RTO Business Coaching

The Best Way To Set Your RTO Business Up For Financial Success

Whether your RTO is a new business, or you are in your business’s growth stage, you want to be sure that your RTO is set up for success. Your passion for training and your business is there to make you money, not lose it. Therefore you need to ensure that you are setting your business up to succeed. There are many components of your RTO that needs to be taken into consideration. What I see too often is training and marketing is first and sadly the finances seem to be last on the list. When in business, managing the money in your business with confidence is vital. Cash flow drying up is one of the top reasons for business failure. Knowing your business numbers is an essential part of the business. You need to see if you are making money to grow and stay in business for the long term. An RTO is a business in a regulated industry, and sometimes this means that you need to take a cut in the first couple of years. But after that you need to make a profit, unless of course you have very deep pockets! Love the educational aspect of your RTO, and love your numbers. For you to make a profit, means you need to have financial objectives in your RTO. Don’t be a victim. Take responsibility for your RTO business, and learn to look at where it is financially. Complaining about the government, COVID or other changes in your industry is being a victim. A victim to your circumstances. You have a choice; you can be very bitter and complain, or you can do something about it. Life is about decisions and choices. But what do you do with that money you are bringing in? Create an efficient system for billing clients. When dealing with models of invoices they need to be sent promptly, and show clear terms for when they are due, as well as penalties for late payments. You can also motivate clients to pay early by offering discounts for paying on time and perhaps additional discounts for paying early. Make sure you follow up on any payment defaults for ongoing scheduled payments. A sound record-keeping system in place Minimize missed bills by having a clear and efficient billing strategy that is linked to an accounting software suitable for the size of your RTO business. These can be linked to online payments, and Student Management Systems and help make bookkeeping easy. They also generate financial reports efficiently. Interpret the data by reading and understanding financial reports By reading and understanding financial reports, you will have feedback on how your business is performing, and you will identify the strengths and weaknesses in your business. For example, you can tell which course is the most profitable, which in turn tells you what you need to do more of. Set up a financial plan and following it A financial plan gives direction for your business. Once you lay out specific financial goals for your business, you can measure your performance against those goals on monthly. Planning your business and where you believe it needs to go is a great exercise, and as an RTO you can utilise the FVRA tool that ASQA provide. Yes, we have all heard the negative comments about that tool, yet the reality is, it can help you see where you are, and plan where you want to be. This exercise gives you immediate feedback on what worked and what didn’t work, so you can adjust your approach as needed. This helps make your RTO the most profitable it can be. Calculate the ROI for advertising and marketing. It’s important to know what kind of return you’re getting for the money you spend on advertising, marketing and promotions. Track everything on a spreadsheet, or for online advertising, it’s fairly easy to track analytics (such as with Facebook or Google ads). Manage cash with confidence Cash management is one of the most essential functions in business. Implement a system to manage your cash flow. Cash flow means the money that flows in and out of your business, and ensuring you have the cash to meet bill payments requires management of timing. Reduce expenses. Don’t skimp on items essential to creating the best products and services. At the same time, make sure you’re not paying more than you need to. Even minor expenses add up over time, so it’s always useful to look for ways to cut costs. The bottom line is how you manage your business’s money will determine how profitable your RTO will be. If you aren’t following how the money moves in your business, you likely are leaving money on the table. If you want to be successful in business, financial wisdom is just as important as mastering your specialty. The most profitable companies know their business numbers, ensure they don’t have money leaks and maximize their profits. Sadly, many talented people fail because they haven’t taken the time to learn how to manage their finances. Take the time to identify areas where you need to get up to speed and start making any necessary adjustments. Should you need help with managing the finances in your business, a business coach is the perfect coach to help you make more money in your business. Need some help? Talk to Merinda for 15 minutes about your RTO BOOK Now

