Lynn Bennett Area Director UGA SBDC at VSU lbennett@georgiasbdc.org
As we start a new year, I am reminded that the new year brings New Year’s Resolutions. We want something to be different…better. One of the most popular resolutions is to get in shape. We’ve all heard or used the excuse “I don’t have time.” The same can be said for small business owners who know they need to expand their knowledge base in order to grow and be more successful but feel as though they just don’t have the time to learn.
Getting in shape requires time and dedication. To stay in shape requires commitment.
A small business owner spends a great deal of time working “in” their business carrying out the daily tasks and has very little time dedicated to work “on” their business. Making time to continue your business education is the key to working smarter, not harder, and can help you gain a competitive edge.
Here are three key reasons small business owners should make time to continue learning:
The Ever-Changing Business Landscape
“If it doesn’t challenge you, it doesn’t change you.”
How we do business is constantly changing and competition is fierce in today’s global market. Entrepreneurs must adapt to constantly changing market demands. It can be challenging to learn about new ways of doing business. Take digital marketing for example. How to properly use social media to market small businesses is a moving target. Should you use Facebook, Twitter, Instagram, LinkedIn, or a combination of these or something else? Failure to strengthen your knowledge on new marketing platforms and how to use them to gain market share could be detrimental to your small business. Gaining cutting-edge training on these topics and more allows you to take what you learn, put it into action, and see immediate results.
Growing Your Business
“The pain you feel today will be the strength you feel tomorrow.”
Managing your company when you first start with a couple of employees is completely different than having six-digit sales revenue and 15 employees. When companies reach this level, the owner of the small business must evolve from handling daily tasks to managing employees and strategically planning for the future. Taking the time to learn new management techniques and how to balance all of your responsibilities can give you a new perspective. While growth can be painful, personal and professional development can improve your leadership skills, make you a better manager of your employees, and help you make a difference in your company.
Opportunities to Network
“Stretch yourself and learn”
Educational programs can provide great networking opportunities and connect you with contacts that become a valuable resource. Colleagues may become a future funding source, potential partner, marketing advisor, or even a future board member. The environment can serve as a sounding board to discuss your concerns with other business owners who can share their knowledge and possible solutions for business issues you may be experiencing. Take advantage of training that can open the door to other resources available including the local Small Business Administration district office, SCORE (Service Corporation of Retired Executives) chapter, Small Business Development Center, or Women’s Business Center.
Conclusion
“No pain…No gain”
When it’s all said and done, it’s about making a difference. Dedicate time this year to get your business into shape. The passion that motivated you to open the business is the same passion that can drive you to keep learning, keep growing, and with a little sweat equity you will make your business the best it can be in 2018.
The University of Georgia Small Business Development Centers offers a variety of low-cost small business training courses throughout the state. To find out about training classes offered in your area, visit www.georgiasbdc.ort/training.