- If your products/services are not unique, you must find a way to position your products/services in the mind of your customer and to differentiate them from the competition. Positioning is the process of establishing your image with prospects or customers. (Examples include: highest quality, lowest price, wider selection, Best.
- By circumstances frequently beyond your control, To overcome these business setbacks and keep your business profitable means long hours of hard work. It could very well not be the work you want to do. As someone else's employee you developed a skill. Now, starting a business of your own, you may expect to use that skill 40 or more hours a week.
KEEPING YOUR BUSINESS PLAN CURRENT Making Revisions 23 Implementing Changes 23 Anticipating Problems 24 REFERENCES 24 APPENDIX: INFORMATION RESOURCES 25 INTRODUCTION There are two main purposes for writing a business plan. The first, and most important, is to serve as a guide during the life of your business. It is the blueprint of your. Used as a tool on which to base your business decisions. A business plan can help you determine whether the venture will be viable or not. The plan forces you to look at each aspect of the business under a magnifying glass to ensure you have researched all areas before starting your business.
Wheatland Health Services
Problem & Solution
Problem Worth Solving
There is a significant need for quality home health care and social services within this region and we believe that by employing competent and well-educated staff and providing them with organized and responsive management, we can become the home health care/social service agency of choice in Southeastern Kansas.
Wheatland Health Services strives to offer excellent and affordable home health care and community-based social services to individuals and families of Southeastern Kansas.
It is our goal to employ competent, caring, and well-trained individuals who are responsive to the needs of our patients, their families, and the communities we serve. Each staff member will meet the State of Kansas educational and training requirements for the services they provide. We encourage and support continued education of each service provider. In turn, our agency will provide staff with competitive compensation, an inviting work environment, and knowledgeable, trustworthy management and direction.
Market Size & Segments
The population base in Southeastern Kansas is aging, and more individuals are opting to stay in their own homes longer and return home following hospitalization, rather than proceeding to a nursing home. Our primary market segment includes those patients — typically in an older age bracket — who require health care services by home health nursing staff. These patients may also require other home health services, such as social work, in order to access needed community resources.
Our secondary market will be those individuals who have suffered a personal injury and require case management services to assist them in addressing medical, financial, and employment issues.
Because our agency specializes in home health care and community-based social services, we will focus on those market segments where we know our services are most needed. Focusing on those market segments that require only home-based services will greatly decrease overhead, since additional office space will not be required.
The key factor considered by both consumers and referring professionals when purchasing home health care is trust in the professional reputation, reliability and quality of services provided by the home health Agency.
Pricing of home health services does not usually influence consumers’ choices, as most home health services are reimbursed by Medicare, Medicaid, and private insurance companies, and reimbursement rates are set by those entities. Pricing of personal injury case management services is a more important factor, as these services are paid for as negotiated on a case-by-case basis at an hourly rate. When pricing personal injury case management services, we will explain to the client that we estimate the total number of hours needed to complete services liberally, rather than bidding low and then exceeding the anticipated total bid price for services.
Consumers of both home health care services and personal injury case management services rarely compare service providers directly. Usually they follow word-of-mouth recommendations, especially when those recommendations come from their physicians.
Perhaps the most important element for assessing competition in the Home Health and Social Service fields is how to persuade other professionals to repeatedly refer their clients to our agency for services. As our agency demonstrates outstanding patient care, current and pertinent qualification of service providers, and professional organization and business management, we believe that we will be able to capture the majority of the home health care and personal injury case management market in our designated region.
We start with a competitive edge: There are currently only three home health care agencies serving southeastern Kansas; Kellene Walker, our Clinical Director, has been employed with one of them for three years and has learned many of the day-to-day administrative functions that make a home health care agency successful. Ms. Walker has built a reputation for outstanding customer service, and it is our belief that her reputation will help to build a strong client base even before our start-up date.
Wheatland Health Services will also stand out in integrating community-based social services, such as Personal Injury Case Management, with our more traditional home health care. This broader base will allow us to access additional clientele and payor bases, adding to our financial stability. This integration also leaves room in the long-term for the addition of other social services, such as Family Counseling, Psycho-Educational Services, and Mental Health Case Management.
Keys to Success
Keys to Success
Our keys to success:
- Professional quality of services offered
- Reliability — being available through on-call, and adequate staffing
- Effective collaboration with other community professionals (physicians, hospitals, and other organizations)
Here's a collection of business tools featuring dozens of templates, books, worksheets, tools, software, checklists, videos, manuals, spreadsheets, and much more. All free to download, no strings attached.
► Free Small Business Templates, Books, Tools, Worksheets and More
How to Start a Business PDF: A Step by Step Guide to Starting a Small Business
by Meir Liraz
Feel Free to Download This PDF Book
This is a practical guide that will walk you step by step through all the essential phases of how to start a business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.
Here's what's in the book:
~ The basics of starting a business - The key ingredients to starting a successful business of your own. Ignore it at your own peril.
~ How to discover whether you have the necessary traits that are needed for business success.
~ How to choose a business that is best for you.
Don’t Start a New Business Unless You Watch This Video First!
Checklist for Starting a Business: Essential Ingredients for Success
If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!
For more insightful videos visit our Small Business and Management Skills YouTube Chanel.
~ When to start a business from scratch and when it is better to invest in a franchise.
~ How to determine how much money you need.
~ What are your options for getting the money that is needed.
~ What are the 10 essential aspects of managing a business that you must master if you want your business to succeed.
~ How to project the income potential of your new business.
~ How to determine the feasibility of your business idea - a complete fill in the blanks template system that will help you predict problems before they happen and keep you from losing your shirt on dog business ideas.
~ How to select the best location for your business.
~ What are your chances of success and how to get business ideas pdf.
