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Training provider boiler room scams

5th Aug 2010
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I have recently been looking at the statistics on boiler room fraud which is quite astounding. It is estimated that £10bn in the UK alone is scammed from individuals and companies by this practice.

It consists the selling of worthless shares to people at inflated prices and pocketing the money. This is generally carried out by con tricksters who have no real financial experience other than to con people out of money and deliver nothing.
Unfortunately, the training industry is starting to emulate this practice and unwitting training purchasers are still falling for the same old con.
We have leadership trainers who have never led, Management Trainers who have never managed, Sales Trainers who have never sold and on it goes. Some think that reading a book or two is enough and the core training skills will carry them through, and in many cases, they get away with it on the principle that as long as the delegate ‘victims’ are kept entertained and good feedback is received, that is enough.
We see numerous websites, some listed on training zone with trainers offering such a wide range of courses, that it beggars belief.
As well as the UK, I train internationally and although I see much worse elsewhere, the UK has its problems in this regard.
Unfortunately, the training manager who has to commission training on a very tight budget can be tempted by these cheap and cheerful alternatives.
So trainer purchasers, please beware. Decide if you want an ‘entertrainer’ or an experienced professional with an in depth knowledge of the subject before you commission your programmes.
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Blake Henegan Optimus Learning Services
By blakehenegan
09th Aug 2010 12:42

Very wise words indeed. 

We will only put forward trainers to clients who have actual work experience in that area i.e.  the sales trainers we recommend have got a background of successful sales prior to becoming a trainer. 

On the flip side I imagine that in these recent times it has been harder for freelance trainers to get enough work so are offering to do training in areas they are not fully experienced in just to get some work in.  However the trainers I know who have done that have regretted it as they've not been able to deliver the high standard their clients expect and its had an impact on them.  As soon as they stuck to their core subject areas and promoted these subjects only the work has increased.

 

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By Rus Slater
12th Aug 2010 13:58

"We have leadership trainers who have never led, Management Trainers who have never managed, Sales Trainers who have never sold and on it goes."

 

But wait.... we also have geography teachers who have never travelled, drama teachers who aren't actors, art teachers who have never made a living as painters/sculptors, history teachers who are under 30.....the list goes on. We have university Business Studies lecturers and MBA professors who have never run a business and worseof all we have Ministers of Trade and Industry who have never traded or worked in industry and Ministers of Defence who have never served in the military.

Let us unite* to ensure that no one who has not reached a high standard as a practitioner can ever be allowed to teach, train or advise on their chosen subject.

*but the question is who is going to be qualified to say who is qualified to unite with us?

 

Rus

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