Back to School: Does Self-improvement Have A Place In Your Business Plan?

Back to School

School’s back in, and this month we’re thinking about how education is important not just for children and young adults, but for all of us – whether we are just starting our own business, or reaping the rewards of a lucrative career.

Your business doesn’t exist in a vacuum – your business is you, especially if you’re working alone. And of course, you’re working hard on your business every day, and it’s built on your ideas, so you know this better than anyone. You know that when you thrive, your business thrives too. And while you may be doing plenty of research and learning now while you’re just getting started, you will want to continue that momentum throughout the lifetime of your business. That’s why it’s a good idea to consider how you might continue to develop your skills and knowledge over the coming months or even years, to ensure you are in the best possible position to run your business. To that end, you may want to talk a little about this in your business plan.

How can training help you run your business?

If you are operating within a highly technical industry, you will understand the importance of keeping up to date with the latest trends in order to remain competitive within your market. Naturally, some businesses will have a larger element of this than others, but many industries change over time, as do the needs of their target markets. Knowing what new products are on the market, learning how to create something new, and discovering a new skill that you can use to enhance your offering, can all help you to stay ahead of the curve.

What training will your employees need?

If you have employees, you’ll also need to think about how you are going to get the best out of them and what kind of training requirements they may have in the future. What skills will your staff need when they first start working for you, and how might they need to hone these skills further, later on? You don’t need to go into great detail about this in your business plan, but it always helps to look ahead. And being dedicated to developing your employees and helping them to improve and gain new skills, is great for morale and will encourage people to stick around.

How can self-development help you to fulfil your goals?

Think about your business’s mission and goals, and perhaps even what you will want to accomplish after you have achieved those. What knowledge and skills will you need? For example, if your goal is to move from being a sole trader to running your own company with employees, a management training course may be a logical step if you have no previous experience of leadership.

If you’re going it alone, you could benefit from training in a range of disciplines. For example, if you’re a great sales person but you’re not very internet savvy, you might want to brush up on your online marketing skills so that you can use tools such as social media and online advertising to your advantage. Or you might be great with the online world but struggle with presentations – a public speaking course could give you more confidence when you need to make sales pitches.

An investment in yourself is an investment in the future of your business. Your business plan is a great place to start when thinking about the training and personal development you may need in order to achieve success. If you would like some help with writing your business plan, contact cbm online using the form on the right, or call 01604 420 420.

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