From Nurse to Entrepreneur: Building Your Path to Success - Episode 41 (Classic Episode)
In another heavy hitting episode we're bringing back today, we're joined by the incredible Dr. Jessica Chung, a trailblazing nurse practitioner who dared to dream beyond the confines of traditional healthcare. Together, we delve into Dr. Chung's remarkable journey from nursing school to becoming a successful entrepreneur in the medical field. She shares her personal story of stepping out of her comfort zone and taking bold risks to start her own practice, all while imparting invaluable lessons and strategies for nurse practitioners looking to make their mark in the world of business. Dr. Chung's insights on negotiation, leveraging opportunities, and embracing change are both practical and motivational, making this episode a must-listen for any nurse practitioner or professional aspiring to forge their own path to success.
About our guest:
Dr. Jessica Chung opened her own private practice, J.C. Healthcare & Associates in Tampa, FL. Now she trains others to explore their endless potential and trains advanced practice nurses to open med spas, specialty clinics, and concierge services. If you are interested in providing services like IV Hydration, alternative medicine, and DOT physicals, Dr. Chung is your girl.
Please join me here, and follow me on social media, Instagram, and Facebook.
Need help getting started on your path to financial freedom? Start Here
Join the Financially Intentional Community
Oh and please subscribe and leave a review on whatever app you're using to stream this podcast.
Get my book Smart Money
Subscribe & Review
Love this episode? Please subscribe and leave a review on your favorite podcast platform.
TRANSCRIPT:
[00:00:00] Naseema McElroy: I am super honored to have Dr. Jessica Chung join us on the Nurses on Fire podcast. Hey,
[00:00:09] Dr. Jessica Chun: Jessica. Hey, Nesima.
[00:00:14] Naseema McElroy: And Jessica has an extraordinary story of how she was able to start her own practice as a nurse practitioner and is teaching others how to do so Jessica, tell us how you got started in nursing and then we'll
[00:00:26] Dr. Jessica Chun: talk about where you are now.
Thank you. All right, so I got started and I was saying actually I had considered two majors while I was an undergrad and I'm probably like a lot of people. And I always, I knew I wanted to go into medical field. And so I considered pre med I did. I was a biology major. I did that for a year and I just wasn't feeling it.
It was, I wasn't feeling it. And then I was like, Oh maybe I'll do accounting. I'm good with numbers. You think I was good with math and numbers and science. I was always math or science. And I was like I don't know how to do with that. And so finally, I just made it was literally like a last minute decision.
To go into the nursing program. And now that I think about it, hindsight I did that. And that was all faith because I took all the courses, had no idea if I was even going to actually get into the nursing program. But lo and behold, I made it. I'm in. I'm, I made it through and I'm here now.
[00:01:31] Naseema McElroy: I love that.
I love that you started in undergrad and it's crazy because like you said, I was premed and then I didn't really know any nurses. And so I was just like, it's be a doctor, people are always pushing to be a doctor. So I was like, why would I be a nurse? And somebody was like, you should really get into the nursing program.
And I thought that they were insulting me. This is, 18 year old me, right? So I was like, why would I be a nurse if I was going to be a doctor? Like, why would you say that? But that was the last year that they offered a nursing program at USC. And I wish my roommate across the hall was in the nursing program.
And she's a DMP as well. And I wish I would have went to nursing school then. That's one of my biggest regrets. So yeah, same path, two different decisions. Yeah. You went to nursing school undergrad, but now you're a doctorate in nursing. Talk to me about that that
[00:02:22] Dr. Jessica Chun: journey. One thing when I went into nursing, I knew I wanted to be a nurse practitioner and my story was I actually was talking to a classmate in a biology class.
I believe it was. And he was telling me how his mom was a nurse practitioner. And I don't think I've ever at that time. This was, back in 2004 2005. I don't think I had ever heard of that. term, that profession, and it definitely wasn't saturated back then in the early 2000s. And I was like, wait, so you mean to tell me like, your mom's a nurse, but she could do things that physicians can do.
And I was like, oh, I like the way that sounds, I like that. So when I went into nursing school, I knew I wanted to be a nurse practitioner. That was, or at least I thought that was my end goal. . So I I prior I was a registered nurse for a couple years, not very long. I think I did nursing for about three years before I decided to go back for my master's degree.
