How Will You Impact Organizational Revenue in 2018? 5 Questions for the Senior Living CEO

“Without reflection, we go blindly on our way, creating more unintended consequences, and failing to achieve anything useful.”

As a senior living CEO, it’s hard to take time to reflect.

Yet the decisions you make now will have an impact on your organization’s growth in 2018…and that’s reason enough to give Margaret J. Wheatley’s quote more than a passing glance.

But don’t think reflection is about locking yourself in your office, trying to think deep thoughts.

Instead, ask yourself searching questions.

The goal is to cultivate the reflection that leads to action…and positively impacts your operation’s bottom line in the upcoming year.

If you want to be the CEO that increases top-line revenue, here are 5 key questions you’ll want to consider.

#1. As a CEO, will I take responsibility for growing my organization?

How you answer this question will reveal your 2018 mindset.

As a CEO, it’s all too easy to gauge your performance by your local markets, other competitors, or the industry as a whole.

But here’s the reality—success starts when you take responsibility for growing your organization’s occupancy no matter your challenges.

Take some time to consider how well you’ve done this in 2017…and what you want to change in 2018.

#2. As a senior living CEO, will I commit to filling organizational positions with true talent?

Let’s face it.

It doesn’t matter how strong your C-suite is. You’ll handicap your organization’s potential if your regionals don’t hire the right on-site talent.

At Bild & Company, we see that—over and over again—the people who impact occupancy the most are often unqualified for their jobs.

McKnight’s Senior Living reports that, for assisted living, marketing staff has some of the lowest turnover compared to other positions at 11.33%.

However, we’d say this number needs to be a bit higher in your organization (temporarily) if you want occupancy to grow.

For 2018, critically evaluate the performance of your site-level teams, and replace unqualified individuals with trained and talented team members.

#3. As a CEO, will I focus on building value for my operation?

To put it simply, building value is cashing in on your organization’s strong points to increase occupancy—and thus revenue.

If you need a refresher course on building value, be sure to check out this article.

But when you start focusing on factors you can’t control, you shift the focus from growing revenue and decrease your productivity as a CEO.

Review the past year; analyze if you’ve been more focused on what’s keeping you from growing revenue than you have on the steps you can take to grow revenue. If you’ve lost focus, begin to make a mental shift for 2018.

#4. As a CEO, will I view occupancy growth as a mystery or a science?

In your organization, it’s easy to think of operations and clinical care as the more logical side of your CEO oversight.

You can bring efficiency to operations with better supply chain management…you can improve clinical care with strategic staffing decisions.

In contrast, growing occupancy can seem like a mystery.

But here’s the reality. Even though move-ins involve human variables (such as communication), that doesn’t mean increasing census isn’t a science.

If you want to grow revenue quarter by quarter, you’ll need to view occupancy growth as the result of clearly defined systems, proven strategies, and hard metrics.

Reflect on your beliefs when it comes to filling your apartments. Your mindset is critical for your 2018 numbers.

#5. As a CEO, will I work in my business, or will I work on my business?

At Bild & Company, this is a hallmark of who we are and what we stand for.

To impact revenue, consider how you can become a senior living CEO who…

Stops putting out fires.

Starts implementing strategies that work.

Stays focused on key goals.

In 2018, it’s time to partner with experts who can help you translate your reflection into strategic action.

At Bild & Company, we have extensive experience collaborating with senior living CEOs and empowering them to increase top-line growth.

Let’s have a conversation about your 2018 revenue goals.

Give our team a call at 1-800-640-0688, or get in touch with us online.

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