While some seek academic preparation such as master’s degrees or specializations to create their companies and feel like expert entrepreneurs, others simply carry out their ideas by working in silence.
In short, they take risks without thinking about whether or not they are prepared, because ultimately it is never a good time to undertake. As he suggested Richard Branson: Successful people start before they feel ready.
In the arduous path that I have started to travel up to now as an entrepreneur, I have detected some signs of why creating a company can be more enriching, both personally and professionally, to do a master’s degree in your country or abroad. Here I present them to you:
1. Feeling ready vs. Start before you feel ready
Successful people start before they feel ready, how true!
You can do a university degree, specialization, master’s degree, doctorate and even a post doctorate (great deal!) in entrepreneurship and never you will feel that you are ready to start. Sounds familiar, doesn’t it?
Many people spend their lives preparing, waiting for the right time to come; and then, as the years go by, they begin to feel that they lack the youth to undertake…
Excuses like: must pay rent, services, buy food, and meet other obligationsso you can not put the salary at stake!
Start now!, do not give it more laps. As my aunt says: “You can’t wash the dinner dishes at breakfast”, don’t worry about the challenges that haven’t come or may never come, she undertakes today and lives day by day.
2. Money to study vs. Working capital to start your business
Let’s not lie to ourselves, if you want to study at a high quality university, either in your country or abroad, you are going to have to pay a lot of money: if your parents help you, God have mercy on them! .
On the contrary, if you plan to finance your studies, you will have to compromise your economic future for a few years, since on average, a master’s degree costs between 25 and 30 thousand dollars.
Apart from the capital, you will have to pay a large sum in interest and then think about what company you are going to set up. It’s a bit illogical, but it’s just my opinion.
If you use that 25 or 30 thousand dollars as working capital, although you will have debts to pay, your money will multiply over time, thus increasing your working capital, your income and your assets.
Additionally, you will have gained some years of experience as an entrepreneur, while others are still studying.
3. Knowledge acquired in the academy vs. The experience doing real business
Studying to pass an exam can be something that demands neurons, time and dedication. Some are not so dedicated and only by applying logic do they get a good grade.
What else is the academy about, apart from passing exams and getting the best grades?
You study too much to learn the theory, but you go out into the real world and see that the content is outdated, the world changes every day and again, you don’t feel ready.
When you start, either from scratch or with some help, but recognizing that you learn along the way, things are in your favor, your mind opens to knowledge and detects each person or business opportunity that can be of great help.
As your business progresses you will become an expert in your field and you will see that learning as an entrepreneur goes at an accelerated pace, incomparable with that of the academy.
Your business lives in your head 24/7, while many others spend hours on campus trying to solve outdated cases, think about it.
4. Academic contacts vs. business contacts
There are few relationships that last once you finish your university studies and some of them are not so productive, friends that you have left for parties and/or fun…does that ring a bell?
If you manage to maintain contact with professors, they can help you, but they are so committed to the academy that their interests may differ from yours.
When you start your business you will be in permanent contact with other entrepreneurs or successful businessmen, you can make alliances and why not, start new businesses where you can contribute your knowledge.
5. I need to learn the business strategy vs. learn from mistake
A Business and Administration faculty will teach you all the existing business strategies, you will even have bad grades if you cannot remember them all, but the reality is that knowledge has value when it is applicable.
Learning from the mistake, even if it hurts (and costs money), is not forgotten. Therefore, I guarantee that you will not repeat it.
To be honest, the entrepreneur is a being hungry for knowledge, and not because he wants to accumulate diplomas, but because of the desire to apply everything he has learned to his reality.
If you take a look at the biographies of the most successful entrepreneurs worldwide, you will find a common factor: They started from scratch and none had a master’s degree in Entrepreneurship.
Continue reading: 25 successful entrepreneurs who made history with their triumphs