I frequently advise people who have debt and are having trouble making progress on paying it down to raise their income.  Starting your own business is one way of doing that.

Now nursing is generally a good field for getting extra work.  Overtime shifts are frequently available even in this time of budget cuts.  If they are not available, then a part-time job using your nursing skills, such as doing  insurance physicals,  or working in weight loss clinics may be an  option.

Another option is adjusting your shift so that you can work regular hours in another facility-such as working 2 twelves on the weekend twice a month-that can bring in almost 1,000 bucks a month.  A great way to make progress paying off student loans or other debts.

Another option, if you have an urge to be your own boss is to start your own business.  The types of businesses nurses have started are limitless.  You can start a home health or elder care business, and hire nurse assistants to sit with elders.  You can get into multi-level marketing if you have a salesman’s personality.  You can even start a franchise.

The secret to starting your own business is starting slow, making sure you understand the business completely.  As you have probably heard 4 of 5 new business’s fail-you don’t want to be one of them.   So do your due diligence, study the competition.  Volunteer to work for someone already int the business to learn the ropes.  Check with your local small business organization, or chamber of commerce to see if they have a mentor program for new start-ups.

The other precaution is not to go into debt to fund a business.  Save your pennies, start slow, and use part of the proceeds to grow.  Your uncle may have money he is willing to lend, but your holiday meal may be ruined having to look at his suspicious eyes if your business is failing that he “invested” in.

The public library has many resources and books to read on writing a business plan, marketing, managing personnel, so do your homework.

The advantages of being your own boss are numerous, but so are the responsibilities.  If you have started your own part-time business as a nurse, please send us your comments and suggestions for others.