How will you make money with your Aging Life or Care Management Agency?
- Through your value proposition. What is a value proposition? It’s a promise of value to be delivered to your GCM or Aging Life customer. It’s the primary reason a client and their family should purchase a product or services from your aging life or geriatric care management agency. In a nutshell, a value proposition is a clear statement that
- Explains how your product solves customers’ problems or improves their situation (relevancy),
- Delivers specific benefits (quantified value),
- Tells the ideal customer why they should buy from you and not from the competition (unique differentiation).
The critical part
You are a Top Tiered GCM or aging life professional who welcomes long-term engagement of customers. That is part of your value proposition leading to one-time/long-term client engagements because that is how you make money. A long-term income does not appear on your website but in your business plan but it must be believed by every member of your team. The team shows it in how you and your staff serve your customer.
- Hire Care managers who understand (and convince yourself) that you want to make money and will bill for all your services. The door to profit is opened by hiring care managers who have no ethical dilemma about billing. You go through that door by employing care managers who are happy to bill clients and do not have to be trained, coaxed or even counseled to bill clients for their billable time.
- Make your target market the top 10% who can afford you. The target market for a private geriatric care management business is not the 65 million families who need those concierge care management services, but the much smaller subset of those families who can afford to hire a GCM or aging life care manager, are willing to pay for the services that GCMs and can actually find their way to you. This subset really represents the top 10% of the economic spectrum and more precisely the top 1% who actually held onto its share of national wealth in the 2008 economic crisis, and may have even gained a bit.
- Learn 5 critical success steps to start and run a profitable, GCM business, including marketing to Concierge clients, from Cathy Cress, the author of the Handbook of Geriatric Care Management now in its 4th edition. Sign Up Now
- Sign up for this limited enrollment webinar that will teach you to sidestep the 8 out of 10 entrepreneurs who start businesses and fail within the first 18 months. See you there.