Take time for yourself each day to think big picture: strategies, situations, where things are going, and how they all fit into the big picture.
George Scopetta is the Co-Founding and Managing Partner of Medicus Property Group, where he is quickly becoming the largest private investor of medical real estate in Southern California with over 180,000 square feet of commercial medical office space. George owns and manages all of the Medicus Property Group properties as well as his innovative model for retail medical space through his company, WeShareMD, where he leases medical office space at a flexible rate of $300 per hour without a lease or long-term commitment for doctors. George is a noted innovator, entrepreneur and retail developer whose business model is disrupting the medical office space business model which has gained national and local attention from publications including the San Diego Union Tribune, San Diego Business Journal, Physicians Magazine and others.
Prior to forming Medicus Property Group, George was Senior Vice President of a multinational financial institution traded on the New York Stock Exchange. With both legal and accounting background, George has been a trusted advisor and consultant to the senior executive and leadership boards of financial institutions worldwide, including the potential tax implications of various financing transactions and mergers and acquisitions. Mr. Scopetta has significant experience in domestic and international tax planning with various Fortune 500 corporations, working in international tax planning and restructuring as a Vice President of Tax Planning for a Big 4 Fortune 500 financial institution. Mr. Scopetta holds a Degree of Law from Villanova Law School, a Masters in Accounting from Villanova Graduate Business School and a Bachelors of Science from Villanova University. He is an active member of the Pennsylvania Bar.
Where did the idea for Medicus Property Group come from?
I met my business partner Dr. James Chao at a baseball game. He asked me if I wanted to invest in a telemedicine app that was in the developmental stage and I said no. We then kept talking and he started telling me about a medical office building that he had and where he thought healthcare was going in the future. At the time Obamacare had just passed and there were clear signs that healthcare in the country was going to start expanding. Intrigued by the conversation, I extended my stay in San Diego for a couple of weeks and during that time we put together the blueprint of what now is Medicus Property Group, WeShareMD, and Peak Diagnostics. The concepts and dream was easy to come up with the execution is what set us apart.
What does your typical day look like and how do you make it productive?
I wake up at 6AM go for a walk or work out. I am typically in the office by 8:30 and depending on the day I usually have meetings (strategy, growth, expansion, funding) and then most of my paperwork and other items I get done after 5PM and on the weekends.
How do you bring ideas to life?
I am OCD. When I think of a concept or an idea I research it and go through every possible scenario. I will go on the internet and find out how much it will cost to implement, who are my competitors and how I can mitigate the risk. I also evaluate the risk and the reward for each idea. If it is something easy to implement that won’t take much capital. Now that I am more successful, one of the most valuable commodities that I have is my time, so that weighs significantly on making future decisions. Time is a finite commodity so I have to evaluate whether an opportunity is worth my time in pursuing it, because it will take time away from other projects.
What’s one trend that excites you?
One of the trends that excite me is where healthcare is going in the US. Today healthcare is a $3 trillion industry. In 4 years it is expected to be a $7 trillion industry. One of the reasons for the huge growth in the industry is that the cost of providing healthcare is huge and growing daily. WeShareMD has the ability to change how care is delivered and can be one of the cures for helping to lower the cost of care in the industry.
What is one habit of yours that makes you more productive as an entrepreneur?
I think that the most important quality is DRIVE. I am very driven and once I put my mind to doing something I will stop at nothing to get it done. You have to have that drive as an entrepreneur because creating a company is a very difficult process. It’s like being a quarterback for an NFL team. You have to have the ability to forget the interceptions and all the other bad plays and just have the confidence in yourself to get back up, dust yourself off and play another down like nothing happened. There are a lot of ups and downs and it’s important to have the drive and the confidence to keep going.
What advice would you give your younger self?
Have more confidence in yourself. When I was starting my career I was young, uncertain and I took jobs that, while I learned some good lessons, I stayed in those positions longer than I should have. I wish I took more chances, believed in myself and had more confidence in myself as a businessman. I think that when you work for the PwC’s and Deloittes of the world, there is immense pressure to bring you down because they want to keep people working at their firms cranking out hours. I learned, after I left, that there was so much opportunity out there and that often times I was one of the smarter people in the room. It took me time to come to the realization that “hey I can do this” and that is what really set things in motion, at least for me.
Tell us something that’s true that almost nobody agrees with you on.
That the Dolphins will win the Superbowl this year. LOL
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I take time to myself every day to just sit down in silence and think. Sometimes about where things are going, or different scenarios, but I try to focus on the big picture and how recent events play into the big picture. People underestimate taking the time to just take a moment away from the day to day.
What is one strategy that has helped you grow your business?
Never be afraid of failing.
What is one failure you had as an entrepreneur, and how did you overcome it?
I have had so many ideas that have fallen flat. You just have to focus on moving forward see if you can pivot and you can’t be afraid of just moving on if it didn’t work.
What is one business idea that you’re willing to give away to our readers?
My investors would not appreciate this. LOL
What is the best $100 you recently spent? What and why?
I love concerts so I just went to see Dead and Company with the Grateful Dead and John Mayer.
What is one piece of software or a web service that helps you be productive?
What is the one book that you recommend our community should read and why?
I really enjoyed the Steve Jobs book by Walter Isaacson and I am reading Good to Great by Jim Collins. I really like to read biographies about business leaders, but I also loved the Harry Potter books and Robert Ludlam as well so I guess I am all over the place.
What is your favorite quote?
Do not be embarrassed by your failures, learn from them and start again. Richard Branson
- Success comes from fearlessly pivoting through many failures
- Becoming confident in yourself is a key to becoming a successful business leader and entrepreneur
- Take time for yourself each day to think big picture: strategies, situations, where things are going, and how they all fit into the big picture.