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Senior Care Realty will have several from our team attending the ALFA Conference.  Join us at the ALFA-PAC golf outing, the Cheesehead Dinner, or at the Expo.  If you would like to meet and discuss ways we can help your organization, contact Mike Collins at 608-658-2871 or mike@seniorcarerealty.com.  Live updates from ALFA will be posted to Twitter - follow seniorcaremike for more.

 

Western Wisconsin - Senior Care Realty is offering several facilities for sale in Monroe and La Crosse counties.  These facilities are part of two separate portfolios, featuring cap rates of 12% and 17%. 

 

Contact Bob Richards bob@seniorcarerealty.com or Daren Dudgeon daren@seniorcarerealty.com about these and other listings.

 

Imagine trying to build a house without a blueprint. You could end up with doors and windows out of place, rooms that are poorly arranged, and a structure that could blow down in a strong wind. The same is true for your business. Without a business plan as your blueprint, your business could wander aimlessly in the marketplace, fall short of expectations, and could go down in a weak economy.
 
And, just like in home construction, the best way to build a business plan is from the ground up with a firm foundation and an understanding of just what you want and expect out of your business. "You must have some idea of what you want your business to look like. Without that, how do you know what to build or do?" asks Larry Sveda, owner, of Full Spectrum Solutions, LLC, a Wisconsin company that specializes in business strategy, direction and building high performance teams.
 
Two critical elements that make up the foundational value of a business are its Vision and Mission. Such components, says Sveda, are essential in helping a business owner make decisions on a daily basis and deal with the inevitable challenges that arise.
 
Views on Vision

Creating your company's vision boils down to answering a few basic questions about your business. Good questions include:

-    What are you building?
-    What will your business look like in 3-5 years?
-    What are the products or services you will offer?
-    How do you define the market for your products or services?
-    How much revenue and profit do you plan to generate?
-    What geographic locations will you do business in?
 
Answers to questions such as these help form your vision, and it's a vital task to accomplish early on. "Often, people get to a point in their business and find out that they don't like where they are, their business is not what they thought it would be. The problem is that they never really defined or envisioned what they were building," he explains.
 
Missions Matter

The second part of the foundation is your business mission.
-    Why are you in this business?
-    What is your purpose?
-    What is it that you offer your customers that separates you from the competition?
-    How will you differentiate your product or service in the marketplace?
 
Answers to these questions about mission will help you focus the business and give you support when challenges appear, as they always do. Sveda says that occasionally he will see a client with a mission statement displayed on a big plaque on a wall with flowery language that no one reads. "You should strive to make it concise and descriptive, with a maximum of 8 to 9 words - then you have a mission," he advises.
 
Your vision and mission comprise the foundational value of your business, and give you the basis for setting your goals, strategies and daily and weekly activities. Such planning is not just for startups. "Business changes, the market changes, the way we do business changes. What we were doing 5 years ago may no longer be relevant. If you don't have a vision and mission as part of your business' foundation, you can get run over from behind as you react to the daily challenges facing you," says Sveda. Above all, he says, having a vision and mission helps you make the decision of what to say "no" to, without tending to say "yes" to everything.
 
For more information on business planning, contact Larry Sveda at lsveda@charter.net or call 608-469-5095.

 

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