Tips to Succeed with Your Startup

The Residential Assisted Living Academy provides informative blog content to keep you up-to-date on the latest in assisted living. This week we have a checklist to help educate readers on steps you should take when starting a RAL business.  This checklist serves as a great to-do-list reminder. Here’s the catch, to-do-lists and frequent reminders are not the components that create successful businesses. 

So, what are the components needed to start a successful residential assisted living business? The Residential Assisted Living Academy has scripted a success strategy based on 16 professional tips. 

16 Tips for Starting and Succeeding in Your Own Business

  1. Know Yourself
  2. Choose the Right Business
  3. Verify the Market 
  4. Research Your Competitors
  5. Plan to Succeed
  6. Know the Operational Needs
  7. Don’t Procrastinate
  8. Start Small
  9. Know that Mistakes Will Happen
  10. Learn from Others
  11. Be Business-Minded 
  12. Be A Visionary 
  13. Network Amongst Investors 
  14. Put Yourself Out There 
  15. Embrace Digital Marketing
  16. Keep Learning and Trying New Things

Unfortunately, you will not succeed in business by merely completing a list of tasks. Nor will your business be a success just because you think it’s a good idea.

Keep reading to learn what will make or break your business. The following tips will reveal what determines if your business will succeed. 

Sixteen Tips To Starting A Successful Business

1. Know Yourself

It is imperative that you discover what motivates you. This will help you determine how much of your time, talent and treasures you’re willing to risk in order to achieve lasting success. Unquestionably, most business-minded entrepreneurs want to make millions. Although, most multimillion-dollar success stories start with sacrifice. What are you willing to give up in order to reach your goals? Money isn’t the only sacrifice successful people make. 

  • Experiencing long work hours
  • Being stretched out of your comfort zone
  • Balancing family and work

Ultimate success will demand that you keep your business plans balanced with your personal and family goals. It’s important to also balance your personal resources with your business assets. Knowing yourself is critical to success – always ask yourself, “What is my big why?” Most residential assisted living owners and operators share something in common. They started their business for an opportunity to make money while helping others in the process. After learning the details involved in the RAL opportunity, most people think this is just too good to pass up. So, what’s your motivation?

2. Choose The Right Business 

While most people are searching for the latest and newest business opportunity, it’s important to remember that new is not always better. One old formula still works – ‘find a need and fill it.’ If you aim to unlock the door of unlimited success, you must learn the art of finding a need and filling it. Needs generate income. As a result, accommodating needs build profitable businesses. Although, even with this thought in mind, no single business works for every entrepreneur. However, residential assisted living is a business that offers success to anyone with the drive and willingness to learn. 

3. Verify The Market 

Do your research. It’s important to logically evaluate your business ideas. Is there an actual market for what you are trying to achieve? Avoid making the mistake of assuming that because you like your own idea that others will too. Confidence is important – believe in yourself.  At the same time, minimize your risk for loss simply by taking a detour and doing your research, instead of making assumptions. 

The residential assisted living industry has fact checked the numbers and verified the need. With 10,000 seniors turning at 65 every day and 4,000 turning age 85, the need for RAL businesses are supported by the rising numbers. These baby boomers are sure to shape the next narrative of this country’s economy. The market for residential assisted living is verified as a rapidly rising tsunami of seniors heading for the assisted living market. 

4. Research Your Competitors

All businesses are sure to have competitors. Competition is another reason why research is important. Dig deep to discover everything you can about your competitors. This type of research will be required through the life of your business. This is one of the things we emphasize repeatedly during the RAL Academy training. Get to know what else is out there, how they operate, and what you can do to improve on it.

5. Plan To Succeed

If you’re not seeking investors or putting a huge sum of money into your idea, an elaborate business plan may not be necessary. However, don’t be mistaken, you’ll still need a plan. Identifying your goals, destination, and a skeletal layout of your roadmap will empower your business to develop and grow. As you learn more about prospective residents, competition and best practices, your plan is likely to change. Stay focused.

6. Know The Operational Needs

When starting a business, instead of only focusing on making money, train yourself to think about how the business will operate. Just a few basic examples:

  • How will service be delivered? 
  • How much support will be needed?
  • Will you need to accept credit cards? 
  • Will you invoice customers? 
  • Who will follow up to be sure you’re paid? 
  • Who will build and maintain your website and social media presence?  
  • How many employees will you need to hire? 

Even if you’re starting a small personal service business, these are operational concerns you should plan for in advance. When it comes to residential assisted living, these questions will be extensive. Fortunately, the experts at the RAL Academy are here to help you along the way.

 7. Don’t Procrastinate

People are often advised to ‘go slow and take your time.’ This causes individuals to run the risk of procrastination. The successful entrepreneurs have seldom had all the pieces in place prior to starting a business. With no uncertainty, you have to do your research, have a business plan, secure a tax identification number and meet other necessary requirements. However, aiming for perfection prior to putting your plan into action may result in the kind of procrastination that prevents your business from ever launching. 

8.     Start Small

Starting small allows you to take controlled risks. Testing ideas on a smaller scale, building what works, and tweaking what shows promise eliminates unnecessary risks. Contrary to popular belief, most successful entrepreneurs are not risk-takers. Starting small saves successful entrepreneurs from walking blindfolded onto weak limbs. 

9.     Mistakes Will Happen

Successful people learn from their mistake – they don’t get fixated on failures. Mistakes are going to happen, but don’t allow them to demoralize you. Learn and move on. Instead of pointing the blame, look for alternate paths or set more attainable goals. Instructors at the Residential Assisted Living Academy can help you minimize your mistakes. They share their own shortcomings and success tips during their 3-day training. 

10. Learn From Others

Mentors are priceless. In addition to mentors, network amongst like-minded groups to learn everything you can about the RAL industry. 

  • Attend conferences 
  • Join network groups
  • Take training courses 

Be sure to seek out RAL training courses that are conducted by experts. Learning from more experienced professionals in the industry will save you a lot of time and money. The Residential Assisted Living Academy has helped countless new entrepreneurs succeed. Learn from others by using their years of experience and hard work to make your journey easier and less costly.

11. Be Business-minded 

Successful business-minded entrepreneurs know how to keep business money separate from personal funds. They also understand the importance of keeping track of income and expenses. Invest time thinking about what regulations your business will need to adhere to. 

12. Be A Visionary 

Understand the difference between working for yourself and building an ongoing business. If you want to build a business, you need to develop systems and methods that allow you to hire other people to physically do the work while you map out the vision.

You limit the potential for growth if you don’t bring in other people to work for you. RAL owners enjoy the benefits of self-employment, but unlike other startups, you don’t need to learn everything on your own through trial and error. Visit www.RALAcademy.com to learn how visionaries can bring their plans into fruition. 

13. Network Amongst Investors 

If your new business venture requires investors to grow, you’ll need to connect with the right circle of people. Get to know investors. Local angel and venture capital groups are a good place to start networking. Start by attending meetings and joining groups. 

14. Put Yourself Out There 

Be a go getter. Ask for what you want. Being a good listener will actually help you create the kind of relationships necessary to get what you need. Remember, people like to do business with people they know. Get the ball rolling. Afterward, keep it rolling by repeatedly reaching out and introducing yourself to new people.

15. Embrace Digital Marketing

A comprehensive digital presence is necessary for small, large, local and national businesses. There are several components needed for digital marketing. 

  • Professional website
  • Email list 
  • Social media presence 

While word-of-mouth referrals are significant, a strong digital presence is necessary for your RAL business to thrive. Prospective customers are likely to look you up on the web before they decide whether or not to contact you. Special offers and practical information can encourage prospects to occupy beds in your residential assisted living home. 

16. Keep Learning And Trying New Things

Remain open to new ideas. So, don’t let yourself fall into the rut of saying “this is the way I’ve always done things.”

