This week I want to inspire you to improve or makeover the way that you manage your money in your Business. In fact, I believe this, if you don’t manage your money effectively, you could soon be out of Business. Money is the lifeline of your business and when it is not effectively managed, you can have some major cash flow problems.
Furthermore, I want you to throw away this excuse: “I’m not good with money.” Excuses will only hinder your success and today I am going to give you 5 simple strategies to makeover your money management skills. Ready!…. Here we go!
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:
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……
The Child Care Business Owner Institute 
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