The business lessons they should of taught you in school

  1. Business lessons

    Clinton UKBF Big Shot Full Member

    Posts: 3,249 Likes: 1,062
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    Before letting the average pimply teenager out into the world, schools teach them about Euler and Hitler and Dali and other stuff far less essential for living in the modern world than knowing to how make your router secure, unclogging a drain, fighting a parking ticket etc. But here are three lessons I wish they'd make compulsory in every school just in case some of their students ever fancy running a business. 

    1) Grammar doesn't cease to be important once you've passed your English GCSE 

    As you may have noticed, the title of this piece has a glaring mistake. I bet half of you opened this page because you wanted to comment on the nerve jarring headline. 

    Click bait works! 

    But good grammar works, too. There's a difference between your and you'readvice and advisewho and whom. Small mistakes can have serious consequences. In today's news is the story of a bungee instructor in Spain who has been found guilty of causing a girl's death because of his poor English. The girl heard, "Now jump". What he had actually said was, "No jump". Tragic. Not all mistakes result in a death. Sometimes they result in more than one death. 

    Punctuation is important, too. Businesses have lost millions of pounds because of something as simple as a misplaced comma in a contract. Let's eat grandpa isn't the same as Let's eat, grandpa.

    It's not just commas. Learn when to use caps (and when not to use them). Also avoid parentheses whenever you can. And don't forget apostrophes. 

    An apostrophe is the difference between a business that know its sh*t and a business that knows it's shit. 

    2) B2B (business to business) is different to B2C (business to consumer)

    The Consumer Rights Act, 2015 is an important piece of legislation. It's important because it has turned consumers into highly protected snowflakes. They can return goods for a refund. They get cooling off periods on contracts. They have data protection and privacy rights. They have all kinds of other protections. 

    As a business you have none of that. 

    Read that bit carefully. Most of the rights you've become accustomed to and don't even think about, don't apply when you're a business. As a business owner you're assumed to be all growed up and capable of making sound decisions. The law assumes that you've taken professional advice on every single decision, expense, employee hire, purchase. That's a bigger deal than it may at first appear. Don't get caught out like  many rookie business owners who only discover this the hard way. 

    Moving from B2C to B2B is like going into the big pool for the first time... and without your arm bands. Oh, and I forgot to tell you, there are sharks in the water.

    3) This is the most important one: Read contracts

    Read every single word, make sure you understand everything 

    This applies to every contract, user agreement, terms of service, terms and conditions, whatever. The Money Advice Service worked out that not reading the small print is costing consumers an average of £428 per year. It's costing businesses a lot, lot more! You. Can't. Afford. To. Not. Read. Contracts. 

    In conclusion, here's a challenge: How many mistakes can you find in the above post? Answers on a postcard.

  2. Kat Haylock

    Kat Haylock Community Editor Staff Member

    Posts: 404 Likes: 173
    I hope you're pleased with yourself Clinton - your article just sparked a heated argument within the UKBF team about whether or not we should replicate the "should of" headline into the weekly email and risk a couple of thousand people assuming we're grammatically challenged :rolleyes:
    Posted: Jun 27, 2017 By: Kat Haylock Member since: Jul 11, 2016
    Clinton likes this.
  3. TODonnell

    TODonnell UKBF Ace Full Member

    Posts: 1,297 Likes: 193
    Don't duplicate it. I think it would be very boring, time-wasting and unprofitable to have to deal with the responses.

    Anyone who wants the headline, they get delegated to answer the emails!
    Posted: Jun 27, 2017 By: TODonnell Member since: Sep 23, 2011
    Kat Haylock likes this.
  4. Clinton

    Clinton UKBF Big Shot Full Member

    Posts: 3,249 Likes: 1,062
    How about a compromise: The business lessons they, er, should of taught you in school.

    That said, clickbait is so Huffpost! Not worthy of UKBF! :)

    Oh, okay, a few more exclamations seeing as I'm in the mood:

    Last edited: Jun 27, 2017
    Posted: Jun 27, 2017 By: Clinton Member since: Jan 17, 2010
  5. The Byre

    The Byre UKBF Ace Free Member

    Posts: 6,510 Likes: 2,555

    in every school just in case should read in every school, just in case

    But good grammar works, too. should read But good grammar works too.