  • Are there newer or better ways to market your RAL home? 
  • Are prospects asking for something you’re not offering? 
  • Is there a different type of senior you should be targeting? 

Reading materials and listening to feedback from seniors and their adult children are the components needed to continuously learn and try new things. 

The Ral Academy Is The Best Place To Start 

The success of your residential assisted living business starts with learning the right information from the right resource. There are a lot of questions and answers that range from A-Z that the Residential Assisted Living Academy will help you explore. Join us today and get your journey started on the right foot. These 16 tips to succeed will motivate you to put the right practices in place; however, the RAL Academy has experts that will point you step-by-step in the right direction.

Considering Investing in Assisted Living? A Great Place to Start

Many of today’s baby boomers are facing the reality that their parents faced. A massive wave of seniors is coming, and their influence in every demographic shift is undeniable. These seniors are in need of assistance. Many people made plans as this particular generation holds to the mantra of “take the bull by horns.” However, sometimes the bull bucks the rider and these riders need care. As a result, many seniors find themselves in need of assistance with activities of daily living because of a variety of situations.

  • Knee replacement, which requires physical therapy.
  • Hip replacement, which can affect overall health and constitution.
  • Multiple falls, making it impossible for seniors to safely live at home alone.
  • Loneliness, leading to health deterioration after a spouse has passed.

Regardless of the reason, baby boomers do not like, nor do they want to live in nursing homes – they prefer a specialized environment. They want residential assisted living that is more like their own home, rather than a big box facility. This is why residential assisted living is the best alternative for millions of seniors. Did you know that 10,000 seniors turn age 65 every day and 4,000 turn age 85?

As these boomers continue to get older and live longer, the need for senior housing and assisted living continues to grow. The opportunity this provides for entrepreneurs, lenders, investors, equipment suppliers and support service providers is growing by the day and you do not want to be left behind. Let’s be clear – baby boomers will need assistance. They will only accept assistance on their own terms. They have dictated that the big box facility just won’t do.  So, what’s the alternative? 

Learn From The Best In The Industry

Owners, operators and investors get involved in the residential assisted living industry because:

  • They want to help families safely and reliably take care of their loved ones.
  • They want to provide great employment opportunities for healthcare workers.
  • They want to create an investment vehicle for themselves and their families.
  • They want to engage in meaningful real estate development.

The list goes on and on, but what is important is that the need is high, and there is a place for businesses to thrive in the residential assisted living industry. The American population is growing, specifically amongst the senior demographic. The needs of seniors, especially these seniors – the baby boomers – will mandate a shift in the way seniors are cared for in the golden years. Therefore, do not miss the chance to get involved in this thriving, growing, and booming industry.

The Residential Assisted Living 2020 National Convention will be another spectacular learning experience. The topics are broad and deeper, the presenters are captivating, and the participants are just out of sight. That’s you, by the way. So, join us this year as we cover a plethora of topics designed to make you as informed as possible.

Ral Nat Con 2020 Topics

  • Pro Marketing Tactics to Quickly Fill Your Home
  • How to Fund Your RAL Home
  • Learn the Ins and Outs of Placement Agencies and How to Use Them Properly
  • Keep Thorough Records of Medication Usage
  • Discover Solutions to Legal and Zoning Issues
  • Learn Best Practices for Finding, Training, and Retaining the Right Staff
  • How to be a “Hands-Off” Investor
  • How to Use Asset Protection Strategy
  • How to SAVE BIG on Taxes through Accelerated Depreciation
  • How to Best Prepare for an Emergency
  • Insure Your Home Properly
  • Add Value to Your RAL Home Through Consistency and Stability Tactics

The Residential Assisted Living National Convention is unlike anything you’ve experienced in the assisted living industry. Every year, business owners, managers, caregivers, industry leaders, vendors, and anyone exploring the RAL industry gather to learn new strategies, share best practices, and get important updates. Guests are also encouraged to network with these like-minded entrepreneurs in the industry. Join the 2020 convention by registering now. 

The Silver Tsunami Of Opportunity Is Here

With 77 million baby boomers in the country, this mega-trend cannot be stopped. The US Census estimates that 70% of aging seniors will need help with their activities of daily living. Where will these Americans find a happy and safe place to live their golden years?  It should be in your new residential assisted living home.  How can you make this happen? Register for the Residential Assisted Living 2020 National Convention

Starting in Residential Assisted Living: Social Marketing

As owners and future owners of residential assisted living businesses begin learning the keys to success in this industry, it isn’t long before you take into account the importance of marketing. Marketing matters. It may be obvious to many, but just like any entrepreneurial endeavor, marketing remains an important element in the success of the business. It is not enough to simply build an assisted living home, find qualified staff, and then just sit back and watch the cash flow come in. It requires marketing. 

Residential assisted living is a service, although an incredibly important and in-demand service, it is still a service that requires marketing. Just like any other service, the public needs to know that you exist and what exactly you have to offer. As you learn more about this amazing industry and navigate your path to RAL success, it is worth taking the time to process how your business will be made known to the public. Afterall, if you are going to put in the time to build or acquire a residential assisted living business and all that entails, you would do well to consider your potential marketing strategy.

Our RAL Academy instructors often advise entrepreneurs to look around at assisted living homes and facilities around the community to see how they are run and what they are doing to market themselves. What is working and what isn’t? Are there things that other assisted living businesses are doing that you could do better? Marketing is not guess work. Leave guess work for board games. Marketing is scientific. It is the nuts and bolts that drive the sales engine. Marketing brings clarity to an otherwise unclear attempt to reach the right people at the right time with the right product/service. If you want your home to be fully staffed, occupied and well respected, effective marketing is the wind that blows the fog from the path allowing business owners to see clearly what to do and when to do it. Marketing converts dreams to reality. 

Be mindful, many business owners desire their enterprises to be staffed properly, occupied fully and well respected in their communities, but have you thought why so many are not? The answer is simple: the owner probably played the guessing game instead of using the strength of proper marketing. So, what exactly should an owner of a residential assisted living home do?  Most owners are not marketers by trade or education.  How does an owner effectively market his/her residential assisted living home? To be clear, marketing is a science, but it is an adaptive one. As time ticks forward, an understanding of the consumer is vital because the mindset of the consumer changes. How so?

Staying Relevant Amid Consumer Changes

Many owners assume the way to reach the right customer with the right product at the right time is to market to the demographic for whom they desire to serve. In other words, in the residential assisted living business, many market to the senior who will become a resident. This is not altogether wrong. It is likely that seniors aren’t going out of their way to move into a residential assisted living home. It is their adult children who are often the potential client. If one has been educated by the Residential Assisted Living Academy, then a market feasibility study would have been done long before any construction or renovation of a RAL home. This study uncovers so much information about the community and the needs within it. It also details the challenges in erecting a residential assisted living home and approximately when one would be needed.  

Demographic studies are included so that the potential owner understands the “who, what, when, where and how” of doing business in a particular community. What does any of this have to do with marketing? The answer is simple. The market feasibility study will help focus an owner on the needs of the RAL home, and how the needs should be communicated. Many aging seniors do not use social media, but their children do. Therefore, traditional marketing strategies might be nice for grocery store shoppers, but social media captures the adult children.

In other words, the adult children of seniors are the people owners need to reach. They are the people who are asking:

  • Where should we place Mom?
  • When should we talk with Dad about moving out of the house?
  • How are we going to convince our parents that they can no longer safely reside in the family home of 50 years?

This conversation is being had by the children of Baby Boomers via text messaging, direct messaging through Facebook, Instagram and/or Twitter, and presently video conferencing via Zoom. What does that mean for the owner of a newly established residential assisted living home? If you are not advertising via social media, the key decision makers will seldom know your home exists.

The “Thirds” Marketing Strategy 

1/3: Promote Your Content

The easiest type of content to produce is promoting the brand of your residential assisted home. The stage of your home, whether new or renovated is inconsequential. Your home may have:

  • Added a new amenity,
  • Received a highly acclaimed award,
  • Hosted a special event.

