Here are 4 reasons why learning is an essential part of the entrepreneur equation:
- You can write that sh*t off
Work-related education costs are fully deductible! What kinds of education qualifies? The IRS will look at whether the expense maintains or improves skills that are required for your business. This can be classes to improve your skills in your field, webinars that teach you how to onboard new team members, subscriptions that update you on news in your industry and so much more! If you are taking a class in person, you are even able to deduct the cost of traveling! If you want to see what the IRS says about this, click this link.
- Learning will add value to your business
It is humbling to take courses and to continuously be learning. Expanding your knowledge is how you add value to the work you do. Not only can you improve your services and offers through industry related education, but there is a wealth of business management and entrepreneur courses that can improve your business internally. For instance, you can automate your client onboarding or learn how to manage your team better. All of these things add value. Professional development is a responsibility for entrepreneurs. If you want to improve your systems and processes, you need to expand your knowledge.
- Learning from other entrepreneurs can expand your network.
The best programs I’ve found for my business have come from other entrepreneurs. Utilizing facebook groups and social connections can be mutually beneficial. Do you follow someone you admire? See if they have a course or webinar to take! Chances are if you like the way someone delivers their content, you might be able to learn something from them.
I’ve taken courses from tons of business owners in the online space. Not only has it allowed me to learn, but I’ve connected with so many entrepreneurs in the process. I can’t tell you how many times I’ve gotten potential clients from other business owners that I’ve met in the online space.
- Making time to learn will save you time in the future.
When people say, “I don’t have time to take a course”…. I respectfully roll my eyes. I know that the entrepreneur overwhelm is real, but listen to me on this one. YOU NEED TO FIND THE TIME. If growth is what you want, you need to improve your systems and operations. Learning is part of your small business success equation! Think about it like this… You spend 3 hours takingan online course on automating your client process. That automation then saves you 4 hours a week that you were once spending sending contracts and writing emails. That amount of time means you can be off earlier everyday to do the things you love. More yoga please!
If you feel intimidated by the thought of carving out scarce time, here’s what I do: I love my Fridays because it’s the day in the week that I intentionally keep open for flexibility reasons. I try to get all my projects and client work done earlier in the week. And when Friday comes around, I tie up any loose ends. I use Fridays as my learning day. And during that time, I learn. Some Fridays it’s 2 hours, sometimes it’s 4. No matter what I’m learning.
If a weekly recurring timeframe isn’t realistic for you, try to dedicate two days a month as a starting place. Block it on your calendar now so that you are more likely to commit. Remember, learning is an investment in yourself.
But Chika, how do I know which courses to take?
For me, I have continuing education as a requirement for being a CPA. That education is straightforward because it’s always gonna be tax-related.I also find myself needing way more than just tax related knowledge and so I indulge in other topics as well.I’m currently learning about the hiring process and how to improve my sales skills!
The education you invest in can be field specific or business management related. Take some time to reflect on the areas you could improve and go from there! Do you need more copywriting strategy? What about your client journey? There is no shame in getting that help and support from a course or program. The courses I’ve gained the most from have been about running a successful business, not the tax nerd stuff.
When you first start your journey of expanding your knowledge, don’t be discouraged if you take some courses that make you feel like “did I really just pay for that?”. It’s a learning process (no pun intended). Not everything we purchase lives up to our expectations. Take notes on why a program did not work for you and come back to your notes when searching for future programs to enroll !
Reply to this email with one learning resource that has helped your business. I’ll go first: The Done in a Day Virtual Conference is always amazing. Done in a Day is where I learned about VIP days (one of my favorite offers… if you’re curious click here) This conference always has amazing speakers and guests. Every year I make incredible connections with business owners who have similar offers. It’s always been a great place to ask questions and get support.
So, go out there and expand your knowledge. Your business will thank you.