Financial Sustainability in Vocational Education and Training

Identifying Alternate Revenue Streams for RTO’s

by

Bryce Coventon

What we are we doing between now and drink o’clock?

Identify new ways to make money!

Lets get to know each other…

What Industries are represented here today?

What is a revenue stream?

The specific way/s revenue ($) comes into the business.

Any activity that generates income for the business.

Examples…..

Four steps to more money

1. Analyse -

1. Identify -

1. Validate -

2. Do it -

Understand how you are currently generating revenue - Who is paying you and what they are paying for.

Identify potential value add opportunities that will help your client meet their needs.

Select those opportunities that are worth while and you can deliver.

You can make a wish or you can make it happen.

Analyse existing revenue stream

What are your clients buying from you?.... What are you selling?

What is your clients Motivation – i.e. what are their NEEDS?

What is the result of you performing that revenue generating activity?

Pinpoint the Customers needs.

Once you know the clients needs, developing suitable products and selling them becomes easy….

Identify Potential Value Add Opportunities

Think inside the box:

Identify Potential Value Add Opportunities

Think outside the box:

Validate your options

✔✔ ?

✔

Build and market the revenue stream

• Induction Programs

• Risk Management Stationery

• Text Reference books.

Thank you for your involvement today.

If you would like to know more about the workshop and obtain a copy of the accompanying work book, please come and see me.

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