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CE EntrepreneurshipWalk the Talk!<br />Presented by<br />Patty W. Pool, MBA, PhD<br />Grayson County College<br />Denison,...
Today’s Program <br />Entrepreneurship –<br />What is it? <br />How risk tolerant is your college?<br />Can You Walk the T...
Today’s Program <br />Learn to Think Like a For-profit<br />A pricing model that works<br />Ideas to Bank On!<br />Transfo...
An entrepreneur is….<br />one who starts a business or <br />other venture <br />that promises economic gain, <br />but al...
Entrepreneurship inContinuing Education<br />The practice of undertaking new ventures, ideas, services, promotions and/or ...
Survey question<br />
What is the level of risk tolerance at your college?<br />a. High – We have a very entrepreneurial culture that encourages...
Risk in Entrepreneurship Requires Administrative Support<br />
3 Ways to Assure Administrative Support<br />1.		Know more about your business 	than 	anyone else at your college<br />2.	...
Know more about your business than anyone else at your college!<br />Know your state guidelines<br />	Take time to learn<b...
Make informed projections<br />Know who you are dealing with<br />Tell the story of how the new venture fits the college m...
Accountability = Credibility<br />Work from an enterprise resource planning (ERP) perspective<br />Keep track of RESULTS<b...
Survey question<br />
How is CE organized at your college?<br />Clear lines between open enrollment (scheduled classes), community ed, and corpo...
Organize to Maximize Talent<br />	Do you have the right people on the bus and in the right seat?<br />Jim Collins, Good to...
Deliver Solutions<br />Open Enrollment – Scheduled Classes<br />Customized Training<br />
Survey Question<br />
How do you price courses and class offerings? <br />a. We use a fixed hourly rate similar to the credit programs. (May or ...
What is a Price?<br />
Bundle of Attributes<br />Training and Education = Services<br />Tangible Attributes <br />Workbooks, textbooks, handouts<...
What is Price to CE?<br />Price of the Class = Revenue<br />Costs Associated = Expenses <br /> Price – Expenses = Contribu...
Pricing Considerations<br />Breakeven Pricing<br />Competition<br />Markup for Retail <br />Bundle Pricing<br />
The Pro Shop Model and Continuing Education Budget<br />Increase sales and <br />expenses increase<br />Do you stop sellin...
Worksheet-Expenses & Variables<br />
DirectExpenseCalculations<br />Total $1,413<br />
Price<br />
Price &Check PointRatios<br />
Caution! <br />Use micro-analysis sparingly<br />	Look at your offerings as a group rather than “by the each.”<br />Potent...
The Worksheet Will Work for You!<br />Track your business:<br />	Sales Revenue<br />	Expenses by Category<br />Contributio...
Ideas to Build On!	<br />Certifications<br />Healthcare professions<br />Technical Needs<br />Local needs<br />Renewable P...
Entrepreneurship Starts with YOU!	<br />Understand the level of risk tolerance at your college<br />Become the expert on C...
Questions? Other ideas?Dr. Patty Poolppool@cwlgcc.org903-463-8765Visit http://cwlgcc.org<br />
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NCCET July Webinar - CE Entrepreneurship – Walk the Talk

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Every continuing education division is capable of engaging in entrepreneurial ventures. The latitude that you have to be entrepreneurial, according to Dr. Patty Pool, starts with you! This session focuses on how you change the college conversations to include revenue generation to cover your division.

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NCCET July Webinar - CE Entrepreneurship – Walk the Talk

