As former teachers, we firmly believe in the power of education, and often, when asked about our best business advice, the resounding answer is to invest in education. In today’s women in business podcast episode, we’ll explore the various ways you can invest in business education and help you navigate the best path based on the season of business you find yourself in. Specifically, we want to help you navigate how to choose the right path when investing in business education.
Not everyone can afford one-on-one coaching, but that shouldn’t deter you from investing in your business growth. We discuss a variety of avenues for education investment, including courses, workshops or retreats, group coaching, and one-on-one coaching or masterminds. Each avenue has its merits, but it’s crucial to consider key factors when deciding how to invest.
Cost and Scalability for Investing in Business Education
Our emphasis is on the importance of determining your budget and how quickly you want to scale your business. Think of it like a fast pass at Disney, highlighting that spending more can often expedite your journey to the front of the line in business.
A course can be a great place to start because it’s a low-risk investment to begin with. Group coaching starts to get you access to the coach, along with some accountability. Workshops and retreats are more of an investment, but it can be huge for breakthroughs in a short period of time. The more access you have to the coach, the higher the investment, but also the faster your return on that investment. With 1:1 or Mastermind type coaching, you will have the highest investment, but they are just working with you on your problem.
Learning Style and Pace for Choosing the Right Path for Business Education
When considering what kind of business education path is right for you, we place a high significance on aligning your learning preferences with the education format. Whenever Sarah helps guide people to the right kind of education, she helps them consider their learning style when choosing the right path.
For example, courses and group coaching may suit those who prefer videos and independent learning, while workshops are ideal for hands-on learners. Whereas those who are learning something like photography or cutting hair, a workshop is going to be a better format for learning because it is more hands-on. Tailoring your choice to your learning style ensures a more effective educational experience.
Accountability and Support in Business Education
Next up, let’s address the need to evaluate your level of self-motivation and propensity for procrastination. If you’re a go-getter, a course might be sufficient, while those with a tendency to procrastinate may benefit from in-person workshops, retreats, or coaching because of the higher level of accountability that is built in. Workshops and retreats are also helpful for getting through the content more quickly so you don’t get distracted.
Masterminds are a much higher level of investment, but it is also giving you access to other high level, high performing people as you. They may or may not be in the same industry. But there is power in being with people who have different perspectives.
Outcome and Return on Investment for Your Business
As you are considering your path for business education, it’s also important to consider your Return on Investment (ROI) and the personalized nature of one-on-one coaching. While it represents the highest investment, it also offers the highest ROI. Group coaching and masterminds have their place, depending on your business level and desired outcomes.
It’s essential to assess your unique situation, balancing cost, learning style, accountability, and desired outcomes when investing in your business education. Remember, you get out what you put in, so choose the path that aligns with your goals and values.
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