A purely offline registered training organisation engaged us to help them develop and implement a business strategy for their next growth phase. This was successfully completed, followed by 6-months of mentoring to ensure the plan became ‘sticky’. Less than a year later, COVID hit, and the business was forced to bring forward the digital component of their business strategy by a couple of years. We were there right from the beginning, ultimately helping them narrowly avoid complete ruin during the height of the lock down periods.
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SCOPE: Strategy and planning, operational and organisation redesign, digital transformation, marketing.
Industry: RTO within a specific niche
Business Model: B2B only, providing face to face training solutions.
Established Business: 10+ years.
Reach: One State only at the start of the engagement. Successful expansion into a second State following the engagement.
Business Size: Revenue of several million $’s per annum; 8 staff.
Engagements
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Engagement #1. Develop a business strategy to help future proof the business from various external threats. Undertake customer research and competitor analysis.
Faced with competitive threats and the rapid rise of digital technology, this RTO business was struggling. Over the past two years, revenue and profit had declined.
We were engaged to help management turn things around.
Initial Diagnostic:
We began with a deep dive diagnostic, uncovering several issues that highlighted the business’s static nature. The business had not evolved much since its inception over a decade ago, and its outdated methods were a critical limiting factor.
Customer Research and Competitor Analysis:
We conducted thorough customer research and competitor analysis. We interviewed around 15 existing and past customers using a standardised set of questions. For the competitor analysis, we engaged in mystery shopping and other undercover activities to assess the competition. This data, combined with our diagnostic findings, helped us develop a comprehensive understanding of the market.
Strategic Planning:
Using the insights gained, we collaborated with management to develop a 5-year strategic plan. This plan addressed the critical issues and set a clear path for growth and modernisation.
Implementation and Mentoring:
Once the strategic plan was finalised, we provided several months of mentoring to assist the business in implementing the plan. This included ongoing support and guidance to ensure the successful execution of the strategy.
This comprehensive approach enabled the business to modernise its operations, address competitive threats, and position itself for future digital transformation leading to growth and success.
Engagement #2. Lead their digital transformation.
Less than a year after completing our mentoring engagement, the COVID-19 pandemic hit, putting the business into crisis mode due to its reliance on face-to-face services. Despite recognising the need for digital transformation, the business had delayed this shift and was unprepared for the pandemic’s impact.
Crisis Response:
The CEO urgently contacted us to accelerate their digital transformation plans. The fear was that without a swift move to online training, the business might have to close permanently. We moved fast due to the nature of the problem, and over a short three month period we helped the business pivot from solely face-to-face training to exclusively online training due to strict COVID-19 lockdowns.
Transformation Process:
- Rapid Shift to Online Training: Transitioned all training programs to an online LMS.
- Development of Hybrid Model: Enabled the future offering of offline, online, and hybrid training modalities.
Outcomes:
- Revenue Increase: Expanded service offerings led to increased revenue.
- Operational Efficiency: Handled more training sessions without increasing staff numbers, improving profitability.
- Market Repositioning:Positioned the business as a serious competitor in the modern, digitally driven landscape.
Outcomes:
Accelerating the digital transformation not only saved the business during the pandemic but also positioned it for long-term success and growth. Post-COVID, the business was able to offer more diverse and flexible training options, driving increased revenue and profitability while maintaining a competitive edge in a digital world.