Training - Is it an Expense or an Investment? - 130

Training - Is it an Expense or an Investment? CFO asks "what if we train our people and they leave?"  Someone else asks "What if we don't train them, and they stay?" - this story/set of quotes has been uttered so many times, I'm not sure who we should attribute it to. This week on the Catalyst Sale Podcast we discuss the question - Is Training an Investment or an Expense?  We also discuss how to handle the objection if the person you are working with holds a different opinion. Thank you for sharing the Catalyst Sale Podcast with a colleague.  Please let us know how you apply the concepts discussed in this episode, via twitter, facebook or LinkedIn. Questions Addressed Is Training an Investment or an Expense? If it is an investment and not an expense, how can we convince a decision maker that it is an investment? How can we avoid checking the box? From a trainers perspective, how do you help people with this question? Key Takeaways Investment vs Expense - Depends on where you sit in the organization? Simmons - "Always look at training as an investment" Training should move the organization forward If I'm not leading the team or engaged in the activities that impact the business, I may look at training as an expense Bad training is an expense - Think about how much time people spend in bad training. How Do You Overcome the Investment vs Expense Challenge? Get to the business impact Define what will you measure Establish your KPIs Define what will the training do Clarify how we will measure success Training is an investment - Some investments pay off, some do not. Timing - how long will it take to make an impact? Take a data-oriented approach. Know what matters to the decision maker. Will this thing change behavior? Know the desired business outcomes Invest in things that move the organization forward. Catalyst Process Interview - Gather Data from Multiple Perspectives Establish the Current state Clarify the Desired state Assess Gaps - People, Technology, Process Design the Solution Inside the organizations, we work with, our approach and our delivery are personalized and contextual. Sometimes a custom approach is not worth it. Maybe and 80/20 approach is a better fit. Invest in the success of your employees and your team. Call To Action  Let us know how you are applying this content in your business. Show Links Send us your Questions Twitter [email protected]  Catalyst Sale - Live Chat Catalyst Sale - Podcast List Thank You  Thank you for rating and reviewing the podcast via iTunes, Google Play, or your favorite podcast platform.  Ratings & reviews help others discover the podcast - thank you for helping us get our message out to the community. Please send listener questions and feedback to [email protected] or contact us directly on twitter, facebook or LinkedIn. Catalyst Sale Service Offerings Growth Acceleration - Plateau Breakthrough Product Market Fit ---------------------- Subscribe to the Catalyst Sale Podcast Subscribe via iTunes Subscribe via Google Play Catalyst Sale In every business, in every opportunity, there is someone who can help you navigate the internal challenges and close the deal.  There is a Catalyst.  We integrate process (Catalyst Sale Process), technology and people, with the purpose of accelerating revenue. Our thoughtful approach minimizes false starts that are common in emerging markets and high-growth environments. We continue to evolve our practice based on customer needs and emerging technology. We care about a thinking process that enables results versus a process that tells people what to do.  Sales is a Thinking Process.