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A Guide to Business Development Training


One of the challenges of any business is to make sure that their employees are well-equipped with the knowledge to perform their jobs. When hiring an employee, it is difficult to find the applicant that has exactly all the skills needed. In order to adequately train employees, managers need to find and implement a business development training program that best suits their needs.

Benefits of Business Development Training

The main benefit of implementing business development training is to help businesses run better. When employees understand their tasks, they can complete projects quicker, increasing productivity and efficiency. However, business development training has benefits beyond teaching employees how to perform their tasks. Training will indicate to employees that the company has a vested interest in their success and that managers want them to stay with the company. As a result, the company will reduce their rates of turnover and increase employee satisfaction.

In addition, business development training can serve as a means of attracting talent to your company. Motivated individuals apply to a business, knowing they will obtain more than a salary. Another benefit of business development training is ability to transfer knowledge among employees. When employees are equipped with the knowledge to perform multiple tasks, their skills can transcend to various aspects of the business.

Sources of Business Development Training

There are a number of ways in which employees can gain business development training. Generally, an employee may receive a training program by their manager or the HR department. However, for specific tasks, introductory business development training may prove to be inadequate. In order to further train employees, companies may implement the following options:

Coaching:
Many companies choose to implement coaching programs in order to train new employees. Coaching involves a business coach that uses a specially devised development program aimed towards training new hires. The business coach can be a manager or executive within a company, or a consultant from an external source. However, many companies pair employees with a manager, in order to familiarize them with the company. 

Mentoring:
One way to train employees in business development is to set them up with a senior employee as a mentee. A mentoring relationship allows an employee to develop relationships with his or her peers, as well as learn more about the company. By learning from a mentor’s experience, skills, and past work, an employee can become well-versed in company operations.

Consulting Firms:
If internal resources are inadequate for business development training, a company may want to consider utilizing the services of a consulting firm. A number of consulting firms offer training programs, ranging from general to highly specialized programs. Companies that choose consulting firms should make sure that the firm is able to understand the needs of the business, and what kind of lessons and training they want to implement.

Business Schools:
For advanced training, companies may consider sending their employees to business school. This option typically allows employees to attend a specific business education or training program, with the costs subsidized by the company. However, this is an option that is only used by larger, established companies for special individuals.