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Surviving Tight Times - What to Do When the Money Runs Out

by Roger Neugebauer
January/February 2002
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Article Link: http://www.childcareexchange.com/article/surviving-tight-times-what-to-do-when-the-money-runs-out/5014310/

"Daddy said tight times is why we all eat Mr. Bulk instead of cereals in little boxes."

In the children's book Tight Times Barbara Shook Hazen portrays a little boy learning what financial crises are all about. Anyone who works in a child care center probably needs no such introduction. As in nearly all small businesses, financial ups and downs are a seemingly inevitable part of the organizational life cycle. Leading one's center through tight times is an unwritten yet central aspect of all center owners' and directors' job descriptions.

However, if your center is now facing a financial crisis, you know that it will take more than serving Mr. Bulk instead of cereals in little boxes to pull through. It will require an array of aggressive actions as well as a large measure of tenacity. The following are some of the strategies recommended by small business experts to help for profit and non profit centers survive tight times.

Find Out What's Wrong

Neighborhood Child Care Center was broke. Director Jones, assuring everyone that this was just a temporary shortfall, whipped up enthusiasm for a major fundraising effort to pay off all the center's debts. Much to everyone's surprise, three months later Director Jones ...

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