By Stephen Tweed
The year 2021 will present a huge growth opportunity for home care companies coming out of the 2020 Crazy Covid Crisis. All indications are that companies who have a solid foundation and clear strategies for growth will be able to scale their business this year.
Yesterday, we had a wonderful opportunity to host a panel of home care owners and CEOs for the 2021 Home Care Pulse Growth Summit. This online video conference went out to over a thousand leaders in home care. Our panel focused on four specific lessons for scaling your home care business.
Our Panelists are Mastermind Members
The three panelists who share their insights for scaling their businesses were:
Kyle Bossung, CEO, Senior1Care, South Bend IN. – https://www.senior1care.com/
Krystal Wilkinson, CEO. Adult Care Assistance, Tucson, AZ – https://adultcareassistance.com/
Allen Serfas, CEO, Assistance Home Care, St. Louis, MO – https://www.assistancehomecare.com/
Kyle is a member of our Top 5% CEO Mastermind Group, Krystal is member of our Top 10% Group, and Allen is a member of our Top 7% Group
Insights to Scale Your Business
Over the past 9 years that we have been leading these Home Care CEO Mastermind Groups, we have learned a number of important lessons about growing a home care company. For our panel discussion, we explored four lessons:
Have a Huge Vision – When you have a clear mental picture of the company you want to build, then you can communicate your vision with your team members and work together to achieve it. Each of our panelists has a very clear vision of the company they wanted to build when they started.
Be a Systems Thinker – The leaders in home care are systems thinkers. They define the specific task in the business that are repeated frequently, and they develop people and processes to repeat those tasks consistently. At Leading Home Care, we have identified twelve specific systems that you can create to scale your business:
- Sales System
- Marketing System
- Inquiry Handling System
- Recruiting System
- Employment Compliance System
- Retention System
- Scheduling System
- Care Coordination System
- Payroll System
- Billing & Collection System
- Metrics tracking System
- Financial Reporting System
You can’t build all of these systems at once, so set your priorities on your strengths and go with what you do best. Then work on the systems that are more challenging for you.
The Company that Attracts the Best Talent Wins in the Marketplace – Every home care company in the world is facing the caregiver recruiting and retention crisis. Yet these leading companies are able to grow by regularly recruiting new caregivers and retaining the ones they have hired. This process begins by hiring top talent for your office team, and then putting in place processes for finding and keeping caregivers.
Use Benchmarking Data to Drive Strategic Decisions – One of the most common topics of discussion in our Mastermind meetings is about how members track metrics, measure performance, and use data to make strategic business decisions. All of our members have a clear numerical picture of how their business is doing, and our mastermind groups collect benchmarking data so they can compare results and discuss solution.
We encourage every home care company to participate in the Home Care Pulse Benchmarking Study, and to use that data to make better decisions.
For more information on all of the programs presented at the Home Care Pulse 2021 Growth Summit, visit their web site.