The way humans use tools and make meaning out of them is what helps us evolve. Clever tool use aids our survival and separates us from other species. We learned early on that our existence often depends on our inventiveness. Fast-forward into the 21st century and this concept still applies, especially with how we run our businesses!
We talk with a lot of training companies. They come to us looking for growth, stability, efficiency, and return on their investment. We see the same patterns emerging. Many training companies find the same obstacles hindering their growth: inefficiently used time, lack of visibility over operational matters, inaccurate reporting, important data siloed in disparate systems, etc. They usually run their daily processes through spreadsheets. They overwork their employees or hire extra people to perform mundane admin tasks. They use outdated software or software that only handles a small portion of their workload. Over time they have developed specific processes meant to give them specific outcomes but they have not stepped back from the day-to-day grind to take a holistic view of their business practices.
Often what they need is a training management platform. But we understand why some training companies hesitate. Change can be scary - that’s why, while deciding to take the next step, training companies must find a scalable, adaptable, and reliable choice, which will help them increase their profit and achieve anticipated growth through saving time, increasing course bookings, and accurate reporting.
There’s a reason Benjamin Franklin is one of the most quoted men on earth - he figured out early on an essential concept we often take for granted, “Time is money”. As mentioned earlier, training companies often employ a number of people to perform daily admin jobs that can actually be automated. Automating these tasks allows the company to save a lot of time, which will increase profit while allowing its employees to perform value adding and profit driven tasks. A training company’s main resource is its people.
For example, instead of an employee spending hours sending course registration confirmation emails manually, he/she could do that in less than 2 minutes. Another example comes to mind when I think about all the time Training Coordinators and Executives spend while calling/emailing instructors and students to remind them about an upcoming course when they can simply set up automatic reminders through the system.
In the age of Facebook, virtual reality and 3D printing, do Post-it notes, spreadsheets, and address books still fit in?! The answer is obviously NO. Going online nowadays is a must. Training companies can increase their profit by a landslide by opting to put their courses online and accept online course bookings. For example, airline companies noticed a major increase in income once they allowed flyers to book their seats with just one click rather than have to call or visit travel agencies.
How many course bookings could your team achieve in a month from those that come from either phone call inquiries, emails, or live visits? Now think of that number doubling if you choose to integrate your website with a training management platform which will allow your prospects to register with one click at their comfort.
Nothing increases your business and your profit margins better than a good report analysis. Don’t you agree? If you work at or run a training business, you probably have these questions on your mind:
- How many course bookings have I received?
- How many course bookings have been cancelled?
- How much are the resources for my courses costing me?
With a Training Management Platform like Administrate you can generate accurate training reports within minutes, analyse them, make the right decisions for your business, and trust that they will be there for future reference. Pioneers in the training world do not waste time going through piles of folders and printed sheets to analyse their work processes - they do it with a click.
Growing the Economy While Growing Your Business
These 3 main points that we explored sit side by side with other essential practices training companies must apply. And this isn’t just for the sake of the business’ success – it can also bring great benefit for the local and global economy.
A good economy sits on the top of the pyramid, but what holds it there is its trained and highly skilled workforce. Training companies have a responsibility to deliver exceptional training and really turn their learners from unskilled average-wage workers to high skilled, highly-paid individuals who are able to offer a competitive advantage in their local market that triumphs on others around the world. By improving your training operation, you subsequently improve your training delivery and revenue, which consequently increases the number of a highly capable workforce and boosts the economy.