Whether you believe that entrepreneurs are born or made, small-business ownership requires you to perform diverse duties, some of which you may know very little about. The more skills and knowledge you possess, of course, the less paid assistance you’ll need. So, why not educate yourself?
Many community colleges and online universities offer basic business courses to adult learners, which can be completed at home, or in a classroom setting. The financial investment — often a couple thousand dollars per course — is bound to pay off in spades over the long term, especially in these four areas.
- Business accounting. Money and taxes are a part of life, but the more you know about them, the more empowered (and potentially profitable), you’ll be. Completing a basic business-accounting course won’t necessarily enable you to forgo an accountant, but it will school you on invaluable information, such as the four major types of financial statements and what each includes, the impact of common transactions, and how to determine the profitably, solvency, and liquidity of your business. All of these factors are fundamental to a businesses’ financials, and you’ll need to understand them when seeking loans, partners, or expansion. ... Read more