Education and business must go hand in hand, and then only one can survive through the chaos of a business world.
There’s no other challenge, like the challenge of setting up a successful business. It is one such game that requires hard work and intelligence in the same proportion, and this spectrum of intelligence is gained from both innate and acquired knowledge about this field.
Because every now and then businessmen/businesswomen need to take crucial decisions for the benefit of their company and those decisions must be based on a proper understanding of the marketplace.
Business Failure Is Not A Rare Event
According to reports, most of the business fails are noticed during their initial growth phase and the rate of first-year business failures accounts for nearly 1.5% around the world.
Many business personals neglect the importance of educating themselves for running a business, considering it as a waste of time. They believe that the knowledge about the market comes from experience. They are correct.
Knowledge can be achieved via experience and methods can be learned in the workplace, but the market is a strange maze, and it keeps changing from time to time, and it is always better to keep track of it. In this tech-savvy generation, direct performance on stage is no longer a valid option.
Self-education is an attractive choice for already established business owners. It not only helps them to take responsible decisions, but they will be fluent enough to counter question their consultants if they make any wrong judgment.
Self-education involves being constantly on the lookout for issues associated with running a larger business like taxation, technological, housing, and business processing issues that occur from development and, also keeping track of market risk profiling, funding, and financial planning, efficient recruitment and infrastructure investment.
Start Up Business Owners
For start-up business owners, it has almost become a necessity to show proper documentation of their education and course work as part of the risk assessment process. MBA (Master of Business Administration) is one such course whose value has increased immensely amongst business owners these days. Some complete it right after graduation and some take this up years after graduation. This two years course can be taken up part time as well, making it comparatively easy for these busy guys to carry out both education and business, side by side.
Expensive MBA courses aren’t feasible for everyone, nor is it necessary for everyone, like for small business owners. For them enrolling for some MOOC’s is the best option. Udemy, Coursera, Open Learning are some of the widely acceptable MOOC’s that these business owners can look out for to carry out their self-paced training and fill in all the voids in the knowledge they have about fetching a fortunate business.
Poor decision-making ability can mess with the profit and loss game of a business enterprise. So it is always better to be aware than to regret later. So, be educated and be undefeated!