Lifelong learning

Lifelong learning key to business growth

3 LEADERS who commit to learning new skills will be in a better position to steer their business forward.

BY SMALL BUSINESS DEVELOPMENT accountants, lawyers and consultants, CORPORATION there are many other needs you could meet yourself, if you develop the right I n a constantly evolving environment, business owners who commit to learning new skills will be skills and knowledge. These can include learning how to effectively use social media, understand your business financials, and refine your business plan. better able to adapt to change and keep their business going in challenging conditions. Leaders who commit to learning new skills will be in a better position to steer their business forward, deal with challenges Many business owners feel that with and seize opportunities. all the responsibilities and Skills development is also tasks they already have, important to many employees, there is no time, need or and offering these sorts of capacity for them to learn new skills. However, studies have shown that adopting a ‘growth The SBDC offers a wide range of affordable skillsbuilding online workshops. opportunities can help you retain good employees for longer, as they grow with your business. mindset’ — believing that your basic abilities are not fixed, and committing to What sort of learning is available to small learning and developing over time businesses? — is an important attribute for those With business information readily who want to stay in business. People available these days, there are many with a growth mindset prioritise affordable ways to learn such as lifelong learning so that they can reading books and online articles, consistently develop new and useful watching videos or listening to skills to get ahead. podcasts. For those who prefer to The needs of your business can change over time. While you can always ‘buy in’ valuable professional advice and services from professionals including be instructed directly and learn with others, there are also short courses and workshops. At the other end of the spectrum, there are longer, more formal courses, such certificates and diplomas offered by universities and other learning providers. With a focus on keeping costs under control in a turbulent economy, there is significant demand for free and lowcost learning opportunities for small business owners. The rise of the internet and the social distancing changes due to COVID-19 has resulted in an increase in demand (and supply) of online courses and webinars. Learning this way enables students to participate in skills development from the comfort of their own home or office, while accessing subject matter experts who can answer questions and provide insight into topics. The Small Business Development Corporation offers a wide range of affordable skills-building online workshops as part of their support for small business owners in Western Australia. Their interactive sessions cover topics designed both for new and established business owners who want to add to their skills. The workshops are currently available free of charge to support small businesses through the disruption of COVID-19. A full schedule of upcoming courses is available at smallbusiness.wa.gov.au/

workshops

3TO succeed in small business, owners must be committed to growing and learning.

Organisations including Chamber of Commerce and Industry and networking groups also frequently organise affordable business skills courses.

What types of training should you do?

The best type of training for your business is a topic that addresses the specific situations that you encounter. Considering how you will apply and practice what you learn is essential to making sure your learning investment is worthwhile. Many people find they learn most effectively through handson opportunities, so it’s useful to put new skills into practice before they are forgotten. To decide what training you or your employees need to do for your business, ask yourself: • What am I trying to achieve for my business? • What are the gaps in knowledge or skills that are holding my business back? • What tasks could I cost effectively do myself in my business instead of outsourcing, if I had the skills? What am I interested in or inspired to learn more about, that I could apply to improving my business?

Making time for lifelong learning

Being a small business owner, you may feel time-poor and that you don’t have a lot of spare time to spend learning new skills. It is important to choose learning that fits into your available time, but to also consider whether you are using your spare time effectively. Recent studies show that Australians spend on average more than an hour and a half every day on social media and almost 14 million people have subscription or pay TV services.

By dedicating a small amount of free time to meet your learning goals, you can slowly but surely build your skill base. To succeed in small business, owners must be committed to growing and learning. Small business owners who are lifetime learners adapt to change more readily and can achieve great results for their business.

MORE INFORMATION

Visit www.smallbusiness.wa.gov.au workshops for more information about the practical and affordable business skills training on offer.

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