Hidden Cost of Public Education

As we debate public education’s strengths and woes an article by reporter Carrie Yamato (carrieyamato@me.com) reports that parents of K-12 students in the Palos Verdes (CA) Unified School District are spending approximately the national average $700 sending their children back to school this fall.

If these numbers are correct, and I have no reason to doubt them, nationally $550 is spent on each elementary school student, $725 for middle school students, and $1,000 for high school students.  As reported, “The National Retail Association expects spending to increase $13 million to $83 million, making back-to-school shopping the second-biggest shopping event of the year after the holidays”.

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5 Things To Do Today

If you are serious about growing your business and creating wealth there are several key steps necessary to achieving your goals. Here are five to get you started.

1. Understand that the purpose of business is to create customers.
2. Ensure that every employee is responsible for quality control.
3. Know your people.
4. Train yourself and your staff.
5. Develop an exit plan.

• Creating customers is the foundation of all businesses. Without customers you have a hobby. Focus on your customers and post this throughout the company. Not with cheezy signs like “the customer is king” that have no meaning. Say it simply, The Purpose of this Business is to Create and Keep Customers.

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Easy Money

Depending where you’re located local utilities may provide money-saving services of great benefit.  An example is Southern  California Edison (SCE – http://www.sce.com/b-ebd/economic-development.htm).  This web site displays SCE’s coverage area and  provides details of SCE’s many business assistance services.

California is a notoriously expensive place to operate a business. For nearly twenty years SCE has invested heavily in economic development programs to retain and expand wealth creating businesses in its service delivery area.

I’ve partnered with SCE on many projects, often saving companies up to $100,000 or more. These savings go directly to the business’ bottom line and may be recurring.  Energy programs are offered with California’s  Public Utilities Commission consent and some come and go.  Contact SCE’s business assistance unit via the link above.  Establish a relationship with a SCE business development rep.  But first, do an internal audit of your company’s specific plans.  If you are relocating, contact SCE before doing modifications of the new site.

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Your Assets

Your greatest asset is your name.  Second greatest is what you know.  Third greatest is not who you know, but who knows you.  Think about it.

What you know gets you started and what you don’t know puts you out of edison's first light bulb business.  All too often we do not know what we do not know.  That’s why we succeed with help of mentors more often than not.  The other path is learning by our mistakes.  Thomas Edison said when asked about failing 10,000 times attempting to invent the light bulb, “I learned 10,000 ways not to build a light bulb.”

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