‍The Difference Between Us and Them

The difference between nurses/nurse practitioners and them: 'business people, entrepreneurs, investors, and I would argue, physicians', is that they understand and put into practice the business of relationships.

Physicians

Let’s start with physicians. As soon as someone states they want to be a doctor of medicine, they can easily find resources to support that mission. They can find physicians, pre-med organizations, and communities of other students who are willing to mentor and support their dream. Many physicians will maintain those communities of support decades into their career. They will have a mentor who will continue to provide tutelage even once that mentor has stopped practicing.

When you hear physicians speak, they consistently speak to one another, not the general healthcare workforce. Particularly, in dermatology, you will find they take full advantage of being a member of professional organizations and nearly every dermatologist is a member of the American Association of Dermatology. They are not just paying for resume credentials, they are actively involved, attend conferences, and proudly promote the mission of the organization. They don’t have to be told the value of that unity. There is a culture of community.

Nurse Practitioners

In nursing, we have preceptors, clinical instructors, and colleagues who will orient us to the practice site (not so much to the business of being a NP). All of those roles have expiration dates. Of course, we can all name one nurse or someone we know who became friends with their preceptor and thus maintained a relationship long beyond the expiration date. But that is not nursing culture and it is not the same as a community of mentorship.

In nursing, are often told to find a mentor and the significance of it. However, the person telling us that does not freely offer their mentorship services nor do they tell us the steps to find one. I want to change that and while I’m on the topic, I will gladly mentor anyone who needs it, regardless of age, experience, or career choice. If I’m not the right fit, I will gladly find you someone who is.

Entrepreneurs

Business people and entrepreneurs are well known for finalizing big deals on the golf course, during a sporting event, or in the locker room. In nursing, aside from conferences and the structure of academia, we do not have traditional settings in which deals are crafted or closed. This is especially true if you identify as a nursepreneur or nurse entrepreneur. In fact, as soon as you realize you have desires to pursue business, the first place you might look for an example or assistance may be outside of healthcare and definitely, outside of nursing. I believe it doesn’t have to be that way.

Business Strategists

Irnise Fennell Williams, JD, RN

Irnise Williams, JD, RN is a registered nurse turned healthcare and regulatory compliance attorney. At the time of this writing, she states she has been a registered nurse for 13 years and an attorney for 7 years. She is a graduate of Howard University and Howard University law. She offers legal counsel according to federal and state regulations. She is licensed in Maryland, and works with firms in Georgia, New York, and North Carolina. Her services include, but are not limited to:

-Healthcare Business Starter Kit

-66-Day Business Bootcamp

-Coaching or Consulting Starter Kit

-How to Guides: Free Resources for New Business Owners

-Instagram https://www.instagram.com/yournurselawyer/

Barbara C. Phillips, APRN, GNP, FNP-BC, FAANP

Barbara C. Phillips, APRN, GNP, FNP-BC, FAANP is 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 a 15-minute strategy session, 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.

Instagram https://www.instagram.com/barbaracphillips/

Podcast https://npbusiness.org/category/podcast/

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Justin Allan, MSN, FNP

Justin Allan, MSN, FNP is the owner and author of The Elite Nurse Practitioner. He’s been practicing as a NP for more than 8 years and now earns more than $450,000 annually using his Elite Nurse Practitioner Model. He offers several resources including a blog rich with business strategy, a podcast where he shares live consultations as he helps NPs troubleshoot business problems, courses to support NP niche practices, and a list of preferred vendors. More importantly, he has created a community of like-minded NPs who can lean on and learn from one another. I am one of them. Additional resources include access to:

-Physician Collaborator Network

-Discount Labs

-Website Design and Search Engine Optimization

Mike Woo-Ming, MD

Dr. Woo-Ming, MD (the BootstrapMD) is a graduate of the Mayo Clinic and has been an entrepreneur for more than 20 years. He is the creator of Bootstrap MD (the brand and podcast) and the author of The Positioned Physician: Earn more, work smart, and love medicine once again. He participates in think tanks and encourages clinicians to network with others outside of healthcare to gain valuable skillsets and new perspectives, as well as set yourself apart from others in your industry or niche. You can contact him if you’re interested in the med spa industry, business strategy, growing a coaching business, starting a cash pay practice, or discussing your ideas about entrepreneurship. He recently started inviting people to visit his office to asks questions and help them in their entrepreneurial journey. He reports the people he’s helped have gone on to:

-Start an online businesses

-Write a book

-Build a boutique practice

-Develop medical apps

-Become a paid speaker

Lou Hutt

Lou Hutt is the CEO of the Hutt Company, Certified Public Accountants, LLC, and the Hutt Law. He can also be found on YouTube and SiriusXM radio. Hutt and his team offer a large menu of 30 services for financial coaching, business planning, and accounting. You schedule a phone call with him, it lasts about 20 minutes. During the call he’ll inquire about your personal and professional circumstances from a legal standpoint, and the services you’re interested in. From there, he’ll make a recommendation for the best package to meet your needs.

