Thinking About Plan B? - Nurses in Business
It is an exciting time to be a nurse! There are so many options for nurses including owning a business. Although most nurses do not see themselves as entrepreneurs, nurses are educated in a scientific method of problem solving and resolution that equips them for a successful transition into an entrepreneurial role.
It is an exciting time to be a nurse! There are so many options for today’s nurse and one area that is growing is nurses interested in becoming business owners. What is creating this need for Plan Business? Well one thing is that the number of nurses employed by hospitals is decreasing from what it has been for decades. Today, about 58% of nurses are employed by hospitals compared to 68% in 1980. Many nurses, over 30%, report being burned out and highly dissatisfied with their jobs. The dissatisfaction relates to feelings of frustration, being overwhelmed with new technology (equipment and EMRs) and overworked due to higher severity of illness of the patient load. Nurses have high levels of anxiety over jobs being eliminated and potential lay-offs due to restructuring. There is a large number of nurses, 900,000, over the age of 45 looking to possibly reduce hours but not their income. And for many nurses, Plan A no longer serves them or the nurse that they have become.
There are huge demands that can be supplied by the nurse business owner. Elder care services, called the silver tsunami, will only increase through 2030. This demand has a variety of businesses well suited for nurses from home residential care facilities, day care services, non-medical in home care, geriatric case management and geriatric patient advocacy type services and programs. Educational programs for family caregivers, caregiver training programs and respite care. Technology is breaking all kinds of boundaries and nurses interested in health information technology, telemedicine and telehealth have a plethora of choices in independent consulting including Documentation Specialists and RN Medical Bill Auditors. Nurses that enjoy teaching can create continuing education units and become CNE providers in any number of specialties. Public Health education is so critical today as patients are released sooner and sicker from the acute care setting. Home Health Care is booming and Wellness Programs are on the rise especially in the corporate setting. Nurses are Authors, Speakers and Consultants in health, wellness and social settings. In fact we have many nurses that are bloggers, podcasters, columnists and social media experts like Nurse Beth!
If you would ask most Nurses if they see themselves as entrepreneurs I think the majority would automatically say no; but I believe that because they are not seeing themselves clearly. Nurses make great business owners because they are educated in a scientific method of problem solving and resolution. Nurses can think critically, prioritize and organize. Nurses are compassionate, dedicated and professional. While entrepreneurs have their business plan for success, nurses create envisioning the optimal patient outcome. The tug and pull of business responsibilities requires the entrepreneur to wear ten hats at the same time and that is just a routine day for most nurses in a patient care environment! From my own experience, I adapt the Nursing Process and Maslow’s Hierarchy of Needs to every business problem I encounter. I was able to navigate from being a staff nurse at the bedside to being a CEO in corporate boardrooms. I was always happy to tell folks that asked about my business acumen that it was my nursing experience that was the foundation of any success.
Michael Gerber, the author of The E-Myth, believes that every single man and woman has the entrepreneurial instinct, desire and gift. I agree with him. Most all constraints are self-imposed and our assumptions of what a nurse can be must continually be challenged. There are more successful nurse entrepreneurs today than there was a generation ago. There are many role models that nurses have available so they can accelerate their learning curve and talk with other nurses that have succeeded in areas they are interested in. Nurses can do anything and owning an entrepreneurial mindset begins changing the way nurses look at using their nursing experience.
Have you thought about starting a business or are you looking for a unique nursing career alternative? The National Nurses in Business Association (NNBA) is hosting its annual Nurse Entrepreneurship & Career Alternatives Conference October 14-16 designed for nurses that are thinking about starting a business, those already in business and those looking for career alternatives. This might be just the thing to help you set your entrepreneurial dreams in motion.
Last edit by Joe V on Feb 13, '17
Since 1985 the National Nurses in Business Association (NNBA) is dedicated to advancing and promoting Nurses in Business, Nurse Entrepreneurs and Intrapreneurs. The NNBA is the ‘Voice of Nurse Entrepreneurship’ as a result of the active participation and contributions of its richly resourced membership.
Joined Sep '12; Posts: 1; Likes: 10.Aug 17, '16So inspiring! As nurses and (mostly) women, we underestimate our marketable skills and abilities. There is so much untapped potential in nursing. Now more than ever before.
Say Yes! to that entrepreneurial spark-why? Because it empowers all of usAug 18, '16Thank you for this inspiring post!
If you can get through nursing school and advance your career, you already have the skills needed to become a successful business owner. And the good news? You don't have to go it alone.
There are many, many resources available today for those thinking of starting and/or growing businesses, such as the conference mentioned here.
Additionally, if you find yourself lacking certain skills, such as financial literacy (think cash flow statements, balance sheets, income statements, etc.) there are myriad resources available to help you buttress them. Theses resources are often low cost and/or entirely free. For example, local community colleges often have small business development centers designed to help anyone plan, launch and grow a business.
And-- because nursing allows us a flexible schedule-- you don't have to quit your day job. You can "test the waters" to see if there's a market for your goods and services before making any kind of substantial investment.
Where others see problems, small business owners see opportunities in work clothes.
It is indeed an exciting time in healthcare.Aug 18, '16An excellent Conference. Thank you for the Article.
Marketing is the hardest job I have ever had and it is definitely the key to success in owning your (my) business.
Topics during the Nurse Entrepreneurship & Career Alternatives Conference include:
- How to market and diversify your business
An all-important topic that is sure to leave the participant full of ideas on how to enable their business to be a total success.Aug 18, '16I got a Bachelor's in business back in 2014 after an Associates in accounting in 2011, and let me assure you that Nursing school is much, MUCH harder by far! If you are wondering about heading down this path I would encourage you to take a class in business, management, marketing, entrepreneurship, etc to see how you like it. Many communities also have non-profits that you can consult when you are starting a business for advice. If yours does, that would also be an avenue to pursue for ideas and advice.
You will find it a whole lot easier than you might think to transfer your skills. Much of what you do in business and management is based on the same theories of trying to balance pleasing various stakeholders while providing good customer service and managing supply chains, etc.Aug 20, '16The mindset issues have been the toughest part! Of those challenges, accountability is the biggest challenge. Social Media consulting is not my end game, I chose it because it was something I was doing anyway. I am still figuring a lot out as I am going along. I am really happy Michelle and the NNBA is SUCH a supportive resource!Aug 21, '16Quote from TheSocialMediaCoachI agree.......NNBA is a wonderful resource. Are you planning on attending the NNBA conference in October?The mindset issues have been the toughest part! Of those challenges, accountability is the biggest challenge. Social Media consulting is not my end game, I chose it because it was something I was doing anyway. I am still figuring a lot out as I am going along. I am really happy Michelle and the NNBA is SUCH a supportive resource!Last edit by tnbutterfly on Aug 22, '16Aug 21, '16Well as it turned out I needed more than a Laptop to run an Online Business ha! I hope to make it next year .Aug 22, '16Quote from TheSocialMediaCoachDarn, I have to wait to meet you in person?Well as it turned out I needed more than a Laptop to run an Online Business ha! I hope to make it next year .
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