This blog is dedicated to supporting those starting a senior care business and those interested in scaling their existing business. The senior care industry has been experiencing significant growth and is expected to continue to do so as life expectancies increase.
Why start a senior care business?
Why do people enter the senior care industry? Like many non-profits businesses, it is common to step into the industry because of a personal story. The mom with Alzheimer’s, the spouse with stage 4 cancer, the sister with Parkinson’s, the grandfather with PTSD from military time, and the list goes on. And like other relationships we have, a relationship with our business can feel very similar. It is exciting, we want to tell everyone about it, we want it to be successful, we are consumed in our thoughts and feelings about it, we can only see the positives. For companies that have figured out how to have staying power, the original reasons become a distant memory.
What is best for the consumer?
The differentiators in the senior care industry are many. First and foremost, entering the senior care industry may come with a personal story and purpose, however, that is not why successful senior care businesses succeed. We can keep that story in our memory or on a small piece of a website, or share it with our closest friends and family, however our customers and business partners will only buy from us if we put our money where our mouth is. What are you going to do for me?
Retaining your caregivers!
If you work in any caregiver business, your caregivers need to be convinced that you are going to make their situation a whole lot better! Caregivers are exhausted and highly skeptical shoppers. Commonly there are financial burdens, limited insurance coverage, family members disinterested in assisting, long distance care challenges. Caregivers are experiencing emotional, mental, physical and possibly spiritual demands, as a senior care business, we need to listen and not talk about our story unless they ask.
Be the pain reliever for the consumer and your employees!
Successful senior care companies are pain relievers! Listen for the pain and design the treatment plan to reduce and possibly remove the pain.Solving the pain requires thinking outside of the box! We eagerly want the business and obviously the financial rewards, however, the solution may result in a referral to another service provider. Successful senior care businesses create referral relationships early on. The complexities of senior care include the potential for numerous health care conditions that can change quickly.
Referral relationships are critical
Whether the older adult is living alone in their own home, they live with a significant other, they reside in senior care community, each presents with its own set of issues. In preparation for beginning a senior care company, owners should create a list of potential referral sources, schedule meet and greets, visit networking events geared to the industry. Possibly consider establishing a mastermind group with other industry businesses to explore more in-depth opportunities to grow, expand and succeed!
Keep checking in!
Every week, I’ll deliver you proven strategies for developing and maintaining a successful senior care businesses. Thank you for reading and participating! If you wish to participate on our blog? Contact us! 440-212-4987