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The Next Normal: How K–12 Independent Schools Can Survive and Thrive in a New Landscape (Executive Summary)

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enrollment.org | members@enrollment.org | May 2020 6 4 5 6 Take these steps in the next month: Develop two price points Will you be able to be on campus in the fall? Will you stay on campus the entire year? As the McKinsey model points out, this is uncertain. The solution? Develop two price points: one for an on- campus experience and another for an online program. If you need to shift delivery, you'll be ready. Strategic opportunity: Enroll students in your online or hybrid program to boost enrollment and tuition revenue. Create three budgets Prepare for disruption by creating alternative business models accounting for tuition not only at normal levels but also at reduced levels. Strategic opportunity: Implement changes your school needs but you haven't been able to push through before. Does it make sense to contain cost, equalize workload, change remission, or simplify fees? Now is a great time for action. Understand if you need to focus on viability, stability, or sustainability Not every school will emerge whole from this crisis. Now is the time to have frank conversations about your financial health. Reach out to a neighboring school about forming a partnership. There are many ways to collaborate, including sharing a bus route, staff, or even a building. Strategic opportunity: If you are in a stable financial position, you may be able to merge with or acquire a competitor to become more sustainable. We are deeply grateful to our contributors, all highly regarded thought leaders in this industry, and to you, our school leaders, whose courage and entrepreneurship will set a course for high-level innovation and future, long- term stability in our schools. Onward we go!

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