Tamara Simon's Weekly Blog
Business Insights for RTOs
from my favourite Movies, TV Shows and Books
(and some other bits and pieces)

Time For Your Annual Business Check Up

Are you saying AAAGH or AHA?

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

Are you on track with your Annual Business Plan or has the plan gone out the window?

Business Strategy Insights for RTOs

As 31December looms, it’s a great time to give your RTO a Business Health Check Up to ensure everything is still OK or give you some ideas about what needs to be quickly addressed so 2020 is simple, profitable and sustainable.

 

Function

What to do

What needs to change for 2020?

Done

Finance

  • Budget versus Actuals
  • Follow up outstanding accounts and get paid

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

 

 

Business Plan

  • Review 2019
    What’s been completed, what’s left to do and is still relevant/needed?
  • 1 Page 2020 Business Intent

 

 

Staff/Contractors

  • Annual Performance Reviews – staff and contractors
  • Staff Performance and Training Plan
  • Contractor Agreements

 

 

Marketing

  • Review and update website
  • Marketing Plan
  • Social Media Strategy

 

 

Proposals

  • Review fees for each service/product
  • 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
    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

 

 

 

What’s Next?

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, with your client because you’ve undercharged for the services you provide.

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

PS:  If you’d like some help to write your 2020 Business Intent on 1 Page, then please check out my ‘How to write your RTO’s 2020 Business Plan.. on 1 Page’ webinar which I ran on 4 December 2019.

If you’d like to get the recording, template and Statement of Attendance, please click on the link to get more information and register.

https://businesssceneinvestigation.webinarninja.com/live-webinars/147141/register?in_tok=73ef5389-c48b-4666-86cc-05d55d58b862

Want some help from Tamara – Australia’s Only Dedicated RTO Business Coach?

If you would like some help to take you from STUCK to SOLUTIONS… SIMPLY from someone who’s been there, done that in RTO Land, please check out my coaching services on my website

https://www.takeanotherlook.com.au/

Or contact me direct:

0438 262 727 or tamara@takeanotherlook.com.au