I love small business. I am the son of a small-business owner, and I own a small business. It is extremely rewarding to have a small business focused on one’s passions and interests.

Many small businesses actually are started based upon one’s specific skill set and passion. This is great, and being passionate about the work is extremely helpful when starting a business. But there is one area of knowledge that I see lacking in many small businesses. It is the knowledge of the “business side” of doing business.

A carpenter can build anything, but the thought of payroll makes him run for Tylenol. A real estate agent can sell oceanfront property all day long, but paying the bills is torture.

We are not taught how to manage a business in school unless we specifically attend business administration classes. Therefore, many people learn about business on the fly. This can lead to misinformation or a lack of information that impacts business success.

Here is how I have been learning about the business side of doing business.

My father. I have learned a lot about business management from my father. I have learned from observation and from conversation. He has been able to share about poor financial decisions and excellent ones. It is incredible to have a father who successfully led a small business for more than 45 years.

Formal education. I took economics classes as electives as I obtained my undergraduate engineering degree at Purdue University. I then attended Clemson University and obtained a master’s of business administration. This education has really helped me both in my personal finances and in my small business.

The Internet. There is a wealth of information available on the Internet regarding small business development. Most of it is FREE. The U.S. Small Business Administration offers 25 free on-line training courses at SBA.gov. CNN and “Money” magazine have a partnership that offers small-business-related articles and question and answer pieces at money.cnn.com/smallbusiness/.

Books. I have read several books that directly or indirectly relate to small-business management. One great book I read recently was “The E-Myth Revisited” by Michael Gerber. It really challenged me to think about business structure. Reading books on a regular basis is extremely helpful when learning to effectively manage a business.

Thinking time. I run a lot. I am actually training for another 26.2-mile full marathon, and that means that I will be running for even longer periods of time. What do I do with that time? I think. I think through potential deals, ponder various business structures and debate future hirings. I then consider how the finances need to be aligned to support these decisions without stressing the cash flow of the business.

Yes, the business side of doing business can be intimidating, but it does not have to be. Have fun!