This needs to be advertised and publicized with the appropriate angle that will benefit your establishment. You also want to engage the potential client by encouraging them to take action. This actions starts by encouraging consumers to visit your assisted living home web page and engage in the following steps:

  • Fill out contact information so you can keep in touch,
  • Click to call and learn more about your home,
  • Chat online with a specialist who can encourage a tour or virtual tour.

It doesn’t stop here, though. Content needs to be diverse in order to captivate the various learning styles of the potential residents.  

Content Ideas To Promote Your RAL Home

  • Blogs
  • Vlogs 
  • Press releases
  • Event Announcements
  • Photos of staff and residents
  • Video testimonials
  • Reviews

All of this content should be consistently promoted via Facebook, Instagram, Twitter and on search engines such as Google and Yahoo. There is a balancing act that must be performed with all of this information.  

2/3: Share Others’ Content

It is not just about your residential assisted living home. Today’s decision makers integrate information. They compare and contrast content as they seek to validate information. Therefore, do not be egotistical. It is important to identify and share content from other sources that is of value to your audience. You can then leverage that content to enhance your brand and stature as a subject matter expert. For example, you can provide links to reputable senior living resources. They should be:

  • Dependable
  • Chosen based on care types
  • Relevant topics to your brand
  • Topics that best align to meet the needs of your target audience. 

3/3: Interacting with Others

In the senior living world, it is important to engage potential residents and their families. Ask visitors for their opinions. Why? Today’s potential prospect wants to voice their opinion quickly and concisely. They want you to know what they think of your brand.  What’s the owner’s reward for creating an interactive platform for their residential assisted living home?

  • Community connection
  • Comments, likes, and shares

Stay on top of questions and any negative comments or reviews you may receive and respond in ways that reflect positively on your community. Marketers should think about how to use social media. Think about what attracts you and what is an instant turn-off. Furthermore, think about your parents, aunts, uncles or grandparents who may need to relocate to a residential assisted living home. How would you make that decision?

Social Media Marketing During The Pandemic

When COVID-19 hit and Americans began to quarantine themselves, what did they do? 

  • We reached for our phones.
  • We grabbed our laptops.
  • We started searching sites on our desktops and devices.

People found themselves spending countless hours liking and sharing funny videos on Facebook, even tapping that new “hugging heart” emoji to show everyone how much we care. 

Some even liked and loved content that they thought bizarre. People wanted to stay connected.  Humans are social creatures, not isolated robots.

So, are you formulating a plan to promote your future residential assisted living home adequately on social media?  

7 Effects Of Proper Marketing That Will Impact Where You’ll Be After Covid Is Under Control

  1. Increases brand awareness. Since your target demographic is visiting social media multiple times a day, you have numerous opportunities to connect with them.
  2. Humanizes your brand. Creates a more direct connection with prospects, residents, caregivers, the local community.
  3. Establishes your RAL home as an expert in your care field. RAL homes that do not post relevant content consistently will not appear as knowledgeable.
  4. Gives you better reputation control. Using social media, you highlight positives and address negative issues before they turn into crises.
  5. Provides a tool for crisis management. Use social media to properly and effectively respond to a crisis in a meaningful way.
  6. Helps get you more reviews. Facebook reviews are looked at by so many consumers prior to taking the next step.
  7. Helps increase website traffic. By sharing community-specific content, it drives individuals from social channels back to the website.

Stay Connected To Ralna For More Tips For Success

Social media, especially Facebook, is where your future prospects are going in greater numbers to dig deeper into your community. How will you seize the moment? Remember, it is only a moment. Today’s client/consumer exists in the moment.  You must seize the moment, digitally. RAL Owners and future owners are strongly urged not to waste another moment. The enormously increased activity of social media will likely go back to normal once COVID-19 passes.

Therefore, will you seize the moment? Will you be ready to promote your future residential assisted living home adequately? Will you engage potential clients/consumers where they are currently residing – in front of laptops and smartphones? Seize the moment. Remember, it is only a moment.Visit www.RALNA.com for more information.

Smaller Is Better In Assisted Living

The harsh reality today is that, in light of Coronavirus, more people congregated in enclosed spaces is proving to have devastating consequences. What about seniors in assisted living? The solution is simple. Smaller is better. There are many types of assisted living available, but what is the most beneficial for seniors, what do they prefer, and what is best for their health and safety?

Residential assisted living provides seniors care and assistance in a small, home-like environment. Instead of 50 or even 100 seniors in a large facility filled with nurses, care staff, and countless other support staff coming and going, residential assisted living homes primarily have less than a dozen residents with a couple caregivers and a manager.  If an outside observer was looking for a solution to keeping seniors safe during this pandemic, the choice would be clear – keep seniors in smaller home-like environments. This is usually where seniors prefer to live anyway.  Not only is residential assisted living an amazing financial investment opportunity, but the change that investors and RAL owners can bring to seniors’ lives is impactful and can’t be overstated.  

Covid-19 Primes Senior Living For Rise Of Small-house Models

America finds herself ensnared with the continuing pandemic of COVID-19. When considering what is best for the most vulnerable among us, sensible measures reap great reward. Isn’t smaller better?  Smaller what?  Smaller housing arrangements. Residential assisted living homes are clearly more ideal for the present condition of public health and affairs in America.  These homes are opposite the big-box like facilities so common across this country.  Plus, residential assisted living is more ideal to the way seniors prefer to live. For today’s baby boomer, residential assisted living reminds them of growing up as a child.  Big families, a house, a yard, neighbors to play with, games and barbecues, especially in the summer. As such, small-house senior living may be well-suited to handle the disruptions of the COVID-19 era. This may help boost the model’s popularity going forward — but the industry will first need to overcome obstacles regarding the way these communities are developed, financed and licensed.

According to Jim Stroud, co-founder of Capital Senior Living, after leaving Capital at the end of 2008, Stroud set out to find the next generation of senior housing models. “Let’s figure out what model we think that the baby boomers will move into,” he said. They aimed to discover a model that is flexible and resilient enough to withstand future change. Stroud told Senior Housing News, “We settled on the small-house concept.” Why the small-house concept?  It’s more like home. Stroud’s vision became reality in Sonoma House Assisted Living & Alzheimer’s Care, a community with seven small-house buildings in Carrollton, Texas. 

Sonoma House opened its doors in 2013, and in the years following, Stroud Companies spent time honing the community’s operational model. Now, Stroud believes the concept is ready for expansion. It’s only a matter of time before the “big-box” senior living companies embrace the small-house trend, too. “I’ve come from the big company mentality and understand it,” Stroud said. “The big companies are going to recognize this product type, and they’re going to recognize that smaller is better.” There is a sense that small-house senior living may emerge from the current era as a more attractive option, particularly if the model can prove its worth in preventing the spread of COVID-19.  Smaller is proving to be better. 

Small-house Success

There is evidence to suggest that these smaller communities are better equipped to prevent the disease’s spread. How so? For clarity, let’s examine some case studies throughout America to capture the effect.

I. Perhaps the most well-known example of the model is the Green-House Project, a nonprofit that senior living innovator Dr. Bill Thomas founded in the early 2000s as an alternative to traditional long-term care settings. Today, there are 268 active Green House homes in the U.S., about 80% of which are licensed to provide skilled care, and the overwhelming majority of them are nonprofits. Green House properties typically house up to a dozen residents living in homelike facilities with private rooms, and are staffed by “universal workers” who provide a wide range of services and care. Green House operates with the philosophy of:

  • autonomy for each resident
  • resident controlled care scheduling
  • resident driven meal planning 
  • resident selected activity schedule and activity choice

What is the impact of COVID-19 in Green House Properties?  

  • 9 out of 245 active Green House Project homes have reported a positive case of Covid-19
  • 6 deaths overall, according to Susan Ryan, the organization’s senior director. 

