In recent years, there has been an increase in nurse entrepreneurs who have chosen a less conventional path in the healthcare industry. Nurses, known for their dedication and adaptability, are now moving beyond traditional direct patient care roles and venturing into side gigs and full-fledged entrepreneurial ventures.
This article examines the process of moving from idea to action, discussing the different stages of starting a business, the challenges encountered, and the unique strengths that nurses bring to the table. It aims to inspire an interest in starting your own side business!
Ideation Phase
Every entrepreneurial journey begins with an idea. For nurses, these ideas often stem from their everyday experiences and the challenges they observe within the healthcare system. The ideation phase is about recognizing a problem and envisioning a solution. Here, creativity meets practicality as nurses leverage their unique perspectives to identify opportunities for innovation.
During my time as a nursing student and new graduate nurse, I discovered that nurses needed more support and career guidance. In my personal experience, a clinical instructor laughed at me and told me I would never become an emergency nurse. This response shocked me and pushed me to pursue my passion for working in the emergency department.
As my career progressed, I became a preceptor, mentor, educator, and coach. I realized I had a talent for providing career guidance to nurses and empowering them to work towards their career goals. Many have referred to me as the ultimate “hype woman” due to my ability to motivate others.
One day, I realized I could turn my skills, abilities, and expertise into a business. I identified a significant gap in career guidance for nurses, recognizing that nursing offers many different opportunities and career paths. On June 21, 2021, I founded Farah Laurent International Nurse Coach LLC. Today, I am an energetic Nurse Career Coach, author, freelance writer, speaker, and corporate trainer focusing on leadership development, professional advancement, creating healthy workplaces, and branding.
Identifying Opportunities
Nurses encounter numerous pain points in their daily routines—inefficiencies, gaps in patient care, and unmet needs. These experiences can spark ideas for potential business ventures. The key is to remain observant and curious, always asking, “How can this be improved?” For example, noticing a lack of specialized patient education materials might inspire a nurse to develop a series of informative, easy-to-understand guides.
Another idea is to develop nursing products by nurses for nurses. Nurses have a deep understanding of healthcare and are filled with solutions. Nurses possess many transferrable skills in business, such as problem-solving, adaptability, communication, negotiation, leadership, change management, psychology, human behavior, and simply connecting with people.
Market Research
Market research is crucial. This involves assessing the demand for the proposed solution, understanding the competitive landscape, and identifying the target audience. To gather data, nurses should utilize resources such as online surveys, focus groups, and industry reports. A great example would be how the newspaper industry has lost its demand. Think about the problem you are solving and how significant the demand could be.
Understanding the Industry
The healthcare industry is vast and complex, with its own set of terminologies and regulations. For a nurse transitioning into entrepreneurship, learning the business aspects of healthcare is essential. This includes understanding the business terms and speaking the language, such as ROI (Return on Investment), market segmentation, and customer acquisition costs.
The Learning Curve
Venturing into business can be daunting, especially when faced with the steep learning curve of understanding market dynamics, financial management, and marketing strategies. For many nurse entrepreneurs, this phase involves consuming a wealth of knowledge from various sources.
Self-Education
Books, online courses, and seminars become invaluable tools. Titles such as “The Lean Startup” by Eric Ries and “Business Model Generation” by Alexander Osterwalder provide foundational knowledge. Additionally, “The Brand Flip” by Marty Neumeier offers insights into branding—a critical component often misunderstood in the early stages of business development.
YouTube University
Platforms like YouTube offer a plethora of educational content. From tutorials on business plan creation to digital marketing strategies, nurse entrepreneurs can find step-by-step guides and real-world advice. The visual and practical nature of these videos helps demystify complex concepts.
Taking Action
While knowledge is power, action is paramount. The transition from planning to execution is where many aspiring entrepreneurs falter. However, the most effective learning often comes from doing—trial and error is an integral part of the entrepreneurial process. Taking action is the best way to move forward in your business, and it is part of a continuous improvement cycle.
Implementation
Launching a business requires a proactive and growth mindset. Start small, with pilot projects or side gigs, and gradually scale up based on feedback and results. This iterative approach allows for adjustments and improvements along the way.
Overcoming Challenges
Entrepreneurship is fraught with challenges, from financial constraints to market competition. Nurses, accustomed to high-pressure environments and critical decision-making, are well-equipped to navigate these obstacles. Resilience and adaptability are vital traits that aid in overcoming setbacks.
Building a Business: Personal and Professional Growth
Entrepreneurship is as much about personal development as it is about business success. It demands continuous learning and self-improvement.
Client-Centric Approach
To succeed in business, entrepreneurs must undergo a significant shift in mindset. They must understand that clients care primarily about their own needs and how quickly their problems can be solved. This client-centric approach is essential for building lasting relationships and gaining trust.
