4 answers
shaun
Student
Oklahoma City, Oklahoma
1
Question
Asked
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What do you suggest I study to get better at business?
How do I manage a business for the future? What are the most important things to remember when starting a business? How long did it take to start your own(or how long would it take me)? Why are some things more important to remember then others when starting a business? I’m still young, but lately i’ve been interested in learning more about business and how there’s duh a wide variety of people in the business industries, and there’s so many opportunities.
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4 answers
Paul Goetzinger MPA
Academic and Career Consultant and Freelance Writer
751
Answers
Seattle, Washington
Updated
Paul’s Answer
I can probably take some experience from my own personal life.
I studied in a graduate program for administrative occupations, and one third of my courses were business classes. To better understand the various elements of the private and public sector you must know things like:
*Business Law and Contracts
*Finance
*Economics
*Taxes and Tax Law
*Accounting
*Marketing
*Business Leadership
*Labor Relations
*Behavioral Psychology and Organizational Theory
Hopefully, these will provide some insight for you to research.
I studied in a graduate program for administrative occupations, and one third of my courses were business classes. To better understand the various elements of the private and public sector you must know things like:
*Business Law and Contracts
*Finance
*Economics
*Taxes and Tax Law
*Accounting
*Marketing
*Business Leadership
*Labor Relations
*Behavioral Psychology and Organizational Theory
Hopefully, these will provide some insight for you to research.
Edward Fu
Director, FP&A
6
Answers
San Francisco, California
Updated
Edward’s Answer
Hi there!
Indeed, studying options provide wonderful opportunities, as highlighted in the previous comments. However, I'd like to suggest that you also consider exploring internship opportunities in the business sector. This will give you a firsthand experience of what it truly entails to be an integral part of a business. It's a fantastic way to gain real-world experience!
Indeed, studying options provide wonderful opportunities, as highlighted in the previous comments. However, I'd like to suggest that you also consider exploring internship opportunities in the business sector. This will give you a firsthand experience of what it truly entails to be an integral part of a business. It's a fantastic way to gain real-world experience!
Katherine Avery
Run a music studio and teach private music lessons; teach college-level religion classes
350
Answers
Spanish Fork, Utah
Updated
Katherine’s Answer
Having been a business owner myself, and studied a little bit of business in a college setting, but mostly just grown up with family members also in business, the two best resources I know of for helping you run a business or plan for one are Dave Ramsey's book EntreLeadership, and this workbook (https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf?lang=eng).
Jacob Taylor
Production Manager
521
Answers
Stafford, Virginia
Updated
Jacob’s Answer
It's great to hear about your interest in business and entrepreneurship. Here are some suggestions to help you get better at business, manage a business for the future, and start your entrepreneurial journey:
1. **Educational Foundation:**
- Consider pursuing a business-related degree such as Business Administration, Finance, Marketing, or Entrepreneurship. Formal education provides a strong foundation in business principles.
2. **Continuous Learning:**
- Stay updated with industry trends, emerging technologies, and market dynamics. Reading business books, taking online courses, and attending workshops can help.
3. **Networking:**
- Build a professional network by attending industry events, joining business associations, and connecting with mentors and peers. Networking can open doors to opportunities and valuable advice.
4. **Gain Experience:**
- Seek internships or entry-level positions in industries or roles that interest you. Practical experience will help you understand real-world business operations.
5. **Financial Literacy:**
- Develop financial literacy by learning about budgeting, accounting, and financial analysis. Sound financial management is crucial for business success.
6. **Entrepreneurship Courses:**
- Consider taking courses or workshops on entrepreneurship, which can provide insights into starting and managing your own business.
7. **Business Plan:**
- When starting a business, create a well-thought-out business plan. This document outlines your business goals, strategies, target market, and financial projections.
8. **Market Research:**
- Understand your target market through thorough market research. Identify customer needs, preferences, and pain points to tailor your offerings.
9. **Unique Value Proposition:**
- Differentiate your business by offering a unique value proposition. What makes your product or service stand out in the market?
