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    By: Bijan Biswal
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    By: Bijan Biswal
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    Nowadays, thousands of big firms and mid-sized corporations are focusing on getting proper training for the employees from a good and reputed financial management training center.

    Points to consider while selecting a small business finance course

    1. Do they understand and acknowledge industry-specific and basic “day-to-day reality?”

    Many financial management training center providers are avid experts in a particular area and/or industry. The best and perfect ones know absolutely about how to stay within that industry boundary. Unfortunately, it is a tedious task to select and hire a suitable financial management training center that focuses on training rather than monetary benefits.

    If the trainer doesn’t know anything about the specific industry, then it's disengaging from the content, and later everyone discredits the trainer and their expertise altogether. So while hiring an educated training provider, make sure they possess a deep understanding of the industry of the particular business, various challenges, proper strategy, and the day-to-day reality in which participants actively operate.

    2. Is their content customized?

    Customization is the key to success in a small business finance course. It is to be noted, one-size-fits-all case studies or role-plays are not good for any business practices in classrooms across the globe. Customization should be effective while learning. While selecting financial management training center, always insist that the training provider should have customized core elements in their rigorous training program like industry-specific case studies, role plays, various examples, and industry-specific terminology.

    3. Do they add value to the learning journey?

    The concept of finance essentials for small business or continuous learning is not an event. Most of what participants grasp in a classroom is usually forgotten within a span of a few days, if not weeks. According to detailed data of ES Research, approximately 97 percent of most of the sales training has zero impact or influence beyond 120 days.

    In order to be effective, any industry-specific training or finance course for small business owners must have a solid pre-and post-training component; it is an essential part of the learning course. Pre-work requires the active participants to moderately reflect on their own professional behavior and prepare for the upcoming classroom session in a well-defined manner.

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    The basic concept of Post-training reinforcement assists the participants to properly “lockdown” the usual course of learning, frequently ask follow-up questions, and empower them to overcome the innumerable inevitable challenges that come guided with implementation.

    4. Is there multi-channel, hybrid learning options in the finance training center?

    Learning is a continuous process; it doesn't happen in the classroom alone. It is to be noted; virtually everyone prefers innumerable and different modes of learning. The concept of effective learning requires a multi-channel or multiple options, multi-modal approach.

    5. Progress needs to be measured

    Before joining courses related to finance essentials for small business, it is important to know whether it is mandatory and essential training which is required by the law, or a professional development approach to improve your professional capabilities; more and more organizations have embraced this rule to make use of external training providers.

    The major advantages of external training providers are innumerable; they very well manage the certification of their own trainers, they arrange the course materials, and they legally liaise with active participants throughout the genuine process. 

    Few pointers before selection

    1. Check their professional track record

    An external genuine training provider’s personal track record is a very good and excellent indicator of their professional compatibility to enhance and gel with your business. To find out, have they worked with an organization like yours or your competitors in the past? Don’t forget to contact that company and find out about the results of the training provided. Do consider checking the valid credentials of their existing trainers; look for a relevant and positive experience and customer references or feedback. 

    2. Do they offer customized training?

    Anything off-the-shelf training usually has the worst reputation, but if you specifically required it to meet essential or mandatory legal obligations, then it does make positive sense that the professional training would not be required to be customized. However, a training provider that only offers or initiates off-the-shelf training several packages might not be required to be the best fit for the company. Most of the best providers very well understand the requirement to offer both and are very well willing to initiate or customize training based on your specific business requirements.

    3. Don’t forget to check their financial history

    This can be a sensitive issue but a very vital issue as well far as is your training course agenda is concerned. But it is important to protect your company. Do not hesitate to check the financial history of an external training provider who will be training on finance essentials for small business. Before paying any fees or lump sum money to a provider, the business owner should know about their financial situation and prospects.


    AUTHOR

    Quicken loans
Bijan BiswalWednesday , May 19 , 2021

    ....

    Mr Bijan is the man behind www.paisababu.com. He is a well qualified (B.com, MCA, MBA, LLB ) and entrepreneur having more than 20 years expertise in Business. He engaged in blogging for many years. Paisababu.com blog is ranked as one of the Top Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money.to make ware people about various financial products in India for their use. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

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