~ The three key questions that you must address before starting a business. You must be able to answer at list one of them with a 'yes' or your new business will not stand a chance.
~ Checklist for going into business - things you must consider before starting. This will keep you from costly mistakes before you start pouring in your hard earned
~ How to start a business without money.
~ One option to raise money for a new business is by applying for free government money and loans, see here: How to get free government grants
~ All these and much much more.
Management Skills Video: How to Become a Great Manager and Leader
Learn how to improve your leadership skills and become a better manager and leader. Here's how to be the boss people want to give 200 percent for. In the following video you'll discover 120 powerful tips and strategies to motivate and inspire your people to bring out the best in them.
For more insightful videos visit our Small Business and Management Skills YouTube Chanel.
Table of Contents of the how to start a business for Dummies PDF Book
1. What you need to know before you start your new business
2. Determining the feasibility of your business idea
3. Starting your new venture
4. Buying a going business
5. Choosing a franchise
6. Ten essential aspects of managing a business
7. Special requirements and needs
8. Time to make the decision
9. Going into business FAQ
10. Checklist for starting a business
Other Small Business Free Guides That May Interest You:
Starting a Business? Looking for business ideas? What Business Should You Choose?
Many of you have already decided what business to choose. Others may still be seeking answers from counselors. Whether you have decided or not, you will find it helpful to continue your self-evaluation.
Begin by summarizing your background and experience. Include jobs. schooling, and hobbies. Then write down what you think you would like to do. Does what you would like to do match up with what you have done? It is helpful if your experience and training can be put to direct use in your new enterprise.
What are your prospective needs? What are your prospective customers' needs? You may make money doing something you don't like if people will pay for it. On the other hand, you will never make money if people don t need your product or service no matter how happy you are doing it. Experts have said more companies fail because they are in the wrong business than because they are 'doing business wrong'.
Read, listen to the experts, talk to business people, try to determine where growth will occur. Most new businesses can only get customers by taking them away from someone else, or by attracting new people entering the area. In other words, don't start a contracting business in a community where the population is decreasing even if you are a good contractor.
At this point, try to match your background and interests with what you see the needs to be. If they match, wonderful. Now all you have to do is discover how to offer the customers more for their money than do your competitors.
If the needs and your background don't match, don't despair. Get training by working in a company that provides a product or service that is needed. Find a job in a well
managed, successful company of the kind you are contemplating. Then absorb as much management know-how as you can while learning the technical skills.
Education can help too. While there may be no educational requirements for starting your own business, the more schooling you have along the right lines the better equipped you should be.
(Some fields require licenses, certificates, even degrees in specific educational areas.) Certainly it is helpful if you have had courses in record keeping, sales and communication. These needn't be college or even high school courses. They can come from adult education programs and the like.
Is there a need for what you want to sell or do? Are you prepared to fill that need? Are you interested in the area? Can you learn what you need to? Will there be a continuing and growing need for your product or service?
Your Chances of Success when starting a business
What are your chances of success if you start a new business? New businesses are always being started. Almost as many are failing or being discontinued. A year of poor business conditions is likely to be followed by a greater than average number of failures or closings. A year of good business conditions tends to be followed by large increases in the total number of businesses. In general, the number of firms increases with increases in human population, total personal income and per capita income and since these factors have increased regularly, the total number of small businesses usually rises every year.
This growth is not free of growing pains, however. At the same time new businesses are being born other businesses are being discontinued. Some of these discontinuances are legally business failures; other owners give up to avoid or minimize losses and are not failures in the strict sense. Still others discontinue for reasons such as the death or retirement of the proprietor, the dissolution of a partnership, or the sale of the business to a new owner.
Younger businesses tend to discontinue first. Many do not make it through the first year. The discontinuation rate of those that survive this first year 'burn-in' declines steadily until at the end of several years the rate has dropped dramatically. So, your chances of success improve the longer you stay in business.
Poor management is the largest single cause of small business failure. Year after year, the lack of managerial experience and aptitude has accounted for around 90 percent of all failures analyzed by Dun & Bradstreet, Inc.
Many factors may adversely affect individual firms over which owners have little control. In such cases, the astute manager can often soften the blow or, sometimes, change adversity into an asset. Examples of factors over which the owner has little control are overall poor business conditions, relocations of highways, sudden style changes, the replacement of existing products by new ones, and local labor situations. While these factors may cause some businesses to close, they may represent opportunities for
others. A local market place may decline in importance at the same time new shopping centers are developing. Sudden changes in style or the replacement of existing products may bring trouble to certain businesses but open doors for new ones. Adverse employment situations in some areas may be offset by favorable situations in others. Ingenuity in taking advantage of changing consumer desires and technological improvements will always be rewarded.
In the final analysis, it is up to you. Will your management be competent? Will you be able to judge, and then satisfy, your customers' wants? Can you do this accurately and quickly enough to more than compensate for risks due to factors beyond your control? Such accomplishment requires expert management.
Will the rate of return on the money you invest in your business be greater than the rate you could receive if you invested your money elsewhere? While your decision to go into business for yourself may not depend entirely upon this, it is a factor which should interest you. Too frequently people invest money in their own businesses under the misapprehension that the financial return will be far greater than the return from other investments. Investigation of the average annual returns in the line of business in which you are interested may be worthy of your time.
Your decision to start a new business may not depend entirely on financial rewards. The size of the potential return on your investment may be overshadowed by your desire for independence, the chance to do the type of work you would like to do, the opportunity to live in the part of the country or city you prefer, or the feeling that you can be more useful to the community than you would be if you continued working for someone else. Do not overlook such intangible considerations. But remember, you cannot keep your own business open unless you receive an adequate financial return on your investment.
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