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Your Corporate Training Business Model

Your Corporate Training Business Model. The goal of this presentation and discussion is to help you identify : How your business compares to national (U.S.) and global benchmarks The current “trajectory” of your business: Where it is taking you? Is it enough?

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Your Corporate Training Business Model

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  1. Your Corporate Training Business Model • The goal of this presentation and discussion is to help you identify: • How your business compares to national (U.S.) and global benchmarks • The current “trajectory” of your business: • Where it is taking you? • Is it enough? • Your revenue accelerators and limiters (and how to maximize the accelerators, minimize the limiters) • Opportunities for improved efficiency and cost savings • Strategies for additional revenue streams • Competency model for a successful independent corporate training business owner. • If you were realizing less than 40% of the profit potential of your business, how would you know?

  2. Information Sources

  3. Independent Training Business Experience 1980’s Late 1990’s Early 1990’s 1990’s

  4. Leverage Relationships Minimize Cash Outlays DIY Throw mud on the wall and see what sticks Focus on Sustainable Growth and Strategic Differentiation Minimize Dependence on Key Leader • Lean vendors for: • iAccounting • iMarketing • iService • Proactive Cash Outlay Business Model Word-of-Mouth Previous Employer Bz. Cards & Brochures Network Groups Passive Website / Blog Strategic Differentiation Key Account Management Associations Active iMarketing Web Video Client Testimonials (best: video case studies) Local Press / Radio Marketing Single Topic (Consultative selling, etc.) Workshop Facilitation Blend of related topics (Customer Service, communication, etc.) Workshop Facilitation Keynote Presentations • Comprehensive “Catalog” • Contract Trainers • Workshop Facilitation • Keynote Presentations • TTT Process • Pre/post Training Media Training Content Years in Business 1-3 4-7 8+

  5. Benchmarks Gross Revenue Years in Business

  6. Benchmarks Was there anything different about these individuals during their first few years in a training business? Percentage Still in Training Business Years in Business

  7. What is the “Trajectory” of your Business? • Do you have a process in place to keep your prospecting funnel always full? • Do you have new, engaged prospects to talk to every week? • Are you tracking the “selling cycle” of your active prospects? • How long is your typical selling cycle? • When negotiating price/terms with a prospective client, how badly do you need the revenue? • Are you seeing consistent year-over-year revenue growth? • Is your “tool kit” and library of potential client solutions regularly expanding?

  8. Revenue Accelerators Limiters Your capacity Your arena of training expertise Geography / Travel Tough Economy • Prospect/lead sources • Partnerships with associations to which prospects belong • Add-on training reinforcement resources that can be introduced to all previous training clients • New/innovative solutions to solve client problems: • Employee productivity • Employee motivation • New hire selection/onboarding

  9. Maximize the Accelerators • New prospect/lead sources • Partnerships with associations to which prospects belong • Add-on training reinforcement resources that can be introduced to all previous training clients • New/innovative solutions to solve client problems: • Employee productivity • Employee motivation • New hire selection/onboarding

  10. Minimize the Limiters • Your capacity • Your arena of training expertise • Geography / Travel • Tough Economy

  11. Efficiency and Cost Savings • TrainingRegistry.com • Ringcentral.com • Web Hosting: 1and1.com • Web Design: DIY and/or have local developer build within a software program that YOU can also use.

  12. Additional Revenue Streams • New (differentiated) training solutions • Hiring Assessments • Recruiting interview/assessment training • Workplace productivity training • Non-training solutions that align with your brand

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