COMBINING TEACHING WITH BUSINESS

Have you ever experienced economic drought before? What happened? Was it due to lack of payment of salary and allowance by your employer or mass strike action? Or was it economic downsizing? How was the experience, bad, terrible or worse? Shockingly, do you know that some professionals experience virtual economic drought every month? Do you also know that many teachers fall into this category? Now, this is not because teachers are lazy and less contributing to the society, No; it’s because many teachers are underpaid and many others are owed salaries thereby causing them be in financial debts, crisis and enslaved to their profession with little or no hope of change in view.

As a teacher trying to get control over your salary and how much you are spending, rather than resorting to another job, building a business is a more profitable venture. There are in fact many advantages to having an enterprise than picking up a second job whether full or part time. For one thing, you get to manage it yourself and you have the chance to see it grow and prosper. And what you would be earning from it is way higher compared to a regular second salary. I bet you agree with me.

A business venture is something that most teachers would definitely want though they don’t know how to go about any. Given the little pay and compensation teachers get in the context of an educational institution, receiving the profits of a successful business venture will make a lot of sense. Setting up a new business or reviving an old one is a great solution, and will be far better than additional job, or more hours at your job. As an add-on bonus, the better you do in your own business, the greater your profits.

With every business comes the objective to make profits and a business for a teacher is no exception. As much as possible, hard work cannot be compromised for things to work, most especially if you have no idea on how to start. This is said because when the business eventually starts, the teacher stands to face the challenge of decline in his delivery as well as managing focus. Luckily, with other disciplines and practices, there are skills that teachers already have that can prove truly beneficial in generating a successful business venture as well as balancing teaching and business.

Now, let us recognize valuable skills in teachers that will be relevant to any prospective business venture. These are skills most teachers have acquired through experience and time. Let’s go.

Skill 1: Management

Every teacher has an in-depth knowledge of management. As such, by default, teachers are really good with this skill. For one, they assume the role of classroom managers. They supervise their students and follow through with lesson plans for the whole year or semester. Additionally, they direct students as to what needs to be done. This must also be exercised in business. Thus, if you do have plans to set up one, you need to manage various things. But you will be handling not only students any more but money, resources and people. If in the class you have acknowledged that you are pretty good with these things, then you only need a few correct applications in lieu to do well with business. Don’t you think so?

Skill 2: People skills

Teachers are often faced with different sets of individuals every term, semester or year. And what makes this unique is how they are able to captivate these students and motivate them to listen and respect them all through the period of time. This is also applicable in business. In fact, this is most important because you need to have this to gain people's trust - not only your prospective customers, but also your workers. The most important factor in any venture is human resources or manpower. Thus, in order to have a successful business in the near future, you need to do something so clients can entrust you with their money and do so repeatedly. You will then have your own pool of loyal consumers.

Skill 3: Teaching

Teachers are in school to educate students. This is what their work is all about. In business, the skill of teaching is also necessary to make the venture successful. Perhaps you are wondering why that is so. When you have a business, old or new, product or service, in order for people to know that it exists, you must be able to relay your business effectively to them. You must stress the need of having your product or service so that they will crave it. This is called marketing. Thus, you are teaching and introducing something new to them. Finally, you also need to train your employees.

Skill 4: Recording

Teachers in school also take account of attendance, work scores, test scores, exam scores and then assess students by the end of the every term, semester or year. In business, the skill of taking records and stocks is very vital to the success of any venture. You need to record how much sales you make, partial sales, cost of running the business, profits, plough back and every other important detail. This way you will easily make audit and assessment of the business, appraisal of staff, customers and clients, analysis of trends and opportunities, income and expenses as these all affect proper decision taking. This is accountability and it is indispensable in any given business venture.

These are just some of the skills necessary to start up any business venture. As a teacher, you need not actually learn totally anew just to start your business because these are skills that are common both in the school environment and in the business world. So start etching ideas on a probable business that is suitable for you. But, what business can you do that will not decline your productivity in the classroom? What business can you do that will not take more time from the time you spend with your family?

Having known the benefits of having your own business venture against taking a second job and knowing that you already have a set of business related skills at your fingertips, I bet you are already preparing to hit the business world but there is still one business hurdle we need to jump: Start-up Capital.

So, the question is now “what kind of business can a teacher do that will attract less or no capital at start-up?” Read Start-Up Capital for Teachers.

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