Business and Money Tips

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: Know what you want to learn .  Like I want to learn how to negotiate successfully, so I source for such a training program .  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 n ow .  Assuming I am a buyer, I want to learn how to get a good deal from supplier without being fooled by them 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 thing

The first thing that comes into people's mind when you ask them to increase sales is "Where do I advertise?"  Next is to increase the salaries of salespeople.  After that, you've got to increase the marketing budget and so on.  They are all costly ways with no sure guarantee of success.  No wonder they say many people would prefer to not increase sales for fear of wasting money!  It doesn't have to be this way.   Companies can always increase their sales without incurring a single cent.  In fact, many of them have realized that not only there is no cost involved, you can actually make money from increasing sales .  Here's how it works: You send your salespeople for trainin g that teaches them how to increase sales by say, 61.1%.  Since the Singapore government funds 60% of the training cost under PIC Productivity and Innovation Credit, your net cost of the training is 40%. But under the PIC Bonus scheme, your company will receive another 100% of the