Justin Nabity is the founder of the company Physician Advisors LLC in the financial services space, dealing with a specific group of people — doctors. It is an advisory group for doctors and surgeons that helps them make sound financial decisions, from negotiating contracts to planning for retirement. Justin’s company adopts a unique business model that focuses on capturing doctors’ loyalty early on, by helping them with financial planning before they even realize that they need help. Tune in to this episode to find out more about Justin’s business model, and why having an end goal is crucial. Key Takeaways: [:18] John welcomes his guest for this episode —Justin Nabity [1:06] Justin’s father is an independent business man operating in the insurance market. How did that affect Justin’s desire to follow the same path? [4:03] Justin talks about the the financial trajectory of doctors — contrary to popular belief, they are not rich! [6:02] Doctors take so long to get out of “school,” that when they finally do make it out, they’re in a very different place from other fresh graduates, financially. [8:25] John has found that doctors retire with less wealth than other high-income professions. The reason? Expectations. [10:00] What does Justin do? How did he get into this business? [12:36] Justin recommends a 50-30-20 breakdown of income. How did he create that? [14:42] What is Justin doing with contracts? It’s not about the financial product, but setting his clients up in the right place early on. [19:17] Justin’s business model is based on a concept of “land-and-expand.” Once doctors build that trust with the company in being able to handle their contracts, they tend to trust them more on other financial matters too! [23:46] Even if you are younger than your client, you can sell your accelerated experience when you’re selling what you do. [25:39] Justin has gotten to know his clients really well over the time he has been serving them, and now even travels internationally to make an impact. [27:05] Justin and his team help doctors to get comfortable with the decisions they make about managing their money, which frees them to serve. [27:54] Justin talks about how his company has adopted a different view of retirement. Tip: If you’re not retiring to something, you’re going to die! [31:00] It’s important for your retirement to have a purpose, especially considering that people are living longer and have a much longer time to live post-retirement. [35:30] Was there a point in Justin’s entrepreneurship journey where he thought he wasn’t going to make it? [39:40] Being an entrepreneur is extremely difficult, but also extremely rewarding. [43:55] Justin advises that if you’re considering entrepreneurship, find someone from the Entrepreneurship Organization to take on as a mentor. [46:25] What are some tools and technologies that Justin uses to help him run his life and business better? Mentioned in This Episode: Financial Gravity The Financial Gravity Podcast with John Pollock Justin Nabity on LinkedIn Physicians Advisors The New Retirementality, by Mitch Anthony Halftime, by Bob Buford Entrepreneurs Organization Profit First, by Mike Michalowicz Microsoft 365 Teams Slack YouCanBookMe Acuity Scheduling TimeTrade MoneyGuidePro Riskalyze