So finally went back from my master's degree in 2013, graduated in 2015 with my concentration as a family nurse practitioner. And I thought I was done. I was like, cool. I got my master's. I'm a nurse practitioner. I'm going to go out, make more money, do what nurse practitioners do. And it wasn't until about a year later, I had a conversation.
Station with my pastor who encourages me so much and he was like, you need to go back for your doctorate. It's no sir . You dunno how much money I've spent. You dunno how many years I've been in school. You know how tired I am. I don't feel that calling. I don't think so. And as you can see, I listened.
I obeyed. And and I'm glad I did. So sometimes you need mentors, whether, career whether they're just coach mentors or even spirit, spiritual mentors. I am so glad that I went back because there's just opportunities and doors and open for me. And that because I have my doctorate, I was able to leverage that in so many ways.
That, that's how I made it here.
[00:04:39] Naseema McElroy: Yes, I love it. I love it. I admire you.
Getting a doctorate isn't on my radar. But believe me, it's been offered, but yeah I found that I'm an FMP as well, and I'm in California though, and it was just a real opportunity cost to actually work as an FMP because the pay is lower and yeah it's substantially lower in the clinics versus the hospitals just because of the way our unions are set up.
And I don't know. I don't like clinic work. So the only way that I ever saw myself being an FMP was to start my own practice, but when I was graduating from nursing school, I looked, I searched for resources on how a nurse practitioner can start their own practice and there was nothing there. There was like maybe this little ebook, like that was like a dollar or something out there.
I didn't really have that much information. And so I was just like, might as well just keep on making the good money that I'm making. And so I never even used my MP license and I graduated. Geez, almost embarrassing to say eight years ago with it. But you have. Solve that problem.
[00:06:01] Dr. Jessica Chun: You saw that there. I would like to say that I did for, at least for me, I would like to say I did. .
[00:06:08] Naseema McElroy: So tell us about what you help other nurse practitioners do.
[00:06:13] Dr. Jessica Chun: What I. Basically, and I have an upcoming workshop in April 4th, 2020 in Tampa, Florida. And basically what I'm doing is I am taking a year and a half worth of research, a year and a half worth of trial and error, a year and a half worth of saving.
And I'm just taking everything that I've learned from different places, different resources. And I am. Basically, just providing that to other nurse practitioners who were in my same predicament. Where, and I'm not gonna tell you, I haven't had a great career. I've had a position where, six figures was, that's easy.
There's no problem there. But. When you're starting to see how much time am I trading for this salary? Am I really making 60, 65, 70 an hour? If I add up all the hours that I'm working or am I making 30? Which I can go back to the floor and write three twelves and have four days off a week So I started to think about and I said you know in some cases it's not always about the money And you have to look at other things.
How are you trading your time for that money? And because time is money, right? And so I just want to Show other nurse practitioners that it is Attainable, it is doable and you just have to make a decision if it's for you, if you are okay working and climbing the ladder where you are, there's nothing wrong with that at all.
I just found an opportunity, a doors were opening for me and I was being led in this direction and it's definitely for me, it's definitely a dream come true.
[00:08:07] Naseema McElroy: So in helping nurses like have their own practice and start their own business, what are some things that you feel like will allow them to create their own financial freedom?
Like how is this different from working for somebody else or working just on the floor as a nurse, like going back to being a floor nurse?
[00:08:27] Dr. Jessica Chun: So one thing I am learning and I'm literally seeing this like unfold before my eyes every day is that there are so many opportunities that as a entrepreneur or business owner that you can create for yourself that you necessarily, you could do it working a full time job, but it, Would be a bit more difficult, but it's definitely attainable But I when you step into the world of entrepreneurship you create opportunities for yourself you can do things that Like for example me i'm doing things that I could not find on the internet.
I've researched i've looked for workshop Maybe a class that would help nurse practitioners start their own business and I couldn't find it. So Basically, what did I do? I created an hour Opportunity itself. And that's what I would say to someone who is a nurse who's still working on the floor or working a full time benefited job as to why would you go this route?
You can create opportunities for yourself. Who said that your salary had to be capped at 100, 000 a year? Why couldn't you exceed that? Who said that all you had to do was health care as a nurse practitioner. There's so much you could do. In terms of health care, who said it only had to be outpatient or hospitalist?
