How to Learn the Basics of Business

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Get a head start on your business education
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Whether you want to work for a company or start a business of your own, it is important that you first learn the foundational basics of business. You can learn business basics and entrepreneurial skills on your own, through online resources, by going to school and/or taking courses in a business-related field, or by getting hands-on experience in a real business setting. Whichever way you choose, learning business basics will help set you up to achieve your career goals.

Things You Should Know

  • Read business publications like Forbes , WIRED , or Bloomberg , and listen to business podcasts to keep current on the business world
  • Enroll in free online courses, or in an online MBA program to take at-home classes.
  • Find an internship or an entry-level job to learn the ropes of your desired field.
Method 1
Method 1 of 4:

Learning Business Basics on Your Own

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  1. In order to learn business basics on your own without formal education, it is important that you first understand what basic concepts are essential for your success. While the concepts that are most relevant will vary depending on what type of business you are interested in going into, in general, it will be helpful for you to learn the basic concepts of marketing, production, distribution, research and development, labor, and finance. [1]
  2. One of the easiest ways to start learning more about business basics is to read books, journals, magazines, and newspapers that provide information about successful business techniques. With so many business-related publications available, you will have a lot of options to choose from.
    • Some of the top business publications are Forbes , WIRED , and Bloomberg Businessweek .
    • Autobiographical books written by successful business people can be particularly helpful, providing you with invaluable advice on the basics of running or working for a business. They can give you insight into how entrepreneurs launched successful businesses. [2] A few that are highly recommended are Miracles Happen: The Life and Timeless Principles of the Founder of Mary Kay Inc. by Mary Kay Ash, and Sam Walton: Made in America by Sam Walton. [3]
    • Several major news publications also maintain up-to-date websites on business-related news that can help you learn business basics, such as https://www.businessinsider.com and https://www.businessnewsdaily.com .
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  3. Podcasts are a great way for you to learn business basics without having to commit the time to sit down and read. Try listing to business-related podcasts while you exercise, during your commute, or when you run errands. This will enable you to learn about business basics while going about your normal routine.
    • To find business-related podcasts, go to your preferred podcast app, browse by category, and select “business.” You can also search for a particular podcast by name.
    • A few highly-rated business podcasts include NPR’s Planet Money podcast, which covers a wide range of topics relating to business and the economy, and The Tim Ferriss Show , which produces interviews with many of the top business people from around the world. [4]
  4. There are hundreds of TED talks under the “Business” topic on the ted.com website that cover a wide range of topics. Several of these talks are relatively short, making it easy for you to learn a lot about business basics in just a few minutes per day.
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Method 2
Method 2 of 4:

Using Online Resources

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  1. For a quick and easy way to learn business basics and skills for free, search online and enroll in a free online business course. [5] There are thousands of options available, including courses that provide an overview of business basics as well as more specialized options. These courses usually last from 4 weeks to 6 months and only require about 2 to 6 hours per week. [6]
    • To make sure that you are getting the best information on business basics available, choose a free online business course that was developed by an accredited university. [7]
    • Specialized free online courses are available in several business fields, including sales, entrepreneurship, coding, graphic design, financial accounting, global business strategies, and data science and analytics. [8]
    • Georgetown University, for example, offers a helpful free online course on global business strategies. This course lasts 30 weeks and requires that you put in about 2 to 3 hours per week.
    EXPERT TIP

    Jeffrey Fermin

    Employee Relations Expert
    Jeffrey Fermin is an Employee Relations Expert based in Miami, Florida. He currently works as Head of Demand Generation for AllVoices, a platform that manages employee relations issues. Through his work, he has developed extensive experience with understanding human behavior and the intricacies of work life. He’s also the Founder of a full-service marketing company called New Theory. He has more than 13 years of experience in B2B SaaS marketing, and has specifically focused on human resources technology, digital marketing, and content creation. He earned a Bachelor’s Degree in Psychology and a Bachelor of Education from Florida International University. Jeffrey has won a Microsoft Octas Innovation Award and is a TechCrunch Disrupt Runner-Up.
    Jeffrey Fermin
    Employee Relations Expert

    Online learning offers real flexibility. You can learn at your own pace with online education platforms like Coursera, Udemy, and Khan Academy. They make learning convenient with a vast library of courses. Try anything that sparks your curiosity and is tailored to your interests.

