how to thrive · 2020-04-07 · survive. (and then thrive) childcaresuccess.com. how to not just...

How To THRIVENot Just Survive the C-19 Crisis

Part II

childcaresuccess.com

Kris MurrayApril 7, 2020

Today’s Agenda


● Introduction & Gratitudes

● A 5-Step Roadmap to Survive & THRIVE● Strategies being used NOW by the most successful ECE business owners

● CASE STUDIES & EXAMPLES

● Summary, Key Insights & Action Steps

● Open Q&A

How to Not Just Survive, But THRIVE During This Crisis

Poll #1

childcaresuccess.com How to Not Just Survive, But THRIVE During This Crisis

Introduction & Gratitudes


Disclaimer: I am not an attorney, a loan officer, a legislator, a health official, or an accountant


How We Make a DifferenceOne School Owner at a Time

Our mission: Impact 1 million children Over 330 years of child care & business experience, combined, in our coaching faculty


Gratitudes: THANK YOU Academy MembersTHANK YOU to My Team


● Much of what I’m going to share here I’ve received from our Child Care Success Academy members in the trenches

● My team and our coaches have been working around the clock to bring you the best and latest information

Together, We Are Stronger. Together, We Can Survive. (and then Thrive)


● Let’s be real – some of you are facing the end of your business.

● In this webinar (and beyond), I’ll be giving you many strategies and ideas – but for some, it may not be enough.

● We’ve got your back, for as long and as hard as we can fight, WITH YOU.

Maszlow’s Hierarchy


Where we werepre-crisis

Where we are now

Maszlow’s Hierarchy


- Recognize where people are in your life

- Most of us are ricocheting back and forth from strong to

weak

- As a leader, it’s your job to help them climb the

pyramid

My Simple 5-Step Roadmap to THRIVE


1. Daily Positive Mindset PRACTICE2. Create Your MONEY MAP

3. Inspire Your A-TEAM

4. Deliver VALUE to Your Community

5. Look for Opportunities EVERYWHERE


Step 1: Daily Positive Mindset PRACTICE


Mindset: Find Your SILVER LINING


● Organized closets & a clean home

● Spending simple times outdoors

● Puzzles & game nights

● Baby boom in 9 months? Toddler boom in 24 months?

Our vulnerabilities are connecting us right now. But maybe we can choose to be connected by our STRENGTHS.


Mindset: Ideas for Facing April Head-On


● Great time for you to...

○ Finally get that book started / written

○ Get those photos into albums

○ Read that stack of books you’ve been meaning to

○ Dive into special projects for your preschool that have been back-burnered

○ Don’t forget your 2020 goals

○ Write it down: _________________________________


Find Inspiration in the LITTLE THINGS


● Acts of Kindness

● Practicing Gratitude

● Journaling

● Yoga – meditation – stretching

● Prayer

● Children’s hope and laughter

● Each other● We’ve got to BELIEVE this is going to pass (quickly)


Step 1: My Practice● Upon waking, I pray for 10 minutes● I work out for at least 20 minutes – vary the routine to avoid boredom● Just signed up for a new virtual Zoom workout (M-W-F, 60 minutes)● Watch a positive mindset video every morning● Read my favorite positive quotes each day● Find someone who needs their “bucket filled” and talk to them● Re-connect with old friends and family via Zoom● Cry when it feels overwhelming● Hug my kids a lot


Positive Daily VideoSign up for Minute with Maxwell at johnmaxwellteam.com


Positive Daily Quotes




1. Daily Positive Mindset PRACTICE

2. Create Your MONEY MAP3. Inspire Your A-TEAM




CASH Is the Oxygen Your Business Needs to Survive


2 Fundamental Keys to Cash Flow:

1. Maximize Revenue Sources

2. Minimize Expenses

List Out and Forecast All Possible Revenue Sources


List Out and Forecast All Expenses and Things You Can Defer or Eliminate


● Payroll● Rent/mortgage● Supplies● Food● Utilities● Vendor payments / insurance / van payments

Cash Flow Management


● IRS shifted out all tax payments - now due July 15

○ Many states are as well

● Apply for the Paycheck Protection Program in the CARES Act

● Apply for the EIDL or other SBA funding sources

● Apply for any State Funding programs & accurately forecast Subsidy $$

● New law updates coming every day


Poll #2


How to Find the PPP Info

● Go to home.treasury.gov

● Click the link at the very top of the page in RED

● Click on Info for Borrowers

● Click on Application

Child Care Success Academy

http://home.treasury.gov/

The Latest Guidance on PPP vs EIDL – Can You do Both?


● Borrowers can apply for both an SBA Economic Injury Disaster Loan and the Paycheck Protection Program loan. However, the Paycheck Protection Program loan funds and the Economic Injury Disaster Loan funds cannot be used for the same purpose. The Paycheck Protection Program loan must be used for payroll (minimum of 75% of the funds received) for it to be eligible for a forgivable loan and the remaining is used for different purposes. Borrowers who accept both loan funds should document the uses of the funds appropriately.