The smaller, less congregate nature of small homes is just one piece of the puzzle. The universal worker concept means the communities have fewer workers coming and going, and caregivers are able to develop much closer relationships with residents. This gives them an edge in detecting health issues or behavior that’s out of the ordinary. The intimacy developed in these types of homes gives way to better disease control and early detection of any sort of symptom. There are also numerous other senior living providers that have mirrored the approach in creating their own household models that aren’t officially affiliated with the organization. Though these vary in size and scope, most house no more than one or two dozen residents.  With a lower census and the greater capacity to social distance, smaller is better. Some of these small-house senior living homes have reported minimal levels of COVID-19 and have touted the model as key to their success. 

II.     Another example is Assured Assisted Living – a company headquartered in Castle Rock, Colorado.  To date their Covid-19 results are as follows:

  • 10 small-home communities in the Centennial State
  • 3 positive cases of Covid-19 among its residents
  • All 3 were asymptomatic, but were able to be successfully diagnosed
  • All 3 have since recovered

Again, Francis LeGasse Jr, President and COO of Assured Assisted Living, credits the smaller model as the reason for such early detection and swift response to the Coronavirus pandemic. And even if COVID-19 does hit one of its buildings hard, LeGasse is confident that having a smaller model puts Assured Assisted Living in a better position to adapt and address the health needs of its residents. In fact, Assured plans to use its COVID-19 success in a new “great things come in small packages” marketing campaign.

III.   Shepherd Premier, a McHenry, Illinois-based senior housing provider with five small homes, has not yet seen a case of COVID-19 among its residents or workers, according to CEO Brandon Schwab. Like LeGasse, Schwab believes the small-house model is much more amenable to infection control.

“When a home is 10 to 15 beds compared to 150 to 200, you can control the spread of anything drastically easier,” says Schwab. “I feel that this type of home is going to be the Uber of this particular industry.” In essence, Schwab is alluding to significant market disruption.  The small-house model will revolutionize senior living much in the same way Uber did the taxi cab industry and Amazon the big-box mall.   

IV. Boise, Idaho-based BeeHive Homes has:

  • 216 small-home senior living franchises across the U.S. 
  • a small number of positive Covid-19 cases among staff 
  • 1 case among its  residents
  •  0 deaths reported thus far. 

The model’s flexibility, coupled with its more intimate nature, helps with infection control measures, according to BeeHive co-owner Dennis Toland. It is becoming blatantly clear – the smaller residential assisted living home model works for more than agreeable housing.  It is safer.

Solution Vs. Problems

Among architects and even some developers, there is a sense that many senior living residents will take note of the small-house model’s success after the pandemic. Demand for residential assisted living homes will rise. However, the small-house or residential assisted living home model is not a “cookie cutter” model.  This concept is diverse. The small-house communities of tomorrow may resemble single-family homes, as many small-home communities do today. This is far from the only option, according to Dan Cinelli, a principal at Perkins Eastman. This concept of senior living fits anywhere in America. 

Truthfully, it is America. “It can be rural, it can be suburban, it could be a single-family home that’s detached, or it could be a vertical model,” Cinelli says, referring specifically to the Green House Project model. Residential assisted living homes are found in commercial zones as well as residential. They fit wherever they are needed. For instance, the vertical model may hold the most promise for shaking up the formula. Instead of arranging bedrooms throughout a single-story residence as many designers of small-house buildings do, architects of tomorrow may instead place them in buildings with multiple floors, with appropriate access like elevators, etc. Two projects Perkins Eastman shared as an example of this design.

  • a three-story small-house building at the Rochester Jewish Home in Rochester, New York
  • a four-story small-house building at the Goodwin House in Alexandria, Virginia. 

In both examples, residents live in spaces with private rooms and bathrooms, decentralized dining and other features that could help with infection control. COVID-19 conscience construction is crucial in the present day and will continue to be beneficial long into the future. The vertical model in particular could prove popular among senior living developers, according to Joe Hassel, principal and co-leader of senior living at global architecture firm Perkins Eastman. He says, “the vertical model is much more cost-effective in the sense of land utilization and acquisition costs.” With lower construction costs, the opportunity for investors becomes even more financially attractive. Two other projects in Dallas may also offer a blueprint for the way forward, according to David Dillard, principal with D2 Architecture. 

  • The Vistas at CC Young, a nine-story assisted living building
  • Ventana by Buckner, a 12-story continuing care retirement community (CCRC)

While neither fits the definition of a traditional small-house community, they do include many of the model’s core household-centric principles. Dillard says, “The small-house model was a solution waiting for a problem, and the problem is COVID.”   The model is not perfect.  It has its issues and challenges.  For instance:

  • Affordability of small-house communities
    • More of a boutique-style arrangement means boutique pricing.
    • Planning for small-house construction projects can be challenging.
  • Resident rooms are spread farther apart requiring more creative land uses and design considerations.
  • Small-house communities can be harder to license for senior living services.
    • Regulators don’t always understand the product type as well as assisted living or memory care. 
  • Stroud finds this the biggest challenge in growing the model – regulatory agencies.

“When you go to someone that has not dealt with a small house before, then you have to educate them,” Stroud said. But that doesn’t mean the model can’t adapt as challenges arise. Like the architects at Perkins Eastman and D2, Stroud believes a vertical small-house model could help bring about the product type’s next evolution. The broader campus model may be the most expensive and is the least feasible in urban areas. Therefore, towers with the neighborhood concept per floor are more ideal.

Assisted living providers will navigate the post-COVID world in a manner similar to how assisted living and memory care providers hammered out their model in the early 1990s. Larger senior living companies will embrace the trend eventually. What remains to be seen is whether they will forge ahead with stand-alone small-house models, or whether they will instead integrate those buildings and concepts into their existing campuses. Only time will tell. Meanwhile, smaller residential assisted living homes continue to thrive. 

Do Good And Do Well

Smaller is proving on a daily basis to be better. Care is better. Engagement is better. Above all else, safety is logically more feasible in these smaller settings. Residential assisted living homes are primed to take America into the future as the optimal senior living model. The Residential Assisted Living Academy has a proven model for success that teaches students how to do good by seniors and do well financially. Gene Guarino and his team of experts will walk you through the process from A-Z during his 3-day accelerated course. To learn more information or get assistance, visit www.RAL101.com and get ready for the next big investment opportunity of a lifetime. This winning business blueprint will help you get started and scale your business and profits. Use the right resources to learn a better way to launch a successful assisted living business. Simply put, smaller is better.

The Pivot from Wholesaling to Residential Assisted Living

Pivoting from wholesaling to residential assisted living requires looking at investing from various vantage points. 

There are two clear categories most investors fit into, the pragmatist and the opportunist.  

The pragmatist is by nature pragmatic – dealing with things sensibly and realistically in a practical manner.  

These people conduct business based on the information available and function well by doing so.  However, pragmatists often lack a dreamy spirit.  

Which means most of the time they are mission focused, not visionary-focused.

The opportunist is by nature – one searching for that which is coming, yet to be realized, in hopes of being the first to bring it to market.  

These people have pragmatic ways, but maintain an eye on what is coming, what will be needed, and who will need it.  

They are often early adopters and like the chance of bringing something to market first.

COVID-19 has changed America – essentially, we have been changed for good.  

There will be no return to the days prior to coronavirus.  

Truthfully, people tend to yearn for a “return to the good ‘ole days,” because they lack vision for the coming days.  

As an investor with experience in wholesaling, flipping, managing property, attempting to operate in the real estate market will be different.

Now, COVID-19 has made it an even more unique opportunity.  

Here is a public service announcement, there will be no return to the pre-COVID-19 days. Therefore, put on the opportunist hat.  

It has a far wider brim than that worn by the pragmatist, and it will certainly provide much needed shelter from the sun.

