Customer Service Archives - Moore Diversified Services, Inc.

Addressing Cost Increases with Residents

Posted on June 15, 2017 by MDS

“You’ve Got Questions . . . We’ve Got Answers”

We struggle with a very real and emotional issue; the annual increase in monthly service fee increase for senior living residents. How do we address this issue with our residents?

You are dealing with a very significant financial challenge. First, the facts; 1) seniors will only get a Social Security increase of 0.3% in 2017, 2) short-term CDs and money market funds have returns of less than 0.3%, 3) inflation as reported by the September, 2016 Consumer Price Index (CPI) for all items is currently 1.5%. These indices may reflect inflation of individual commodities, but the CPI does not appropriately track the real world of a senior’s typical costs incurred in senior living communities. The two areas of highest cost for sponsors and owner/operators are dietary, representing approximately 20% of total operating expenses and direct care, typically representing over 40% of operating expenses. In 2016, the annual increase in employee wages represented approximately 2.5% to 3.0%. Similar increases are planned for 2017.

Current industry benchmarks reflect annual monthly service fee increases of approximately 2.5% to 3.5% for 2017. The industry typically attempts to realize a 0.5% to 1.0% positive spread between a community’s annual increase in overall operating expenses and offset moderate increases in monthly service fees.

In attempting to make these numbers work, consider at least the following; 1) occupancy enhancement, 2) responsible expense reduction and 3) optimized unit pricing. Enhanced financial performance represents both a pressing need and a huge opportunity frequently overlooked by many owner/operators. In in 2017 and beyond, it will become a significant imperative.

An operations analysis by MDS will identify opportunities for improvement. A detailed overview includes Optimizing Income statements; expense management while increasing Net Operating Income, Operating Margin, Cash Flow. Contact MDS today for an appointment.

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Has Your Senior Living Community Adapted to the New Information Paradigm?

Posted on July 15, 2015July 16, 2018 by MDSadmin

Welcome To The New Information Paradigm!

There has been a new day dawning concerning the flow of information in the Senior Living industry the last few years. Some in marketing/sales have gotten this and some haven’t quite embraced the movement yet. The larger movement has been from transaction-based selling to relationship building. Transaction-based selling is where the sales person shows the prospect the living unit and dining area and then does a 30-minute information dump about their community.

Relationship building involves a lot more listening than talking, asking the right questions, really being interested in the prospect’s current situation, their history, wants and needs, and opinions, and really CARING about them, not just lip service. In this piece I’m not going into the entire relationship building concept, but more how the information is exchanged today. The New Information Paradigm!

How Things Have Changed

Back in the day, and even up to a few short years ago, the sales/marketing person at a community controlled all the information. The Senior Living Industry was a newer concept and not that many people outside the industry really understood the concept. This is still true today to some extent, but getting better. Prospects and their families usually related all Senior Living options to the Nursing Home days of the 1960s, which today couldn’t be farther from reality for 95% of the Senior Living spectrum from Independent Living to Skilled Nursing.

So when a prospect walked in, their mind was a blank canvas that the sales person could color in this new concept of Senior Living. Or worse, the prospect and family had a very negative image based on memories from their childhood. However, our industry has grown and matured. With the proliferation of professional marketing and the adoption of the internet, we now have smarter, demanding, more resourceful consumers than ever before. This puts the real power in the hands of the consumer.

A typical sales person at the community level doesn’t get involved until much later in the process, or their families’ information gathering process, now. The days of touring and just providing an information dump are no longer effective. Approximately 80% of the prospects that call or walk through your door in 2015 have already thoroughly researched you and your community. This is also the first generation of prospects that likely had a family member in some form of senior living beyond the outdated nursing home concept of the 1960s. This is really great for the prospect/consumer, but now they know a lot more about Senior Living in general and probably know more about your competition than you know. Now the sales professional has to find out where the prospect is in this process and meet them there, not starting at the beginning. This will generally belittle a prospect and turn them off immediately.

