For business startups that are struggling with the challenges associated with expansion, a learning management system (LMS) can be their silver bullet. In this article, you’ll learn how using online learning software can help you grow your startup against all the odds.
But first, let’s take a look at some of the challenges fast-growing businesses usually face.
Challenges with Startup Growth
When you launch any business after surpassing numerous hindrances, nothing can beat the feeling you get when you watch it grow and expand over some time. However, the quick business growth often brings with it specific challenges in terms of introducing new products/services, handling bigger teams, making alterations in the workplace culture, and more.
How you train your employees has a significant role to play in supporting your quickly expanding business. It can help you overcome all these challenges and acclimatize to the dynamic corporate environment.
Developing an eLearning strategy for your startup needs careful evaluation of learning requirements and necessary resources. Other than creating online courses from scratch, there are also limitations in terms of time, cost, and infrastructure. On top of it, you have to cater to the dynamic needs of the new-age workforce.
It is why an increasing number of companies today are using eLearning software and learning management systems to impart corporate training. These online learning tools help companies quickly develop and deliver course content, which saves them the time and cost of arranging face-to-face training sessions.
Ways to Use a Learning Management System for Startup Growth
Keeping in mind all the challenges you might face in developing a corporate training program for your fast-growing startup, we’ve compiled a few tips on how using a learning management system can facilitate you.
1. Seamless and simple course creation
When you’re growing your startup, your hands are already full with loads of work. And, creating online courses for your employees can be a stressful and time-consuming experience. It is where a learning management system steps in.
An LMS allows you to seamlessly create and manage online courses with just a few clicks. Equipped with an intuitive interface and drag-and-drop functionality, it consolidates all your training resources in a specialized way, without too many technical skills. All this makes it an excellent eLearning hub that offers an indispensable set of features to facilitate resourceful training and learning.
2. Online course selling
Did you know your LMS can help you earn big money for your startup? By promoting and selling the courses built around your expertise, you can generate an extra stream of funds for your business.
An LMS allows you to share your e-courses quickly and safely with the buyers, all within the same platform. You’ll find plenty of options to market and sell your courses online. And, many commercially available LMS support accepting payments via PayPal, Stripe, and more.
By white labeling all your courses (such as by adding a logo and keeping a particular font or color scheme), you can also add branding to your training content.
3. Robust reporting for compliance
You’d not want your startup to face any compliance issues, would you?
By offering robust reporting based on formats acceptable by some of the renowned compliance regulatory bodies all over the world, an LMS can help you keep track of your learners’ progress in real-time. It also enables you to identify the type of content that works best and ways you can refine your courses so that you can stay ahead in your industry.
4. Personalized training
By using an LMS, you can offer personalized or customized training that helps trainees experience ‘learning’ the way they want. It enables you to design and develop courses in such a way that the instructional approach and the learning pace adjusted as per the requirements of individual trainees.
Employing personalized online training in a dynamic business environment lets you comprehend particular learning requirements and then develop training measures according to your employees’ interest and convenience.
5. Flexible and microlearning
Microlearning is a proven game-changer in providing corporate training in a quickly expanding startup. Bite-sized training has turned out to be a vital training asset and is being swiftly implemented by companies that have little time to train their workforce. It can include scenario-based learning, gamification, short videos, or any content that can be delivered within 5 to 10 minutes so that employees can easily access them on the go, from any device.
By embracing microlearning, you can successfully engage and improve retention rates of even the highly impatient millennial and post-millennial employees of your startup.
When expanding your business, it’s critical to carefully implement an online learning strategy so that all your employees stay abreast of the changing industry trends and practices. By using a learning management system, you can offer customized and practical training to ensure sustainable startup growth.