Roadmap For NursePreneurs

We created this roadmap for NursePreneurs who need our help in various stages of business. We have 4 types of nurses who come to us looking for help.

4 Types Of Searches

Exploring

The first phase is about Exploring what entrepreneurialism is and if it is the right path. Just like you wouldn’t just start a career path in the OR without first checking it out.

Searching

The second phase is actively searching for ideas to start a business. We frequently talk about how nursing expertise can become a business model but how? This is the searching stage.

Launching

The third phase is when the nurse is ready to make the plunge and get started. We have many programs to teach nurses how to start specific business models. This is the launching stage.

Marketing

The fourth phase is for nurses already in business who need help with marketing. Marketing is an area that we like to streamline for nurses. This is the marketing stage.

With our roadmap, we lay out how we can help you in each stage. All you need to do is decide which stage you are in!

Get A Copy Of The Roadmap Here.

Exploring

Enterpreneurialism is a specialty in nursing just like critical care, occupational health or academic professors.  It’s not for everyone just like those other specialties appeal to some nurses but not others. How do you know if becoming a NursePreneur is for you? Well, to start I want to dispel some myths about entrepreneurialism is and then tell you what to expect.
  1. Entrepreneurialism is NOT a get rich quick scheme, pyramid scheme, Ponzi scheme etc
  2. Entrepreneurialism is NOT a way to climb out of debt
  3. Entrepreneurialism is NOT a PRN job or something you dabble in on the side like picking up a shift once a month or so when you feel like it
  4. Entrepreneurialism is NOT a job.
  5. Entrepreneurialism is a way to solve a problem
  6. Entrepreneurialism is a way to change the world
  7. Entrepreneurialism is an investment in yourself
Many people are lured into entrepreneurialism with the dreams of pulling themselves out of debt or to avoid financial crisis in their lives.  This is a horrible mistake to make.  How you manage money in your personal life will carry over into business.  If you are insignificant debt in your personal life from spending too much or making poor financial decisions, why would you do anything different in a business account? Your first line of duty is to get your finances in order.  Entrepreneurialism is not a wealth building program or a way to eliminate debt.  In fact, you should expect to spend up to $20,000 in your first year easily.  If you don’t have $20,000 to invest in yourself, then this is not a good venture to go into. The irony of entrepreneurialism is that the people who think they can do it for free or almost zero money are the ones who end up spending the most!  Instead of trying to do everything yourself, it’s important to be strategic with your first $20,000 to make sure you get a business set up the right way the first time. The process of starting out is 1-3 years.  The first year is like your internship or school year.  If you are a critical care nurse, you wouldn’t expect to go to the OR and just pick it up that day.  You wouldn’t pick up extra shifts in the OR because you have no training. Nothing in critical care has prepared you to work in the OR or in entrepreneurialism.  The first thing you need to do is accept that you need to learn some basic skills from a mentor.  The second thing you need to do is invest time and money in your orientation process.  You don’t expect to go to Nurse Practitioner school for free. You invest the time and money to learn what you need to know to be successful.  For entrepreneurialism, that is about a year to learn the business set up process, build an audience and find confidence in your leadership skills. What you need to understand is what entrepreneurialism is, how to identify a problem, how to research an audience, do market analysis and create an offer.  During this year you will need to address mindset blocks and money issues you may have.  You will need to set up finance systems, legal structure, map out a business plan and set the business up. Think of each one of these as a 12 week course.  This is a full time course curriculum! So first and foremost, give yourself a break.  Know that you need time, money and resources to figure this all out. In year 2 you need to really learn how to manage money, manage a team and develop more advanced marketing techniques.  Earlier I said entrepreneurialism isn’t a get rich quick scheme.  The funny thing is we have to teach NursePreneurs how to pay themselves.  They literally forget to pay themselves or they are petrified to take money out of the business. If you want your business to be successful you have to pay yourself, like you would any other employee of your business.  If you don’t pay yourself and you start generating significant revenue, not only will you burn out, but it raises red flags for the IRS. In year 2, you really need to invest in marketing.  What does that mean?  It means you should be building out your network, organizing and showcasing testimonials and reviews, being present in social media or at in person events, connecting with your network, and participating in your sphere of influence. You will literally spend the rest of your business life augmenting the marketing arm of your business.  This is a lot of work!  When nurses tell me they want to start multiple businesses, I walk them through year 2.  Yes it’s easy to put the business set up together.  I can do that in a day or two, I’ve done it so much now.  What is not easy is to manage the marketing for each company.  You see your business is only as good as who you know and your relationships with those people vital to your business. Relationships take work and effort to develop and maintain them.  Not just in person, but with your social media, your content, and your network.  Now imagine doing this for two separate audiences where you have to build two separate marketing campaigns.  It’s exhausting so start with one, make it successful.  When you can automate or hand off the operations, then you can start business number 2.  But you do need a strong team in place to manage business number 1 first. Most people never get to business 2 because business 1 proves to be more than enough to manage and grow. And that is what you do in year 3.  Year 3 should be about scaling to where you want to go.  Now you don’t have to scale.  If you are happy as a solopreneur or operating with a small team, you bring in the money you want, then keep doing what you are doing.  You always have to evolve, so you need to make sure you are delivering what your audience wants and you may need to pivot your business model occasionally to keep up, but there is nothing written in stone that says you have to grow and grow and grow. If you want to, then your business focus in year 3 is about scaling.  Everything will start to change this year because a 6 figure business is much different than a 7 figure business and you will need to adapt to those changes.  It typically means managing a team, bigger and more expensive challenges and things you don’t expect as well. If you want to keep exploring the specialty of entrepreneurialism, we have a few things for you. Go to NursePreneurs.com/roadmap/exploring.  Here’s how we can help:
  1. Watch the videos we created to help you understand what is required for entrepreneurialism
  2. Read the blog posts we curated for you
  3. Join our free Nurses in Business Facebook group
  4. Consider joining the NursePreneurs Network Membership, which is a community of like-minded nurses in all stages of business.

