More than half of all the entrepreneurs who had enough moxie to start a new company never, not even once, talked to potential customers before launch.
More than half of all the entrepreneurs who had enough moxie to start a new company never, not even once, talked to potential customers before launch.
This comes from an article titled What Entrepreneurs Get Wrong published at Harvard Business Review. You respond, “Yeah, so what, they are stupid and besides what does this have to do with senior housing?” Glad you asked here is why:
1. In the recent past I wrote about the dearth of technology innovation in senior housing arguing we are way behind, my assertion has never been challenged. Just yesterday I received an email from a gerontologist physician who had been contacted by another gerontologist physician who wanted an app that would help her easily find resources for her patients (here is a new opportunity for someone and you can have it for free. It doesn’t yet exist.
2. It dawned on me a few weeks ago, that one of the reasons there is not so much innovation in senior living communities is that operators and developers don’t have the information they need to innovate and that they don’t have that information because they are not asking the right questions.
Getting Better Data Because I am in a giving mood, I will offer you these three questions that have the potential to revolutionize your program and your design, if you are willing to take the time to ask them, noting they will be most effective when asked to residents who have moved in during the last three to six or seven months:
- What are the things you thought you would miss but don’t miss or don’t miss very much?
- What are the things that are better about living here than at home?
- If there were one thing you could do to this place to make it better what would it be?
Then take these same questions modify them to fit the different audience and ask your families the same three questions.
3. Almost everyone with any kind of leadership position will go to one or more conference that includes a trade show. Carve out a chunk of time to go explore the booths of start-up companies who at least think they have a good idea. (Nope this is not a pitch for Vigil Health Solutions call systems, we have been around way too long to be called a start-up.) When you get there listen their idea and give them honest feedback, good and bad, because you may be the only person willing to be honest with them. You could play a part in bringing to the mainstream the next wonder application or idea.
4. If you know someone with a great idea tell them about the LINKTank Innovation Competition, where 5 ventures with products aimed specifically at the senior care market – who are want input from customers will hear the unvarnished truth – and one of them will walk away with a check for $10,000.
5. If you are going to be within 100 miles of Chicago on July 22, 2013 come be a part of the LINKTank Competition audience and let your voice and expertise be heard. No cost to you to come and have your voice heard – and your participation might bring the next big innovation that makes a REAL difference in Senior Living and Senior Care.
What other advice do you have that will help our industry better innovate?
Steve Moran
If you like this story it would be a great honor to me if you would join to our email list.
We have developed an innovative affordable option for senior housing. Where seniors own an interest in real property, they self-govern and self-control the home and share the common expenses, taxes and care costs. They live for less and enjoy each other’s company and create an new extended family. They are no longer isolated and alone.
In our first shared home in ON we were overwhelmed by NIMBY’s from the neighbourhood, our seniors were threatened and ignored when they walked around the neighbourhood. It is not easy to be innovative as the community is so resistant to change. It’s going to take time but, every time we start another project in another community we face the same negative feedback. Sad really, the seniors and their families control the home we just consult and assist with the house operations but, for some reason it seems government and agencies feel that because seniors get old they must get stupid! I am ashamed! I can’t believe that is true.
Finally, last week i did a presentation in a community where they are excited, listening and interested and looking forward to new options for retirement living. In this case, i had a number of parents who have hired me to consult so they can develop a shared home for their mentally handicapped children (all the children are high functioning – they just need a little management of the home to ensure it runs smoothly) Together the parents can self-govern and self-control the home ensuring their children are safe. Our participation is controlled by the co-owners and the families who own it. We can manage the home or we will consult so they can find someone to manage the home. Either way, it works. It’s a WIN WIN for everyone.
i am very interested in LINKTank Competition but, i am Canadian so i am sure that will not work. Any thoughts please pass them on. Innovation is tough and you have to be tougher to succeed. I figure i am an example of the 5 year overnight success!
Great insight Steve! Having worked within this industry for 10+ years I’m astounded by our lack of innovation. New businesses that are cropping up tend to use the same models and ideas as others around them mostly just leading to an overabundance of similar services! Having spent 7 years as a sales & marketing director and another 3 as owner of a local placement company I have repeatedly found the biggest struggle that professionals (social workers, geriatric care managers, etc) have is the need to help families in crisis situations where services are needed quickly. When it takes me sometimes a week to find an opening (not because they don’t exist but b/c I’m leaving messages, waiting for return calls, etc) I can only imagine what a family goes through when searching for a loved one. After research, surveys and gathering feedback we have developed the nations first online platform for senior housing availability (www.seniorhousinglistings.com). We will continuously gather feedback, especially during this initial launch phase, and will continue to work towards creating a new, exciting and helpful tool for professionals and families alike.
