How to Make Money from Training in 3 Easy Steps

In response to an earlier article stating that training is one of the 5 costs that cannot be cut, 3 persons asked me to elaborate how we can ensure that our training is profitable.  There are 3 simple steps to make money from training:

1. Know what you want to learn.  Like I want to learn how to negotiate successfully, so I source for such a training program. 
2. Learn with an objective in mind. When I attend the course on negotiation, I am not interested to learn everything about negotiation, I just want to apply negotiation to my work situation now.  Assuming I am a buyer, I want to learn how to get a good deal from supplier without being fooled by them
3. Apply the learning within the next 3 days.  Studies show that unless you apply what you learn within the next 3 days, you will not apply the learning at all.  In fact, people lose money on training in one of these 5 ways, application is the main reason.

To ensure that your training is profitable, you have to compare 2 things:

1. What you gain from applying the learning. Like I will gain a 1% discount from my vendor when I apply negotiation tactics. Assuming I am purchasing $10,000 a year, that 1% savings translates to an annual savings of $100.  
2. Net Training cost.  The training fee that I paid, less government subsidy.  Assuming I paid $199 to attend a negotiation course, with 60% government's PIC funding, my net training cost is $79.60.  

From the above comparison, there is profit of $21.40 (Gain of $100 less Net Training Fee $79.60).  This translates into an annualized return of 27%, very high as it is more than 11 times what I can get from a no risk fixed deposit interest. This return is higher than buying Alibaba shares on its IPO!

One more thing: if you are unsure that the training can yield you profits as you are afraid that you cannot apply the learning to your workplace, talk to the training provider.  Ask them to either give you a money-back guarantee or give you free advise.  If the training provider is unwilling or unable to give you this, don't take up the training. Source for another trainer that is able to do this. 

Note: Now you can get one or all of these 5 high value gifts from us, including the coveted iPhone 6 worth $1,888 when you invest in $6,800 training services with us, details are at here.   To avoid losing money in training, know these 5 elements.

By Andy Ng of Asia Trainers, details of our courses are at here.  Related articles on training:

1. Learn to be a better manager in these 4 weeks 
2. How to use more than 10% of your brain
3. Doing the 6 things that everyone should be doing
4. Avoid losing money in training
5. How you can be a toast for change
6. The 5 costs that you cannot cut
7. War is expensive: leadership with Sun Zi Art of War
8. Getting these 5 high value gifts including iPhone 6 when you invest in training