You can consult, you can do product reviews, you can do, Education to other health care professionals. There's so much that the industry can use from our knowledge as nurse practitioners, that the possibilities and opportunities are endless. Can you
[00:10:08] Naseema McElroy: speak to some of the things that you've been able to do just being a nurse entrepreneur?
[00:10:16] Dr. Jessica Chun: Make my own schedule. There's not one thing that I love. It's, I love to have my own schedule. I love to just do things when and how I want to. Now, does that mean I just feel like, oh, I want to wake up at 10 a. m.? No. Whether I'm actually going into the office or going into work or something I have a schedule.
I get up, In the morning, I do my routine, whatever it is I need to do, because one thing about being an entrepreneur, you have to have discipline. You have to have discipline, you have to know discipline, because or else you're gonna fall apart, your business is gonna fall apart if you don't have discipline.
But that's one thing I love, is that having more freedom of my time. There are days where I work more. Then I want to then there's days where I work less than I want to So it goes both ways but in the end, there's pros and Cons to everything and going this out for me. There's definitely more pros than cons.
[00:11:19] Naseema McElroy: So this is a financial podcast. So what are some money mistakes that you've made along your journey?
[00:11:26] Dr. Jessica Chun: Money mistakes. Oh boy. So let me just go back. Let's go back to the beginning. Go, let's go back to undergrad. So for the nurses that are in school, or even nurse practitioners going back to school, if you can, Get as much free money as possible.
If somebody would have told me, sit down and apply for some scholarships, let somebody else pay for your schooling, I would have done it. But, I didn't hear that a lot. And so therefore, I didn't know a lot about it. But I am... I implore those who are listening, get those. There are so many scholarships out there available, whether you're a woman, what, no matter what your race is, it could be because your great grandfather was Native American.
There are so many scholarships available. Get those scholarships and let somebody pay for your education. If you can graduate. With no student loans, you are already ahead of the game. Already ahead of the game. So that is definitely I wouldn't say it was a mistake. It was just a lack of knowledge that I wish I would have had is getting, free money for schooling.
Some other financial mistakes, I would say, I wish I was Had been more bold enough negotiating salaries in the past and even if I would have been shot down It didn't matter at least I would have tried but I wish I was bold enough more bold to negotiate salaries Because I look back on how much I've worked and how hard I've worked and I'm like, I definitely could have Made more money if or they definitely could have paid me more.
So that's another financial Mistake. I made don't be afraid to go out there and request that increase negotiate those salaries Don't be afraid to turn down an offer no people Are going, unfortunately we are humans and we will fall ill. We will get sick. Healthcare is not going out of business.
Okay. So I would say basically those are true. Definitely things I wish I would have done financially for
[00:13:43] Naseema McElroy: myself. And I love that you brought up negotiating for your salary because. A lot of people don't know. Usually if you have a staff position, those salaries are set, but especially as a nurse practitioner out there there's plenty of wiggle room to negotiate your salary and especially early on.
If you can negotiate early on in your first position, a higher salary, your floor is so much lower and it only goes up and know that most of the time when people are making an offer to you. It's the bottom of what they're, they have available. And so never be ashamed to ask for more, never be ashamed to be like, listen, I need to think about this and I'll come back.
Never be ashamed to turn something down because you're in fear of not. Being able to be employed because that's not the case, nurses are highly employable There's so many jobs out there and it's not a good fit for you Overall and that includes making sure that your financial needs are covered.
Turn it down. Okay And believe if they really want you they'll they'll court you and they'll try to get you back for what they for what? But they're what they can pay or what you want So I love that you mentioned that because just women in general, sometimes we don't negotiate. And that's what leads to a lot of the wealth, the gap between men are the wage gap between men and women, because there's this is what I need to get paid.
And I think we need to just come to employers with that same attitude. But I love it. I love it. So what like techniques or tools have really helped you in your career?
[00:15:21] Dr. Jessica Chun: I think the techniques and tools that have helped me is I. For me, it was watching other people who are not in my industry and learning from those people.