Investing in Yourself
Investing in personal development—whether through courses, coaching, or networking—is crucial. Although spending money on yourself and your business may sound daunting, this is the fastest way to improve your business.
Personal Branding and Visibility
In the realm of entrepreneurship, personal branding cannot be overstated. It is imperative to be visible and communicate your value proposition. Building a personal brand and becoming a thought leader in your niche can differentiate you from competitors.
Understanding Branding
As Marty Neumeier explains in “The Brand Flip,” branding is what the audience says you are. It’s the perception held by your clients and customers. Nurses must create a strong, authentic brand that resonates with their target audience. In order to understand your brand, you have to know yourself and your purpose and values.
Social Media and Networking
Leveraging social media platforms to create organic content and engage with potential clients is essential. Attending networking events, both online and offline, helps build connections and foster relationships within the industry.
For nurses interested in starting a business but not quite sure where to start, here are some potential ideas.
10 Nurse Business Ideas
Nurses possess a unique blend of skills and qualities highly transferable to business.
Here are ten business ideas for nurse entrepreneurs:
Nurse Consultant: Providing expert advice to healthcare facilities on improving patient care and operational efficiency.
Freelance Writer: Writing health-related content for blogs, magazines, and websites.
Health Coach: Offering personalized wellness and nutrition advice to individuals seeking healthier lifestyles.
Home Healthcare Agency: Providing in-home care services to patients.
Medical Billing Service: Managing billing and coding for healthcare providers.
Telehealth Services: Offering remote consultations and follow-up care.
Continuing Education Provider/Tutor: Creating and delivering educational programs for nurses.
Patient Advocate: Assisting patients in navigating the healthcare system.
Medical Equipment Sales: Selling specialized medical equipment and supplies.
Medical Spas/IV Therapy: Providing skin, beauty, and hydration-type services in a medical spa is a booming industry.
Actionable Steps to Start Your Business
Here are five actionable steps to help nurses kickstart their entrepreneurial journey:
1. Conduct Market Research
Identify your target audience and understand their needs.
Analyze competitors and market trends.
2. Develop a Lean Business Plan
Outline your business model, value proposition, and revenue streams.
Set clear, achievable goals and milestones.
3. Open Your Business and Select a Structure
Register your business and obtain the necessary licenses.
Choose a suitable business structure (e.g., sole proprietorship, LLC).
4. Decide on Your Business Model
Determine whether you will provide a service or sell a product.
Develop a pricing strategy and sales plan.
5. Focus on Brand, Sales and Marketing
Build an online presence through a professional website and social media.
Be visible and build a brand people want to be a part of.
Network with potential clients and industry professionals.
Create marketing campaigns to promote your business.
Building Relationships and Trust
Success in business hinges on building long-lasting relationships. Honesty and reliability are the cornerstones of trust. Making people know, like, and trust you is essential for sustained growth.
Networking and Engagement
Attend industry events, conferences, and workshops.
Engage with your audience through social media and email marketing.
Conclusion
Nurses have a unique opportunity to leverage their skills and experiences to create successful businesses. By embracing continuous learning, investing in personal development, and building strong client relationships, nurse entrepreneurs can navigate the challenges of entrepreneurship and achieve lasting success. The journey from side gigs to full-fledged businesses is filled with lessons and personal and professional growth.
It’s time to stop overthinking and take action! Take the steps towards building your dreams!
Nurses who are creative, curious, and passionate about expanding their nursing careers often find a nursing business to be an ideal path for them. These nurses, also known as “nursepreneurs,” provide exceptional patient care and are natural innovators and problem-solvers, bringing innovation to the nursing profession. As role models and mentors, nursepreneurs inspire other nursing professionals to explore entrepreneurial endeavors, driving positive change in nursing.
Virginia Lynn Peterson, the nurse inventor and founder of SWOOP bras, is an innovator and problem-solver for nurses. With 15 years of nursing experience, Peterson understands the struggles faced by healthcare professionals, especially the discomfort of wearing a less-than-ideal bra during long 12-hour shifts in the emergency department.
Peterson crafted a solution: an innovative line of bras and loungewear tailored for healthcare workers and active women. The line prioritizes comfort so nurses can focus on their work.
What started as a personal venture has evolved into a successful business. SWOOP’s mission is to support heroes by providing the finest undergarments and loungewear tailored to meet the unique demands of long shifts.
SWOOP’s product range now includes matching underwear, shorts, pants, and ultra-soft, cozy tunics for busy, active women everywhere.
Peterson shares insights into her journey of creating SWOOP. Below is an interview, edited for length and clarity.
Virginia Lynn Peterson, the nurse inventor and founder of SWOOP bras.
How did you come up with the idea for SWOOP Bras?
