I was working with some clients recently, helping them with their business planning. There was one problem. I realised that there was one glaring omission from every business plan and template I have ever seen. There is never any mention of self development. Continuing Professional Development (CPD) is an ongoing requirement of all other professional bodies from accountants to solicitors. So why is it not a professional requirement for business people?
With so much free training for start-up businesses (especially in Wales) it is a wonder that they do not develop the habit of seeking out training to keep their learning and business skills growing. Sadly many do not. Why is this? In my opinion it is because people do not readily value their own self development especially when they get help, advice and training free in the start-up years.
The mind-set seems to be one of ‘get some free training first’ then just develop the business. Many get so bogged down with ‘doing’ the business that they believe they have no time for self development.  Others don’t want to pay for training as they still expect it all for free!
This is a sad reflection on business as a profession. Surely it is even more important, if you are running your own business, to keep increasing your skills and knowledge. After all, there are a million and one things to learn especially if you are a freelancer or sole trader.
Wouldn’t it be useful if all business plan templates included a section for self development? Here are my ideas of what would be included.
  1. An individual skills analysis SWOT (Strengths, Weaknesses, Opportunities, Threats) – covering all areas of the business and technical requirements.
  2. Research findings for required courses and the costs – Also including low cost/free training such as books and YouTube tutorials.
  1. A prioritised list of skills needs – Prioritised both by need and cost.
  1. A scheduled action plan of when the training should go ahead.
  1. A post-training evaluation Reviewing the effectiveness of the training in terms of skills transfer to the business (2 – 3 months post training)
Without this level of planning and evaluation time and money can be wasted on self development that does not support business growth.
Also don’t forget that training events are a great place to network and do business. So even if the training is not as good as you had expected you may pick up a great lead!