5 tips for growing your training business
Are you a training provider, and want your course business to grow, but unsure of how? Allowing growth in your business is absolutely necessary for increased profitability and long-term success.
But achieving growth, especially in small training businesses, is not easy. This is actually one of the most difficult challenges course providers face.
Below I give you 5 tips you should follow, which can contribute to increased growth in your training business!
Set a common long-term goal
First and foremost, it is important that everyone who works in your business works together towards a common and long-term goal, also called a vision. It is difficult to achieve growth without knowing what you want to achieve. Setting good goals means that everyone moves together, in the right direction.
Once you have set a common and long-term goal, you are dependent on setting sub-goals. These are smaller goals that all lead towards the mail goal. With sub-goals, you can measure the progress of the process against the vision along the way.
A rule of thumb you can follow if you are setting goals is to follow the SMART criteria. All goals must be:
Specific: The design of your goals must express exactly what you want to achieve. Make your goal as specific and easy to understand as possible.
Measurable: In order to know where you and your colleagues are in the process of achieving your vision, it is important that the goals you set are measurable. This allows you to measure the extent to which the goal has been reached. Often in the form of “how often”, “how many”, “how much”, “what percentage”, etc.
Ambitious: To motivate your co-workers to reach the goal, it is important that the goal is ambitious. If the goal is ambitious, your colleagues will go the extra mile to achieve it.
Relevant: Make sure that the goals you set are relevant to the vision, strategy and those set to achieve them.
Time-dependent: Both the long-term goal and the sub-goals should be set in a schedule, so that the employees in your course business have a common understanding of when the goal should be reached.
These criteria make the employees work more efficiently, in a common direction towards a mutual goal. In the long run, this contributes to long-term growth for your course business.
➡️ Do you want to ensure long-term growth? Read our 9 tips to increase the profitability of the course business
Create an effective strategy
To achieve the goals you have set, it is important to develop a strategy. A strategy, as you probably already know, is an action plan to achieve your goals.
An effective strategy should be easy to understand and thus easy to communicate. The success of the strategy depends on your ability to implement it.
It is natural to build a strategy from the start, but remember that it is important to make continuous changes in line with the success you experience on the way to your set goals. If you do not feel that the business is progressing, it usually means that you need strategic changes.
Dare to go for it!
Are you stuck in old patterns, and wondering where to start following market trends? I know it can be safe to operate with habitual processes, and that it is easy to follow an already existing practice. Remember that the potential for growth is usually greater, and not the least closer than you think!
The market in which your course business operates is most likely in continuous motion, and the changes in today’s technological world are happening rapidly. Therefore, it is important that you follow on accordingly. Join groups and connect with people on LinkedIn that are in the forefront of the market you operate in. Be the first one to latch on to trends, and dare to take risks with your course business.
And remember, If you always have to spend time solving minor problems within your business, you will not have time to see the company from the outside, and then be able to develop the business. Be innovative and believe in new technological, time-saving solutions. This way, your employees will do the same.
Use digital solutions
In a digital everyday life, as we know it today, there is no time to rest. Non-digital course solutions are the biggest time thieves for growth in your business. If you only operate with manual solutions, this will lead to more work than necessary, double punching and thus much of the time you could otherwise spend on value-creating work is wasted.
The younger generation has grown up with digital solutions, and these will not die out any time soon. Regardless of who your target group is, there will be continuously more digital focus in your course network.
By using digital solutions, you can quickly and easily gather a large amount of information in one place. This makes the course more user-friendly and easy for you to manage, but also easier for the customer to sign up and attend. If the course participant experiences a higher degree of user-friendliness before, during and after your course, this will help to increase customer loyalty in the long run.
➡️ A digital registration solution could be ideal for your course company, read our 8 tips for finding the right registration system for your courses
Map out competing companies
In what areas can your business grow that your competitors cannot? Find your business’s growth area, and compare it with your competitors’. Make sure to keep the focus within the company, on the areas of the business that contribute to growth.
I’ve written about this before, but I’ll say it again – stand out from your competition! Having a Unique Selling Point is a fundamental factor in achieving success. There will always be other course providers in the same market as you. Therefore, it is important that you map out the advantages and disadvantages of your particular course business, compared to the competitors.
“How can I stand out?” Is a natural thought. And the answer is to position yourself by offering a different service than the competition. This could be, for example, offering a different price, delivering a better customer experience, responding to your customers faster, marketing your products in a different way, having a different course package etc.
➡️ Are you unsure of how to price your courses? We have the answer, read: How to correctly price your course!
You have no time to lose. Make your course business grow today! Gather your colleagues, set good goals, map out how you can get out of older patterns and create an innovative strategy.
To save you time when it comes to manual and time-consuming tasks, FrontCore offers a digital course management system. Read more about the solution HERE.
Author: Mari Carlsen
Mari is a digital content writer for FrontCore, and helps training providers to achieve a profitable training business. She has a bachelor’s degree in Communication Management from BI Business School and is passionate about communication. Mari is also Inbound certified through the HubSpot Academy. Visit Mari’s LinkedIn profile here.
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Over 3500 training providers use solutions from FrontCore – and that’s not without reason. FrontCore is one of Norway’s leading competence environments within cloud based systems for Training Management and Webmarketing. With over 19 years of experience from the training industry and our finger on the market pulse continuously, we help course and training providers achieve more efficiency and higher revenue.
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