Stay ConnectedNo-Nonsense Business Advice for Entrepreneurial NPs
The Elite NP Show is a podcast for go-getter NPs who are ready to break free from traditional roles and create thriving businesses. Listen to 1:1 interviews with entrepreneurial NPs who are establishing and growing their practices, and apply these valuable insights to your own professional journey.
Copyright: © 2022 The Elite Nurse Practitioner Show
Today we'll be talking to Michell who is a Family N.P. Currently, she's working at a Men's health clinic and an I.V hydration business, Michell is looking to open her own practice where she'll focus on diverse types of medicine and she comes to the show looking for guidance on choosing a new state to relocate where she can practice more independently and navigating the starting stages of the practice set up process.
This episode is full of pearls, Michell is in the starting stages of her practice and it's a good reflection of the challenge many N.P.s out there face, the amount of possibilities and choices can sometimes be overwhelming, you have so many ideas and services you want to provide for your patients that you can get overload paralysis and not really start the practice because of it. In our conversation, we talk about how to manage that sort of overload alongside the benefits of having a passive and active income at the same time in a type of hybrid practice that's set up in a more independent practice state.
In today's follow-up episode, we'll be talking to Noreen, who is a returning Family N.P. to whom we spoke way back in episode 34 where we discussed growth strategies for her then-new practice. Since we last spoke her business has grown significantly and Noreen comes back to the show looking for assistance on hiring help to grow even more, adding new services to her practice, and navigating the challenges that come with this kind of success.
This is a special episode because we talk about the challenges and questions that pop up when you're in a more advanced and successful stage of your practice, you have to start thinking not only about growth but also strategies to protect yourself and your practice financially, Noreen's story is a great example of how the Elite N.P. model work wonders when followed correctly, working hard and smart you can be a millionaire too.
Today we'll be talking to Mike who is a Family N.P, Mike is currently employed at a chiropractor's office doing regenerative joint injections and functional medicine. However, he's planning his future exit and his entrepreneurial journey by starting a practice focused on functional medicine, HRT, and weight loss. Mike comes to the show looking for help navigating the business starting process and creating a solid plan.
In this episode we talk about the importance of focusing on the ten thousand dollar questions and not the hundred dollar ones, no matter the stage you're in on your practice or business life, you need to put your attention on the important things. We also talk about how jumping from a full-time job to working full-time on your practice might not be the best idea, a slow transition, and that the safety net of having a job apart from your business when you're starting will increase your chances of success.
Today we'll be talking to Kayla who is a Family NP, for the past year, she's been operating her own aesthetics and I.V. hydration clinic full-time which is doing ok. Kayla comes to the show looking for help in choosing which additional services to add to her practice to increase patient volume and practice revenue. She also has questions regarding business credit and how to grow her practice.
In this episode, we talk about the struggles of operating a business which is something no one is immune to, no matter in which stage of your entrepreneurial career you're at, you most probably will meet some issues along the way. The mark of a true business person it's to roll with it, learn to navigate it, and pivot if necessary, which in Kayla's case means focussing her energies on growing her business in a small town, like we've mentioned in several episodes before, small towns can be huge gold mines!!
Today we'll be talking to Tiffany who is a family N.P, she started a DCP practice a couple of months ago that has had a slow start. Tiffany originally came to the show looking for assistance in increasing her practice's patient volume and deciding which services and products to provide.
In this episode we have a very particular situation, Tiffany goes from looking at how to increase revenue on a practice she doesn't really own to deciding to start her own practice and changing the focus of the services she will provide. Like we've said in previous episodes you need to be ready to pivot, you have to listen to your patients and deliver on their needs, being able to change focus and meet the demands of a specific area even if it means changing your business or scraping it and starting a new one from zero.
Today we'll be talking to Cheryl who is an adult gero NP, currently, Cheryl is working as a hospitalist full-time and she started a telemedicine practice about a year ago that is doing poorly acquiring patients, she also started a Medicare home assessment business that is going slowly. Cheryl needs assistance on how to get more patients and market more efficiently, she also needs guidance about the services she's providing and where to go next.
An important lesson from this episode is that you can't let failure stop you, in your entrepreneurial journey you'll find obstacles and difficulties that might seem like a big deal but that are in reality a part of every business person's path. Remember if being an entrepreneur were easy everyone would be doing it. You have to be prepared for failure and struggles, learn to expect it, overcome it, pivoting from failure it's what separates a real entrepreneur from everyone else.
Today we'll be talking to Kelli who is an NP, she currently owns and operates a primary care clinic where she tends to a variety of health conditions, and she accepts insurance predominantly, Kelli comes to the show looking for help on how to integrate cash services into her practice to increase revenue and increase client satisfaction.
In our conversation, we go over the steps necessary to have a clinic that accepts both cash and insurance and how to set up the business structure, a clinic like this can be a great money maker, if you're willing to deal with insurance and add chased based services on top of it your revenue possibilities skyrocket, that on top of a good set of procedures and having extra providers helping you out will take you far in your entrepreneurial journey.
Today we'll be talking to Mike who is a Family NP, Mike owns and operates two DPC practices with his wife where they offer primary care and a variety of niche services. Mike comes today to the show looking for help on how to hire another NP to help him scale the business while compensating said new NP fairly.
Mike is the first DPC practice owner we have on the show and his story of success is a very interesting one, Mike has the common growing pains of a successful practice where he is working so much IN the business that he can't put a lot of time working ON the business, that's the point in any practice's life cycle when you need to bring in help, delegate and focus on growth and taking the practice to the next level with the perk of having more free time as well for yourself.
Today we'll be talking to Marie who is an adult and gero NP, she's currently working full time doing Medicare home assessments but also does mobile and acutte care visits. Marie is looking to start her own wellness practice but she's not yet sure about which services she will be offering, she needs assistance figuring out what to provide and how to get the business up and running.
This is a great episode for those looking to start up their own practice, Marie has a lot of interesting and very pertinent questions regarding the first steps to take when opening your own business, one of the most important points we talk about here is to keep your business opening lean, you don't need to spend tens of thousands of dollar to start your practice and in the case you don't succeed remember, a business that was cheap to open will be cheap to close down.
Today we'll be talking to Norrine who is a Psychiatric NP, She operates her own practice full time where she provides general psychiatric services. Norrine also has a variety of nonmedical-focused businesses and needs assistance figuring out how to be a true entrepreneur and how to do business inside and outside of the healthcare space.
In this episode, we talk about what being a true entrepreneur is and the difference between that and being just self-employed. Developing a true entrepreneurial mindset it's not easy, and navigating this journey might be difficult for some, from having multiple businesses in different areas, putting in a lot of work and time to develop systems and procedures, and having the growth and scaling of each business as a goal it's not for everyone but Norrine shows us it's possible for any NP to be a true entrepreneur and an eventual millionaire.
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