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!

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Here Are the Key Takeaways From This Episode:  

  • [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 child care and daycare.

  • Top Three Things + A Bonus to Know During this Time:

    1. 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.
    2. 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.
    3. You need a CRM system. Two are ChildCareCRM and IntelliKid System.
    4. 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.

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