While resting under the brim of the opportunist hat, you will find opportunities.  

A skilled real estate investor will find their training and experience transferable into the wonderful world of residential assisted living.

Here, the experienced real estate investor will find helpful information to make a necessary pivot from the pre-Covid-19 days to the new world.  

Opportunities are abounding in the RAL industry and this is a great time to engage.

THE REALITY OF THE MOMENT

Clarity in this moment is essential.  The markets are turbulent, and the lack of expectancy is driving it.  

This reality is coupled with the personal challenges many American families are facing in terms of potential loss of jobs.  

Fear is governing many decisions being made right now.  

As a real estate investor, this present market situation is detrimental to the standard model of doing business.  

One cannot reasonably operate a real estate investment business successfully in this current environment for much longer.  

Traditionally, the seasoned investor would shift focus.  

  • Curb the level of renovation in homes purchased via wholesale.

a)    The idea here is to shave the cost of rehab to cover profit margins that will likely shrink upon sales.

  • Wholesale more homes as opposed to renovating.  

a)     The idea here is to avoid inventory, thereby reducing the chance of being stuck with a renovated home that cannot be sold.

  • Take the rental route.

a)     The idea here is to:

  • purchase cheaply, do minimal repairs and then rent it.
  • convert existing inventory into family rentals.
  • turn upscale inventory into Air B-n-bs.

b)     Essentially, become a landlord.

These shifts were successful pre-COVID-19.  Such shifts are not so ideal during this pandemic and may not be for many years afterward.  

So, what does a stellar real estate investor do in these times? First, you have to really see what is going on.  

Due to a plethora of reasons, actions and inactions of both the government and the citizenry, COVID-19 is actually gaining ground.  Here are some hard facts concerning May/June 2020:

  • High unemployment will persist. Furloughs are ending, and most people are not being invited back to their old jobs.
  • Stimulus money has run out for many recipients.
  • Extra unemployment benefits are expiring in 4 weeks.
  • PPP program expires at the end of July.
  • An impending second round of corporate layoffs.
  • Commercial Real Estate (CRE) awaits its bludgeoning.
  • Residential Real Estate will likely have to dance with a similar partner as CRE soon. 
  • Persistence of COVID means single economy towns/cities are at grave risk: 

a)     Las Vegas and other entertainment rich cities

b)     Orlando and other amusement cities

c)     College towns

d)     Myrtle Beach and other resort towns

  • Massive financial pressures on state and local governments to continue to fund their operations.
  • Continued stock market fluctuations.
  • Difficulty in the federal government in terms of funding another stimulus package. 

All seems dire, adrift and demonstrably destitute. This is the pragmatist’s outlook. Put on your opportunist hat – now.

It is often said, “What is a crisis for some is an opportunity for others.”

You must pivot.

Stand upon the toes of your mind, turn in another direction, widen your vantage point, and engage.

You cannot do what you have always done and get the same result. 

However, you can use the experience and skills you’ve gained along the way.  

Here are some clarifying statements:

  • Wholesaling does not need to cease.  The pivot is to move from wholesaling to other real estate investments with the outlook of renovating for a different market. You are pivoting to another market, the RAL Market.

a)     These investors are in search of properties that can be renovated for a completely different purpose.

  • Buy and hold has not ended. The pivot is to prepare the property for a different type of client.  This client has far different needs for the property than your client purchasing a starter home for resale.  These investors are looking to provide a dignified finish for their clients. A residential assisted living home is what baby boomers want for their golden years.
  • While Air B-n-Bs are wonderful accommodations, not many people are travelling at the moment. In addition, they will not be travelling in large groups during the foreseeable future.  Travel restrictions may become a part of American life for many years to come. Do not fear. Start Renovating for the aging, not the travelling.    

Since you are becoming accustomed to the pivoting motion, to thinking, existing and operating like an opportunist, why not consider yourself.  

Think about it.  

What made you want to be a real estate investor in the first place:

  1. Freedom:  the opportunity to spend more time with family and friends. 
  2. Adventure:  the opportunity to travel/vacation more often and for longer periods of time.
  3. Knowledge: RE investing expanded your knowledge of the most basic of living needs, housing, and all of the facets involved in bringing the American dream to so many.
  4. Money:  you did not engage in RE investing to be charitable.  You wanted to create generational wealth.
  5. Taxes: it is no secret that the tax code gives deference to those who provide housing for others.  These benefits make it possible for you to do this.
  6. Skill Development: from construction to contracting, from financial analysis to finish-outs, you have developed skills that are invaluable.
  7. Accomplishment: there is nothing like finishing a renovation, marketing a home, and witnessing a family move into that property.
  8. Contentment: RE investors typically say that working in this industry resolved unrest and the valueless nature of corporate jobs, making them more satisfied with their lives.

These reasons and even more are achievable by learning, understanding and becoming an investor in the residential assisted living industry.  

Why should you do this? What makes this industry different from traditional Real Estate?

The residential assisted living industry is currently focused on the one demographic in American society that has money – baby boomers.  

Many have retired or will be shortly.  

Their retirement funds have long been moved into more conservative investments where yields are lower than stocks, but loss is not realized.  

Many baby boomers, as we often refer to this generation, are beginning to have needs that require attention. 

The assistance they need cannot often be given to them by their adult children.

However, this generation is repulsed by the traditional senior housing or big box nursing home facilities. 

The big box facility just will not work for them.  

However, a RAL home is absolutely the most ideal situation for baby boomers and their adult children.  

Make the pivot, now.  

TRAINING OWNERS AND OPERATORS AT RESIDENTIAL ASSISTED LIVING ACADEMY 

Get the clarity you need to provide homes for residential assisted living investors and become one yourself.  

Why not? 

You are already in this space and the RAL Academy will show you step by step how to maximize this opportunity to net profit $5,000, $10,000 and even $15,000 per month. 

Simply pivot to the clients who have both the money and the need.  

However, you must learn the right model of assisted living first.  

Just as you did with real estate investing, you must do likewise with your RAL business.  

Join us now, and Start your training today.

RALA Success Stories: Shawn

Successful owners, operators or investors in residential assisted living homes are not lucky – they are educated.  

When given the proper education, training and mentorship, any committed person can own, operate and/or invest in a residential assisted living.

RAL homes can provide wealth for generations.

Are you looking for a generational wealth building vehicle that will simultaneously benefit others in a significant way?  

Do you know what makes a successful investment?

MEET SHAWN

Shawn is a real estate investor and CEO of Seasons Assisted Living & Memory Care. He is also a successful graduate of RAL Academy.

Additionally, Shawn has served in multiple leadership roles for several publicly traded companies.  

He has accumulated over 22 years of sales, marketing and business development experience. His high-energy teaching style extends its effectiveness through mentoring and coaching.

He guides young entrepreneurs on business growth strategies, effective communication, and positive principles for life.

Seasons Assisted Living of Texas specializes in providing an all-inclusive resort-style type of assisted living services in a peaceful, home environment. 

In keeping with his RAL education, his homes are safe and intimate. This atmosphere is both familiar and comforting to residents.

Shawn’s property in Conroe, Texas was purposefully renovated to present comfort for both the residents and their families.  Families want to know that their loved one is secure and comfortable.

The upscale, licensed residential assisted living facilities create an atmosphere that is both familiar and comforting to each of his senior residents.

This environment also allows for a small staff-to-resident ratio, which ensures personalized care for each of their guests.

At Seasons, the staff functions as a family.

Seasons Assisted Living specializes in providing all-inclusive assisted living services in a peaceful, home environment. 

Services are based on the needs and desires of residents, but there are some standard services that make Seasons ideal for seniors.

