Own Senior Care – Home Care Franchise Alternative

Home Care Business Tips for The New Agency Owner

Every entrepreneur will face ups and downs, peaks and valleys.  He or she will also have to face down various fears.  For example:

Fear number 1: Failure
Ninety-five percent of all businesses fail within the first five years. The list of what-ifs is endless: What if I’m not cut out for entrepreneurship? What if I can’t get this last deal? What if I go bankrupt? These unconscious thoughts build upon each other, making you feel increasingly negative and scared.  Keep tabs on yourself by regularly writing down a list of accomplishments. Whether you gained three new clients, received positive feedback or sealed a partnership, write it down.   You now have a point of reference to show yourself that you are accomplishing and up for the task of running a business.

Fear number 2: Economic uncertainty
Businesses of all sizes, young and old, are worried about what the declining economy means for them. According to the January 2009 “American Express OPEN Economic Pulse” report, 66 percent of small-business owners surveyed said they are stressed out by the state of the economy; 44 percent anticipate the economy will get mildly or much worse over the next 12 to 18 months; and 50 percent expect the economic climate to negatively impact their business prospects within six months.  But many small businesses have started, innovated and grown during a recession. Bill Hewlett and Dave Packard established Hewlett-Packard during the Great Depression; Orbitz.com went live during the dotcom bust. The Boston Beer Company and Samuel Adams began during the early ’80s recession.  Entrepreneurs are notorious for swimming against the current, so a bleak market can actually mean more opportunity.

Fear number 3: Being your own boss
As a small business, especially during the startup stages, there is very little stability and security. You don’t have a boss, someone guiding you along.  No one is going to tell you what to do. The days can pass you by and you haven’t really done anything because there is no one giving you the framework for what to do.  Setting goals is key to conquering this fear. Whether it is daily, weekly or more long-term, setting specific, achievable goals keeps you accountable and on track.

Fear number 4: Consuming your life
The idea of not having any time for yourself, neglecting your family and giving up your social life can be scary. You don’t have to eat, breathe and sleep your homecare business.  This isn’t to say you shouldn’t always be thinking about how to better your homecare business and that you shouldn’t jump into action whenever duty calls. Being an entrepreneur will consume a lot of your waking hours, but there are ways to manage the workload, ease the stress and still have time to live your life and maintain the passion you had when you started.  The best rule of thumb is to do something you love; something that makes you happy. In addition, try to refocus your mind everyday, such as doing meditation or exercising regularly. Don’t be afraid to ask for help, whether it means hiring people to do the tasks you don’t have the time or know-how for, forming a discussion group or advisory board, or reaching out to peers.

Fear number 5: Staying afloat
You need money for your start up, to operate, and to grow. Throw the dismal economy into the equation – when people are spending less and it’s taking longer for small businesses to get paid (according to the “Economic Pulse” survey) – and money is even harder to come by.  Yet, as difficult as the times may be, remember that you are selling a service that is a priority to many people.  Families know how important it is have the benefit of home care for loved ones they can trust, and will often give up other things for this sense of comfort.

Posted by: David Goodman, President of Companion Connection Senior Care, the premier No Royalty Membership Organization serving the non medical home care and licensed home health business communities. Demand for home based elder care is soaring! CCSC will help you start your own highly successful Home Care Agency business. Contact us today for a FREE Business Info Kit… 1-800-270-6949