During last decade – and beyond – I’ve heard countless money myths being waved around as reasons for hesitation when it comes to taking a step into owning your own childcare business. And while some of the rumors might be a hangover from days gone by, most of them are just factually incorrect and are certainly nothing I’ve ever witnessed.
There’s only so much time to write these blogs and you’ve not got all day to read them, have you?! So in this post, I’m busting three of the myths that keep popping up in Childcare Ninja conversations. Read on if you’d like to find out why you need to ignore the money myths and listen to your heart!
Money Myth 1: Expensive to get going
Not true! There are tonnes of ways you can start your childcare business on a budget. I’ve written a few blogs on this, but it is possible to start a wildly successful childcare business with limited financial backing. I know because I’ve done it! Cut back on expenses – do you need those subscriptions or the organic food? Could you strip it back to the bare minimum temporarily until your profits start coming in?
Look into ways of getting more knowledgeable that don’t involve spending money or spreading the cost between yourself and other childcare facilities. Sign up to mailing lists and free trainings and teachings around legislation and regulations.
Setting up your childcare business doesn’t have to be expensive. You don’t need an all-singing, all-dancing childcare business to get going. I think the phrase is “done is better than perfect”. Don’t let fear of getting started put you off.
Money Myth 2: Childcare owners can’t make a profit
This one always makes me laugh, because my business is testament to the fact that you most certainly can make a profit! Don’t be intimidated by the money talk around childcare. A lot of the chatter is around the issue that our industry is not valued by many in our society, despite us being a lifeline to families. The recent pandemic highlighted how essential we are (which we all knew!). But the debate as to whether we’re profitable is nonsense.
You can have a successful childcare business that brings in a profit. It takes hard work, effort and planning, but it is definitely achievable. I’m working with a number of childcare business owners – my Childcare Ninjas! – helping them scale up and grow their businesses to become even more profitable.
Money Myth 3: Hard to keep up
Funnily enough, this money myth is a teensy bit true. Yes, it’s sometimes hard to keep up with changing policies and legislation. I could probably dedicate an entire year to reading documents and keeping up with current practice. And of course all the regulations are essential so we have to keep on top of it all.
However, when you’re savvy and have a great team around you, you can split the training sessions between you and share the knowledge when you get back. You can sign up to emails that will keep you up to date, and you can join networks with other childcare businesses. There’s also a great Facebook group I’ve heard about, for Childcare Ninjas like you 😉
Tips for battling the money myths
Over the years I’ve been running my own childcare business, I’ve discovered some ways that you can combat the money myths out there! Here are a few tips to help you on your childcare business journey.
Firstly, surround yourself with encouragers and people who support your dreams. It’s so much easier when you’ve got like-minded people giving you motivation and rallying around you. It’s also important that you can trust them and know that they have faith in your abilities. There’s nothing worse than constantly having to second guess yourself because of negative comments about things that you didn’t ask for an opinion on.
Be wise with your money
Second, y’all know I love systematizing, so you won’t be surprised to hear me say this! So here goes: Get yourself some systems that help you manage your business better. This will save you time and money to invest elsewhere in your childcare business. When you’re more organized and things are streamlined, you can budget better.
Next, I’d like to encourage you to invest in yourself. With the savings you make on time and with budgeting better via systems, you should put that towards bettering yourself. Learning never goes out of fashion! And educating yourself and self development is never a waste of money. Whether that’s additional childcare training or a business diploma, the decision to prioritize YOU as a business owner is pivotal to your success!
My last tip is that you get help with finance. I’m not talking about loans and borrowing money (although if you’re going to do that, make sure it’s ethical and in your best interests! Steer clear of sharks). No, I mean getting your head straight when it comes to finance. Take time to get some money mindset coaching, and another idea is to learn how to do your own accounts.
I hope you’ve found this blog super helpful. If you have, share it with a friend!
Also, if you appreciated the tips in this post, there are plenty more over ideas and inspiration over in the Childcare Ninja Facebook group! We’re an army of childcare professionals who are sharing ninja-sharp skills to transform our businesses into childcare empires! This is Childcare Ownership all Grownup! Interested in becoming a part of the community? Join us for more tips on how to make your childcare business the success it deserves to be! And don’t forget to follow us on Instagram!
Y’all know I’ve been in this game for a while now, and I have seen new childcare businesses come. And I have seen them go. Why don’t they last? We all make mistakes, but most of them can be avoided with some forward thinking!
There’s several monumental mistakes that they are making in their businesses. Don’t panic! These are easily avoided. Therefore I thought I would share the errors they make with you, so you can avoid doing the same before it’s too late.
