Income generation


Think like an entrepreneur


The innovative approach taken by Russell Dalton at Pershore High School now generates a six-figure income – so is it time you explored new territory?


that our main priority is that of the nances of the school – after all, every decision made has a nancial implication. However, we are all struggling to balance the books and the rollercoaster ride of public funding is becoming more and more challenging. Therefore, now is the time to get our thinking caps on and start being more entrepreneurial. The starting point for looking at


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any income generation has to be the vision of the school. What are the aspirations and are they shared with all stakeholders, or is it a statement that just appears somewhere on our website? (see p10). Our vision statement will then lead to many mission statements and strategies


he role of business manager sees us juggling a lot of priorities. We cannot escape the fact


to achieve this vision. One of these strategies has to be income generation, otherwise there will not be the funding to achieve the vision!


Do your research One area that will signicantly aid you in building your income generation strategy is understanding the local area’s needs and desires. This will initially take some time, but once you have this data it will be invaluable. Don’t make assumptions! For instance, you may think a big income stream would be an all- weather pitch, but once you have analysed what the local area needs, you may discover that trampolining would bring in much more revenue. In doing your analysis you must not forget local businesses – they offer a large revenue stream for you, but they could also benet you in other


FundEd AUTUMN 2017 15


IMAGES: LUPLUPME; MSMOLOKO; KATYAGRIB/THINKSTOCK.CO.UK


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