A 6-month Income Growth Model For Schools
By David Adeniji – 08069462143 – firstname.lastname@example.org
Yesterday, we defined growth as increase in size, number, value or strength. Every school needs to consistently increase in size (physical Structure), number (population of children), value (amount of money generated,) and ….
We dealt considerably with increase in population. I hope we all enjoyed that session. Honestly I really did. I got something entirely new, even though I prepared the material
..* STRATEGY NUMBER 5 – COMMUNITY PROJECT STRATEGY*
“`Everyone who waters will be watered – a law of increase“`
That should refresh our minds, now let’s fire in into today’s discuss. Its more or less a continuation in our growth series.
You’d agree with me that you can actually grow your school’s income without necessarily growing the population significantly. Something about population is that as it grows, it must be sustained. And with the volatile nature of the economy and keen competition we are in, it’s a good work you’ll have to do to sustain this population growth. In another training for another day, I will teach you:
*HOW TO SUSTAIN YOUR POPULATION GROWTH*
So the good news is we can grow School’s Income whether or not Population grows.
Now, I will not dabble into the conventional income sources – School Fees, this fee, that fee, every fee. You’re familiar with all that. You and I know that those FEES hardly increase extraordinarily. If you try to play around them too much, it might be disastrous. The Economy is in challenging times and there is keen competition in our business. Again, in another training for another day, I’ll teach you on:
*HOW TO INCREASE SCHOOL FEES CONSIDERABLY WITHOUT LOOSING ANY STUDENT*
Here are some rare strategies for income growth
1. DYNAMIC PRICING/BILLING SYSTEM
2. MAKE MONEY FROM WHAT COSTS YOU MONEY
3. SCHOOL MULTIPLE INCOME STREAMS
I WILL BE TALTING MORE EXTENSIVELY ABOUT EVERY TOPIC EVER DISCUSSED ON THE SOF PLATFORM IN OUR FORTHCOMING SOF OUTDOOR SESSION. IT WILL HOLD FEBRUARY 2018. PLEASE KEEP INVITING MORE SCHOOL OWNERS TO JOIN THIS PLATFORM. AT THE SOF OUTDOOR SESSION, THE FOLLOWING SHOULD BE EXPECTED
- Networking Sessions
- Brainstorming Sessions
- Strategic meet-ups with School Resource
- Advanced Innovation and School Marketing Sessions
- Advanced Educational technology discovery sessions
- Full exposition on all subjects ever discussed on the platform and more
- School Consultancy
- Introduction to the Thinkage Complete School Growth Strategy
- Practical hands on Training for moving from one level to another
- Introduction to the smartest School Management Software and Mobile App
_——— SO LET’S CONTINUE
1. DYNAMIC PRICING/BILLING SYSTEM
A.) Every fee we charge parent in school begins with the bills we give them. The School Bill is more or less our invoice, detailing the services to be rendered and how much each service cost. These services are items that include Tuition, After School, Wears, Sports, ICT and so on. For most of us – at least the majority of us – there is a fixed bill for each class.
B) Eg, Year 1 pay x amount, year 12 pay y amount and so on. This is especially the case for new intakes, there may be varying levels of discounts, but generally, the fee range is the same for each class and it’s one billing structure for each.
*WHY NOT LET’S TWEAK THAT A BIT*
Let’s Go dynamic with the bill (invoice)
Take Year 7 (Jss1) as case study
*YEAR 7 BILL (BRONZE)*
Tuition – N50,000
PTA – N5,000
*YEAR 7 BILL (SILVER)*
Tuition – N50,000
PTA – N5,000
AFTER SCHOOL – N15,000
SPORTS – N10,000
*YEAR 7 BILL (GOLD)*
Tuition – N50,000
PTA – N5,000
AFTER SCHOOL. – N15,000
SPORTS – N10,000
SWIMMING & KARATE – N10,000
PIANO LESSONS – N10,000
PACKED BRUNCH – N19,000 (N300 PER DAY)
…and it can just go on and on
C) See you could create up to 4 separate bills for each class. The idea is, parents who don’t have much will have a pick and for parents who can afford some more luxury, their children should not be denied such. Experience has proven to us that more parents will go for the higher bills. You know why? They really don’t like it when their children are denied of some thing while others children enjoy such, simply because they (parents) can’t afford it.
D) Now in that billing system, make it flexible, give them the freedom to *remix* the *menu* – picking, choosing and removing what items they want or do not want. At the end of the day, students’ bills will vary which is good for the school
Now, no matter how high or low your fees are, this dynamic billing system is possible
E) *NOTE* – In printing this bill, spice it with distinct colors for each package – if you’ve ever bought software online, you’d understand this. See the image below for a clue. Adjust it as necessary.
2) MAKE MONEY FROM WHAT COSTS YOU MONEY.
As school owners, there are some aspects of our school setup that cost us huge expenditure. They are not readily seen on the outside, but your passion for good/quality education will not allow you hold them back from the children. Needless to say that some of your competitors don’t even have such quality equipment as you have, yet they are seemingly doing well. But every time, you just tell yourself, ‘the difference is clear, when parents walk in, they will know the difference’.
Such aspects include
2. LABOURATORIES (eg Home econs)
3. TOOLS WORKSHOP, etc.
For the sake of time, I will pick ICT. Yes, we can make more income from the deployment of certain ICT hardware and software in the school. Now I’m not going to tell you to suddenly convert your precious ICT lab into a computer training center. This will come with overheads costs and also damage control measures. *NO*
I will tell you of School Management Software that even though you get it use it absolutely free of charge, you can make extra income from your parents by using it.
