What business courses should I take?

[RenoR]

I am currently working as a 2nd year electrical apprentice. I'm only 18, and I'm making fairly good money (20$/hour). As a kid, my parents always told me not to get caught up in the "paycheque" mentality where you work for a boss who pays you a set rate. They always pushed me in the direction of self-employment or sales. I have always been a very charismatic person and I find talking to people extremely easy. I'm hoping to make enough money this summer to pay for a good portion of my schooling. I still have no idea which route to take in regards to courses in business. Which professions are most rewarding/profitable?

 

[Matt]

what do you want to do? Get some better business acumen so that you can run your own electrician/electrical business? Or get out of the trades altogether?

 

[munchausen]

If you like electrician work (and it's good work, for sure) then why not get your master electrician's certificate, find a good job and learn from the people running the show as you save enough money to open your own shop? If running your own business is what you want, I would bet your prospects of doing that are better than a bachelors in accounting or whatever, and in a shorter amount of time too. You might never get rich, but if you are smart and hard working you could make a very good living and be working for yourself. And once you've made a little money you can start investing in the market and in other types of businesses.

I say this because my dad did exactly that. Never went to college at all, and he's a millionaire now.

 

[RenoR]

Thanks for the great advice, I was actually thinking about opening up an electrical company but the thought seemed so far fetched and difficult to achieve. I would mostly take management and entrepreneurial courses for that right?

 

[munchausen]

College isnt likely to make you a good electrician shop owner. I would spend that effort working your ass off and getting promoted to foreman. Find a job at a shop thats doing really well and get to know the owner, find out what he does to make the business successful. Get to know some of the builders and big property owners in the area and make some contacts, get used to talking to business people and learn how to appeal to their interests. Let your bosses know what your ambitions are. Old men admire ambition in young men, as long as it's accompanied by a strong work ethic, and they will likely give you some good advice about what you need to do. And of course work as much as you can and save as much as you can. Keep your credit good. Once you're ready, you can go ahead and get started, no school necessary.

Not saying don't go to school. There are reasons for education that don't involve learning to do a job. I'm just saying if opening an electrician business is your primary interest, college isn't the best way to get there.

 

[Matt]

the above is good advice, and I am not contradicting it. He's right - learn the **** out of what you do first. You're only 20. You have nothing to sell yet, so learning sales skills is of little value until you have mastered your craft.

Here's the good news....the most independently wealthy self-made dudes I know are tradesmen. This is because while the rest of us were piling up university debt, they were being paid for their education as apprentices. Then they went out and bought their first ****** ass house - which they got together with their friends from trade school and bartered off the renovations (ill rewire yours if you restump mine). Then they rented out house one so the tenant paid the mortgage and used it as collateral against house 2...and round we go again. You are on a good track kiddo.

So, back to the question...there are some key areas you should become well acquainted with for running your own business.

This doesn't mean you should race out an enroll in a university, but you should become well versed in some accounting and marketing for your own business. I'd probably put those two at the top of my list for you given your stated ambitions - learn how to read the numbers, and how to promote the place to your key markets.

For what it's worth, I am 15 years your senior and did study business, of late I have decided I needed to brush up on a lot of areas, and have been grinding through a lot of the reading at personalmba.com - some great recommendations there for books on lots of different areas of business and management for the autodidacticly-inclined. Download some e-books on to your phone and read them while you are cruising around between jobs in the electrician van (I'm assuming you're in the passenger seat, no master tradesman would ever let his apprentice drive lol)...you'll be off to a good start while investing minimal time and minimal money.

 

[HgaleK]

Originally Posted by RenoR

Thanks for the great advice, I was actually thinking about opening up an electrical company but the thought seemed so far fetched and difficult to achieve. I would mostly take management and entrepreneurial courses for that right?
Brb

 

[Elusive]

Finance is essential buy the basic books online such as idiots guides etc get comfortable and see how these books apply to your area of expertise once you start seeing the patterns and connections between theory and practicality you will know whether you actually need to acquire an education

 

[chut6]

I graduated with a business degree majoring in marketing and I must say that it was a good experience and I learnt a lot of valuable information. One complaint that I do have was the lack of focus on online businesses and marketing (especially since that's the industry that I am now in!).

If I were you I would definitely suggest taking some e-commerce / social network marketing courses as these mediums are proving to be very effective and don't appear to be going away.

If you keep up with getting good work experience and start to throw in some business courses, I would say you are on the right track.

 

[Hortensia]

Hi,
Finance is essential buy the basic books online such as idiots guides etc... get comfortable and see how these books apply to your area of expertise once you start seeing the patterns and connections between theory and practicality.

 

[acidboy]

I find courses on business communication an overlooked and yet very important part of business education.

 

[Nicola]

Originally Posted by RenoR

Thanks for the great advice, I was actually thinking about opening up an electrical company but the thought seemed so far fetched and difficult to achieve. I would mostly take management and entrepreneurial courses for that right?

You need to start with a basic accounting/bookkeeping type course. If you can't keep track of the money you'll only have problems. This doesn't have to be a college level course. When I was a kid even HS accounting courses covered everything you needed to know.

I'd take a basic business law class. You don't want to become a lawyer but you need to know enough to avoid the lawyers most of the time.

I'd take a basic intro tax course. You don't want to become a tax accountant either but you need to know enough to protect yourself.

 

[Blazerd]

Human Resources business has very bright future. One of the most crucial requirements of someone interested in HR employment is being a "people person." If you're interested in HR positions, you must have to do HR Business Course.

 

[TourbillonTurk.]

Master the Trade first by being part of the paycheque system at the bottom. Work your way up and gain the invaluable experience one has in working directly in the field ...When you believe you are ready to venture into the trade a importer/exporter or even trader of the goods then no doubt follow your family´s advice and break free of the paycheque mentality ; )


Btw, I applaud your parents for telling to avoid the paycheque mentality nice and early !

 

[guster]

2 Key skills in any owning/running any type of business...
Finance and communication

I would start with finance. Amazing how many small businesses fail because they don't understand cash flow. Had a good freind and a relative that were both great communicators and skilled electricians. Both eventually failed at their businesses because they did not put enough time in at understanding the importance of working capital in a business.