Having endured the discomfort of wearing unsupportive bras during lengthy shifts as an emergency room nurse, I identified a market gap for undergarments that seamlessly blend functionality, comfort, and style. Drawing from personal experiences and frustrations, I embarked on a mission to develop a solution – thus, SWOOP was conceived!
Why did you decide to start your side gig?
As an emergency room nurse, I recognized firsthand the significance of comfortable undergarments for individuals in demanding professions. Seeing an opportunity to address this need while pursuing my passion for design, I launched SWOOP as a side venture to cater to fellow healthcare workers and active women.
When did you start SWOOP, and how did you go about it?
SWOOP Bras took flight in 2020! Armed with my nursing know-how, I started by crafting bras solo, using the trusty sewing machine my mom gifted me at age 12. But as demand soared, I traded for a sleeker, fancier machine! With a blend of comfort, support, and one-of-a-kind style, I breathed life into my vision and unleashed the brand onto the world. And guess what? We still manufacture in Alaska and beyond – because some things are too good to change!
What product was first? How did you create a product line?
Our inaugural product at SWOOP was our signature bra, meticulously designed for all-day comfort and support. As demand surged and customers expressed interest in additional offerings, I expanded our product range to encompass underwear, loungewear, shorts, pants, and tunics – all crafted with the same commitment to quality and functionality. Notably, our tunics and bras remain our best-sellers.
Have you worked in consumer retail goods before you began SWOOP?
No, I hadn’t. Much of my journey has involved learning on the fly, supplemented by invaluable guidance from mentors and resources such as the small business development center and MEP.
How did you know there was a need for SWOOP Bras?
Ah, let me share the tale of Buffy! What a memorable name. So, Buffy swooped in and ordered a single bra. Fast forward three weeks, and bam! She’s back, this time snagging four more! I never even met Buffy, but that moment marked a turning point. That’s when my small business stopped being just a side hustle and turned into something bigger, something electric! It’s a pivotal moment that still gives me goosebumps.
What do you do now with SWOOP?
Right now, it’s all hands on deck! Our mighty crew of five handles everything – from production to marketing to shipping out orders. It’s a juggling act sometimes, but we’re a tight-knit bunch. We work hard, lift each other up, and always find time to share a laugh or two along the way.
Do you have previous entrepreneurial experience, or have you learned on the go?
My journey with SWOOP has primarily entailed on-the-job learning fueled by passion and dedication. Although lacking prior entrepreneurial experience, my nursing background equipped me with invaluable multitasking skills that have proven beneficial. I am sure any nurse can relate to that!
What do you enjoy most about your side gig?
Oh, the joy of running SWOOP! Seeing our real impact on healthcare heroes and active women’s lives has been incredibly fulfilling. When customers reach out with glowing reviews expressing newfound comfort and confidence in their SWOOP Bras, it’s like music to our ears! Plus, what about our community’s passion for women’s empowerment through our photos? Simply astounding! We aim to make every wearer feel like they’ve just stepped off the runway—an “off-duty bra model” in our fabulous products.
What are some of the challenges of being a woman-owned business?
As a proud woman-owned business, SWOOP has tackled its fair share of hurdles, especially in industries dominated by men who may not grasp the nuances of undergarments. Some find the topic uncomfortable, even embarrassing. Yet, in a world where men hold sway in various realms, we persist in our mission to educate and inspire them to overcome their discomfort. After all, there’s no reason to shy away from discussing something as fundamental as comfort and support!
What are the most significant rewards of having a nursing side gig?
The most fulfilling aspect for me has been transforming my passion into a purpose-driven business that positively changes people’s lives. Witnessing SWOOP evolve from a side project into a flourishing brand has been immensely gratifying and motivating. Entrepreneurship wasn’t originally on my radar, but I’m genuinely grateful for the myriad of blessings it has brought into my life!
Where can nurses buy SWOOP products?
Nurses can conveniently purchase SWOOP Bras online at wearswoop.com, and we actively engage with our nursing community through social media and events to raise awareness.
What’s next for SWOOP Bras?
SWOOP aims to expand its product offerings and outreach to serve a broader audience of healthcare workers and active women. I’m passionate about exploring innovative ventures and partnerships that align with our comfort, support, and empowerment mission.
What would you say to someone considering starting their side gig?
To aspiring entrepreneurs contemplating their side gig, I encourage you to follow your passion, persevere in the face of challenges, and seek support from fellow entrepreneurs. Embrace the journey, stay true to your vision, and never underestimate the impact of your ideas and dedication.
Is there anything else you want readers to know?
SWOOP Bras transcends mere lingerie – it symbolizes empowerment, comfort, and confidence for women across all spheres of life. Through SWOOP, I aspire to redefine women’s everyday comfort and support, one bra at a time.
