Why focusing solely on the numbers can lead to frustration and disappointment
It's a few weeks into a new financial year and if you're like me, you've probably been playing catch up for most of that.
But if you're not careful, you can remain in that firefighting/band-aiding mode for the whole year unless you make a conscious change to stop, reflect and truly plan.
In last week's blog
, I gave you 3 simple strategies to reset you and your RTO.
In this week's blog, I share my tips to developing your 2021-2022 Annual Business Plan, or what I call my 1 Page Annual Business Intent.
If you've written your 2021-2022 plan, you may want to include these considerations. If it's still on the To Do List, I hope this will provide you with the ideas and focus to block out time to GET IT DONE because it's a critical document within your RTO business.
FOCUS: Grow Your Business
When you write your Annual Business Plan (aka Intent), I'm sure you'll be focused on the numbers including:
• Percentage increase in sales
• Increase in staff
• Number of enrolments
• Number of completions
• Number of new clients
• Number of returning clients.
And that's great because firstly setting targets, and then tracking your progress against these numbers is important and critical to your RTO's success.
But in order to achieve these targets, you must also look at the behaviours, attitudes, tasks you're focused on to see if they need tweaking. Without this honest reflection, you cannot be assured of the best chance of achieving this year's annual business plan.
When I help clients develop their 1 Page Annual Business Intent, my template includes three headings: Keep Doing, Start Doing and Stop Doing.
Here's why these three words MUST be included when writing your annual business plan.
Three MUST DO Inclusions In Your Annual Business Plan
1. What Do I Need to KEEP DOING?
What worked for you, your team, your students, your clients and your RTO last financial year?
Maybe it was having weekly staff meetings to keep everyone connected and focused.
Once you know what worked, it's important to ensure you keep these practices going when you get busy rather than letting things slide or getting complacent.
So what are the three things you need to KEEP DOING to grow your RTO?
2. What Do I Need to STOP DOING?
What didn't work for you, your team, your students, your clients and your RTO last financial year?
Maybe you needed to stop saying Yes to everything and everyone instead of actually determining your ideal student (which isn't everyone) so you start talking directly to them.
There will always be distractions (internal and external) stopping you from achieving success, and it's these distractions you need to recognise and stop so you can take your RTO business to the next level.
So what are the three things you need to STOP DOING to grow your RTO?
3. What Do I Need to START DOING?
What held you back last financial year... Why didn't you achieved what you wanted?
Often, it's needing to start embracing all aspects of running an RTO (sales, finance, marketing, systems etc); rather than being what I call 'The Reluctant RTO Owner/CEO/Manager' and just doing the fun or easy work.
Without committing to doing things differently this year, you can only expect similar results because as you know, if nothing changes, nothing changes.
So what are the three things you need to START DOING to grow your RTO business?
By asking yourself these three questions and answering honestly (which I understand may be a bit confronting), you can leave behind the distractions, doubt and fear which may have held you back last year.
Therefore, I hope you'll spend time in July developing (or tweaking) your 2021-2022 Business Plan; but also include in the document the three things you'll keep doing, stop doing and start doing to demonstrate your commitment to success.
And if you don't have a similar document or want one and not sure where to start, then please check out my How To Write Your 2021 Business Plan webinar
for the process and template you need. Whilst I did this webinar for a calendar year plan, to make things easy for you, I've just added in a 2021-2022 template to the resources.And here's my final thought
As they say in sport, how you train is how you play so will you put in the work NOW
to give your RTO the best chance of success THIS FINANCIAL YEAR
Dedicated to helping you run a simple profitable RTO business (whilst juggling everything else)!
P.S. If you're looking for some Support, Strategy and Systems to help you manage your RTO, they why not join me inside Coach In Your Corner – the only membership program designed specifically for anyone running (or aspiring to run) an RTO.