Business Planning and Support - page 2
by nightingale 12,622 Views | 19 Comments
HI there to all: There have been many of us who have inquired with how to start up a business; for most, I suggest writing a Business Plan. This post will hopefully organize some of that questioning and answering. Why... Read More
- 0Feb 23, '06 by nightingaleQuote from liebling5Thanks. and I do hope the info continues to be shared and developed amongst our members on this board. What we share here is free; there are so many "out there" wanting to make money off of Nurses when we can make more of the profit by being our own business manager etc... Knowledge is power.I just wanted to say "Thanks" for putting the nurse-entrepreneur info here. I am new to registered nursing, but not new to the dream of owning a successful health-oriented buisness. You (and other posters) have listed some extremely helpful resources.:angel2:
"Heres to the conversations staying alive"!
- 0Jul 29, '06 by nightingaleHi Susan:
Thanks for reminding me about your books on Health Care Finance. A simple google search (of Susan Penner) will show you the information on our posters books. I have not read them myself but all is helpful in understanding the complexity of Health Care and Business Entrepreneurship.
Here is a link on AllNurses of a former conversation:
I have read other books that were fair in reading information. My most helpful suggestion is to find local support through either the Better Business Association or some similiar Business Support Organization. Often you can council with other Entrepreneurs who can steer you in the right direction. Hopefully, this will lead to writing a Business Plan. Last, but not least, please share youe experiences and enthusiams here on our AllNurses Nurse Entrepreneurship Forum.
- 1Jan 9, '07 by sirI AdminOne of the first steps one needs to take is to decide what type of business one wishes to develop. Then, start a business plan - complete with short term and long term goals.
PLAN 1: The Business Model
As for the business name, just start pitching names. Write down several on paper and talk them up.
Here is a link to FAQs regarding the small business:
Small Business related FAQ's
business - Answers to Your Startup Legal Questions
Some of the questions/answers may apply to you. You can, once you've decided to start a business, seek out a business planner (attorney/CPA) to assist you.
Incorporation? A big decision as well:
Should I incorporate my business?
BlueSuitMom.com: Money: Legal - Should I Incorporate My Business?
LegalFilings.com, Incorporate, Incorporation, Incorporation Services
I knew what business I wanted to start and just took the plunge. Came up with a name, started a mail merger of business contacts, created business cards/letterhead, created a website, developed/created/printed newsletters, developed a logo, incorporated as LLC, etc.
We all have much to consider. I wish ya'll much luck with each and every business. If I can be of assistance, please do not hesitate to contact me via private message and/or post here.Last edit by sirI on Aug 30, '07
- 0Jun 3, '07 by liebling5In Fall 06 semester, I wrote a term paper on Nurses in Business. There's a website I came across called http://www.nnba.net/. It's the National Nurses in Business Association. The President of that org has a wealth of info on what businesses nurses tend to go into (or at least members of the assoc). There is material one can get from them that allows for CEU's! I found some other resources by googling "nurse entrepreneurs". I located several articles in Nursing Spectrum that pertained to nurses in business, including several nurse-inventors. You can PM me if you'd like more info.
Nightingale, you might have heard of NANMT, the National Assoc of Nurse Massage Therapists. That is a very interesting specialty. I've done some studying to learn more about it. In fact, I'm bringing MT to our night shift. Nurses tend to ignore their own needs for healing, plus night shift staff has precious few resources. I'm putting the two together to improve retention on nights.umpiron:Last edit by sirI on Jun 3, '07 : Reason: Removed invalid NNBA dot com link/inserted NNBA dot net
- 0Jul 3, '08 by yamiarn2Quote from nightingaleHI there to all:
There have been many of us who have inquired with how to start up a business; for most, I suggest writing a Business Plan. This post will hopefully organize some of that questioning and answering.
Why organize your business?
Starting and managing a business takes motivation and talent. It also takes research and planning. Although initial mistakes are not always fatal, it takes extra skill, discipline, and hard work to regain the advantage. Take time beforehand to explore and evaluate your business and personal goals, then use this information to build a comprehensive and thoughtful business plan that will help you reach these goals.