Searching

If you are convinced that entrepreneurialism is for you but you’re not sure about the business model or the problem you are solving then this is where you need to start. 

In order to start a business you must have a problem and an audience who is willing to pay for the problem to be solved.

All successful entrepreneurs start out by solving a problem, not chasing money.  They see a problem or they experience it and determine it needs to be solved.  The key here is that the people with the problem have to be willing and able to pay for the solution.

What do I mean by that?  Well there are lots of problems in the world, but they don’t all carry the same weight or sense of urgency.  I may have problem A, but it’s not significant enough in my life that I would be willing to pay for a solution.  Or it’s not pressing enough that I want to pay for it right now. 

If your solution would be nice to have but people aren’t willing to pay for it, then you have a hobby that you can indulge in but not a business.  For instance, it would be nice to have pretty murals on stone walls in the neighborhood, but the neighborhood association is not willing to pay for it.

Your audience also needs to be able to pay for your solution.  While it would be great to offer healthcare to the homeless, you can’t expect them to pay for it.  You cannot start a business and offer it to people who can’t pay for it.  You can search for other payor sources, but if there are none, then the business doesn’t exist.  You can volunteer your time of course, but this is also not a business.

Entrepreneurialism is ultimately an investment in yourself.  You find the courage to acknowledge a problem and commit yourself to providing the solution.  This is not a linear process, it requires personal growth, constant learning and an unshakeable belief that what you are doing is important.

If you have that drive to become an entrepreneur – you know that restlessness inside you that you are meant to do something more – but you aren’t sure what you can do, then you are certainly on the right path!

All you need to do is find a problem to solve, and you’ve come to the right place!  This is one of our specialties – helping nurses to find problems to solve and put them into a business model.

Go to NursePreneurs.com/Roadmap/Searching.  Here’s how we can help

  1. Read the blog posts and definitive guides we created for you to find ideas
  2. Listen to our podcast episodes to hear the amazing businesses other nurses have started and what it took for them to become successful
  3. Join one of our mini courses to find and validate your ideas
  4. Definitely join the NursePreneur Network Membership

Launching

Once you know what type of business you want to set up, then it’s just a matter of taking a leap of faith that YOU can do it.  There are many mindset blocks along the way here, but we know that and we are prepared for it. All our programs have mindset coaching built into them.  It’s important because 99% of business problems are personal problems. We provide the step by step process for setting up your business and provide coaching to keep you moving forward. If you are in this stage, we have a few programs to consider. First we have self paced, on-demand courses that will provide you the information you need to be successful in business.  Second we have 1:1 and small group coaching to help you push through the obstacles of setting up a business.  Third we have a done for you service that set the entire business up for you. As with anything, there is a direct correlation between time saved and money spent.  So let’s take a look at what that means. The on-demand, self paced courses are packed with information you need to start a business.  They generally come with a private community where you can ask questions to the group, but there is no personal coaching.  The courses have been vetted, taught and proven to work.  These courses range from 4-12 modules and take you as long as it takes for you to get through all the material.  These courses range from $99-$1497. The small group and 1:1 coaching programs provide guidance through the course material.  You have a coach who is working with you in small groups or 1:1 depending on the program you choose.  Many of our courses such as IV Hydration or Concierge Nursing offer both options – on demand or group coaching.  These programs vary in price from $1997-$10,000.  Most of our group coaching programs fall into the $1997-2500 range.  1: 1 coaching is very intense and will move you through business obstacles quickly, but it also a much bigger investment upfront in your business. Finally, our done for you model is where you tell us what business you want to start and we set it up for you including the marketing strategy.  This is a 4-month service that will literally take you from idea to paying clients in record time.  You do need to participate a few times so that we set up the business of your dreams, but ultimately we do all the work for you.  This program starts at $20,000.  This seems like a lot, except most new entrepreneurs spend as much money trying to figure out what to do in the first year before they get on the right track.  Imagine paying one fee and coming back to a business that actually has clients 4 months later… Ok, so what to do next?  Well let’s launch that business of your dreams. Go to NursePreneurs.com/roadmap/Launching.  Here’s how we can help:
  1. Check out the programs we currently have available
  2. Read the blog posts about the various programs
  3. Join the program that works best for you

