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How do you know whether a new business opportunity is actually worth pursuing?
In this episode of The Business of Behavioral Health, Alicia Williams shares the key questions she considers before adding a new service or business line to her behavioral health company.
From passion and staffing to finances, compliance, insurance, time, and strategic fit, Alicia explains why growth isn't simply about finding another way to make money. The right opportunity should make sense for your clients, your team, your resources, and the long-term direction of your business.
She also discusses the importance of coordination of care, preparing for regulatory changes, building the right referral network, and knowing when an opportunity may be better left to someone else.
In this episode, you'll learn how to: • Evaluate whether a new service fits your business • Consider staffing, finances, and operational capacity • Think through compliance and regulatory requirements • Determine whether an opportunity supports your clients • Assess how a new service fits into your strategic plan • Know when saying “no” is the smarter business decision
The Business of Behavioral Health is hosted by Alicia Williams, CEO of You Turn Behavioral Health Services and Founder & CEO of Humanity in HR.