Now more than ever it’s important for the sales person to take a deep breath and learn how to ask those probing questions. The open-ended ones! Opened-ended questions are designed to get the prospect talking, not as in closed-ended questions that require a Yes or No answer. A great example is to ask, “What brought you in today?” versus “Are you looking for a place to live?” Sales people should take the time to get to know the prospect and not be afraid to say, “We might not be a good fit for you”, instead of trying to shoehorn every prospect into their community.

Relationship Building

I increasingly dislike the term “Sales”. I understand it’s the discipline of closing, but over time it has received a very negative connotation. It conjures up the image of talking someone into something that they don’t want, need, or worse yet, can’t afford. While I won’t get on my soapbox here, it would be better to refer to them as Relationship Counselors or something similar, because that’s exactly what needs to happen—build a strong relationship with the prospect and/or their family.

Designing the correct approach to relationship building leaves no need for selling. If the right questions are asked, the need is found and then you have to decide if your community is a good fit or maybe not? If you don’t believe it is a good fit, you can offer to help point them in the right direction and/or make a few phone calls to communities that might be a good fit. The goodwill you build will be unimaginable.

When relationships are built, the Sales or Relationship Counselor is working to collaborate with the prospect. This doesn’t mean that objections cannot be overcome, like, “I can’t afford this” or, “I don’t want to just sit in my room all day”. Building a relationship and collaborating involves providing new perspectives and pointing out misconceptions, i.e. overcome objections, but just not trying to have a one size fits all model. You will just be recruiting unhappy residents at that point.

Get Away from Sales Myopia

I saw the use of a great term not long ago, “Sales Myopia”, focusing on our product and not the consumer needs. Unfortunately this is how a lot of Sales People still operate in the Senior Living Space. I was auditing a sales call the other day and the community’s sales person missed 5 opportunities to schedule a tour with the person on the phone because she was determine to give her rehearsed “information dump.” I know executives say this couldn’t be happening today, in 2015, and it sure couldn’t be happening in my community, but it is!

A few takeaways from this would be that the consumer is a much more educated and determined bunch than years ago. Throw away your information script because 95% of prospects will know you provide room, meals, and activities already. Individualize by asking questions and get to know the prospect. We tend to buy from those we like or relate to. Be consciously aware that most prospects have already researched your community and your competition. Take the sales hat off and get to building relationships. Ask those probing, open-ended questions. Find where the prospects are in the process and meet them there. Ask, “What brought you in today?” And most of all listen, really listen and care. Don’t be scared you might have to say, “Sorry, our community is not a good fit.” As a collaborator, our job is to find the best fit for the prospect and their family.

Register for Our Next Webinar on July 21st: 10 Must-Do’s for Community Call Takers

As part of MDS’ latest “Plug-In and Prosper” Webinar Series, Roy Barker, Director – Special Projects here at Moore Diversified Services, will use his years of experience in the Senior Living industry to share his wisdom of “10 Must-Do’s For Community Call Takers.”

Many times Community Call Takers make the first impression of your Senior Living community. How can they make the best first impression? How can Community Call Takers move the sales process forward and help create relationships? Community Call Takers are critical to your Senior Living community’s success. They can be the difference in a potential resident further exploring your community, or moving forward with your competitors. Join Roy on Tuesday, July 21st at 1:00 pm (CST) for this important webinar.

We look forward to having you join us!

Roy Barker is Director of Special Projects at Moore Diversified Services, a Fort-Worth, Texas-based organization specializing in Senior Living operations analysis, marketing development, and investment advisory services. Roy is an authority in the field of employee turnover analysis and retention strategies.

What is Your Digital Media Strategy for 2015?

Posted on January 28, 2015July 16, 2018 by MDSadmin

Are you about to move right past this post because you don’t believe you need one? THINK AGAIN!