Read More »
RTO business coaching RTO Mentor

Building a positive culture within an RTO

Creating a vibrant and supportive culture within a Registered Training Organisation (RTO) is about fostering learning and staff contentment and also about building the foundation for business success. A positive culture cultivates an environment where employees thrive. This results in the satisfaction and dedication they bring to their roles. As this satisfaction permeates every aspect of the RTO, it directly translates into improved student experiences and outcomes. This ripple effect extends to market demand, driving up the appeal of your courses and ultimately boosting profitability. When the culture within an RTO turns sour, the consequences can also be far-reaching yet this time they are detrimental. A negative culture breeds discontent among staff, leading to decreased morale, motivation, and productivity. This, in turn, adversely affects the quality of education and support provided to students. As dissatisfaction spreads, it tarnishes the reputation of the RTO, leading to a decline in enrolment and revenue. It’s not a good look or feel. So often though I feel it when I walk in the door to undertake training, an audit or assist with compliance. The toxic culture may also foster conflicts, resistance to change, and high staff turnover, exacerbating the RTO’s challenges and jeopardizing its sustainability and relevance in the competitive training arena. Therefore, recognising and addressing signs of a deteriorating culture within an RTO is crucial to prevent further damage and facilitate a turnaround toward a more positive and constructive environment. Where does the RTO CEO start? Even when an RTO has a documented framework detailing the mission, vision, and goals, underneath lies an elusive entity – the ‘unwritten’ culture. This intangible aspect is the deeply entrenched beliefs regarding the rationale behind operational actions. I often describe it to clients as the golden spiders web thread. The thread so fine that no one can see it, yet they can feel it; when it’s there, and when it’s broken.   When you suspect the culture is broken, start small. Don’t try to change the world. Spend the first 6 months building relationships and getting to know the truths of the workplace. Being heavy handed is not going to achieve anything more than further resignations. Start by asking critical questions: How do we define our organisational culture currently? What are its strengths and weaknesses? What cultural shifts are necessary to remain competitive? Which systems, structures, processes, and behaviours require adjustment to drive desired cultural change? How can culture changes facilitate specific organisational goals?     A positive RTO culture is characterised by an environment that fosters trust, collaboration, and innovation. It cultivates a thriving workplace where individuals can reach their full potential, driving organisational success and sustainability. How can other RTO leaders assist? Firstly, leaders must have a clear understanding of the type of culture they aim to cultivate within the RTO. Whether it’s fostering innovation, prioritising collaboration, or promoting diversity and inclusion, having a well-defined vision of the desired culture is essential. Once the desired culture is identified, leaders must embody the values they advocate for. They serve as role models for employees and students alike, setting the tone for acceptable behaviours and attitudes within the organisation. Consistency between values and actual behaviours is crucial for building trust and credibility. In their interactions with both employees and students, leaders must exhibit open and positive behaviours that allows empathy, and fairness. Open communication fosters trust and ensures that everyone is well-informed and aligned with the organisational goals and objectives. To foster a conscious organisational culture within your RTO, consider the following principles: Lead by Example: Demonstrate honesty, accountability, and transparency in your actions and interactions, setting the standard for others to follow. Cultivate a Culture of Care: Value individuals’ contributions and treat them with dignity and respect, fostering a sense of belonging and mutual support. Foster Loyalty: Recognise and appreciate employees’ efforts, ensuring fairness and equity in all dealings. Embrace Equality: Treat all members of the organisation fairly and impartially, regardless of their position or rank. Embrace a culture of accountability, allow mistakes to serve as learnings and a catalyst for positive change. As a leader, this also involves owning up to mistakes and openly sharing the subsequent personal growth. This approach is incremental, yet very effective. Employee engagement Achieving 100% employee engagement requires a deliberate approach. Initiate open dialogues to understand employees’ needs and aspirations. Develop an organisational culture aligned with these needs, offering opportunities for growth, recognition, and well-being. Encourage collaboration and teamwork among staff members by creating opportunities for open communication, idea sharing, and mutual support. Celebrate team achievements to foster camaraderie and a sense of collective accomplishment. Acknowledge and reward employees for their contributions and achievements to boost morale, motivation, and engagement. Celebrating successes and milestones through verbal praise, awards, or other forms of recognition reinforces a positive culture within the RTO. While benefits such as educational opportunities and remote work options contribute to engagement, it’s crucial to embed engagement practices throughout the employee lifecycle, from on-boarding to off-boarding. Support the whole workforce by create a culture where existing leaders provide guidance in setting boundaries and mentoring the next generation of leaders. This nurturing environment, where such mentorship is an implicit expectation, is vital for the organisation’s growth and development. The most significant mistake is to overlook the importance of defining organisational values or assume that they are self-evident. Articulating and reinforcing organisational values are crucial for shaping a positive culture aligned with the RTO’s mission, fostering employee engagement, and driving organisational success. In summary, the significance of culture within an RTO cannot be overstated. It serves as the foundation upon which all aspects of the organisation thrive, from employee engagement and student satisfaction to market competitiveness and financial success. By implementing these strategies, RTOs can create a positive culture that fosters collaboration, innovation, and continuous improvement, ultimately enhancing the learning experience for students and the overall success of the organisation. Therefore, investing time and resources in cultivating a positive culture is not just beneficial but essential for the long-term prosperity of

