The main purpose of establishing a business is to make profits . School business is lucrative and profitable if run the way a normal business should be run . The following tips can be incorporated into your business to ensure profitability
1. Put in place an effective corporate culture .A culture less school , is an organization without future because it can rupture anytime . Lack of organization culture is just like a small fox that spoils the vine .
2. Build a financial tree for yourself and the school . Diversify into other school complimentary businesses and others . Many schools are Nigeria are struggling today because of too much financial burdens on the schools. No reinvestment .The money that should have been used for reinvestment has been used for the stomach infrastructures .😂 ! A potential school begins to dwindle profitably if it’s overloaded financially . Therefore , diversification is the business wisdom of the 21st century .
3. Be financially disciplined . Delay your gratifications . The school management should plan a budget far before the money comes and sticks to it .
4. What is your school known for ? I keep saying this anytime am privileged to say it , ” a me too school ” in this 21st century cannot go far ! It won’t make much profits . Your unique value proposition determines the level of profitability you enjoy .
5. As a Proprietor , separate yourself from the guys and the girls of your organization .How can you be amorously frolicking with the guys and the girls of your school and expect to grow and make profit ? A man Proprietor dating the female Parents of the school should know that an end has become to the payment of school fees and other dues from such a Parent and in no time , her friends who she tells ,who join her .
6. Be in charge fully . The level of profitability you enjoy in school business depends on the kind of leadership you provide . Block unnecessary Interference of your staff with the Parents .A staff who you allow to do extra lesson in a Parent’s house will latter use that Parent as a pioneer Parent of his or her school if care is not taken . A school lost half of the Parents to the Head teacher who pioneered her own school simply because she was the one running and managing the WhatsApp and other social media platforms of the school . It is not a sin if you are in charge , infacf , it is a professional foolishness if you abdicate your leadership roles to termites ,caterpillars and usurpers .
7. To run a profitable school business , the art of good communication is one that everyone in the school system must master and the school Proprietor or CEO must take the lead .
8 . Academics matters . A school with poor , unsupervised and unevaluated academics programs cannot make much profit because the members of the public begin to ignore such schools . One of the strategies to ensure academic improvement in any school is constant academic evaluation and analysis . A child that fails a particular academic exercise without correction on the part of the Teacher will repeat the same mistake .
9. I carried out a painstaking research and I discovered that financially thriving companies are philanthropic conscious. Every business organization needs the hand of the Infinite Intelligence for growth ,success and progress . You can’t make much profits in school business by running me and my family business alone . Be socially responsible
10. Create better bundles . When bundling is built in business , a lot of profits are made
Your school will grow exponentially . This is my passion for you .