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4 reasons entrepreneurs need online education

online education

There are some serious time wasters on the internet, including cat memes and bad lip syncing videos. These are not necessarily all bad things; every man and his dog seem to have a YouTube channel and they make it work. However, as an entrepreneur, it is important to know that the internet is loaded with useful content and tools that can give you the leading edge in your career.

If you’re an aspiring entrepreneur, or if you are looking for an online entrepreneurship certificate, you probably already know that the internet is a leading tool that can be used to stay current and up to date in your industry. Online education is slowly changing how people enrich their lives. It is a platform that has the ability to empower the world, with mere fingertips required.

Startups and new businesses just taking off require the internet in their daily existence. Follow us on our journey of discovery within entrepreneur news, and see why you simply must be online at all times.

1. Consider the cost

Online courses are far less costly than traditional brick and mortar establishments offering various qualifications. With traditional establishments already cemented into the history books for producing world leaders, online platforms, like small business ideas and solutions, are swiftly establishing themselves as world-class institutions.

The fact that everyone has access to the World Wide Web is what makes online education such a powerful tool. Anyone can be taught at a University level and graduate with a short course behind his or her name, for a fraction of the price. This makes it far easier to stay relevant or even enter into the workplace.

2. Online courses are practical rather than theoretical

Online education is hands-on, meaning that it is driven by results. Online institutions like MasterStart operates with the intention of empowering people almost instantaneously. This means that what you learn online can be used in the workplace, right off the bat.

Rather than focusing on a ton of theory, online education aims at penetrating the core of a subject matter. Once the subject matter is clarified, the course can teach the participant the fundamentals and build upon that foundation weekly.

3. Technology makes learning fun

Technology hasn’t just influenced traditional classrooms, it has allowed the world to engage with content in new and exciting ways. Useful tools like worksheets, peer-to-peer discussion forums, and interactive presentations allow for a unique learning experience, which each individual can optimise accordingly.

4. The classroom is everywhere

One of the biggest advantages of learning online is that you can choose where you would like your classroom to be. As long as you have a stable and constant internet connection; it doesn’t matter where you choose to learn. You could learn from your bedroom or in the park. Modern technology has made learning anywhere possible and that makes online learning exciting, intuitive and responsive to anyone’s needs.

Wrapping up

Online education is slowly changing the world. As an entrepreneur, a corporation or an employee, new technology has the power to change your life. Keep up to date with the latest trends and stay relevant in your field. With AI and fully automated processing technology creeping into the workplace, it’s always important to keep yourself a cut above the rest.

In places like Africa, online education is essential. Technology has bridged the gap for millions of people that can’t afford to attend traditional establishments. This empowerment and upliftment not only makes online education an exciting space, it makes it a tool that is gathering momentum at a rapid rate.

The common reasons why most startup businesses fail to grow

why start ups fail

You probably don’t want to be reminded – especially at this stage of your entrepreneurial endeavour, about the possibility of failure or early stagnation. As grim as the subject is; hearing the reasons why most small/startup businesses fail to grow, gives you, the aspiration for the best head start.

According to statistics published in 2017, the Small Business Administration (SBA), discovered that around one-fifth of startups fail within the first year. Interestingly enough, after investigating further, they found that there were a few common denominators/areas within the business’s which were being managed poorly, or neglected by the new business owners. These were likely the cause of the business’ deterioration.

Here are just some of the common ‘mistakes’ they uncovered which are the possible reason why so many startups fail to grow and in some cases, collapse.

1. Building a strong team is not prioritised

Many new business owners and amateur entrepreneurs fail to see the importance of building a strong team, especially during the start-up phase. They often think they can do it all on their own – and perhaps are incentivised by the cost-effectiveness.
Building a strong, competent team is crucial to the success of a business and, in fact, is most important during a business’s infancy years. This is because new ventures face many challenges; for example, limited capital and resources, as well as the challenge of breaking into the market. Without a strong team who have the skills and experience in building businesses from the ground up, the venture may be at risk of early stagnation.

2. Poor management and leadership

Poor management and leadership are one of the main reasons why startup businesses fail to grow. Most new business owners take on the role of a manager as they perform the management function in the beginning, however, they often struggle with the leadership aspect. With that being said, it is possible to get by on a good management approach even if the leadership aspect is not refined; however, if both areas are weak it is a major cause for concern. Some entrepreneurs are great visionaries and have exceptional business smarts, but are not strong managers or leaders. For the sake of the business, it’s important that they refine their skills in these areas. Luckily one can be taught how to be a great manager and an inspirational leader!

3. Budget allocations are managed insensibly

Startups often have limited capital and monetary resources which is why it’s imperative that money is handled sensibly. Certain important functions which will propel the business forward should be prioritised in the budget. These include areas such as marketing and staff for example – but this depends on the nature of the business. Many unsuccessful startups have allocated capital to the wrong areas and spent money on less important business functions. It’s critical that you identify your businesses fundamental needs and allocate money to these first.

4. Lack of business knowledge

This is an all too common ‘mistake’ in the startup sphere. While anyone can be an entrepreneur – it takes some business smarts to be a successful one. It’s, of course, impossible to know everything well – but that’s why hiring people who have strengths in certain areas where you may have weaknesses is incredibly important. However, if this is not possible, it’s imperative that you learn fundamental business skills so that you are able to carry the business forward. For example; marketing is one of the most important functions, but if you’re not aware of this, and are unable to execute successful marketing techniques due to your limited marketing knowledge, the business will surely suffer. Invest in yourself – in your skills and your business knowledge, so that you are able to give your business the best shot at success.