  1. 1. CE EntrepreneurshipWalk the Talk!<br />Presented by<br />Patty W. Pool, MBA, PhD<br />Grayson County College<br />Denison, Texas<br />
  2. 2. Today’s Program <br />Entrepreneurship –<br />What is it? <br />How risk tolerant is your college?<br />Can You Walk the Talk? <br />Techniques that move your division forward<br />
  3. 3. Today’s Program <br />Learn to Think Like a For-profit<br />A pricing model that works<br />Ideas to Bank On!<br />Transform your strategies to focus on revenue instead of expenses <br />
  4. 4. An entrepreneur is….<br />one who starts a business or <br />other venture <br />that promises economic gain, <br />but also entails risks. <br />(American Heritage New Dictionary of Cultural Literacy,<br /> Third Edition, 2005)<br />
  5. 5. Entrepreneurship inContinuing Education<br />The practice of undertaking new ventures, ideas, services, promotions and/or practices that promise economic gain for the college based upon an acceptable risk tolerance.<br />Patty Pool, 2011<br />
  6. 6. Survey question<br />
  7. 7. What is the level of risk tolerance at your college?<br />a. High – We have a very entrepreneurial culture that encourages risk taking.<br />b. Moderate – We actively seek new ventures with moderate risk.<br />c. Low – Only the sure-thing is tolerated.<br />d. No tolerance – We focus primarily on reducing costs at all cost.<br />
  8. 8. Risk in Entrepreneurship Requires Administrative Support<br />
  9. 9. 3 Ways to Assure Administrative Support<br />1. Know more about your business than anyone else at your college<br />2. Make informed projections<br />3. Be accountable<br />Accountability = Credibility<br />
  10. 10. Know more about your business than anyone else at your college!<br />Know your state guidelines<br /> Take time to learn<br /> Be able to answer the question, “Can we do that?”<br />College budgets are about expenses <br />Build your foundation on revenues<br /> Learn to use the college ERP<br />
  11. 11. Make informed projections<br />Know who you are dealing with<br />Tell the story of how the new venture fits the college mission<br />Be able to satisfy the analytics <br />Show revenue versus expenses<br />Demonstrate improved cash flow<br />Give Go/No Go scenarios<br />
  12. 12. Accountability = Credibility<br />Work from an enterprise resource planning (ERP) perspective<br />Keep track of RESULTS<br />
  13. 13. Survey question<br />
  14. 14. How is CE organized at your college?<br />Clear lines between open enrollment (scheduled classes), community ed, and corporate/business training.<br />Depends on who is paying—private pay or grant-funded.<br />Small staff doing it all!<br />Other<br />
  15. 15. Organize to Maximize Talent<br /> Do you have the right people on the bus and in the right seat?<br />Jim Collins, Good to Great<br />
  16. 16. Deliver Solutions<br />Open Enrollment – Scheduled Classes<br />Customized Training<br />
  17. 17. Survey Question<br />
  18. 18. How do you price courses and class offerings? <br />a. We use a fixed hourly rate similar to the credit programs. (May or may not add fees)<br />b.We use a formula that covers expenses.<br />c. We cover expenses and include a markup.<br />d. Other method<br />
  19. 19. What is a Price?<br />
  20. 20. Bundle of Attributes<br />Training and Education = Services<br />Tangible Attributes <br />Workbooks, textbooks, handouts<br />Binders, jump drives, tools<br />Intangible Attributes<br />Experienced instructors<br />License required for curriculum, equipment<br />Web access to your division<br />
  21. 21. What is Price to CE?<br />Price of the Class = Revenue<br />Costs Associated = Expenses <br /> Price – Expenses = Contribution to Overhead<br />
  22. 22. Pricing Considerations<br />Breakeven Pricing<br />Competition<br />Markup for Retail <br />Bundle Pricing<br />
  23. 23. The Pro Shop Model and Continuing Education Budget<br />Increase sales and <br />expenses increase<br />Do you stop selling when your budget is at zero? <br />Do you close the pro shop?<br />
  24. 24. Worksheet-Expenses & Variables<br />
  25. 25. DirectExpenseCalculations<br />Total $1,413<br />
  26. 26. Price<br />
  27. 27. Price &Check PointRatios<br />
  28. 28. Caution! <br />Use micro-analysis sparingly<br /> Look at your offerings as a group rather than “by the each.”<br />Potential to grow?<br />Potential to feed into other programs?<br />
  29. 29. The Worksheet Will Work for You!<br />Track your business:<br /> Sales Revenue<br /> Expenses by Category<br />Contributions to Overhead<br />State Funding/Reimbursement Contributions<br />Calculate Financial Ratios<br />Overall Return on Investment<br />Gross Margin Percentage<br />
  30. 30. Ideas to Build On! <br />Certifications<br />Healthcare professions<br />Technical Needs<br />Local needs<br />Renewable Professional CE Credits<br />Partnerships with for-profits—split tuition<br />Host conferences & events<br />
  31. 31. Entrepreneurship Starts with YOU! <br />Understand the level of risk tolerance at your college<br />Become the expert on CE<br />Use a pricing model that sustains growth<br />Build partnerships everywhere<br />
  32. 32. Questions? Other ideas?Dr. Patty Poolppool@cwlgcc.org903-463-8765Visit http://cwlgcc.org<br />

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