What Education is Needed to Become an Entrepreneur?

    Is more education needed to become an entrepreneur? The answer depends upon your current experience and education. But the simple answer to both questions is, Probably.

    Formal Education

    When it comes to formal education, you should at least have a high school degree or GED. Every business owner must know how to write and do basic math.

    Many entrepreneurs have a bachelor's degree, but not all of them do.

    Also, a Masters in Business Administration (MBA) might benefit you, especially if you already have a bachelor's degree but lack industry experience. Many thought leaders encourage budding entrepreneurs to pursue an MBA.

    But before investing in a full college degree, you should do your homework to see if the program is up-to-date (many business programs nowadays can’t keep up with the Information Age), focused on business ownership (rather than a corporate job), and cost-effective (it certainly doesn’t help to be paying back college debt while launching a business).

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    Many industries offer schools (such as culinary schools for restauranteurs), apprenticeships, and certifications. These will often be more affordabl, but the formal training could be just as valuable.

    Industry Experience

    Besides formal education, your need for more education depends upon the type of business you want to launchIndustry experience is usually the best education needed to become an entrepreneur.

    If you lack industry experience in the field you feel attracted to, consider teaming up with someone that does have industry experience.

    Furthering Your Education

    When it comes to what you need in order to build a business plan, you will be far more successful if you seek additional education.

    Whichever education channels you pursue, decide what you hope to gain. Talk to experts. Make sure that your education properly achieves two things:

    1. Your education should increase the skills you need to be great in your field. If your industry offers schools or tests that challenge you, then take advantage of them.

    2. Your education should increase your ability to engage your ideal customers. There are many great programs out there, such as HubSpot Academy, that will equip you for free.

    Use the two criteria above and make a list of things you want to learn. Build a curriculum for yourself and stick to it. Upgrading your skills and education can be fun and a great training ground for learning to be your own boss!