Why growth is important
INFORMATION, KNOWLEDGE VITAL You must continuously develop yourself – otherwise you risk redundancy through outdated practices.
They say learning never stops, which is quite remarkable considering all the years one can potentially invest in learning through primary-, secondary-, tertiary education (some as far as Phd level). It is a true statement however, because knowledge is perpetual – especially in today’s ever-changing fast-paced world.
New ideas, methods and concepts are introduced on a daily basis. Most of it might not concern you, but some of it will and as an entrepreneur you must find a way to continuously stay informed of current practices that affect your business.
Continuous professional development (CPD) is such a vital component of a successful entrepreneur, or any professional for that matter.
The ever-changing economic landscape – including new technologies, processes and regulations – requires you to stay abreast of current information and knowledge. CPD is so critical because it enables you to stay relevant, otherwise your knowledge as good as it may be, can become redundant … to the detriment of your business.
Therefore how do you keep in touch with current information and knowledge?
First, we have to separate information from knowledge. Information refers to daily events around the country that could affect your business. For example, a few amendments were proposed to the the Companies Act late last year. These new amendments will impact every business owner and it was critical for you to have caught that announcement and even possibly commented on the proposed changes when the department of trade and industry requested public comment.
Staying informed of current affairs requires you to follow the news through daily reading, watching television or listening to the radio, especially to news that concerns your business.
Knowledge, however, refers to your understanding of current trends, ideas and methods, including technological advancements, sales or financial management techniques, entrepreneurial tips and the current topical issue in the world: corporate governance.
You could continuously enrol for diplomas or degrees, attending weekend or night classes. However, consider if you have the time to study and if a lengthy degree is the solution.
You could continuously attend seminars, workshops and master classes. These are short, impactful sessions that give you specific insight on a particular subject that should give you a decent understanding, enabling implementation in your business.
Last, but not least, you could Google every topic you’re interested in for self-study. In an era where knowledge is readily available at the click of a button, it is easy to up-skill yourself through the myriad of books, articles, Wikipedia and YouTube tutorials on the internet.
Munya Duvera is CEO at Duvera Elgroup