Developing a business plan will force you to think through some important issues that you may not otherwise consider. Your plan will become a valuable tool as you set out to raise money for your business, and it will provide milestones to gauge your success.
--- The above was copied from this link:
What is a Business Plan?
A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions.
------ I took part of the quote from this Internet page:
Gaining support for your business is as easy as contacting your local Chamber or Commerce or Small Business Association. We are truly supported and in all aspects of the government.
Here is a quote by President Bush:
Wealth is created by Americans – by creativity and enterprise and risk-taking. But government can create an environment where businesses and entrepreneurs and families can dream and flourish.
---------Our government not only encourages us in these endeavors but supports us greatly with free and minimal fee resources.
------I took the NxLevel course offered in my community. The type of offering may vary in your community but the support is similar. As you can see from the above links, the Small Business Association is supported by the US Government and has invaluable links on the Internet. Here is their Home Page:
----- My particular NxLevel course, a 12-week curriculum, was an important way to begin my pursuit of Independence in Nursing. At the time, the NXLevel Entrepreneurship Class was offered. To be honest, I do not remember the fee, but it was below $ 100.00. I could not be doing what I am doing today, without their support. I took the course through The Local Chamber of Commerce and the Small Business Association. Here is a link of the course work description:
The Internet group SCORE has been mentioned on this BB by several posters. Here is a link to their website:
I am hoping others who have used their services will comment further. I know they offer many free services in counseling small business by their varied expert volunteers via the Internet and local area (where available). Additionally, I have seen services, such as setting up a Corporation, offered via the Internet at a competitive fee. Any comments here from those who have used SCORE?
------ Well now, that's a decent start up for discussion or comments. Any positive comments, regarding starting up a business or pursuits in mainitaining a business, are greatly appreciated.
AT LAST - after untold hours looking for just this type of information..... Very very helpful and packed with good information. Thnaks!
- 0Jul 3, '08 by yamiarn2Nurse Entrepeneur/Independent Conrator
I have been digging in the net for a few months now seeking information on these topics and just discovered your forum. It is wonderful! I recommend a site by the Association of Independent Nurse Contractors. www.independentrn.com. I have just requested their information packet. Membership permits one to join a forum of other entrepeunurial nurses and I think it could be invaluable.
I am working for a staff agency, love where I work, love that my schedule is convenient for me. The agency staff that I work with are friendly and very, very nice. The drawbacks - I do not like getting cancelled since I need the $$$. I wish I had health insurance but can't afford it on my salary.
I need more income!
I have no ambition to have a staffing agency but want to be a mini-agency of One! I am finding the information in this particular forum to be so helpful. I did not think of everything! And you have given me a set of tasks and actions that I need to work on. My ex-husband had his own business and I did all the office and book-keeping/tax stuff so I am somewhat familiar with the effort and costs of doing business.
I am familiar with NSO for malpractice insurance. Do you recommend other companies to check into?
Is my idea of being my own "agency of one" a feasible one? I expect to be treated like a staffing agency - given a list of avaiable shifts needing to be filled (with yours truly filling what I can) realizing that I can be cancelled just like any agency nurse. I anticipate I need to talk with the HR department or whoever authorizes agency contracts. I ask the billable rate that I deem desirable ( a better hourly wage with the extra costs of business added on).Since I am not interested in hiring others - I NEVER want to have employees!) I am expecting costs to be:
FICA/workman's comp/extra soc sec payments etc
my recerts in ACLS, costs of CEUs
various self-employment taxes
accounting and legal costs
What am I leaving out?
Looking forward to hearing from you. Thank you in advance for any help and ideas you can offer.
- 0Aug 5, '08 by aednurseI just joined this site too bad I did not do it several months ago.
Your last paragraph hit home hard.
I was going to partner with another company for a hugh contract they asked questions, innocent I thought, but not so they took my information & replaced me with themselves. My bad, no more giving out how I do things within my business.