Test Prep & Tutoring Business Integration Strategy

Test Prep & Tutoring ProfessionalsJanuary 2015 Industry Update
	Are you integrating? During 2014, TPP fielded a fair number of questions about business integration. I suspect the coming SAT Redesign has a some companies brainstorming. While the partnership between CB and Khan Academy will culminate in a free P/SAT prep platform and this will be a challenge to test prep providers, a better understanding is warranted.   This institutional partnership is a form of  vertical integration. Vertical integration was made famous by Andrew Carnegie and Carnegie Steel. Carnegie Steel used backward integration to control elements of the production process. This form of integration is not exclusive to big business nor is it the only form of integration.  Horizontal integration involves developing (or acquiring firms with) like products in order to gain economies of scale. Horizontal integration seems particularly well suited for test prep & tutoring firms. There are a number of fields related to test prep & tutoring.  The usual suspects include:  publishing, content creation, admissions advising, and study skills. More recently there seems to be an uptick in learning differences and cognitive training as well. I've found that most firms at least dabble in one of the above.  If there is something your company does well that is NOT directly related to tutoring or test prep delivery, it may be time to explore developing that area as a revenue driver.  Stick to things that could be easily re-purposed and that are complementary to your existing product mix. For example, if you write your own material, consider expanding into publishing, or apps, or flashcards;  or, if you have developed an excellent study-skills platform, consider specializing in that area. You could also consider a more deliberate partnership with corollary partners such as cognitive specialists or learning difference counselors. The possibilities are numerous  but the main point is that most companies have internal processes & products which, if strategically integrated and leveraged, could help them diversify, increase revenue, and adapt to a changing business environment.   To learn more about this or other strategies, set up a *free consultation here.   *Be sure to select at least 3 alternative times/days.		Upcoming Workshops    Administration II:  Basics of Budgeting February 5, 26                                3 openings                FREE Human Resources I:  Tutor Recruitment February 4, 19                                3 openings                FREE Growing your tutoring business February 12                                    4 openings                FREE March SAT/ACT Strategy          3 opening                  FREE February 11 Open Positions-January New Client Coordinator  Educational Connections  - Washington DC Area January 5, 2014 Program Director Jobs for the Future - Oakland, California - Dec 16, 2014 Save job • Share • Delete Senior Program Manager Jobs for the Future - Oakland, California - Dec 16, 2014 Save job • Share • Delete Research Assistant Jobs for the Future - Boston, MA 02110 - Dec 15, 2014 Save job • Share • Delete Director, Work-based Learning Jobs for the Future - Oakland, California - Dec 15, 2014 Save job • Share • Delete Program Manager Jobs for the Future - Oakland, California - Dec 15, 2014 Save job • Share • Delete Assistant Dean, School of Management, Executive MBA Boston University - Greater Boston Area - Dec 15, 2014 Save job • Share • Delete Site Manager EF International Language Centers - Cambridge-8 Education Street - Dec 11, 2014 Save job • Share • Delete Project Director - Boston Academic Strategy TNTP - Boston, MA - Dec 10, 2014 Save job • Share • Delete College Representative FIDM - Greater Boston Area - Dec 9, 2014 Save job • Share • Delete Associate Director of Pre-College Programs and Director of SPARK Brown University - Providence, Rhode Island Area - Dec 15, 2014 Save job • Share • Delete Forward to a Friend Follow on Twitter Friend on Facebook Unsubscribe Update Subscription Preferences View Email In Browser
	Copyright © 2015 Test Prep Professionals All rights reserved. This month's newsletter for your review. Warmly, Kevin Test Prep Professionals 150 Woburn Street Andover, MA 01810 USA

Black Friday and Beyond:  Strategic Positioning for Test Prep & Tutoring in Late November

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Growing your tutoring business in the first year

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November  2014 Blog Preparing for Black Friday www.testprepprofessionals.com

TEST PREP & TUTORING PROFESSIONALS SAT scores from the November 8th administration will be released starting next week which, as luck would have it, is also Thanksgiving week.  While the beginning of the week may be subdued in terms of inbound phone volume, make no mistake; potential clients will be in the habit of web-shopping because of a fairly normalized consumer sales cycle.  Although this sales cycle is more traditionally related to retailers and holiday shopping,  Test Prep & Tutoring sales also tend to peak as well.  That having been said, Black Friday may be hit or miss for Test Prep & Tutoring consumer traffic--BUT-- the Monday and Tuesday after Thanksgiving are usually quite busy. To take full advantage of this opportunity, it will be helpful to prepare.  Here are some basics worth reviewing with your team: 1.  Have a singular and impactful message.  Whether you are using price incentives, value-adds, or new product announcements, limit the scope of your sales messaging to a singular message of choice. 2.  Have a short team meeting during which this message is discussed and be sure folks fully understand how to discuss and implement the promotion or message of choice. 3.  Review and update sales sheets (product descriptions, pricing, pricing if there is an incentive, limitations to any incentives, and sales scripts if you have them etc.). 4.  Consider developing a quick FAQ for team members taking in-bound calls 5.  Double check class offerings &  tutor availability through January.  Many people will be looking ahead and you will want to have inventory to meet the demand! 6.  Extend the discussion to all tutors and teachers in order to maximize network outreach.  This can be done pretty efficiently through a bullet-pointed email. 7.  Document any and all information from web forms or inbound callers who don't enroll.  These folks could be prospects for a future class or offer. 8.  Consider sending an email on either the Monday or Tuesday after Thanksgiving 9.  Don't forget your current clients--they deserve to be rewarded as much as or maybe event more than new clients. 10.  If you are not in the habit of "goaling,"  try to set an enrollment goal using comparitive dates from the prior year.  For example, if the Monday after Thanksgiving in 2013 your enrolled 3 students, try goaling at 5 or 6 this year.  Extend that logic forward as appropriate. Hope it helps.   Happy Holidays! Kevin