Question 1: Why is business training, for anyone in business or thinking about going into business?
The success rate for business isn’t good, in fact it’s horrible. In excess of 80% of businesses fail in the first five years, and the reason is fundamentally based around lack of skills. If business owners new what they didn’t know, the statistic would be dramatically different. But it’s not going to change anytime soon, because people that go into business, believe they’ll work it out, want to discover it for themselves, but unfortunately that can often take years and years, before you work it out, and in particular work out where the gaps are, and what you need, but even still, too many never get to that point.
Many small businesses (or even larger) have a tendency to take at least 2 to 3 years, to get to a basic income point, (often less than a job) but keep plodding on anyway. It’s even more than just planning. A plan is good, but there's no point without a strategy, and a review process to ensure you’re on track.
It’s often little to do with the thing you do, and more to do with everything else. Most businesses believe they have the best “thing” (whatever it is) and that’s great, but what if everyone else doesn’t share that belief, and that’s generally, what’s most common. Everything else about the business is the reason customer get interested, come back, and buy more, and refer others. The standout point, the marketing, the sales and the service are keys, but most don’t have even the fundamental skills, to start, let alone grow.
The difference between knowing and not knowing, could be $50,000, $100,000, $250,000 more (and even more) in net profit. (Hey, most businesses don’t know the difference either)!
The reason why business training and skills development is so important, is simple. Get your business more profitable, faster, and easier. Don’t wait. The cost of waiting is huge. The cost (or investment) in skills, is small!