If you’re an experienced clinician with an entrepreneurial mindset who is looking for a new challenge, you might consider becoming a nurse entrepreneur. There are plenty of business options available for nurses, including those that still involve direct patient care and those that will guide you away from clinical practice. Consider your interests — both within the nursing field and outside it — to decide which nurse entrepreneur ideas best suit you.

If you decide that starting your own business would be best pursued after obtaining additional education, consider Grand Canyon University’s graduate-level degree programs for nurses. These include the dual Master of Business Administration (MBA) and Master of Science in Nursing (MSN): Nursing Leadership in Healthcare Systems degree.

A nurse entrepreneur is a registered nurse (RN) or an advanced practice registered nurse (APRN) who launches their own business venture, combining their skills and experience in healthcare along with business competencies. A clinician entrepreneur may start any number of healthcare-related businesses, providing opportunities for greater professional autonomy, improvements in patient care and innovation in meeting the healthcare needs of communities.

As an aspiring nurse business owner, you might decide to continue caring for patients in your own practice. Alternatively, you could pursue a healthcare-related business that does not involve direct patient care. You could get started by identifying the gaps or problems you notice in healthcare and designing a business model that addresses them.

If you’re an independent soul who craves professional autonomy, you may fall in love with entrepreneurship. It offers exceptional autonomy. Since you’ll be your own boss, you can dictate the direction of your company and make the day-to-day operational decisions.

Other benefits of entrepreneurship in the nursing field can include:

• Diversify income streams
• Step into a leadership role
• Enjoy a flexible schedule
• Embrace innovations in patient care
• Work in a way that aligns with your personal values and passion
• Enjoy personal fulfillment

Think about your interests and professional strengths when choosing an idea for your business.

Legal Nurse Consulting

Law firms often turn to healthcare professionals for guidance on cases that involve medical issues, such as personal injury and medical malpractice cases. Consulting may also involve explaining healthcare laws and regulations.

Wellness Coaching

Clients may hire a wellness coaching professional when they need to reach a health goal, such as losing weight, getting physically active or quitting smoking. Wellness coaching experts may collaborate with other providers, such as nutritionists and fitness coaches.

Tutoring Services

Nursing students who are struggling with complex topics like pharmacology may decide to turn to tutoring services to help them successfully graduate from nursing school. If you enjoy explaining complex concepts, tutoring might appeal to you.

Entertainment Consulting

Authors and screenwriters sometimes incorporate medical issues into their works of fiction. An author might need to know, for example, the details of how a trauma team would treat a gunshot wound. Similarly, a screenwriter might ask a consulting healthcare provider to review a screenplay to ensure that the dialogue between nurses rings true. Entertainment consulting can be an interesting way to use your nursing background.

Starting a business is a major undertaking. You should plan on spending plenty of time researching your business idea, developing a strong understanding of your market and making plans for your new company.

While every business is a little different, the following are some common steps that nurses might take to launch a new business venture:

1. Identify your niche: Find an area in healthcare that plays to your strengths, and that will support a sustainable growth business.
2. Conduct market research: Don’t neglect to analyze your competitors. Figure out what will make your business different.
3. Develop a business plan: You’ll need a strong grasp on everything from service offerings to pricing to financial projections.
4. Consult an attorney: A business law attorney can advise you on structuring your business, obtaining any needed permits and filing the necessary paperwork.
5. Obtain insurance: Business liability insurance can protect you from unexpected problems.
6. Obtain funding: After identifying your startup capital needs, you’ll need to secure a source of funding and open a business bank account.
7. Develop your brand and marketing: You’ll need to develop a look and voice for your brand. Design a website, develop content, open business-related social media accounts and start working on marketing campaigns.
8. Launch and re-assess: The official launch date of a business is exciting. Plan on taking a step back after a month or two to assess how your company is going and make tweaks as needed.

Figuring out how to start a private nursing business might be challenging at times, but following some tips can help you get going:

• Build on your strengths: Consider business ideas that pertain to your nursing specialty. For example, if you’re a nurse informaticist, consider starting a business that involves patient data management.
• Consider earning another degree: A degree that focuses on nursing leadership and other business competencies could lay a foundation for entrepreneurial ambitions.^{(See disclaimer 1)}
• Rely on your professional network: Tap into your relationships to seek guidance and support. You’ll have more opportunities to expand your network if you decide to earn a graduate degree.
• Cultivate a flexible mindset: Not everything you try will work out. It’s important to keep an open mind, stay flexible and adapt to changing needs and situations.
• Believe in yourself: When starting any kind of business, it is important to know that ups and downs are inevitable. As an aspiring healthcare entrepreneur, you must believe in yourself and your practice. Stay true to who you are and what you are passionate about. If you are excited about what you are doing, you will be able to brush off any negative comments and continue working on your business.

As an RN or APRN, you’ve already mastered clinical skills, but what about business and nursing leadership skills? It’s helpful to have certain technical skills when starting a business, such as marketing and bookkeeping. According to the U.S. Bureau of Labor Statistics, earning a degree before becoming a business owner might not be a strict necessity, but it is certainly helpful because it introduces you to important business competencies.^{(See disclaimer 1)}

If higher education appeals to you, consider looking for graduate degree programs designed specifically for nurses who are interested in the business side of the field, such as an MSN or an MBA. GCU’s dual MBA & MSN: Nursing Leadership in Healthcare Systems degree combines the best of both degrees.

This dual degree explores the use of healthcare businesses as a force for good. It examines everything from advanced nursing practice to accounting and finance principles to marketing, operations and strategic management.

A similar option to consider is the MSN with an Emphasis in Leadership in Healthcare Systems, which dives into strategic management, organizational behavior and financial management for healthcare organizations. It also explores advanced concepts in pathophysiology and pharmacology. 

No matter what type of business you aim to start, you can gain a firm foundation in nursing leadership and business concepts at GCU. To get started, fill out the form on this page and speak with a university counselor about joining GCU’s Christian learning community.