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Will economy hurt business?



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Dec 02, 2008 09:40 PM

Will economy hurt business?


This is just a topic for discussion. I've started a staffing agency that primarily recruit and place NPs as well as RN, LVNs, and CNAs. I haven't felt the heat yet from the recession but I know some business owners that have in other industries such as retail. Have any of you started a healthcare basee business and are being affected? What are your thoughts?


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6 Comments
No. 1
Old Dec 02, 2008, 09:56 PM

Default Re: Will economy hurt business?
For me I am actually finding more opportunities for contracts because often times a business may scale back on their staff and then realize they scaled back too much. Rather than hiring a W-2 employee they sometimes would rather work with an IC. It can save them money in the long run (obvious payroll taxes, insurance, retirement benefits that they don't have to pay). Also, there's no real obligation to keep you on aside from the contract or initial agreement you make.

In your case you may have a few ups and downs with facilities, but I truly believe that there are many opportunities for us to thrive out there. Even if the facility is "stepping back" temporarily to regroup and assess their staffing and financial situation, it won't be long before they realize that they just need nurses and those spots have to be filled. Gaps in their services by not having enough staff is just lost revenue for them. Not to mention disgruntled employees who are exhausted by picking up all of the slack. It can't sustain, which is why your business should do just fine.
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No. 2
Old Dec 02, 2008, 10:31 PM

Default Re: Will economy hurt business?
Thanks for the post. That's how I saw it as well. Are you an IC or agency owner?
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No. 3
Old Dec 03, 2008, 09:44 AM

Default Re: Will economy hurt business?
I own my business which incorporates a few different specialties (case management, wellness coaching, corporate wellness). I also contract myself out under my corporate entity. If a contract/job comes my way that I don't have the bandwidth for or is just out of my range of experience, then I would hire an IC to do the work.

I am actually just starting to do some research on becoming an agency. I have been in business for more than a year now successfully, but always looking to branch out. This will definitely be different than what I am doing now and I plan to keep my corporate entity, but develop a "new" organization under this with a new name and corporate identity, essentially a brand name for the agency for marketing/business purposes.

I am always on the look out for good resources on providing this service. I am still in the business planning phase on this one. How long did it take you from plan to up and running on this one? Also, are you temp or permanent placement?
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No. 4
Old Dec 06, 2008, 12:19 AM

Default Re: Will economy hurt business?
I would like to hear more about wellness coaching..and how did you get your first client?
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No. 5
Old Dec 07, 2008, 09:49 PM

Default Re: Will economy hurt business?
Just check out my post in the other thread.

Don't force yourself on anyone, but be sure to talk up your services and just sell yourself without direct selling so to speak. I truly care about the well-being of others and I want that to come through in the conversations I have with them.
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No. 6
Old Dec 11, 2008, 09:08 AM

Default Re: Will economy hurt business?
Offer a complimentary coaching session to people you know. At the end of the coaching session ask them if they found it to be beneficial and if they would like to contract for further coaching.
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