Dinosaurs Don’t Pivot. They die.
Change. It can be a daunting thought. We shut down when we even think it is on the rise. But if Covid taught us anything, it is that we must pivot and we are stronger than we think. Many of us learned new methods, technology, communication styles, and resilience. How to change? We discussed it in the video we shared this month. But, we did not go into a lot of detail.
For clarity, here is a full list of questions you might want to ask your team.
What should you change?
What would make a difference in everything you do?
Can you out perform revenue projections if?
If what?
University Leaders who learn to finish that final sentence, and have the courage to execute, are making a difference. Rally your mentors, advocates, and diverse thinkers to brainstorm opportunities. We’ve developed a short list of some examples of recent attempts to pivot, expand, minimize expenses and generate revenue to get you started. They are:
Add that academic program that you know will enroll students
Add a sport or two (esports?)
Expand and serve graduate students
Add Early College
Add Doctoral Programs
Keep some programs on-line
Add a campus (build it and they will come)
Eliminate a campus
Acquire another college
Merge with a college
Combine two departments (Student Services and Enrollment, Marketing and Enrollment)
Eliminate a poor performing major(s), or program
Sell a building, rent space; especially on week-ends
Rent out the ground floor of a bldg. to select offices (Starbucks, USPS, Cantinas, Diners, Eateries, Grocery Stores, business supply stores, florist, salons) that enhance student access
Add Food Truck Friday; save on dining hall expenses on days when student traffic is slower
Rent out conference space with an executive planner. One big conference or a wedding will cover the budget for the planner position
Leverage financial aid; disrupt what you think you know
Out-source everything you can
Partner with Community Colleges, and independent schools with direct, guaranteed enrollment and pathways to graduation
Add more on-line certificate or short programs with digital badges; target senior citizens with technology; “Just How to Zoom” could have increased your revenue pre-covid.
And lastly, disrupt the mission, add something completely unconventional to the list. I don’t know like maybe the recent release of Hokie Lager Beer, labeled through Virginia Tech? Get creative.
Unsettling? Then you are not ready. Intriguing? Go for it. Change is the inevitable answer to succeed in the future in Higher Education. You know what you need to do. Go!