  2. Also referred to as “mini MBAs,” online certificate courses are a great option if you want to learn business basics and boost your resume quickly at relatively low cost. [9] Most online certificate programs provide you with the foundations of basic business practices, although some offer more specialized certificates in areas such as digital marketing and business management. [10]
    • The University of Buffalo, for example, offers a mini-MBA certificate program that costs about $1,000 and focuses on multiple business subject areas, while the University of North Carolina offers several more specialized certificate courses on subjects such as leadership development and data analytics. [11]
    • Certificate courses generally last 3 to 12 months and cost anywhere from a few hundred to several thousand dollars. [12] The cost generally depends on the length of the program and level of specialization, as well as the reputation of the affiliated university.
    • Online certificate programs offer deeper insight into business than free online courses, but are much less in-depth than an MBA. [13]
  3. Search online to find seminars and lectures that you can stream or download. There are thousands of options available, including lectures performed by college and graduate school professors and seminars put on by successful business professionals. While some require payment, the financial commitment (if any) is generally very low (usually less than $100).
    • Some business organizations and business programs at universities also put on digital conferences that can be watched through a live feed, or recorded for future access. A quick Google search will help you find out when business conferences are going on, what organizations and people are involved, and instructions on how to access the presentations. [14]
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Method 3
Method 3 of 4:

Going to School for Business

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  1. To learn a lot about business basics quickly, enroll in a short-term business course at a university or community college near you. Several institutions offer night and summer courses, so this is a great option if you want to learn about business basics while working a full-time job.
    • For example, the University of Chicago’s Booth School of Business offers a Summer Business Scholars Program, which is designed to help students build their basic business knowledge and skills to help them prepare for future employment. This program lasts for 3 weeks and costs $4,000 without housing. [15]
    • Short-term business courses are offered in general business studies, as well as several specializations including sales, administration, and retail management (to name a few).
  2. If you want to learn about business in a more in-depth capacity, getting a Bachelor’s degree in a business-related field is a great option. While Bachelor’s degree programs require a long-term commitment (typically about 4 years), you will learn extensively about the major theories on business organization, ethics, and practice.
    • A Bachelor’s degree in Business Economics from the University of Pennsylvania, for example, costs about $55,000 and takes about 4 years to complete. [16]
    • Some Bachelor’s degree programs will require that you specialize in a particular field, such as marketing or finance.
    • Many Bachelor’s degree programs will require or recommend that you complete an internship as part of your studies. This can be a great way to learn more about business basics through hands-on experience.
  3. If you have already received a Bachelor’s degree, getting a Master’s degree in Business Administration (MBA) will help you learn even more about business and further your career goals. An MBA is a versatile degree that can lead to careers in various business fields, including economics, marketing, accounting, business management, international business, and business law.
    • While the costs varies greatly, most MBA programs are very expensive, so make sure that you do your research and plan accordingly. For example, the MBA program at the University of Alabama’s Culverhouse College of Business costs about $60,500 for out of state students.
    • If you attend full-time, most MBA programs take 2 years to complete. [17]
    • Most MBA programs offer night and weekend classes and will allow you to attend part-time. This is a great option if you plan to continue to work while getting your degree. Part-time MBA programs usually take about 3 years to complete. [18]
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Method 4
Method 4 of 4:

Getting Hands-on Experience

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  1. Finding an internship is a great way to learn business basics through hands-on experience without having to commit to a full-time job for a long period of time. [19] If you are just starting out, an internship is a great way to gain valuable insight, work experience, and skills that will help you succeed in the business world.
    • To get the most out of your internship, apply for positions at businesses that are similar in size and focus to what you are interested in.
    • Once you land an internship, don’t be afraid to ask a lot of questions. Your supervisor’s job is to help you learn the foundational basics of the business, so try to take advantage of any opportunities to learn.
  2. If you are looking to build your resume, pick up new skills, launch your career, and learn about business basics in a more in-depth capacity, apply for and get a job at a business that is in-line with the type of business you are interested in learning more about. [20] A position at a company can provide you with the opportunity to learn business basics while gaining invaluable career experience.
    • If you are looking to learn about business basics in a more general sense, focus on applying for jobs that will allow you to gain experience in various areas of the business. Read job descriptions carefully and ask your interviewers to gauge the types of learning opportunities you will be given at each business you are interested in working for.
  3. If you are unsure about the type of business you are interested in learning about, reach out to several different businesses to see if you can shadow a business professional at work for a short period of time (anywhere from one day to several weeks). [21] This will give you the opportunity to learn some of the basics of each business, and can help you decide if you want to pursue an internship or job at a similar company.
    • If you are in school, your academic advisor will likely be able to help you set up a time to shadow a business professional.
    • If you are not in school, look on the websites of some of the companies you are interested in and email 1 or 2 of the people who work there to see if you can shadow them at work for a day or so.
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Expert Q&A

