Why it pays to focus on a niche

Market segmentation has been a successful strategy for years, yet many do not benefit from implementing this approach. Most individuals know they cannot be all things to all people, but their businesses models underperform because they are trying to do just that. By dividing a large population into segments, a business can then position itself to better fulfill the needs of one unique group.

Ten benefits of concentrating on one target market.

1. Less distractions. The scope of products and services a niche needs become narrowed, making it easier to grow to be a specialist, tailoring a customized offering, which improves satisfaction, retention and advocacy.

2. Efficiencies. Service offerings and operational processes can be much more refined, preventing a business from being pulled in too many directions.

3. Word of mouth. News will spread recognizing the business as “the one” to use in exclusive circles that are sometimes hard to penetrate.

Click here to view the entire article http://byrnesconsulting.com/2010/09/03/why-it-pays-to-focus-on-a-niche/

I had the pleasure of interviewing Ron Henry, Chief Development Office for North Fulton Hospital and Kamela Sooknanan, RN Associate Administrator of Clinical Quality Improvement for North Fulton Hospital.

Both Ron and Kamela have work diligently to increase the quality of care for the senior patients who enter into care at North Fulton Hospital.

We met to discuss an outreach program that they have developed to bridge the lines of communications between the hospital and the senior living communities that serve the patients being admitted to North Fulton Hospital.

The outreach program is 3 pronged:

1. Care Transitions Task Force-which is made up of clinical representatives from a senior community. North Fulton is currently seeking more communities to become involved in the task force. If your community is interest in becoming involved in the solution to care for seniors please contact Kamela Sooknanan at (770) 751-2973 or email to kamela.sooknanan@tenethealth.com.

2. Senior Care Network

3. ACE Unit

To learn details about each of the three components to this cutting edge approach to senior care, be sure to watch the video…

Myth: I don’t want to give up my independence! Truth: Your own space without the hassles

Privacy and independence should be maintained when living in a senior assisted living community. Most communities provide you with a choice of spacious apartments with different floor plans and separate entrances. You are free to furnish your apartment with your own furniture and personal items. The doors to your apartment lock and are controlled by you. You should also feel at home and absolutely secure in your environment.

Myth: My loved ones need to live with me just in case something happens and they need help. Truth: Help is just a call away.

Senior assisted living communities allow you and your loved ones to relax, freeing all to pursue enjoyable activities. These communities are designed to reduce worry that often comes from living alone. Features are in place to respond quickly and immediately to you in the event you need someone to help you.

Myth: I won’t know anyone and I will have to leave what I love doing. Truth: Opportunities to make new friends and to try new hobbies

Studies have shown that people who are active and engaged are healthier and happier. Extensive activity programs give all residents options and choices tailored to their specific needs, desires, and even lifestyle. These programs reduce the isolation felt when living alone.

As we get older, our lives change—often in unexpected ways. You don’t have to be alone in facing these changes. Senior assisted living is a viable option and can enhance your quality of life empowering you to live that life the way you want to.

Article provided by Atria Senior Living Group, www.atriaseniorliving.com

Erica Parker
Commercial Lending Solution
Capital Solutions for Assisted Living
(770) 989-7063

If you need money for your business, your first thought is go to your local bank and speak with your favorite banker.  The banker than takes your request to their loan officer.  Once this person reviews your information, they will contact and advise you as to whether or not your request fits into their lending parameters.  This is the key to securing funding for your business with any lending institution.  Does your need fit their portfolio requirements?

Lending Parameters are very real and vary from lender to lender.  For example, there are some lenders who prefer not to include hotels in their lending portfolio, which means a customer desiring to acquire or construct a hotel would not fit into their lending practices.

True story….  I received a referral from a lender who was unable to fund the construction of a hotel for one of her favorite customers.  The project itself made sense.  The borrower had bought and built over 14 hotels over a 20 year span.  All of those hotels still in his portfolio are performing well even in this economy.  He has already invested over $1.2 million of his own capital in this project and needs less than $3.0 million to complete it.    His personal financial statement is stellar and experience level superb.  So why on earth would a lender not do this project for one of their longtime customers?  Because the property type (Hotel) no longer fits into their lending parameters.  Simply put, the lender is not interested in hotels.

The beauty in this is there’s funding available with other lenders who actually have a taste for YOUR business.  Whether it’s a restaurant, hotel, office building, industrial building, etc., the key is to find the right fit for both the lender and borrower.  This is one of the values of working with a reputable commercial broker.  For example, CLS has already made the upfront investment with dozens of funding resources to understand their lending parameters, their appetite for certain transactions and their tendencies for SBA guaranteed loans. Bridging the cause of borrowers and lenders, that’s what CLS does best.   What’s your cause?

Erica Parker, Owner/Broker    Commercial Lending Solutions     www.clscause.com

Commercial Lending Solutions is unique because nobody else offers PROPEL–Progressive Review and Opportunity Proposal for Excellence in Lending.

We are unique in the commercial lending industry because of our exclusive service to borrower and lender called PROPEL. Some brokers offer an executive summary, but the affect is not very compelling. Our propriety service is propelling, increasing the likelihood of closing with favorable terms & conditions.

We first understand your cause, then invest in it. We make a propelling case for the optimum lender, advancing your deal to closing table.