Building a successful business is hard and most don’t make it. Trying to build a successful business in the care sector is even harder.
There are so many challenges and obstacles to overcome, not least because most of your revenue comes from local councils and ICBs who do their best to persuade you to accept a lower fee than you need.
But succeed you can.
I know that it’s possible to make a success of your care home or home care service because many do, including our sister company’s nursing homes.
Key to that success is the presence of two vital elements…Certainty and Control.
Most businesses fail because instead of certainty and control they build their business based on hope and luck.
They hoped that what they’re doing would work and that, with a bit of luck all would be well and their business would prosper.
Building a business based on hope and luck is like building your house on sand. Its foundation isn’t strong enough to sustain it, especially when things go wrong, which they will.
Build your business based on certainty and control and you will build your business on a solid foundation, which will give it the strength it needs to grow and to handle those moments when things do go wrong.
Now of course, you cannot achieve complete, 100% certainty or control. We live in an analogue world and so there will always be an element of uncertainty and a lack of control. (None of us could have predicted the pandemic and war in Ukraine and its impact on all of us.)
But the difference is how much you reduce uncertainty and how much you are in control that you can influence.
In your care business you need to have the certainty of knowing what it is you need to be doing to achieve your goals. And you need to be in control to make it happen and keep your ship on course.
Establish Certainty and Control
I’ve carried out a huge amount of research over the years. I’ve looked at why businesses go wrong and I know that they do so because they lack these key elements.
But it’s all well-and-good me saying you need certainty and control in your business but what does that mean? After all, you can’t physically hold them or directly establish them. They are intangible elements.
You need the tangible equivalents.
I have identified 3 key tangible components that together will give you and your business this all important certainty and control.
You need to have the certainty of knowing what you need to do and how you’re going to do it – you need a plan – you need a strategy.
Control comes from you and your ability to implement your strategy, to make your care home(s) work and to keep your business on course – this is about your leadership.
To be able to step back and be the leader your business needs, you need your care business to run as efficiently and effectively, and with as little day-to-day input from you, as possible. You need systems in place.
Establish these 3 components or fundamental building blocks as I call them, in your business and you will have the vital ingredients, and the strong foundation, you need for success.
The first step to building this strong foundation and at the core of every successful business strategy is the vital need to make sure your business is financially healthy.
This is why I put so much focus on this and why I have written a report on this and developed tools that will help you make your care home or home care business financially strong enough to succeed.
Do you hope that your care business will achieve your aims and make it in the coming years, or do you want to be as certain as possible?
If the latter, then start here. Download 5 Steps to Make Your Care Business Financially Secure in 2023 and Beyond.
