Lenny Verkhoglaz

When analyzing ideas and figuring out if it makes sense for our organization, I consider how it will positively impact our performance, the costs associated with it and how it will make us more efficient.

 

Lenny Verkhoglaz is the co-founder, President and CEO of Executive Care, a Home Health Care franchise. His responsibilities include growing and strengthening Executive Care brand, improving the overall system and satisfying franchisees and customers. Before founding Executive Care, he spent nearly two decades in the health care and insurance industries in a variety of senior management positions. His management experience allows him to build and manage companies at all levels of growth.

In 2004, Lenny, along with his wife Mila and her brother Alex, co-founded Executive Care, today one of the largest Home Health Care companies in Northern NJ. They continue to own and operate their NJ location and are expanding across the nation through Executive Care’s franchising model.

Lenny graduated with Bachelors in Information Technology from Bernard M. Baruch College in NYC and Masters in Business Administration in Finance from Pace University, also in NYC. He is a resident of Hillsdale, NJ and has two daughters with his wife.

Where did the idea for Executive Care come from?

It all started when my wife Mila and I were asked to care for a neighbor in need. She was an elderly person with no family around to help her out. So, we volunteered to help her — it was quite an eye-opening and emotionally moving experience for both of us. As I reflected on it and started doing research, I realized there was a growing need for home care for so many people out there.

We have taken our model beyond our competitors — beyond companionship and just providing caregivers. We have taken a care-centric, long-term executive-level approach to our care programs, aiming to meet needs client didn’t even know they have.

What does your typical day look like and how do you make it productive?

As is the life of an entrepreneur, no two days are the same. I’m focused on multiple activities throughout the day to keep our home care franchise growing. One thing I do is try to focus on an issue of the day. There’s always that one most important thing I know I need to accomplish.

There are also long-range goals that I work on: doing a lot of research on our industry, expanding my knowledge of the franchise model and staying updated on regulations. We need to constantly ensure we follow the laws that impact home care, as laws in our industry change on a regular basis. Keeping educated on them ensures our company is operating at peak performance.

To keep days productive and focused, I ask myself: How is what I’m doing now going to have a positive impact on the families we provide care for? I think business of any industry would do well to keep the question of how they best service and add value to their customers top of mind.
The happiest moments for us are when we hear clients are doing better — that’s real productivity for our entire organization!

How do you bring ideas to life?

I’m very pragmatic about it: If I like the idea and it makes sense, I throw my support behind it.

When analyzing ideas and figuring out if it makes sense for our organization, I consider how it will positively impact our performance, the costs associated with it and how it will make us more efficient.

A lot of the ideas we’ve brought in have helped us improve our model, oftentimes bringing innovative technologies into our home care business.

What’s one trend that excites you?

The home care industry is just starting to pick up steam. Think about this for a moment: 10,000-plus people in America turn 65 every day. As Baby Boomers age and seek to live their Golden Years dignified, there’s a great need for our caregiving services. And, we continue to create opportunities for franchise owners who take our Executive Care model and recreate it in new markets. There’s so much to do in next 30 to 40 years in our business — I can’t help but be excited!

What is one habit of yours that makes you more productive as an entrepreneur?

I’m disciplined. I stick to what I’m doing and that has included growing Executive Care.

During the day, you’re going to be bombarded with a bunch of issues, to-do items and questions from team members and customers. As a leader, it’s imperative to be laser focused and disciplined. I make sure I take the most important task in front of me to completion — I don’t just drop what I’m doing for every issue that comes my way.

What advice would you give your younger self?

You should have gotten into this business earlier! Home care has been a tremendous business to be a part of and one that’s extremely fulfilling.

Tell us something that’s true that almost nobody agrees with you on?

Don’t believe the hype that there is a tremendous shortage of caregivers. Everyone believes in this issue of caregiver shortage and plenty has been written about the phenomena. But I think it’s true of any high-growth industry that it can be difficult to find labor. It especially happens when the economy is thriving.

We’ve found that the key is to create the right environment for our caregivers and a community where they feel empowered and inspired to go to work.

As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?

Believe in a system and follow it. Once you’ve created a model that works, don’t look back. When it comes to our franchise, the best franchisees trust in the system and follow our operations guidelines as closely as possible. Sure enough, they typically see the best results.

What is one strategy that has helped you grow your business?

Being honest with yourself, with clients and employees. You need to perform as promised — business is all about fulfilling your promises.

One thing I would caution any entrepreneur or business owner out there: Don’t overpromise and under-deliver. You need to properly manage the promises you give to customers, employees and associates.

What is one failure you had as an entrepreneur, and how did you overcome it?

We went through several care moments or episodes where we admittedly got confused by new regulations. Some of the regulations imposed on us can be very challenging and frustrating at times. Once you analyze them though, you recognize that any problems can be overcome.

I’ll admit that it is easy to overreact to a new regulation. But good business people always come up with good solutions to their problems. That’s what I strive to do when faced with new challenges.

What is one business idea that you’re willing to give away to our readers?

Start a cleaning or clean out clutter business. I think as more people accumulate more “stuff,” this business will be one of the top businesses to get into.

What is the best $100 you recently spent? What and why?

I spent the best $100 on a couple of Chromecast devices for my office. It’s a great business tool for presentations and for sharing ideas with my franchisees and employees.

What is one piece of software or a web service that helps you be productive? How do you use it?

QuickBooks Online is a wonderful product. It’s mission critical for us when it comes to bookkeeping, invoicing and keeping tabs on the financial aspects of our business.

We also use G Suite when it comes to some of our internal communications as an organization, which keeps everything in the same place and is just so much more efficient than other productivity, collaboration and email solutions we’ve used in the past.

What is the one book that you recommend our community should read and why?

“Traction” by Gino Wickman. I think it’s a good book that provides practical advice on managing both businesses and people.

What is your favorite quote?

“First they ignore you, then they laugh at you, then they fight you, then you win.”

This quote is typically attributed to Mahatma Gandhi. It’s interesting — this is a misrepresentation or mix up of his philosophy and a speech from early 20th Century American union leader Nicholas Klein.

No matter how this quote came to be, I love it!

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