The #1 Online information Source for Child Care Business Owners

Archive for the ‘Budget’ Category

How To Reassure Staff During a Low Enrollment Season

 

Every year in August as my summer camp comes to an end, many of the school-age children leave the program to go back to school and this usually leaves 16-to-20 slots for me to fill. In fact, this year, I started marketing my program 6-weeks before the camp ended, so that  as the school-age kids were leaving the program….the preschoolers would be coming in.

Several days prior to writing this blog post, I was observing two of my staff members as they talked about how many of the kids had already left the program due to the summer camp ending. One of the teachers looked really concerned. So, I walked over and said to her, “You seem to be worried about the enrollment?” She (sadly) replied, “Yes I am.”

I kindly reminded her that this season is not going to last long and that we will have new students coming soon. Also, I encouraged her  not to worry about her hours being cut or losing her job. After I spoke with her, she smiled and appeared as if two buildings were lifted off her shoulders.

Moreover, since my talk with the teacher who was concerned about low enrollment, I have enrolled six new students and this was the response that I received from that concerned staff member, Wow! You said more children would be coming!

I only have a few more enrollment slots to fill, however, I am so thankful that I did not have to lay off staff due to a sudden shift in enrollment after the summer camp ended. Furthermore, after my brief talk with that teacher, I also realized the importance of having open and supportive communication with your staff during tough seasons.

Furthermore, be careful of  the words that you speak over your childcare business as you build enrollment. Your words are so powerful. So, be sure to stay in a mode of expectation.

I shared my story with you to encourage you to reassure your staff when there is a change in enrollment, especially during low enrollment seasons.

Here’s something to think about: you depend on the money from your business to pay your bills and your staff depends on you to provide them with a  job to pay their bills, so in the event that you foresee or anticipate a shift in enrollment, they should be informed. This will help to minimize unnecessary anxiety or gossip.

Also, be sure that you are not worried and always have confidence that more kids are coming. As you walk in confidence during a Low Enrollment season, you can be assured that your staff will catch that same attitude!

With Enrollment in Mind!

Shiketa

Mastering Your Money in Your Child Care Business

I was inspired to write this blog post after processing my monthly payroll and paying the bills in my childcare business. As I wrote checks to pay my business bills, I realized the importance of cash flow. In fact, when you have cash in your business, you are able to buy the things that your business needs and pay your business debts.

Several weeks prior to paying my bills, I realized that I did not finish processing my food program claim, because I was so focused on getting my center re-accredited.

When I realized that I had not finished processing my food program claim, it was too late to receive my payment in the month of February.  Unfortunately, I discovered that my payment was going to be late and this was going to cause a delay in my accounts payable.

Several weeks later,  I received that my food program payment and I was so glad that I had funds to pay bills. Furthermore, I realized that when there is a cash flow problem, this will cause you to be late paying your bills and it also prevents you from buying what you need for your business.

To assure that you have a constant cash flow in your childcare business I want to suggest the following to you:

  1. Create a monthly budget for your business
  2. Only buy what you need for your business
  3. Never stop marketing your business
  4. When you are not able to pay your bills, make payment arrangements with your creditors to protect your credit.
  5. Be diligent about collecting payments from parents. I suggest collecting payments 2-4 weeks in advance.
  6. Process Subsidized Childcare Payments & Food program claims by the due dates
  7. Always be on the look out for business grants
  8. When parents do not pay on time, charge a late fee.

This is just a small list of ways to master your money, because after all…your money is the lifeline of your business. Moreover, when there is no money; there is no Cash flow!

Do you want to become a master of your money? Are you ready to improve your business management skills? Join the Child Care Center Owner eClub. Join Today!

Are you a home daycare provider? Feel free to check out the Family Home Child Care Business Empowerment Club, where you will be empowered and inspired to manage your money and build a quality in-home preschool.

With Your Business in Mind,

Shiketa

Be sure to check out the video below and I look forward to your feedback about this post……

Tag Cloud

Follow

Get every new post delivered to your Inbox.

Join 5,265 other followers

%d bloggers like this: