As an entrepreneur, you need to say focused on getting your business to the next level. That means acting as the chief cheerleader who keeps everyone motivated. But a business’s success also depends on providing the training that keeps your company growing and sales strong.
Start with a Skills Inventory
If you are a young company with a great concept, product or idea, chances are that you have a lot of enthusiasm working for you. That can help you attract your first customers and get off to a good start. But to keep growing after that encouraging start-up phase, you need skilled individuals in your company who can do a great job at handling some or all of the following functions:
Systems – As your company grows, so will the complexity and sophistication of the systems you use. Even small retail enterprises today have sophisticated systems that can include point-of-sale systems, inventory tracking, and other tech tools that require specific skills to use.
Sales – Even though you have started selling to a group of first customers, you will need to keep getting more of them if you are to grow. You need to have people who know how to sell.
Marketing and advertising – Don’t confuse these functions with sales. Marketing and advertising generate inquiries from potential customers, who you will then either sell to directly (if direct-to-consumer sales are central to your business) or move into your sales “funnel,” where your salespeople will turn them into buyers. Key marketing and advertising skills today fall into the areas of classic marketing (direct mail, cold calling for lead generation, ads in print publications, radio and television advertising) and new technology-based skills (social media marketing, website optimization, email marketing, and many more). To grow, you need people in your company who can do it all capably.
Customer service – Even if your company will not sell direct to consumers, you will need everyone in your organization to know the basics of satisfying customers. Every company has customers, whether they are called that or not. They will be putting reviews online about you, and you need to please them.
Technology – In their early stages, many companies outsource functions like cybersecurity protection, website design and maintenance, as well as basic functionalities like setting up company Wi-Fi and computer networks. When those companies have grown to a certain level of profitability, it can make more financial sense to hire internal employees who can handle them.
Accounting and HR – Every company needs accounting services. If your company has employees, or plans on hiring them, you will need HR capabilities too. As is the case with technology, it might make sense to outsource those functions in your early stages of growth. But as you grow and become more profitable, it might become a good decision to hire staff that can handle them.
Finance – This is not the same as accounting. It means, in essence, balancing the books while monitoring expenses and income. Managing the finances of any company, even a new one, is complex. Either you or some very capable people in your organization need the skills to balance income against outlays like rent, cost of goods and necessary equipment, payroll, insurance, utilities, and more.
Don’t Cut Corners
Your small, growing company might not need people who can perform that full list of functions. However, it can be unwise to overlook their importance until too late. (If you suddenly are not handling key functions capably, you have probably failed to plan.)
Smart entrepreneurs don’t do that. They consider the bigger picture early on and employ people who have the skills to run a successful enterprise.
How Do You Develop Those Capabilities? You Hire the Right People and Train Them
You should always look to hire individuals who already have the right attitude. If they have the necessary experience and skills that is awesome.
But whether you hire people that are experienced in your business or not, you will still need to train people. And as your company succeeds and grows, you will need to continue training them to take on a growing number of functions.
Here are some ways to get the best results from training within the budgetary constraints of a startup:
- Onboarding training should be part of your plans. It is possible in some companies to hire an employee and to let other employees teach him how to do his job. That might seem like a way to trim training costs, but in most cases, specific training experiences during onboarding get new hires up to speed and earning money for your company faster.
- Training should be role-based, meaning that it should identify specific jobs and teach employees how to do them. In a fast food setting, for example, there are cashiers, food preparers, back-of-store personnel and more, each role requiring a different set of skills.
- Training can be tailored to be effective. We live in a time when technology allows you to purchase ready-to-go training programs – some literally “out of the box.” Plus, a lot of training can be delivered directly to smartphones, allowing ease of access and availability.
- Training should stress customer service, because customer service is what enables companies to grow.
- Training aids can reinforce learning. Even though you trained employees to operate your modern cash registers or speak with customers on the phone, you can post inexpensive signs that explain the steps to follow. In your small and growing company, training aids can quickly increase the ROI you get for every training dollar you spend.
