Summer class options are key to ensuring summer cash flow.
	Summer can be a difficult time for small tutoring companies.  In fact, even well run companies sometimes struggle with cash flow in July and August.   A primary reason for this is that small businesses often  use cash based accounting  Since cash flow generally aligns with revenue which aligns with the business cycle,  once the business cycle dips, so to does the cash flow to the business. However, since this pattern of demand is knowable, there are ways to cope.  One of the obvious ways is to reduce the expense baseline during low demand months.  Another way is to generate more revenue  per each expense dollar spent.  And still another way is to zero in consumer behavior and timing in order take advantage of what I will call micro-demand cycles.  It is the latter two that we'll focus on. To be clear, coping with diminishing demand is not the same as generating record setting revenue.  But if the goal is to cover expenses until  the demand cycle regenerates in late August, here are some best practices.   identify summer programming that will generate cash flow without killing the margin schedule to maximize program efficacy.  This is code for scheduling classes or camps.  Larger groups disproportionately and positively impact revenue in comparison to expenses.  Here is a short list of things that I have used with good effect: SAT/ACT Bootcamps SAT or ACT Weekend Workshops College Admissions Essay Workshops Summer Reading Programs STEM based camps You needn't schedule more than one or two of each from the list above in order improve a revenue position. A caveat:  people are making summer plans now and will therefore welcome information further in advance than during peak demand periods.   The time to get the word out for summer programming is essentially over the next few weeks. Good luck and please contact me if you have any questions! Kevin Learn more about this or schedule a free consultation through the Test Prep Professionals  quick scheduler.		Free Workshops - May May SAT/ACT Strategy                    Tutor Recruitment                                            Growing your tutoring business                                                    Budgeting Basics                                           Join  Test Prep & Tutoring Professionals through Linkedin. Forward to a Friend Follow on Twitter Friend on Facebook Unsubscribe Update Subscription Preferences View Email In Browser
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Test Prep & Tutoring Professionals April 2015  Industry Update
	Industry update     ABA approves LSAT optional threshold for law schools New MCAT update Recap of SAT, PSAT, ACT updates The LSAT Perhaps in response to the dwindling number of Law School applications, several Law Schools have moved to make the LSAT optional for admissions.   The ABA has ruled that Law Schools may fill up to 10% of their classes with students who have not taken the LSAT.  A key element of the ruling is that these LSAT-optional folks must have a strong track record of standardized test scores.   In a broad sense, this underscores and supports the idea of test preparation and we suspect that the LSAT prep demand will increase when Law School applications rebound. The MCAT Elsewhere, the New MCAT is set for April 17th.  Here is a quick infographic from The Stanford Daily on the changes.   You can see a detailed look at the MCAT question types by section here.  The big takeaway for tutoring folks?   Be sure to enlist the services of science subject specialists.  There will be a trailing increase in tutoring demand for at least the next 12 months as AAMC normalizes the curve. SAT, PSAT, ACT And, earlier this month, the College Board announced some new information about the Redesigned SAT (rSAT)as well as theRedesigned PSAT.  (rPSAT).  With thanks to  the folks at Compass Education Group, this is what we understand to be the latest: 1.  Rather than four practice tests, the CB will be developing eight practice tests; four of those tests will be developed by Khan Academy with close oversight by the CB. 2.  The first (and currently the only) Mock PSAT practice test will be released this month (March 2015). 3.  The first four rSAT Practice Tests will be released sometime in May, 2015.  We have read that the tests will be released in hard copy form through a  New Official SAT Study Guide  AND virtually through Khan Academy.   The full article by Adam Ingersol at Compass Education Group is available here. Meanwhile, ACT announced its  2015-16 Test Dates for District Testing and continues to report stellar growth in its number of test takers.  In the most recent ACT College Readiness Report, ACT notes that over 1.8M students took the ACT in 2014 (ACT reports this is an 18% increase over 2013).   Are you ready to prep more ACT folks?              Learn more about us or schedule a free consultation through the Test Prep Professionals  quick scheduler.		Free Workshops                                 SAT/ACT Strategy                                                                       Tutor Recruitment                                                                           Growing your tutoring business                                                                                   Budgeting Basics                                                                  Employment  International Baccalaureate Tutors TTP - Greater Boston Area - Mar 23, 2015 Forward resume to teach@testprepprofessionals.com Program Manager, At-Risk Travelers Harvard University - Greater Boston Area - Mar 23, 2015 Save job • Share • Delete Technical Writer NetBrain Technologies Inc. - Greater Boston Area - Mar 23, 2015 Save job • Share • Delete Data Integration Manager, Department of Innovation and Technology (DoIT) City of Boston - City Hall - Mar 23, 2015 Save job • Share • Delete Research Associate I Broad Institute - Cambridge, MA - Mar 23, 2015 Save job • Share • Delete Research Associate I Broad Institute - Cambridge, MA - Mar 23, 2015 Save job • Share • Delete Intern – Internal Communications Cengage Learning - Boston, MA - Mar 23, 2015 Save job • Share • Delete Director - Institutional Marketing Cengage Learning - Boston, MA - Mar 23, 2015 Save job • Share • Delete Manager, Systems Analysis Cengage Learning - Boston, MA - Mar 23, 2015 Save job • Share • Delete Lead Identity Engineer Houghton Mifflin Harcourt - Boston, Massachusetts - Mar 23, 2015 Save job • Share • Delete Page: 1 2 3 4 5 6 7 8 9 10 next » Forward to a Friend Follow on Twitter Friend on Facebook Unsubscribe Update Subscription Preferences
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