Checklist for Starting a Home Health Care Business: Essential Ingredients for Success
If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a Home Health Care business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!
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A Step by Step
Guide to Starting a Small Business
This is a
practical manual in a PDF format, that will walk you step by step through all the
essential phases of starting your Home Health Care business. The book is packed with
guides, worksheets and checklists. These strategies are
absolutely crucial to your business' success yet are simple and
easy to apply.
Copy the following link to your browser and save the file to your PC:
https://www.bizmove.com/free-pdf-download/how-to-start-a-business.pdf
Budgetary Control
And Productivity
1. Do you express your plans in
terms of a budget, covering sales, stocks, markups, and
expenses?
The goals expressed in a budget give
you something definite to shoot for; and if the budget is
carefully made, you can determine the balance you seek to
achieve among your various profit factors.
2. Do you set up your budget for
relatively short periods?
For different businesses the
budgetary period will vary, but it must always be short enough
to assure adequate control of current operations.
3. Do you make an organized effort
to determine the potential sales of your merchandise lines in
your community and to calculate your market share?
Your local chamber of commerce can
help you make a reasonable estimate of the volume of sales in
your town of the kinds of goods you sell. You can then determine
about what percentage of the total you are achieving. Even if
you are growing, a loss in market share is a sign of weakness.
Your normal goal is to increase your market share or competitive
position, even in times of recession.
4. In controlling your operations,
do you frequently compare actual results with the budget
projections you have made; and do you then adjust your
merchandising, promotion, and expense plans as indicated by
deviation from these projections?
Every merchant, no matter how small
his business, needs open-to-buy and open-to-spend control in
order (1) to keep purchases and expenditures in accord with
previous plans, and (2) to revise these plans as changes occur.
5. Do your key employees have a
voice in formulating budget plans concerning them?
Normally, a budget will be more
effective when it includes the thinking of those who are to be
guided by it rather than when it is solely the product of the
owner-manager. Budget-making requires the joint efforts of the
people responsible for achieving its stated objectives.
6. Do you study industry data and
compare the results of your operation with them?
Published data on other businesses in
your field are helpful in giving you a basis of comparison for
your own determination of such elements as initial markup, cash
discounts, gross margin, expenses, net operating profit, stock
turnover, percent of old stock, and sales per square foot.
7. Do you think in terms of ratios
and percents, rather than exclusively in dollars-and-cents?
A sales increase of $1,000 may seem
excellent to you, but is not if it represents only a 1%
increase.
8. Do you use a variety of
measures of productivity, such as:
a. Net profit as a percent of your
net worth?
b. Stockturn (ratio of your sales to
the value of your average inventory)?
c. Gross profit margin per dollar of
cost investment in merchandise (dollars of gross margin divided
by your average inventory at cost)?
d. Sales per square foot of space
(net sales divided by total number of square feet of space)?
e .Selling cost percent for each
salesperson (remuneration of the salesperson divided by that
person's sales)?
The first three ratios above measure
the productivity of your investment; the next one, the
productivity of your space; and the last one, the productivity
of your sales staff (including yourself).
Buying
1. Do you have a market
representative, such as a resident buyer, who assist you in
selecting sources and merchandise, in obtaining low prices, and
in promoting merchandise purchased?
Market representatives vary with the
type of store they serve. Your membership in a progressive
buying group, including a voluntary chain serving non-competing
stores of your size and type, is an essential element in your
ability to compete with the large chain store. You have
responsibilities to a market organization, too. You should keep
it fully informed of your requirements and of the local
situation, and you should cooperate in the execution of group
purchases.
2. Have you worked with your
buying group to develop and promote private brands?
Nearly every small store should carry
and feature leading national brands. However, private brands of
high quality can build prestige at an adequate markup if
national brands are subject to sharp price cutting, carry an
inadequate markup, and have no great hold on the store's
customers.
3. Do you examine the turnover and
markup on your goods to see which you could buy more profitably
direct from the manufacturer and which you should continue to
buy from local wholesalers?
Wholesalers can often give you better
terms than a manufacturer; and they are helpful in maintaining
full assortments so as to minimize lost sales. It is frequently
possible to pay more than "direct-from-manufacturer" prices and
still make a greater dollar profit.
4. Are you continually searching
the market for the most suitable merchandise, prices, and
services rather than relying too much on established sources?
In every line, new suppliers
continually appear and old ones lose their importance.
Successful retailers who have been leaders for many years are
always on the alert for something better.
5. Do you have a rule that all
salesmen who ask for an appointment are seen by you or your
buyer?
Such a practice insures that you will
not become unduly dependent upon past sources.
6. Do you try to concentrate your
purchases in each classification with a relatively small number
of key sources, rather than spreading them widely over the
wholesale market?
Each year or season, you should
select the group of sellers who are to receive the major portion
of your business. Concentrating your purchases results in better
service; sometimes you will also get better prices.
7. In developing a key source
list, do you make a seasonal study of the volume sold of each
vendor's goods, including profitability?
If it is not practical to make a
vendor analysis in the store, you should ask each vendor to
report total sales to you each season. You can then take your
inventory by vendor lines. Comparing each vendor's sales to you
with closing and opening inventories will give you a reasonably
accurate measure of the relative value of your different
sources.
