On investing in yourself and your team's skills
Updated: Dec 7, 2022
By Leander J. Opperman, UNLOK Consulting
When it comes to ongoing learning, I never try to save money.
On other things, sure, I try to save.
But never on education.
This is because I see it as an investment, not an expense in my P&L.
An investment in my ongoing education has excellent potential for return.
It gives me the highest return on any I can make, provided I play my part (which is why I mentioned potential.
Unlike other investments in financial markets, I control risk and reward variables.
I recently invested in sales coaching sessions.
Did it cost me something more than simply the amount I paid my coach?
Of course it did!
It cost me commitment and discipline to do the work and implement the learning.
And then convert the learning into actual sales.
Was it a good investment? Are you kidding me?
I recouped this investment within two months. Seven-fold.
It may have been a stroke of luck. Who knows?
Was it simple? Looking back, no, it was pretty hard!
I was certainly not a born salesman if there even is such a thing.
Was it an overnight fix to my sales woes? No.
It took patience and perseverance.
It also took consistent, daily effort.
Am I completely successful now that I have learned some sales skills? No way.
It's an ongoing process. I am constantly learning and improving.
I like this definition of "perseverance":
"Constancy in doing something despite difficulty or delay in achieving success."
Now let's take a look at your team:
You also control both risk and reward when investing in them.
You know the team members and what motivates them.
So, the risk is low and manageable.
(If you don't know what motivates your team, perhaps it's time to start getting to know them).
And, like investing in my ongoing education, the rewards of an investment in your team are potentially significant. Amongst others, things like:
Improved commitment to the firm.
What will you do?
A. Risk that they leave after you've invested in them?
B. Risk that they stay in your firm without investing in them and risk losing clients?
Think about it.