Nursery World - Work matters: Business Development

Whatever the size of your operation, it is vital to keep track of every financial detail. This month Sarah Steel, managing director of The Old Station Nursery Group, outlines how all her managers use key performance indicators to ensure that the business stays on track.

I am frequently surprised at how little management information some nursery managers, and indeed, owners, have at their fingertips on a daily basis.

I looked at a setting that was for sale a couple of years ago and although I was speaking to the owner, she looked completely blank when I asked her for a copy of her balance sheet. Everyone needs a good accountant and/or bookkeeper, but it is vital that whoever runs the business can put their finger on the important figures when required.

I fully appreciate that many people in the early years sector see administration as a necessary evil, with children quite rightly at the centre of everything they do. However, a message that I have repeated many times within The Old Station Nursery Group is that if we can't measure what we do, we can't manage it and if we can't manage it, we can't guarantee the success of the business. Without a sound business model, we cannot continue to provide a quality environment for the children.

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