As an owner of a Spanish Language School, I have been able to apply various lessons and tips I had already learned in my College Courses. Believe it or not, most of the things I learned while acquiring my economics BA are things I have never used, but the things I used have been worth it. To start a business school, the first step is researching: most people start business without any research, the eventual result is bankruptcy. Researching involves checking who your competition is, checking if the spot you selected for your business is accessible, and checking your costs. Without covering each point, success is not a guarantee. Take your time to write an expected cost-benefit analysis on a sheet of paper, and always exaggerate your costs, not your benefits. If you find your business plan profitable, start thinking about a possible name for your school. Keep in mind this hint: if your school name has the word SCHOOL in it, you might need to require further permission to the Ministries of Education in your country. The next step is a must do: Get your school's name registered! If you don't register your name you won't be able to get a bank account and if somebody registers that name, you might be subject to a law suit. The first three months in business are crucial: most people might give up after a couple of weeks. The most important thing to understand is that business is an investment, some returns might be expected in further dates. Select personnel you really trust, this can avoid you contract problems during the first months. Remember: maximizing utilities is equivalent to minimizing costs, so minimize costs as much as you can, this can boost your business confidence. While the first three months might be difficult, remember to show confidence. Many companies don't do well because lack of confidence in the managers is reflected to the employees. Keep good moods and confidence even in the worst times. For administration of your school, always have more actives than passives. My success has been achieved through this, I have never had more passives than actives in my balance. Even before starting my school I had more actives: I didn't pay any rent for the house where classes are taught because I own it, I own the chairs and tables, I own the whole thing!! Remember: keep a good mood, more actives than passives, minimize costs and you will maximize benefits! |