10. **Legal Considerations:**
- Familiarize yourself with legal requirements for starting and operating a business in your area. This includes business registration, permits, and licenses.
11. **Financial Planning:**
- Create a solid financial plan that includes startup costs, funding sources, revenue projections, and a budget for ongoing operations.
12. **Marketing and Branding:**
- Develop a strong marketing strategy to reach your target audience. Building a brand that resonates with customers is essential.
13. **Customer Focus:**
- Customer satisfaction is key to long-term success. Provide excellent customer service and continuously gather feedback for improvement.
14. **Adaptability:**
- Be prepared to adapt to changing market conditions and consumer preferences. Flexibility is crucial in business.
15. **Patience and Persistence:**
- Building a successful business takes time and effort. Be patient and persistent in pursuing your goals, even in the face of challenges.
Starting a business can vary in time depending on factors like the complexity of your idea, industry regulations, and your preparedness. Some businesses can launch quickly, while others may take months or years of planning and development.
As for why some things are more important to remember than others when starting a business, it's because certain aspects, like legal compliance and financial stability, are foundational. Neglecting them can lead to serious issues down the road. However, every aspect of business is interconnected, and success often depends on how well you manage various factors simultaneously.
Remember that entrepreneurship is a continuous learning journey, and there's no age limit to start. Your enthusiasm and willingness to learn will be your greatest assets as you explore the world of business and seize the many opportunities it offers.
1. **Educational Foundation:**
- Consider pursuing a business-related degree such as Business Administration, Finance, Marketing, or Entrepreneurship. Formal education provides a strong foundation in business principles.
2. **Continuous Learning:**
- Stay updated with industry trends, emerging technologies, and market dynamics. Reading business books, taking online courses, and attending workshops can help.
3. **Networking:**
- Build a professional network by attending industry events, joining business associations, and connecting with mentors and peers. Networking can open doors to opportunities and valuable advice.
4. **Gain Experience:**
- Seek internships or entry-level positions in industries or roles that interest you. Practical experience will help you understand real-world business operations.
5. **Financial Literacy:**
- Develop financial literacy by learning about budgeting, accounting, and financial analysis. Sound financial management is crucial for business success.
6. **Entrepreneurship Courses:**
- Consider taking courses or workshops on entrepreneurship, which can provide insights into starting and managing your own business.
7. **Business Plan:**
- When starting a business, create a well-thought-out business plan. This document outlines your business goals, strategies, target market, and financial projections.
8. **Market Research:**
- Understand your target market through thorough market research. Identify customer needs, preferences, and pain points to tailor your offerings.
9. **Unique Value Proposition:**
- Differentiate your business by offering a unique value proposition. What makes your product or service stand out in the market?
10. **Legal Considerations:**
- Familiarize yourself with legal requirements for starting and operating a business in your area. This includes business registration, permits, and licenses.
11. **Financial Planning:**
- Create a solid financial plan that includes startup costs, funding sources, revenue projections, and a budget for ongoing operations.
12. **Marketing and Branding:**
- Develop a strong marketing strategy to reach your target audience. Building a brand that resonates with customers is essential.
13. **Customer Focus:**
- Customer satisfaction is key to long-term success. Provide excellent customer service and continuously gather feedback for improvement.
14. **Adaptability:**
- Be prepared to adapt to changing market conditions and consumer preferences. Flexibility is crucial in business.
15. **Patience and Persistence:**
- Building a successful business takes time and effort. Be patient and persistent in pursuing your goals, even in the face of challenges.
Starting a business can vary in time depending on factors like the complexity of your idea, industry regulations, and your preparedness. Some businesses can launch quickly, while others may take months or years of planning and development.
As for why some things are more important to remember than others when starting a business, it's because certain aspects, like legal compliance and financial stability, are foundational. Neglecting them can lead to serious issues down the road. However, every aspect of business is interconnected, and success often depends on how well you manage various factors simultaneously.
Remember that entrepreneurship is a continuous learning journey, and there's no age limit to start. Your enthusiasm and willingness to learn will be your greatest assets as you explore the world of business and seize the many opportunities it offers.