Why Personal Development Could Be The Answer To Growing Your Home Business
Currently, there are over 15 million home-based businesses in the country, and 69 percent of startups begin at home, according to the Small Business Administration. For their owners, continued professional development is one of the last things on their to-do list. There is no shortage of stories about entrepreneurial success without a college degree. In fact, fewer than six in 10 small business owners have a college degree. Yet, as business owners and employers, continued professional development is regarded as a favorable trait in employees. So why do small business owners avoid it? Whether it is the time constraints or the uncertainty of balancing continuing studies while building a business, pursuing continuing professional development can open up a lot of doors for both you and your business.
The Benefits Of Continuing Professional Development For A Business Owner
Continued development programs provide multiple opportunities for entrepreneurs to meet valuable professional contacts and expand their professional network. For a small business, a professional network is important in identifying new growth and collaboration prospects, potential new hires and even meeting useful industry experts and freelancers to help take your business to the next level.
Pursuing higher education also equips a home business owner with the technical skills needed to manage all aspects of their business, especially since 60 percent of home-based businesses are non-employer entities. Securing the right technical skills to manage your business website, monitor payment platforms or refine your supply chain not only helps you command more control over your business, but it can also identify any potential cost-saving and growth opportunities. Having a certified background in computer science, marketing or other discipline is also a great tool to have, in case you need a supplementary source of income or decide to pursue a second career now or in the future.
Useful Courses For Your Business
There is no set guide on what to study if you are a business owner. A quick scan of business owners around you will reveal that they all have very different educational backgrounds. Some have law degrees, while others may have a high school education or Masters in Business Administration. There are, however, certain courses that can apply easily to your home business and allow you to reap the benefits of studying firsthand.
According to the World Education Services, there are four areas of study that can prove quite useful for business owners, including Business Administration, Economics and Computer Science. Most businesses today require an online presence and e-commerce aspect to them, which a computer science degree can help you become familiar with. Business Administration courses, on the other hand, help you learn effective leadership skills – a key aspect of managing your own business. All of these can be done online alongside your regular work.
As a business owner, customer service and networking skills will be essential when interacting with the public or suppliers, or even when creating promotional ads. Meanwhile, over 77 percent of small businesses are now on social media, and a similar percentage of customers use social media platforms for research, reviews or purchases. There is no doubt that social media channels have become one of the key streams of marketing, and having an educational background in social or digital marketing can help you get ahead of the curve when it comes to building a brand presence online.
Managing Studies While Building Your Business
There is no doubt that studying alongside the full-time job of growing a business of your own is a juggling act, but it is possible with the use of a few helpful tactics. Firstly, consider distance or online learning modules. These can afford the student more flexibility to complete course requirements while balancing other demands in their lives. Another trick is to get organized. Setting up a dedicated space at home for studying and creating a study timetable (even an hour before bed) can help you stay focused.
Finally, avoid distractions. This means muting business notifications when studying and being able to compartmentalize business tasks from your course demands. Alternatively, some opt to integrate their learning into their business by relating their course modules to real-life applications in their business. It’s all about finding what works for you and your management style. Further professional development is a key opportunity that entrepreneurs can and should capitalize on. It can only open doors to personal and business growth.