And I think we feel like, Oh, because I'm in healthcare, I should follow someone who's in healthcare also. But there are so many entrepreneurs that I get tidbits from. Daily that are doing things that are different innovative that are lucrative to their business and You just basically you take the base or the foundation of what they're doing their idea and then you Work it for yourself in your own business, whatever you are doing as an entrepreneur.
So Definitely that is a tool I use is that I will take Business ideas or just tips from people in different industries that has helped me a lot another tool, staying up to date with your industry especially health care because it's always evolving and overchanging and so You just you really have to keep up with the times especially if you want to be profitable if you want to be successful and for example these days Everyone is getting into telemedicine and I tried to shy away from it.
I was like, no, I need to see my, I need to see my patient office and oh, they got to come. And now I'm finding out I'm so busy. If you're ready, my patient, let's just do a video chat. We'll follow up on the video. It works for them. It works for me. They still get that personalized healthcare. So basically staying up with the changes in your industry, definitely especially healthcare has helped me.
[00:17:13] Naseema McElroy: Yeah, I just love the, that, healthcare is so dynamic, but there's so much opportunity to learn and grow. And just, I feel like there's limitless opportunities as a nurse and what you can do, but, just be open. And a lot of people are afraid of change, but change is where in changing is where you really find the most growth.
So I love that. Yes. So what other, you offered a whole lot of advice for future nurses, but if there was like one thing that you are not just for future nurses, but for a nurse out there who maybe a nurse practitioner who stuck in that clinic job chart in after hours, not being paid overwhelmed on the verge of burnout, what?
Is one tip you can give her. What's one actionable thing she can do that can really change her trajectory, her career or financial trajectory.
[00:18:14] Dr. Jessica Chun: You, you have to take a moment and step back and. Re evaluate why you decided to go into this career, into this profession. And I came to that a point in my career where I full time practice.
I was there full time and because it just wasn't, I felt like I was in a box and it wasn't really. I saw myself doing longterm. And so at that time I was working full time at a practice and I made decision to go back for my doctorate. And it was very hard, going to school full time, working full time.
So I made the decision and a lot of people probably think this is crazy, but I left a well paying. benefited position. I took a PRN position as a nurse practitioner and I just said, you know what? I need to make enough just to cover the cost of my bills at this time. I want to focus on school and I when I made that decision, that was a scary decision because I thought financially it would be hard.
But because I took that time to step back, reevaluate focus, I would say it was probably the best decision I made because who knows, school may have fell by the wayside if I would have continued working full time and the opportunities that I have now, where I am now may have not arised had I not made that decision.
So you definitely, if you are in that You, you have to step back, refocus, reevaluate, make some decisions and sometimes they're hard decisions, but you have to look at your long term goals versus the right here and right now.
[00:20:04] Naseema McElroy: I love it. I love it. And I'm sure that there are plenty of nurses. That can benefit from this. So thank you so much, Jessica. And also just share your social media handles where people can get in contact and follow up with you.
[00:20:17] Dr. Jessica Chun: Yes. So all my social media handles are dr. Jessica Chung. So dr. Jessica Chung on Facebook. Dr. Jessica Chung on Instagram. Dr. Jessica Chung on LinkedIn
and also www. drjessicachung. com.
[00:20:35] Naseema McElroy: That website, don't forget that. So thank you so much, Jessica, for Dr. Jessica Chung. To have respect on your name for joining the Nurses on Fire community. I love how you just You guys are so inspirational and sharing about how we have to invest in ourselves because, we basically have a blank check and we need to take advantage of the fact that we have so much opportunity and thank you for sharing your story.
And I know that through this workshop and through your platform, you'll inspire so many. So thank you again. For coming
[00:21:15] Dr. Jessica Chun: on. Thank you. Thank you so much for having me.
[00:21:21] Naseema McElroy: Of course.
Hey there I’m Naseema
My dream is for everyone to know that financial independence is attainable with a little intentionality. Learn how I can help you finally break the cycle of living paycheck to paycheck.
Join the Facebook Community
Join the Financially Intentional community and get access to resources to guide you on the path to Financial Freedom.
Watch these Videos To Learn How to…
Keep Listening
Here are some more episodes you may enjoy…
Our guest shares how he lost everything—his properties, business, and even his personal relationships—during the financial crisis. But that wasn’t the end of his story.