Read More »
RTO set up WA RTO Mentor

RTO Initial Registration result

What others say about working with RTO Mentor over the years. Words from people who achieved RTO Inital registration using RTO Mentor, who have had internal audits, and had coaching with Merinda. See them here.

Read More »
RTO LLN resources

LLN resources

What Works for LLN video library This is a valuable website with some great ideas, templates. The What Works for LLN is an online library of free language, literacy and numeracy (LLN) training and professional development videos. The What Works for LLN videos are for: 💡 VET practitioners 💡 supporting the delivery of LLN specific units such TAELLN411 Address Adult Language, Literacy and Numeracy skills 💡 LLN professional development for RTOs and their non-training staff 💡 learners undertaking qualifications such as TAE40110 Certificate IV in Training and Assessment/TAE40116 Certificate IV Training and Assessment 💡 trainers, managers, team leaders and supervisors in the workplace. What Works for LLN was funded under the now closed Workplace English Language and Literacy (WELL) Program by the Australian Government Department of Education and Training. All the What Works for LLN videos were produced by Ideas That Work. These LLN videos are freely available to trainers and learners to view online, download or embed into e-learning software or a Learning Management System.   https://www.ideasthatwork.com.au/lln/practical-lln-tips-for-trainers-and-assessors/ Practical LLN tips for trainers and assessors

