Devin Haman in Forbes: 4 Things to Consider Before Starting a Medical Business
In this article for Forbes, BHRC founder Devin Haman begins by noting how many doctors don’t see themselves as entrepreneurs. He explains how entrepreneurship is a path many doctors take and breaks down four things to consider before starting a medical business.
1 – Don’t Expect Business to Stabilize Immediately
Starting a medical business requires you to put in less stable hours than you did at your regular medical job. You’ll work some early mornings and late nights. It requires long hours in the beginning but stabilizes eventually.
2 – Be Prepared for Your Income to Be Less Predictable
Your last job at a hospital or general practice came with a salary. When starting a medical business you have to accept you won’t have that steady of a paycheck ever again. On the plus side, you have the opportunity to earn more than you ever have.
3 – Do Everything You Can to Hire the Best People
There is a shortage of doctors and nurses, and it’s only projected to get worse. You need to make sure you invest in hiring the best team possible. The better your team, the faster your business will stabilize and turn a profit.
4 – Be Willing to Adjust Your Time Management Skills
The last bit of advice Mr. Haman had for doctors starting a medical business is to adjust their time management skills. When you are the owner of the practice, you have additional responsibilities that need to be budgeted into your calendar.
Check out the full article for more information on taking your medical career into the realm of entrepreneurship.