Mistake #1 – Trying to do everything for everyone
An absolute classic. And one that sometimes takes a lifetime to learn! It is very hard to stay focused and in your lane. But you’ve gotta do it or you’ll not survive in this crazy world of childcare ownership.
So how do you avoid it?
You need to know who your clientele are. And you need to learn how to reach them. Think local; you’re not trying to gain worldwide customers. Your daycare is about serving the community it’s in. So target them appropriately and be who they need you to be. Not who everyone else thinks you ought to be.
Work on having firm boundaries with work. Learn to say no. You’re not a super hero. Saying no to things that don’t serve you is fundamental if you want to keep your head above water. No calls after a certain time, reply to emails on particular days, prioritize properly.
Use technology to help you get organized; set timers on tasks to stop your mind wandering and to keep you laser focused. Ninja focused!
Mistake #2 – Not planning!
I’m gonna repeat this until the cows come home: Plan! Plan! Plan!
Sure as the sky is blue, I’ve seen childcare owners who think they can “wing it” very quickly finding themselves in difficulties. To run a successful business you’ve got to plan, and plan, and then plan some more!
It is a time consuming process to get systems in place and plan ahead, but it will save you so much heartbreak. I promise you that planning in your childcare business is how you will grow and create the perfect little empire you always dreamed of. I know because I’m doing it. And it’s all because I plan EVERYTHING. I’ve got lists for my lists.
Mistake #3 – Underestimating efforts
Another classic mistake. It’s not uncommon for new childcare business owners to underestimate the amount of time and work they’ll need to put in. They think that it’s the same as any other business. Well we Ninjas all know that it certainly is not.
That’s why I created this platform in the first place: to support childcare owners like you. Because there’s not much else out there that is specifically for us. And we are niche. We’re unique.
Interestingly, I’ve had so many conversations with people who assume that I just own the day care centers and am not involved in the day-to-day running of them. I have to explain every darned time that you can’t just “own” a childcare biz. You ARE the childcare biz!
Your personality and philosophy of learning are totally embedded in the childcare you run and your staff are amazing, but it’s your empire. You might have a manager in each setting, but you are the one who oversees the provision and has a vision for the future and how you’re going to get there.
Running a childcare business is a helluva lot of work and no one should go into this thinking you can just kick back and let others do the work for you. It’s not an opportunity to sit on your laurels! This is a way of life! And one that I love, and I know you do too!
Don’t hesitate to drop me a message if you’re worrying about anything to do with running your business. After years of feeling isolated, I’ve created this community and I’m here to help you work through any issues. Get in touch!
I hope you’re enjoying your journey to becoming a Childcare Ninja, but don’t forget to interact in the Facebook group where you can connect with other amazing women and share ideas.
Join us in the membership too for more tips on how to take your childcare business to the next level!
Big childcare centers have many resources at their disposal to be able to provide a professional look and feel. You just have to walk into one and you feel small. However, just because you’re small right now, it doesn’t mean you need to operate within that mindset. It’s time to play big!
I’ve learned that thinking big and changing my mindset is at the heart of success, so I’m sharing these here with you. Here’s a few tips to make your childcare business look and run well-groomed.
Put on a big mindset
Stop thinking small and start thinking B. I. G! Making a shift in the way you think is going to help you grow your business. By changing up the way you approach things – even just a little – you’ll feel more confident and be more productive and successful.
Last year I decided to make a change – to stop playing small. I wanted my childcare business to grow and to feel less stressed. I thought long and hard about how I could go about making a change. Reading some inspiring books, watching some motivational speakers and doing some online training was a good start.
In order to get things going, I created a vision board for the future so I can focus on where I wanted to go and I came up with a new mantra for success. My mantra was “Think bigger”. Every time I caught myself playing small, I told myself: Think bigger. Play big. It worked.
What will your mantra be? Have you tried creating a vision board for your childcare business? Read more about how important mindset is to your business here.
You don’t have to spend big to plan big! You can do this on a budget, trust me. For every paid idea, app, or software you need to buy to help you run your business, there is usually a free or low cost alternative. Do your research and make sure you find the best deals before throwing your hard-earned money away.
Use your vision board! Get those bigger plans on it. If you want to expand your services, how? Want to employ a bigger, better team? Want to rebrand and refocus? We are Childcare Ninjas! We were born to do this. Plan it out and create the successful business you have been working so hard for. C’mon! Let’s play big!
It’s all about building genuine relationships. I cannot stress this one enough, fellow ninjas! You’ve got to nurture the relationships with everyone that you meet. Starting with your family – make time for them so they don’t think that your business comes first. Carve time out each week for slowing down and reconnecting with your loved ones.
