Case Study: Vesta Senior Network
Profile
Pam Foti and Jenny Wagner started their business to assist older adults and their families in finding the best elder care community for their needs. The Vesta Way means treating every family as they would treat their own while guiding older adults and their families to the long-term care solution that is appropriate for them as individuals: the solution that will provide the best quality of care and quality of life in a financially sustainable way.
Problem
Rather than buying one of the many elder care franchises, Pam and Jenny wanted to build their own firm from scratch. The duo brought many important skills to their new business, especially sales and customer care, yet neither one had ever owned or run a business before. Furthermore, they wanted to build a real business that developed enterprise value over time, not just a practice that had no value once they stopped working. Cash management, HR, bookkeeping and understanding financial statements were all things they were willing to learn.
Solution
Through monthly “Board Meetings” with the Giersch Group, Jenny and Pam got a monthly dose of financial analysis, entrepreneurial “how to” and over time, developed a successful company with long term value. As the years passed, the Giersch Group helped them as they added their first employees, expanded their territory and services offerings, and figured out a way to work more “on” the business than “in” the business.
Result
Vesta has had tremendous growth over the years, built real enterprise value in their company, and most importantly created a uniquely successful culture that their clients and employees deeply appreciate. They still have their monthly Board Meetings with the Giersch Group, and while they do their own bookkeeping, they rely on the Giersch Group for the occasional bookkeeping review, financial systems tune up and supplemental Quickbooks training as needed.
“Having the Giersch Group on our team is like having a personal trainer. They help you surpass your personal best and take the risks needed to make it to the next level. With all we have invested in our business, we wouldn't have it any other way!”
Pam Foti and Jenny Wagner
Vesta Senior Network
