How important is getting a formal business education to someone who wants to be a career entrepreneur?
Education is ALWAYS important. I have a formal education. I value it for it has taught me the skills to become a life-long learner. It has helped me in my primary profession. However, as an entrepreneur, it is not formal education that is as important as educating yourself constantly and over a lifetime. Here is what I suggest: 1) Get a coach or a mentor and follow their suggestions. 2) Work with an established system and learn the principles of that business through practice, failures, and successes. 3) Work on your attitude every day. 4) Read a book a week in a variety of fields including entrepreneurship, personal development, sales, technology, human behavior, and leadership. 5) Read magazines and journals related to your field. 6) Meet people every day and learn the art of networking. 7) Attend conferences related to business, entrepreneurship, and leadership. 8) Interview successful entrepreneurs as a regular practice. 9) Surround yourself with positive people. 10) Listen to at l
I became an entrepeneur in my fifties, and I am an attorney. My opinion of MBA programs is not very high. If anything they can damage your ability to be an entrepreneur. Business is not about formal structures and numbers it is about marketing to, selling to, and managing people. Numbers help you understand what you are doing but they aren’t the end all and be all. A liberal arts education can help you because you need good communication and research skills. A legal education can help you because you need to understand the rules that apply to your business, business tax and business structure. A business education can help you because you need to understand accounting and financials. I think ANY education is useful, but not essential for an entrepreneur. Real world work experience, especially sales experience is close to essential. I’ve seen plenty of MBAs who absolutely stink at running a business and I’ve seen plenty of people without a high school diploma who are great at it. An edu
