In the current business environment, one must always be eager to adapt and learn new skills in order to survive and grow. Here’s a list of 5 courses a budding entrepreneur must do to flourish in the current environment, keeping in mind the trends and skills essential in the present scenario.
1. Digital Marketing
With businesses taking over social media platforms to increase their reach and improve their customer relations, Digital Marketing is the need of the hour. It is a brilliant way to interact, build and promote the brand. The traditional ways of advertising like print, radio and tv ads are not as effective as email marketing, targeted ads, paid searches, etc. It is the new way of doing business and every entrepreneur must know how to grow their business this way.
On some business-friendly platforms like Instagram and Facebook, one can also use analytical tools to know more about their audience like geographical location, age range, gender etc which can give helpful insights about the target audience of the business.
The course includes Social Media Marketing, Email Marketing, Search Engine Optimisation, Google ads and Google analytics.
2. Successful Negotiation: Essential Strategies and skills
Starting a new business requires efficient communication and negotiation skills. Whether it’s negotiating prices and contracts with vendors, suppliers or the customers, pitching the business plan to potential investors, communicating with the stakeholders of the company, it always comes in handy.
In order to grow a business, every entrepreneur should know how to negotiate and build profitable relationships for the business. This course not only improves the business communication skills of the entrepreneur but also, helps him/her in identifying the interests of the other party while negotiating which successfully helps them in finding a middle ground efficiently.
3. Start-up funding
The first step of officially starting a new business is getting funding, convincing investors, banks, financial institutions that the business plan is viable and has the potential to grow. It is important for an entrepreneur to work on his/her pitching skills in order to communicate effectively with the potential investors of the business. He/she should also know the process of getting the funding and the different sources and instruments he/she can select from according to the nature of the business and the funds required.
4. Business Modelling/Strategy
This course is not only essential for the success and future of the business but also needed to pitch the business plan to potential investors. The mere idea, concept and product/service is not enough to attract investors. Such investments generally involve huge amounts of seed capital and therefore, investors like to study the business model to assess the risk, returns, viability, market research analysis, cost structure of the business to determine its potential.
5. Brand Management
In a world where customer loyalty and retention are the priority, this course would help an entrepreneur learn how to retain and build a relationship with its customers. With every brand’s focus on customer relations, this will give the entrepreneur an edge over its competitors if applied effectively.
Customers value brands that are transparent, environment friendly and ones that value their customers and their feedback. Brand Management not only helps in retaining customers but also helps in building long-term relationships with them, thus establishing a stable and loyal consumer base.