Read More »
rto set up digging planting a garden

Unveiling Vulnerability: Naked Gardening Day

There are so many lessons from the garden for RTOs. Last week over lunch I was listening to a podcast about plant wisdom, and seeking wholeness in nature. Earlier in the week I was discussing a team building day with an RTO, out in the garden. Then today I noticed a new “world day” about nature. I saw the pattern, the theme, which got me thinking about RTOs and business. With so many peculiar holidays that pass by on social posts, I often don’t take notice. One that stands out for me as being eccentrically fun is Naked Gardening Day. Observed the first Saturday in May, this day invites enthusiasts to shed their inhibitions along with their clothes and connect with nature in the rawest form. At first, I took this idea with laughter and scepticism. Then I realised it actually holds a lesson for us all, the power of vulnerability. Picture this: a team of RTO professionals, clad in gardening gloves and sun hats, embarking on a interesting journey of growth and discovery. They decided to trade the boardroom for garden beds and their laptops for shovels. They are knee deep in dirt and manure. Yet laughter fills the air, there is much conversing and the spirits soar. Whilst this act of gardening is not naked, each person is unafraid to get their hands dirty in pursuit of innovation and creativity. The childlike wonder comes to the fore, and participants explore the mysteries of nature. As they dig, plant, and nurture, they discover that beneath the surface lies a wealth of untapped potential waiting to bloom. And in that moment, amidst the laughter and the sunlight, they realize that the true beauty of growth lies not just in the destination but in the journey itself. This team are learning about each other, and apply lessons from nature into their own training practice.    Authenticity lies at the heart of both successful gardening and thriving businesses. In the natural world, plants thrive when they’re in environments that align with their needs – the right amount of sunlight, water, other plants and nutrients. Similarly, businesses flourish when they operate authentically, staying true to their values, mission, their client needs and unique identity. Just as each plant species has its own requirements for growth, each business has its own distinct qualities that set it apart from competitors. Honouring these unique traits brings beauty and success. Just as a garden filled with diverse flora creates a rich tapestry of colours and scents, a business that cultivates a distinct identity that attracts customers will foster loyalty. However, authenticity doesn’t mean presenting a flawless facade. Just as every garden has its weeds and imperfections, every business faces challenges and shortcomings. Embracing vulnerability in business means being willing to acknowledge these imperfections openly. It’s about being transparent with customers, employees, and stakeholders, even when the truth may be uncomfortable or inconvenient. Customers appreciate being real (not rude), just real. In our current environment of polished marketing campaigns and carefully curated social media feeds, consumers are increasingly drawn to brands that show their human side. So how can we learn from the lessons of the garden for RTOs. Businesses that are honest about their values, their struggles, and their journey appreciate their journey and the time it takes to grow. They plan for the long-term, and plant now for the future. AND (relating to the naked gardening) By embracing vulnerability and exposing their imperfections, businesses can build trust and forge deeper connections with their audience. Gardening is an act of nurturing and growth, both for the plants being cultivated and for the individuals who tend to them. It involves tending to plants, providing them with the care and attention they need to thrive. Gardening teaches us the importance of attending to the needs of others and fostering their well-being. We learn the importance of observation and responsiveness. We pay attention to the signs of the plants, whether they’re wilting from lack of water or showing signs of disease. We adjust our care accordingly, watering them, providing shade, or administering treatments to restore their health. This attentiveness teaches us empathy and sensitivity to the needs of living beings. Being attuned to the needs of customers is essential for innovation and progress. Businesses must listen to the feedback and preferences of their customers. By understanding their needs, desires, and pain points, a business can innovate and adapt their products and services to better serve their customers. Successful gardens are about the overall environment in which they grow, and so is a business. Creating an environment of growth and development with employees, providing them with the support, resources, and opportunities allows them to thrive. By nurturing the workforce, businesses cultivate a culture of engagement, creativity, and innovation, driving progress and success. The practices and principles of gardening offer a powerful metaphor for personal and organisational growth. Just as a well-tended garden yields a bountiful harvest, businesses that invest in the personal and professional growth of their employees will reap the rewards of a motivated, engaged, and fulfilled workforce.   So what is the purpose of me writing this post? I’m asking you to consider what is happening in your RTO? How are you inviting authenticity? When we strip away the layers of protection to connect with nature in its rawest form, embracing vulnerability in business involves shedding pretences to connect with ourselves and with others authentically. Thus we can cultivate cultures of openness, trust, and innovation that empower individuals and business to thrive.

Read More »
Business RTO Coach

The power of being curious in your business

So how does curiosity affect the bottom line? Planning your business is all about being curious about what could happen if we… It’s about looking at where you want to go, reflecting upon what has happened, and then becoming curious. Using your curiosity skills in your business will enhance: Your awareness (what truly is happening here) Your planning ability (what if I did this…)

Read More »
Business Coach RTO set up

RTO Business Planning

For your RTO to succeed, it is important to fully understand what it takes to start, run and grow. Planning helps to establish how you will stand out from the crowd. This preparation is not only needed for your planning but also for your initial audit through a business plan complete with financial plans/projections.

Read More »
RTO Consultant RTO Mentor

11 tips to make your training stick

It is always a good idea to go out and do your own research and come to your own well evidenced conclusion! Ultimately, mapping should be just one way you are ensuring that your training and assessment are meeting the required standards and ensuring high quality outcomes for your RTO and more importantly, your students! Quality training and assessment leads to quality outcomes.

Read More »

Share this: