Inspirational and Empowering Child Care Business Owners To Build Successful Child Care Businesses

Archive for the ‘Budget’ Category

How to Keep Track of SBA Funds

calculator placed over stack of usa dollars

Photo by Karolina Grabowska on Pexels.com

Have you applied for the payroll protection plan or any SBA Funds for your Child Care Business during this pandemic?

Covid 19 hit the childcare industry and many other industries hard and having financial assistance from the SBA and other agencies is how many businesses are surviving right now. However, it is still vital that you maintain your record keeping in the event of an audit.

Today I want to share some strategies with you that will help you to maintain your current budget plus the additional funds that you receive from the Small business assosciation or Federal PPP funds.

 

 

  1. When you receive SBA funds, keep those funds seperate from other business funds. It may even be helpful to you to start another bank account.
  2. Keep track of how you spend the funds by using a log. (SBA Working Capital form
  3. Only use the funds on monthly operating expenses such as: rent, payroll, food, supplies, utilities, etc.
  4. Using SBA funds frees up your monthly workin capital and allows you to stay afloat during this pandemic.
  5. Finally be sure to keep all receipts.

With your Business Success in mind,

Shiketa

If you need coaching, I am just a phone call away! sign-up today.

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

Im just a phone call away! Schedule a business coaching session with me if you need my assistance. click here

Get the Marketing 101 toolkit today!

Tag Cloud

%d bloggers like this: