Time For Your Annual Business Checkup

It's the end of the year so how's your RTO travelling?

Are you on track with your Annual Business Plan or (COVID issues aside), has the plan gone out the window?

As 31st December looms, it's a great time to give your RTO a Business Health Checkup to ensure everything is still OK or give you some ideas about what needs to be quickly addressed so you can springboard into a successful 2021.

RTO BUSINESS HEALTH CHECKUP

For each of these Function Areas, please consider what to do and what needs to be changed for 2021 so it is an even more successful year than 2020.

FINANCE
* Budget versus Actuals
* Follow up outstanding accounts and get paid

Have you included costs for professional development, marketing and business development?

BUSINESS PLAN
* Review 2020 - what's been completed, what's left to do and is still relevant/needed?
* 2021 Business Plan

STAFF/CONTRACTORS
* Annual Performance Reviews
* Performance and Training Plan Template
* Contractor/Third Party Agreements

MARKETING
* Marketing Strategy and Plan including social media
* Review and update website

PROPOSALS
* Review fees for each training program
* Contact external stakeholders/suppliers for updated fees and costings
* Update training proposals and template letters with new rates (yours and any external costs)

SYSTEMS
* Review existing file directory (electronic and physical) - is it user friendly, simple, need decluttering, everyone files in the same place?
* Review and update existing procedures
* Identify procedures still to be done
* Prioritise and work on #1 item until completed, then move on to the next one
* Declutter filing cabinet - shred, archive
* Declutter Inbox, Sent Mail and Email subfolders
* Use 4Ds Principle - Do it, Diarise it, Delegate it, Delete it

I know none of this is exciting stuff to do but it's all these little essential things that, left unattended, will cost you and your RTO time and money.

And money in your pocket is better than money walking out the door; or worse still, remaining with your client because you've undercharged for the training services you provided.

And here's my final thought:

The difference between a successful person and others is not a lack of strength, not a lack of knowledge but rather a lack of will.
Vince Lombardi

P.S. If you'd like some help to write your 2021 Business Plan, then my How to Write Your 2021 Business Plan... on 1 Page Webinar might be exactly what you need.

Dedicated to helping you GROW your RTO business

Tamara