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  • Question
    How can I start a business with no money?
    Ryaan Tuttle
    Home Improvement Specialist
    Ryaan Tuttle is a Home Improvement Specialist and the CEO of Best Handyman, Inc. in Boston, Massachusetts. With over 17 years of experience, he specializes in building home service businesses, focusing on creating scalable and efficient brands. With the help of his global team, the companies have achieved over 10+ million in sales and received recognition through magazine features, and enjoy partnerships with wikiHow and Jobber field service software. Boston Magazine and LocalBest.com have named Best Handyman Boston the Best Handyman in Boston. Ryaan holds Construction Supervisor and Home Improvement Contractor Licenses.
    Ryaan Tuttle
    Home Improvement Specialist
    Expert Answer
    Doing market research is the first step. Also, make sure you have a viable product before you go out and start an entire business centered around that. Always start a little bit smaller and scale up from there, instead of trying to come in on a huge scale, because you might be following a trend that will not pan out or last.
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      • There's a tremendous return on investment (ROI) on working with business coaches. This might help you cut the learning curve a bit and not spend a lot of time researching when you could start nailing down certain aspects of your business with a professional that focuses just on that area.
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      References

      1. ↑ https://www.entrepreneur.com/article/77286
      2. ↑ https://www.theclassroom.com/teach-yourself-business-2139797.html
      3. ↑ https://www.entrepreneur.com/article/243136
      4. ↑ https://fortune.com/2018/09/11/best-business-podcasts/
      5. ↑ https://www.entrepreneur.com/article/238908
      6. ↑ https://www.cnbc.com/2018/06/25/10-business-classes-you-can-take-online-for-free.html
      7. ↑ https://www.cnbc.com/2018/06/25/10-business-classes-you-can-take-online-for-free.html
      8. ↑ https://www.cnbc.com/2018/06/25/10-business-classes-you-can-take-online-for-free.html
      9. ↑ https://www.usnews.com/education/online-education/articles/2016-07-12/develop-business-skills-through-online-certificate-programs
      1. ↑ https://www.usnews.com/education/online-education/articles/2016-07-12/develop-business-skills-through-online-certificate-programs
      2. ↑ https://www.usnews.com/education/online-education/articles/2016-07-12/develop-business-skills-through-online-certificate-programs
      3. ↑ https://www.bestcollegereviews.org/top/online-professional-certificates-career-advancement/
      4. ↑ https://www.usnews.com/education/online-education/articles/2016-07-12/develop-business-skills-through-online-certificate-programs
      5. ↑ https://www.allbusiness.com/9-conferences-every-digital-entrepreneur-owner-attend-115753-1.html
      6. ↑ https://www.chicagobooth.edu/programs/summer-scholars
      7. ↑ https://admissions.upenn.edu/learning-at-penn/majors-minors
      8. ↑ https://www.allbusinessschools.com/mba/length-of-mba-program/
      9. ↑ https://www.allbusinessschools.com/mba/length-of-mba-program/
      10. ↑ https://www.businessinsider.com/what-you-can-learn-from-your-summer-internship-2015-8
      11. ↑ https://www.inc.com/leadership-now?utm_source=paywallx&utm_medium=modal&_ptid=%7bkpdx%7daaaa1_qek6zygqokqwv6vnhia2dkdbiqbhexbm5ocdk0zzfmegiyoromrvhnoty4sue3tvpciiuxoda3aduwmdljltawmdazmzjyamvzdgfzndbnmgp0bwhpcxu4khhzag93t2zmzxizt0s4nus5rew4mjeymjmwatomt1q2rkoyvvzlwvfkqg1pvfzmnkzyr0rzovmxuhj2lyia8djxywjpnnr2ehnpwiyyodawojrimdo4mdm3ome1mta6nzlknjo2mznhojk4mzk6mju5m2idzhdjak2n5ksgcbt4da
      12. ↑ https://www.thebalancecareers.com/job-shadowing-is-effective-on-the-job-training-1919285

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