If you a Nurse, Social Worker or Aging Care Professional or Business Entrepreneur and want to start a profitable Aging Life / Geriatric Care Management agency
What Business Skills Do You Need?
A new geriatric care management business must spring from the intersection of three streams: your passion, your competence, and market opportunity. To start a geriatric care management business, the adage to “know thyself” becomes critical. Are you passionate about geriatric care management? You will need passion to sustain you when the situation gets tough—which it does in all beginning businesses. You must have the core competence both to be a geriatric care manager (GCM) and to run a business. Good GCMs with no business acumen, which is often the case, frequently fail in business. You must also have the market opportunity.
Is This a Good Choice for You?
If no older people live in your community, you may not be in the right place to start a geriatric care management business. If 10 other GCMs are practicing in your town, that may limit your own market opportunity. Finally, you need to assess why you want to start this type of business in the first place. Are you motivated by the financial gains? by community recognition? by a need to make a difference?
You Have To Know Cash Flow
You especially must understand billing and cash flow . Without this knowledge you will fail like 50% of new business do.