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Filling in Your Knowledge Gaps
with Lifelong Learning
Entrepreneurs know how to approach learning as a valuable activity in itself, by understanding that skills learnt today often come in handy in the future. Considering entrepreneurial approaches to learning can help anyone identify their untapped opportunities.
By Angela Baca
In September 2010, Entrepreneur.com published David Port’s story, “Why Business Owners Are Heading Back to Campus.” Port describes entrepreneurs as “perpetual pupils fortifying their skills, knowledge bases and résumés with additional academic work in the hope it will translate directly into growth for their ventures, either now or in the future.”
Port touches on an important concept: business owners cannot learn everything while they work in their own company. Entrepreneurs might tap into knowledge in a college classroom. There are also tons of other education and training opportunities beyond the university campus. Professional organisations, for instance, are gold mines for finding training seminars, both face-to-face and online, that help entrepreneurs address their knowledge gaps.
“Your company has to be able to grow and adapt as an organisation of individuals with a collective knowledge base”
Consider examining their personal knowledge needs. Use education and training programs to understand your business or career from different perspectives, but don’t forget to be critical about how to apply new learning. Overhaul your thinking by using these three entrepreneurial tips to focus your efforts:
- Entrepreneurs have learning needs: Find out what that is by critically assessing your knowledge before spending money on education and training programs. For instance, you can consult with a university, TAFE or private career counsellor. A professional assessment reveals your weaknesses, which you can treat as knowledge gaps. Don’t interpret your assessment results alone; listen to the career counsellor’s recommendations.
- Entrepreneurs can find new solutions for old problems: One entrepreneur featured in Port’s article felt she was holding her own company back because of what she didn’t know. This phenomenon may or may not be true for you, but the way your company culture approaches problems may be part of your problem. Your company has to be able to grow and adapt as an organisation of individuals with a collective knowledge base. As the owner of your career, you are the key person to model how to expand your knowledge base through professional development.
- Every entrepreneur benefits from consulting services: Education and training instructors and fellow students offer ideas in the classroom. These ideas help business owners make changes to the business. Sometimes training is best sourced from consultants who can come into your business, evaluate your company’s needs, and create in-house training seminars. This training will give you and your workers concrete ways to improve the company. You don’t have to make your own connections between classroom learning and business decision-making alone. A consultant’s training program helps you bridge the knowledge gap.
Education and training programs are opportunities for finding knowledge as an entrepreneur. Consultants are also sources of business and industry knowledge. Choose the best solution based on your personal and business needs. Think about how what you choose will also benefit your workers.
What's your experience with addressing your own knowledge gaps?
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For More Information
Career Development Association of Australia
The CDAA is the member association for career counsellors throughout the country. It has a directory of members and a range of career planning resources on its website.
Australian Government Directory
This website includes listings of a wide range of industry associations and professional bodies.
Learn for Life