Nursing offers enough opportunities to last a lifetime. From bedside to boardroom, nurses can find their niche both in and out of the hospital. Nursing is an exciting, flexible, versatile, and prestigious career — and it’s extremely marketable!

Where do you see yourself in two years? Five years? Do you think you will still be on the same unit, taking care of the same patients? On the other hand, if you have aspirations to move onto something else, don’t shy away from nursing or leave the profession. There is plenty of work within the health care industry.

Whether you want to move up the administrative or management track or open your own business, it’s important to have a minimum of five years of clinical experience before taking the leap. This is necessary not only for building a strong clinical foundation, but also for credibility. Nurses who have worked in the trenches are much better received by clients because they can pull from past experiences and relate to complex clinical situations.

Pay close attention to the skills you’ve developed: time management, delegation, communication, multi-tasking, assessment, problem solving, and critical thinking. They’re transferable to other areas and industries. As you learn and master new skills, jot them down to add to your resume.

Get Ready

If you’re thinking about opening your own business, it’s a good idea to perform a self-assessment. Ask yourself some key questions:

• Do I like working with people, or would I rather work alone?
• Do I enjoy computer work, or does it intimidate me?
• Do I like to be in charge, or am I a follower?
• How do I feel speaking in front of a group?
• Do I like talking on the phone, or do I perform better in person?
• Is spending time with family at the top of my list?
• Do I like to travel, or do I prefer to stay local?
• Do I like sales, or would I rather have someone else in a sales role?

Explore Some Possibilities

Answering these questions is a great way to start understanding the type of work you may want to explore. The opportunities are endless! Nurses can own their own business or be independent consultants. Some examples of nurse entrepreneurs include —

Educator — Become a certified CPR instructor and contract with schools and community centers.

Writer — Write a book about your experiences as a nurse or write articles for a nursing magazine or journal.

Speaker — If you love to speak and aren’t intimidated by large groups, submit an abstract on a topic you have a passion for to present at a career fair or other educational conference.

Legal nurse consultant — Get certified and contract your services out to attorneys.

School nurse — Work full-time or contract your services out to a schools for a few hours a week.

Sales representative — Check out a job in sales. These positions are abundant for nurses who are open to travel. Many health care vendors recruit nurses to be technical experts on products.

Information technologist — If you love computers, try offering your services as clinical expert for a
software system for use in health care.

Regulatory/compliance consultant — If you’re skilled in the latest JCAHO standards, patient safety, or HIPPA, or if you have specialty experience in areas like rehab or skilled nursing, market yourself as a pre-survey consultant.

Getting Started

Starting a business can be frightening, and it involves some risk. Once you have performed your self-assessment and set your goals, how can you get started? Whether you are planning on moving beyond the bedside or dabbling into something new, it’s important to set realistic goals and identify the steps you need to take to meet that goal. Outlining these steps will help you stay focused and on target.

It is important to consider your financial situation before “quitting your day job.” Do you survive from paycheck to paycheck? Do you have money in the bank? Experts report that you should have the equivalent of three to six months salary in the bank before getting started. Many nurses continue to work part time or per diem while establishing their businesses. In terms of health insurance, it may be more economical to stay on COBRA if you leave a job that has covered your health insurance. If your significant other is able to add you onto his or her plan, all the better, as independent medical insurance coverage is costly.

One way to take the plunge is to begin with a small consulting job, maybe with a previous employer. Marketing your services can be tricky. Unless you’re selling a product, it’s about selling yourself. How confident are you in what you do? In this high-tech day and age, nurses can send a marketing e-mail to their contacts, which costs next to nothing. If you want to take the next step, developing a brochure or setting up a website is also a great way to advertise or market your services. You can also have an exhibit or hand out brochures at conferences.

Now the big questions: How much do you charge, and how do you bill for your services? Nurses often undervalue themselves. Research the market rate for someone with your experience and credentials. Since independent nurses do not receive benefits or paid time off, factor this into your hourly rate, and add in overhead costs (mileage, photocopying, preparation time). Many consultants charge a higher hourly rate for a small job and often discount when securing a long-term or extended contract as a professional courtesy.

Now is an exciting time for nurses to expand their horizons. Begin networking by getting out and meeting people, formally or informally, in groups, or one-on-one. Network through professional organizations, interdepartmentally, at conferences, and socially. How do you network? Simply introducing yourself to an individual from another work facility is a form of networking. It is important to carry those business cards that include your contact information and affiliation. When starting out in business, seek out an experienced coach to help you along. Most experienced business nurses are open to being a mentor; you merely need to ask.

Consider trying a new opportunity. Nursing is a wonderful profession: You can make a difference, feel good about yourself, and make money!

KT Waxman, RN, MBA, is president and CEO of KT Waxman and Associates, Healthcare Consultants, and is the interim director of the Nursing Center of Excellence at QVH.