When you start a business, your chances of succeeding in that
business depend heavily on your sincere commitment to continuous
learning and innovation. Many smart entrepreneurs know this. They also
know that we all live and work in a world that is rapidly changing.
Because many economies are becoming increasingly information-based,
knowledge has become king. Market competition is now outrageously
fierce. It is only those who have the knowledge and are well-informed
that survive in the market place these days. They are able to survive
because they habitually invest in the acquisition of relevant knowledge
to their businesses. They as a result are able to maximize their
earnings. These are the smart entrepreneurs now making waves all over
the world.
The core knowledge about any business is extremely valuable to that business. In some cases it is this knowledge that gives any business its major competitive advantage over its rivals. Entrepreneurs who know how to learn and to use what they learn to improve on their products or services stand at an advantage over others. If they are able to deploy that knowledge to create highly marketable products or services, they get the largest chunk of the market share. They tend to make most of the money as a result. Those who are unable to learn and use what they learn to improve their businesses quickly find themselves broke and many soon go out of business. That is how important knowledge is in the day-to-day running of any business.
There are always many areas in a business an entrepreneur may choose to continually invest in. The best of these areas is always on the entrepreneur herself. That investment is in the form of knowledge and continuous learning. Any investment on the entrepreneur apart from being the best investment is usually the most valuable. In today's fast-paced business world, it is investment in knowledge that is about the only investment which is capable of making returns in perpetuity. It is the only investment you can never lose. A business is what the owners know and are able to use to meet customer satisfaction. Entrepreneurs who succeed to make money never stop acquiring specialized knowledge related to their businesses. They always strive to keep up with the trends in their chosen businesses. That is how they get to acquire a larger market share and as a consequence make more money.
Smart entrepreneurs know the importance of knowledge and continuous learning to their businesses. That is the main reason why many spend some good chunk of their annual investment budgets training themselves and their employees. When you examine the books of such businesses at the end of each accounting year, what you normally find is that the money spent for additional training pales into insignificance when compared to the volume of additional business the entrepreneur is able to accomplish within the same period. Some entrepreneurs are at times wiped-out completely within the year when they fail to learn from trends. Some may barely break-even. While some others who studied and went with the trends may end up making all the money. It is for this reason that investment in knowledge is an extremely wise, desirable and economical thing to do in the course of any business. It is through the continuous investment in and acquisition of relevant knowledge that smart entrepreneurs manage to maximize their incomes continually.
The core knowledge about any business is extremely valuable to that business. In some cases it is this knowledge that gives any business its major competitive advantage over its rivals. Entrepreneurs who know how to learn and to use what they learn to improve on their products or services stand at an advantage over others. If they are able to deploy that knowledge to create highly marketable products or services, they get the largest chunk of the market share. They tend to make most of the money as a result. Those who are unable to learn and use what they learn to improve their businesses quickly find themselves broke and many soon go out of business. That is how important knowledge is in the day-to-day running of any business.
There are always many areas in a business an entrepreneur may choose to continually invest in. The best of these areas is always on the entrepreneur herself. That investment is in the form of knowledge and continuous learning. Any investment on the entrepreneur apart from being the best investment is usually the most valuable. In today's fast-paced business world, it is investment in knowledge that is about the only investment which is capable of making returns in perpetuity. It is the only investment you can never lose. A business is what the owners know and are able to use to meet customer satisfaction. Entrepreneurs who succeed to make money never stop acquiring specialized knowledge related to their businesses. They always strive to keep up with the trends in their chosen businesses. That is how they get to acquire a larger market share and as a consequence make more money.
Smart entrepreneurs know the importance of knowledge and continuous learning to their businesses. That is the main reason why many spend some good chunk of their annual investment budgets training themselves and their employees. When you examine the books of such businesses at the end of each accounting year, what you normally find is that the money spent for additional training pales into insignificance when compared to the volume of additional business the entrepreneur is able to accomplish within the same period. Some entrepreneurs are at times wiped-out completely within the year when they fail to learn from trends. Some may barely break-even. While some others who studied and went with the trends may end up making all the money. It is for this reason that investment in knowledge is an extremely wise, desirable and economical thing to do in the course of any business. It is through the continuous investment in and acquisition of relevant knowledge that smart entrepreneurs manage to maximize their incomes continually.
Sule Yesufu, a Certified Speaking Professional, is a Strategic
Partner in S D Y Management Consult, a firm of Investment, Small
Business and Entrepreneurial Consultants. An expert in Small Business
and Personal Development, he focuses on communicating his ideas and
thoughts mostly through his Training Seminars and popular free blog. He
offers useful tips on Self-Improvement, Personal Finance,
Entrepreneurship, Current News, Politics and Business in Nigeria, the
most populous country in Africa.
No comments:
Post a Comment