Services Include

  • 24-hour service: staff available to residents around the clock.
  • Personal hygiene assistance: toileting, bathing, grooming and dressing.
  • Private and shame-free incontinence care.
  • Cooperative medication management as well as medication administration.
  • Three Squares: well balanced, home cooked meals and healthy snack options for all.
  • Specialty meal preparation for those with specific dietary needs
  • Housekeeping services
  • Full laundry service
  • 24-hour on-call nursing service.
  • Social and recreational activities
  • Onsite beautician services
  • Multicultural worship services
  • Electronic call pendants with caregiver monitoring
  • HD video cameras throughout the home
  • Bed/chair pressure pads to detect movement and prevent falls
  • Memory care is offered at the Conroe location presently.
  • Multiple options for Home Health & Hospice agencies in the area

Shawn’s RAL homes are located less than four miles from the nearest hospital. This is purposefully done should an emergency arise.  

Residential Assisted Living Academy teaches students about the importance of placing emphasis on location. 

SHAWN’S SUCCESS

These strategies and services are the components that make Shawn’s residential assisted living homes thrive.  

He has been able to build and renovate some of the most luxurious and desired residential assisted living homes in Texas.  

Shawn’s success is not a secret.  Here is what makes his success so sweet. 

  • Knowing his “why?”
  • Conducting extensive and intricate location analysis,
  • Investing in an in depth feasibility analysis,
  • Continuing to revise a 5, 10 and 20 year forecast,
  • Knowing bigger is not better; small is where it’s happening.

GET EDUCATED AT RESIDENTIAL ASSISTED LIVING ACADEMY

Have you considered owning a residential assisted living home? Do you understand what has made Shawn a success in this business model?  

Furthermore, are you prepared to explore a similar model? 

If so, have you considered education and training to ensure your success?  Click here for more information.

Shawn did and he is now reaping the benefits of his labor and enjoying the process every step of the way.  

Consider your future as an owner, operator, and/or investor in residential assisted living homes.  Get the clarity you need to create generational wealth.

This business model benefits so many people at the most vulnerable stages of their lives.  

Just like Shawn, the RAL Academy will teach you everything you need to know about owning and operating your own residential assisted living business. 

The Top Locations Prime For New Residential Assisted Living Homes

Residential assisted living is all about location, location, location. Find the right location, and you are on the path to setting yourself up for success. Like any other business, residential assisted living is focused on bringing the right service to the customer. In this industry, the customer is the resident. The right location puts you in the best spot to keep your RAL home occupied. Without residents, it doesn’t matter how amazing your staff, your amenities or programs are. Residents are the fuel that will launch your business off the ground – are you ready to take off? You can launch your new RAL home anywhere in the country, because seniors are everywhere. Currently, there are some key locations for optimal success. 

Three Ripe Locations For New RAL Home Developments 

  1. Augusta, Georgia
  2. Virginia Beach, Virginia
  3. McAllen, Texas

Why these locations?  What makes them ripe for investment?  They are not exactly on major highways or host international airports.  So, why these three cities? 

Where Should You Build Your Next Senior Living Home?

There is a concept common among marketers – the law of large numbers. Actually, the concept was created by Jakob Bernoulli, a Swiss statistician in 1713.  When a population is large, what is the probability that “X” will happen or “Y” will not. Bernoulli used statistics in its most simplest form. However, business owners, investors and marketers quickly adapted the concept to fit their needs. So, when the question is posed, “where should you build your next senior living home?”  The law of large numbers is a quick and honest means of evaluating opportunities in our free-market society. Ask yourself, “Which states will see the most growth in senior households?” The law of large numbers provides you with a quick list of states who will see the largest increase in senior households in America between 2015 and 2030.  

12 States With The Highest Expected Increase of Seniors 

  1. Nevada, which is expecting a 125% increase
  2. Alaska, which is expecting a 117% increase
  3. Arizona, which is expecting a 95% increase
  4. Georgia, which is expecting a 85% increase
  5. Idaho, which is expecting a 82% increase
  6. South Carolina, which is expecting a 82% increase
  7. Utah, which is expecting a 81% increase
  8. Colorado, which is expecting a 77% increase
  9. Virginia, which is expecting a 71% increase
  10. Texas, which is expecting a 70% increase
  11. Delaware, which is expecting a 68% increase
  12. North Carolina, which is expecting a 68% increase

Now, do you have a better idea where to spend your investment dollars? Where your energy will burn the best? Where your market analysis will glean the most optimal opportunities? Where real estate will be most valued? The list of potentials can go on and on, but as an investor or business owner of residential assisted living homes, you want to know where the largest opportunities are because it also lends to the greatest return. For example, why not invest in a state that is not listed above? The security of your investment in a residential assisted living home is most stable in states where the senior demographic is growing. These demographics are growing at an alarming rate in the aforementioned states. The two factors are hand and glove.

This alarm is not a negative alarm, but the opposite. It is a positive one for the investor because you have the opportunity to prepare for the coming needs of millions of Americans. A quick glance at the above list will quickly show an investor that the senior demographic is growing in America. It also shows the southern and western states containing the areas of growth. Therefore, those two American regions confirm the law of large numbers. Investors can engage in projects in these states and feel more secure that the return will be optimal. Remember, location is everything. 

Steps To Plan Your Next Senior Living Development

Investment experts familiar with the senior living market regard it as a high-growth industry. While overbuilding is an issue in some markets, there is a broad opportunity for an investor to strategically plan an entrance into this market.

The fact of the matter is that because of the baby boomer generation, the number of seniors is projected to grow significantly across the board, however, some areas will see more concentrated growth. While this article provides a preliminary market list of leading metropolitan areas, a comprehensive market study is still required. Investors should engage in a market study before making a final decision about location. These locations are meant to provide investors with direction to save time and money. Market studies are more comprehensive – the level of detail is unparalleled. 

These studies account for more than just favorable trends — they look specifically at a neighborhood and its surrounding market area for demand indicators. These indicators include occupancy, labor, age and income qualified seniors, demographic information about adult children, competition, and many more factors. Market studies offer the detailed information investors need to make an informed decision pertaining to where an investment should be made. These important steps enable investors to reap a positive return. So, get started analyzing for your opportunity in residential assisted living today.  

Help Is Available 

For more information or assistance, reach out to Residential Assisted Living Academy. Learn more by going to www.RAL101.com and get ready for the next big investment opportunity of a lifetime. This winning business blueprint will help you get started and scale your business and profits. In addition to the step-by-step training process that has been developed over five years by Gene Guarino, you will also gain access to shared knowledge. Use the right resources to accelerate your vision.

Residential Assisted Living Isn’t About Getting Rich Off Old People

Recent events have shown us that quality care in senior living is more important than ever. Although residential assisted living is an incredible business opportunity, the motivation for most is not solely to get rich. Over the next two decades, it is imperative that our senior care infrastructure for the aging population transitions. This transition includes more seniors opting for smaller residential assisted living homes. As a result, RAL homes are in high demand. As a future RAL business owner or operator, it is important to approach this assisted living business model with specific perspectives. 

Four Facts To Face Before Focusing On Finances

  • RAL is about caring
  • Advantages of RAL over big-box or nursing homes are many
  • Seniors love residential assisted living
  • Quality care is an opportunity to create a stable financial future

Benefits Of Smaller Residential Assisted Living Homes

RAL homes are the best options for seniors who do not want to live in large big-box facilities. Smaller homes also offer a more comfortable home environment. These homes are also able to offer a much higher level of quality care with a better staff-to-resident ratio. 

As a result, staff in residential care homes assist with medication management and all other activities of daily living. The staff personally know the seniors, who are more than just numbers.

The Advantages of Residential Assisted Living:

  • Optional private rooms or roommates are available in RAL homes.
  • RAL homes have lower staff-to-resident ratios than nursing homes or large assisted living facilities, which enables caregivers to offer more individualized care and service.
  • Fixed cost per month for care found in most RAL homes is preferable to the added unexpected costs for every additional service offered, such as the case with many big-box nursing homes.
  • Seniors love the family-oriented lifestyle of residential assisted living. It feels like home.
  • RAL homes require limited mobility to move around the home, unlike larger facilities that require lots of walking.
  • Each RAL home is different and offers unique experiences.

