March 08, 2018

Making a Success of the Family Business through Education

By Ashmika Chottu

Traditionally in many cultures, the family business is a family heirloom. A valued property that has been handed down from one generation to another. From conventional businesses such as farming to supermarket trading, it is not common that the inherited generation may be knowledgeable about it.

With the rise of the technological era and spike in job opportunities out there, many find themselves wanting to clear their own path and follow a career they know that may best suit their skills. No one sees the need to upskill in a field they may perceive to be an ‘old fashioned’ or ‘out-dated’ method of income, which who knows how long, may last and be profitable.

This assumption however poses a serious threat to the hard work and dedication that has been fostered into these family businesses that have been operational for several decades. These are life making and breaking decisions that people have to make in order to progress and achieve success.

More often than not, the lack of education in the specific field is what drives the inheritor of the business away from the operations. Some decide to pack-up and leave the business behind them while chasing their dreams, or some decide to invest in the business while they follow their dreams. But should the lack of education, shift one away from running their family business?

Certainly not and especially not in this day and age. There are thousands of educational providers that support the upskilling of individuals whilst they are equally invested in the day-to-day operations of their business.

Institutions such as Damelin Correspondence College (DCC), allows the student the opportunity to develop the skills required to run a business on a part-time basis.

In any family business, learning the principle skills of running a business is so important to its success. Programmes such as Bookkeeping, Marketing Management, Business Management and Financial Management, at Damelin Correspondence College, will provide the inheritor with basic skills to feel confident enough to manage a business.

Gaining the opportunity to run a family business is seen as a huge accomplishment, which some people strive to have since childhood. Never let the ‘lack-of-education’ stifle you as education is powerful and available. It only needs the person to take the right steps towards attaining it.

DCC has a strong legacy in the education market, and the know-how to nurture and enhance talent and passion in a student. The correspondence programmes are therefore best-suited for students with busy lifestyles who are able to earn an income by working while they upskill themselves to run their family business better.

If you find yourself in a similar situation and one that is eager to take on a family business but lacks the basic skills, visit www.dcc.edu.za for more information on their part-time programmes.

 

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