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The Iron Triangle of ECE Finance
September 13, 2019
Any time you sincerely want to make a change, the first thing you must do is to raise your standards.
-Anthony Robbins
-Anthony Robbins
In the book, Art of Leadership: Managing Money, Louise Stoney and Libbie Poppick describe what they call the 'iron triangle of ece finance':
- “Full enrollment
- Full fee collection, and
- Revenues cover per-child cost.”
They go on to say: “Indeed full-fee collection and revenue that covers per-child cost form the base of that triangle….All too often an early childhood program will have a budget that balances on paper, but the cash just doesn’t come in the door. Successful ECE administrators stay on top of collections; they have clear payment polices, are firm and consistent with families, thorough and prompt with billing, and on top of the paperwork required by third-party funders.”
Managing Money in Early Childhood Organizations to get 10% off Managing Money |
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Offer valid through July 20, 2022, at 11:59 pm Pacific Time. |
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ExchangeEveryDay is the official electronic newsletter for Exchange Press. It is delivered five days a week containing news stories, success stories, solutions, trend reports, and much more.
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