Even with all the advantages of smaller assisted living homes, transitioning into a seniors care community can be difficult. Most seniors desire to stay in their own homes and maintain a sense of freedom and independence. Did you know that after many seniors move into assisted living, they prefer it over living alone at home? There are many reasons why. 

Some important reasons why seniors and their loved ones prefer RAL homes over big-box nursing homes include the following: 

1.     Better safety and security 

2.     Delicious and nutritious meals, that can often be personalized

3.     Less worry 

4.     Opportunities to try new things

5.    New friendships with close friends as opposed to large numbers of seniors constantly coming and going

Five Perks Of Seniors Living Over Staying At Home

1.     Better Safety And Security

Changing health challenges can cause staying at home to become unsafe. Unfortunately, many home modifications are expensive, and they do not offer the necessary safety measures for accidents and falls. Unlike most traditional homes, assisted living facilities are designed and built with the safety of seniors in mind. Seniors living in RAL homes benefit from secure entrances and exits to accessible bathrooms and medical alert systems. Assisted living residents have help readily available if they need it.

2.     Delicious And Nutritious Meals

Residential assisted living homes offer delicious, nutritious meals daily.  Good nutrition is a known issue for aging seniors living at home. Even worse, most people do not enjoy eating alone. Dining in most RAL homes is a vibrant social experience, oftentimes with chef-prepared meals that cater to specific healthy and dietary needs. 

3.     Less Worry

When seniors own and operate their own homes, chores, landscaping, maintenance, and repairs are not easy, especially for aging seniors living alone. Residential assisted living gives seniors an opportunity to escape from the stress of daily household responsibilities. RAL homes offer an easier, more relaxing lifestyle. Most assisted living communities provide housekeeping, laundry, and even transportation services to make day-to-day life easier for residents.

4.     Opportunities To Try New Things

Learning new things is a lifelong journey, and staying engaged is an important part of that process. Residential assisted living offers art and craft classes, fitness clubs, games, social activities, and even off-site trips to local events and performances. Seniors no longer have to get bored with life when living in the right senior community. 

5.     Close Friendships

Most importantly, residential assisted living gives older adults a chance to form meaningful friendships. When seniors live alone, they run the risk of becoming disconnected and suffering from mental conditions that spiral from social isolation. Seniors who are surrounded by loving peers in a warm residential assisted living setting experience better outcomes, including genuine happiness. 

How To Do Good And Do Well At The Same Time

Join the Residential Assisted Living Academy, and Gene Guarino will show you how to immediately start building your RAL business. 

You Will Discover Exactly How To:

  • Find the best real estate locations for the best opportunities in RAL in your area
  • Determine if your current property is a good fit for a RAL
  • Attract the highest paying clients/residents
  • Select properties that will be suitable for a RAL home
  • Attract the right investors and partners for RAL success
  • Find the right team to make your life easier and your business more successful

Gain access to the well-developed step-by-step training process, by clicking here to START YOUR JOURNEY, OWN YOUR FUTURE. Your registration will give you access to the shared knowledge of RAL expert Gene Guarino and enable you to review the Questions and Answers of other students. You don’t have to start from the ground up. The Residential Assisted Living Academy team have laid the groundwork — all you have to do is follow the successful game plan. Gene Guarino literally wrote the book on how to start a residential assisted living business, Blueprint.Now, you can start off where he ended up after years of hard work developing the Residential Assisted Living Business Accelerator.

Eldertopia… This Opportunity Is Transformational

The Silver Tsunami of seniors is hitting the shores of America, and residential assisted living is a transformational opportunity in a number of ways.

  • Transformational Income: It literally changes the way you live as a passive or active investor.
  • Transformational Model: Senior care is raising the standards in the assisted living market to the benefit of seniors, their families and RAL operators.
  • Transformational RAL Homes: How we are changing the view of aging seniors from, “I don’t want to leave my home and enter assisted living” to “this community is amazing and has opportunities that will improve my life.”

A NEW BOOM IS COMING

The rumble is here.  The tremors can be felt across the entire nation.  Baby Boomers are entering their silver stage, and they do so in the same style they have lived from childhood.  

While the next generation of aging Americans create a boom with whatever they do, a more gentler amenable term was coined by Dr. Bill H. Thomas, an accomplished author and geriatrician, “Eldertopia”.

Dr. Bill H. Thomas will be speaking at the Residential Assisted Living National Convention in Phoenix, October 3RD – 5TH.

You can get more information about the convention here.

Gene Guarino is the president of The Residential Assisted Living Academy, who hosts the annual conference.  

The necessity is clear.  

Residential assisted living homes are preparing to serve the incoming generation of seniors. The conference will certainly focus attention on those who want to or already own, operate, or invest in residential assisted living.

However, it will also feature phenomenal speakers, such as Dr. Thomas, who will help owners, operators and investors better understand the innate needs of the aging Baby Boomers. 

This is essential for all those who are currently involved or plan to engage in the wonderful business of residential assisted living.

Dr. Thomas authored an article where he delved into the idea of “Eldertopia.”  

WHAT IS ELDERTOPIA?

Eldertopia is a community that improves the quality of life for people of all ages by strengthening and improving the means by which: 

1.     the community protects, sustains, and nurtures its elders, and 

2.     the elders contribute to the well-being and foresight of the community.”

This idea is the kind of aging process Baby Boomers accept.  They will not ride quietly into the sunset on a beautiful horse.  

They would prefer to drive a Harley Davidson into a garage and host a party.  They are not quiet, like the veteran generation.  

They are rowdy, game changers, participants, and course charters.  They put their destiny in their own hands.  If they are to be housed in a residential assisted living home, they will want to have a say in how things operate. 

Dr. Thomas makes several strong claims in his article.  

Here is a summary of a few pertinent ones.  This will assist owners, operators and investors to comprehend the revolutionary needs of the coming Boomers. 

KEY POINTS FROM DR. THOMAS’ BOOK

  • 78 million people constitute the Baby Boomer generation.  They will change senior living as they have everywhere else in American life.
  • What is considered to be the “silver years,” will be radically changed by Baby Boomers.  This change will affect the way in which coming generations embrace the aging process.
  • The idea of respecting your elders will not be considered a kind gesture.  The new elders want to be a part of the community, not statues on a porch waiting for visitors.
  • The values of intergenerational interdependence must be understood. Baby Boomers will be a significant part of their family and community.
  • The culture of America will once again change because Baby Boomers will create another “boom,” with the way in which they engage their communities.

This short list of summarized ideas from Dr. Thomas’ article may seem rather revolutionary.  They are!  

Be sure Baby Boomers will change senior living much the same way they did American life. 

The RAL Academy, RAL National Association and the RAL National Convention are making the necessary strides to prepare this industry to welcome these amazing seniors.

The conference will also feature Harry S. Dent, Jr., author of New York Times bestseller, The Demographic Cliff. Dent focuses his attention on the generational consumer spending patterns.  

He lends a good deal of focus to the financial market relative to this coming change. 

HARRY DENT’S ESTIMATES 

  • A significant reduction in consumer spending as Baby Boomers retire, and 
  • An impending economic downturn, which could have significant consequences on financial markets 

Therefore, this conference is about much more than just owning a residential assisted living home.  

While much of the focus is on the needs of owners, operators and investors, it couples these business needs with meeting the social needs of the coming generation.  

There is a “boom” coming, and entrepreneurs in the residential assisted living business are poised to be key players in absorbing and caring for the Boomers.

Get involved with the RAL National Convention, coming in October.

A MASSIVE WAVE OF SENIORS IS COMING AND THEIR INFLUENCE IN EVERY DEMOGRAPHIC SHIFT IS UNDENIABLE.