5. Poor customer relations

Your customer is your bread and butter. If you or your team fail to identify the importance of treating your customer well; communicating with them effectively, and listening to their needs and wants, you will have a hard time building customer loyalty and your sales will likely decline drastically. As a startup breaking into the market, you need to find ways to get the customer on your side. You need to give them a reason to leave what they know, and instead use your services or buy your product. Too many startups are caught up in the operations and keeping the business afloat, that they often forget the reason for what they are doing. The reason is: solving a problem – for who? The customer.

5 books every aspiring entrepreneur should read

Whether you’re about to take a leap of faith or not, I’m sure you can agree that it’s essential for us to feel motivated and inspired. To ensure we live fulfilled, meaningful lives we often need to be reminded that we too can make positive changes; that we too can take a shot at success, and that we are absolutely deserving of a great life. And what better way to feel inspired and motivated than to read books written by people just like us – who found themselves in similar positions, and who made a success of their circumstances?

Take a look at our top 5 must-reads for aspiring entrepreneurs:

1.The $100 Startup by Chris Guillebeau

He also reminds us that success doesn’t favour any one ‘type’ of person, it only favours those that grab hold of opportunities whether big or small;Chris Guillebeau reminds us in this fantastic read that you don’t have to be a trust-fund baby to achieve great success. those that work hard, persevere and are creative in their thinking. In this book, you’ll come across more than a few inspiring examples of ‘accidental entrepreneurs’ who identified and acted upon opportunities which lead to incredible success.Image result for the 100 startup

Favourite Takeaway: “To succeed in a business project, especially one you’re excited about, it helps to think carefully about all the skills you have that could be helpful to others and particularly about the combination of those skills.”

2. The Real Warren Buffett: Managing Capital, Leading People by James O’Loughlin

Image result for The Real Warren Buffett: Managing Capital, Leading PeopleThis book is of course a must-read, especially for aspiring entrepreneurs who want to start off on the right foot. Throughout this book Warren Buffett emphasises the importance of people and capital – he believes it is the core of a business and without these two factors there is no business. Author James O’Loughlin has perfectly described the key techniques Buffet has used throughout the years to balance these two worlds. He dives into Buffets decisions surrounding people and capital and later learns that Buffett recognises that this ‘talent’ has massively contributed to his monumental success.

Favourite Takeaway: “Focus on your customers and lead your people as though their lives depended on your success.”

3. Delivering Happiness by Tony Hsieh

Related imageThis book is primarily about the incredible rise of American online retail giant, Zappos and what it took for them to make over $1 billion in sales in less than ten years. Written by the CEO himself, Tony Hsieh, this book is written with immense honesty as Hsieh highlights even the ‘not-so-pretty’ parts of business and the hard lessons he learnt on the way to the top. Hsieh writes about the mistakes he made in business; the path to finding a balance between profits, passion and purpose and gives the reader incredible insight into how an enduring business brand is built, and how a strong company culture is established.


Favourite Takeaway
: “The best leaders are those that lead by example and are both team followers as well as team leaders. We believe that in general, the best ideas and decisions are made from the bottom up, meaning by those on the front lines that are closest to the issues and/or the customers. The role of a manager is to remove obstacles and enable his/her direct reports to succeed. This means the best leaders are servant-leaders. They serve those they lead.”

4. Losing my Virginity by Richard Branson

Image result for losing my virginity by richard bransonThis book is raw and real; and while it will teach you a thing or two about Richard Branson’s incredible business mind, it will also teach you the importance of just having fun and enjoying life. In this fascinating autobiography, Branson describes how he entered into the world of entrepreneurship; the decisions and choices he made – and is still making on his journey; and even details his ‘formula’ for success, which may just surprise you because it’s not all work – it’s, in fact, a lot of play too.

Favourite Takeaway: “I can honestly say that I have never gone into any business purely to make money. If that is the sole motive then I believe you are better off not doing it. A business has to be involving, it has to be fun, and it has to exercise your creative instincts.”

5. The Hard Things about the Hard Things by Ben Horowitz

Image result for The Hard Things about the Hard Things by Ben HorowitzBen Horowitz is one of Silicon Valley’s most respected entrepreneurs, and the co-founder of venture capital firm, Andreessen Horowitz. In his book, ‘The Hard Things about the Hard Things’ he reflects on his experiences with founding, running, selling, buying, managing, and investing in technology companies – and he is brutally honest about what it takes to be successful. This book is packed with the wisdom which will help you identify and navigate the problems that every entrepreneur encounters especially during their business’s infancy years. A lot of people boast about how great it is to start a business, but Ben Horowitz is honest about how hard it is to run one.

Favourite Takeaway: “Great CEOs face the pain. They deal with the sleepless nights, the cold sweats, and what my friend the great Alfred Chuang (legendary co-founder and CEO of BEA Systems) calls “the torture.” Whenever I meet a successful CEO, I ask them how they did it. Mediocre CEOs point to their brilliant strategic moves or their intuitive business sense or a variety of other self-congratulatory explanations. The great CEOs tend to be remarkably consistent in their answers. They all say, “I didn’t quit.”