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Watch This Video Before Starting Your Home Health Care Business Plan PDF!

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!

For more insightful videos visit our Small Business and Management Skills YouTube Chanel.

Here’s Your Free Home Health Care Business Plan DOC

This is a high quality, full blown business plan template complete with detailed instructions and all related spreadsheets. You can download it to your PC and easily prepare a professional business plan for your Home Health Care business.
Click Here! To get your free business plan template

Free Book for You: How to Start a Business from Scratch (PDF)

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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