Just because you want to start a home health or homecare agency doesn’t mean you should jump right into it. To tell you the truth too many agencies fail within 1-3 years of opening. Too often the agencies fail because the owner hasn’t done enough research to understand in detail what it takes to start and grow a successful business. Just because they are passionate to get started doesn’t mean they should. Why not?
Wanting an agency requires you to research your idea in detail to see if it will be viable. With so many agencies flooding the marketplace without the owner doing detailed research on the marketplace. There is very little to no profit after paying everyone who has their hands out for your money. So, what should you do to keep in business and grow a thriving business?
The first thing you should do is research the area you plan to start your agency. Check out the state statistics regarding the population who would need an agency. If you need help, then you might want to hire a Consultant or Small Business Coach. A business coach or consultant can help you see what you cannot see to start, improve, and grow a successful agency. How do you know which one you need?
Good question. Let’s look at how both can benefit you. Let’s take the Coach first. Here are a few reasons why you would need a small business coach.
Small Business Coach:
1. A small business coach can assist and guide you in getting started and in running your agency. They will not do the work for you but they will help you by helping you explore options and by telling you what to do. They will give you confidence and help you find the tools and resources you need to reach your goals.
2. A Coach will help you run your agency by helping you clarify the vision of your business and how it fits in with your personal goals as well. Accountability is their key function.
3. A Coach will help you with an Outsider perspective when it comes to making the right decisions when difficult issues can affect your staff, clients, and agency in general. Coaches use various techniques to take an agency from where it is now to where the agency owner, manager, or administrator wants it to be.
4. When selecting a coach make sure they are very knowledgeable, have years of experience, and have a great track record. There are a lot of people who want to call themselves a coach. The only experience they have is starting their own agency or starting one for a friend or family member. This is not the person you need.
5. Last you want someone who can build you a great action plan to steer you in the right direction.
A consultant can help agency owners improve performance and make necessary changes to achieve success, just like a coach. The only difference is:
Consultants:
1. Consultants will help you by doing some of or most of the work. If you need a business plan, they will help you put the plan together and even prepare it for you.
2. They are doers. They will create a plan for growth and take the necessary steps with you or they will do them for you, so you don’t have to worry or get confused.
3. Can work on projects or take the whole problem altogether to make improvements.
4. An agency consultant is a professional with a wide array of skills who assists agency owners with their endeavors. Consultants are knowledgeable because of their education and experience.
5. They analyze agencies and create solutions while helping them meet their goals.
6. Consultants initiate change. Train staff, and management team. They do whatever you agree to in the contract as well.
As you can see both types of professional assistance can be used to grow your agency. You can hire someone who is both a Coach and a Consultant. Whatever you want them to do must be made clear as to what type of service you need.
Remember, the problem is that most agency owners steer clear of help from a business coach or consultant, even when they know they need it. However, seeking assistance from an expert consultant or coach can help in the growth and development of your agency.
To Your Success in 2023!
Sharron