Why being everything to everyone is detrimental to you and your RTO business
This week's #blog takes inspiration from one of my favourite books: Steve Jobs: The Exclusive Biography by Walter Isaacson which tells the rollercoaster story of Steve Jobs' life.
What is great about this book is although Steve Jobs consented to it being written, he asked for no control over what was written nor even the right to read it before it was published. Nothing was off-limits – imagine that!
So enjoy the Business insights which can be implemented into any RTO from the abundance of inspiring and relevant quotes from this amazing innovator and entrepreneur.
FOCUS: Grow Your Business
What are the five products you want to focus on?
Get rid of the rest because they're dragging you down. They're turning you into Microsoft.
They're causing you to turn out products that are adequate but not great.
My marketing and business coach continues to remind me that CHOICE COMPLICATES THE SALE, and when you put yourself in the shoes of a potential buyer, it makes sense.
Think about the last time you went into a store where you were bombarded with choice. Where you could hardly move in the store because every piece of real estate had product on it, where eg the clothes were packed so tight on the rack you couldn't move them to even check for your size?
How did you feel? Overwhelmed? Claustrophobic? In a buying mood?
Of course not because you hadn't been welcomed into a calm inviting environment which understood the more choice you have, the harder it is to decide what to buy, often resulting in no sale at all.
This is why, in business, it's much better if instead of initially showing potential customers/clients everything we can do and all the ways to help them, we start with just 3 options which often take this format:
Option 1: Do It Yourself
Option 2: Do It With You
Option 3: Do It For You
The price goes up from Option 1 to 3, and most people gravitate to the middle option.
Another way these options are presented is the Good, Better and Best model where the price, value and services provided increases as you go up the scale.
Now think about your scope of registration.
Are you trying to be everything to everyone and believe every person is your ideal student?
This thinking results in you being the master of Nothing.
In addition, I bet you're also struggling to get students into every single one of those qualifications or programs.
Because you're not talking to them as an individual buyer in each of these different markets (industry sectors) in a language they understand. Too much training jargon and not enough tapping into the problems they are frustrated about and your training can solve.
What if instead, you looked at your financial numbers and specialised in no more than 5 profitable markets, qualifications, industry sectors (though 3 would be even better)?
This then becomes the training (and brand) your RTO is known for.
Think of the reduction in work alone. You no longer have to keep up to date on so many things especially when Training Packages and units of competency change frequently.
There's no point offering potential students the world if the market is not buying. And if they are only buying a little bit and that's not profitable, then why are you spending time and energy running and maintaining it?
So please embrace Steve Jobs' philosophy that Less is More, and see where it takes you.
For Steve, less is always more, simpler is always better. Therefore, if you can build a glass box with fewer elements; it's better, it's simpler and it's at the forefront of technology.
That's where Steve likes to be, in both his products and his stores.
Again, it's a consistent message of less is more but to me, this quote also refers to how you are branding and packaging your RTO.
Can you say, hand on heart, you and your RTO are at the forefront of training for your industry? And if you can, how did you come to that answer – ego, data, hearsay, gutfeel?
Simplicity in branding and marketing occurs when someone like me, who doesn't know your RTO at all, can look at your website and in less than 5 minutes, clearly understand:
- Who your ideal student/s are
- What problems your training solves
- How you can help peopleAND
the test of this is if I can refer you to someone else because the branding is simple and easy to remember.
So how well would your RTO do if I 'mystery shopped' your RTO, either in a workshop or via your website?
Could I easily refer your RTO to your ideal client/student instead of your competitor or does your website look like every other RTO?And here's my final thought:We made the iPod for ourselves, and when you're doing something for yourself or your best friend, you're not going to check out.
If you're don't love something, you're not going to do the extra mile, work the extra weekend, challenge the status quo as much.
So would you buy your RTO's products and services.... or would you pass it by for something else?
If the answer is No, what's one thing you need to change so you love it enough to buy yourself and refer to others?
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.
Dedicated to making your RTO life easierTamara