A Penny Saved Is A Penny Earnt!

OR is it?

Many of us grew up in households or have had relatives or friends tell us that a penny saved is a penny earn't.   And sure, if you can find an identical product or service delivered at an identical price, then that may be true.   But what about in Business?  Well, you definitely shouldn't overlook things in your business that you can save money on, in fact I encourage it.  

But is saving money on education and training the best place to start........?

Let's be honest...

  • sales training
  • business training
  • technical training
  • staff training
  • accounts training
  • phone answering and despatching job training
  • product training
  • safety training
  • marketing training
  • etc etc .........is all very expensive isn't it? 

But, I want to talk about what the real 'cost' of NOT training actually is?

If you play footy, and your team doesn't do any regular training, how many winning games will that cost the team? 

If you play golf, and you've never had a coaching lesson, how many extra shots is your lack of coaching adding to your game? 

The real cost of NOT training is never improving your game!

But training is expensive right? 

If the golf lesson costs you $100, and you manage to knock 2 shots off your handicap, was that $100 expensive or cheap? I guess it would depend on what the extra strokes off your handicap is worth on comp day, or sledging rights with your mates....BUT If you don't play golf, a $100 golf lesson seems expensive right?

What about this, if training means you sold an extra hot water heater job a week, what would it be worth?

If the average quote of the hot water heater you supply and install is $1000, and after paying for training you now sell an extra hot water each week - well that's now an extra $4000 in the 1st month of putting your training into action!!

Imagine if you got an extra 2 hot water jobs a week - would it be worth it?  How about a WHOPPING $96,000 a year to your existing business?

So in this case....the real cost of NOT doing any training could be worth $96,000 a year.

If the training cost $2k,  $4k or even $10 thousand dollars, would it be worth spending the money if you got $96,000 in results in the 1st year?  Maybe you could even use your new found knowledge to win extra jobs in EVERY area of your plumbing business.  How much could it be worth next year, and the year after.....and the year after that?.......

That training could be worth millions of dollars over the life of your business. 

Would you still think the training was expensive?

Not to mention if you have more than one plumber, the current and future COST to you could be much, much higher.....

Imagine if you could get similar results in multiple parts of your business..........what could that do to your money in the bank! 

What would you do with the extra money you would now have?

Look, I understand it's a different way of looking at things. Possibly every boss you've had was a tight ass who never wanted to spend any money, and probably never spent a brass razoo on training or business stuff.  I get it......mine too.

But, the truth is, anybody who has ever paid for good training knows the real cost of NOT training is all the money your NOT making now!  As well as all the jobs you're not getting now, and all the customer's you're losing now, and in the future.  That's the REAL cost of not EDUCATING, not TRAINING and not IMPLEMENTING.  The only person who has the power to change, or accept that loss .... is you! 

The cost of not doing this stuff = All the $$$$$ for jobs you're not getting now, and not going to get in the future. 

A Penny saved, is NOT always a Penny earn't.


PS. I'm not saying you need to get training from me, but you need to get training from someone.  Love to hear your comments, feel free to throw them below.