Erkeda DeRouen talks to Dr. Navin Goyal. He received his medical degree from the University of Cincinnati College of Medicine and completed his anesthesiology residency at The University of Chicago. After 13 years of private practice, Dr. Goyal went into entrepreneurship and venture capital investing. Currently, he is the CEO and co-founder of Loud Capital.
- [01:57] Why Anesthesiology?
- [03:54] SmileMD and Early Investments
- [07:42] Co-founding Loud Capital
- [14:40] Transferable Skills You Learn in Medicine
- [21:07] Financial Habits to Build Early On
- [23:16] How Dr. Goyal Maintains Work Life Balance
- [25:44] Dr. Goyal’s Advice to Pre-meds and Medical Student
An older student encouraged Dr. Goyal to consider anesthesiology since he was interested in physiology and pharmacology. Upon the urging of his senior, Dr. Goyal had no regrets about choosing anesthesiology for his elective rotation. The procedures and his preceptor made the rotation experience enjoyable. He especially liked that anesthesiologists had to be quick and efficient under time pressure.
From Anesthesiologist to Venture Capitalist
As a full-fledged physician, Dr. Goyal had more time on his hands which he used to learn more about business and investing. He started investing in early-stage startups and continued reading to further his knowledge. As he got to know entrepreneurs, he found their passion so inspiring that he started SmileMD, a mobile anesthesia company.
SmileMD provides access to dental clinics, enabling procedures to be done within a month’s time without having to wait 1-2 years. Dr. Goyal saw how SmileMD was making a difference in the lives of thousands of patients. His anesthesiology practice started to feel unfulfilling in comparison.
Transferable Skills You Learn in Medicine
Even as a medical student, you already have valuable skills you can use in other areas of life. The mere fact that you’re in medical schools means you have the ability to learn and the discipline to achieve your goals. Once you get your MD, you also gain more credibility that can be utilized outside of healthcare.
Dr. Navin Goyal’s new book is called Physician Underdog. Visit his website to learn more and get a free learning template about entrepreneurship and investing for medical students.