Where’s your Senior Living Community losing the largest amount of revenue?
Where? Usually from revenues not realized – the money you’re not making.
Why is this missed by so many? Well, it’s not there to be seen in the first place. It takes a fairly experienced executive to not be so activity-reactive to what slaps them in the face every week. Only those experienced enough can see the missed opportunities that are costing their community the most revenue.
A major flaw of many executives is to focus on certain areas they know or can confront, while leaving other areas completely neglected. They don’t confront areas that are in trouble or that they simply don’t like. We’ve all seen someone who does this. We’ve probably done this ourselves. This is how you develop blind-spots. This is your “missed opportunity.” This explains why you go into an area and you see income opportunities left and right while your execs are running around on the same hamster wheel they’ve always been. They aren’t ignorant necessarily, just “in the weeds” as they say.
It’s understandable that things not there to be seen don’t get seen. But our jobs as executives is to discover those areas of unattained revenues.
We deal with companies on a weekly basis that are addicted to buying leads like business crackheads. They’ll spend exorbitant amounts of income on buying leads, which is fine for a short term fix. It’s easy to do, they don’t have to be strategic or confront PR or Marketing or Branding or conversions or anything else, they just pay for their HIT. And they stop there, they may even get “too busy” for more business. So they leave opportunities on the table.
Six months goes by, a year, a lot happens in six months to a year. Then that short-sighted, in-the-weeds approach catches up to you. Your unrealized revenue gets even MORE hidden from view now because sales are down, leads are slowing, and your attention gets completely focused on what you “used to have” like a mouse focuses on a snake. Now your unseen opportunities, your unrealized revenues, are invisible.
Every year this happens is another year that you’ve left untold amounts of revenue on the table for someone else to take. And yes, someone else did take it. I once had a client make over a million in revenue from our SEO program in the exact same time period another prospect was busy thinking about whether it was a good decision or not. That’s an expensive thought process.
So what are you waiting for? Stop thinking about things and wasting time.
The greatest amount of money that you’re losing is the amount that you’re not making.