How to review your goals to ensure that you are keeping the right key performance indicators to take your business to the next level.
Today I want to talk to you about making sure that you have the right key performance indicators in your business.
#1 Review is your enrollment performance.
Because you want to be able to know what is impacting your enrollment.
Key Performance Indicator is going to assist you in knowing what is working and what is not working in your business. So it’s so important that you review those areas.
Next, I want you to make sure that you’re using something like an enrollment tracker so that you can track new registrations or new business opportunities. Whenever you have someone who’s newly enrolling in your program, that information is critical to track. So that you’re clear about who’s doing business with you and how they’re finding out about you.
#2 Review Your Marketing.
If you have a marketing budget, then this is critical. Because this information details to you what part of your marketing you can increase the budget for, that will cause you to have more results, or what part of your marketing you need to upgrade, evaluate or change for the new year.
Also keeping track of your conversions is critical. Do you have a website where people are putting their data in to know, like, and trust you, to enroll their children in your program or to do any type of business with you? If you have that type of website, but no one’s entering that data. There’s something going on with your conversion and that’s the content that you can begin to investigate in order to improve.
#3 Track your Recruiting expectations.
I know that many of you own and operate family childcare, single childcare, and multiple childcare centers, and everyone has different expectations for recruiting.
So what your expectation should be across the board is that you’re monitoring how many new hires you’re bringing on into your company, how many of those new hires are making it through the orientation process? And how many of those new hires are going through the onboarding process?
This is going to help you recognize where your systems need to be improved in your organization. And then once you get the basics, you move on to the next level, which is how many people maintain employment with me for six months. How many people maintain appointments with me to become a leader in my organization?
So now you’re tracking your retention efforts.
This is critical because if something happens within six months of a person being in your program, that tells me that you have to work on your long-term vision of keeping people on board with you. So then you move on to other areas that are optional, like if you’re running Facebook ads if you are utilizing any money trackers such as your budgets, your aging reports, profit loss statements, and then also if you keep track of money that has to be collected in your organization.
But this is what we use in the School of Systems to ensure that we’re able to stay on top of what’s working in our company, and then we can assess what we need to change.
If this sounds like something you’re interested in, then be sure to become a part of our all-new learning systems webinar. You can go to www.LearnNewSystems.com and sign up for our webinar, where I’m going to give you opportunities to learn the backdrop to capturing information like this.
Until next time, remember, if you manage the childcare business that you love, you will love the childcare business that you manage.