HOw To Start YOur Own Business - page 3

by nightingale 22,935 Views | 27 Comments

Let's talk about this. How did you get started? This is what I did but there are many ways to get started and get info. As for me, I started with researching, asking, searching the internet, and joining the National Nurses In... Read More


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    I can't really speak with any authority on this from the IC route, although I've established my own business, because I haven't gotten any contracts yet. I've pursued one that didn't pan out, and intend to follow up on some leads in the next week or so.

    However, speaking from the perspective of an ex-floor RN that switched to Float Pool/Per Diem and is making 25% more than I could as a regular floor RN -- yeah, the hassle and expense of getting your own insurance is worth it.

    What you have to take into consideration are the benefits that your employer provides, which may not be as phenomenal as you think they are. Mine actually *is* pretty good, but the ones that I use (health insurance, dental insurance, disability) are the only ones that concern me -- I can eventually contribute to a retirement investment plan (I didn't use my employers, either, I have to pay higher interest bills first) and I have no interest in employer-paid education at this point. As an IC, you can deduct *totally* (as opposed to percentages) the cost of your health insurance and disability, and your CEUs -- including any travel that you may have to do to obtain them.

    You have to be prepared to purchase the health insurance coverage that you actually use, in order to get the best deal. Do you really need a plan that will pay for unlimited MD visits, with no deductable, and unlimited Rx meds with $5 copay? If you don't, you can easily save $200 month with a plan that will probably cover what you actually use and will cover hospitalization that you might need.

    It isn't hard to do, either. You call an insurance agent that advertises that they handle health plans, or you can contact Blue Cross, Kaiser, Healthnet, etc -- probably by doing a web search right now you can get an idea of what it costs.
    Last edit by sirI on Jan 26, '08 : Reason: removed website address
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    I am in the beginning stages of starting my own business. I do have a website and have sent numerous pamphlets out in the mail. My problem is that I moved here four years ago and have mainly worked in hospitals and education. Where I lived before, I was a known troubleshooter for LTC facilities but my name is not known here. I have worked as a RN supervisor and CNA instructor in this area as well but just PRN and part time.

    In checking out how to get my website into search engines, it is costly. I was wondering if anyone had any suggestions? I am now a professor and plan to offer some inservices to the community to get my name out....

    Thank you in advance,
    Barbara
    Last edit by sirI on Jan 26, '08 : Reason: removed name of business
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    To: CMyst
    Very well done. You are an inspiration and I wish you much success. Just hang in there and you will have more contracts than you know what to do. You just need to educate prospective clients about your services and get your name out there.
    It can take a while until things start taking on a life of their own, so don't get discouraged. It usually takes a good two years when starting out to get busy.
    Looks like you are doing all of the right stuff.
    Good job
    Last edit by sirI on Jan 26, '08 : Reason: removed reference to edited post
  4. 0
    Wow, thanks TouchRN!

    I have to give my significant other (at my age, "boyfriend" sounds so hilarious) the credit with help with business. Well, at least 70% of the credit. Thanks for the encouragement!
    Last edit by sirI on Jan 26, '08 : Reason: referenced edited post
  5. 0
    I would like to know more about this business.
    Thanks.
  6. 0
    Wow...my business has been supporting me for 5 years now! I guess I can consider it a success. I'm still working as much as I want, but as I'm aging...one or 2 shifts a week is all I want, and it still pays my bills
    Last edit by sirI on Jan 26, '08 : Reason: removed name of business
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    Quote from Wa State RN
    This is in ref; JNJ-----I am a independent contractor and am contracted on a tele floor. I have been doing regular agency for 3 years now and then just went independent. It is amazing how much you get for tax write offs. My company doesn't take taxes out, so the $45.00 an hour is what I get, then I get overtime for anything over 8 hours in a day. It adds up quickly!! I have worked lots of overtime and the hospital doesn't seem to mind at this point (sometimes I do 4-5 doubles in a pay period). The money is all mine. I have paid off lots of bills and it is a wonderful way to have a "business" of your own. We are going on vacation this summer and it is all going to be written off, part of the "business", the hotel, the car, the flights, food. You do have to have a good accountant. I only pay $250.00 to mine, he works with the company for all the Independent contractors so he knows the laws. I have made more money in my 13 week contract then I have in most years!! That is no joke!! I really encourage RN's to do this. Remember one thing, you are not an employee and you have to furnish your own malpractice insurance. good luck to all!!!!!
    Washington State RN, where do you live? I would also like to work as an IC, but the hospitals here are not interested. PM me, when you have a chance. Thanks!

    Lindarn, RN, BSN, CCRN
    Spokane, Washington
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    You definitely need a business plan no matter what size your business will be. You can google one page business plans and use that as a guide. A business plan is just that, a guide to give your business shape and direction.


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