It was a very rude shock.

Melvin had been an exceptional performer throughout his university business degree. He had aced every subject with high distinctions and had won prizes for academic scholarship each year. Melvin was offered a place in the Post Graduate program upon completion of his degree. But he turned it down; preferring, instead, to get his hands dirty and turn his business learning into cash.

Melvin understood all forms of financing, he could calculate liquidity ratios, profitability ratios, efficiency ratios, and financial structure ratios in his head. Melvin was one of the most brilliant academics when it came to business strategy planning. And he understood the hopscotch field of government, consumer protection, and labor laws that fenced in his business.

With all this knowledge and ability Melvin couldn’t wait to get into business for himself.iStock_000027532785Small_299x213

But once he did he found that a lot of his learning had little to no bearing on actual day-to-day business.

The money he had so assiduously financed began to dwindle. Loan repayments were renegotiated. Suppliers began to become leery about offering credit and customers drifted away.

This is not an unfamiliar story, as small business coaches in Perth they have seen and helped many people like Melvin.

“Pretty much, by the time you read about it in your business course-book, it’s obsolete,” one of the Lucidity staff told me. And when you think about it, how could it not be? There are fewer areas of the economy less reliant on technology than business. As the technology changes so too does the method of doing business.

Unlike universities Lucidity Coaching can update its course information instantly. “At a university, once the books are in the campus bookshop that’s it. That’s the information they’ll be teaching all year, regardless of whether it’s been superseded or not; regardless of whether you even need to know it or not.”

Melvin enrolled in an executive coaching course with Lucidity BC. He thoroughly enjoyed it. It saved his business, pulled him back from the brink of bankruptcy, and opened his eyes to the real world of business.

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