‍Where to Start

Right now, you see your plate as overflowing and simply don’t have the bandwidth to even consider all the great ideas that you’ve been exposed to. You’re comfortable in the familiar and fearful of the unknown. First, let me say that your current thinking is what got you where you are, but it’s not going to take you where you want to be. Second, until you can figure out away out of your current situation, borrow somebody else’s strategy. The advice I’m going to provide as a starting point, is based on these two perspectives.

Mindshift: You can have a plethora of opportunities, but without a Mindshift your life will remain the same.

In my opinion, the best way to shift your mind is to learn how other people have done it. If you haven’t already, take advantage of the free resources below. The DoctorNurse Podcast by Dr. Sandra Pagenta, DNP, APRN showcases nurse practitioners and nurses who have gone beyond the bedside to start businesses that capitalize off what they already know.

The BootstrapMD, Mike Woo-Ming, MD has a podcast which you can listen to anytime your ears are free: driving, waiting in line, on the toilet, cleaning, cooking, etc. You can listen at the link provided or on your favorite podcast app. In the podcast, he gets directly to the point, but the inspiration is long lasting. He has great business acumen and will shift your mind beyond the parameters of healthcare as you know it. I highly recommend starting with episode 150: How to make 2022 your best year yet! Focus on creating your next Revenue Generating Asset.

I also recommend the audiobook version of Robert Kiyosaki’s book, The Cashflow Quadrant: Rich dad’s guide to financial freedom (it’s about 9hours long). While Rich Dad Poor Dad (RDPD) gets most of the attention, I think the CashflowQuadrant is the better option for the busy clinician and aspiring nurse practitioner. He talks enough about RDPD in the Cashflow Quadrant that you’ll get the main idea and more by reading this book. In the Cashflow Quadrant, he presents his framework on the difference between business owners, investors, the self-employed, and employees. I’m positive it will change the way you think about how you spend time and earn money.  

Mentorship & Coaching

The benefits of mentorship can save you time, money, and stress by learning from the mistakes of mentors who are where you want to be. Additionally, mentors can also help you develop a strategy, connect you with valuable resources, and remind you – yes, you can do this. Millionaires and billionaires highly recommend identifying someone with a proven track record and adopting their strategy to fit your situation, versus struggling to figure it out on your own, losing both time and money along the way. In contrast, a business coach creates the time and space for you to explore ideas and the creativity you already possess. Most importantly, they can also help you eliminate limited thinking.

Consider working with Barbara C. Phillips, APRN, GNP,FNP-BC FAANP the founder of Nurse Practitioner Business Owner (NPBO): The business of being a nurse practitioner. She started NPBO to connect NPs in private practice with resources and a community. In addition to coaching, consulting, and 15-minute strategy sessions, she provides access to articles she’s been publishing since 2006, a weekly newsletter, a business planning and practice startup system, an advanced practice bootcamp, and live webinars.

Consider a consulting call with Dr. Woo-Ming, MD (the BootstrapMD) who has years of experience working with nurse practitioners, as a medical director, and in the med spa industry. During your consultation, you can address your questions and primary concerns unique to your situation. You can contact him if you’re interested in growing a coaching business, starting a cash pay practice, or discussing your ideas about entrepreneurship.

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Pro-tip: The best mentors are busy working in the field.Consider how you can add value to that relationship. You may also have to pay to gain access to their wisdom and network. Consider the cost of your investment the price you pay to fast-track your success using proven strategies.

Medical Director

While there have been successful initiatives to expand the number of states with full practice authority for nurse practitioners, at the time of this writing, not every state permits NPs to practice to the fullest scope of their education and training. Consequently, NPs in reduced and restricted practice authority states require a physician medical director. Additionally, registered nurses opening niche businesses like IV hydration require a provider to serve as their medical director which can be a NP in a full practice authority state. An increasing number of nurses and NPs are seeking a collaborating nurse practitioner or physician to open their practice. It’s up to the practice owner and the collaborating medical director to determine how frequently to conduct chart reviews. Newer dermatology NPs may require more chart reviews while more experienced dermatology NPs may not need as much support. Disclaimer: I am not qualified to offer legal counsel. Federal and state regulations are subject to change, always check with current policies and legislation.

Helpful ways to identify a medical director include members of your:

1)   National and local physician and NP organizations

2)   Local chamber of commerce

3)   Word of mouth

4)   Social media

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One social media resource is the Guardian Medical Direction which is an online physician collaborator service. They help physicians find and be found by providers who need a medical director or physician collaborator. Their legal team can provide templates and protocols to address legal concerns you may have.

Dr. Woo-Ming, MD frequently talks about his experience as a medical director of med spas. You can hear more about his experience by listening to his blog or by requesting his consulting services.

The EliteNP

The EliteNP encompasses all of these areas. The EliteNP, Justin Allan, FNP is an MSN prepared nurse practitioner with more than 8 years of experience. He started the EliteNP to help NPs recognize what they deserve and take control of their professional and personal lives. He has created a podcast where you can listen to consulting calls he has with NPs considering opening a business or already conducting business. I like to describe it as a business troubleshooting podcast that completely changed my career plans and helped me overcome imposter syndrome in late 2022 (more on this later).

He sends out a weekly newsletter (enter your topic of interest in the search bar); offers American Nursing CredentialingCenter (ANCC) approved courses focused on niche practices, marketing, and tax strategies with more on the way; and a certification exam review course. He has a list of preferred vendors via the EliteNP Group Practice Organization. If you want a checklist on where to start and what to do, theEliteNP is for you. At the time of this writing, I’ve purchased multiple courses and can attest they are worth your money and time. There is also a private Facebook group and EliteNP Inner Circle that offers community and access to NPs who can share actionable strategies.

In order to make a complete mindshift, you can’t picture the life you have now in the new life you want. Join a community of individuals who are doing what you want to do and immerse yourself in all the advice and testimonies they have to offer.  Need help finding a community? Let me know. Also, keep me posted on your journey, I would love to hear where your mindshift makeover takes you.

Kimberly Madison, DNP, AGPCNP-BC

Kimberly Madison is a new dermatology nurse practitioner with a passion for writing, entrepreneurship, financial literacy, and mentorship. I created this blog to share my journey as I become a dermatology nurse practitioner and entrepreneur. Most importantly, I’m looking forward to helping nurse practitioners and aspiring students to better understand the field of dermatology and their role to improving access to care, providing culturally competent care, and advancing education.

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