8 Lessons Business School Will Never Teach You

What is the best way to acquire business knowledge and skills for entrepreneurs? Continue reading to find out.

The quest for knowledge never ends for human beings; this is regardless of the status you might have attained in your lifetime. Little wonder, the popular saying that “we start to die the moment we stop learning”. Likewise in order for business owners, entrepreneurs and investors to be successful in any field of endeavour, it’s crucial to possess a full grasp of what is obtainable within the major areas of a business to easily manoeuvre through difficult times.

Most people assume that registering at a business school or reading outstanding books on business is the fastest way to gain business knowledge. Although not entirely wrong, there are many more important lessons that will help drive your business to success; most of which are never taught in business schools. Here are some of them:

Overcoming Loss Or Setbacks

Most business schools do not teach how to cope with setbacks. This is because the main focus is often based on sharpening your skills and knowledge. Hence, most of the training they offer revolves around soft skills and business growth ideas with practical examples. However, when the most challenging times in business arise, as a business owner, you will be left to manage the situation. This is because it’s believed that you must have already acquired the required knowledge to oversee the effective management of an organisation during difficult moments.

Customer Or Client Management

It’s very convenient for business schools to share numerous business secrets, ideas and examples or even steps to follow to achieve the desired result for your business when dealing with customer management. However, it should also be pointed out that every customer is unique. There’s no gainsaying the fact that they should be treated with respect and accorded the highest regard. As it is always said, “The customer is always right”. Therefore, it’s an open secret that each customer comes with his or her own behaviour. Some are choosy, rash, insulting or disrespectful. However, in all, the onus is on you to ensure that regardless of the behaviour displayed by a customer, you respond in a way that will make them return customers as well as refer their loved ones in need of your service or product.

First Impressions Count

The first impression is a core aspect of relationship management which many business professionals, artisans and entrepreneurs handle with kid gloves. Ironically it is a big determining factor on whether you will get another business deal or job offer from that client or even a referral.

Take, for instance, a custom fashion design business that contracts two items of clothing to a client for sewing and instead of sewing it in record time, they delay for two weeks and when they eventually complete the work, the result is bad. Will you ever give such a company a job again let alone refer them to another friend? This point will not be taught in a business school, it’s an attitude that must be developed from within if you truly want to experience success in business.

Sincerity of Purpose

The height of insincerity in the times we live is so alarming and disheartening. It’s shocking to know some businesses look for ways to outsmart, outwit and manipulate clients and prospective clients in deals. Albeit, it’s foolhardy for a business owner to undertake or agree to a business deal, or contract that they are not capable of completing or even go as far as to manipulate figures to a potential business partner or fail to deliver at the agreed time with the client.

Mixing Business With Pleasure

It’s safe to say that in every profession you find some individuals who experience and succumb to the dictates of emotions as well as the high demands of work. The point here is that work is work and fun, pleasure and emotions have their moments too. Hence, in order to be productive at work, it’s best to refrain from flirting with colleagues, subordinates, superiors or even clients at work. Little wonder some establishments have it as an organisational policy that two individuals in a company or branch can’t marry each other. Either one resigns or they devise an alternative move. The reason for this rule largely points towards productivity at work devoid of emotions.

Poaching Without Consent

This is one of the major unwritten or unspoken codes of business. Doing business behind the back of a partner can lead to the partnership being frosty.

Time Management & Punctuality

Time management and punctuality are two similar points which are part of the most important criterions to a business owner or entrepreneur whose eye is fully on the prize. Even if they’re mentioned in business schools, managing time and being punctual are values that should be imbibed by every success driven person as they are one of the scarcest commodities currently.

The Importance Of Good Communication

In any business, communication is critical both within the organisation and out. Poor communication can demoralise employees and reduce their productivity. This ultimately will affect the growth of your business as the client will eventually be forgotten or taken for granted. Clear lines of communication must be created and maintained and the connection to potential clients via your website and your social media profiles should contain the precise message you want to convey. If great communication is what you are after this can be done through a sound business mentoring and coaching program such as an online business mentoring webinar.

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