There are two opinions when it comes to entrepreneurship and grad school. On the one hand, there are those who believe that school is a waste of time and money for people who want to start their own businesses. On the other hand, there are those who support the idea that advanced education should be a good starting point for aspiring entrepreneurs. This article explores some of the key reasons why, as an aspiring entrepreneur, you can consider grad school.
Grow in Knowledge and Skills
Graduate school can equip you with knowledge and skills that make you a better entrepreneur. You not only benefit from classroom learning but also discussions with experienced and other aspiring entrepreneurs. While anyone can start and run a business without any formal education, the skills and knowledge you get from grad school can give you greater advantages. Consider this – most businesses check not only the experience, but also the academic qualifications when hiring. Why? Because there is some value that you get from education. Thus, even if you are not after employment, your business will benefit from the skills and knowledge you get from grad school. At The Christ School we prepare our graduates to excel at the next level through an engaging and experimental learning environment.
As an entrepreneur, networking is essential for your success. In grad school, you will not only get an opportunity to network with your fellow course mates but also the lecturers and guests who get invited to give talks to the students. And some of these lecturers and guest speakers are successful entrepreneurs and thus, there is much to learn from them as you create lasting relationships. As you explore grad schools to attend, be sure to look at the profiles of the lecturers.
Networks with your fellow students are also very beneficial. Remember, these are people who have great aspirations just as you do. You can create relationships where you discuss ideas and motivate and support each other. When you interact with likeminded people, you can broaden your business perspectives. And, surprisingly, some networks from grad school end up as business relationships. However, the initial goal of your interactions should be to share, motivate and support each other. If there is a possibility of a business relationship, it will come later.
Some grad schools can link you up with mentors and experts who can offer you guidance and help with ideas evaluation. Mentorship is essential, especially for first-time entrepreneurs. You can get access to someone who will answer your questions on starting and running your business. If your grad school doesn’t offer that, you can approach your lecturers or any successful entrepreneur and request them to mentor you.
Better Decision Making
The learning, the interactions and the mentorship can help you to be better at making business decisions. With more knowledge and exposure, your decisions can be more informed. Remember, as an entrepreneur, you will have a lot of decisions to make, and making the wrong decision can break your business.
However, note that all learning happens at grad school. As you take your course, remember to keep checking tips from successful entrepreneurs and attending networking events. When you start your business, keep learning from your successes and failures and also from the experiences of others.