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Online Courses to Keep Your Business Safe and Strong
Far too many businesses have been struggling over the past year. The pandemic has presented the greatest challenge to business since the financial crisis of 2008. There are some things you can do during the pandemic to strengthen your business and provide for its security. There are various courses available through the internet that you can take. Taking a course online not only boosts your knowledge, but it keeps you safe from the pandemic. We will list some of these online courses and give you a brief description of each one.
IT Training Courses
IT is a catch-all term that applies to anything related to computers and the internet. It is an acronym for “Information Technology”, which most businesses rely on. That includes both hardware and software. Because most businesses rely on computers, networks, and the internet, online IT training courses are a must-have.
IT courses will teach you how to effectively use computers, computer networks, and the internet to strengthen your business. You will also learn of the importance of cybersecurity. If you have an internal network of computers that also have internet access, security is vital. If your network is not properly secure, it could be at risk of being hacked. Once a network is hacked, the bad actors can steal your important data. That includes any customer data you have stored as well. Data is one of the most valuable commodities in the world today.
These courses typically go together with IT courses, since networks are a part of IT. These courses usually cover essential networking elements. Examples of essential networking elements are Local Area Networks (LANs), Wide Area Networks (WANs), and Ethernet. They will also teach you about things such as Wireless Networking (Wi-Fi), Routers, and Network Security.
Marketing covers anything you do to promote your business or sell your product. This may include such things as printed material, advertising through various mediums, coupons, promotional items, and sales staff.
Taking online marketing courses will help you to determine what your target market will be. Once you have identified your target market, these courses will teach you the best ways to reach it. They will teach you how to use sales tactics to attract customers and get them to place orders. They also teach you how to retain customers after you have attracted them to your businesses. Repeat customers are the backbone of any strong business.
Finance Management Courses
Attempting to get a handle on the financial aspects of your business seems to be a daunting task to most people. This is the most important aspect of business next to having repeat customers. You must be able to manage your cash flow properly.
These courses will educate on the importance of effectively managing your cash flow. Plus, they will teach you the best ways to spend while maintaining cash flow into your business. Businesses that have poorly managed finances have the highest failure rate. These courses may cover things such as budgeting, the use of both short-term and long-term financing, as well as managing your assets.
Proper accounting goes together with financial management. Accounting is done with what is known as “Generally Accepted Accounting Principles”, or GAAP. Some people may refer to accounting as “keeping the books”.
Online accounting courses will teach you the proper ways to fill out and manage your ledgers. You will also learn terms such as “Balance Sheets”, and “Financial Statements”.
A Balance Sheet includes three parts: Assets, Liabilities, and Capital (or Owner Equity). When preparing a Balance Sheet, you will add your assets and liabilities (money you owe) together. You must have enough capital to match those two after they are added together. The equation of a Balance Sheet is Assets + Liabilities = Capital. If that equation does not match, then you have a problem somewhere. It could mean that you will need to invest more money into your business. Or it may mean you need to purchase more assets. And finally, that your liabilities are too high. If your liabilities are too high, you will need to work on paying them down.
Financial Statements are simply written records that show the activities of your business, as well as its financial performance. Financial Statements usually include income and cash flow statements. These records are the ones that might be audited by the IRS for tax purposes.
Once you have completed these courses, you may feel like you are an expert in these important business-related issues. Please keep in mind that each course will require time and effort on your part.
You will normally find that these courses are taught by colleges and universities. Some or all of them may be available through your local community college. The tuition at a community college is usually lower than that of a four-year college or university. The cost of tuition has a huge impact on most people who take any courses.
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