Why Start a Training Business?
This is the first in a series of posts we’ll be doing about “Starting a Training Business“. We want this series to be as helpful as possible to all of our readers, so if you have any questions/comments/clarifications/ideas on how we can improve, don’t hesitate to get in touch!
Education is Changing
Education around the world is changing at an incredible rate. In the developing world you have emerging economies such as Brazil, India, and China (BRIC) modernising at a very fast rate which is putting pressure on educations systems that were already not providing enough access to students. In the developed world, the cost of education has been rising at an unsustainable pace for the last thirty years, and this is causing access problems as well.
Non-university training offered either in-house or by training companies has always existed, but increasingly will need to step into the gap being created across the world that’s being left by traditional education routes. As emerging economies seek to address societal and economic issues with regulation, this will additionally create new markets for training businesses.
It’s a Great Time to Start a Training Business
In short – all trends point towards the increasing importance of training delivered outside of the university system. It’s a great time to start a training business and these trends don’t see any evidence of reversing course over the next ten to twenty years. Think back to your own experience with the education system – most don’t seek out much training past their higher education degree. The training that is consumed is probably accessed via a conference, internal company training, or possibly mandated by your professional or accrediting body. All of this training must be provided by companies just like the one you’re pondering creating.
Access to Markets is Easier than Ever
Now more than ever before, you can access and take advantage of these trends, even if you’re not local to them. Distance and e-Learning now make it possible to deliver a quality curriculum or course remotely. The huge drop in travel costs over the last twenty years make access to emerging markets easier as well. The internet is a great tool for marketing via the web, social media, industry forums, and other forms of search advertising.
Leverage Your Experience and Skills
You’ve learned skills and have experience that you’ve gained throughout your career, or from the training you’ve received. This is a valuable asset, but one that’s hard to quantify and leverage in most workplace settings. By starting a training business you can directly tap into what makes you successful, help others avoid your mistakes, and make a difference in the lives of your students.
Twitter Facebook Google+ Linkedin Email