Teaching is regarded as one of the reverent professions in the world.In addition to respectable profession, nowadays business has entered into the educating profession. It won't be a surprise that in the coming decades, Forbes list of billionaries could feature people owning either schools, colleges,universities or coaching centres etc.
Every business primarily kicks off on a small level.The same rationale also applies for coaching venture.The tutor begins by teaching small number of students. As and when, he gets popular by his teaching methodology, he keeps on getting more & more number of students, thereby increasing his revenues & ultimately the profits, also known as the bottom line.In coaching business, the entire revenue depends upon the tutor.To what extent, he is able to attract students by his techniques & innovative style of learning, ultimately determines his success.
Every business primarily kicks off on a small level.The same rationale also applies for coaching venture.The tutor begins by teaching small number of students. As and when, he gets popular by his teaching methodology, he keeps on getting more & more number of students, thereby increasing his revenues & ultimately the profits, also known as the bottom line.In coaching business, the entire revenue depends upon the tutor.To what extent, he is able to attract students by his techniques & innovative style of learning, ultimately determines his success.
However the most important question that lingers upon is, if coaching business had been that lucrative, why every coaching class across the globe is not successful. Well, the answer lies in the fact that not every tutor adheres to the principles of a successful tutor. Although the principles of a successful tutor are mentioned in a text-book, it is difficult to implement. The one who follows "Golden Rules" ultimately wins the race.
Ingredients to start a successful coaching venture:
1) Educating skills are more important than qualifications.
2) Behavior is another important thing for a successful trainer.
3) In the initial stages of coaching business,weightage must be given to value creation rather than price charged, that is focus should be only on enlightening students rather than money.
4) Instead of teaching for all the subjects of all grades , mentor can focus upon his/her forte, the subjects in which he is strong.
5) Tutor is at the center of this profession. Hence, if one tutor's methodology is liked by the students, the entire revenue of that subject depends upon that tutor.
Q -Why teaching skills are more important than qualifications ?
In coaching venture, a tutor gains popularity when he is able to make understand to the students logically what is mentioned in the books. Parents send their children to those places
where his child learns practically all the concepts & thereby score good grades.They do not look for very high qualifications of a tutor (however basic qualifications are a must).
Q - Why behaviour is of paramount importance in teaching profession ?
A dominie has to make understand to his students, not to just make money by reading all the pages of a book. It might be possible that a student might not understand what the tutor explained for the first time . So, it is the duty of every master to make conceptually understand to all his students by giving different examples so as to make each & every concept of the curriculum crystal clear in their minds.
Different ways to succeed in coaching business :
1) Be a Path-breaker
2) Be a Path-follower
2) Behavior is another important thing for a successful trainer.
3) In the initial stages of coaching business,weightage must be given to value creation rather than price charged, that is focus should be only on enlightening students rather than money.
4) Instead of teaching for all the subjects of all grades , mentor can focus upon his/her forte, the subjects in which he is strong.
5) Tutor is at the center of this profession. Hence, if one tutor's methodology is liked by the students, the entire revenue of that subject depends upon that tutor.
Q -Why teaching skills are more important than qualifications ?
In coaching venture, a tutor gains popularity when he is able to make understand to the students logically what is mentioned in the books. Parents send their children to those places
where his child learns practically all the concepts & thereby score good grades.They do not look for very high qualifications of a tutor (however basic qualifications are a must).
Q - Why behaviour is of paramount importance in teaching profession ?
A dominie has to make understand to his students, not to just make money by reading all the pages of a book. It might be possible that a student might not understand what the tutor explained for the first time . So, it is the duty of every master to make conceptually understand to all his students by giving different examples so as to make each & every concept of the curriculum crystal clear in their minds.
Different ways to succeed in coaching business :
1) Be a Path-breaker
2) Be a Path-follower
Path-breaker - A pedagogue can become successful in this business when he brings altogether novel curriculum for learning, new methodolgy of teaching, focuses on providing extra knowledge to the students which is not provided in school books. He should make learn students life lessons rather than text-book lessons.
Path-follower - A tutor can also become successful when he runs his coaching centre which gives knowledge that is already provided by others, however the quality should be far better than the rest.It means, he should focus on the following aspects : building concepts, taking tests, bring out the best out of every student, take exams,guide them in the proper direction.
Now let's look into the accounting & financial aspects of coaching business :
1) Revenues - The revenues for a coaching business will be the fees charged from the students.
Another positive aspect of a coaching business is you get fees at inception, that means a tutor can invest the proceeds received in the initial stage. Therefore, fees at end of the year will be much higher than actually received.
Path-follower - A tutor can also become successful when he runs his coaching centre which gives knowledge that is already provided by others, however the quality should be far better than the rest.It means, he should focus on the following aspects : building concepts, taking tests, bring out the best out of every student, take exams,guide them in the proper direction.
Now let's look into the accounting & financial aspects of coaching business :
1) Revenues - The revenues for a coaching business will be the fees charged from the students.
Another positive aspect of a coaching business is you get fees at inception, that means a tutor can invest the proceeds received in the initial stage. Therefore, fees at end of the year will be much higher than actually received.
Assumption : For higher standards, fees are collected in the beginning of the year.
2) Expenses- Expenses will be rent of the premises, maintenance expenses, electricity.It will always be advisable to take the premises on a rent for a coaching centre in the initial stages of the business.Other expenses include bringing markers, payment to teachers (in case teachers are hired) etc.
2) Expenses- Expenses will be rent of the premises, maintenance expenses, electricity.It will always be advisable to take the premises on a rent for a coaching centre in the initial stages of the business.Other expenses include bringing markers, payment to teachers (in case teachers are hired) etc.
3) Advertisement - "Mouth Publicity" is the best mode for advertising in this business. Because here, is the question of a child's future and parents always want to send their children to that place where instructors are cent per cent dedicated. So, parents would inquire hundred places before sending their children to learn.
4) Acquistion - This aspect we have read & heard only in case of listed entities. But who knows in the near future we might see same startegy adopted in case of unlisted entities. We might look in the coming years, acquisition of small successful coaching centres by a bigger player in the same field of business.
5) Pricing - If tutors are ready to show their dedication in teaching, parents will always be eager to pay for their children any amount asked by the coaching institute. Thus, the bargaining power will be more of an educational institute owner rather than parents.
6) Regulations - As of now, no regulations are present in the coaching field. However, there is a famous saying in the investment world " Never say never". Nowadays, talks are high to put regulations on facebook, we might see in future that price ceiling could be placed on coaching centres as well. That could act as negative for the industry as a whole.
Be it any business in the world : grocery, confectionary, electronics show-room,stationery etc. what is important is that an entreprenuer must have the will & desire to take the business to new heights, he must be foresighted and ready to solve the problems faced.
5) Pricing - If tutors are ready to show their dedication in teaching, parents will always be eager to pay for their children any amount asked by the coaching institute. Thus, the bargaining power will be more of an educational institute owner rather than parents.
6) Regulations - As of now, no regulations are present in the coaching field. However, there is a famous saying in the investment world " Never say never". Nowadays, talks are high to put regulations on facebook, we might see in future that price ceiling could be placed on coaching centres as well. That could act as negative for the industry as a whole.
Be it any business in the world : grocery, confectionary, electronics show-room,stationery etc. what is important is that an entreprenuer must have the will & desire to take the business to new heights, he must be foresighted and ready to solve the problems faced.
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