8. Have you trained yourself to
keep distinct customer groups (even particular individuals) in
mind when selecting merchandise and assortments?
You can reduce errors in selection if
you have a person or group in mind for every item you purchase.
The small merchant who knows many customers personally has a
great advantage here.
9. When reordering new items that
have shown volume potential, do you make it a point to order a
sufficient number?
If you think an item is worth
stocking after an initial experiment, you should stock it
adequately, particularly in what you have determined to be the
most wanted sizes and colors. And conversely, a reorder late in
the life of an item requires careful consideration. "Going to
the well" too often can kill your profit.
Everyone Requirements To be knowledgeable
about the Decision Making Process. All of us rely on advice, and
techniques or tools, to
help us in our everyday lives.
When we head out To eat, the restaurant menu is the
instrument which provides us with the information required to
choose what to
purchase and how much to spend.
Operating a Business also requires making decisions using
techniques and information - how much inventory to maintain,
what price
to sell it at, what credit arrangements to offer,
how many people to employ.
Decision Making Procedure in
business is the systematic process of identifying and solving
issues, of asking questions and finding
answers. Decisions
are created under conditions of uncertainty. The future is not
understood and occasionally even the past is
suspect. This
guide opens the door for business owners and managers to find
out about the selection of techniques which may be
used to
boost your decision making process in a world of uncertainty,
change, and uncontrollable conditions.
A General
Approach to Decision Making Procedure. Whether a scientist, an
executive of a major company, or a small business owner
you
are able to benefit from improving your decision making skills.
The general approach to systematically solving issues is the
same. The following 7 step approach to better management
decision making can be utilized to study nearly all issues faced
by a
business.
State the problem. A issue first has
to exist and be recognized. What is the issue and why is it a
issue. What is ideal and how do
present operations vary from
that ideal. Identify why the symptoms (what is going wrong) and
also the causes (why is it going
wrong). Attempt to define
all terms, theories, variables, and relationships. Quantify the
issue to the extent possible. In case
the problem, not
correctly and fast fulfilling customer orders, try to determine
just how many orders were incorrectly filled and
the length
of time it took to fulfill them.
Define the Objectives.
What are the goals of the study. Which objectives are the most
crucial. Objectives usually are said by
means of an action
verb like to reduce, to increase, or to enhance. Returning to
the customer dictate problem, the significant
objectives is:
1) to increase the proportion of orders filled properly, and 2)
to reduce the time necessary to process and order.
A
sub-objective could comprise to simplify and streamline the
order filling procedure.
Grow a Diagnostic Framework.
Next set a diagnostic frame, that is, determine what approaches
are going to be utilized, what kinds
of information are
needed, and how and where the info is to be found. Is there
going to be a consumer questionnaire, a summary of
company
documents, time and motion tests, or something else. What are
the assumptions (facts assumed to be correct) of this study.
What are the standards used to evaluate the study. What time,
funding, or other limitations are there. What kind of
quantitative
or other specific processes will be used to
analyze the data. (Some of that will be covered shortly). To put
it differently, the
diagnostic frame determines the scope and
methods of the entire study.
Collect and Analyze the
Data. The next step is to gather the data (by following the
methods created in Step 3. Raw data is then
tabulated and
coordinated to ease analysis. Tables, charts, graphs, indicators
and matrices are some of the standard tactics to
organize raw
data. Analysis is the critical requirement of audio business
decision making. What does the data reveal. What facts,
patterns, and trends can be seen from the data. A number of the
qualitative methods covered below may be used during the step to
determine details, patterns, and trends in data. Obviously,
computers have been used extensively during this measure.
Generate Alternative Solutions. After the analysis was
completed, some specific conclusions about the nature of the
issue and its
resolution must have been reached. The next
step is to develop alternative solutions to the issue and rank
them in order of the
net benefits. But how are alternatives
best generated. Again, there are some well established
techniques like the Nominal Group
Method, the Delphi Method
and Brainstorming, amongst others. In all these methods a team
is involved, all people who have examined
the data and
analysis. The method will be to get an informed group indicating
a variety of feasible solutions.
Develop an Action Plan
and Implement. Select the best answer to the issue but be
certain to understand clearly why it is best,
which is, the
way that it achieves the objectives established in Step 2 better
than its options. Then create an effective method
(Action
Plan) to execute the solution. At this stage an important
organizational thought arises - that is going to be responsible
for seeing the implementation through and what authority does he
possess. The chosen manager ought to be responsible for seeing
that all deadlines, tasks, and reports are performed, met, and
composed. Details are all important in this measure: reports,
programs, tasks, and communication will be the key elements of
any activity plan. There are lots of techniques available to
decision makers implementing an action plan. The PERT method is
a way of setting out an entire interval like an action program.
PERT will be covered shortly.
Evaluate, Acquire Feedback
and Monitor. After the Action Plan was implemented to Solve a
problem, management has to evaluate its
own effectiveness.
Evaluation Standards must be determined, feedback channels
developed, and monitoring performed. This Measure
should be
performed after 3 to 5 weeks and at 6 weeks. The goal is to
answer the bottom line question. Has the issue been solved?
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