To many people get “analysis paralysis” when they want to start a side business, buy real estate, or do anything else that requires some form of financial risk. This is especially true for the nurse practitioner who is thinking of starting a practice. Analysis paralysis can prevent you from actually pulling the trigger and making your life better.
What is analysis paralysis? It is what happens when an individual begins to overanalyze or overthink a particular situation which causes execution or decision making to be paralyzed, meaning that nothing ever happens.
Has this happened to you? It has happened to me multiple times in the past. You get a great idea for a business, project, investment, etc. and you decide to do your due diligence. Instead of actual action happening, you spend all your time analyzing everything and then talk yourself out of doing whatever it is you wanted to do.
We have all done this. It is one of the top reasons people never start a business. They begin analyzing every single small detail of the startup phase. Instead of DOING, they are stuck THINKING. Then they find nit picky reasons or develop fear to not act.
“I need to create this lengthy business plan first. So I will begin forming my LLC, then I will figure out which credit card I want, then I will need to create a spread sheet to keep track of expenses with that card, then I need to make another spread sheet for the bank account, then I will need to get my consent form reviewed by a lawyer. Oh wait, maybe I need to get a lawyer now, so I will call a lawyer first before I do anything else.” And on and on and on it goes…
I see this time and time again with people I have consulted with. They become PARALYZED to take action because they are focused on small details that don’t really matter. They email me paragraphs upon paragraphs about things that don’t matter! They are paralyzing their ability to move forward. Do you know what my response is to this?
Stop overcomplicating this. Stop thinking about it and instead get your ass out there and start!
That is the only way to start a business. You know when the best time to start a business is? Yesterday! You will learn along the way. You don’t need to have every single detail planned out and prepared. You will figure it out. Follow this step by step guide on how to start a business. If you do this, you now have the legal structure for a business. Find some generic operating agreement online and get the ball rolling.
You need to do your due diligence to a point with a medical practice. Follow state regulations and be done with it. Hopefully you are wanting to open a cash practice, which is very simple compared to insurance accepting ones. You can get the ball rolling much faster with a cash practice…
Do not focus on small details within the practice that don’t matter. Ask yourself “does this need to be done before I see patients?” If it doesn’t, then it’s probably not that important. Also ask yourself “If I didn’t do this, would I get in trouble?” If it doesn’t, then you don’t need to worry about it right now. Maybe later, but not now.
Do not analyze every detail. This will paralyze your ability to take action. If you begin to develop analysis paralysis when taking on a specific course of action, stop what you are doing, take a deep breath, and focus on the next STEP you need to complete to open the door and start seeing patients. Stop thinking, take action!
To many people who have a lot of potential never reach their full potential because they think themselves out of action. This happens with real estate deals, starting businesses, making investments, and various other “risky” endeavors. Do you know what you need to do sometimes? Just say screw it and dive right in. You will be fine, I promise.
The Men’s Health and Testosterone Clinic Course has been released! If you want a step by step guide on how to practice and open a men’s health clinic, this is the course for you. Check it out if you are serious about opening a high revenue side practice that can be done part-time! The majority of the analysis has already been done for you, all you need to do is implement it!