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

How To Get Parents To Pay Tuition On-Time

02 07 17

Recently, I have been asked the following question by many Child Care Business Owners: How do I get parents to pay on-time?

This is a tricky question, because it takes many different strategies to get parents to pay on-time and today I want to share one strategy with you that I use every week to let parents know that I am serious about collecting payments on-time and that is by posting a Tuition Due sign!

Every Monday I display my Tuition Due sign on the sign-in table where parents can see it. Also in small print you will see the words: If you have already paid your tuition for this week, please disregard this notice.

Having a Tuition Due Notice displayed on your sign-in table is a great way to enforce your tuition policy and also a great way to remind parents that payment is due.

To create your sign, simply type your notice using a Microsoft word program (use a very large bold font) and be sure to print the notice on a piece of yellow or orange paper. Then insert the notice in a plastic sign holder stand and display on your sign-in table. (you will find sign holders at your local Office Supply store)

Handling Delinquent Families
In the event that a parent fails to pay you after leaving the program, you have a right to send that family to collection or even collect your fees in small claims court. However, be sure that your failure to pay terms are clearly defined in your childcare payment agree and that you verbally tell parents about your collections procedures upon enrolling their children.

I hope this tip has inspired you to get diligent about collecting payments on time and you can start by creating  a Tuition Due sign. On-time Payments= Consistent Cash Flow in Your Business.

For more Tuition Policy tips, subscribe to my Tuition Policy Makeover eCourse. Also, be sure to subscribe to my Business Owner Makeover Tips eNewsletter, click here

Happy Tuition Collecting…..

Category:

Business Management, Tuition

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Focus on Your Priorities

01 31 17

The Law of Priorities 

“A Leader is the one who climbs the tallest tree,
surveys the entire situation, and yells, “Wrong jungle!”
~Stephen Covey

The Pareto Principle 20/80 Rule

When you focus your attention on the activities that rank in the top 20 percent in the terms of importance, you will have an 80% return on your efforts. Examples of the 20/80 Rule:

  • Only give 20% of your employees 80% of your time
  • If your to-do list has 10 items, only 2 of the task will give you 80% of the results
  • Spend 80% of your training dollars on the top 20% For example:(Directors, Lead Teachers)
  • Pass on 80% of your less effective work to an assistant.

I think you get the point. Focus on those task that give you the greatest reward such as building enrollment and hiring great employees!

In fact, do more of the task that you love and delegate the task that are in your weak zone.

With Your Success in Mind,

Shiketa Morgan

 

Category:

Marketing

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