Learn a Lot and Learn Fast

As you know, there is a lot to learn to become an entrepreneur. If you do not like to learn about a lot of different things, and learn fast, it is best to stay an employee or stay small in the S quadrant.

I have a friend who is a chef. She has her own catering company in the wine country of California. She works hard, has a loyal staff of eight, and makes a good income in the S quadrant. The problem is that the only educational classes she takes are more cooking classes. She is always competing against other chefs to win the hearts and stomachs of her customers. She has no interest in studying business or investing. She plans to work hard all her life doing what she loves, and staying small in the S quadrant. In simple terms, she is doing what she loves, which is to be a chef. But she is not doing what she must do to be an entrepreneur.

As you may have noticed, I believe the biggest little thing for entrepreneurs is the lifelong commitment to education. That counts more than anything else in life and business. In the real world, it’s the people who do what they need to do who beat out the people who only do what they love to do.

Doing what you must do, even if you do not want to do it, is a little thing that makes a big difference. In every case, that will mean studying and learning about subjects you may not love. Remember, you don’t have to be an expert. You just have to know enough to speak the language and eventually hire experts in those subject areas. Most community colleges offer courses in the most vital areas at reasonable prices, and there are countless books and online resources for you to use as well.

If you are committed to the Midas Touch, I recommend the following basic topics for ongoing study:

  • Sales training

There is sales training and then there is Blair Singer’s sales training. He teaches technique and much, much more. It’s the much, much more most entrepreneurs really need.

Others have had success starting out as part of a network-marketing company where you get real-life sales training.

  • Basic Business law

It’s extremely helpful to have a basic knowledge about the law and how it impacts your business in such areas as intellectual property, labor, environmental, tax, and contracts. This will save you a lot of money and headaches. It doesn’t mean you won’t need an attorney, but at least you’ll be able to speak the language.

  • Basic accounting

I teach the importance of the income statement and balance sheet. That’s an important start. A basic accounting class will teach you how to start off on the right foot with your business, or get things organized if you’re already in business for yourself. Again, you’ll still need an accountant.

  • Marketing and advertising

Before you invest in marketing and advertising activities, learn as much as you can about them. There’s a lot of information out there, in classes and books, as well as online.

  • Web, Internet, and social-networking

Take classes and keep up to date on the lastest happenings. This area is continually changing. Staying up to speed requires daily reading.

  • People skills

Join organizations and networking groups just to practice vital people skills. You have to be able to deal with different people and people with different business skills.

  • Technical investing

Take classes on technical investing, aka future trading. An entrepreneur must know how to make money in markets that are going up, and in markets that are coming down. To simply believe that markets only go up is naïve.

Remember, this isn’t about becoming an ‘’A’’ student in these subjects. Just know how these subjects interact in a business. You do not have to do these courses all at once. Just dedicate your life, over time, to continuously learn these subjects. Your lifelong commitment to learning is a little thing that makes a very big difference. We all know people who will promise to keep learning, but who fail to keep that promise. Keeping this promise is the little thing that counts the most. Remember, entrepreneurship has little to do with what school you went to. Success goes to the entrepreneur who keeps on learning, even when school is out.

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