What Training Do Entrepreneurs Need?

A recent study shows a gap exists between skills entrepreneurs have and need. The study supported the idea entrepreneurs need additional education to succeed. The study found the largest gap in areas affecting creative abilities, financing sources, financial management, and accounting skills. Entrepreneurs find these skills difficult to obtain on their own, but education in these areas improves performance. More moderate gaps also exist in supplier management, employee management, fees and interest, finding a location, pricing products and services properly, operations management, and customer service. (Rosnani, Babak, Soaib, & Suhaida Abd,  2011).

Small business owners should consider these gaps between their skills and needs. Finding additional education can help the entrepreneur succeed. An entrepreneur does not have to find this training in a formalized educational program. The savvy entrepreneur can enlist a coach or mentor with experience in these skills. This approach allows the business owner to take advantage of new opportunities while learning on the job. Consider the skills in which you could use help.

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Rosnani, J., Babak, Z., Soaib, A., & Suhaida Abd, K. (2011). Entrepreneur training needs analysis: Implications on the entrepreneurial skills needed for successful entrepreneurs. International Business & Economics Research Journal, 10(1), 143-478. Retrieved from http://search.ebscohost.com/login.aspx?direct true&db=bth&AN=57937862&site= ehost-live

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