What education is required to be a business owner?

Answer 1

It depends on what type of business you want to go into. Some people will have only a Grade 10 education (or, in the early 1900s lucky to have an 8th Grade education.) Now we can take business courses and it's always best to get a good accountant (CGA) to do the taxes at the end of the year so you must keep up your bookkeeping skills and be sure you pay all taxes and also keep receipts of business transactions and also learn the skills of possibly becoming an employer and what the rmployees rights are. Many people with a lower education have become millionaires by trial and error. good connections and a whole lot of luck. I have also heard (my husband is in the yacht business) that many millionaires have lost millions to gain millions and some lost so much they had to start from scratch. Sometimes it's a good idea (gives you an edge) to have a close and trusted friend become a partner with you and to be sure your partnership is drawn-up in contract by a lawyer. Often a partner may die and the other partner is left holding the bag, or, in many cases the spouse of the deceased may want to sell that share of the business. Take business courses and learns the ins and outs of business. Be sure you pick a good business (eg: computer games, technical, computer work for different companies (in home business which makes for a low over-head) etc.) It sounds mind-boggling, but, if you love what you do you'll usually be quite surprised at how well you do. Study the market out in the business world and see what's hopping and what isn't. Remember to always keep some spare cash in a special account for emergencies and don't start your business too quickly. I live in Canada and two young women started selling Mukluks (they are leather with fur on the top and come up to just below the knee) and decided to dye some of the leather in beautiful pastel colors. They not only wore them wherever they went, but sold them at Kiosks (small stands in malls) and sold door-to-door. Before they knew it women were coming up to them on the street and ordering and they had a thriving business and so much so, they were racing around getting much more help to get their orders out. The lady who wrote the Harry Potter books is another great story. She lives in England and while married she loved to write these stories as a hobby and when her husband walked out on her and she was left destitute her best friend told her to send one of her written stories in to a publisher and the rest is history. Most of the successful people out there have a lot of help and aren't always the brains behind the success (they hire people to do this.)

Answer 2

You need to know the business field that you want to try. You must know your advantage and what you lack of about the field.

From Business Growth Specialist, Ford Saeks:

"Your first place should be to have an idea that solves a problem... Next, you should develop your business plan so you can identify your revenue model, target prospects, menu of products and services and financial needs and projections.

The quickest way to bankruptcy is to "find a need and fill it". Yes, you read that correctly... because people don't buy what they need... they buy what they want... so "find a 'want' and fill it."

Here's a quick list of considerations (not all inclusive)

1. Business plan with financial goals and objectives
2. SWOT analysis & budget
3. Marketing plan
   • Include your value-propositions
   • target market profile
   • list your marketing mediums and methods
   • of course,... a website
   • social media presence on major sites like YouTube, LinkedIn, Facebook, Twitter, etc...
   • marketing calendar
   • publicity calendar
   • include both traditional and online marketing methods to influence, engage, connect and convert leads to customers.
4. Resources: Funding... figure how much you think you need and double or triple it.
5. Motivation: make sure you have big enough reasons "WHY" to drive the HOW TO activities
6. Model success: find a mentor or create or develop your own success library. There are no excuses, since you have access to the internet there are millions of resources on every topic imaginable.
7. Read books written by successful business tycoons, they'll teach you how to:
   • Get more customers
   • Increase the frequency of purchase / repeat buyers
   • Increase the average transaction
   • Reduce your expenses / automate processes / measure success
8. There are only 4 ways to grow a business:
   • Build your prospect database list.
   • Use free info products to build trust and credibility.
   • Offer them in exchange for their contact info,
   • Or give them away with up-sell offers to encourage specific action
9. Check with your local laws for business registrations, business format pros & cons, and licenses.

In some countries, especially the United Kingdom, there is special government support for new businesses. New businesses can receive grants or funding from the government, since new small businesses are a quick way to get countries out of the recession. Have a chat with a representative at your local government office, in the UK, you can visit the local Department of Works and Pensions branch to speak to someone for this advice.

Answer 3

you probably need to major in business