When you listen to many entrepreneurs share their success stories, you’d be forgiven for wrongly assuming that the entrepreneurial world is not as difficult as many portray it to be. But one thing an entrepreneur won’t tell you is the number of sleepless nights he’s had to endure; the number of courses – both online and offline – he’s had to take; the amount of financial packages he has applied for on websites like this; and more importantly, the number of times he’s had to click here to stop bailiffs from chasing after him or resort to the Individual Voluntary Arrangement scheme to get him out of debt. So, let no one raise your aspiration level too much, becoming an entrepreneur is as much about your ability to withstand challenges as it is about your management skills.
However, I’ve not said all these to dissuade you from pursuing your dreams to become a CEO one day; instead, I intend for this to serve as a wake-up call for all those that may be harboring the hopes of becoming an entrepreneur someday. So, what exactly do I need to become an entrepreneur? Some may wonder. Well, the quick answer to that is education! Although the entrepreneurial world is swarming with difficulties and challenges, equipping yourself with the right knowledge, skills, and tools is all that you need to combat these difficulties and become successful. So, let’s now delve into the business of the day – the top classes you need to take to become an entrepreneur.
Finance and accounting
As we’ve mentioned earlier, running a business comes with so many decision-making responsibilities. And sometimes, making a wrong decision or making the right decision at the wrong time could result in the ruin of a business. As a business owner, there are two financial decision making responsibilities that fall solely on your shoulders: balancing a budget and paying taxes. Both are equally important to your business and, if not handled properly, will potentially spell doom for your startup. Taking a finance or accounting class will give you a basic understanding of what to do during tax season and how to manage cash flow. More specifically, a finance class will teach you about the time value of money, the tradeoff between risk and reward, debt management tools like this, dividend policy decisions, and the optimal capital structure.
Businesses, regardless of how big or small, require a properly structured marketing strategy. Whether to sell your ideas to investors or convince customers to patronize your offerings, a background in marketing is always essential if you want to succeed as a business owner. When you take marketing classes, you’ll gain some highly beneficial insights into how you can provide solutions to the pain points of consumers; how you can reach your target audiences; how you can beat existing competitions; and what’s more, you’ll also learn ways to develop marketing campaigns and engage audiences.
If you’re in the production and service-offering business niche, taking an economics class is not only necessary but compulsory. It is true that an economics class will give you a basic understanding of production, distribution, and consumption of goods or services, but beyond these, it will also imbibe in you some money management skills, understanding of relevant government policies, and strategies for market dominance. Furthermore, taking an economics class will teach you the importance of minimizing expenses while also avoiding the pitfalls of debt.
A trait that entrepreneurs must possess is the ability to rally the troops, call the shots, and organize business processes. But what if you’re not this person? What if management isn’t your thing? Not to worry, you can always learn the techniques. When you take management classes, you’ll learn how to become an efficient leader; how to delegate tasks; how to manage your business funds; how to use the debt management schemes here to protect your business from faltering; and most importantly, how to promote unity and collaboration within your company.
Did you know that some people cannot bring themselves to addressing a crowd? Even the act of pitching a simple idea to a prospective customer frightens some people. If you’re like these people, then you may want to consider taking a public speaking course. This course will teach you how to deliver concise speeches in an allotted amount of time, how to confront an audience without experiencing stage fright, how to make an argument, and of course, how to win over audiences.
Writing and composition
In this digital age, even an entrepreneur is expected to be, at least, a decent writer. So, if you’re not so good with writing and composition, then this is an area you really want to improve upon. Whether you’re composing a business plan, posting on social media, pitching ideas to investors, or engaging audiences, your grammar skills will be put to the test regularly.