Think strategically about generating income
The governing board's role is to work together with the senior leadership team (SLT) to develop a coordinated strategy for generating income. You can help your school avoid a scatter-gun approach to income generation, which is both inefficient and ineffective.
Consider all of the factors below when you're creating your strategy to maximise profit and minimise risk.
1. Stay true to your vision and ethos
Think about your school as a business. Your vision and values are your brand. Make sure that any potential partnership aligns with that brand, so you don't harm your school's reputation.
Common sense should apply here. Before you enter into any arrangements with other organisations, make sure you know:
- Exactly what they do
- How they market themselves
Just as individual investors are encouraged to diversify, you shouldn't rely on just 1 single means of