285: How to Start a Super Crazy Business and Go PRN Clinically – Part 6
This has truly been an amazing series. We started out talking about how to go about creating your business, now let’s get into the nitty gritty. Contracts, taxes, and making sure that you’re setting yourself up for financial and mental success.
First things first, taxes. I know. It seems super scary to have to step out and handle your own taxes rather than being paid through a W2 and just having them taken out. But here’s the deal, if you create a financial plan and remember to simply put back money for taxes, you’ll be fine.
In fact, knowing that you need to take out money for taxes and insurance, use this information going into your contract negotiations. Don’t short yourself and later realize that you didn’t think of those expenses. Before you ever leave your current job, ask for the information on what you and your employer pay and then factor that into your contract rate.
Also, don’t be afraid to have someone who is well-versed in medical contracts go over yours before you sign. You have the right to have the contract reviewed to make sure it says and covers exactly what you think it does. Protect yourself and know your rights.
The only person who is negotiating for your life and career is you. Know what you want in both and make sure that you only settle on things that aren’t non-negotiables.
Listen in to hear all of my tips and advice as well as my responses to questions I’ve received as this series has progressed! If you want to change your life, then listen to the whole series and really think about whether or not this is the right route for you!
“If you don’t ask, it’s an automatic no.” Dr. Errin Weisman
In this episode:
[02:12] Welcome to the last installment of this series!
[02:38] I want to talk about taxes first, the differences between being an employee with a W2 and a contractor with a 1099 form.
[06:30] Use this information as a tool when you go into negotiations.
[08:08] Now let’s talk about contract reviews.
[08:31] Make sure you ask for what you want. The worst thing that can happen is that they will say no.
[09:14] Find someone who specializes in contracts to go over your contracts.
[10:16] When it comes to negotiations, the only person who is going to negotiate your contracts is you.
[11:38] Marketing strategies are a very important part when looking for PRN work.
[12:01] Get on LinkedIn when looking for PRN work.
[12:44] If you are thinking about coaching, come over to Physicians Coaching Alliance.
[13:19] Listen as I share the two different timelines you need to make.
[14:35] Diana wants to know how you balance clinical PRN work with starting your new business?
[15:35] Delegation and outsourcing is an important component when you are working PRN, launching a new business and spending time with your family.
[16:38] It’s so important to minimize the parent’s guilt when you are making this transition.
[18:23] If this series has been helpful, let me know.
[18:52] Thank you for listening!
Links and Resources
Episode 273 Quitting Your Job Almost Guilt Free
Episode 178 Empowerment with Anu Murthy
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- Buy my Kindle Book, Doctor Me First, on Amazon
- Join us for our Monthly Burnout Masterclass Series.
- Sit with me in my Slack Channel.
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