    Let's eat, grandpa. should read Let's eat, Grandpa.

    a business that know its sh*t should read a business that know its' sh*t

    As a business you have none of that. should read As a business, you have none of that.

    you're assumed to be all growed up should read you're assumed to be all grown up

    make sure you understand everything should read make sure you understand everything.

    Posted: Jun 28, 2017 By: The Byre Member since: Aug 13, 2013
  6. Mr D

    Mr D UKBF Legend Free Member

    Posts: 5,779 Likes: 587
    Would be nice if schools didn't just push towards university and employment.
    Perhaps if they taught more fire safety, first aid, how to care for a home, how to care for a car etc.
    Business wise I'd have liked the school to teach how to plan.
    Posted: Jun 28, 2017 By: Mr D Member since: Feb 12, 2017
  7. Dan Shaw

    Dan Shaw UKBF Contributor Full Member

    Posts: 40 Likes: 2
    Yes major changes needed to help support and guide.....
    Posted: Jul 9, 2017 By: Dan Shaw Member since: Jul 8, 2017
  8. Gordon - Commercial Finance

    Gordon - Commercial Finance UKBF Regular Free Member

    Posts: 376 Likes: 77
    Any kind of financial sense training would be nice. What is a mortgage and how does it work? Interest rates, the benefits and dangers of debt, how to manage household income and expenditure. Our kinds leave school sometimes equipped to pass some exams, but rarely equipped for real life.
    Posted: Aug 15, 2017 By: Gordon - Commercial Finance Member since: Jun 26, 2017
    klicnow likes this.
  9. klicnow

    klicnow UKBF Newcomer Free Member

    Posts: 3 Likes: 0
    I agree with the above, but would also add a basic training of what is involved in running a business, and with it (hopefully) the comprehension that profit is not a dirty word.
    Also include the concept that life is not a free ride and everything that one gets for free ie N.H.S, Schooling, etc, has to be paid for.
    Posted: Sep 8, 2017 By: klicnow Member since: Feb 29, 2012
  10. Mr D

    Mr D UKBF Legend Free Member

    Posts: 5,779 Likes: 587
    In a school??????

    Cannot see that happening, would be forcing people who have never left school to teach something they are rabidly against and that they know to be wrong.
    It would be like trying to get science teachers to teach that the world came into being in the 1970s from a guy named Mork dressed in a red jumpsuit saying the word 'Shazbat'. :)

    The first 18 / 21 years of life we teach kids that things are free, that someone else will pay, that help is always available. Understandably many of them for years afterwards KNOW, absolutely know, that this is the truth and the way things should be all their life.
    Last edited: Sep 8, 2017
    Posted: Sep 8, 2017 By: Mr D Member since: Feb 12, 2017

    MY OFFICE IN CHINA UKBF Big Shot Full Member

    Posts: 3,645 Likes: 718
    First step, get teachers who can teach.

    Seems, they are far and few between.

    The curriculum is secondary.
    Posted: Sep 9, 2017 By: MY OFFICE IN CHINA Member since: Nov 16, 2011
  12. Clinton

    Clinton UKBF Big Shot Full Member

    Posts: 3,249 Likes: 1,062
    We pay teachers a rubbish salary (relatively speaking). If you want the best, then you've got to pay a lot more.

    That said, we do have some excellent teachers. The problem is that the rest of education is in a mess. Just a few of the problems:

    - the disbanding of special schools and accommodating SEND children in mainstream education. Some of these children can be highly disruptive and all it takes is one disruptive child in the classroom;

    - the imposition of social worker responsibilities on teachers. Teachers are now 90% social workers and 10% teachers. Their main job is crowd control;

    - parents and social breakdown. We have kids coming to school who haven't eaten in days. In some areas, a large majority of five years olds can't even go to the toilet without adult assistance. There are all kinds of other social problems that are spilling over into schools.

    - a National Curriculum that is a national joke. We teach our kids only that material and impart only those skills which can be easily tested in an exam room... hardly the best preparation for life;

    - a target based environment. Targets and constant assessments and measurements leave teachers little time to teach

    - Ofsted, a bunch of useless bureaucrats so far up their own asses it's unbelievable...

    There are several others. But the main one for me is government involvement in education. Governments shouldn't interfere in education.
    Posted: Sep 9, 2017 By: Clinton Member since: Jan 17, 2010