Growing Your Business and Career With the 50–30–20 Formula. (Part 1).

I strongly believe that anybody can achieve anything in life if we are sold out to personal development. For example, I spend more money on books and training than on clothes. The reason is simple; the world pays only those who are current. If your skill and knowledge is outdated, nobody will pay you.

The depth of your capacity determines the height of your accomplishment. The quality of your output is predicated on the quality of investment you are making in yourself. Personal development determines your output, and the quality of your output determines the amount of money people will be willing to pay for your services.

I have seen people’s income increase exponentially because they engaged in an aggressive personal development program. I have seen businesses grow exponentially in a very short time because both the owners and their employees signed up for coaching programs and engaged in an aggressive personal development.

The output of your staff, including yourself will be predicated on three major factors. That is what I want to show you today.

What Is 50–30–20 Formula?

It is a formula used to develop leaders and employees in every large and small organization.

This Is How It Works:

1. 50 Percent Stands for Work Experience.
Work experience is one of the major ways to develop yourself. The reason the CEOs of large corporations earn millions of dollars annually is because of the experience they are bringing into the organization. You can’t buy experience with money, but at least, you can pay the person who has the experience to help grow your business.

If you want to hire someone or promote somebody to a leadership position, you must consider his or her work experience.

Work experience continues to be the main factor in developing both leaders and staff. This form of development comes from individuals having experiences with new tasks, people, challenges, and opportunities.

Leaning by doing is still the dominant way that people learn. Even in an increasingly brotherless world, 50 percent of learning will come through experiences.

Adults learn by doing. At least, they learn when and if they reflect on what they have done and gain insight that allows them to do better in the future. Doing does not lead to learning without reflection.

Work experience may also come in the form of specific projects and assignments. Large corporations, for example, work to broaden work experience through a variety of temporary assignments or projects.

They often assign talented leaders and staff members to cross-functional projects to help them gain experiences they can inculcate in their subordinates in the future.

2. 30 Percent Stands for Training.
According to the Training Industry Report, an average training budget for a small company amounts to $234,850 on an annual basis. The average training cost per employee in 2016 comes to $1,041. Proper training has a positive effect on employee and customer retention, sales and overall profitability.

If you wish to grow your business and take it to the global stage, you must take training seriously. Not just training your employees, but also training yourself! Ignorance is too costly. What you are struggling to deal with can be solved in few minutes if you pay a professional to train or coach you.

To gain from training programs, it must be well organized. Much of today’s training investment is haphazard, not targeted at a particular area individuals need growth in their organization.

We call haphazard training tourist training. Participants attend these training programs in much the same spirit as tourist visits a foreign country. They fly in, see the sights, take some pictures, have some experiences, purchase souvenirs and return back. What did they learn? Nothing!

How to Organize Profitable Trainings:

Create Good Content.
Don’t just go for nice sounding themes and topics. The training must be aligned to a particular challenge you are facing in your organization. The essence of training is to equip you and your team on how to solve a particular problem. Don’t just organize training to fulfill all righteousness.

Whenever our clients invite us to conduct training for their organizations, we usually take time to ascertain what they really need. We use our strategies to gather data from both leaders and staff members in order to design the right training to help them.

To properly organize training programs, some large corporations have established universities to house their learning experiences. IBM has what they call Armonk facility, Goldman Sachs has one, McDonald’s has Hamburger University etc. These companies spend millions of dollars annually to fly in trainers and coaches from around the world to train their staff. That is why they are growing in leaps and bounds.

In the second part of this discussion, I will show you more ways to design corporate training, and also show you what the remaining 20 percent stand for.

If you truly wish to grow your business, and expand your idea, you must engage in an aggressive personal development. The good thing is that you can do it right now. We have a world class training system to train you, your family, staff and partners. It has helped churches, nonprofit organizations and clubs. Just click this link bit.ly/322fxVj and follow instructions, or call Godwin on 07032681154 or 08064143363.

To order my books and audio programs, call 08064143363 or 07032681154.

Share your thought at the comment section below.

Keep soaring!

Copyright 2020: www.kingsuncommonwisdom.com. Reprint, curation, adaptation, or re-posting this article without the consent or approval of www.kingsuncommonwisdom.com/blog is a copyright theft.

8 thoughts on “Growing Your Business and Career With the 50–30–20 Formula. (Part 1).

  1. John Paul says:

    Sir I’m so impressed, but still have questions to ask . how can a trader in the main market survive/grows his business at this point in time .as we all face this lockdown issue?

  2. Michael Ndubuisi says:

    Awesome!!! But I don’t like been kept in suspense Sir! The remaining -20%. I’m gonna have to start chasing you around to get the remaining thing??? Secondly, there was a time I made order for about two books you recommended to me while I was in South Africa studying. I can’t really recall their titles of those book vividly. But one of the content that I requested mentorship for was on writing an award winning or business proposal which made you Director himself to recommend those books. But the issue was that I didn’t get those books as paid for???

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