From LinkedIn Groups
That may be true from some entrepreneurs, but not in the case of our company Senior Learning Network. The first people we asked were seniors. What do you need in your retirement center or other senior facility. The first answer was more learning experiences and the 2nd more ways to stay in touch with others. We are very proud that we listened to the seniors. http://www.seniorlearningnetwork.com
By Ellen Ervin
From LinkedIn Groups
I would have doctors on duty during the day, and Nursing available around the clock !
By Chloe Comins
From LinkedIn Groups
A major innovation for senior living is about to be unveiled. Facility owners and operators will become heroes to their residents. As we all know, residents in facilities are the frequent fliers into the health care system. Facilities often have designated areas for licensed hair care. What is now available is a one of a kind multi use room for licensed health care.!! Visiting providers will no longer have to set up mobile equipment in the facility conference room, hair salon or hallway. We are partnering with a market leader for installations as well as a major teaching institution in geriatric care. This amenity will be the new message from the entire senior living industry that clearly shows “We Care” about our residents.
By Stuart Boekeloo
From LinkedIn Groups
Atmosphere. Yesterday I worked on Mother’s Day. Throughout the building the TLC-TV channel was on the program “Say Yes to the Dress” . In the SNF all women had been presented a corsage by the building. Each corsage had a ribbon matching the color of the woman’s blouse. how elegant. Of course there was an afternoon reception with beautiful spring color table cloths. Meanwhile the Cubs were on other TV’s for the men. Thank God theCubs won. The “father” of the bride’s mood never changes.
By Paula Stone
From LinkedIn Groups
Great insight Steve! Having worked within this industry for 10+ years I’m astounded by our lack of innovation but it certainly leaves many exciting opportunities for those who do their research and listen to what they find!
By Wendy Mallon
I appreciate your articles Steve. I’m a new entrepreneur who recently left a 20 year career in Defense. I’m bringing my skills to this area of need to help those with changing needs stay included. I’ve spent the last 4 months engaging with the senior community by volunteering and by participating in action networks. I have learned a lot and I have been able to overcome some misperceptions that I had. I’m still very overwhelmed with trying to understand where technology innovation needs to be addressed but everyday I’m a little closer. I’m not surprised that most entrepreneurs think they have it figured out and don’t make the effort to understand the target market – what a fatal mistake. Thanks, Mike Good
From LinkedIn Groups
I would suggest an ipad be part of the welcome package for each will resident
Some exploratory one on one sessions with them, and they will soon be playing around with it, making the transition from home to community a great experience, as they will
be in touch with family and friends with Facetime at will exchanging news and networking
This helps alleviate loneliness
there are many simple apps like connectMyFolks which are free and just so simple to use!
By Mateen Ansari
I am a co-founder of a social startup aimed at the retirement industry called Postcards Communities. We moved into the retirement space from the consumer software world, working for major consumer brands in many different countries.
We moved because we see a lot of untapped potential in the industry, not just for revenue but also for the profound effect we’re able to have on people’s lives. However there are difficult aspects that make it hard to be an entrepreneur. We have been dealing mainly with parent companies of retirement communities, and the amount of time just to establish a pilot program, let alone a contract is enormous compared to other industries. One of our competitors has been trialling for 15 months now without a sale! That length of sales cycle is very difficult for a small startup to survive.
I can’t speak for other companies, but we have placed a huge emphasis on talking to families and residents. In the communities we pilot in we are there every week in person, at widely published times, interviewing residents and learning. This mother’s day we attended the brunch and met the families, and we communicate with them constantly via email soliciting feedback.
In terms of greater challenges of the industry, I believe that has a lot to do with a lack of technical standards. The retirement industry would do well to look to the larger hospitality industry in how it’s setting standards and facilitating a startup community through commonly agreed practices that let smaller companies solve small problems as part of a bigger picture, rather than having single companies build unwieldy, large products that inhibit flexibility and innovation. We hope to be part of developing those standards long term.