Digital Media is now an integral part of any comprehensive marketing strategy/plan. While some products and services may use digital media more than others, every business needs to utilize digital media in some form to build and enhance client and customer relationships.

Product Marketing vs. Relationship Marketing

There was a time when you strictly marketed your product or service to your target audience. While that is still a part of an effective marketing plan, relationship marketing is extremely effective in our industry. As a provider in the senior living and housing industry you actually have two target audiences. The first target audience is the senior themselves. The second is the family members of the senior who may be the primary decision maker or at minimum highly influential in the decision making process. You must be building relationships with current and potential customers as well as their family members.

In the case of a senior living and housing community, if an individual is not a resident or has a family member as a resident, you still want to be the first community they think of if the need arises or if someone asks for a recommendation. This means getting your community name out there and engaging with the public, resident or not. This process does not have to be complicated. Start with a simple plan and build from there.

Website

First, no matter your marketing strategy, your size, your mission or your occupancy rate, you must have a presence on the web. One of the first places, a potential resident or family member will go is the web. Whether it is to just get contact information, an address to pay you a visit or to get an idea of what your community looks like, a large percentage of people immediately will look up your website opposed to the previous process of looking you up in the phone book.

“Up to 84 percent of all Americans now expect the Internet’s World Wide Web to provide them needed information on government, news, healthcare, and commerce, according to a new survey compiled by the Pew Internet and American Life Project.”

Having a website is 24/7 marketing. Websites market to those around the country. It can market to those you don’t even realize need your services; think out-of-town family members doing preliminary research on a community for their senior. It would be difficult to direct-market by mail to that particular audience.

Blog

If you have a website, the next easiest step would be to add a blog to your site. While blogs can be intimidating, they don’t have to be! Use it to simply give updates about your community, upcoming events and most importantly provide your audience some general tips, hints and information. This can include:

What is happening in your immediate area, not just your community
Helpful tips from your current residents about downsizing and moving
Advice on what to look for in a senior living community
Great recipes from your residents or their families
Profile some of your residents (with their permission of course)

A blog can be as simple or as sophisticated as you make it. Just be sure to keep it current so that anyone who makes it to your website will know the information is up to date.

Facebook

The next logical step would be to create a Facebook page for your community. You can basically use the same content as your blog on your Facebook page. Family members who are already on Facebook will enjoy seeing updates about where their parents, grandparents, aunts, or uncles are living. So many communities already have a presence on Facebook and have found great success with this strategy.

Resources

There are more resources available than we could list, so here are a few of our suggestions to get you started:

Million Dollar Web Presence by Chad Barr & Alan Weiss
Socialnomics by Erik Qualman
Likeable Social Media by Dave Kerpen

These can all be purchased from Westridge Publishing or most book retailers.

Stuck and don’t know the first step or maybe you need some reassurance about the path you’re taking? Let me help! I can perform an audit of your company and/or community’s digital footprint, provide guidance, and a sound plan of action for you.

Roy Barker is Director of Special Projects at Moore Diversified Services, a Fort-Worth, Texas-based organization specializing in operations analysis, marketing development, and investment advisory services. Roy is an authority in the field of employee turnover analysis and retention strategies

Kim Jimenez has been a regular contributor to the MDS website and MDS blog for the past 15 years. Kim holds a supervisory position in a Fortune 100 company and has extensive experience with a multitude of employee, training and leadership issues. She is currently obtaining her degree in Human Resource Management at Southern New Hampshire University.

Wishing You and Your Family a Safe and Happy Holiday Season!

Posted on December 23, 2014September 16, 2018 by MDSadmin

Happy Holidays From The Staff of MDS

We at MDS would like to take this opportunity to wish all of you dedicated to the service and care of the many residents aging successfully in communities around the world a Safe and Happy Holidays!

We especially thank those that will tend to residents on Christmas Eve and Christmas Day; there is no day off in an industry such as ours. To many of these residents, you are their family and you will make their holidays bright!

