As the famous baseball player and coach, Yogi Berra, once said once said, “It’s tough to make predictions, especially about the future.” But it’s even tougher when you don’t know what you don’t know, which is why training is so important, not just for your staff, but for owners too. How do we know that this is the case with our business? We know it when growth plateaus, when our own ideas and strategies have been exhausted.
Every dollar you spend in training yourself and your team will return 20-200 times your investment annually. Considering that and ask yourself “when was the last time I truly set aside time for training” and “do I know what it is that my team and I need training in?”
Looking at what your best competitors do can give you clues, but while they aren’t about to tell you how they did it, they show you what is possible.
Have a look at all your processes – do you have a system of measurement for everything that you do? For example, what’s your enquiry to conversion-to-sale ratio? And what’s your add-on sales ratio per number of transactions?
If you don’t have the processes in place to measure your business activities, you won’t be able to measure their effectiveness. And if you don’t measure their effectiveness, you won’t be able to pinpoint the areas where training is needed.
When you put these measures in place, you start to learn what it is you don’t know. This won’t necessarily tell you the answers, but it will tell you what questions you need to ask, and what training you need.
These measures also enable you to predict your business’ future, unlike financial reports which just tell you what happened in the last month or even year. For example, if you can see where all your enquiries are coming from, and their progress through your sales pipeline, it’s relatively simple to predict what is going to happen in the coming months and what actions you need to take if that doesn’t meet your desired outcomes.
If you are serious about building your business, an investment in training, especially the investment of time needed to train, is a must. Plan and schedule the time required now, and start reaping the rewards you deserve.
You can discover all my zero cost training here, and during this enforced downturn, there has never been a better time to learn about your unknown unknowns.
May Your Business Be – As You Plan It.
Dr Greg Chapman – The Profit Whisperer
Learn more about how these marketing strategies would work in your business when you request a Free Preview copy of the best selling Small Business book; The Five Pillars of Guaranteed Business Success
Or find out how to directly apply and implement these strategies into your business and achieve your goals by requesting a Complimentary Business Evaluation now.