Train Yourself
 By Terry M. Blair

You invest in equipment to help build a better small business. You invest in marketing to keep customers coming in the door.

So why not invest in yourself by getting trained in skills that will help you be a smarter business owner?

Training can pay big dividends for small-business owners. You’ll gain new skills, of course. But you’ll also open yourself to new ideas and to new ways of becoming more productive.

Here are five training areas that can benefit most small-business owners.

Financial Training
The success of your small business hinges on finances, from revenues and profits to taxes and cash flow.

Yes, you can hire a bookkeeper to send out invoices and track expenses. And you can hire a tax professional to complete your returns. But you can’t make smart decisions about expansion or cash flow without financial management.

Bottom line: You must understand the finances of your business if you expect to succeed.

Try these sources to get the financial training your need.

• Your CPA
  If you work regularly with a certified public accountant (CPA), that office should be your first stop. CPAs specialize in taxes and accounting. They can tutor you on any number of financial issues, such as maximizing business tax deductions, tax planning for major expenses and more.
  
  Buy a few hours of your CPA’s time. Go armed with a list of specific questions about your small-business finances.

• AFS ProTax
  Don’t have a CPA? No problem. As an AFS member, ProTax gives you online access to CPAs at no additional charge. Through the AFS Web site, ProTax offers complete and confidential answers to questions in one business day.

• Business groups
  Local chambers of commerce, industry trade groups and professional associations frequently offer informal courses on business financial management. Check the Web sites and the publications of such groups for announcements.

Communication Training
Poor communications can sink your small business. On the upside, good – or even adequate – communications can help your business soar.

Think of the ways you communicate with clients, potential customers, suppliers and business colleagues:

• E-mail

• Phone conversations

• Face-to-face

• Sales letters

• Bid and project proposals

• Perhaps even public speaking

One of the best ways to improve your communication skills is by taking a public seminar. They’re inexpensive, offered nationwide and usually last only one day. Plus, they’re targeted. Each seminar usually covers a narrow topic, such as e-mail etiquette or becoming a better negotiator or how to write a sales letter.

Expand your communication training by taking a seminar in listening skills. Or turn to an organization such as Toastmasters International to polish your public speaking skills.

Sales Training
Without sales, your small business goes belly up.

But not every small-business owner is a natural salesperson. That’s where training can help. Sales skills can be learned and honed. But be careful about whom you trust to teach you the ropes.

Start with some basic sales books. There are plenty to choose from. Try one of these:

• Stephan Schiffman’s “The 25 Sales Strategies That Will Boost Your Sales Today!” (Adams Media Corporation, 1999)

• Spencer Johnson’s “The One Minute Sales Person: The Quickest Way to Sell People on Yourself, Your Services, Products, or Ideas – at Work and in Life (William Morrow, 2002)

• Zig Ziglar’s “Secrets of Closing the Sale” (Berkley Trade, 1985)

Beyond books, look for workshops and seminars conducted by real-world salespeople, folks who have been in the trenches actually selling products and services. Also look for courses that focus on selling for non-salespeople, rather than those geared for a professional salesperson.

(Posted August 2007)

>>Back to AFS Coach