Scaling Your Senior Care Business

Growth vs Scale; Knowing the Difference

Making a Choice About Growth

  • Remain a small business and work unreasonable hours which sacrifice your mental health, profits and/or the quality of what you deliver,
  • Adjust your pricing model, or
  • Consider hiring more people and invest in other resources to add revenue and growth.

Growth as an Entrepreneur

Scaling Your Business

How to Scale Business Growth

  • Reduce the Cost of Your Product or Services
    In addition to reducing the cost of your materials, you could find cheaper sources of labor, negotiate better shipping rates, or find ways to reduce your rent or equipment expenses.
  • Invest in the Value of Your Product or Services
    On the flip side of reducing costs, you can invest in making your product better. Perhaps you can add more features or capabilities, increase your level of service, or train your employees. Such improvements would allow you to charge more, which should boost your bottom line.
  • Build Strong, Efficient Internal Processes and Procedures
    Nearly every area of your business could benefit from establishing repeatable, predictable processes and procedures. For instance, in your finance and accounting department, ensuring that you bill customers automatically and impose penalties for late payments could save you money. Or you could create an expense reimbursement policy instead of leaving spending decisions to the discretion of your employees.
  • Invest in Productivity Enhancing Technologies
    The right tools can significantly improve your productivity. For instance, with the right technology, you can track customers throughout their life cycle with your company. Besides making your marketing and sales efforts more effective and efficient, such investments can also flow through to your customer service team. This will allow them to present a more unified presence to your customers, improving your reputation.
  • Allow for Specialization
    Hiring full-time employees and expecting them to be a jack-of-all-trades isn’t always cost-effective. Such practices can lead to costly errors and burn-out. Instead, consider hiring specialists to lighten the load and improve your efficiency. If you don’t need (or can’t afford) to hire full-time specialists, outsource some work to freelancers. That way, you can get the expertise you need at a lower cost.

In Conclusion

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