Highs and Lows: A NP Perspective on Growing Your Business
Updated: Dec 2, 2019
This article was first published on Doximity's Op-Med on 10/29/2019
This is part three of a three-part series which provides business tips for new NP entrepreneurs.
If you’re anything like me and love business, you also know that starting a business poses quite a few challenges. As both a nurse practitioner and business owner, I know from experience the many highs and lows which comes while trying to get a business off the ground.
In this three-part series I offer multiple tips for NP entrepreneurs who are just getting started. If you haven’t yet read the first article you can do so by clicking here. You can also access the second article in the series here. In this article we’ll be wrapping up the series with three more helpful tips for new NP entrepreneurs.
Define your brand
Your brand is the image that your business is giving out to the world. When people think of your business, what images would you like them to associate it with? Use this question as a guideline when you are creating your content. For example, your website, business cards, and social media presence should all be in line with your brand.
A word of warning: be mindful of the content, photos, and images that you put online. Once it’s on the Internet, it can never be erased. If it’s not in alignment with the brand that you’re trying to create, don’t put it out there. I see a lot of businesses post content online that is not in alignment with their brand, and this can be very confusing to consumers.
Know when it’s time to walk away
I’m not a quitter, however, I do believe that one of the keys to success in business is to know when a certain endeavor is not meant to be. If there is something that you are working towards that is not meant for you, it may be best to walk away from it.
It is important to realize that there’s a difference between stopping an endeavor due to it not being the right fit, versus quitting because it’s challenging. The latter should not be a reason to give up on your business. This often takes a bit of soul-searching to see if your current business is truly a good fit. If your business is not the right one for you, be grateful you realized it sooner than later as this will save you a lot of time, energy, and money.
Grow with your business.
When I created my first business I spent way too much money during start-up mode. I put a ton of money into a business that clearly was not ready for it. I skipped ahead of all the small things I should have been working on, and took on endeavors that my business was not ready for.
So what does this mean to grow with your business? Essentially this means to not put further resources into the business until the business is ready for it. This may mean taking baby steps for a while, but it’s much better to grow slowly, than getting in over your head.
If the business is growing, and therefore generating more revenue, then you can put more money and energy into expansion and growth. However, if your business is still in its infancy, it’s best to let it grow organically, and not force growth, as this usually will backfire.
Remember, starting a business isn’t for everyone, and you may have to do some soul-searching to see if this is something you really want to do. However, if you’re determined the be an entrepreneur, then know in your heart this will happen, it may just take time. I wish you the best of luck with your future business endeavors!