Lunch and Learn: The Groundhog Day Economic Outlook
In the first Lunch and Learn mini-episode, Kris dives into some noteworthy and newsworthy economic outlook announcements in our world, and how they can affect the childcare industry. She covers the top three things (plus a bonus) that you must have to survive a more full-bodied recession. Before you get stuck living the same day over and over like Bill Murray in Groundhog Day, pay attention to these three things!
Key Takeaways:
[4:55] Kris talks about the tech layoffs at companies like Google, Microsoft, Amazon, Meta, and Wayfair.
[5:27] Tech is the leading force that signals to any savvy business owner what could be coming up.
[7:16] Knowledge is power, and knowing that you may start finding it more challenging to stay fully enrolled is important information.
[8:24] When people start getting laid off, the first things to go are childcare and daycare.
Top Three Things + A Bonus to Know During this Time:
- You must have lead flow and lead data. You must be building your database of leads and know who those parents are, and as much data as you can gather.
- You need skilled people at enrollment. You need people that understand how to build rapport and trust and how to be friendly, knowledgeable, and trustworthy.
- You need a CRM system. Two are ChildCareCRM and IntelliKid System.
- Bonus: You need retention strategies. It actually costs you a lot more time and money to go out and get new families than it does to retain the ones you’ve got.
Quotes:
- “Tech is the leading force that signals to any savvy business owner what could be coming up.” — Kris [5:27]
- “You need people that understand how to build rapport and trust and how to be friendly, knowledgeable, and trustworthy.” — Kris [10:07]
- “It actually costs you a lot more time and money to go out and get new families than it does to retain the ones you’ve got.” — Kris [12:08]
Sponsored By:
ChildCare Education Institute (CCEI)
Use code CCSC5 to claim a free course!
Mentioned in This Episode:
The Child Care Success Company
The Child Care Success Academy
Childcare Education Institute: use code CDARenewal22 to get $100 off your renewal