I spoke with Lou at the end of last year. The package he offered me included business coaching as well as personal financial consulting/coaching with 30 menu items ranging from business development to tax efficient retirement savings along with an overall personal financial review; strategic tax planning for the tax year with special attention to tax law changes that could impact me/my business directly and indirectly; a comprehensive review of my most recent annual income tax filings; and preparation and compliance review of my personal and businesses tax returns. The latter covers sole proprietorships or single member LLC's only. Tax return preparation involving any additional businesses would be handled as a stand alone project with an approved separate fee. 

If you choose to work with Lou and his team, you’ll be assigned a professional team (that includes Lou) and a client service liaison. Documents and records are exchanged through a secure online portal, and by email if necessary. Phone calls will take place periodically to discuss work in progress, highlights, insights, and recommendations. The fee is pretty comparable for what other attorneys in the DMV area charge for estate planning, which typically does not include business strategy, a menu of 30 items, a working relationship, or a team of leaders to support you. A retainer is requested after the initial meeting and the remainder is paid in full after tax returns are completed.

Earn Your Leisure (EYL)

Earn Your Leisure is a podcast turned media platform started by Rashad Bilal (a financial advisor) and Troy Millings (an educator) from New York (and their friend Mike). Over the last three years, they’ve achieved extreme success by staying true to their mission; catering to an often overlooked and underserved community thirsty for knowledge; and aligning themselves with key people of influence. One thing I love about them is they are not afraid to partner with successful people. They recognize there is plenty of room at the top and they can go much further together, than alone. I believe aspiring Dermatology Nurse Practitioners could use them as a business model, particularly those of us invested in Skin of Color and improving health inequities.

They have amassed an impressive following and have more than 1 million subscribers on YouTube alone. Their commitment and humility have helped them become thought leaders, highly-sought out business partners and investors, and pioneers in financial literacy. Many have argued they are now gatekeepers which has attracted billionaires and millionaires to their interview seat to strike up a conversation and negotiate deal after deal.

In addition to their podcasts, Invest Fest, and multiple businesses and partnerships, they created EYL University. EYL University is an all-inclusive educational platform that leverages a community-based approach to learning. It houses everything you would expect from a learning institution and more, including instructors who are actively working in the field. They are unique in that they provide actionable steps you can take today to execute a vision and business strategy. They help you identify 7 streams of income needed to build wealth and teach the important components of business as they learn them. While they have garnered massive acclaim, they have simultaneously helped elevate other talented individuals by harnessing their assets and sharing the EYL platform. In just a few short years, their brand has grown to include:

-EYL

-Invest Fest

-EYL Health

-EYL Trucking

-Earn Your Leisure Network

-Earn Your Leisure Vending

Dermatology Nurses Association: Nurse Practitioners Society

The DNA’s Nurse Practitioner Society was started to promote excellence in dermatologic care through education, networking, and professional support. As it stands at the time of this writing, this arm of the organization is not as active as the dermatology nurses’ mission. There is a private Facebook page that requires approval to gain access. I just recently requested access and upon entering the group, noticed participants do not leave messages or responses regularly or recently. However, given the number of nurse practitioners I’ve come in contact with in the last several months pursuing businesses to treat medical and cosmetic dermatologic concerns, I know a place for us to communicate is desperately needed.

I’m using this article as the first step to marketing the private Facebook page which could be used to help us leverage all of our expertise and collective power. Most of us are DNA members, and this is definitely a perk to membership. At the time of this writing, membership to the DNA NP Society is $165 and benefits include:

-CE discounts

-Access to the DNA Focus newsletter

-Access to the bi-monthly Journal of Dermatology Nurses’ Association

-Discount on Scope and Standards of Practice

-Eligibility for scholarships, grants, and certification

-Access to SkinSAFE, hotel discounts, and a discount for VisualDx

-Affiliation with a national, well known, respectable, credible dermatology organization (a priceless asset when you’re an aspiring Dermatology NP, entrepreneur, and not affiliated with an organization other than your own)

I have some books to recommend for business strategy, but I’ll save that for a future article. Join the Mahogany Dermatology community and follow me on Instagram to be notified when that article is published. Also, if you are a member of the DNA’s NP Society and you haven't requested to join the private Facebook page, do so today so we can start mastering the art of networking and capitalizing on the business of relationships.

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 business of dermatology and their role in improving access to care, providing culturally competent care, and advancing education.

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