Thank you for your commitment to the betterment of the Senior Living and Senior Housing Industry.

Can your office survive without you? If it can’t you are doing it all wrong!

Posted on December 16, 2014September 16, 2018 by MDSadmin

The sign of a true leader is one who is constantly creating new leaders. These type of leaders inspire, motivate, educate, support and mentor others into positions of leadership. They cultivate the skills of others and strengthen their weaknesses.

In Boy Scouts, one of the main premises of the Eagle Scout project, and something you will be grilled on in you Eagle Board of Review, is the question: could your project have happened without you? In order to have a truly successful project, it must be so well planned out AND you must have designated, informed, trained other participants that a) you as the project leader do not actually work on project day and b) if you cannot show up for any reason, the project proceeds as planned.

This so goes against our nature of needing to be needed. We tend to feel if our business or department can survive without us, we have no value. We MUST adjust this way of thinking! If business as usual can proceed without you, then to your credit you have hired some very capable employees and you have trained them so well they know how to do their job. This then frees you up to focus on the big picture, more time for strategic planning and business growth.

Do you think you must be involved in every little aspect of your department? Do you require frequent updates and details on every project? Now we get into micromanaging, stay tuned…

Kim Jimenez has been a regular contributor to the MDS website and MDS blog for the past 15 years. Kim holds a supervisory position in a Fortune 100 company and has extensive experience with a multitude of employee, training and leadership issues. She is currently obtaining her degree in Human Resource Management at Southern New Hampshire University.

Strategic Planning Webinar

Posted on October 24, 2014 by MDSadmin

Moore Diversified Services presents Plug-In and Prosper Webinars:

A STRATEGIC PLANNING SERIES
Part 1 – Where Do I Start?
Thursday, Nov. 6
1:00-1:30 p.m. (CST)

At Moore Diversified Services your success is our goal. We are committed to equipping our clients with tools and strategies to make their businesses successful. As we close out fiscal 2014 and approach 2015, MDS would like to offer a special, COMPLIMENTARY webinar series on Strategic Planning.

Join Roy Barker, Director – Special Projects at MDS, for “Part 1 – Strategic Planning: Where Do I Start?” as he answers this question and provides insights into strategy planning. Topics will include:

Selecting a team
Employee Buy-In
SWOT Analysis
Data Driven Indicators
- Operations
- Marketing
- Employee Turn-Over

Space is limited. Don’t miss out on this special opportunity to learn from a company with over 40 years of experience. Click here to view webinar flyer

REGISTER TODAY!

Gold Is So Yesterday … Go Platinum!

Posted on October 21, 2014September 16, 2018 by MDSadmin

A guest on an NPR show I was listening to the other day mentioned the “Platinum Rule” in the context of how we treat others. I had no idea what they were talking about. Now, after a little research, I can see that I’m very late to the party. This is a concept that has been around for some time. For those of you who may be living under a rock, like myself, the Platinum Rule now trumps the Golden Rule.

The Golden Rule is, “Do unto others as you would have them do unto you.” The Platinum Rule, however, is, “Do unto others as they would like done unto them!” What a novel concept. While the Golden Rule sounds good on the surface, it is really kind of self-centered. This would mean that we think we know what is best for everyone else because that’s what we like or we want. While this could be very true, it could also be the furthest thing from the truth.

With people we have just met or known for a short time, we may not know exactly what they want. This is the beauty of the Platinum Rule. It causes us to shift focus from us to them. It forces us to try and determine what the other person really want or likes. It forces us to be an active listener and maybe even ask some questions. This also meshes well with one of my favorite Covey teachings, “We must first seek to understand.”

