Nursing & Healthcare Directories on: The Nursefriendly
Nursing Entrepreneurs, Nurse-Owned Businesses,
Are You Making Any of These 10 Deadly Small Biz Mistakes?

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Are You Making Any of These
10 Deadly Small Biz Mistakes?

Source: Managing a Small Business

Dear Friend,

These traps/mistakes are common to many entrepreneurs:

1. Getting Wedded To an Idea And Sticking With It Too Long.
Don't marry a single idea. Remember, ideas are the currency of entrepreneurs. Play with many ideas and see which ones bring money and success.

2. No Marketing Plan.
A marketing plan creates the kind of attention you need to get in front of the right types of people, companies, etc. It is what attracts people to you! There may be as many as 25 ways to market your business at no or low cost. A good marketing plan implemented effectively, efficiently, elegantly and consistently, will eliminate the need for "cold calls!" (See below for how to create a results driven marketing plan).

3. Not Knowing Your Customers.
Changes in your customers' preferences and your competitors' products and services can leave you in the dust unless you get to know your customers well, what they want now and will likely want in the future, what their buying patterns are, and how you can be a resource for them even if you don't have the right products or services for them now! (See below for low cost techniques to gather facts about your customers and the people you'd like to have for customers).

4. Ignoring Your Cash Position.
The world (aka customers) doesn't respond to even superior products in the timeframe that you think they should. You'll need plenty of cash to sustain yourself in the meantime. (See below for how to forecast your cash needs and protect yourself from cash crisis situations).

5. Ignoring Employees.
Motivating, coaching and managing your staff is probably one of your toughest challenges as an entrepreneur/business owner today! Without your patience, persistence and "people skills," your problems can multiply quickly. Morale, productivity AND PROFITS can easily be destroyed! (See below for how to get your employees' full commitment to job performance).

6. Confusing Likelihood With Reality.
The successful entrepreneur lives in a world of likelihood but spends money in the world of reality.

7. No Sales Plan.
Without a sales plan, there's no serious way to gage the financial growth and progress of your business. You need a realistic map for where the sales will come from, how they'll come and from whom.

8. Being a Lone Ranger.
You might be the key to everything BUT you cannot DO everything and grow at the same time. Even modest success can overwhelm you unless you hire the right staff and delegate responsibility. (See below for effective delegation techniques)

9. No Mastermind.
Get an advisory board or a mentor! Sounds crazy for a small operation? It's not! The board can be family members that you trust, or friends. Ask them to be your board of directors and review your business plans and results with them. Having someone to bounce ideas off and get an objective opinion is critical.

10. Giving Up.
Some of the most successful entrepreneurs failed several times before doing extremely well. So, if you're failing, fail. And fail fast. And learn. And try again, with this new wisdom. Do NOT give up. Yet, do not suffer, either.

Nursingentrepreneurs.com is a networking and resource directory for Nurse-Owned businesses and nurses looking for an alternative to working at the bedside.

If you explore the site a bit, you'll find profiles of hundreds of nurse entrepreneurs around the country. We encourage you to browse around, find a business category you are interested in, then contact the nurse directly. We're available for questions as well. This website is Owned-Operated by Andrew Lopez, RN a Medical/Surgical/Telemetry nurse.

Has your Nurse-owned business been written up in the news? Do you send out a newsletter or regular press releases? We'd like to hear about it!

Our Newest article is from an Arizona Nurse Entrepreneur:

Should You Incorporate Your Registry Business? By Joseph Caracci, RN:"The short answer is yes! When starting a new nurse registry business, you are entering into a legal business environment that requires you to take steps to protect your personal assets, such as your home, your savings, and your retirement. With this in mind, you need to determine which legal form you are going to take for your new registry. Some of the common choices are a sole proprietorship, a partnership, a limited liability partnership (LLP), a limited liability company (LLC), and a corporation."
http://www.nursingentrepreneurs.com/incorporate

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The #1 question, we've been receiving lately is about Starting A Nursing Agency, resource sites & manuals

Please choose from the following:

Interesting Reading For Nurse Entrepreneurs, Actual or Soon To Be:

Nurse Entrepreneurs: Tales of Nurses in Business:"This book is vey inspiring! Learn how 50 different nurses brought their vision to reality! Learn some great tips on starting your own business. Nurses don't have to just work at the bedside. Read this book and you will be thinking of how you can make your dream a reality!"

Own Your Own Corporation: Why the Rich Own Their Own Companies and Everyone Else Works for Them:"Rich Dad's-"Own your Own Corporation" is a must read for anyone comtemplating a new business-or someone who already owns their own business. Garrett's direct yet simplistic explanations of the different business entities,the proper and best suited entity for your business-is followed by real-life scenarios which helps drive home the importance of corporate ownership in today's business world. Use Garrett's legal expertise to establish a successful, legally responsible and fiscally protected business...And understand the why's and how's of that ownership."

21 Success Secrets, Success Secret #4- "Do What You Love to Do." Get your FREE CD and find out the other 20 secrets of self-made millionaires.:"Order your FREE CD ($4.95 S&H) from Brian Tracy's acclaimed 21 Success Secrets series. Start with 21 Success Secrets of $elf-Made Millionaires - full of techniques practiced by all men and women who go from rags to riches in one generation. Brian Tracy is a noted success expert. He's trained over 2 million people in 23 countries how to achieve their financial goals faster than ever before."

  • Business To Business:
    • Subscribe to our newsletters to learn how to make any site sell! Please enter your e-mail address into the box and click on the "Subscribe" button.

    • Click Here To Start accepting credit cards online! Surefire Premium Processing ($100,000 and over)

    • Make Your Knowledge Sell!:""Make Your Knowledge Sell!" makes it possible for Y-O-U to develop and sell your infoproduct! My co-author Monique Harris started out pretty much like you. She didn't use rocket science to achieve her tremendous e-publishing success."

    • Make Your Net Auction Sell:"As a business, Net auctions are truly a whole new kind of opportunity. To sell at auction just a few years ago, you had to be a Sotheby's, a business liquidator, a car dealer… or some other kind of "traditional" business. Or pay them to do the job."

    • Make Your Price Sell:"Know Your Perfect Price™ in 50 Minutes "Why is the Perfect Price™ so important?" That depends on whether you are considering a new product concept, launching a new product, or managing existing ones... Considering a new product concept? Not sure if it will fly? Imagine if you could know how much people would pay. You'd know if this new idea was worth pursuing... or not (think of the dollars and time saved)."

    • Make Your Site Sell:"Starting a major new business on the Net? Want to improve upon results from an existing Web presence? Or merely looking to build a solid second income stream? Whatever your e-commerce goals, we'll OVERdeliver, no matter how lofty your expectations are. As you will soon see, SiteSell.com products are globally acclaimed by major authorities as best of breed. Yet they are priced so that you can afford them... easily."

    • Make Your Words Sell:"What Do YOU Sell? Want to Sell More? Selling software on the Net? Infoproducts? A service? Million dollar cables for suspension bridges? If you want to sell more... Use the right words. Because words sell, not graphics. If you have any doubts, try this simple experiment."

    • Site Build It :"Site Build It! is the complete, all-in-one traffic-building system. It builds income by giving you all the software, tools and techniques that you need to build targeted traffic... all tied together into a terrific, time-saving, step-by-step process."

    Please select from the following, see also Doing Business Resources:

    Make Money From Any Type of Website! Webmasters will want to check out our Paid Link Affiliate Programs Directory

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    Last updated by Andrew Lopez, RN on February 28, 2023


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