Self-employment is not for all nurses. Ask yourself several questions and answer them honestly to determine if self-employment is right for you. Don’t spend too such time on the questions below, just answer yes or no quickly. The yes answers indicate that chances are good that you will be successful in your business venture. If…
Starting an RN owned business is like starting any small business in America. There is the service side (the products or service you provide) and the business side. Most likely you are very knowledgeable and skilled at providing the service. However, you’re probably not skilled or knowledgeable on the business side. I recommend that you…
Healthcare risk management (HCRM) is a non-traditional RN career track and all the buzz among nurses looking for self-employment and/or business ownership opportunities. The National Nurses in Business Association (NNBA) has partnered with the Florida Institute for Health Care Risk Management Education who offers an affordable and high-value course in HCRM. The course qualifies registered nurses for eligibility…
Question I received: I’m burned out. I am a 52-year-old RN. I want to be self-employed or own an RN business. Can you help me or point me in the right direction to come out of the labor force and be my own boss? My answer as published in RN Magazine: Your story is similar…
Business startup financing is a complex issue if you look at all the types of businesses in the U.S. However, most nurses start and operate a consultancy; a service or firm that offers some type of consulting service. The service may provide advice, opinions, information, or instruction. Legal nurse consulting is an example of a…
To meet your potential customers and introduce your services to them, consider speaking at clubs, organizations, and board meetings where your potential customers meet. Provide health information of interest to them. This is not a sales talk. It’s an an informational talk and an introduction to you and your services. Offer to present a short…
Are you planning a new career path as a self-employed nurse (full or part time)? If so, your federal income tax on that income needs to be estimated and paid quarterly. Don’t wait to report your self-employment income at the end of the year. If you don’t file quarterly, you may be responsible for back…
To increase the chances of survival in this difficult economy, I recommend that self- employed nurses become a one-stop shop. By one-stop shop, I mean offer several different services that are needed by your target customers. I recommend that new startups incorporate several services at onset and established nurses add services to their current business.…
Legal nurses provide support to legal professionals, such as lawyers and insurance adjusters. In the past, only physicians were hired to give opinions on merit based on the standards of medical care, but nurses now determine merit and adherence to the standards. In the early 1970s, insurance companies seeking to reduce their expenses, hired medical teams…
Transitioning from employment to self-employment or business ownership can be difficult. The path is filled with roadblocks—some of which are mindsets developed throughout the nurse’s education and practice. These mindsets can lead to delays and eventual rejection of the idea of working independently. When I wrote the book, Self-Employed RN: How to Become a Self-Employed…
Price fixing is when prices are set in advance rather than by the free market. It is illegal. The crime of price fixing is subject to federal prosecution by the Antitrust Division of the U.S. Department of Justice under the Sherman Act of 1890. The general rule is that vendors (providers of products and services)…
As my friend Dan Poynter asks, “Do you have a book inside you?” Nurses have many stories to tell, and experience and knowledge to share. Writing a book may be just the thing for you. It was for me. I was working in an emergency department in central Florida when I decided to take the…
Find where your potential clients gather and offer to present a short (about 10 minutes) talk to the group. For example, if the group is primarily males, subjects like when to go to the emergency room with chest pain or how to find out if you have low T may be of interest. During vacation…
When you send an email, do you assume that the reader actually reads your email? That may not be true. I’m talking about your everyday business and personal communication, not emails sent to advertise your products. Your email may be lost among the hundreds most of us receive each day.
I’m asked frequently if a nurse really needs to write a business plan. The simple answer is no, you do not need to write a business plan unless you are applying for funding.
What is errors-and-omissions insurance, do I need it, and where can I buy it? Errors-and-omissions insurance is professional liability insurance and protects you in case you are sued for financial damages resulting from an error or omission in your work. I recommend that you purchase it. You can purchase the insurance at http://www.nso.com.
Based on the fact that nurses are part of the general population, one could assume that one in every 8.4 nurses might have an employment disability. If that is true, 291,548 nurses are affected. When I was asked to write an article about nurses with disabilities, I sent an email to my email list and…
Fair market value of nurse consulting services I am often asked by consultants, “How much should I charge?” and from healthcare facilities and attorneys, “What is the fair market hourly value for nurse consulting services?” The objective of this blog is to offer a fee formula to answer those questions and at the same time,…