Different Personality Types

Dr. Tony Alessandra has written a book entitled The Platinum Rule. I just discovered this book and have not had time to read it. But, some information that I gathered from the website is that the book goes into detail defining personality types. According to the author, there are four basic personality types followed by tendencies of how these particular types of people behave and react. This is the first part of satisfying someone else, understand what makes them tick and what they might respond to. Then we can set about how to better relate to others and the different personality types, in trying to give them what they want.

I will not get too in-depth here, but did want to make a few observations about the concept. This concept should apply to all aspects of our lives from personal to business. Imagine the changes in our current relationships when we let all of our assumptions go and give careful thought to what others want and need.

The Platinum Rule in Business

The Platinum Rule can easily address two major components of a successful senior living operation – company culture and resident-centered care/lifestyle. Company culture is so important that Peter Drucker once said, “Culture eats strategy for breakfast.” Companies in other industries, such as the Container Store live by the principals of satisfied workers and satisfied customers. They usually rank in the top one of two best places to work and their customer service is off the charts.

I recently made my first visit to one of their stores and was very impressed. The employees were all very happy and they worked together to help me with my needs. The other important aspect is all the employees were sales people. While they didn’t work on commission, they did ask if I had this or needed that and were quick to recommend other services and products. This was not done in a hard-sell manner, but more in a helpful, we want you to have the best experience possible sort of manner … which I did!

Paradigm Shift

Can you imagine for just a minute how the residents of your community will feel when you make that culture shift? Really seeking to understand what they want or need and not just giving them what you think is good because it’s what you want based on your own values and beliefs.

Think of the possibilities if each and every one of your staff members had this attitude. You will have the happiest residents in town. Now think about what putting the same effort into understanding what your staff members want. Again, really taking the time to seek to understand what it is that they want. What do they need? Not only will you see an increase in customer satisfaction, but you will also see marked decreased turnover. While both of these will also improve your bottom line, think of the referral pipeline you will create. Not only for those wanting to live at your community, but the best workers wanting to work at your community.

If you ever have any doubt about what your staff or residents want or need, just ask! Yes, it’s that simple and both groups, in the right environment, will be more than willing to share their thoughts. Just ask and really listen to what the response is. Seek first to understand and then implement programs that the staff and residents want … not what you think they might want!

Roy Barker is Director of Special Projects at Moore Diversified Services, a Fort-Worth, Texas-based organization specializing in operations analysis, marketing development, and investment advisory services. Roy is an authority in the field of employee turnover analysis and retention strategies.

What Else is Aging at Your Community?

Posted on October 9, 2014September 16, 2018 by MDSadmin

This is a continuation of the top priorities for success in 2015 and beyond. Previously, we talked about increasing resident age and acuity levels. In this edition, we will explore the impact of age on the physical plant. Because there were a lot of communities built in the 1980s and 1990s this has led to quite a bit of older inventory still in use today. Some owners have done a great job keeping up and some … not so much.

The old saying is true. You never get a second chance to make a first impression. Curb appeal can be inviting or may discourage prospects from stopping. The first step the prospect and their families take into your community will be the lasting image in their minds.

Can’t Judge a Book By it’s Cover … but we sometimes do

Even though I have been around the Senior Living Industry long enough to know that a building or the grounds are not always an indicator of the community, great care, or special features I might find inside, it still has an impact. It’s almost like starting at a deficit on the expectation scale and then having to rely on the tour, staff, and other factors to bring the community back into positive experience territory.

While this is not a great way to evaluate a community, it is human nature. I have been in some of the nicest communities built and have had poor experiences and on the converse, I have been in some marginal looking buildings that had the best atmosphere and service I have experienced. The difference is, I was visiting the community because of my job. Had it been for my mom or dad, we might not have stopped.

So you can only imagine how a prospect and/or their family members must feel. Sometimes the deficit can be too large to overcome, and that’s if they choose to stop and look. Unfortunately, sometime they keep driving to the next one on the list and don’t stop to give you the opportunity to prove how awesome your community is.

