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Surviving Tight Times
September 25, 2008
The quality of life is in proportion, always, to the capacity for delight. The capacity for delight is the gift of paying attention.
-May Sarton, 1912 – 1995
-May Sarton, 1912 – 1995
"Al Masini has observed that nothing raises the energy reservoir like success and nothing depletes it like failure. Working hard on a venture that is taking off is exhilarating, but slaving away on a venture mired in red ink is enervating.
"Worrying about money for weeks on end is mentally and socially taxing. After a while you eat, sleep, and drink cash flow. All you can think or talk about is whether you can meet the payroll on Friday. You end up being a not very fun person to be around. Having creditors insult you, swear at you, and threaten you gets to be a drag. Friendships turn sour as you fall behind on financial obligations. As Orson Welles remarked, 'When you're down and out, something always turns up — and it's usually the noses of your friends.'
"What often determines whether an organization survives a financial crisis is the tenacity of the persons at the top — their ability to endure all the strain and work effectively toward a solution.... Not only must the leaders of the center hang in there, but they also must maintain a positive public attitude. Although your inner self may be crying out for pity, you can't afford to cry on the shoulders of your customers or your staff. If parents get the message that your center is on the rocks, they will start looking for a more stable child care arrangement. Staff, likewise, may start abandoning a ship that they believe is sinking.
"This is not to say you should deceive parents and staff into thinking everything is rosy. If you don't say anything, rumors of all sorts will start flying as soon as the first signs of red ink appear. When you are about to experience an extended dry spell you should inform staff and parents in a businesslike manner that cash flow difficulties will call for some careful budgeting over the coming weeks. But assure them that the long-term projections are positive, so that any inconvenience will be temporary."
The new Exchange Insta-Poll asks teachers and directors to tell us what is stressful in their work lives. Cast your vote and then follow the results as your peers cast their votes.
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Comments (1)
Displaying 1 CommentLi\'l Tykes Daycare Center
Bellevue, PA, United States
I cannot tell you how true this article rings for me. When I took over my Center in 2001, it was a bleak situation with many unhappy employees. Enrollment was dropping, moral was down, and my husband and I became immerged in the quicksand as well. The center's cash flow was basically non-existent, and the director was tired of running a sinking ship. I laid awake nights on end for the first 3 years worring about bankrupcy for the center and my family personally. I ended up over $50,000 dollars in debt just to the IRS for back taxes that we couldn't pay because we were barely meeting payroll. Then, early in 2004 we hired a new director. She listened to what I wanted to achieve, and set about doing that. She helped me turn my center around, I paid off the IRS in 2 years (not 10 like I had planned out with the IRS), and we're finally profitable.
What I learned along the way was how to structure the business, and how important it is to have strict guidelines for both the staff and the parents because everyone wants to bend the rules (i.e., parents running large tabs, etc.). In childcare it's hard to be tough because it has to be about the children. However, I've learned that it cannot be about the children unless you have a solid base.
Patti
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