Learn More, Earn More: 6 Ways to boost your business growth through learning

The stats are in – investing in learning provides better returns than investing in the sharemarket, according to Australian Bureau of Statistics research. Leading companies recognise the importance of learning. Professionals also know that investing in education and development is an essential part of their career progression. For some business owners or growing companies, there can be a reluctance to invest in learning. It may be seen as an unnecessary or extraneous expense, rather than as an essential aspect of competing in a rapidly changing world.

Leading companies recognise the importance of learning. Professionals also know that investing in education and development is an essential part of their career progression. For some business owners or growing companies, there can be a reluctance to invest in learning. It may be seen as an unnecessary or extraneous expense, rather than as an essential aspect of competing in a rapidly changing world.

You can’t think about strategy or growth without thinking about learning. To get from where you are today to where you want to be tomorrow requires movement along a learning curve. To achieve new outcomes, new skills and knowledge are needed.

Learning takes many forms and doesn’t have to involve expensive conferences or four year degrees.

The learning plan for your business, or the professional development plan for your own career, needs to be tailored to suit your strategy and your goals.

6 ways to boost your business growth through learning

1. Read
Mark Twain famously said that ‘he who does not read is no better off than he who cannot read.’ Read relevant books, newspapers, magazines, industry journals, academic papers, blogs & websites. Subscribe to journals, newsletters, blogs and feeds to stay up to date.

2. Search
Online searching for specific information is quick and easy, just make sure that the sources you use are credible. There are abundant online learning opportunities including webinars, online courses and virtual conferences. These are flexible, convenient and require no travelling.

3. Engage

Seminars, workshops, short courses where you learn from an expert on a particular topic and also meet others with an interest in the area. This might also include conferences with your industry sector or your target market.

4. Listen

Listen to the wisdom of those who’ve gone before you. Experienced colleagues, industry leaders, external coaches and mentors can be invaluable to your learning.

5. Apply

No matter how much time or money you invest, if learning isn’t appropriate to your needs, it may be difficult to justify the expense. Likewise, if you don’t apply what you’ve learned to your business situation, you may look back on the learning as a waste of time and money. Always ask yourself how you can apply what you’ve learned, and consciously turn new ideas into positive actions.

6. Reflect

Whether assessing yourself or your business, reflect honestly on the areas of weakness that would benefit from improvement and seek out the most effective ways to work on these. Monitor your progress over time by looking back to see how far you’ve come and the benefits you’ve gained from each learning experience.

Sadly, some businesses still perpetuate the old furphy: ‘what if we train our people and then they leave?’ To which the answer is still, ‘what if you don’t train them, and they stay?’

By Dr. Monique Beedles, Strategist, Teak Yew

Monique specialises in designing businesses for the future. Working with growing businesses, Monique provides independent consulting services and runs workshops and retreats to help clients think ahead about their business. With a robust strategy focus, Monique ensures that strategy, structure, systems, processes and people are aligned with the vision and values of the business to ensure profitable and sustainable growth. www.teakyew.com .

Article provided by the Australian Businesswomen’s Network, which provides online training and mentoring, resources and advocacy for women in business. Read more articles at their website abn.org.au .

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