● You are still eligible to apply for the Paycheck Protection Program even if you applied for or received an SBA Economic Injury Disaster Loan.

● If your EIDL funds were not used for payroll costs, it does not affect your eligibility for a Paycheck Protection Program loan.

● If your EIDL funds WERE used for payroll costs, your Paycheck Protection Program loan must be used to refinance your Economic Injury Disaster Loan.

The Most Common Payroll Model Our Clients are Implementing: A Sample Survival Roadmap


1. Furlough (or lay off) all non-essential employees

2. Apply for the Paycheck Protection Program (PPP)

3. Work with lender to determine when funds will arrive

4. Determine whether you can/should attempt to get the “Forgiveness” component of the PPP (work with your accountant and attorney)

5. Bring employees back off furlough or layoffs the day the PPP funds arrive

6. Keep teachers busy doing projects on site, e-learning classes, social media, etc.

The Most Common Tuition Model Our Clients are Implementing: A Sample Survival Roadmap


1. Charge full tuition if still open and attending

2. Charge 50% tuition if not open or non-attending and EXPLAIN WHY- Allows you to remain open and provide them a spot when this is over- Allows you to keep essential care going, e-learning for families, etc.

3. Allow families in hardship to pay less – offset with families who can and want to help others

CASE STUDY: Kidada’s Process and Results


• 60% tuition to hold your spot if not attending.• 100% tuition if you will be attending as normal.

• I had a few parents who paid full price, but will not be attending. I had a few parents who could only pay a reduced hold fee because of job loss or cut in pay.

• I was able to take the money that parents had overpaid to cover what others couldn't pay. I let the parents know who overpaid that their tuition would go towards those who had job lay offs.

• Later today I will also share with all of our parents about how we have banded together as a community to make sure everyone is taken care of.

• I have not received all of the responses yet, but our of 110 enrolled we will have around 25 attending (number should go up, waiting on a few more responses).

CASE STUDY: Kidada’s Process and Results


If we have 30 students and the rest pay 60%, I should be able to keep this boat floating with cutting teachers pay 25-30% and letting unemployment kick in the difference (Shared work program here in Texas).

We also have enrolled 3 or 4 people. They don't start until May, but for the people who have withdrawn, I am doubtful their spots will be there when we ramp back up.

Hope this helps somebody. Trying to get prepared for Summer. I hope this will be over June 1, and then people will need summer care, etc.

Arm Yourself with Data and Confidence

● There are many variables: your state’s funding, state health rules, unemployment programs and loopholes, length of the crisis, amount of funds you can get from loans, amount of loan forgiveness, revenue projections, etc etc

● However...You are the CEO & Leader of your company● Consult as many local pro’s as you can

● Make the tough choices and SWIFTLY execute your plan

● Just having a plan in place and a clear spreadsheet for Cash Flow will help you sleep better and feel calmer





2. Create Your MONEY MAP

3. Inspire Your A-TEAM4. Deliver VALUE to Your Community



Ideas for Inspiring & Cultivating Your A-Team


1. Regular Wellness / Mindset Check Ins

2. Zoom meetings with honesty, vulnerability, fun, and idea sharing -> ASK for their help and use their ideas

3. Make a plan to take care of everyone to the best of your ability – let them know if they are in hardship, you will find a way – set up GoFundMe’s etc.

4. Use this opportunity to lay off your D-F players and replace them

5. Run hiring ads showing your fun culture and how your team is pulling together to give back during this time


Keep Teachers Busy & Rotate Paid Days Off (One day per week to avoid burnout)

● Online classes for existing families○ Circle time, song & dance, Zumba, yoga, cooking classes, kid-friendly recipes, etc.

● Offer e-Learning to NEW families -> new income stream

● Meal delivery / pick-up

● Toy bundle pick-up

● Classroom activities bundles

● Community give-back: extra first aid kits, etc.

● Cleaning / painting / organizing / curb appeal / improvements / gardening


“Pour Goodwill” Into Your CommunityCase Study: Elizabeth Rollins

Teachers Thanking the CommunityGet Your Staff into the Act!







4. Deliver VALUE to Your Community5. Look for Opportunities EVERYWHERE


“Pour Goodwill” Into Your Community


● Online classes for existing families○ Circle time, song & dance, Zumba, yoga, cooking classes, kid-friendly recipes, etc.

● Offer e-Learning to NEW families -> new income stream

● Meal delivery / pick-up

● Toy bundle pick-up

● Classroom activities bundles

● Community give-back: extra first aid kits, etc.

● What else? Share in the chat!


