Are you in the training industry? In the area of monetising training and selling your expertise. Are you building your brand to sell your business?
Successful business create a framework and stick to it. Continuing to implement the systems that show you as being the expert. I know many people who have sold their RTO for large sums of money. What enabled them to gain those large dollars? Well I believe it was the systems they had in place, the systems that brought people to their door. It is this great work that they implemented time and time again to build their foundation, and their brand.
RTO Business Phases
All these businesses basically have the same phases.
They built a personal brand for their RTO. For each product they provided, they had a brand. A brand that aligned to their RTO brand.
Each product or program allowed students to move into another seamlessly.
They integrated the framework into the whole RTO. The framework they built was able to be applied time and time again. This meant the business could be a multi-million dollar company.
So why don’t people think about their RTO systems as their foundation for their business? My experience shows they get so caught up in the day to day mechanics of running a business that they lose the focus on their business.
As an example Apple have cornered the market very well, they created an iPod operating on itunes, then a couple of years later they created the iPhone which was built on the same system; itunes. Then they came up with the iPad, each of these worked together in sync and serve the higher and higher aspirations for the customer. The price point grows the more complex the product. Each however are built on the same framework; itunes.
Are you getting caught up with your business and the compliance, and neglecting your RTO framework and hence your future potential? If you are not sure, then perhaps Merinda can help. To find out, request a 60-minute complimentary Business Strategy Session. Let’s see if we can add to your profits all while simplifying your business.
