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

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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……

Category:

Accounting, Budget, Business Management, Child Care Center, Home Daycare

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Getting Your ChildCare Business Organized For a Great Year!

Throughout the month of January 2012, I have been preparing my center for Annual licencing Visits and it is time for us to renew Accreditation. I know it may sound like a lot of work, however, I have decided that my staff and I must get organized in order to accomplish successful licensing visits and to become re-accredited.

My first inspection of the year was a fire inspection and all went well. Our second inspection was a Sanitation and Food Service Inspection. I was so excited that the health departed rated my food service department with an “A.” When I looked at the report, I thought about all the organization that it took to assure that we passed the inspection the first time.

My next visit is my license specialist visit in February 2012 and a Missouri Accreditation observation visit in March 2012. With all of these upcoming inspections, I have found my self being more focused and organized like never before and I want to share with you some tips on how to get more organized for a Great year!

  1. Always be prepared for license visits. Take a look at your last inspection and strive to meet all the requirements to prevent re-visits.
  2. If you have employees, train them on the Licensing inspection forms and challenge them to help you to assure that your program is in compliance with your state childcare regulations. Be sure to discuss areas of improvement in the form of a weekly meeting.
  3. Create health/safety checklist to assure that you meet licensing/accreditation guidelines.
  4. Get parents feedback! Your parents will be glad to help you to create a great program. Create and issue a parent survey as soon as possible. It is vital that you know how parents feel about your program. Be sure to upload the feedback to your website or social media pages. Feel free to sample my program survey.
  5. Read a new business book or an entrepreneur magazine every month, to keep your creative juices going.
  6. When everyone leaves for the day, walk your business and look for disorder and get it organized. An organized environment looks good to the eye and kids learn best in an organized environment.
  7. Make a decision that this is going to be a great year for your business.  In fact, you have the power to create a great childcare business with much organization and focus.

This year ,my goal is to get my business more organized, keep my office organized, finish incorporating the Reggio Emilia look, update my foyer area, update the playground, make more money than I’ve ever made in previous years and I’m looking forward to trading in my minivan for my heart’s desire.

I hope you have been inspired to organize your business for success and make this a great year in business. What are your goals for your childcare business? Feel free to share…

Shiketa

Ready to expand? Tired of dealing with staff issues? Need to think on another level? Join us in the 21-Day Mastermind e-Club!

Category:

Accreditation, Administration, Business Management, How To, Licensing, Organization

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