Catie Harris, PhD, MBA, AGACNP, FNP, ANP, and a nurse entrepreneur, knew she loved nursing, but she also knew the crazy schedules weren’t giving her the balance she needed and wanted in her life. Rather than leave nursing, Harris took another look at how she could continue in an industry she loved, but with more control over her schedule, projects, and even her salary.
With her knowledge from a nursing career and a business degree and a lot of innovation, NursePreneurs was born. Harris is determined to help other nurses find a nursing path that suits their needs best.
For National Nurses Week, Harris recently answered a few questions from Minority Nurse about the importance of finding your best path.
Many people, nurses included, overlook the essential business skills nurses bring to the industry. How can nurses determine if an entrepreneurial path is a good match for them?
Nurses are trained in nursing school to be entrepreneurial. In fact, I relied more heavily on the nursing process to teach me how to run my business than anything I learned from getting my MBA. That might sound surprising, but the MBA teaches you how to operate within a business, not start one from the ground up. Whereas the nursing process teaches you how to assess a population, diagnose a problem, plan for a desired outcome, intervene with the solution and evaluate the response. These are the essential business skills needed to be an entrepreneur. Even though every nurse learns this entrepreneurial design in the nursing process, not every nurse wants to become an entrepreneur. There are certain qualities that simply stand out in entrepreneurs such as:
Adaptability – business is inherently risky and unpredictable. A business rarely becomes successful from the first unaltered idea. When the idea is floated to an audience, the market decides what it wants and the entrepreneur either adapts the business or risks failing. An entrepreneur must be flexible enough to adapt to whatever evolution the business needs to go through to evolve and sustain itself. Change is inevitable and an entrepreneur has to be willing to accept it frequently.
Resilience – there will be many failed attempts at starting and scaling a business. An entrepreneur must see every attempt as an experience and not a failure. No entrepreneur would ever be successful if they focused on all the things that go wrong. Entrepreneurs must see every obstacle as a challenge to overcome and not a dead-end.
Persistence – Entrepreneurs have to be persistent. A “no”, simply means your audience doesn’t understand what you are offering and the message needs to be adjusted. You have to be ok with getting candid answers to the solution your provide. Entrepreneurialism is not for people who attach all their self-worth into a solution or suffer from perfectionism.
Excellence – Entrepreneurs love to over deliver and provide massive value. They are consumed by learning, growing and sharing their knowledge. The entrepreneurial path is for people who want the freedom to pioneer their own way and decide how to focus their attention and energies. This is definitely not the space for anyone who needs to follow an agenda.
In what ways can an entrepreneurial nurse make an impact on healthcare policies and industry practices and, of course, patients?
All nurses can make a huge impact on healthcare policies, industry practices and patients. Being at the bedside, nurses know more than anyone what patients need, want and desire. Nurses are the number 1 trusted profession, and because of that ranking, patients trust us with incredibly sensitive information. Patients tell us their fears and frustrations about their disease and health conditions. Nurses are in a unique position to use that information to create businesses that serve the patients in a way that benefits them.
Nurses are also keenly aware of how hospital policies and industry standards impact the services provided to patients. For instance, one of my students is working on a business model that helps cancer treatment centers to educate their staff on how to communicate with patients. There are many questions and concerns that patients have that never get addressed out of embarrassment, worry that they are taking up too much time or being burdensome or because they simply don’t understand what is going on. This type of business has strong potential to alter how cancer education is delivered in the healthcare system.
What can nurses do to gain business skills and education that will help augment their nursing skills?
Nurses can gain business skills and education through books and online education. There are many groups out there who are helping nurses to gain the knowledge they need to support their business models. Investing in seminars, conferences and networking events is also hugely beneficial. Finally, nothing will fast track business success more than finding a mentor who has done what it is that you want to do and start working with that person as early on as possible.
How did you discover this path for your own nursing career?
I have had the entrepreneurial itch for decades! I also suffered from “bad employee syndrome”, meaning I always wanted to pioneer my job in directions that weren’t exactly in line with what my employer had in mind for me. I didn’t like being reigned in and having a defined job. I wanted to explore what was possible and continue growing and learning. The only “job” that truly allows this type of occupational freedom is the one you can create for yourself. I might not have started my business if I found a job with occupational freedom that paid well, but it didn’t exist for me, so I created it.
What makes your role as a nurse entrepreneur so rewarding?
I love seeing the impact of my students on their clients. When they have success, I celebrate it as if it were my very own. When you see how your work helps others to help others, it’s incredibly rewarding. My goal is to help 1000 nurses to start up their businesses in the next 2 years. Imagine the impact of 1000 nurses in business helping others to achieve healthier lifestyles, improved outcomes and live happier lives. Pursuing my passion, living my purpose and using my talents is what makes being a nurse entrepreneur so rewarding.
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