Wednesday, October 31, 2007

Upside Leverage and the "Training" Business Driver


Do you know who Jay Abraham is? He is the world's highest paid business consultant. I've been studying Jay's teachings for a year now, something I think everyone who is in business for themselves or a professional sales person - should do. You can learn so much from Jay's business philosophies.

The reason for this post is that I wanted to share his insight on Upside Leverage and how Upside Leverage and his 9 business drivers can revolutionize your business growth potential. More specifically, how his third business driver - TRAINING... and having the right attitude towards training (what, how, when, why, etc.,) can influence one of your biggest capital investments - your investment in your people... and allow them to go from average or mediocre performers to superstars.

Upside Leverage is about how you get an activity, an investment, an opportunity, and an effort of people or creative intellectual capital to produce for you and your business at a much higher, bigger, better more profitable yield or result that it otherwise would.

Here is an exerpt from Jay and his philosphy on the third business driver, Capital.

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From Jay Abraham's Special Report - Nine Drivers, Upside Leverage and Exponential Business Growth....

CAPITAL

This includes your human capital, your intellectual capital and your financial capital. Human is basically the people who are working for you - the people that are there. If you can get everybody performing higher you've got incredible leverage. How do you do it? Well, there are three or four easy ways to do it.

Training

Every dollar you spend in training will produce on average 20-200 times return annually in yield. So, do you train your people? If so, how often or frequently?

Do you train your selling people in formal professional consultative selling? Doing that will improve everyone's performance in the category from 20-2000% and keep them performing at these levels. Do you train your office staff in all the skill sets needed to perform at superstar levels?

Are they the fastest they can be at reading? Or are they the most proficient possible in typing? Are they the most skilled in time management? Are they the most effective in efficiency or productivity?

If you can get each of your people 10%-50% better in each of those categories, you've just doubled or tripled the effectiveness. Or you'll be able to achieve the same result for one half the staff, time or cost - and you can reallocate or remove 20%-30% of your staff.

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That's from the master. Your investment in your human capital can never be taken lightly. The right training, delivered in the right way, systematically and with positive reinforcement, repetition and frequency can make all the difference in realizing a great training ROI.

Have a Happy Halloween.

George

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