Invest in Your Business
Through Education

by Linda Hanson

Make the most
of networking
opportunities
hosted by
professional,
community
and civic
organizations.

Business owners: Close your eyes for a moment and imagine.

Imagine a world where you had enough time to work on your business, rather than simply working in your business. A world where you could focus on growth and management, instead of the daily grind and minutia.

If you’re like most success-minded entrepreneurs I know, you think this world exists in the same magical fantasy land where children clean their rooms without prodding, chocolate cake is part of a well-balanced diet and everybody gets a puppy for their birthday.

Although finding time in a jam-packed schedule to invest in entrepreneur education is tough, it is essential to the long-term health of your business.

But you’re a smart business owner and you know that. We all know that continuing education is theoretically a good thing. We also know that we should exercise regularly and take more vacation. The trick is figuring out the most efficient and practical way to invest in something you know is beneficial.

So what exactly should you do? What kind of courses should you take?
Where should you turn for help?

Of course the answers to these questions are unique to each entrepreneur’s previous experience, knowledge and needs. But generally speaking, here are a few things to consider.

Since we’ve already established that your time is a precious and limited resource, look for high-impact, and precisely targeted classes and seminars. While we can always use refresher courses in basic skills, invest your time in bolstering weakness, rather than increasing strengths.

One of the best ways to identify areas for growth is to network with your fellow entrepreneurs. Make the most of networking opportunities hosted by professional, community and civic organizations. A friendly conversation with peers can be quite revealing, helping you understand the areas where your business excels and places where you could use a few pointers.

Of course, we can all list a few of the usual suspects who host these kinds of programs. Professional associations and local educational institutions sponsor a wide variety of fine programs. But are those your only options?

What about your bank or other trusted advisors? Do they offer opportunities for entrepreneur education? Not programs that simply educate you about the bank’s products and services, but programs that help you grow as a business owner.

It only makes sense that your bank would invest in your success. A trusted adviser such as your banker should know you and your business well. They understand your needs and your frame of reference, which can help you decide where to allocate your most precious resource: time. What’s more, successful companies make for better clients and that translates into better opportunities for all.

Being an entrepreneur requires an ample supply of talent, strength and passion. The entrepreneurial spirit is an excellent indicator of all three qualities, but don’t let that lead to complacency.

Kansas City is a great place to be an entrepreneur. We enjoy a proud Midwestern work ethic, a relatively low cost of living and a central location that is ideally suited to promote growth in all directions. In addition, we are home to many fine colleges and universities and to the Kauffman Foundation, the nation’s only large foundation focused on promoting entrepreneurship.

You already have a great foundation, live in a wonderful community and are surrounded with excellent resources. If you regularly invest in education to make yourself a better business owner, you will undoubtedly be rewarded with a lifetime of financial success.

Linda Hanson is president of the Kansas City region of Enterprise Bank & Trust. She can be reached by phone
at 913.663.5525 or by email at lhanson@enterprisebank.com.