Things business school won't teach you.
Sure, it helped a ton on my portfolio when I started my own company. It even pivoted my corporate ladder career before I jumped the boat of working for someone else. But, there are tons of important lessons that I had to learn the hard way.
Which really sucked.
Over the years, I have had stumbling blocks, and learned important lessons the hard way. Lessons that could have been avoided if business school was just a bit more thorough when it came to things that actually matter.
The good news is this article is aimed to help diminish the headache you will get when you hit your head on lessons business school won’t teach you.
Ready to learn more in 5-minutes then you did in three years at school?
Clients Don’t Care About Your Business; They Care About What Problems You Solve
At the end of the day, yes – building your brand is incredibly important. Developing trust within your target audience is critical. But when you attend a marketing course at business school, they talk about your business as if it is the only thing that your target market cares about.
Potential customers don’t care about your business, or your values. At least, not as a start-up. What they do care about is the problems that they are facing right now, and how you can solve these problems for them.
Which is why it is incredibly important to take the time to walk in your clients shoes. Understand exactly why they are looking for the service/product you offer, and pivot your marketing plan based on this.
Luck Is The Development Of Consistency And Hard Work
Looking back at my most stressful moments in business school, almost every time they were based on marketing plans or tests on the subject that I was petrified to write. Not because I did not know my work. But because even back then, I knew the school was talking complete hogwash.
The truth of the matter is no singular marketing plan guarantees sales. There are far to many variables. From your industry, to your target audience, to the social media boom of the year.
In fact, the only guarantee for success is hard work, and consistency. If you are able to focus on providing value to your target audience day in and day out in any way that you can. Well, then your business is bound to go far.
Chances Are You Are Going To Spend A Lot More Then You Plan
In business school, they operate under a closed market system. Which is why when it comes to launching a business – they focus on an A-Z plan that works. But the problem is the real world is not a closed system.
Whether its unexpected tax claims, a disgruntled customer, or an unexpected software you need to improve sales – the business world is jam-packed with financial peril.
Which is one of the reasons why only a third of 504, 000 businesses opened in America fail on a monthly basis.
That is why it is important to make sure you always have the capital for unforeseen expenses. An emergency piggy bank that you can crack open when trouble strikes. Learning more about title loans, and proper business credit management is also a good time-investment.
Finding The Perfect Business Partner Is Not A Simple Swipe Right Situation
Finding, and committing to a business partner is harder than marriage. Luckily, I am one of the few business owners that is lucky enough to have my best friend as a business partner. So, I was spared the ordeal of facing off on a partner I trust that let me down.
But this happens on a daily basis.
And it is heartbreakingly difficult to get through. Not just personally but also for your business.
Yet having the right business partner can make all the difference when it comes the success or failure of your business.
It is important to date-around. Take your time to find a partner with similar work-ethics, a strong moral code – and someone who is willing to put in the work when it is needed.
Here is a guide to help you find the perfect partner for your business.
You WILL Fail – It’s The Stepping Stone To Success
Business schools tend to make it a simple matter of doing X, implementing Y, and then expecting Z.
You will do X, take it back out again worry about D, while implementing Y and P, and then switching X around back to replace D while still trying to expect some other letter of the alphabet to spawn from the random combination you threw out into the market.
That’s just how business works. Sure, you can make calculated marketing strategies – but it is a fluid market, and nothing is ever guaranteed to work.
The important thing to do is learn from your mistakes, and implement it into your next business, or marketing strategy – a subject that was not covered in my tender as a student.