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Improve Performance, Provoke Thought, Think Critically.

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The Catalyst Sale Podcast is published weekly.  We take listener questions at @catalystsale on twitter or hello@catalystsale.com via email.

Topics discussed - B2B Sales, Sales Training, Product Market Fit, Growth, Hiring, Recruitment, Sales Process, Business Acumen, Startups, Leadership.

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  2. #130 - Training - Is it an Expense or an Investment?

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

Feb 19, 2019

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.

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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.

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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.