10 Reasons Why Every Entrepreneur Should Invest in Continued Education
For many entrepreneurs, continued education efforts are the last thing on their minds.
With the hectic responsibilities of running a business, most business owners don’t even have time to stop and brew a pot of coffee let alone invest in a series of continuing education courses or lectures. Still, the benefits of continued education are profound and valuable. Business is a constantly changing and adapting world, and unless an entrepreneur equips himself or herself to ride the tide of change and adapt along with the business community, failure may be inevitable.
The South Florida Business Journal recently published an article attesting to the benefits of continued education for entrepreneurs even in the midst of an economic recession. According to the article, the profit-generating benefits that can be secured through continuing education efforts are well worth the initial investment of time and money. This is incredibly important for entrepreneurs to understand and absorb. Many entrepreneurs believe that the only way to turn a self-started business venture into a profit-generating business is to aggressively cut costs and focus every scrap of time and effort on furthering the specific needs of the business.
However, the needs of an entrepreneur should be considered just as often as the needs of the business. An entrepreneur is the driving force behind a business. When an entrepreneur is edified and educated, the business improves. When an entrepreneur accesses helpful and valuable information, the business benefits. It’s unwise to separate the entrepreneur from his or her business and vice versa. Feeding one provides nourishment for the other. In case you’re still not convinced, or you’re dragging your heels regarding the need to continue your own education, here are 10 inarguable reasons why every entrepreneur should invest in continued education.
1. The Business World is Changing
First, it’s important to acknowledge that the business world is in a constant state of adaptation and dramatic change. Business today is almost unrecognizable when compared with business ten, or even five, years ago. The introduction of social media marketing, the new concept of subdividing a target audience into niches, new forms of business software, and new guidelines for interacting with clients and employees are just a few of the changes that have affected the business community. Without continued education efforts, these changes would be essentially unknown to and unrecognized by an entrepreneur. Entrepreneurs are in the business game for the long haul. Most hope to grow and develop their business over the next several years. Imagine the changes that big businesses like Wal-Mart or Google were forced to deal with over the years. Without continuing education, the brains behind the powerhouses would have been lost.
2. Eliminates the Dinosaur Syndrome
The dinosaur syndrome is something that challenges and threatens even the most successful entrepreneurs. Without continuing education, entrepreneurs are in danger of watching their insights and practices become obsolete right before their eyes. What works today will not work tomorrow. If regular education efforts are not on the docket, an entrepreneur may be treated like a business dinosaur: irrelevant and on his way to becoming extinct.
3. Learn New, Streamlining Techniques
Continuing education isn’t just something that can help in principle. With continuing education, entrepreneurs can learn the latest business operation techniques. Many of these techniques are specifically designed to streamline business operations and reduce operational costs so a business can increase profit margins. Investing in continued education may seem like excessive upfront costs, but the cost-saving benefits of learning new, streamlining techniques is undeniable.
4. Learn New Marketing Strategies
The only way to generate more profits within a business is to engage in appropriate and current marketing strategies that have proved to be effective. How, though, will entrepreneurs be apprised of these new and effective marketing strategies without investing in continuing education? Enrolling in marketing courses, reading articles and blog posts created by industry professionals, and attending seminars are all great ways to learn the latest techniques that can help a business expand its audience and increase its customer population.
5. Continuing Education is Cost Effective
One common misconception regarding continued education is that it is too expensive for a small budget business owner to afford. This, however, is far from the truth. Continuing education doesn’t have to involve night classes at a community college or attendance at high-price business seminars. The Internet is filled with information about effective business strategies, and most of the content contained online is completely free. This article, in fact, is a form of continuing education. Individuals who regularly seek out high quality, current information are investing in a free form of education that is nevertheless quite valuable.
6. Continuing Education Can Happen in Minutes
Another misconception regarding continuing education is that it requires an excessive investment of time and energy. Continuing education, however, can happen in the time it takes a business owner to finish a cup of coffee. Abandon the Solitaire game and spend some time researching the latest business industry news. Subscribe to online business publications, follow business leaders via social media, and inundate yourself with business education content. A little time investment can go a long way.
7. Give Yourself Clout in the Business Community
Another reason why entrepreneurs should invest in continued education is that these efforts give business owners clout within the business community. Clout is something that must be earned, and showing the business world that you are committed to seeking out new information and knowledge will help you to earn this clout.
8. Create Rapport with Employees
Continued education also allows entrepreneurs to develop rapport and respect with employees. When employees see that their boss is engaged in constant education, they’ll be more likely to respect his or her advice and suggestions.
9. Business Success Requires Investment at Every Level
Succeeding in business requires an initial investment. While this is a concept that is accepted with regard to investment in marketing, advertising, and other business practices, it is often neglected with regard to the effectiveness of an entrepreneur. The entrepreneur is the captain of the business ship. Investing in the captain’s education will protect the integrity of the ship.
10. Generate Excitement to Replace Exhaustion
Continued education can also serve to re-energize and excite an entrepreneur that has been bogged down by a failing business or increasing obstacles. Information about new business practices, anecdotes from business professionals, and the absorption of new business knowledge can help an entrepreneur rediscover his or her passion for business.
Without continued education, an entrepreneur may become ineffective, uninformed, or out of touch with the effective business practices that will guide his or her business to greater success.
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