Why Business Owners Must Return to School (and How They Can Do It Right)
Anyone can start a business – but not everyone will succeed in business. Time and again, history shows that those business owners most likely to find business success are those with motivation, determination – and education. An advanced degree may not be a necessary stepping stone to greatness in business, but knowledge, skill, and experience certainly are. Ultimately, the easiest way to acquire the qualities of successful business leaders is through school.
Regardless of your current status as an entrepreneur – whether your small business has been thriving for years or you are just about to launch your startup – you should consider returning to formal education. In university courses, you will learn to adapt to shifting business landscapes, fill gaps in your abilities, and find new techniques for improving your business.
Staying Up-to-Date on Tech and Techniques
With the technological landscape developing at breakneck speed, it is imperative that you stay up-to-date on the latest devices, applications, and other tech that might benefit your business. Unfortunately, it is extremely difficult to keep current on emerging tech while you are focused on managing day-to-day responsibilities of your business; without concerted effort, you could be the bumbling Luddite boss you used to complain about.
A business that lacks a crucial new technology can quickly become ineffective and obsolete in this tech-savvy world. In classes, you can learn about existing tech as well as emerging tech – but most importantly, you can learn how new devices and software might apply to your business. By returning to school, you can break your old tech habits and become accustomed to adopting new tech as necessary for success.
Rounding out Your Skills and Knowledge
You can’t know everything – but you can get close, especially when it comes to knowing what you need to ensure your business’s success. Even the most experienced business owners have gaps in their knowledge of finance or marketing, but by recognizing their weaknesses, they can strengthen them with concerted effort and education.
Even if your return to school fails to make you an expert in every facet of your business, it is smart to have some background in the fields that will help your business grow. Returning to school gives you the opportunity to eliminate your knowledge gaps, thereby becoming a better leader for all of your employees — not just those who share your skillset.
Diversifying Your Existing Business
Eventually, your business will grow into unfamiliar territory, offering products or services you know little about or targeting audiences you have never encountered. To prepare for this event, you should return to school to acquaint yourself with the unknown and new.
Universities – and nearly every educational institution – are utopias of diversity, where people of almost all backgrounds have the opportunity to learn and grow. By interacting with your student peers as well as your experienced professors, you will gain awareness of alternative options for expanding your business.
Doing All This Without Abandoning Your Work
Few business owners disbelieve these arguments- but many business owners remain opposed to returning to school for one valid concern: They believe it is a waste of time. To attend university courses in the traditional sense, you would need to devote your and nights to attending classes and studying, leaving almost no time to run your business. Thus, while preparing you with additional skills and knowledge, returning to school effectively halts your business’s progress for two or more years.
However, this only pertains to on-campus, in-person universities. For entrepreneurs who already have burgeoning businesses, there is a better way: online programs. Online classes are significantly more flexible than traditional courses; you can choose how much you take on as well as when and where you attend school. No longer does school necessitate you leaving your job – and passion – to enhance your qualifications. Additionally, more degree programs are available online every year, so you can choose from a vast array of education opportunities that may be relevant to your specific industry or business, from an online MBA to online biomedical engineering programs.
Online education makes it possible for you to be a successful business owner – with an active and thriving small business – while enhancing your abilities by furthering your education. By returning to school, you will gain insight into the best methods and tools to grow your business, including useful tech, applicable skills and knowledge, and alternative views. Then, you won’t just be anyone who started a business – you’ll be you, an extremely prepared business owner who is more than ready for success.
