Nurse entrepreneurship new ideas
Old rules are being left by the wayside and new ones are being developed. These new rules make nurse entrepreneurship or being a nurse in business full and enjoyable. The goals of this blog are to present new ideas and develop a dialogue to help and support all nurses in business.
Nurses in business old rules
The old rules are rules handed down by well-meaning individuals ranging from large governmental agencies to private individuals who want to make money as a business coach. Most are well meaning, some want to scam, but most are well meaning. The old rules are:
- Determine the type of business to start
- Determine the legal structure
- Write a business plan
- Write a marketing plan
- Present the plan to a bank or other leading institution to obtain startup funding
- Implement the plan
- Obtain customers
Nurses in business new rules
The NNBA has developed new rules specifically for nurses who want to start their own businesses. The new rules are:
- Determine what you are most passionate about in your nursing career and use that idea to build your business. For example, I wanted to change the way emergency nurses were taught.
- You are already licensed (RN) to practice nursing in your state. You can practice under the name on your license and report the income under your name. You can, but you don’t need to start a sole-proprietorship (DBA), limited liability company (LLC), or corporation. I started a sole proprietorship because I wanted to use the name Cocoa Beach Learning Systems. Looking back that was a mistake.
- Design what you are going to provide for services and write a detailed description. For example, I wrote a draft of my book long before I actually looked into publishing.
- Ask for help every step of the way from people who have experience working with nurses and understand which nursing skills can be translated to business skills. Seeking help from the NNBA was the best move I made. I found help at the governmental agencies, but it seems I was constantly translating their recommendations into what worked for me as a nurse.
- Set up your office using hardware and software to keep track of your customers including your income and expenses. I chose the standards used by small business, such as an accounting/bookkeeping system, a relationship database system, and an office suite of desktop applications. Because I purchased the professional editions, I still use the same applications today (with upgrades).
- Keep the business transparent, don’t hide behind company speak and business gobbledygook. Be social, truthful, and readily available.
Please make a comment and tell us what you think.