When you want to run a successful business, you need to be prepared to invest in a lifelong commitment to learning and improving your skills. So, it’s no surprise that even though there are no formal qualifications required to become an entrepreneur, more and more business owners are realizing the vast benefits of investing in their education and improving their business knowledge.
As an entrepreneur, you may be wondering ‘do I have the time for studying?’ The truth is, with a much wider range of flexible learning options available today compared to in the past, it’s easier than ever for business owners to juggle studying with being their own boss when they have the right approach. If you’re considering investing in a college degree or other related training program while running your own business, we’ve got some top tips to help you make it work.
#1. Study Online:
First of all, don’t make it more difficult for yourself by committing to in-person classes that you’ll need to attend on days and times set by the provider. Today there is a vast amount of online-only learning programs available to choose from, that put you in control of your own study options. When you’re studying online, you can do so from the comfort of your own home, your office or your favorite coffee shop. And, there’s no need to be present at classes during the day – you can study early in the morning, during your lunch break, after work in the evenings or at the weekend – whenever is most convenient for you. This means that you can get your online MBA degree while working it around your life, rather than the other way around.
#2. See it As an Investment in Your Business:
There’s no denying that the cost of studying can quickly add up, particularly if you’re considering studying for a college degree or a master’s program. As a business owner, you’ll probably already understand the importance of investing in your business for growth and success. And when it comes to your own learning and personal development, it’s often one of the best investments that you can make in your company’s future. When you’re more knowledgeable and skilled, your business will benefit as a result. So always bear in mind the massive return on investment that you can enjoy from focusing on improving your own expertise as a business leader.
#3. Carefully Plan Ahead:
There’s no denying that running your own business can be a lot of work, so to make sure that you don’t end up overwhelmed with too much to do, it’s a wise idea to start planning ahead weeks or even months before your program begins. Approach your studies in a much similar way to how you approached starting your own business by having a well-laid-out plan of action that you can stick to. Pay particular attention to the time that you have available to invest in both, and put together a timetable that works well. You’ll need to be able to ensure that you can invest the right amount of time into your business while dedicating at least a couple of hours a day to studying as well.
#4. Delegate Small Business Tasks:
To continue from the last point, it’s not unusual for business owners to find that they need to free up some time in order to fit everything in when studying at the same time. The best way to do this is to find trustworthy people that you can delegate smaller business tasks to while you dedicate time to studying. For example, if you usually take on tasks such as SEO, social media management, accounting, payroll and administration tasks, these can easily be outsourced to freelance virtual assistants, other companies, or full-time employees. And in the long run, delegation can be the best decision for your business. Even after you’ve finished your training program, or graduated with your degree, finding others to take on the mundane, time-consuming business tasks for you gives you the time that you need to focus on the important things.
#5. Find a Mentor:
Mentorship is often a very important step for business owners, and working together with somebody more experienced than yourself is one of the best ways to improve your entrepreneurship skills, boost your business growth and avoid making costly, time-consuming mistakes. Finding a mentor who’s been in a similar situation to yourself – studying while running their own business – will allow you to gain invaluable advice from them and get ideas and suggestions that you may not have come up with on your own. Additionally, you can vouch for the fact that your mentor will have made mistakes that they’ve learned from in the past. Working with them means that you’ll be able to learn from their mistakes before you get the chance to make them yourself.
#6. Build Your Network:
Last but not least, building strong networking skills and increasing the number of influential people around you will certainly be extremely valuable to you as a business owner, particularly while you are studying and improving your own skills. When you are studying for an MBA or other business-related degree program, take advantage of your tutors and experienced students on your program; ask them questions, and learn from their past experience. In addition, it’s a wise idea to search for any networking events, business conferences, trade shows and more in your area where you can meet people who can boost your business, offer great advice, and become a source of support for you. Don’t try to do everything by yourself – put yourself out there and make an effort to meet people who could offer the assistance and support that you need.
To conclude – studying and improving your skillset as an entrepreneur can be one of the best investments that you make in yourself and your business. Set yourself up for success by building your network, planning ahead and freeing up time that you can dedicate to your most important commitments.