Table - Example revenue streams and ranking Alignment Potential Risk Rank to strategy revenue (1= low, 2= (1 = <20% of (1 = high, 2 = (Add 3 Potential revenue stream med, 3= high) gap, 2 = med, 3 = low) scores) 50% of gap, 3 = 50-100% of gap) Securing grants 1 3 3 7 Attracting students from outside the 2 1 3 6 cluster Attracting adult students 3 2 1 6 Designing and delivering training for third 3 1 2 6 parties (e.g. for AGA) Providing training to industry partner 2 3 1 6 employees Allowing RTOs to use the facility (or 1 1 3 5 delivering courses on their behalf) Allowing GTOs to use the facility (or 1 1 3 5 delivering courses on their behalf) Securing sponsorships 1 1 3 5 Allowing private businesses to use the facility (e.g. hire or licence 1 1 2 4 agreement) Hosting one-off or repeat events for 1 1 2 4 community organisations Selling products produced at the TTC 1 1 1 3 Allowing TAFEs to use the facility (or 1 1 1 3 delivering courses on their behalf) Allowing CAEs to use the facility (or 1 1 1 3 delivering courses on their behalf) Note: All scores are examples only Developing a marketing strategy to win revenue streams A revenue target should appear in the TTC strategy along with brief descriptions of the initiatives that will contribute to achieving the target. Initiatives to achieve the revenue target may range from increasing enrolments to establishing completely new revenue streams. All these initiatives will require effort and most of them will require a marketing effort. Marketing is a key tool when pursuing new revenue and is based on two central ideas:
Table - Example revenue streams and ranking Potential revenue stream Alignment to strategy (1= low, 2= med, 3= high) Potential revenue (1 = <20% of gap, 2 = of gap, 3 = 50-100% of gap) Risk (1 = high, 2 = med, 3 = low) Rank (Add 3 scores) Securing grants 1 3 3 7 Attracting students from outside the cluster 2 1 3 6 Attracting adult students 3 2 1 6 Designing and delivering training for third parties (e.g. for AGA) 3 1 2 6 Providing training to industry partner employees 2 3 1 6 Allowing RTOs to use the facility (or delivering courses on their behalf) 1 1 3 5 Allowing GTOs to use the facility (or delivering courses on their behalf) 1 1 3 5 Securing sponsorships 1 1 3 5 Allowing private businesses to use the facility (e.g. hire or licence agreement) 1 1 2 4 Hosting one-off or repeat events for community organisations 1 1 2 4 Selling products produced at the TTC 1 1 1 3 Allowing TAFEs to use the facility (or delivering courses on their behalf) 1 1 1 3 Allowing CAEs to use the facility (or delivering courses on their behalf) 1 1 1 3 Note: All scores are examples only Developing a marketing strategy to win revenue streams A revenue target should appear in the TTC strategy along with brief descriptions of the initiatives that will contribute to achieving the target. Initiatives to achieve the revenue target may range from increasing enrolments to establishing completely new revenue streams. All these initiatives will require effort and most of them will require a marketing effort. Marketing is a key tool when pursuing new revenue and is based on two central ideas: 50%