Contributed by Belynda Holt Pinto

Running a business can be exhilarating, but there are times where it can also be brutal and draining. Not only are you managing yourself, others,resources, finances, and projects, you are also trying to find time to build a better business.

Often when people open their own business they are good at what they do and think that it would be better to be their own boss, so that they can do jobs their way, and on their own terms. Making more money is also often a great motivator. What they often don’t think about when opening the business is how much “business work” takes over. Even though they did exceptional electrical work and loved it, they may not love and get excited about the business end of the job. But to run a good business takes a different set of skills and tools than they may have needed before.

The stress of not understanding how to run the business end of a job can take the joy right out of an industry that you love. So when you find yourself running on fumes, how do you fill up the gas tank to give yourself the energy and the skills that you need to take your business to the next level? The answer is training. Just like in the process of becoming a great electrician you trained on the job as an apprentice or hands-on with a master in the field, you may also consider creating your own “Business” apprenticeship program to learn the skills you need to succeed. Your business apprenticeship might include:

1. Talking to others that have managed a successful business.

a. Join your local chamber of commerce and become friends with other small business owners.

b. Contact SCORE, this is a group of retired executives that help small businesses for free or a nominal charge, you can find your local chapter at their site.

2. Your next step should be getting your business reading books in order. You have to understand basic business principles just like you understand Electrical Theory. The following books will help you in this education.

a. E-Myth – Michael Gerber. This book is a fundamental cornerstone of any small business. It will help you make the transition into being a business owner. His ideas for systemizing your business will help you with employees, with your stress levels and with building something viable that you could sell when you retire someday.

b. The 7 Habits of Highly Effective People – Steven Covey. This book addresses the fact that you are the company’s biggest asset. When you improve yourself and your habits, your company will make more money. His 7 habits have been taught successfully to companies both small and large and will have an immediate impact on how effective you can be and how big your business can grow.

c. The Psychology of Selling – Brian Tracy, and Secrets of Closing the Sale - Zig Ziglar. These books will help you understand how to master one of the most difficult jobs of running a business - getting more sales.

d. Mike Holt’s Electrical Estimating DVD program – This series will teach you the principles of Estimating and why it is so important to understand the process in order to make more money. Mike addresses break-even costs, profits, and how to be competitive. He also provides an overview of what to think about when selecting computer software.

e. Mike Holt’s Business Management DVD program – This program provides you with a series of topics in a workbook format to help you review major business elements and rate yourself in areas where you may need to improve. This is a great overview of general business topics and will spark creative ideas for how you can improve your business.

3. Finally, you want to get training courses. Whether these are local courses at the college on basic accounting principles, or coming to a live Mike Holt business seminar, going to a live class provides a lot of valuable insight on how to take your business to the next level.

Individuals who work on their business skills, find their business growing at a much faster pace, and enjoy the process even more. The more you know the more you will enjoy the business side of your job, the more the stress reduces, and the headaches go away.

These are just a few ideas of how you can grow your own personalized business apprenticeship. What ideas have you used successfully in your business development plan?

For assistance with your business apprenticeship please feel free to give us a call at 888.632.2633 to discuss.

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