Formulating a Strategic Business Plan

Learning to be more selective about your business decisions allows entrepreneurs to do fewer things much better. The mere reality that time is measured creates the understanding that time will come to an end. Time is not infinite – it is impartial. It is to this end, that people take time so seriously.

As you seek to open your first residential assisted living home, your personal time is of the essence. Your time must be leveraged appropriately so that you can maximize your business experience.

Do Fewer Things Better

In order for your time to be fully leveraged, you must know what you do well and what you do not do well. Be honest with yourself.

Ask yourself the following questions:

  • What am I most and least passionate about?
  • What things must I do in order to ensure my business is well operated?
  • What things should be delegated to management staff?
  • What type of leadership style will best work in my business?

Once you are clear on these questions, you can formulate a detailed, realistic strategic plan. A strategic plan will protect your time. It is the barometer of your activity and will keep you focused on what you need to do at all times. Conversely, it will remind you of what you need to avoid investing your time into.

Start by deciding what matters most. While this is easier said than done, it absolutely must be a guiding principle in your operation of a residential assisted living home. Remember, your time must be protected.

Guidelines for Formulating Your Strategic Plan

  • Make a specific prioritized list, starting with a low-level uncomplicated concept that is mission and vision focused.
  • Learn to say, “no,” understanding that your time is precious, and never settle for “good enough” – you will also find yourself happier and healthier.
  • Fight the fear of missing out, which is rooted in greed – be disciplined.
  • Be super-careful not to divert frequently with recurring commitments that will derail your plans.
  • Prune prior commitments because time management dictates success.

Always be aware of the difference between what feels good vs. what does the most good. Don’t favor what feels good – favor what does the most good. If you are going to own and operate a successful residential assisted living home, your time must be garnered for those activities that matter most.

To learn more about the 3-day training to learn everything about owning and operating a residential assisted living home, click here.

Residential Assisted Living is an industry disruptor. What Airbnb did with Hotels, and Uber did it with the Taxi industry, RAL is doing within Assisted Living.