During any economic downturn there will be certain businesses that do not survive, while others manage to understand the problems in front of them and thrive. The Business Growth and Development programme at Cranfield School of Management (www.som.cranfield.ac.uk) has worked with owner-managers over a 20-year period to understand certain behaviours demonstrated by those who are able to emerge as winners. Set out below are three of the behaviours that were identified.
Be Strong
Try to focus on factors that truly make a difference to the bottom line within your settings, and make sure they are managed rigorously. A common example would be challenging all costs and identifying areas where savings can be made. Don't hesitate to negotiate discounts with suppliers, and to take action against parents who continue to delay payment of fees.
Register now to continue reading
Thank you for visiting Nursery World and making use of our archive of more than 35,000 expert features, subject guides, case studies and policy updates. Why not register today and enjoy the following great benefits:
What's included
-
Free access to 4 subscriber-only articles per month
-
Unlimited access to news and opinion
-
Email newsletter providing activity ideas, best practice and breaking news
Already have an account? Sign in here
