A business plan is a very important document as it commits you to document a set of business goals, objectives, target market information and financial forecasts that you are aiming to achieve over a certain period of time. It is very important for you to prepare a business plan if you are starting or growing your RTO. It is equally important that you regularly keep it up to date.
A business plan helps you:
- To understand your success factors for the RTO (business)
- Research and analyses your ideas, your competitors and the market-place
- Helps you get finance
- Helps you with proving your financial viability (ASQA)
- Helps you priorities your goals and objectives
- Control your RTO (business) and improve it
Typically a RTO business plan will include the following or components of the following:
- Profit and productivity targets
- Competitor analysis
- Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis
- Marketing activities
- Training activities
- Cost estimates
- Timeframes and deadlines
Why you need us for your business planning activities
A business plan is an essential part of building a solid foundations for your RTO business, a document that you work with from the beginnings and the growth phases of your RTO. A well researched and written business plan presents you well to your registering bodies, financiers, strategic alliances and to your staff.
We can help you:
- Develop your business plan
- Define your Product / Service for planning purposes identifying your key product / service features, pricing, launch strategy to market
- Research your market segment and identifying key industry trends and benchmarks which are used to facilitate the development of your business strategies and set performance measures.
- Analyse your customer base ensuring your courses features, pricing and marketing strategy are compatible with your target market requirements.
- Analyse your competitors and identifying their strengths and weaknesses and establishing your competitive advantage/s.
- Develop a marketing Plan and determining the right mix of digital and print. This will be based on your target customer and aligned with your courses and services offerings to provide the right competitive advantage.
- Develop your pricing strategy in order to stay competitive, the prices set should always be strategic.
- Develop Key Performance Indicators to ensure your achievements are measured acted upon
- Set your financial budget to ensure your business will earn a higher revenue and not lose money.
- Develop a SWOT Analysis/Risk Assessment to ensure that the right mitigation strategies are implemented on a timely basis.