When I was young, every second person I met advised me to go for a management course. I was young and had limited information about the world. I was carefree but exuberant. I wanted to set up my own business, and I used to believe that I knew everything related with running any business successfully. With that level of self –belief, it could go two ways. Either I had created a big business, or had simply failed and broke up. The latter happened to me.
I started my own trading business with limited capital, and despite my energy and confidence, I made many stupid mistakes. I ended up filing for bankruptcy. I took a break to reflect on what did I do wrong. After months of reflections, I concluded that I made crucial mistakes, and did not have the vision or skills that were required to run my own business.
Fast forward five years, now I am running my own business. I have a service marketing company, and I mostly work with overseas clients. In the last five years, going back to school and finishing my management course was the single best decision that changed the course of the way for me. I now can say that having an MBA or PGDM from a top Management Institute matters.
Here is how a management course can turn the tide:
It polishes your business acumen:
Establishing a business that proves to be successful depends largely on the business acumen of the owner or entrepreneur. Business happens in moments. Rather than dwelling, it’s essential to decide between ‘Should I’ or ‘should I not.’ A Management Course prepares you to make critical decisions that set the course of the business. You develop a vision and can plan in the long term. It also establishes a firm understanding of the interaction of different stakeholders in a complex business environment.
It makes you a better manager and a leader
Management Education is not limited to business only. It also makes you a better manager. You learn how and what to communicate. How to manage people and resources. You also pick up skills like delegation, motivation, and directing.
You learn the business in its entirety
In business, many forces interact at a different level. You can’t run a successful business only by learning finance, or marketing, or logistics. Business education aims to inculcate in-depth knowledge of various domains so you can understand and appreciate the big picture.
You learn what not to do
It’s important to know what to do, but knowing what not to do is what makes the real difference. By pursuing a Management Course, you can realize pitfalls to avoid, and mistakes before they are made. So it gives you leverage.
I have just scratched the surface here. If you want to understand what management can do for you, I suggest going through the detailed course content. You learn about Finance, Marketing, consumer behaviour, leadership, people management, business management, and more such concepts. The best thing is that you get to practice what you learn. That reinforces the learning deep inside you.
In my case, I related everything that I learned with what I experienced. That helped me to pinpoint my mistakes. Hence, in my current venture, I made sure that I am not repeating the same mistakes that I once made.
Such was my case