More than half of all startups fail within the first few years of operation, with the primary causes being lack of knowledge and lack of experience. If you're a small business owner or even a larger, well-financed startup, these statistics are terrifying. You pour your heart, soul, time, and most of your money into a company that has this constant dark cloud of "likely to fail" hanging over it. That kind of pressure is grueling, and it doesn't make for a very productive work environment. What if you could take the lack of knowledge and experience out of the equation for your business, thus giving it a remarkable edge? What if you could infuse your company and its employees with fast, useful knowledge that could prevent that "likely" failure?
You can, with corporate e-learning. It's a fast and seamless education process that gives you and your team the power to succeed.
Analyze Your Talent
No matter how talented you and your startup crew are, chances are very good that at this moment, there's more you all need to learn. What areas are you lacking in? How could the team, as a whole, benefit from group learning, and what topics should you be most concerned about? Even if you're all highly educated and experienced in business, to really be competitive and increase your chances of succeeding, focus on an intense e-learning curriculum that will empower each of you to your best individually and your company as a whole to reach the top. For yourself, especially if you're the CEO or owner, ask yourself questions like the following to determine what areas you might need the most educating in:
- What's your biggest fear, and how can you facilitate your knowledge to avoid the reality of that fear? For example, maybe you're afraid of over-pricing or under-pricing your goods and services, meaning that's where you need to boost your expertise.
- Who are your main competitors, and do you know what they're doing right and wrong? Learning these things can help you pull ahead of your competition, and not knowing them can mean disaster.
- How do you anticipate the future and, therefore, prepare for it? If you can't predict markets, consumer trends and supply chain challenges, how can you keep a business running?
- When should you scale, and how fast should it happen? To scale or not to scale is a major hurdle for most startups and can cost them everything if they don't get it right.
These and other soul-searching questions should give you a good idea of what you're lacking in terms of experience and education and provide the platform for learning in the near future. These are pivotal questions you don't want to look back on with the answer "If only I knew then what I know now". Know it now, to avoid many of the costly mistakes startups trip over.
Organize Your Resources
The budget for most startups isn't usually very large, but your need for education is; therefore, it's important to prioritize current spending and only allocate resources to projects that will propel the company forward. E-learning can save you needed funds in a number of ways:
- Travel: Even if your training facility is local, the expenses involved in transportation are considerable.
- Facilities And Instructors: With in-house corporate elearning, you won't be burdened by the price tags for renting space and hiring instructors.
- Employee productivity: While your people are traveling to and from training and while that training is underway, you're still paying them their salaries. Providing that training in-house can save you astronomical amounts of capital, in addition to the travel costs themselves.
- Learning materials: Not only are you not paying for the print and production costs of brochures, books, and manuals, but your e-learning materials become a permanent part of your corporate learning environment.
For your company, there may be more savings involved with online corporate learning as you factor in the benefits and weigh them against the costs. Say you have someone on board who is amazing with the creative aspects of projects, but lacks the technical skills needed to develop ideas into products or services; introduce them to the educational foundation they've somehow missed along the way, and you've forged an incredibly capable, nearly indispensable employee. The reverse could also be true, if you have a technical wizard for an employee who has no grasp of the creative end of the business. Your team needs to be on the same page moving forward, and most often, organized education is the only way to do it.
Formulate An E-learning Strategy
For any startup, time is the most valuable and often the most elusive resource, but finding it means enabling your team to be more prepared to succeed. Figure out the best way to educate individuals, which may not be as difficult as it sounds, considering the fact that e-learning can be accomplished on an individual level. Therefore, you could have some of your staff running the day-to-day aspects of the business, while others are training online, then switch them, without the company missing a beat. You might also consider e-learning at home during non-business hours, if that strategy works better in keeping the company balanced, performance-wise. So long as you know what needs to be learned and find a way to learn it, your e-learning strategy should be a success.
Reinforce The Learning, Constantly
Business is always evolving, and even after you and your team have met your educational goals, there will likely be more to learn. Once you have the routine of online learning down, though, it should be a snap to upgrade your knowledge base, as needed. Keep learning, and your company should keep growing, but fail to acquire the information that can facilitate success, and you're likely to fall behind.
Corporate e-learning can be a major factor in your success. When you consider all the businesses that have come before yours and failed and especially when you examine the reasons why, you'll understand the value of knowledge and how it's ultimately one of your biggest assets. To learn more, contact companies like elearning, Inc.