5 Ways to use your Education to Expand your Business

Lizzie Weakley

July 11, 2016

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Whether you are just starting a business or have run one for a while, here are five ways you can use your education to expand it. You acquired most of these are skills while earning your undergraduate degree, whether you majored in business or not. And while at the time you might've wondered how certain courses could benefit your future, these are some ways they can.

Organizational Skills For Planning
From your first semester in college, you had to organize your day to attend classes and study. Use those same skills to schedule your day or develop a business plan. Prioritize your day so you focus on revenue-generating tasks. Save the busy work like filing for later. Start your business plan by summarizing where your business is now and where you want to take it, according to the U.S. Small Business Administration.

Math For Budgeting
You've probably taken math or accounting at some point in college. Start using those skills to create and balance your budget. Sales aren't the only to increase profits. You must also minimize expenses when ordering products and selecting service vendors. Better still, determine how much you can allocate toward hiring additional employees. That way you can delegate more tasks and focus on strategies to grow your company.

Psychology for Research
Consumer behavior and psychology are two courses you may have taken that can help you better understand your customers. Use these skills to create customer surveys. Ask what customers like or dislike about your products, and use their suggestions to make the necessary changes in your offerings. There's no better way to expand your business than fully understanding what makes your customers buy. You may also better understand your target audience by garnering demographic data when conducting this research.

Creativity for Ads/Website
It's impossible to expand your business without advertising your products or services. Harness the creative skills you acquired in college to write ad copy that attracts buyers. Develop web pages that better inform potential customers how your offerings can benefit them. Even if you have a creative person in-house, you can still submit your ideas.

Get a Master's Degree
There's no better way to expand your business with education that obtaining a master’s of business administration. You will study functional areas such as marketing, finance, accounting and statistics, which can help you better understand what makes a business successful.

If you start using some of the knowledge you attained in school, you will be surprised what a positive impact it can have on expanding your business.