1. There’s a School Management Software called *THINKALLY* (https://goo.gl/2jtbwY). It was developed by our Company in 2009. Many schools use it as we sspeak Its installation and usage is absolutely free of charge. That’s not all, with it you will make extra substantial income termly if you so wish. The following is what it does for you
1. Your teachers no more do results manually, they simply upload exam scores, test scores and comments unto the portal and results are digitally computed with grades, broadsheets, cumulations all digitally computed.
2. You have the option of printing out the results for every child or allowing them check the results at home online.
3. This online checking of results is where we’re going to exploit to make extra income.
4. With the software, you can automatically generate unlimited PINS which when packaged well will be sold to parents to access their children’s results online. They print out the results and bring them to school at resumption.
5. Now, you can make it look more professional by concealing these PINS in SCRATCH CARDS before selling to the parents. A good printer will do this for you. If we print it for you (at say N300 per card), you can sell to parents at N1,000 each. They may use it for just one term, two terms, or a whole session depending on your choice.
6. *Now that’s not all, the software has a feature called *ASSIGNMENT BANK*. Still at no cost. Just as results can be uploaded checked online, assignment/project files can also be uploaded by teachers and downloaded by parents/students, also using the scratch cards. *YET ANOTHER COMPELLING REASON FOR PARENTS TO GET THE CARDS
7. Again, that’s not all. Immediately you switch to this digital way of doing things, that were otherwise done manually – all at no cost – you’d suddenly see new and more exciting atmosphere in your school. The world has gone digital. See, we’re about 200 on this platform and we’ve been communicating without seeing. I don’t need to tell you that the software has embedded in it accounting packages, customized bills and receipt generators all at no cost…the feature list goes on.
8. If you have say 500 students in school. And you’ve made a profit of say N700 from selling each scratch card. That’s N350,000 without overheads. It may be small, but it’s something. Your teachers do the job excitingly. That amount can sure pay. For more details on *THINKALLY FREE SCHOOL MANAGEMENT SOFTWARE*, chat me up privately. See features here: https://goo.gl/2jtbwY
9. Time will not permit me to go into other areas. Do you know you can create income from that your beautiful home economics lab, your science labs. Those equipment are too costly to just sit there and get dusty. Just do some homework and some research. Get thinking.
*3. SCHOOL MULTIPLE INCOME STREAMS*
So now you see that the whole idea of this lecture is to open your minds to unconventional (conventional being school fees) but legitimate ways of maximizing the resources you already have in school to create extra income streams for school.
This third point will really get you working.
*If hard work and God’s grace has brought you a market consisting of various parents with various means, then you have so much power in your hands. School fees is not all they owe you. They certainly owe you more*
*The problem is: school fees is all you’ve positioned and developed yourself to receive from them*.
A). If you have say 200 children in your school and amidst them, there are say, 100 families. That’s roughly 200 parents (fathers and mother’s). If you as a knowledge dispenser, an experienced teacher and manager and a person already of means, if you write a book targeted at your caliber of parents and sell it to each family. and launch it at one of your parties. Then go ahead and sell it to every one of them (these lovely parents will buy it with pride and even showcase it in the public). *You’ve made income both from the launch and from the sale*. If you do it every session, you’ve secure a constant income source.
B)If you cannot write a book, what if you champion a monthly, bi-monthly, quarterly, bi-annually, or yearly publication, event, show, exhibition or something…built around the ready made market God has given you – 100 families, at least 200 heads, and by extension their friends and associates…
D)You need to sit down, do a little more thinking, a little more creativity, a little more writing, a little more networking, a little more learning. You can create that something extra to take advantage of this market you already have.
*SCHOOL FEES IS NOT ALL THEY OWE YOU, RATHER, IT’S ALL YOU’VE POSITIONED YOURSELF TO RECEIVE FROM THEM*
When you build more value into yourself and leverage on the ready made market God has brought your way, you suddenly realize that you as a person are actually becoming a brand. This value rubs on the school, what you’ve created even now becomes a subtle marketing tool both actively and passively for your school. Anywhere your book is read, your school is seen and advertised. Anytime your magazine is published, the school’s brand is pushed. Every time your show is attended, You’ve gathered a cheap pool of prospective parents and students
*As this your sphere of influence widens, your income grows*
You know why?
*YOUR NETWORK IS YOUR NET WORTH*
🎈DETAILS OF THE SOF OUTDOOR SESSION
✅Date: Wed 14th Mar, 2018 | 10am
✅Venue: Cranfield Bizhub, No 7, Razaq Balogun Street, off Adebola Street, Off Adeniran Ogunsanya Road, Surulere, Lagos ✅Venue Description: From National Stadium, drive to Masha Round about and turn Left to Adebola, then link Razaq Balogun ( no 7). The street where you have that DSTV office visible from stadium.
✅Host: David Adeniji (Master School-Strategist, Business Coach)
✅Entry: N29,000 (Early Bird – N25,000 – First 50 Registrants)
✅Covers: Lunch, Full Course Materials, One-On-One Consultation with David Adeniji
✅Payment: Access Bank, 0033762968, David Adeniji
✅Contact: 08096719400, 08069462143
🎈There’s always a better way to doing business, Join the class of Masters. Your school needs fresh solutions.