"I have my own business, and I don’t rely on job-promotions like these corporate geeks. Why should I learn new skills? I know my job and that should be enough."
I’m sorry for you if you think this way.
The market is evolving at an exponential rate. Technology is changing every day. No business can run without upgrading their systems or implementing new methods. You can connect with anyone, even if you are locked in. The world is getting flat and flat with each passing day. Competition is at its peak and getting bigger as time goes on. The next generation of kids or business owners will have super agile methods in the virtual space to get business done. Keeping up with the times is the only way to survive and grow.
Upskilling for your business
Upskilling is not just about taking a certificate course from a reputed institute. Learning new things, new ways, new tools without a certificate also comes under upskilling yourself.
If you are selling a product, then you need to improve it with time, introduce new designs and features.
If you provide a service, you need to change your process to meet the demands of new customers.
You have competitors, you can’t be the only one selling the product, if you are the only one then there is no market for it unless it is a revolutionary improvement in technology or an environmentally related product.
Keep an eye on your competitors, and constantly improve your products and processes. Learn new marketing strategies, you cannot repeat a strategy again and again.
Upskill yourself to meet the ever-evolving demands of the consumer market.
Upskilling for new avenues of business
You need to diversify your product/service portfolio if you want to keep up because with just one business, the risk is too high, you cannot rely on one source of revenue.
Tata Group has 30 companies under its umbrella, Reliance Group has 6 listed companies; such large conglomerates have a diversified portfolio, which in itself is a proof that you cannot survive with one business.
But how do you figure out such ways? The first step is to check your strengths-
- Do you have a good network?
- Do you have a skill that you haven’t monetized yet?
- Do you have friends who have business and are looking for partnership?
- Do you have unused money in the bank that you can use to make more money?
- Do you have property or land apart from your house that isn’t making you money?
So there may be several questions, and if you have a positive answer to any of the questions, then Bang!! You know your strength that can be monetized.
Next, you need to figure out what is stopping you from monetizing it. Once you have clear answers, then learn these new things, educate yourself and start making money in new ways.
Educate yourself, never stop, or the coming generation will force you to retire without enough money.
This post is a part of Blogchatter A-Z Challenge- #blogchatterA2Z. Check out my A-Z Challenge theme, and read previous posts.