Partnering to Perfection
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As colleges and universities are finding it increasingly necessary to develop new revenue streams, shared expertise and engaging other institutions as potential partners, not just competitors, will benefit not only the partners but will result in better programs and services for students. This presentation looks at how to: • Structure a partnership that capitalizes on your strengths and compensates for weaknesses • Create a structure so there is a clear understanding of responsibilities • Set measurable deliverables so everyone is held accountable • Understand what a good partnership should include from a financial perspective By turning conventional wisdom on its head and sharing institutional resources and expertise, this arrangement can be a future model for innovative thinking on how to generate revenue through different partnership agreements.
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Partnering to Perfection
- 1. The Leaders in Professional, Continuing, and Online Education 1www.upcea.edu Partnering to Perfection MARSHA HAM, UNIVERSITY OF NEW HAVEN SUSAN KRYCZKA, EXCELSIOR COLLEGE NICOLE FOERSCHLER HORN, JMH CONSULTING
- 2. The Leaders in Professional, Continuing, and Online Education 2www.upcea.edu 71% of college/universities offer online courses 6.7 million students took courses in 2011 More Competition in the space
- 3. The Leaders in Professional, Continuing, and Online Education 3www.upcea.edu The UNH-ESE-JMH Partnership JMH ESE UNH Institutional Operation Management Instructional Design & Project Management Lead Generation Enrollment Management
- 4. The Leaders in Professional, Continuing, and Online Education 4www.upcea.edu Are you ready?
- 5. The Leaders in Professional, Continuing, and Online Education 5www.upcea.edu Partnership vs. Alone • Alone = Staff and time investment • Partner = Handle some or many pieces
- 6. The Leaders in Professional, Continuing, and Online Education 6www.upcea.edu Partnership Benefits • Faster time to launch • Mitigated risk • Increased staff and capability • Potential to learn from partner
- 7. The Leaders in Professional, Continuing, and Online Education 7www.upcea.edu Partnership Risks • Less money • Less control
- 8. The Leaders in Professional, Continuing, and Online Education 8www.upcea.edu Making Cents of Your Options • Discuss the business plan requirements • Determine market viability and growth potential • Understand how curriculum must meet needs of industry
- 9. The Leaders in Professional, Continuing, and Online Education 9www.upcea.edu Choosing Your Partner Finding the “right fit” • “Black Box” model • Partnership model • Fee for service model
- 10. The Leaders in Professional, Continuing, and Online Education 10www.upcea.edu Smart Partnerships • Interview your partner • Is there alignment with your goals? • How does your partnership complement your strengths & weaknesses?
- 11. The Leaders in Professional, Continuing, and Online Education 11www.upcea.edu Structuring the Agreement • Clarify responsibilities • Examine the benefits of revenue share versus flat fee • Build in accountability
- 12. The Leaders in Professional, Continuing, and Online Education 12www.upcea.edu Exit Strategy • What happens to your students? • Who owns the processes? • Who owns the marketing? • What happens if things go south?
- 13. The Leaders in Professional, Continuing, and Online Education 15www.upcea.edu Making it Work
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- Introducing ourselves and talking about our goals We’re going to talk about what we learned and give some best practices that you can apply We want to share what our experiences have been so we can provide insights that might be helpful to you.
- SUSAN’s Slide The number of students taking at least one online course in the United States continues to increase with 6.7 million taking courses in 2011 or 32%. Seventy-one percent of colleges and universities have some form of online learning. Lots of schools who aren’t in it want to be, those who are want to expand their market share. That’s a lot of competition. How to get the resources to start or expand?
- MARSHA’S SLIDE You already are considering a partner b/c you’re here. How many of you have a partner? For those who didn’t raise your hand, are you in the process of identifying a partner? What UNH considered on the frontend of deciding whether to partner. . . Was there support from the top down? Who needed to be involved in the planning conversation? Who would take the lead? What is in it for each of the vested groups? Where would there be push back, if any? Was there potential for revenue sharing back to the colleges & departments? Was there potential for additional support for internal departments?
- MARSHA’S SLIDE- REVIEW THE CHOICE WE FACE WHEN GOING ONLINE Go it alone by investing entirely in the staff, faculty, infrastructure, marketing, etc.) Get a partner to handle one part, some or all of the pieces. Assess the reality of going it along, especially when it comes to marketing and enrollment management. Decide internally what you can do short term and long term, the in vestment required, and what vendors can provide the rest.
- MARSHA’S SLIDE - PARTNERS ARE NOT SUPERHEROES, BUT THEY CAN HELP Faster time to launch Less time investment Mitigated risk Increased staff and capability Potential to learn from partner
- SUSAN’S SLIDE Less money if successful Less control throughout the partnership Maintaining the university brand and experience
- MARSHA WITH SUSAN’S INPUT Discuss the business plan requirements Have you researched the program/s for market viability for scalable growth? Understanding of how curriculum must meet needs of industry Who will conduct the research? Within the institution or by the partner?
- Question – For those of you who have a partner, what were you looking for in a partner? MARSHA – WITH NICOLE AND SUSAN CHIMING IN Determine the cultural fit “Black box” model Partnership model How involved do you want your partner to be
- MARSHA – WITH NICOLE AND SUSAN CHIMING IN Interview your partners - Is it the “right sized” fit? Are you too big or too small to receive the appropriate amount of attention from your partner? Mission/Goal Alignment What are your top 3 goals? Does this align with your partner’s goals? What are your strengths and weaknesses; where do you need a partner and where do you have internal resources
- NICOLE SLIDE – MARSHA AND SUSAN CHIME IN Clarify responsibilities to compensate for weaknesses and build on strengths Examine the risks and benefits of a revenue share vs. flat fee Compensation based on control Build in accountability
- MARSHA AND SUSAN What’s the exit strategy? – Set the exit strategy when things are going well What happens to your students? Who owns the processes? Who owns the marketing? What happens if things go south?
- MARSHA’S SLIDE – Nicole chimes in Making sure you have the informational flow set up Measuring the activities – managing the data (set up data tracking early) Set expectations and goals from the beginning Make sure everyone is on the same page The process of reaching the goal should be transparent That’s why measuring is important
- MARSHA – Meeting, meetings and more meetings Operational and logistical planning Who takes the lead internally at the logistical level? Curriculum/Calendar planning Instructional design Starts per year Marketing planning Recruitment to matriculation Retention activities
- What worked well with the launch? What needs tweaking? How can we maximize what was learned for the next launch? How are the internal service departments handling the flow of new students What additional adjustments need to be made to provide high level of student/customer services in a rapid turnaround? What each partner brought to the relationship Excelsior College/ESE-expertise online, instructional designers, vendor management UNH-academic programs JMH-enrollment management and marketing