Defining Your Taarget Market and Competition 

You can't effectively market your family child care program if you don't know who you are selling to or who your competition is.

Click the link below to access a short video that walks you through the process of defining your target market and competition to craft a strategic, effective marketing message.
 

The new year is an excellent time to look back over the last year and to reflect on your successes, unfinished projects, obstacles that got in your way, opportunities you took advantage of, and those you let pass you by.

It's a good time to sit down and take stock of your business by doing a self-assessment. Is your business where you want it to be? Are there any changes or improvements you would like to make? What are your goals for the coming year? You have to know where you and your business are right now, before you can figure out where you want to go or how to get there.

Once you've done a self assessment and you've thought about what you might want to achieve in 2012, you need to set some goals. Make sure your goals are clear, concrete, measurable and achievable. Don't forget to set a timeline or deadline for each goal. Without a timeline, it's really just an idea or vision, not a goal. Finally, write down your goals. Putting your goals in writing is critical in actually achieving success and meeting the goals you set for your business.

Next, you need an action plan. Your action plan will include the steps or actions you need to take in order to achieve your goals, the timeline for completing each step, and what resources or supports you need to be successful.

Click Here for questions you can ask yourself regarding where your business is right now to get you started on your self-assessment:

6 Areas To Focus on to Grow Your Family Child Care Business in 2012

Record Keeping - Make this the year you finally set up systems to get all your forms and records in order - and maintain them. This includes financial records, child enrollment forms and files, food program and other program documentation and paperwork, employee files and payroll records, curriculum planning, child assessments, etc...

Budget - It's hard to stay afloat in business if you don't have, and follow, a budget. Your budget tells you how much income you are bringing in, how much you are paying out in expenses, and what you have left over - your profit.  

Knowing how much you have coming in and going out allows you to project future cash flow, which makes it possible to plan for expansion or quality improvements. Budgeting also makes it possible to plan for long-term financial goals such as retirement.

Marketing - If you don't already have one, create a marketing plan for 2012 so that you are marketing continuously, not just when you have an opening. What marketing strategies are going to be most effective for you, and how can you implement a marketing strategy on a budget? Be sure to always ask potential clients how they heard about you. This way, you know what strategies are working and which are not.