You pour your heart and soul into your private nursing business. From staying up late at night chatting with your clients on social media to attending events for networking, starting your own private nursing business takes an immense amount of time and dedication.
But what are nurse practitioner entrepreneurs to do when they are not seeing the business growth they need to sustain their startups?
They say that lack of planning is the root cause of most failures, so what does that mean for a private nursing business startup?
Turning business ideas for nurses into profitable companies does not happen by chance. The best way for nurse practitioner entrepreneurs to profit from self employment ideas for nurses is to have a solid private duty nursing business plan.
But before we get into nursing business plan ideas, let us first explore some profitable and realistic self employment ideas for nurses.
Profitable Business Ideas for Nurses
There are a million and one good self employment ideas for nurses outside of the hospital setting. Here are some of the top business ideas for nurses that nurse practitioner entrepreneurs are turning into successful six-figure businesses:
- IV Hydration
- Concierge Nursing
- Private Duty Nursing
- Chronic Care Management
- Cannabis Consulting
- Health Coaching
- Legal Nurse Consulting
- Healthcare Staffing Agencies
- Professional Patient Advocacy
- Healthcare Copywriting
How To Know if Your Private Nursing Business Ideas is a Good Idea?
Are you an RN or nurse practitioner entrepreneur with other (not listed above) business ideas for nurses?
There are a wide range of business ideas for nurses out there–more than you likely know! However, not all self employment ideas for nurses are good business ideas for nurses. So if you are looking into starting your own private nursing business, then check out this simple guide that will help you know if your idea is actually a good idea:
- It’s Unique
Good self employment ideas for nurses are unique. So when you are first setting up your business, you must ask yourself if your idea is just another private nursing business or if there is an actual need for the unique services you will provide.
The more unique the idea, the less competition you have. Keep in mind that good self employment ideas for nurses should not be so unique or niche-specific that it excludes potential clients either–your business must also be relatable!
- It Solves a Problem
Profitable business ideas provide solutions to everyday problems. So if your business idea connects the dots between a problem and a realistic solution, then you likely have a good business idea on your hands.
- It’s Simple
Good self employment ideas for nurses are easy to understand–simplicity is your friend! The best business ideas for nurses are simple and straightforward. But how do you know if your idea is straightforward?
When explaining your business to new leads, friends, or investors, it should be easy to digest. If you find yourself rambling on and on or unable to effectively communicate your business idea, then it is likely that your business idea needs to be simplified for clarity.
- It’s Interesting
Smart business ideas for nurses create intrigue. When you are explaining your idea to investors or leads, are they interested in what you are saying? Or do you find that people tune out when discussing your business?
There is no golden rule or guidebook to follow when it comes to determining if self employment ideas for nurses are interesting enough to hold someone’s attention, but nurse practitioner entrepreneurs should be aware of how people respond to their business ideas and be open to constructive feedback that can improve their prospective private duty nursing business plan.
- It’s Your Passion
At the end of the day, nurse practitioner entrepreneurs need to ask themselves if their business idea is their passion. The beauty of starting your own business is being able to do something that you actually love. If you are not passionate about your business idea, and it is just a way to make more money, then you probably should choose another idea that you are more interested in.
Private Duty Nursing Business Plans
Once a nurse practitioner entrepreneur has pinned down the best private nursing business idea for them, it is time to create a private duty nursing business plan. Having a sound nursing business plan is key to owning and operating a successful private nursing business.
Your private duty nursing business plan can make or break you, and it not only impacts your business’ success, but it may be the main reason why your private nursing business is NOT getting clients.
So if you are struggling to put together a sound private duty nursing business plan, or you have not even attempted to create a business plan, then check out these nursing business plan ideas/tips that can help you create a bullet-proof private duty nursing business plan:
- Find a Private Duty Nursing Business Plan that Works for You
There are several ways to write a business plan, and guess what? There is no right or wrong way to do it! When you are formulating your private duty nursing business plan you need to make sure that your plan matches your needs. If you need an extra hand or some inspiration finding nursing business plan ideas, then do a quick web search.
- Keep Your Audience in Mind
You may think that your business plan is about you and your business, but it is actually all about your clients and investors. When mapping out your business you have to be clear about where your business is headed and how your business is solving a realistic problem that will keep clients coming to you for more. No investor wants to waste money on a private nursing business that does not have a clear button-line, so keep your audience in mind when drafting your plan.
- Jot Down All Your Thoughts
Your business plan is a living and breathing document that should change and evolve as you fine-tune your business. In order to best create an effective business plan jot down all your thoughts and ideas about your business before they slip away. Not all thoughts will lead to business-altering realizations, but you never know when you will get that inspiration that will forever change your business for the better.
- Be Conservative With Your Claims
One of the biggest mistakes that nurse practitioner entrepreneurs make is overshooting with their claims in their private duty nursing business plan. The best way to be conservative with claims is to aim low with estimates and hope for the best. You do not want to promise high performance in your first few years and then have to backpedal when your business does not perform as expected.
Other Reasons Why Your Private Nursing Business Isn’t Getting Clients
While having a solid private duty nursing business plan is essential to your business’ success, there may be some other reasons why your private nursing business is tanking, such as:
- Bad Custom Service From Employees
If your business includes the help of one or multiple employees, then you need to be conscientious about how your employees are interacting with your clients. As the face of your business, your employees must display professionalism and deliver unparalleled service to your clients.
If this is not happening in your private nursing business, then you may need to do some TLC behind the scenes to address customer service issues OR you may need to find new employees altogether.
- Costs are Too High
Are you constantly going over budget? Do you find that your budget keeps getting bigger but your customer base remains the same? Do you even have a budget in place?
If you are having trouble sticking to your budget, or coming up with nursing business plan ideas that actually work, it may be time to consult a professional for business and accounting advice.
- Too Much Competition
If your competitors keep beating you out, then you need to step up your game when it comes to marketing and networking. You may even need to target a different audience, or adjust your services to compete with other private nursing businesses who offer similar services.
- Poor Customer Reviews
The majority of poor customer reviews result from poor service experiences. If you keep receiving bad reviews, then you need to look inward and see what you can do to improve your company image and customer service skills.
You can also combat bad customer reviews by tackling them head on and responding to concerns right away.
Get Your Business Off the Ground
If you are struggling to get your private nursing business off the ground, then it may be time to give the professionals a call. At NursePreneurs we are here to help RN & nurse practitioner entrepreneurs get their businesses off the ground by providing them with a blueprint to business success.
From the inception of business ideas for nurses to the birth of profitable businesses, we are here to support nurse practitioner entrepreneurs in each step of the journey. Book a discovery call today to learn more about nursing business plan ideas that will take your private nursing business to the next level!