Do Entrepreneurs Need to Go Back to School

Do Entrepreneurs Need to Go Back to School

In our society, the idea of attaining an education ends in a job or a promotion to fulfill our professional desires. It is rare to hear about a well-known CEO that decides to finish their University education to improve the quality of their business. A formal education to improve business negotiation skills or to improve your understanding of financial management is a wise investment.

Napoleon Hill’s concept of a mastermind group encouraged the idea that it is best to surround yourself with people that are well educated in other areas to help you accomplish your goals. However, it is wise idea to obtain an education depending on your overall business goals.

Who is Teaching the Course?

The most successful entrepreneurs take advice from people they are willing to trade places with in life. The question that you need an answer to before deciding to go back to school is if the professor is a successful business owner. The concept of taking business courses can lead a person to a managerial or employee position. However, if the teacher is a corporate employee, is the information going to be helpful to a full-time business owner in the real world.

Show Up to Class as an Entrepreneur

If you decide to take a few courses to improve your understanding of a new technique or skill, show up to class as a business person. Attend class prepared as an entrepreneur with an elevator speech and business cards because you might potentially meet a new client. You can update your LinkedIn profile to ensure it is professional because people attending the class will be interested in finding out more abut you.

One of your classmates might be a potential business partner or a mentor. The act of attending an adult learning course or regular course can open the door for you to meet like minded people. You are not only paying for the education but the opportunity to network.

It will depend on your industry

Do you work in a constantly changing industry? You can benefit from enhancing your knowledge if you work in technology, politics or law. It can be difficult to run an empire, manage a team, go home and take care of a family without feeling overwhelmed with business changes you don’t have time to learn.

You can consider a convenient option of taking an online course to help you become well versed with members of the C-suite. If you are a visible leader, it is a good idea to know your industry inside out.

Employees Can be an Educational Vessel

It is true that some successful CEOs read books to broaden their scope. Their employees are the subject matter experts that take the time to educate them on new technology trends without them having to step into a University. It ties back to Napoleon Hill’s mastermind principle that your team can help you prevent time in a decade of education because they are subject matter experts that can help you achieve an organizational goal.

An independent contractor can benefit

If you are the only person running your business without employees, it can be beneficial for you to go back to school or attend a few courses for business purposes. Depending on your tax situation, you can deduct the cost of the course as a business write off. In addition, you can market your services to new audiences that can result in an increase of revenues.

Final Thoughts

Before you decide to register as a new student at your local university or college, ask yourself, what are my intentions? You can save yourself the money and time in an education by tapping into your mastermind group of managers or employees.

If you are a freelancer or independent contractor with no employees, an education can help you gain a return on investment in the cost of an education.

Most importantly, if it is important that your professor is a retired entrepreneur with a successful track record or a proven business mogul, it can be a good decision to learn from someone that can offer real life advice to propel your business to greater heights.

 

Makeda Waterman

Makeda Waterman is an online journalist with writing clips on CNBC Make It., Yahoo Finance News, Huffington Post, and Glassdoor.com, among others. She is passionate about helping people enhance their career.