Belmont. And I think she’s now doing APhA’s student Instagram account, so she’s one of the people behind that now. So she’s been awesome. So yeah, you’ve just got to be able to kind of know what you can do and when you need to bring in other people and make it most effective in that way.

Tim Church: So besides the podcast, I know you’re doing a couple other things for side income. Can you talk a little about those?

Hillary Blackburn: I’ve also done a couple of things, I have a passion for students and love doing precepting but realized that residencies are becoming so competitive, so I hosted two webinars before the residency interview process really got started and charged a little bit for that. But, you know, a reasonable amount for a student. But then put all of that content together into an on-demand, online course on – and that’s available at ResidencyBootcamp.teachable.com. And so that’ll be available next year and the next year. So it’s really evergreen content and at an affordable price. So next year, when students are ready to look at interviews and things, but it’s really applicable for any interview process too. So you know, a lot of those things are transferable. The final thing that I do, and it’s helpful to stay in touch with what’s happening in the retail setting is I’ll still do some moonlighting for a retail pharmacy chain. And it helps to keep me up-to-date on what’s happening in that space. But it’s always helpful to have a little extra fun money for shopping or different things.

Tim Church: Is that where most of the additional income is coming – is that where it’s going?

Hillary Blackburn: Well, so we actually are really fortunate because we do a lot of saving. So we live off of my income solely. So you know, a lot of times, people are living on two incomes and then you add another person, and then you take away an income, and then you’re like, whoa, we’re used to this extravagant lifestyle. So you know, we’ve been really diligent about trying to live off of one income since we’ve been married. But we still love to travel. I mean, we’ve taken amazing trips to Greece, Cuba, we went to Thailand for our honeymoon. We’re always doing some kind of adventure trip, whether it’s even to family vacations to Whistler, Breckenridge, but we enjoy to travel. And you know, doing fun things around Nashville. But we also have a good balance, so having that budget of getting used to living on one income has been really helpful as we’re getting ready for the next phase of life and planning for family and all that kind of thing.

Tim Church: So how do you manage all of these things that you’re doing with your full-time job and personal life? Because I hear from a lot of pharmacists who say, you know, “I’m just trying to make it at my full-time job and keep sanity at home,” with their significant other or their family. What seems to work best for you?

Hillary Blackburn: Well, I really enjoy my job. And so I don’t have a lot of stress from that. But when I am home, you know, I really try to make sure that that part of my life is healthy too. So getting 8 hours of sleep, drinking – you’re supposed to drink your body weight divided by two, like that many ounces – so like drinking enough water, exercising. I’m a big fitness person and love to do triathlons and things in the summer. You know, we don’t watch a lot of TV. So I don’t come home and turn on the TV. Oftentimes, I’m not even turning that on. I’m working on – I’ll make dinner, make sure I’ve had a workout in and have some quality time with my husband and you know, maybe I’m preparing for Bible study or something. But sometimes, it just depends. You have different seasons of life, and sometimes I do feel really busy, like last year, there were definitely seasons – you know, 2018 was a pretty big year for our family, but I think that you’ve got to be able to prioritize and make sure you’re taking care of yourself.

Tim Church: I definitely agree. And I think you hit it there where there’s seasons where you’re going to be really shifted in one direction. And I kind of believe in that mentality. There was a book called “The One Thing” by Gary Keller and Jay Papasan. And they kind of demystified and debunked the myth of work-life balance in that if you try to be balanced in everything, what ends up happening is you basically just become mediocre at all of those things. And sometimes, to really achieve the next level of success that you’re going to be shifting in that direction temporarily. And then obviously, you have to come back in order to maintain relationships and other aspects of your life. But it sounds like that’s sort of the way that, the rhythm for the way things have gone for you.

Hillary Blackburn: I would say so, yeah.

Tim Church: So what advice, Hillary, would you give to other pharmacists and even students out there who have an interest in becoming an entrepreneur?

Hillary Blackburn: You know, I would say stick with it. So you’re maybe not going to find the ultimate success within the first week or six months or a year. It’s going to take awhile, so stick with it and keep working hard, put in that work ethic. Stay hungry. So you know, I think that that term is kind of often used at the Entrepreneur Center in Nashville. You want to stay hungry and keep looking for things. I think if you follow some of the great entrepreneurs who are out there doing some awesome things like Tony Robbins and Gary Vaynerchuk and some of the other ones who you’ve got to follow people that you want to be like. So if there are pharmacy leaders that, you know, maybe you want to own your own business. Well, look at who in pharmacy is doing that. You guys have interviewed a lot of entrepreneurs. Start following some of those guests. What do they do? But ultimately, I think that as long as you’re providing value, that’s key. I think something that I’ve really focused on a lot over the past two years is not only personal and professional development, so reading books, so that lifelong learning is just so important.

Tim Church: Yeah, I was going to ask you, which ones would you recommend that have had a big impact on your life?

Hillary Blackburn: Well, I think one of the biggest ones was “Seven Habits of Highly Effective People,” and the sad thing is that I got this book as a resident and felt like I didn’t have time to read it. And then now in my current role at Dispensary of Hope, we read it – or I read that and then as an organization, we read it. And that was just kind of had so many Aha! Moments. But I now use Audible, which helps to consume more of that content, kind of like what I enjoy with the podcasts, being able to listen to it when you’re in the car, traveling, being efficient. Maybe you’re at a workout, trying to get your workout in and read a book. Some of the other great ones that I’ve read about kind of business or entrepreneurship have been “Good to Great,” “EntreLeadership” by Dave Ramsey, “Outliers: The Story of Success” by Malcolm Gladwell. And then right now, I just finished “Crush It” by Gary Vaynerchuk. And so you know, there’s probably so many more – actually Tim Ulbrich recommended reading when I connected with him the one on – oh! “Never Split the Difference.” So that’s kind of been –

Tim Church: Oh yeah, about negotiation.

Hillary Blackburn: Yes. Yeah. And you know, these are just some of these are like life skills. And so how do you handle conflict resolution? And even like learning more about change management. I think John Cotter is the one that has a couple books out on that. You’ve got to be able to lead, and so any type of books on leadership, I think those are all going to be really helpful.

Tim Church: Well Hillary, it’s been a pleasure having you on the show. And really appreciate you sharing your story and all the things that you’re up to. What is the best way for someone to reach out or learn more about what you do?

Hillary Blackburn: Absolutely, I love getting to connect with other people. So first, the website is www.pharmacyadvisory.com, and there are show notes for any of the podcast episodes there and a sign-up for our email list. So when we do newsletters and things, you can find us there. I have a Facebook page and Instagram account as Talk to Your Pharmacist. And you can find me on Twitter and LinkedIn as Hillary Blackburn.

Tim Church: Great. Thank you so much, Hillary.

Hillary Blackburn: Awesome. Thanks, Tim! It was so fun to get to talk with you. Thanks for having me as a guest.

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