5 tips for building an NDIS business
Expert blog series | 2 minute read
Building your business from the ground up can be a daunting exercise in any industry. For those looking to build an NDIS business, there are some unique challenges that need addressing when it comes time for them to start out.
For hard-working support workers who provide a caring and personable service to participants, business intricacies can often be forgotten. This article will cover influential tips that can help grow your organisation.
1. Policies, procedures & protection
When establishing the foundation for your business, it is important to outline all policies and procedures. The more organised you are from day one will mean less stress and headaches down the path.
The National Disability Services (NDS) website is an excellent resource for anyone looking to create or update their own policies and procedures. There are a multitude of templates available and businesses like Centro ASSIST with technical writers that will keep you updated on regulatory changes
2. Business planning & setting goals
The easiest way to set goals for your business is by creating an actionable plan. Develop ‘short’ attainable goals as they will give you the motivation you need to reach longer-term objectives.
A great starting point to planning is aligning your resource expenditures with your goals. Setting specific, measurable, achievable, relevant and time bound (SMART) goals can help give you our efforts focus and increase the chance of success.
3. Pricing your services
The NDIS price guides are a great starting point for individuals who want to get the most out of their time and grow successfully.
These guides are there to ensure that participants get good value for money. Price your services appropriately depending on the type of work you are delivering.
4. Growing the business
You know that feeling when you set out on an adventure and everything seems great, but then something goes wrong? It can be frustrating because your plans weren’t executed just as you had hoped. Small incremental developments are important for keeping the plan in alignment with goals; they help guide us along our way, so we don't get too excited about taking one step forward only to take two steps back. Some of these developments include:
Online Presence
Brand & Branding
Building your reputation
Managing expectations
5. Business reporting
The importance of having high-quality reports cannot be overstated. Reports allow you to keep tabs on your business from a range or perspective, helping ensure its health and stability while giving valuable insights that can help grow it even more.
To stay on top of the numbers as your business grows, here are some key reports that will help you monitor its growth:
Invoice/Sales Report
Debtor Report
Expense Report
Financial Summaries
Sales & Marketing
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