Ten Reasons To Start A Business: INS Episode 01

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On today’s inaugural episode of The Innovative Nurse Show, I start the conversation about some of the reasons to actually start a business as a nurse. The list is far from comprehensive as I’m sure you’ve had your own reasons for starting your business, but these are at least some of the reasons to jumpstart your entrepreneurial path.

Job Security: I’ve definitely argued my point on numerous occasions that this is one of the most important reasons to pursue entrepreneurship. I just can’t fathom being another number within an organization. As an entrepreneur, you won’t let that happen. No matter the size of the company, regardless of revenue and how well it’s doing, you could still lose your job at any moment. Companies are bought and sold often, and in those scenarios some departments can get phased out or absorbed. I’m more in control about offering products and services that are demand, and if not, well I can change things up. I could also flip the company myself, which brings me to my next point.

Reinventing Yourself: I’ve started and sold several companies over my career.  And every time I sell a company, I’m presented with an opportunity to reinvent myself all over again. I own businesses both in the healthcare/human services space, and also in the marketing and technology space. If a business fails or doesn’t go in the direction that I’d hoped I could change the course, or I could dissolve it and cut my losses. Regardless, I get to feed all of those creative cravings to do something different.

Keyboard and trackpadIt’s actually cheaper: I remember when I started one of my first Internet businesses, and the cost of hosting websites alone was absurd. Technology was harder to acquire and it was expensive.Today, a small start-up can run very lean thanks to the decline in cost of technology, flexible office leasing, and the ability to perform many tasks virtually. Social media marketing has also helped businesses on a shoe string budget perform marketing tasks that otherwise would have cost much more for even the most basic target marketing efforts.

Financial independence: Another big reason to go into business for yourself is financial independence. Now let me quickly say that this doesn’t necessarily mean you’re going to be raking it in, especially in the beginning. You can however have more control about where the money goes. You’re still able to set up a retirement account, you can pay those student loans through a reimbursement program you set up in your business, and if times are really good, you can also pay out bonuses to yourself.

A feeling of pride: When you build something successful, there’s just no feeling like it. The vision was there, you planned your execution of that vision, and you made it happen. There’s also the feeling of pride in what you’re doing each day, the people that you’re actually helping. There’s no reason to deny your pride when you help others achieve better health and success as a nurse.

Start in your spare time: This isn’t going to be easy right out of the gates, but if you remain focused on your vision you can start this venture in your down time. There will be times where you’re putting in a lot of hours for little to no financial return, but once you’re able to cut out that full or part-time job to focus solely on your business, you’ll have mastered the ability to produce results in a more streamlined fashion, and get paid for it.

Networking: I just love to network. I simply love learning from other people. Entrepreneurs thrive on meeting each other and learning from other’s experiences. Whether discussing challenges or successes, we want to know your story. We also look at these situations as collaborative opportunities. Maybe you offer a service that would complement something I offer in my business, and together we can deliver the complete package to meet the client’s needs.

You’re actually creating jobs: I not only really enjoy providing employment opportunities to others, but I love, love, love being a part of someone else’s success. Establishing teams, collaborating on projects, and building camaraderie is so much fun. I’m extremely thankful for my colleagues. I wouldn’t be where I am today without them.

Becoming an expert and honing those skills: Regardless of what path you choose as an entrepreneur, you’ll likely pour your heart and soul into everything you do, and you’ll likely become very skilled at what you do. You’ll have opportunities and work in settings where you’re considered the expert in the room, and people will actually hang on to every word you’re saying! You’ll also get quite a bit of experience in performing tasks that you wouldn’t have necessarily performed in your current job, especially when you’re in the start-up phase. These skills will carry you throughout your entire entrepreneurial career.

 

I’d love to hear from you. What is your reason that you’ve started your business, or why you want to start a business? Leave a comment below or under #innovativenurse on our social media platforms and I may actually announce your response on The Innovative Nurse Show.

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1 comments
WorldNursingJob
WorldNursingJob

Pretty nifty guidelines you got here Kevin! Thanks for sharing! One must also have passion and determination for starting his own business.