When meeting with them, my most frequently asked question is “Why training?
Of all the business alternatives you could choose, why are you interested in starting a training company?
The other piece of advice I provide begins with “Entrepreneurs beware!
” It’s easy to get into the business, but it’s a challenge to stay.
Show the market that you are the expert in your field.
Publish articles, blogs and case studies – anything that documents your expertise. Many well intended individuals advise that you should get to know as many people as possible. Yes, networking is important, but getting to know the RIGHT people is the goal you should strive for.All are good development grounds for entrepreneurs and offer excellent credentials for credibility with prospective clients, but background does not always guarantee a successful company.Some plan to launch their business as a consulting or coaching practice where training will be a component of their service offering.Regardless of whether you want to be a contract designer, instructor, or consultant, or you want to create a learning technology or product, these tips will help ensure your success and reduce your risk of failure.Doug’s 10 Tips for Starting a Training Business 10. If you are starting a new training business, it helps immensely to demonstrate that you possess the knowledge, education or validation that proves you know more about the subject than others. I’ve seen too many training entrepreneurs fail because they passively approach day-to-day activities.Launching a training company is not for the meek and mild.Sadly, many very talented people who start training ventures neglect to lay the proper foundation before hanging out their shingles, or they fail to follow some basic tenents once the business is up and running.Others say they intend to form a pure-play training company that offers customized services or courses to suit client needs.Both will work, but again, there’s no guarantee as to what the clients will buy.If your main business is a service, then productize that service. Anyone can claim they do custom course development, but to differentiate yourself, you must define and name the proprietary process for your course development more clearly and effectively than others. A value proposition is not why should think you’re special.For example, Accenture has productized strategic alignment under the name Business Interlock, while Intrepid Learning Services productizes its assessment service as JARS. Take your time to define it succinctly and convincingly, and then test the message with others to see if it works. Buyers of training products and services are proficient at researching potential suppliers.