The National Adult Day Services Association held its annual conference in Minneapolis last weekend. It’s always fun to go to this conference. It’s not too big, so I’ve been able to meet lots of other adult day providers over the years. Many have become friends. This conference is also a great place to identify trends …
Category Archives: Strategy
BHAG—WHAT AM I THINKING? 5 Insights for Using the BHAG for Small Business Strategy
The Big Hairy Audacious Goal. 10x 2018 Revenues by 2028. Profitably. Let’s say my 2018 revenues were $1,000,000 (this is not my revenue, but it’s a nice easy number to work with). In 2028, that’s $10,000,000. That’s a compounded average growth rate (CAGR) of 26% for 10 years. If I tried to do this in …
Senior Helpers Town Center: Is it a good business opportunity?
In the article, I shared about the Glennar Town Square program. I want to take a look at the Senior Helper’s franchise opportunity based on what I know about these centers and the industry. This analysis is based on the limited information found on the various Town Square Web sites and on my own extensive …
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The Forgotten Middle: Possible Solutions for Middle Income Senior Care
There is a cavernous gap in senior care options for the broad middle class. For the truly, low income and low asset senior, Medicaid provides significant options for the senior. For high income seniors, they can afford the services they want and need. The majority in the middle struggle to afford the services, forcing seniors …
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Strategy, Cash, and Value
When I was in business school, we spent a lot of time thinking about strategy. I learned to analyze an industry using Porter’s 5 forces. We talked about Judo tactics in business. I really enjoyed the classes. I’m a small business owner now. I own an adult day and home care business. From an industry …
Interviewing CEO Candidates: Questions for Strategy
I am currently serving on a search committee for a new executive director for the National Adult Day Services Association. It’s been a long process where we have had to identify transitional leadership, do some significant strategic planning, and identify and then interview candidates. I’ve learned so much during the last few months. A friend …
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Integrity in Sales: When Lifetime Value Approaches Zero
Recently, I had a run in with a sales person from Patch.com. He had met my marketing person who thought that their service sounded like a good idea. I met with them obtained a quote and let them know we were putting everything into the budget. We decided to move some of our advertising dollars …
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5 Steps to Startup Success in 30 Words
Originally posted on David Cummings on Startups:
Earlier today I was talking to a student about entrepreneurship. Naturally, he was very focused on the traditional model of identifying a problem, writing a business plan, building a product, and finally talking to customers. I told him that everything he was doing was backwards except for identifying…
When Disaster Strikes: Creating a Business Continuity Plan
Originally posted on The Turnaround Authority:
The pipes in the office on the floor above yours burst and your entire floor is flooded and all the computer equipment is destroyed. There is a weeklong ice storm that shuts down the power in your building and no one can work there until it is restored. There…
Business Model Generation
In the world of technology startups, four ideas/books seem to be quite influential: Business Model Generation, Steve Blank‘s Customer Development model, Eric Ries’ The Lean Startup, and Agile Development. I’m not a technology guy, but they talk about launching companies often and with abandon. What can we learn from them that we can apply to …
Ned Morgens 