Update Ideas

Not only is the styling important, the need to look as modern as your nearest competitor, but sometimes you will also find operational inefficiencies, decreased ability to address the rising resident acuity, along with a decreased pricing flexibility to remain competitive.

Some ideas include updating the units themselves along with interior hallways. Depending upon the age and the need, this can run from $30,000 to $40,000 per unit. If you have a mixed-use community, such as Independent Living and Assisted Living or Assisted Living and Memory Care, you will want to consider existing unit mix and consider altering the mix going forward. Don’t forget the common areas and pay particularly close attention to entry areas. This should be warm, inviting, and make residents and visitors feel instantly at home.

It’s important to not only keep up with interior renovations and updates, but exterior, as well. If possible, ensure you have adequate and modern signage along with a well-manicured and landscaped entry way. Make sure exterior features are updated and maintained. Again, I feel the need to stress the importance of curb appeal and an inviting entrance to your community.

Plan Ahead

It’s important to remember that even if you have a new or newer building, the aging process has already begun. You must begin immediately to plan for the future … eventually your building will be the more mature property on the block. You can do this through a couple of means. One is a typical Cap X allotment of $300 – $500 per unit per year or an extensive and more formal annual Cap X plan.

These are also great opportunities to incorporate into your strategic planning for 2015 and beyond. MDS has a plethora of experience when evaluating the needs of your community to continue to remain successful. We can help you develop optimal unit mixes based on the market in which you operate. We can also help with the financial evaluation of the proposed changes to community to ensure a minimum impact for current and future residents. We look forward to hearing from you and working with you and your professional team to create a model for your continued success.

Roy Barker is Director of Special Projects at Moore Diversified Services, a Fort-Worth, Texas-based organization specializing in operations analysis, marketing development, and investment advisory services. Roy is an authority in the field of employee turnover analysis and retention strategies.

Be an Appreciative Rock Star!

Posted on October 2, 2014September 9, 2018 by MDSadmin

I love music. I can’t sing or play an instrument, but I do love music and music trivia. Recently I had the good fortune to see a great band, one that has been around for many years, at one of my most favorite venues in the entire world, the Casino Ballroom in Hampton Beach, NH. It was a terrific show and fun was had by all, (including the guy sleeping in our car when we came out! For those who follow me on Facebook, you understand, and for those who don’t, that is an entirely different story.)

But, as we were leaving the concert we walked by the band’s bus. I was very surprised and saddened to see what happened next. Although there were only about ten fans around, two of the band members ducked their heads down attempting to hide from us. The sad thing was that, although most of us were old enough that we were past the “star-struck” stage and autographs don’t mean that much to us, there was a young man there who had been waiting patiently to meet the band and possibly get an autograph. It was troubling that they couldn’t have taken 10 minutes to sign a few autographs and mingle with their fans. It would have done wonders for their image. They seem to have forgotten how and why they had become so successful … fans liking them and their music.

With a Little Help From My Friends

It made me think of the senior living industry and other businesses I patronize. People like to be known and recognized. I go to a couple little local restaurants and diners where I know the owners. They never fail to stop by and say “hey” and make you feel welcome and appreciated for your patronage. I have befriended a manager at a national chain and he never fails to stop by my table and talk for a few minutes and even comps my meals most of the time. If I see these people on the street, in a different environment, they still speak and we treat each other as friends.

The same holds true for residents and their families in Senior Living communities. They think of you as the “Rock Star” of your community. They want to be known and feel like they

know important people. They want to feel that they are important and meaningful in the community in which they live, to feel like they count for something and are appreciated. Some residents don’t have a lot of outside interaction and the staff of the community may be all the outside interaction they get in a day’s time.

Rock On

I know there are days that we feel we just can’t speak with another person or we will explode. Can’t face a certain person because they always have a complaint or want to talk for 20 minutes. And there are those days we are so busy with other things that we just blow by our residents without giving them the time of day, but we have to remember why we do what we do.

