Running a home care business is a time-consuming and emotionally draining undertaking. From day one, you put your heart and soul into your agency, possibly at the expense of personal and family time. When you run a business that doesn’t control you, you have more time to visit clients, avoid burnout, take more personal time and pursue other dreams. So, how do you balance work and personal life?
1. Create your Primary AIM and Company’s Strategic Objective
Your primary AIM provides the foundation of what you want to become, personally. Define your goals and dreams outside of work and you will find balance with in the work place. If you don’t have family or personal goals, work will consume all your time. For Home Care Pulse CEO, Aaron Marcum, he defined his primary AIM as:
My Mind is at peace.
My actions reflect character.
My time is spent in service.
My body is in good health.
My life is my family.
My heart belongs to Christ.
2. Create your Value-Driven Strategy
Creating a company strategic objective will help you to fulfill your primary AIM and move you towards sustainable growth. When defining your personal and work objectives ask yourself this question: “If you were sitting here three years from today, and you looked back over the past three years, what needs to happen, both personally and professionally, for you to feel happy about your progress?”
3. Create Accountability Systems
An accountability system allows you to more effectively control behaviors and performance of team members without them feeling like your micromanaging your team. Let your team members own their roles and they will outperform your expectations. Accountability allows you to maintain control and grow your company from anywhere. You can leave on vacation and know your agency will still function without you.
Proper expectations and accountability start with asking the right questions:
- How does each position help you achieve your personal mission and your company’s objectives.
- What expectations are necessary for each position to achieve desired results?
- How will it be measured?
- What will be the benchmark for each measurement?
4. Filter Your Opportunities
According to the 2017 Home Care Benchmarking Study, 33% of surveyed home care providers said their top growth opportunity is in referral sources. Identify your greatest opportunities and then spend your time chasing opportunities that will grow your business.
5. Measure Your Top “Dials” Consistently
The purpose of the 5 dials is to keep your business on course to achieving your strategic objective. Your 5 dials are the benchmarks you compare your growth against. The top 5 dials Home Care Pulse has identified for home care providers are:
- Revenue and Gross Profit Margin
- Your top revenue generators
- Sales close ratios
- Caregiver turnover ratio
- Client satisfaction