Advocate for Your Program & WHY You are Open

● People are lashing out at any business that remains open (not just us)

● Use verbiage from your state to support your rationale & educate the public

● We are the safest, highest quality, cleanest place for children to be○ We know how to sanitize & clean at the highest level

○ We have experience in spotting illness & we have policies to deal with it (pink eye, strep, etc)

○ We are HELPING people on the front lines! We are ESSENTIAL!


Excellent example of explaining the decisions

to your community and retaining families

● https://www.youtube.com/watch?v=LgMyCHIl0G4&feature=youtu.be

https://www.youtube.com/watch?v=LgMyCHIl0G4&feature=youtu.be

Use the key points in this Georgia news piece to EXPLAIN why you still need to charge


- Child cares run on low margins because they have high operating costs

- Child care has over 400 regulations they must manage for licensing

- Supporting them and paying at least some tuition will keep them alive

- If parents stop tuition completely, the school will be at risk of shutting its doors

- If preschools shut down, prices will raise due to scarcity when the crisis passes

Look for Opportunities Everywhere


● Online / remote classrooms for existing families

● Online / remote learning services for “new to you” families

● Expand your capability to take school-age children if state allows

● Let go / lay off D-Players and focus on building your core staff of A-Players

● In 60 days, the labor force will be more abundant, so you’ll have more top talent to choose from when hiring back

● Sock away cash or expand your lines of credit to take advantage of future deals (which WILL show up)


Look for Opportunities EverywhereThis is a pivotal moment in history...

● Never have so many parents been devouring the internet and social media

● THIS IS AN OPPORTUNITY FOR those smart enough to grab it!

● Capture parents’ mind-share● Demonstrate thought leadership, online content, and humor

● Thank people and spread the word about community give-back efforts

● BUILD YOUR LIST in your CRM or MailChimp, then leverage it over the next 6-12 months and beyond


Case Studies: E-Learning Classes (Digital)● 60 min of E-Learning 4 Days/Week for Preschool/Pre-k

○ Charging $40-50 per week or $200/month

● 30 min for toddlers for 3 days a week○ Charging $25-40 per week

● 10 -12 max kids for preschool. 6-8 max for toddlers. Same teacher doing multiple classes per day to maximize her time.

● Many clients generating $5-10K per month in extra revenue. ● Using Procare for existing families and Paypal / Google sign up forms

for New families


Use Email & Social Media to Serve and Communicate Value

● Parenting tips

● eLearning ideas

● Funny / heartwarming memes or videos

● Helpful – Heartwarming – Humorous

● Real-world stories of inspiration

● Focus on building your “list” so you can enroll quickly with fun offers when the timing is right


Don’t forget to laugh and spread smiles!


Free Resources from Me & My TeamGet It ALL at www.childcaresuccess.com


Last week’s Blog and PodcastGet It ALL at www.childcaresuccess.com


“Sharpen Your Saw” during this time with Our Learning Library

Available at Amazon


On special: $9.99

Amazon

Ron Clark The CCSC Faculty Kris Murray

Kris and Vernon Mason

Having a blast Leaders Getting Inspired

This Year’s Keynote Speakers

Meet Trent Shelton and Get READY for Your World to BE Rocked

https://www.youtube.com/watch?v=3kKnm-HuUqM

https://www.youtube.com/watch?v=3kKnm-HuUqM

What Attendees Are Saying

2020 Venue: Sheraton Phoenix Downtown – Newly Renovated

Join Us in Warm, Sunny Phoenix: October 15-18

Super Early Bird tickets are on sale now


Super Early Bird tickets are on sale nowfor just $597

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childcaresuccesssummit.com How to Not Just Survive, But THRIVE During This Crisis

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Summary: My Simple 5-Step Roadmap to THRIVE


1. Daily Positive Mindset PRACTICE2. Create Your MONEY MAP3. Inspire Your A-TEAM4. Deliver VALUE to Your Community5. Look for Opportunities EVERYWHERE


Summary: What We Learned


● Introduction & Gratitudes

● A 5-Step Roadmap to THRIVE● Strategies being used NOW by the most successful ECE business owners

● CASE STUDIES & EXAMPLES

● Summary, Key Insights & Action Steps

● Open Q&A


Insights & Takeaways


● We WILL Get through this...TOGETHER

● Be a Beacon of Hope and Optimism – LEAD through Crisis

● Pour Goodwill into your community

● Use this time to GET BETTER – what is that for you?

● Get Your 60-90 Day Staffing & Cash Flow Plan together

● Stay on top of funding and legislative changes - work with your state

● Grab your seat at the Child Care Success Summit for ONE Dollar


ACTION STEPS


What are your “top priority” action steps that you COMMIT to getting done to completion in the next 14-28 days?

1) ____________________________________________________________________________________________________________________

2) ____________________________________________________________________________________________________________________


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how to thrive · 2020-04-07 · survive. (and then thrive) childcaresuccess.com. how to not just...

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