One of the things I like about my job is the many different things I get to do and the range of topics to which I am exposed. Yesterday, for instance, I taught the accounting and pricing portions of the ELAs Advanced Principles course. I always enjoy teaching these sessions for a number of reasons. First of all, I get to talk about accounting for leases, and what’s not to like about that? I think what really gives me the greatest pleasure of doing this class, however, is the educational atmosphere.
My training business has changed over the years, as everything does. One of the changes has been a shift away from the public seminar format to an almost exclusive use of private, or in-house, seminars. When we provide in-house training, we conduct the seminar for a specific company. The training, whatever the topic, is generally held at the client’s location and we tailor the material and presentation to their specific products, practices, and equipment types. The benefits to the customer, of course, are the customization, reduced travel costs, and other economies of scale. It works out pretty well for all involved.
The shortfall in the process is what I would describe as the inbred nature of the experience. While we bring excellent outside perspective, the cross-pollination that you get in a public forum is missing. Now, I am not bringing this up to plug public seminars, but for me, personally, the diversity in experience, function, market, ticket size, and company type is what I miss when conducting in-house training. It is the mix that I like so much about the ELA training classes that I do.
Yesterday, for instance, we had people from all aspects of the industry, including independents, captives, and bank lessors. The size, and, hence, product offerings of the participants was wide. A guy from a small bank in Highland Park sat next someone from Key who dealt with leveraged leases. There also was great diversity in the job descriptions and experience. Although wide-ranging leasing experience makes my job as instructor more difficult, it certainly adds spice to the conversations. What a surprise to have three people in the class with less than three months experience (and one with less than three weeks)! Sure, they may not have a good grasp of the nuances of the industry, but they also are not constrained by conventional wisdom (or lack, thereof), so they often think outside of the box. Some of the most insightful questions I receive come from these folks and really make me rethink and validate my views and perspective.
Ain’t diversity great?
Shawn, how do you determine charges for a private, in house seminar. Please give an example.
Posted by: Jay Zeinfeld | March 22, 2006 7:00 AM | Permalink to Comment