It is important to remember they are the reason we are there (because they pay a monthly service fee). I think it is very important for staff members to be present, visible, engaging, and attentive. There are those who work in offices, behind closed doors, who have to put forth the extra effort to get out and be seen among the residents. It is important to remember that when we step out from behind the confines of our office that we try and clear our minds and anticipate running into residents who will want to engage with us (good or bad, long or short.)

Be an appreciative Rock Star, put on a smile and say “Hi!” to as many residents as possible every day. We never know, that might be the only smile they see that day.

Roy Barker is Director of Special Projects at Moore Diversified Services, a Fort-Worth, Texas-based organization specializing in operations analysis, marketing development, and investment advisory services. Roy is an authority in the field of employee turnover analysis and retention strategies.

Conduct a S.W.O.T. Analysis Before You Need a S.W.A.T. Team!

Posted on September 30, 2014September 9, 2018 by MDSadmin

You have the ability to take your business wherever you can imagine. The first step in any journey is planning. The old mantra goes, plan your work and work your plan. Those are great keys to success. Develop a plan and then focus and stick to it. Not that it won’t need tweaking and adjusting along the way, but as long as you can stay focused and true to your mission and goals, you can accomplish anything in life and in business.

The first part of planning any journey is to decide where you’re at currently. I was raised back in the day of paper maps. Every summer my grandparents would take us on vacation and I would be the navigator. About a week before we left my grandfather would sit down with me and a map and we would not only map out our primary route but we would also have a secondary route as well. The very first step of this process every year would be pointing to the reference of Fort Worth, Texas on the map and he would say “this is where were starting from”.

Current Location

It’s the same way with business. You have to know where you’re at before you can develop a great plan leading to your desired goals. That is the beauty of the S.W.O.T. analysis or Strengths, Weaknesses, Opportunities, and Threats analysis. It’s a great process to perform in order to start the planning process and create your roadmap or strategic plan for success. This analysis works well for evaluation of products, departments, strategies, or an entire company.

The first part of the analysis, the S.W. (or strengths and weaknesses) portion, is an internal view of the product, department, or company. You are looking for and listing strengths and weaknesses of the target you’re evaluating. It can vary depending upon what you’re evaluating, but here are a few examples.

Strengths could include:

What does your organization do best?
What’s unique about you product, staff, company, or etc.
To what resources do you have access?

Weaknesses could include:

Employees not trained
Substandard customer service
Sales process too complicated

The second part of the analysis, or the O.T. are the opportunities and threats you see, which is a view of the external. These are the opportunities and threats created by or posed by outside forces to your product, department, company or whatever you are evaluating. Again, this will depend upon what you’re evaluating, but here are a few examples.

Opportunities could include:

New trends
New markets
Organic growth possibilities

Threats could include:

Existing competition
New competition
Competitors’ use of new technology

Planning Tool

While this was a very condensed overview of a S.W.O.T. analysis, you can see the value in performing one before beginning your strategic planning for 2015. It is also important to get buy-in for those who will be participating. It is advised to reach outside of your executive team and chose employees to participate from different departments and levels in the company. To ensure open and honest dialogue, employees will need to feel the environment is safe and they may speak freely.

Schedule a series of meetings over the course of a few weeks instead of one long session. This will help keep everyone focused on the task at hand and not worrying about day to day activities. Make sure there are no cell phones and only interruptions for true emergencies.

Keeping the sessions positive is a MUST. Even though you may uncover some things in which you were unaware or are troubling, look at this as an opportunity. Had you not conducted the S.W.O.T. analysis you might not have discovered challenges until it was too late. Draw on the message in my last blog about balance, when things seem out of control, there are still opportunities to be had.

I would enjoy working with you and your professional team to help you conduct both a S.W.O.T. analysis and a business wellness checkup, as well as moderating your strategic planning sessions. These two tools will be a great way to kick off and jump start your 2015 strategic planning process.