Picture this: You’re on a highway cruising at 70 mph with the sun shining and wind whistling. All of a sudden, you realize you don’t know where you’re going. You’re just enjoying the ride, the scenery, the sense of moving… until it hits you. There’s no destination. That’s the gut-churning feeling that many nurse entrepreneurs experience when they’re steering their businesses without a clear roadmap.
Welcome to the exhilarating, sometimes hair-raising world of nurse entrepreneurship, where the chances of success or failure can pivot on a few critical choices. Now, strap in, because we’re about to zoom in on three rookie mistakes that can throw your business into the ditch faster than you can say “nurse-owned business.”
Driving without a GPS: The Lack of a Focused Strategic Plan
When you set out on your business journey, you wouldn’t dream of starting without a destination, would you? Yet, that’s exactly what many nurse entrepreneurs do when they launch without a focused strategic plan. They might have a vague notion of where they want to go, but it’s like setting off on a cross-country road trip with no map, no GPS, no itinerary. You’re bound to waste a lot of time and fuel going in circles.
According to a survey by CB Insights, 17% of startups fail because they lack a business model. That’s like driving without a GPS! You might enjoy the ride, but you’ll never get to your destination.
Asking the Local Mechanic to Fix Your Tesla: The Peril of Inappropriate Expertise
Here’s another common pitfall. Imagine you’ve got a high-tech Tesla. Who would you trust to fix it, a local mechanic or a Tesla technician? Sounds like a no-brainer, right? Then why do so many nurse entrepreneurs seek advice from people outside of their industry?
It’s not just about understanding your business—it’s about understanding the nuances of your industry. And in the nursing business world, those nuances can be the difference between life and death for your venture. In a study published by the Journal of Business Venturing, startups that sought advice from industry insiders were 14% more likely to succeed. That’s a stat worth paying attention to.
Getting a Flat and Giving Up: The Lack of Action and Accountability
We’ve all seen those cars on the side of the road, abandoned because of a flat tire. They had a minor setback, and instead of fixing the problem, the owner just gave up. In the business world, this translates to lack of action and accountability. When the going gets tough, the uncommitted get going… and not in the direction you’d hope.
You’ve got to be ready to take action when faced with adversity and hold yourself accountable for the results. According to a Harvard Business Review article, companies that foster accountability are 2.5 times more likely to be high performing. So, if you want to join the ranks of high-performing nurse-owned businesses, don’t abandon your car at the first sign of a flat tire.
But wait, you’re probably thinking, “Okay, that’s all great, but what’s the solution?” Here it is: Getting a Co-Pilot: The Power of a Business Coach Specializing in Nursing Businesses.
Consider engaging an expert business coach specializing in nursing businesses. They’ve got the map, the Tesla technician skills, and the tire repair kit all ready to go. They’ll help you create a focused strategic plan, guide you to appropriate resources, and keep you accountable to your goals.
In fact, a study in the International Journal of Evidence Based Coaching and Mentoring found that business coaching led to a 46% increase in productivity. Now, that’s a detour worth taking!
So, don’t get caught on the business highway without a plan, asking the wrong folks for advice, or giving up at the first sign of adversity. Bring on board an expert business coach for your nursing business and take the fast lane to success. Now, isn’t that a trip worth taking?
Jumpstart Your Nursepreneur Journey: Consult, Learn & Connect!
Feeling inspired by our blog and ready to take your nursing skills to the next level? We’ve got just the tools to kickstart your journey from nurse to entrepreneur.
Start by scheduling your FREE discovery call. This call is all about you – your vision, your potential, and the best steps to turn your skills into a thriving business. Don’t wait another day to chase your entrepreneurial dreams. Book your free call now. https://www.nurse2entrepreneurs.com/discovery-call
Curious about how nurses are becoming successful entrepreneurs? Watch our latest training to see how we help nurses turn their expertise into profitable businesses in just a few months. Watch it here. https://www.nurse2entrepreneurs.com/webinar-registration
Remember, nobody embarks on this journey alone. We’ve cultivated a vibrant community of fellow nurse entrepreneurs who are ready to offer insights, share experiences, and cheer you on every step of the way. Join our FREE Facebook group and become part of a network that’s revolutionizing healthcare. Connect with us here. https://www.nurse2entrepreneurs.com/join-fb-group
Your journey from nurse to entrepreneur is just a click away. Let’s take that first step together.