Professional development and the opportunity to learn and grow is very important for the small business owner. Learning best practices will assist owners, managers and individual contributors understand what is happening not only in their industry but in other industries as well. The cross-transfer of technology and new management practices and techniques assist the business owner in trying out new and innovative programs at work. Professional development and training programs should focus on two key training strategies:
Business, Revenue and Sales Growth Training
Creating a high performance work environment will allow you and your employees to make the transition from selling a product or service to selling a solution. The value of making this transition will ensure that sales practices and processes are consistent yet meet the needs of the customer. For small business the “sales” component is typically the most important component. Attracting new business as well as retaining current customers are key to one’s success. Furthermore, retaining your skilled in-house talent is critical for the company and the culture. There are many local resources for business owners to learn new skills that can increase the bottom line. These resources focus on assisting new as well as seasoned business owners in a variety of industries include manufacturing, retail, and general management.
Employee Satisfaction & Loyalty
An increase in employee loyalty can also boost profits and productivity. Research has shown that satisfied employees lead to greater profitability and growth. Allocating training dollars can also reduce turnover, improve product knowledge and diagnose any performance issues of key employees. Creating a high performance culture of learning will identify the strengths and weaknesses of the individual. Small businesses today want to understand how they can secure more creativity and support from their employees. On-going training will allow for business owners to determine how to execute the best strategy from the employee’s perspective by enriching their jobs and assisting them with fine-tuning their skills.
As small business owners it is very important that you remain current and up to date to ensure that you are managing your business and people properly.