There are a lot of business ideas in the world, and many will never see the light of day. If you’ve had a taste of prenatal, labor and delivery, or postpartum support services, then you know how detrimental these services are for women. Your dream of starting a successful midwifery business is achievable, and we discuss some of the first steps below.

Create a Vision and Mission Statement

A pivotal moment in your business coming to fruition is your ability to sit with your goals and define what it is you’re seeking from the venture. Whether you go into business with a partner or go at it alone, sit down and spend some time creating your midwifery business vision and mission statement. These two things can assist you in receiving potential startup financing and giving the business a clear path.

When you can show conviction, intense interest, and a deep desire to excel and perform in your business, you are more likely to receive the praise and support necessary to become successful. The mission statement you set out can be the passage of your business. This is the snippet of information that your future patients will use to decide if your midwifery care and support align with their personal visions and needs.

Consider Your Initial Expenses

The initial expenses for any business venture can bring great struggle for entrepreneurs and owners. Before you can declare your midwifery a successful undertaking, it’s ideal to consider your initial expenses and determine how you’ll achieve these needs. There are various professional midwifery supplies you need to invest in, and while it might seem like you can cut a financial corner, it’s best to invest right to ensure quality.

You can find cost-effective supply kits through professional medical suppliers that help you stock your practice with a range of products and assist in your ability to offer exceptional mother-baby care.

Identify Whether You Have a Target Audience

Like any business, you should think about identifying your target audience—and yes, expecting and delivering mothers are groups in this audience. But you can continue refining these audiences through various avenues. Some things to ask yourself to bring clarity include the following questions:

• Are there parameters around the delivery location?
• How natural are you willing to make your practice?
• Are you offering comprehensive postpartum support services?
• How will your patients pay for services?
• What types of insurance plans will you accept or not accept?

These questions are all critical to understanding because they help hone in on mothers of specific socio-economic categories. Where one midwifery business may not have any guidelines, another may have a few that better suit their state or local guidelines. How you design these policies will define your audience, and it’s ideal to be transparent about each notion.

Declare Your Business a Legal Structure

Declaring your business a legal structure makes things more official and is the most necessary step in ensuring you achieve success. Simply having an education, finances, and support is not enough to earn patients.

Another important feature of declaring a legal structure is removing yourself from the possibility of personal liability. Many things can happen, birth is unpredictable, and emotions can run high. You may be held personally responsible if you’re not a legal business and someone were to sue you or your practice.

Don’t Forget the Tax Structure

Once you declare yourself a legal business, don’t forget to register for taxes. This is a critical step in becoming a successful midwifery business. Without these filings, you risk litigation. It is free to register for an EIN, and this will catapult you into your tax registration process.

You must factor in all local, state, and federal guidelines and the type of taxes based on your business structure. Ultimately, you don’t want to pay too many taxes by registering your business incorrectly, and you don’t want to risk paying too few taxes and being held responsible down the line.

Receive All the Necessary Licensing

Upon declaring yourself a legal entity, you must obtain and process all the necessary licensing and permits. This includes licensing for your physical practice, even if you work out of your home.

These licenses and permits will also include local, state, and federal adherences and help you attract patients on the foundation of legality and intent. A birth center space also needs to meet various ADA accommodations, house certifications for medical ethics, and a code of conduct, in addition to meeting small business parameters and standards. If this process becomes challenging, refer to your mission statement to remind yourself why you do what you do for women and mothers.

Protect Your Asset

As mentioned above, anything can happen, and birth is unpredictable. Loss, suffering, and heartbreak can occur without anyone to blame. But as the business entity practicing medicine and housing the authority to assist women, you can and will be the one to blame when things go south.

Investing in business insurance with multiple coverage areas can ensure you are safeguarded from personal liability and protects your business in case of litigation or consequences. There is a range of policies and protection plans, so do your due diligence and shop for the best coverage and affordability.

Staff the Business With Educated Individuals

After handling the legal side of the business, it’s time to establish the staff. Your staff will play monumental roles in how successful your midwifery business will be, both now and in the future. It would be a complete disservice to your vision and mission statement if you hired industry professionals who lack the experience and education necessary to support your business goals.

Additionally, you must remember that these individuals are working with the patients directly, and your practice could be held legally responsible if the relationships turn bitter. Spend a healthy amount of time investing in your hiring process and ensure everyone receives the education necessary to practice medicine in any capacity.

Also, consider their ability to work as a team. Your business’ capacity to foster a healthy work environment will depend on everyone’s ability to connect, work together, and professionally communicate for the sake of the patients.

Are you ready to take your career to the next level? There is a lot of hard work and determination in midwifery, but the rewards are most definitely worth the effort. Equip your new business with the tools, supplies, and devices necessary with Cascade Health Care. We are the trusted supplier for your venture’s needs!