The Business of Training

What are those things in your training business (university, division, unit) that you believe will help you achieve a successful outcome to your business strategy? They may be related to cost reduction, corporate objectives, new technology, process changes, etc. What will help ensure your success? They may be unique to your training business or new products for your customers. The standard things for a successful training business are adequate capital, cash flow, good employees, and customers. These are not the success factors for your business - they are the result of your success factors. Again, you need to establish the key success factors that will complement your business strategy. What gets the customer to choose your product and - call you ; browse your web site; meet and buy from your sales person; or come into your training center?  Call Me! Success Factors fall into several categories : Set realistic business objectives and goals Understand your uniqu...

What should I report? Reports related to your organizations progress, financials, quality, goals, etc. is key to your success.  You need to know if you are on track with meeting your objectives and if you are achieving the company's objectives.  Both your team and your manager need to know if you are on track.  The single most important thing in operating a training business is - Financial Performance.  Are we contributing and how much?  Training Services needs to be viewed as a source of improved performance and profit.  In that way your organization is on equal ground with other profit centers for resources and investment by the company. First of all you must ensure that your organization has P&L responsibility for its destiny otherwise you are using someone else's money for everything.  You must speak the language of a business manager.  You must align your deliveries with corporate objectives.  Then you need to establish business r...