Then look at your relationships with your team members. How can you strengthen your communication and build on what’s already there? Could you increase the time your door is open for them to come and share problems? Maybe set up an app like Slack that allows your team to converse outside of work and gives you all an opportunity to socialize but also connect professionally. Sometimes we send each other silly memes to break tensions or brighten each others’ days, but we also help each other out with situations and it just means we’re all on the same page.
And, of course, you need to be cultivating the relationships you have with the families that are using your childcare but also the potential future customers too. You can do this in a number of ways, but the key to this is communication (again!). Sending out regular updates, sharing the wonderful things you and your team are doing, asking for continual feedback through questionnaires and quizzes…
Being an approachable and friendly face, and showing empathy is essential in all the relationships you need to foster to build a successful childcare business. People buy from people!
I hope these tips are helpful and you can see the huge impact small changes can make in your business. We can indeed play big with the big dogs!
If you’d like to know more, I’ve filmed some videos and resources that’ll help you in my Childcare Ninja Dojo Club. Joining will make your life a little easier, and enable you to grow your childcare business into your own little empire.
Before you go, have you found the Childcare Ninja Facebook group yet? We are an army of childcare professionals who are sharing ninja-sharp skills to transform our businesses into childcare empires! This is Childcare Ownership all Grownup! Interested in becoming a part of the community? Join us for more tips on how to make your childcare business the success it deserves to be!
Are you a childcare provider with the ambition and drive to go far? You’ve got the love for the kids and you’re brimming with ideas, right?
I’d bet that at this very moment, though, your childcare business isn’t as profitable as it could be and it’s draining your passion and wearing you out.
I get it. I really do. I’ve been there! When I first set out in my business, I was a single mom to four beautiful children. Running a childcare business from my home was the chance I grasped to bring in the money we needed AND ensure I could be there for my family simultaneously. Over time I was able to grow my business and start reaching for bigger goals.
However, after a while I went from excited to exhausted. My childcare business needed constant attention and I hadn’t been able to take a vacation for years. But that all changed when I started creating systems that allowed me to enjoy running my business again.
So here I am with my top three tips to kick-start your journey to becoming a Childcare Ninja, and show you how you can grow your business to 6 figures or more!
1. Take stock of your childcare business
It’s not often we take a step back from our businesses and have a look at what’s working, what’s not, and where we can make tweaks to improve things. Make some time to reflect and assess where you’ve come from and where you want to go. What will that journey look like?
Then it’s time to get organized. Make a plan or a road map of how you’re going to reach your goals. List everything that you do day-to-day to keep your business going. Get systems in place that’ll save you time and energy, giving you the freedom to focus on the things that you love! And maybe you’ll even be able to take a vacation one day!
2. Childcare Ninja Mindset
As business owners, it can be very easy to get caught up in the day-to-day running of our childcare facilities – calls to potential clients, checking the menus, managing our teams… but we neglect ourselves and forget that we can’t pour from an empty cup. And as women we’ve got a habit of having negative mindsets around several issues. And we’ve got to do the work to change this!
Promoting yourself to others in your business sometimes feels cringe-worthy and awkward. But there’s absolutely nothing wrong with being successful. So we need to accept that recognizing our achievements is a good thing! Change that negative mindset! Stop putting yourself down (both in your head and in front of others!).
Find out more about mindsets in this blog!
3. Create the system
By getting systems in place, you are getting processes in place that will help you get organized and help your staff become more independent. Once you’ve nailed the systems, you will be able to take time off and not worry about things falling apart while you’re not there. You’ll de-stress, your staff will feel more in control and confident and your business will grow!
Break down all the steps and processes that you have in place, adding in the things you’d like to improve. Now you’ve got a plan and a sort of flow chart to guide you through each area of your business. If you need a guide to help you with this process, download your free childcare business map here and get started building your systems.
Now you’ve got the systems all laid out, it’s time to call a staff meeting and get everyone on the same page!
Bonus tip – Become a Founding Member of my Childcare Ninja Membership
We are a growing army of childcare professionals who are sharing ninja-sharp skills to transform our businesses into childcare empires! This is Childcare Ownership all Grownup! You’ll be able to access the videos and amazing resources I’ve created especially for you in my Childcare Ninja membership. Being a member will make your life a little easier and enable you to grow your childcare business into your own little empire!
For founding members who join us, the program costs just $35/month (the price goes up soon to $49/month). The content you’ll have at your fingertips is unique to childcare businesses, because I was tired of joining groups for advice, but finding it irrelevant to my needs. So here we are! A one-stop shop for Childcare Ninjas!
Interested in becoming a part of the community? Join us for more tips on how to make your childcare business the success it deserves to be!
Have you taken my Childcare Ninja quiz yet? And don’t forget that I also have a free Facebook community for childcare providers. Check it out here.