10 Questions Every Training Business Should Answer
If you offer IT training, you’ve probably noticed that the domain is evolving rapidly. New learning trends emerge, new topics are demanded, and technology continues to change. The IT training business is not an easy one to be in. In order to stay relevant for your clients, you need to constantly adjust.
To help our training partners, I asked them how they cope with the changes and how they find opportunities. Many of our partners chimed in and based on their inputs, I’ve created a list of top 10 opportunities for training businesses. In order to understand how to capitalize on these 10 opportunities, I invite you to ask yourself the following questions:
Fulfilling demand vs. understanding the source of demand. Where do you stand?
Don’t fall into the trap of fulfilling demand for training only. Figure out where the demand comes from, and doors to new opportunities will open.
Do you suffer from classroom tunnel vision?
Classroom training is very relevant and also the preferred delivery format for many professionals. However, technology has made alternative learning modalities possible – and if you don’t offer these delivery methods, someone else will.
Are you leveraging market trends and changes?
Technology advances quickly, IT trends change all the time and international standards increase complexity for your clients. If you are aware of the latest developments, you develop many new opportunities for IT training.
Are you enabling your sales & operations teams?
It’s easy to add a new product to your portfolio – the difficulty is getting it sold and delivered properly. But if you execute sales and operations well (read: train them well), it will result in happy clients, recurring business, and additional revenue streams.
Are you suffering from product tunnel vision?
Some providers rely on one product or methodology only. This can can work in their favor as they will have expertise with regard to the chosen product or methodology. It can also be risky. You might be fitting a square peg in a round hole (meaning: using your product or methodology for something it was not designed for). Also, you might be missing opportunities.
Are you taking pricing too lightly?
What do you charge for your training courses? If the price is too low, you’re leaving money on the table. If the price is too high, your sales cycles take longer. What’s the right price point?
Are you staying in your comfort zone?
It’s easy to get comfortable. You are selling one product and it is doing well, so why change? Well, for starters, you could increase your business. You should also consider what happens when the one product you have been banking on stops to deliver?
Can you balance the number of new activities?
There are many opportunities in IT training today. You may be able to juggle, keeping 3 balls in the air…but that does not mean you have the ability to successfully juggle with 10!
Are you going it alone?
For small training providers, it can be challenging to offer the solution that is required for large training tenders/ RFP’s. But what if you started a joint venture or find ways to scale?
Are you driving demonstrated value for your clients from training?
Don’t go through the motions. Selling and delivering a course doesn’t mean all the new information will be understood, embraced, and acted upon after training. Actively follow up with your customers and focus on the value you generate for them.
Curious to see how you can improve on these ten questions?
Download the full white paper which includes solutions, tips, and tricks per question. http://www2.itpreneurs.com/10-missedopportunities
Or, alternatively, review the presentation.
Have a look at presentation which includes the ten questions, feel free to download.