Situation
The owner of a training company wanted to concentrate on training rather than business development, and grow the companies revenue and profitability so that at a later date he could sell the company as part of his move towards retirement. The company delivered technical training to a niche market, tunover had been constant at around £400K per year.
Recently the owner had recruited a professional trainer to deliver training, so that the owner could spend more time on business development. However in practice the owner found that he was not really cut out for business development - he enjoyed training more. In addition he now had another salary to pay which meant they had to bring in more new business.
Action
The Coach agreed with the owner a 'step by step' approach, because the coach wanted to ensure the owner fully understood his proposition and have some basic 'sales processes' in place before focussing on new lead generation.
This involved:
1) A brief market analysis including: The key customers, where did they come from, some of their charachteristics, how did they benefit from the training, the key competitors and how their offers compared
2) A review of the customer process including how they found out about the company, to joining instructions, feedback and keeping in touch after the event
3) A review of key markeing messages and ensuring they were consistently communicated at all customer 'touch points.'
Following the review the owner agreed clearer more specific marketing messages to use where appropriate, and to use the outsourced service of a 'soft touch but effective sales administration resource' to handle customer enquiries, joining instructions, interview customers for feedback after the courses, and longer term contact with customers - including 'soft' sales calling previous customers.
Results
The clearer, more targeted sales messages together with contacting of previous customers generated an extra 10 weeks training over 6 months generating the annual equivalent of £54K additional revenue. The owner felt much more satisfaction now he was back training, and felt able to consider further company development.
And So
The increased revenue meant that the owner was prepared to investigate in further new business development opportunities. As he was now planning to spend 50% of his time delivering training he also realised he needed to systemise and outsource further administration.
He was now confident of the future and was in the process of planning the next step of company development with the coach.
Peter's website: Business Development