The third most important skill in business (Part 3)

The third most important skill in business (Part 3)

__Study to show yourself approved.

There is more to sales and marketing than simply putting an advert in a newspaper or on social media. Sales and marketing is a professional discipline just like engineering or accounting.

You must be conscious of the need to acquire some deeper academic understanding of this subject if you want to run a successful business or be a top executive.

You know by now that I don’t believe in experience which is not supported by continuous study and scholarship.

Although I had a passion for selling, my own professional training was in electrical engineering which I studied at university. I also majored in economics. When I decided to go into business, I focused my studies in finance and accounting, as well as in sales and marketing.

These days if you have a degree you can study things like an MBA if you want to get into finance, accounting, sales and marketing. But even if you didn’t get to university, there are diplomas you can study in these subjects, even through night school, and online.

It’s up to you to do your own research. One good online place to start looking is https://www.coursera.org which I’ve mentioned here before. If you go to this website just type in any business subject you want to study, like accounting, finance, economics, sales and marketing. They also offer financial aid.

The things I teach you here are not enough to ground you in these areas. This should just be enough to get you started after realizing the importance…

Accounting, finance, economics, sales and marketing: These are the bedrock for any entrepreneur, irrespective of your choice of business. You might be a farmer, or a doctor planning to set up clinics. Maybe you’re in real estate, or retail. It doesn’t matter.

Thanks to technology, no matter where you live, if you have a Smartphone, computer and internet connection, it is possible for you to study at the best universities in the world online. Check it out and tell me what you find.

__Study to show yourself approved.

Accounting, finance, economics, sales and marketing: These are foundational skills. Take economics, for example: What does economics have to do with your life? Everything! The role of the government in your economy, private markets, consumer choice, production decisions, market structures, monetary and fiscal policies, unemployment, inflation, international trade and exchange rates… These are not just academic topics for professors. They impact you and your life, one way or another, every single day

I’ll say it one more time: Accounting, finance, economics, sales and marketing! Yes, you’ll go on to hire experts in some of these areas as your business grows, but you must have a basic grounding yourself to be able to deploy and manage your teams effectively

To be continued. . .

Author:Strive Masiyiwa

Strive Masiyiwa is the Founder and Executive Chairman of Econet, a diversified global telecommunications group with operations and investments in over 15 countries. His business interests also include renewable energy, financial services, media and hospitality. Masiyiwa serves on a number of international boards, including Unilever, Rockefeller Foundation, the Council on Foreign Relations’ Global Advisory Board, the Africa Progress Panel, the UN Secretary General's Advisory Board for Sustainable Energy, Morehouse College, Hilton Foundation's Humanitarian Prize Jury and the Kenjin-Tatsujin International Advisory Council. He is one of the founders, with Sir Richard Branson, of the global think tank, the Carbon War Room, and a founding member of the Global Business Coalition on Education. Masiyiwa took over the Chairmanship of the Alliance for a Green Revolution in Africa (AGRA) from Kofi Annan. He is also Chair of the Micronutrient Initiative, a global organization focused on ending child hunger and improving nutrition. In 2012, Masiyiwa was invited by President Obama to address leaders at the Camp David G-8 Summit on how to increase food production and end hunger in parts of Africa. In 2014, Masiyiwa was selected to Fortune Magazine’s list of the “World’s 50 Greatest Leaders”. As a philanthropist, he is a member of the Giving Pledge, and his contributions to education, health and development have been widely recognized. Masiyiwa and his wife finance the Higher Life Foundation, which provides scholarships to over 42,000 African orphans. In 2015, he was the recipient of the International Rescue Committee’s Freedom Award and was presented with a UN Foundation Global Leadership Award for the work of the Africa Against Ebola Solidarity Trust, which he chairs and helped establish to fund the deployment of African healthcare workers to combat the outbreak in West Africa.

17 Replies to “The third most important skill in business (Part 3)”

  1. Afterthought 1.

    You’ve heard me say before: “Oh, how I wish all God’s people could understand economics.” There’s nothing that does more harm in a nation than when not enough people understand economics — both the leaders and the led. We must do everything to understand economics or we perish.

  2. My field is mechanical engineering, but when I realized I could read financial reports of most companies I wanted to learn about and motivated by one of your post I started “Understanding financial statements” on coursera… And I don’t plan on stopping there…

  3. sir since i started following your post 2 years ago, i have shared copied and pasted to all social medias im on…i believe a word shared can light the world.

  4. I say again, Accounting, Finance, Economics ,Sales and Marketing!
    #AFEM
    Thank a million Doctor, you are our hero.
    Let’s go get some titles then and start studying. Wealth creation on my mind.

  5. The popular rich men I know today at one time or the other studied these courses- finance, accounting, economics and management. How I wish financial literacy can be hammered on the same way we hammer on getting degrees. Financial literacy is a crucial start to being rich. How many graduates today can manage their cashflow…oh! or you don’t even know what that means? *SMH*

    1. My sincere gratitude to you mr. Strive, for your endless efforts of helping us to reshape our lives both economically and socially. I believe that whoever following your postings is greatly impacted. Thank you so much Mr. Strive

  6. All items such as: accounting, finance, economics, sales, marketing are very important in the modern world. I have all of these items studied in College. Knowledge of all this helps me a lot to work with.

  7. This is a great question, and a poignant one as many other recent grads are in the exact same boat right now. The key is persistence and trying to match your passions with your strengths. What do you enjoy doing? And is there a way to parlay that into a career? It may sound unrealistic, but it isn’t if you simplify things. Do you enjoy interacting with different kinds of people? Are you competitive? Perhaps a career in sales could be a path to explore. Are you more introverted and enjoy writing? Seek out opportunities that embrace those skills.
    You may also choose to attend keynote speaker,, and then you can change your life any direction.

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