7 Courses to Take for Small Business Management
Whether you already own a business or plan to someday, you’re probably not yet an expert on everything you’ll need to know to be successful. You need some basic understanding of operations, finance, and marketing. The good news is that you can learn the fundamentals in a Small Business Management Associate degree program. The courses covered there can provide you with knowledge, skills, and confidence. Are you ready? Here’s what to expect:
A class in entrepreneurship will teach you how to start and run a business. You will learn about market research, feasibility, competitor analysis, incorporation, and how to develop new products that meet the needs of future customers. The class might also discuss how you can develop a spirit of “intrapreneurship” within your company to inspire employees to come up with new ideas and better ways to operate the business.
2. Business Plan Development
A business plan is your roadmap to success for any new venture. It should spell out in great detail your revenue and expense projections for the next five years or more. A good business plan will describe how you plan to achieve your goals through your marketing and new product development programs. It’s a valuable tool for you and lenders and investors will require you to have one before they provide you with capital.
3. Small Business Management
You might need to be the “jack of all trades” in the early days of running your new business. Classes in small business management will train you how to:
- Find the right location
- Hire and train the right people
- Purchase equipment and materials at the best price
- Implement business efficiencies to save time and money
- Manage your inventory
- Deliver finished products on time at the lowest possible cost
- Keep track of your finances
Without understanding the money of the business, you can’t earn a profit. An accounting degree or certificate will teach you about pricing, payroll, bookkeeping, taxes, inventory control and how to track your revenue and expenses. Accounting classes will also cover the latest software applications used by small businesses.
Economics courses provide you with the big picture on supply and demand and how it affects your pricing. You’ll learn about monopolies and how companies gain market share. You will also learn what causes a recession and how to prepare for and survive one.
6. Customer Service
You can offer the greatest products and services in the world, but if you don’t treat your customers well, they won’t come back. In these days of online reviews, it is more important than ever to meet your customers’ needs and to treat them like you would want to be treated. Courses on customer service will address how to develop a good return policy and what to do if someone is dissatisfied with your product or service.
A key to success for any small business will be to develop effective marketing. You need to understand how to use advertising and marketing initiatives to spread the word about your great products, with an emphasis on utilizing social media.
At National American University, we offer an online Associate degree in Small Business Management that will provide you the skills you need to become a successful small business manager. Call 800-209-0182 to speak to a counselor or fill out the form to request more information.