Return on investment on training needs to be talked about !
Too often, training providers gloss over the actual impact they believe their work will make within an organisation. Admittedly it can be tough extracting the actual value that a program contributes over other influences, but it is still worthwhile, both from a quantitative and qualitative point of view.
I provide a range of workshops, including my flagship program 'The Revenue Academy' which is truly focused on sustainability and return on investment. The common theme is that these are not 'competency or skills based' programs; they are transformational in nature, and focus on both professional and personal development.
Click here to read a case study on a recent program where we achieved return on investment within a short timeframe.
Download Laurel's latest white paper on upgrading your revenue generation ability here (no opt-in required).
““Every circumstance in which we try to move others by definition involves another human being. Yet in the name of professionalism, we often neglect the human element and adopt a stance that’s abstract and distant.” ”
Coach the internal sales coach
A smart and popular way to embed new behaviours in an organisation is to coach someone within the organisation
A program which sets up a potent ‘triangle of accountability’ within an organisation. It is an expert based coaching program, which means that the focus of the coaching is on a specific and proven intellectual property approach, in addition to more generic coaching skills. In this instance, the focus is a simple highly customer focused life cycle, where recipients learn how to craft a tailored revenue generation strategy that suits them personally; no one size fits all. For example, there will be very different approaches and structures for a hunter as opposed to a farmer. They are also coached in being able to support their team members with their personal sales return on investment, ie where are they best served to invest their energy, time and resources for the best results.
This program works with (1) the line manager, (2) a nominated internal expert coach and (3) peers via a combination of one on one coaching and workshops to provide coaching support. The challenge is, that often this is the line manager, and some direct reports can feel reluctant to share openly with their boss. By selecting an internal champion/coach, who will be an expert in the customer life cycle and personal ROI methodologies, there will be ongoing internal support. Additionally the line managers and peers will be coached in the structure, essentially setting up a 'triangle of accountability' to encourage revenue generators to perform to a high standard.
Workshop and coaching hybrids
These programs combine the power of individual coaching with the impact of a workshop scenario to ensure that return on investment is a reality. There are regular and tailored workshops available which focus on the customer life cycle and personal ROI methodologies. Participants complete pre-work and hold each other accountable during and after the workshops with peer/buddy support and are provided with a structure for doing so. The one on one coaching not only addresses issues which cannot be raised in a workshop environment, but enables participants to air any concerns regarding how they feel they are not being supported within their organisation. These can then be collectively presented to the workshop sponsor. How powerful would it be knowing what your top talent perceived as roadblocks (but felt uncomfortable raising with you directly?).
Introducing The Revenue Academy
Peer based learning is a powerful way to embed learnings within an organisation. What's more, the success of your training really comes down to how sustainable the teachings are. How many times do your team come out of a training session, all full of conviction and intent, only to slip back into old habits before the month is out? This is particularly frustrating when you are looking at ways to support your teams to fulfil on their revenue generation responsibilities (regardless of whether they are in a sales or non sales role).
Customised and private year long programs to partner those in professional services who have some responsibility for revenue generation (whether they like it or not!). The Revenue Academy helps them to craft, launch and monitor a revenue generation strategy that's agreeable and in a way that's relevant to them. It's got to be based on their unique genius or expertise, personality, chosen market, industry and selling style.
If you would like to know more, please contact Laurel on +64 27 285 9113, laurel@laurelmclay.com or fill out the form below
I love working with people in professional services, and I find that they fall into two groups;
The first group are those who make a living out of sharing what they know as an adviser, agent, broker, expert or consultant. Typically they are responsible for generating their own revenue, and often don't actually like that part of their role. Additionally, they are finding that the 'old ways' of getting business don't work any more. for example even though telemarketing still is used in real estate and insurance, the success rates are in constant decline (and although at some level they still work, it's not a great approach to be associating with their brand). This group includes insurance advisers, mortgage brokers, real estate agents, financial advisers and thought leaders (speakers, authors, coaches and trainers).
Another challenge I find with revenue generation for this group are that they are often fighting some kind of industry reputation crisis, as their industry becomes more and more scrutinised. A sad by product of this, is that new people (both older and younger) are not attracted to these industries as a profession any more, meaning not only is the industry missing out, but they are missing out on a career that is fulfilling and rewarding. additionally, those who are already in the industry can end up hating their job, feeling marginalised, and avoid 'getting out there'.
Please feel free to download a whitepaper which specifically addresses the issues that the Insurance Industry is presently facing here (no opt in required).
The second group are those in law, accounting, technology, telecommunications and consulting services, who now have a significantly larger role to play in generating revenue; it's no longer left solely up to the partners or a sales department.
The specific challenges I find with revenue generation for this group are that they don't feel comfortable or confident about 'selling', they feel at some level that they are 'above' it, and with other demands on their time (increasingly compliance and regulatory requirements) means they simply don't have the time in their day (or will just outright avoid it).
Please feel free to download a white paper which specifically addresses the issues that Professional Services firms are presently facing here (no opt in required).
The Revenue Academy is based on a powerful curriculum, where those in professional services will learn how to not only design a revenue generation strategy that creates results, but also explore their own iconic thinking, and the distractions that apply to them personally, so that they will actually enjoy implementing and following their strategy.
Overview of the Program
The academies are private (sponsored by a company for the individuals who are responsible for generating revenue for that company) and a year long in duration, and based on the principles of peer learning, which is what the highly successful and rewarding Thought Leaders Business School is based on. The Academies present a different way of looking at supporting those people in professional services who are responsible for revenue generation and incorporate both personal and professional development. This requires a shift from the more traditional messages sent to these communities, but the brands who have the courage to do so will definitely reap the reward of reciprocity and associated revenue increase.
Learning communities are powerful, cost effective and enjoyable. The most rewarding element of these academies, is not just the inevitable success that the committed participants will attract, but the massive level of fulfilment and enjoyment that comes with deep exploration into personal and professional development in a peer-learning environment.
The academies combine the power of classroom learning with the efficiency of an online platform. Regular and consistent communication along with structured (and gameful) accountability mechanisms is also a distinct advantage.
There are other simple structures and rituals, including the customer lifecycle framework, quarterly intentions and a buddy structure which will help to keep the participants on track (as humans, even with the best intentions, so often ‘life’ gets in the way, and although we can’t eradicate that totally, we can certainly go a long way to ensuring a longer term commitment).
Who is this for?
Professional Services Organisations who
- are committed to the success of the individuals who are responsible for revenue generation in their community
- are sick of investing in programs for their people where there is no significant (or ongoing) result
- know that they need to address the area of personal development, but don't know how to do it, or are suspicious of 'stereotypical' providers in this space
- are courageous enough to invest in a new community learning approach
- want to send a message to their community that they support them in a way that has never been done before
Who is this not for?
- Organisations who are not professional services (eg retail, manufacturing, distribution)
- Organisations who are not prepared to look at the individuals in their community as a whole, and prefer to be distant than deal with the 'human stuff'
- Traditional or conservative thinkers
- Organisations who only want to reward results rather than back those who aren't yet demonstrating results but show potential
- Organisations who aren't prepared to invest in a year long program
What is covered?
A potent mix of professional and personal development delivered both online and via regular classroom experiences across the year. Specifically, the participants will craft, launch and monitor multiple revenue generation strategies, and also explore their own positioning possibilities. They need to be prepared to have a look at the bigger picture of who they are, and will have the opportunity to address any blocks, which not only have affected their professional life over time, but also their personal life.
What next?
If you are interested in finding out more about The Revenue Academy, please fill out the form below, or contact Laurel on +64 27 285 9113 or laurel@laurelmclay.com.
