February 05, 2019
The Business of Business!
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Because it seems like there are about a million details, all of which are vital, immediate and important either to you, your staff or your customers.
Your “internal thought-cloud” (see graphic) is constantly churning with the overlapping, shifting and persistent priorities.
Want to cut through the clutter and
The major elements in the "business of business” system are described
ManageSmart: Your overall business model (every program) needs to be evaluated annually for validity, financial viability
MarketSmart: Gather your marketing team, and have a plan to design and track all of your Marketing Plan activities (for both customer acquisition and retention). This can be done with the right technologies that coordinate with all other major elements shown in the “nucleus” graphic. When your marketing messages are on point, it is easy to transmit them to your staff and customers.
PeopleSmart: Organized marketing generates enrollment, and that means staff to teach the students. The #1 challenge in all Child Activity Centers, globally, is the ability to effectively Source, Recruit, Assess and Retain Staff at all levels – especially at the instructional level.
To accomplish this, we must broaden the sources at the top of our hiring funnel, then use proven, specific instructional-success traits as we assess, check references, interview and take work samples.
The #2 challenge with your people is to create a customized Educational
TechSmart and OfficeSmart: Monitor all of your technologies and applications on a “technology grid or mind map” for maximum efficiency. It is essential that you are aware of ALL of the tech tools that you and your business use, and to understand how to deploy them intelligently so that your key staff can work as fast as they can think!
With respect to the office and Office Management Team, remember that they also need “success pathways” in the
FinanceSmart: Now that the first four (4) elements of “the system” are in place, your cash flow will improve significantly. Get your monthly, quarterly and annual financial reports into a condition where regular and meaningful information is gained each of these time periods. You may even want weekly reports in prime growth time periods. Set and maintain Financial KPI (Key Performance Indicators) targets with respect to Revenues, Expenses
Find and apply your specific industry’s Expense and Profit Ranges. This is available through your industry consulting experts and via the SmartEDGE Dashboards.
FacilitySmart: When your profitability is up, you can afford to outfit and maintain your Facility(s) and Equipment in peak condition. Have an online system that keeps all of the facility (interior and exterior) and equipment maintenance and repairs records. This technology already exists with www.RiskAssure.net.
RiskSmart: Now that you have the first six (6) elements in place, you must PROTECT your assets and the business that has been built up. Reduce the Operating Risk of your business – in every area! Your insurance coverages, EAP’s (Emergency Action Plans) and CMP’s (Crisis Management Plans), as well as your online recording of all accidents/incidents via an application like
InspireSmart: Congratulations! All of the major “business of business” elements are in place. So what’s next? Easy – now inspire your entire organization with business, leadership and personal development courses. Offering both professional and personal development to existing and prospective staff will elevate your efforts to recruit and retain the BEST people! Refer again to PeopleSmart, challenge #2.
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