Marketing

If you already have a business set up, then first and foremost – Yay! Congratulations…

You will remain in the Marketing stage for the rest of your business life.  The nice thing about setting up a business is that it’s a one and done type of deal.  You may tweak and change your business, but you don’t have to set up your legal structure and finance systems each month, you don’t rewrite your standard operating manual each week.  It’s done.

But you do have a lot of work ahead of you.

This stage of business is wrought with all the major mindset blocks, challenges and frustrations.  It is also the most expensive part of running a business.

But.. it’s also where you will have the most fun and opportunities you could never have anticipated will open up to you.

This is the most exciting part of your business journey.  What will you do?  Who will you help?  What will come your way?

Now getting started in marketing is more often than not a slow process.  Anticipate a good 6 months of marketing before you start to experience any momentum or consistency.  This is the norm, of course there are exceptions.

Also be aware that marketing is the most time consuming part of your business because it deals with people and building relationships.

You can do this on a shoestring budget, but you must have the time and persistence to keep it up.  You cannot have one interaction with a potential client and expect to make money.  The higher your price point, the more points of interaction you need to have.

You can outsource your marketing, but you need a LOT of funds to do that.  Most people cannot afford to outsource all their marketing.  And to be honest, I don’t think you should.  In the beginning the most valuable asset you will have are the relationships you curate.  You have to make the effort to build these relationships first.  Once you have a foundation, then more relationships will come to you more easily and can occur in a more automated fashion.

At NursePreneurs we’ve been carefully and slowly creating marketing plans that work.  We also know that marketing is a massive umbrella term that literally incorporates thousands and thousands of tactics and strategies.  It’s overwhelming and very daunting.

What do you do first? What is most important?  Many marketers will tell you if you just have this one thing you will make all this money.  They present a compelling case for their one thing and the next thing you know you’ve spent $20,000 in marketing that has gotten you nowhere.  Yes this is my expensive lesson.  It was more than $20,000 but I don’t want to embarrass myself too much here..

One of the most valuable lessons I learned was that my most important marketing was right in front of me – my relationships with other nurses in business – and it was free.  Once I realized the potential of working with others, then it became apparent what tools, software and marketing tactics I needed to spend time and money on.

Another very valuable lesson I learned from Chet Holmes was the concept that marketing can condensed into 7 main categories.  We use these 7 categories to make solid (yes a little boring, but highly effective) strategic marketing plans that generate revenue.

What are the 7 categories (also known as the 7 Musts of Marketing)?

  1. Personal Contact
  2. Direct Mail
  3. Collateral
  4. Internet Presence
  5. Market Education
  6. Public Relations
  7. Advertising

We strongly encourage personal contact and internet presence for all new NursePreneurs.  We avoid advertising until you have a proven marketing system.  Paid ads can bankrupt you very quickly if not done properly or with a specific objective in mind.

We have put these strategic marketing plans into bundles to help nurses step by step.  We can now offer nurses 2 levels of service depending on what they need (we teach you to do it or we do it for you). 

Go to NursePreneurs.com/Roadmap/Marketing.  Here’s how we can help:

  1. Design services
    1. Websites (starter, custom, e-commerce and membership sites)
    2. Collateral (logos, brand boards, business cards, e-book covers, slide decks and more)
  2. Marketing
    1. Lead magnet funnel
    2. Automation
    3. Social media and lead generation
    4. Content strategy
    5. Paid ads
  3. Sales
    1. Cold calling
    2. Sales funnels

This is your roadmap for NursePreneurs and how we can help you. 

Our philosophy is driven by the belief that there is a right way to lay down the foundations of a business.

We believe in organic methods done in the right order with the right mentorship.

We believe nurses are perfect for entrepreneurialism and need to be exposed to this specialty as an option to further their careers.

We also believe that nurses should come into this specialty for the right reasons – to solve a problem, to make an impact, to change the world.  Anything less than that will not bring a nurse the joy of owning a business.

To that end we encourage those nurses who feel compelled to start their businesses to find out how we can partner with you to make this a huge success!

To your success!

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