There’s nothing like a senior housing conference to sharpen your leadership skills and help you walk away energized, motivated, and inspired. If you were at the Louisiana Assisted Living Association’s (LALA) Annual Conference, then you had a chance to hear me speak in person on senior living leadership. But many of you didn’t make
What CEOs Should Know about Developing Senior Living Referrals…But Don’t: Insights from a Sales and Census Strategist
If you’re a senior living CEO, you know that focusing on the big picture is vital to the health and growth of your organization. At Bild & Co., we’re all about helping the C-suite focus on high-level goals. While it’s great to operate in the strategic stratosphere, spending 80% of your time on high-level goals
Turnover in senior living is a problem. From executive directors to sales team members, most operations struggle with communities that always seem to have a high churn rate. To find a solution, you have to dig deep into the dynamics of your community talent. And—for most operations—that means understanding a number of team members who
When opening a senior housing development, there are some non-negotiables for solid operations. >>Minimize unnecessary expenses. >>Create long-term relationships with key suppliers. >>Use technology to streamline activities. Put simply, following these and other industry best practices increases your chances for success. But here’s what you need to realize… Growing occupancy for your community is no
In 2018, many senior housing communities will serve the Silent Generation demographic. But that’s not going to last forever. According to CNBC, there are 10,000 Baby Boomers who retire each day. And as MarketWatch explains, these Boomers have an average of $263,000 in their contribution plans...even though they think they’ll need $658,000 for retirement.
As a senior living CEO, the burden is on you to increase net operating income and revenue at your communities. That’s why, when occupancy begins to plummet, you aren’t afraid to discount your prices, cut your staff, or cut certain services. But strategies like these can only temporarily halt your revenue loss. Eventually, you’ll need
When it comes to your senior living properties, having the right senior housing pricing is critical. After all, driving growth depends on accurately assessing your operation’s value and what prospects are willing to pay. While it’s important to set rates that maximize ROI, there’s another important consideration related to your senior housing pricing...sharing your information.
There’s no picture-perfect investment. No matter how strong the market demand is or how weak your competitors are, for senior housing investors, each portfolio carries its own share of risk. While some risks are small, others are weightier. For instance, purchasing a property in a less-than-ideal location could be less significant than acquiring several properties
The job responsibilities of the senior living CEO are many. Some days you’re analyzing operational costs...other days you’re holding meetings to successfully navigate regulatory changes. But most days, it seems as if your title should be ECO—Effective Communication Officer. After all, effective communication is critical when it comes to harmonizing competing stakeholder claims and
It doesn’t matter if you’re…. The CEO of a large senior housing organization. The executive director of a small community. A first-time investor in a senior housing development. A regional director over a number of senior living properties. Each of you has a goal in common—increasing your senior housing occupancy. And reaching this goal requires