Baby Boomers know they are entering their silver years and understand the need for assistance is coming, but they do not accept the idea of entering a nursing home.  

However, many recognize their inability to remain at home, often alone.  It simply is not safe or healthy. 

Therefore, Residential Assisted Living is the best option for the millions of baby boomers in need of care in a way they can accept it.

The need is clear.  The demographic is obvious. The opportunity is before us.   

What to do about Eldertopia?  

Get involved in residential assisted living.  The coming conference is a great way to start the journey.  

Click here to get started, https://www.ralnationalconvention.com/.

Turning Lemons Into Lemonade

Owning and operating a residential assisted living business can be challenging, especially during a pandemic that impacts the elderly. 

Entrepreneurship brings with it a host of highs, nestled between moments of struggle, grief and sometimes strife.  

Americans have come to signify the difficult moments in life as lemons, which are bitterly acidic, but filled with tremendous benefits if converted into a liquid.  

Therefore, we say, “when life gives you lemons, make lemonade.” 

Reliance upon knowledge and experience of others who share the secrets they’ve learned over the years makes the paths easier.  

A lesson learned is more palatable than a lesson earned; yet, either way the lesson will be learned, but learning on your own can be packed with far more costly mistakes. 

In the residential assisted living industry, trying to figure out all the business components on your own can be costly, time consuming and frustrating. 

What RAL owners and operators need to be successful is support, guidance, effective planning and an attitude of flexibility. Without these, life can become unbearably difficult and can dissuade a person from continuing on.

RECIPE FOR THE LEMONADE OF LIFE

Since life’s lemons are often unavoidable, learn how to prepare them. Learning how to make tonics as well as refreshments with lemons just makes life easier.  

  • The Necessities

Do what needs to be done regardless.  Remember your basic needs and how to survive. 

  • Intense Focus

Lemons can be distractions.  Refrain from chasing unnecessary circumstances. Stay focused.

  • Remember the Goal

Set milestones along the way but do not lose sight of the finish line.  Remember the end product.

This is the business recipe for the lemonade of life. The comical part of this end-product is that you needn’t purchase the raw goods – life provides them for free. Here’s how. 

FIVE WAYS TO TURN LIFE’S LEMONS INTO LEMONADE

1.     Attune Your Mind

Your mindset impacts your ability to succeed. When negative things happen, you must first take notice of how you react. 

a)    How are you interpreting the event? 

b)    What story are you telling yourself about what happened?

These are subjective thoughts, not objective facts. You can alter your mindset to a more positive direction, but only if you are first able to recognize your natural reactions to negative events.

2.     Consider The Lessons Of Lemons

You can start to see negative experiences in a more positive light if you frame them as lessons for the future.

a)    Why did things turn out this way?

b)    What could you do differently? 

c)     What can you take from this event to apply to future situations? 

By altering the way in which you process lemons,  you are being constructive. The point is not to dwell on mistakes and shortcomings, which are both destructive behaviors.

Instead, think about how you can avoid them in the future and become a stronger, wiser person. 

3.     Focus On The Positive

The old saying says, “the squeaky wheel gets the grease,” and this is true.  The negatives, that is the lemons, cause a lot of noise.  

Lemon demands attention, however, there are positives all around you. Revel in them. 

One might even find new and invigorating passions, explore and develop hobbies, connect with others, and dive into what you love. 

Grateful journals help business owners reflect upon the things in life that they’re most thankful for and humbled to have.  

This tends to really help the owner see the positives.

4.     Operate In Community

When things don’t go right, you can always find comfort in those who love and care about you. 

Make sure to surround yourself with your happiest, most optimistic support team. 

We often mirror what we see and experience, so you will likely see their optimism bouncing back to you.

5.     Drink Lemonade

Psychological research shows that if you approach negative events with strategies, you can develop hardiness, which will make you even more resilient in the future. 

This hardiness enhances performance, leadership, and mood by giving people the courage and capability to turn adversity to advantage. 

Lemons are unavoidable, but lemonade is so enjoyable.

ARE YOU AN OPTIMIST OR A PESSIMIST?

The explanatory style is the way in which a person tends to explain situations introspectively. People will either use a negative spin or a positive one.

Since circumstances are really emotionally neutral in their own right, it is our choice to control how we perceive circumstances.

So, in all honesty, the choice is yours.

Take a look at the 6 self-examination statements below to discover which seems more like the style that you use to interpret situations in your life?

Self-Examination For Pessimists

1.     I rarely count on good things happening to me.

2.     If something can go wrong for me, it will.

3.     I hardly ever expect things to go my way.

Self-Examination For Optimist

4.     In uncertain times, I usually expect the best.

5.     I’m always hopeful about my future.

6.     Overall, I expect more good things to happen to me than bad.

If you often use statements like those in the first set, you are more likely to have a negative explanatory style, making you a pessimist. 

If your mottos more closely resemble statements from the second set, you’re likely to have a positive explanatory style, and think more like an optimist. 

Having a positive explanatory style generally leads to greater happiness and success. 

The good news is that thinking more optimistically is something that you can learn to do.

HOW DID YOU BECOME A PESSIMIST AND WHAT CAN YOU DO ABOUT IT?

In his book, Learned Optimism: How to Change Your Mind and Your Life Dr. Seligman describes key differences between pessimists and optimists:

Key Traits of a Pessimists

  • Pessimists tend to believe that the bad events that happen to them are permanent, not transitory. 
  • They often feel that the negativity from such events will forever affect their lives. This leads to a sense of helplessness regarding their ability to better their situation. 
  • Pessimists attribute success to specific events and unusual circumstances and expect failure as the norm.
  • They experience low self-esteem in the face of adversity or setbacks. They blame themselves and feel worthless or talentless. 

Key Traits of Optimists

  • Optimists, on the other hand, view setbacks as temporary. 
  • They are therefore more resilient and bounce back from adversity, rather than letting it sideline them.
  • They view success as an expected outcome, due to their overall competence or abilities.
  • Optimists don’t allow unfortunate circumstances to alter their overall positive view of themselves and their capabilities. 
  • They can more easily separate their self-worth from the outcome of a particular situation.

Optimism is a learned thought process. It validates the possibility that you can change your life for the better through your own effort and will. 

Learned optimism is empowering and self-motivating, most importantly, it is a choice. 

Try the technique below to learn to be more optimistic about your life and your business. 

SELIGMAN ‘S ABCDE METHOD FOR LEARNED OPTIMISM

a)    Adversity

When we experience setbacks or adversity, we react by thinking about it. Our thoughts are processed according to our beliefs.

b)    Beliefs

Belief defines those things that lead to success or consequences.

c)    Consequences

Consequences are usually negative results that spiral from thinking pessimistically with negative expectations. 

d)    Disputation 

Disputation is when we can mentally challenge our pessimistic beliefs and look for evidence to dispute them. 

e)    Energization 

Energization is the motivation needed after we’ve disputed our false, negative beliefs.

According to Seligman, the key to dealing with setbacks is learning how to dispute those initial, automatic, negative thoughts. There are two ways to do this. 

  1. Distract yourself when the automatic, negative thoughts occur – force yourself to think of something else. 
  2. Dispute these negative thoughts and beliefs.  Do not automatically accept them as truth.

LEARN MORE AT RAL101.COM

Unfortunately, negative thoughts are more common than positive ones.  For most people, negative thoughts are a factory default setting.

Therefore, all people have issues and need help maximizing their success. 

Gene Guarino, founder and owner or Residential Assisted Living Academy is helping students resolve their issues by turning lemons into lemonade. 

The only question that remains is: do you have the RAL recipe for lemonade?

The goal of owning and operating a residential assisted living home allows you to do good and do well.  

It’s a business model built around the idea of optimism. 

However, like any other viable business, owning and operating a residential assisted living home comes with its own bag of lemons.

Visit www.RAL101.com and learn how to get the optimist help you need to start your own residential assisted living business.