There is a growing misconception that higher education is not needed for — and may even inhibit — entrepreneurial success. Beyond networking with other passionate people, educational programs offer a great place to start learning practical skills that can reduce the learning curve for running your company. Consider these three ways continued education remains a crucial opportunity for aspiring entrepreneurs:
1. By Providing Access To Valuable Relationships
Many universities and educational institutions are contributing to their local startup ecosystem through incubator and accelerator programs. These programs connect young entrepreneurs to real startup resources that are harder to come by when you are starting out on your own — in some cases, leading to job opportunities and access to funding for student-led projects.
2. By Growing Your Ability To Work With People Of Various Backgrounds
To be successful as a business leader, you will need to be able to work with a wide range of people. Employees come with all different personalities, and the more diverse the set, the better at problem-solving they are. Educational programs offer the opportunity to both work with different personalities on projects and interact with individuals from different cultures. Learning how to manage groups of people who don’t always agree will be key to creating a positive work environment in your company.
And what better way to understand the international business landscape than to go visit other countries? Study abroad programs allow you to observe local practices firsthand, while foreign language classes can give you a leg up in the increasingly global business environment. Classes in international business or foreign affairs can help you identify and overcome obstacles to international business transactions.
3. By Teaching Leadership Skills Critical To Success
Half of all businesses fail by their fifth year, and only 80 percent make it past the first. You will need sharp leadership and management skills to avoid becoming one of these statistics. The good news? Business majors are required to take introductory management courses that teach skills like leading others in a business setting. Most programs also offer courses in problem-solving, how to establish SMART goals, and how to build quality relationships with your employees and clients.
Source Credit: Forbes