Are you happy with the results that you’re experiencing financially in your childcare business? Have you questioned yourself as to why you can’t get ahead and keep an acceptable amount of money in your personal account, but instead it’s constantly going out? Are you unhappy with the fact that you’ve been working for years and years in your business and you still haven’t generated the amount of money that you deserve? If you can answer yes to any of these questions, then today’s blog post lesson is going to really help you understand what’s preventing you from making profits in your business.
For today’s business lesson, I want to talk to you about how grouping and ratios can prevent you from creating profits in your business. I remember when I first started hosting the Andrea Ignites Childcare Tours, and I would listen to what many of you were saying about your business profits. I realized then that there was a problem happening in our childcare industry, and it was happening all over the world. It was happening too frequently for me not to deal with the matter.
One of the things I noticed was that your challenges for profits happens when you don’t know the theory behind grouping your childcare programs for your profits. For example, consider your current location or your hopeful business location, was it a project that required the work of rehabbing? Rehabbing anything that could be licensed to care for children is the easiest way but if you don’t truly understand if this location could generate profits you’ll find yourself losing money because you must setup your business up for success. Your decision to purchase the location has to determined based on grouping our childcare business for success, which can cause you to experience less profits.
I learned this lesson a while ago from my very first mentor, who passed away years ago, she mentored me best from her personal business decisions. She would tell me, “Andrea, I’ve had five childcare programs operating at one time. It seemed like, in my mind, I had it going on, but in my bank account, I was wondering where the money was.”
She said, honestly, that she made more money just with two locations than she did with five. I began to question her and ask her why. She said, “Never put all of your money into one area. Diversify your income,” and that taught me a lot. That taught me that having multiple childcare locations has to be profitable and not based on your ego. As a coach, I want to say, “Oh, I have ten childcare programs,” so I can prove to everyone that I’m this great person, and that I have what it takes to coach america towards success, but that doesn’t make any sense if it’s not profitable.
I’ve had clients come to me and they say, “Well, we’re struggling in this area of profits,” and I’d say, “Well, how many programs do you have?” They’ll tell me they have all of these programs, and my response would be, “I see, that’s the problem.” You should never have three childcare programs, and they only equal the amount of truly only having one large childcare program of 150 children.
If you are not having the financial breakthrough that you should have in your business, it’s because you aren’t following what makes money in this industry. While I am out on tour, I am headed to my final stop, Chicago, October 15, 2016 and I am going to be dealing with Generating Profits!
During this time I will give you the keys to making money in this industry. There are keys to making money in this industry, and those keys are going to help you discover whether or not you have been preventing your profits based on your grouping and your ratios. It makes no sense to have this elaborate business that everyone is so proud of you for, then when you go home, you’re absolutely not satisfied at all. Are you running the business for profits, or are you running the business for people? That is the question.
This is my lesson for you for this Work It Wednesday. This lesson is to help you shake yourself and say, “Hey, what about my grouping and my ratios is preventing me from making profits?” While I am out on tour, I’ll give you the formula that every childcare business must follow in order to see success, in order to have a business that brings in profits. I’ve made up my mind that I’m never going to buy a location or invest in a childcare program to impress anybody, not even myself! If it doesn’t impress my bank account, then it’s not generating profits.
Think again about your next move, your next level. Think about what you are doing in your business that you need to change. I’ll give you the keys to making money in your business by providing you with a discount on the 30 Days to Profits kit. According to when you’re reading this lesson, that’s when you’re going to find your discount. You can save over $1,000 by clicking this link here to get your 30 Days to Profits program and a FREE ticket to the Chicago tour stop!