3 Things I Wish I Knew Before Starting In Assisted Living
Assisted Living Network's Podcast
Release Date: 12/17/2018
Assisted Living Network's Podcast
The number one reason to have a business plan is for you, so that you have clarity of vision of who you are, what you're doing and where you're going. The second reason for a business plan is to help raise capital. No private investor or a lender is going to give you the money you need without a business plan.
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You can turn your home into senior housing anywhere from independent living up to Assisted Living. Independent living is senior safe. I mean grab bars, smoke detectors, wider doors, trip hazards removed. That home itself maybe has four bedrooms.
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As our family ages they start to need more. Their independence is gone and they don’t want to admit that they may not be capable emotionally or physically.
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A long time ago Assisted Living meant a big institution. Today it is completely different. When you think about living at an Assisted Living home, it has all of the comforts of home and there's other people in that home.
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Offline Marketing is having brochure, flyers and business cards. The brochures should match your website and your online presence. You only get one chance to make a first impression.
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Hospice provides benefits for people at end of life care.The money that pays for it is provided through the government, which comes from our tax dollars.
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You probably haven’t even considered putting mom or dad into a home. You just got to a point where it was harder than you thought and you didn't have the time, the skills or maybe the heart.
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Learn from other people's success. Learn from other people's mistakes. Learn from other people's experience who's actually doing it, not just talking about it.
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20 years ago when we first heard about assisted living, we all heard about the silver tsunami that was coming.They were sharing it from the business perspective but there was nobody there to show how it's done.
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You're going to work at something, you're going to get good at something, the question is what. And what are you willing to do in order to get the return that you say that you want?
info_outlineLearn from other people's success. Learn from other people's mistakes. Learn from other people's experience who's actually doing it, not just talking about it. The most expensive lesson is the expense of doing it ourselves, getting to the end and saying, “I wish I knew that before I started.” You could save yourself a lot of money, but if you save yourself weeks or months or years. Saving time is even more valuable than saving money.
When you have a business you typically have standard operating procedures, SOPs. In Residential Assisted Living, we call those policies and procedures. It covers everything from bringing somebody into the home, medication management, menus, scheduling of the caregivers, record keeping and everything in between. Even checking a resident out of the home.
Lastly, you have to have backup plans. So that when something doesn't go right what's the backup plan? What do we do in every situation? If this doesn't work, then this is what we do next. How are we going to do this if we can't get it done that way? If you have systems in place and you have the backup redundancy, you can pretty much handle anything that comes your way in Residential Assisted Living or virtually anything that you do.