Why business owners must put cash aside for their own development: Phil Fraser

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As a Business Owner do you have a Personal Development budget? A what? As thename suggests, a specific budget, or pot of money, set aside for your own personaldevelopment. If you haven’t got one, you really should.

I think this is a brilliant concept and it came to my notice via the personal branding coach, Deborah Ogden, on her ‘More Impact’ podcast. ‘Your level of success will rarely exceed your level of personal development’ says Hal Elrond and that is so true. It’s the same as Stephen Covey’s habit no7 ‘keep sharpening the saw’. Most businesses will have a training budget in their budgets and then accounts. There’s no quibbling about it, and no questions asked.

It’s very easy to stay in the safe zone, and as we always say, ‘if it’s not at least a bit scary, you’re not pushing yourself’. But the beauty of the comfort zone is that it’s easily expandable with a bit of training, learning and encouragement. * With personal development comes the inevitable confidence, greater respect and an increased and broader skillset; all the things a successful business owner needs in his or her arsenal.

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