In this day and age, it has never been so easy for business owners to access the vast amount of information the Internet offers. You already know this and that’s why you’re here. This article will provide you with popular and insightful business owner training resources that can answer many of the questions you are asking yourself as an entrepreneur. Questions such as: What is the average salary of a small business owner? How do I avoid hitting a “financial wall?” In what circumstances would I need to apply for a loan or line of credit? What does a good business model include?
All of these questions are important and without the proper resources, you will keep searching for the answers until you figure it out the hard way – through experience. The incredible thing about business ownership is that anyone can attain it. There are no diploma requirements, no age restrictions, and no government preventing you from the path as an entrepreneur. We are living in one of the most resourceful times of our history with the capability to run a business from the palm of our hands. Even with the COVID-19 pandemic slowing the economy, innovators can utilize resources found online to continue their business or learn how to begin one. However, the path to successful business ownership is reserved for the few, the strong-willed, and lifelong learners.
Now, let’s get you on the right track.
Effective Training Programs for Business Owners
There are hundreds of training programs for aspiring business owners to choose from, so it really comes down to identifying which are best tailored to your educational needs. There are platforms that immerse entrepreneurs in extensive online courses that are designed to train entrepreneurs to better prepare them for their industry. The variety of training programs available is simply incredible. If you are just diving into entrepreneurship, there are training programs that teach the basics and methods absolutely necessary for your success.
These are some informative “tip of the iceberg” entrepreneur online programs:
CLASS CENTRAL https://www.classcentral.com/subject/entrepreneurship
For many people, these extensive online programs are only valuable to an extent. Having in-person training can help answer any questions that come to mind and help breakdown topics that need to be reiterated a couple of times. Business owners looking for in-person training can hire business coaches, look for mentors, and join insightful organizations. The Entrepreneur Organization is a renowned training program that provides the necessary tools to empower entrepreneurs to take the next step in their ventures. This organization holds conferences in 60 different cities around the world and is devoted to accelerating the growth of entrepreneurs that are accepted. If admitted into the organization, business owners have access to significant networking opportunities, useful advice from business professionals, and potential mentors in their field.
Check them out:
Worthwhile Business Education
When it comes to education, it really comes down to what path you are comfortable taking financially and mentally. Straight out of high school, some young entrepreneurs leap to pursue their passion without the restraint of an educational institution. Other aspiring business owners, take community college classes for two years and then transfer to highly renowned institutions to take well-taught business courses from seasoned business professionals/professors. In other cases, future business owners hope to gain a 4-year college experience to utilize the social networking opportunities, clubs, and alumni contacts that colleges provide. Ultimately, hoping to graduate from a recognized business school with a degree to show for it.
If you choose to make the economic decision of skipping out on college then rest assured there are free educational resources and training materials available online. However, two-thirds of current business owners have acquired some level of higher education. Specialized business owners, such as dentists, lawyers, and accountants, have an annual salary of $60,000 a year, that’s double the average business owner with an annual salary of $32,000.
Each path to education has its own advantages and disadvantages, but the truth is, most of what you can learn in school can be found online these days. There are countless free online courses that can answer questions every entrepreneur has. The websites mentioned above provide significant educational information. Here are some more popular educational platforms used by small business owners:
LinkedIn Learning https://www.linkedin.com/learning/me
Open Culture http://www.openculture.com/business_free_courses
The U.S. Small Business Administration https://www.sba.gov/learning-center
The United States is built by small business owners, which makes up for 44% of economic activity within the United States. Thus, the SBA provides in-depth business courses that can teach you the necessary business skills to run your own business.
Self-Education is Crucial
Regardless of how many hours you spend educating yourself, there is no better way of entrepreneurial growth than getting your feet wet. Experience speaks volumes in the business world, especially since entrepreneurship is all about trial and error. It is a guarantee you will miss something in your education or training. There are some challenges that no amount of education or training could prepare you for the struggles it imposes. That is why it is essential for aspiring business owners to take the reigns of their future and embrace failure on their journey to success.
The resilience and will to learn is what separates regular business owners from successful ones. Starting a new business is hard work, but with the right mindset, it can be one of the most fulfilling experiences you will ever have. As the great American philosopher, John Dewey, once said, “Education is not preparation for life; education is life itself.” Business management/ownership is educational in the way it forces individuals to solve problems and innovate past the competition.
The best advice to give to a business owner is that there is no concrete formula for success. Evaluate what type of business owner you want to be and make your goals a reality by using the abundant resources we take for granted in the United States.
Financing Solutions Small Business Line of Credit
Financing Solutions, an A+ and 5 stars rated BBB company, has been providing business lines of credit to small businesses and nonprofits since 2012. The credit line costs nothing to set up, nothing when not being used, and is inexpensive when needed making it a great cash back up plan.
All leaders of businesses and nonprofits want a line of credit, just in case but commercial banks have made it almost impossible to qualify for requiring collateral, high personal credit scores, and personal guarantees.
Financing Solution’s line of credit is unsecured meaning that it requires no collateral or personal guarantees. We are basing our decision to approve your organization based on your past and current cash flow.
In order to qualify you must be doing at least $400,000 in yearly revenue and the person signing the contract must have a 650 or better credit score.
Every leader wants a cash back up plan for their organization. Financing Solution’s business line of credit makes that possible for the first time and allows you to get it set up, easily so when emergencies happen, you have a backup plan.
For a no-obligation, 2-minute business line of credit quote please click here, and for a nonprofit business line of credit quote, please click here.