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    2 Replies Latest reply on Mar 24, 2010 12:56 PM by Virgo24

    Best way to educationally prepare for my start-up

    Virgo24 Newbie
      Hello - my target opening date for my retail boutique is March 2011. I have a comprehensive biz plan and have had great interest from different souces but I wanted to take this year to prepare myself well. I have worked in office/admin jobs since 1994 and only held one retail job back in highschool. I really want to ensure that I am well prepared and that my small business succeeds. My only recent education has been a "business administration" course but I feel more comprehensive and targeted training is needed. Therefore, can you tell me what you'd recommend that I take this year in order to be well armed. The courses that I am currently looking to take are:

      1. Small Business Management
      2. Marketing
      3. Retail Marketing
      4. Quickbooks Pro

      I guess the best way to determine this is to look at this from the "lenders" perspective - with the above noted, would you feel I am well prepared and would you be confident that with the above noted I would be successful?

      Thank you,
      Regan
        • Re: Best way to educationally prepare for my start-up
          bpfinance Adventurer
          Well, first of all, congratulations on making the leap to start your own business. You are taking a very important step by learning to swim before you jump in the water.

          Unless the Quickbooks class includes accounting education, an introductory accounting class is almost mandatory and you should take that before you take the Quickbooks class. Using Quickbooks requires at least a basic level of accounting knowledge and because it uses the double entry method it can become very confusing to people who don't have a basic knowledge of accounting.
          You should also take an introductory business law class. While you may not find law interesting at all, and even if you plan to hire a lawyer, a basic knowledge of law is essential in running a business. Plus, you may find that you do enjoy studying law.

          What exactly did the small business management and business administration classes cover?

          You may want to look into an optimization class if you have the time as well as a finance class.

          Are there any networking classes that you could take?

          Economics classes are always good to take, but not entirely necessary to start your business.

          Make sure you are open to suggestions from co-workers, friends, and family, but try to separate yourself from people who are not providing advice but are simply dismissive of your idea.

          If you need any additional assistance now or when you get your business up and running, feel free to contact me:
          forumresponse@brienprivatefinance.com

          Jeremy Barfield
          Chief Forum Response Correspondent
          http://www.BrienPrivateFinance.com
            • Re: Best way to educationally prepare for my start-up
              Virgo24 Newbie
              Hi Jeremy:

              Thank you for getting back to me and providing such helpful information. Yes, thankfully I do have some basic accouinting skills as I worked for a chartered accounting firm for close to 7 years, and I've done some bookkeeping in my time, also. Business law is also something that I may find helpful/useful and likely interesting as well. As I feel limited on time, however, I feel I need to select my courses carefully as to optimize my time and to get as much behind me as possible so I can run my business effectively and properly. I suspect there will be much that I will still have to learn and I know I will continue to take courses as I need to.

              I have had such great feedback about my retail boutique and this boutique will be the first of its kind so I'm already ahead of the game:-)

              Regan