A nursing colleague and I want to start our own business, what should our first steps be?

By | 2022-02-15T17:55:11-05:00 March 13th, 2012|0 Comments

Question:

Dear Donna,

A nursing colleague and I are interested in starting our own business. We would like to teach NCLEX review courses and IV insertion courses to nursing students and graduates. I have been a nurse for 25 years and, most recently, a teacher. Could you tell me what our first steps should be?

Julia

Dear Donna replies:

Dear Julia,

Sounds like a plan! There are many things to do to move in that direction, but I would advise you to meet with a nurse attorney to start. He or she can advise you of legal and practice issues related to what you’re planning. Find a nurse attorney by asking around, doing an Internet search or by referral through your state chapter of the American Nurses Association (whether or not you are a member). You also can get a referral from the American Association of Nurse Attorneys (www.taana.org).

Additionally, I suggest that you research other similar businesses in your area or other parts of the country. The Internet is an easy way to do this. Gather as much information as you can from prospective clients and others doing this (your competitors) and those who might need or want your services. This will give you a good idea of the market, what your customers want and need, what the going rates are and how your competitors are marketing.

After that focus on setting up your business entity and office, planning your marketing, looking into financing and setting up a website.

It’s important to get involved in business related associations such as the National Nurses in Business Association (nnba.net) and the National Association of Women Business Owners (nawbo.org). When there’s something you want to do you should start rubbing elbows with those already successfully doing it.

Try to attend one of my upcoming “How to Start Your Own Business or Consulting Practice” seminars for a more in-depth discussion of business basics and beyond. See where I’ll be at http://www.Nurse.com/CEseminars/ .

Best wishes,
Donna

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