Everyone tends to underestimate just how much work and skill it takes to be a successful entrepreneur. In today’s world, where every person in Silicon Valley carries a business plan in their back pocket, it’s assumed that going out on your own is a predestined path. With one brilliant business idea you can strike gold and take your fledgling company public one day. Riches surely await if you can just get some venture capital money. In reality, the entrepreneurial path is more complex and far more difficult than that.
When you embark on the entrepreneurial journey, you’ll quickly find that you are now responsible for every aspect of creating and managing your hopefully successful enterprise. If you had been working for a large company before, you enjoyed the benefit of specialized departments that handled very specific aspects of the business, like Human Resources or taxes. As the owner of a brand-new company, though, you will find that you are solely responsible for all aspects of the venture and you’ll quickly discover just how much you do not know.
Get All the Education You Need Now, and Pay for It Later
As an entrepreneur who is investing in their own enterprise, you know the value of being able to take out a loan now to pay for something you need right away. Unfortunately, most banks won’t lend money to new entrepreneurs who are just starting out and don’t have a proven track record in the business. It’s possible to get the education you need now, though, by applying for a student loan. You can pay for your entire degree program using student loans, as they can cover your tuition, room and board, fees and even books. With a college degree, you’ll gain the valuable knowledge you need to run your company and guide it to success.
Lessons Learned Can Be Expensive When You Are an Entrepreneur
One of the big reasons why it pays to go back to school and get your college degree is that lessons learned can be very expensive when you are footing the bill for everything. If you were working for a bigger company as an employee, you’d be responsible for one area only and, if you made a mistake, it likely wouldn’t cost you money out of your own pocket. When you own your own business, though, you are the one paying for your mistakes and the lessons you learn from not doing everything correctly. It pays to learn through education and gain the knowledge you need that way, instead of through the school of hard knocks. Going back to school could save you tens of thousands, and maybe more, in the long run.
Ability to Network and Share Ideas with Fellow Students
If you are starting your own business, it’s invaluable to be able to network with fellow students and to share ideas. Given the allure of startups and the potential for hitting it rich, there’s interest in colleges and universities regarding entrepreneurial opportunities. As you go through your degree program, take opportunities to brainstorm with others in your classes and to seek out networking and connections that could be beneficial. You may find that a winning concept emerges from a chance encounter, or your next big idea grows out of a networloaking session you had.
