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Why Training Courses Are Vital for Business Owners, Not Just Employees

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You might have read information about the benefits of offering training to your employees. But business owners and directors need to undergo training too, perhaps even before they reach the point of hiring staff. As the head of your company, it’s important for you to lead by example and seek out education about how to run your business. Many new business owners try to learn everything on their own, picking things up as they go along. But often this isn’t an adequate method of learning. Of course, you can read literature and network with professionals, but attending a course or seminar gives you first-hand, up to date knowledge from experts.

If you think you could do with some extra training to improve your business skills, have a look at some of these vital skills that all business owners should learn.

Finance.

Most business owners, even if they only run a small business, hire an accountant to organize their accounts at the end of the year. While this is an excellent idea, it doesn’t mean that you can sit back and ignore your finances. It’s still vital for you to have a handle on your company’s cash flow and credit management. You also need to be able to maintain good relationships with your bank and your accountant.

Internal Control.

When you establish goals, ethics and objectives for your business, you need to have a way of ensuring they are carried out. By taking a course such as those provided by Risk Audit training courses, you can learn about internal control and how to implement it. It’s up to the whole company to manage internal control at some level, but the process starts at the top, with you.

Marketing.

Although you can hire someone to take over marketing when your business has developed, it’s likely that you’ll begin by doing the majority of it yourself. Marketing skills are some of the most essential for you to work on, including things like advertising, promotion and PR. Without marketing, your business will go nowhere. You should take a course that covers the basics of different marketing channels, before continuing your education as you grow your company.

Sales.

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Next to marketing, sales skills are just as important for making a profit. If you take a course in sales, you’ll cover topics including pricing, negotiating, presentation skills, customer service, and tracking competitors. A course run by an expert salesperson can help you to gain the latest insights into the practice and hone your skills so you can pass your knowledge to future employees. Some people have a natural gift for sales, but it’s always a good idea to learn professional techniques.

Personnel.

Unless you want to remain a small company, with just you and perhaps one other person running it, you’re going to need staff. Larger businesses will have HR personnel who can manage the recruitment process, among other employee duties. But as a small business, the likes of hiring, firing and training management will fall to you. Dealing with staff in a professional manner isn’t always easy, so take a course to make sure you’re doing everything properly.

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Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

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