5 Reasons Why Training Matters

 

When it comes to cutting costs in your business, you may decide to skimp on training. This is to your detriment. Training matters, for both you and the people who work with you. Here are five reasons why you need to make it a priority.

  1. You will build up your skill set

This is a no-brainer, of course, but this is the main reason why training needs to be high on your agenda. To do your job well, you need to look for the training courses that will improve your skill set, and help you overcome any weaknesses you may have. From learning IT skills with Visio training classes and other aspects of Microsoft Office to taking public speaking classes to help you with your business presentations, consider what training will be relevant to you and your team.

  1. You won’t need to outsource

You will be less reliant on outsourced help if you and your team are better equipped to carry out daily business tasks. Having covered any skill gaps, you won’t have to pay others to do the relevant jobs for you. While training can be expensive, it is cheaper in the long run when you aren’t reliant on hiring the services of others.

  1. You will increase productivity

Being better at your job means you will get work done more efficiently and to a better quality. There will be less need to correct mistakes, and you will have more time to deal with all the other tasks that befit your day. And the same is true of your team. Training will improve both their morale and competence, improving their productivity throughout the day. Again, this means your profits will increase, despite the expense of training at the outset. There will be less need to supervise your staff too, so both you and your team will be able to work without the need for management interruptions.

 

  1. You will enhance your business reputation

Want to beat your business rivals? Then fly the banner of your accreditations across your website and promotional materials. Being able to boast your credentials because of the training and qualifications you have received, you will earn the trust of customers, clients, and your investors.

 

  1. There is less risk of business failure

 

The risk of business failure is high, especially for newer startups, but training will reduce those risks. Not only will skill levels and productivity be enhanced, but there is the benefit of staying current too. By committing to training on a regular basis, you will stay up to date with new and emerging technologies, and will have a better understanding of newer business methods, such as the latest marketing trends. There will be less chance of falling behind the competition, which is one of the reasons why many businesses are sadly forced to close their doors.

 

Finally

 

Training matters, and we hope we have shown you why. You ignore it at your peril, so when working out your business expenses for the next quarter, factor in the relevant training as a priority. Both your business and the people who rely on your business will benefit as a result.

 

5 Ways To Diversify Your Income

 

 

When it comes to money, you can never have enough. Of course, you get those glorious people that always feel so content with what they have. While they may seem strange and insane to those of us that always need a little income boost, wouldn’t it be great to be in that position too? The best thing is, you can be. You just have to get smart about it. Whether you’re employed and work full-time in a company, you work from home, or you fall somewhere in-between, you can quite easily diversify your income in any way that you’d like. You just need to know what your options are. So if this sounds interesting to you and you’re interested in earning more each month, here’s what you can do.

 

  1. Create A Blog

First of all, you could create a blog. Now, this is something that so many people do – but it works. Here, you’d be looking to create content based around a topic that you either love or know lots about. It can seem quite intense, but it’s a great way to make sure that you’re able to keep this up. When you’re creating content, you can then look to earn money via advertising revenue. So start writing, get your site set up, and promote away!

 

  1. Create Products

The next thing to do would be to create some products that you can sell. Now, don’t worry too much, because you won’t have to start knitting or hammering away. Here we’re talking about information products, so things like downloadable eBooks or even courses online. Even if you think that you have no idea how to do this right now, you can learn. And the best part is, you only need to create one product and then watch your sales stack up over time.

 

  1. Join Affiliate Campaigns

Then, you’ve also got affiliate marketing that you can earn money with. This is something that you can do as a blogger, and earn money from via your blog. But you can also do it without blogging. Maybe you want to create a specific content site or you just want to be present on social media? Then you can still make money by recommending products and then earning a commission of any sale that you make.

 

  1. Start Trading

If you want to try something different, there’s also trading. Now, for this, you’ll want to start off slow. Find a platform, like CMC Markets, and invest a small amount and carefully. Make sure that you read up about online trading and stocks before you start, just to make sure you earn, not lose.

 

  1. Buy And Sell

Then, you’ve also got the option of buying and selling different things. Here, you’ve got a few options. You could look to hunt through flea markets or garage sales for things that you know you can then sell to make a profit. But then, you could also look to buy products from a wholesaler like Alibaba, and then sell them online to make a profit. Either way, buying and selling items can give you an additional source of income.

 

Why I want Customer Success as a Business Owner

I am a business owner! That seem strange to say but it is true. Now to be completely transparent I have owned lots of businesses. However they have all been multi-level marketing businesses. They are definitely legitimate businesses, but the best part about them is you can “own” your business without the hassles and headaches of actually “owning” your business. You don’t have to get a business license, or a zoning license, or deal with a board of directors or partners. You don’t have to figure out how to pay yourself, how to assess profit margins, or deal with product development or patents. You simply have to sign up, sell a product and receive a commission. So basically it is similar to being a salesperson at any commission based business. So while their are differences you still do have a customer base like a traditional business.

But now I have a traditional business. I opened a mobile spa business this year! EEK, I was suddenly thrust into the world of inventory, buying equipment, overhead, licenses, taxes, and clients (customers). And even more than my Network Marketing businesses I WANT my clients to have success in their dealings with me and be happy. A happy customer is a returning customer.

So that led me to learning more about customer success. What it is and what it means.

I think the first thing to learn is how to be a Customer centric business.  Once you have done that successfully your next focus should be how to onboard your customers well, so they have success when buying from you or using your services.

Lincoln Murphy, a well known customer success consultant defines successful onboarding in this way: “The way that I define onboarded is this: The user or the customer, depending on what you’re measuring, is either getting value from their use of the product or the consumption of your service, or, for the first time outside of sales and marketing, they see the value potential in their relationship with you.” That is what business owners should ultimately want (in my opinion). Customers that are  gaining a value from your product or service and seeing a value in a continued relationship with your company, service or product. It is not of value to say that just because a customer has been with you and in your system for x amount of time they have been successfully onboarded. If they don’t find a value with your company they will move on to another. Consumers can be fickle and you want to keep them as a customer of your business, not moving on to another one.

With this viewpoint in mind, customer success is VITAL! After all, according to User IQ, “Acquiring new customers is up to 25 times more expensive than retaining existing ones.” So business owners need to focus on retaining the customers they already have. User IQ has an answer for you! This article about customer success explains what customer success is, why it is important, how to develop a customer success strategy, and more!

As a new business owner who is actively cultivating clientele for my business this is very important information for me. I also think the information in the User IQ article can help all business owners improve their customer success and therefore customer retention and sales! Definitely check it out!