From LinkedIn Groups
When I was asked to render care in facilities I was always baffled that a room designated for care did not exist. I felt that I was not able to offer care to the best of my ability due to my surroundings. Fortunately, I am now partnering with some major forces in senior living to change things. The entire industry is filled with many kind and caring people. This amenity is a win win win for residents, providers of care and facilities. Take a look at the offerings of Aleydis Centers LLC.
By Stuart Boekeloo
From LinkedIn Groups
After having talked to potential customers in our target markets before launch and getting a 65% approval rate from our survey of a/l facilities, being able to connect with the decision makers has proven to be nearly impossible. My suggestion would be to “open up your heart and let the sun shine in”!!!
By Yvonne Parkel Bob Clark
From LinkedIn Groups
QuietCare Technology
Ecumen was one of the country’s first senior services companies to introduce GE QuietCare, an unobtrusive, proactive sensor technology that can help identify emerging health problems.
By Uzma Qureshi
From LinkedIn Groups
Music therapy can do spritual heeling it is not common could be popularize
By Uzma Qureshi
From LinkedIN Groups
Mateen, could not agree with you more. Sorry Steve, I also like Android but the iPad outsells the Android to seniors 3 to 1 based on navigation features. That is why http://www.theresidentportal.com The Resident Portal Version 6.0 coming in July is an iPad app as well as an upgrade from our current Version 5.0. We have already signed 4 new senior living client companies looking for innovation, one of which is the second largest SL company in the country. The Resident Portal iPad edition Version 6.0 is a game changer introducing residents to technology easily and includes communications, brain exercises, and lots of other fun stuff as well as Wellness Program tracking and community operations support. Simply too much to get into here, but yes, iPad is an easy innovation all seniors seem to like and can use. Great suggestion Matee.
By Steve Zasio
From LinkedIn Groups
Tangent, but not totally unrelated…we see this same lack of innovation when it comes to exercise equipment for an active aging audience. And I have to say, it’s wildly frustrating. We don’t expect equipment to be an exact perfect fit for every audience, but the manufacturers seem to think that their product is “good enough” as is to speak to the masses. Talk about a business opportunity…make a line of really quality equipment (cardio and strength) that is build for boomers and beyond. THERE IS A GIGANTIC NEED.
Thanks…I’ve stepped back off my soap box.
By Bethany Garrity
This is a topic I’m very passionate about. I’ve been providing technology services to the senior housing industry for over 6 years now. I can say with certainty that innovation is happening. There are dozens of companies creating innovative solutions that could be tremendously valuable to senior housing communities of all types.
The problem is that senior housing isn’t adopting innovation. iPads or Android tablets first need WiFi. Over 2/3rds of SNFs don’t have WiFi. The percentage of ILs and ALs without WiFi is even greater.
Communities are worried about filling beds and the ever decreasing Medicare reimbursements, but they’re trying to solve these problems the same way they have over the past 20 years. They’re overlooking the fact that the new generations of residents and families expect HD TV, WiFi, and innovative technologies. If a community is providing these services and BUYING the innovative solutions already on the market, then families and residents will look at them as a leader in care innovation instead of the ‘nursing home’ of the 1980’s. Purchasing innovative products will encourage more entrepreneurs to innovate even further. Innovations will lead to occupancy and operating efficiency. Its a self-fulfilling circle that senior housing operators simply aren’t participating in (there are exceptions of course).
By Carl Hirschman
From LinkedIn Groups
Steve – by the way, great article. What was said in my previous post comes from interviewing hundreds of operators and care stakeholders nationally.
Innovation involves risk. Step 6 to your article would be to buy some of the innovative products they are seeing.
By Carl Hirschman
From LinkedIn Groups
Carl is right for the most part, it is an constant uphill battle however there are several companies that get it. They are starting to see how WiFi or other simple technologies used everywhere else in the world are NOW expected. Understanding ROI for technical services can take a long time but it will get there.
By Steve Zasio
From LinkedIn Groups
Steve, I’m so happy to have found you and your Senior Housing Forum! I was interested in this article because I am an entrepreneur who has just competed a new product designed for the Senior market but was thrilled to find your Forum! It’s exciting to find another person who uses the words “inspiring” and “senior living” in the same sentence!
By Tamara Pape