Lifelong learning is seen as a vital pillar of extending one’s working life – as reported by the OECD. Currently, around 35% of college students in the U.S. are parents holding down jobs or students who wish to remain in college for an extended period of time. If there is a subject or profession that has always fascinated you, or you wish to gain more specialized knowledge in your current field, further education can be one of the best investments in your startup’s future.
Meeting Other Visionaries
Harvard, Stanford and MIT are three universities known as hives of startup creativity, but that is not to say that great companies aren’t arising from other universities. College attendance provides a unique opportunity in terms of networking with potential co-founders, partners or even collaborators. As stated by Money’s Kaitlin Mulhere, college campuses also give students the opportunity to rely on their professor’s industry expertise in areas like business, finance and technology – all aspects that need to be strong for a startup to succeed long-term.
The Business World Is Changing Fast
Georgetown University researchers reported that in 2020, 30% of all job openings would require a bachelor’s degree and 30% would demand a college or associate’s degree. You may have the business plan, investment and vision to make your startup work. However, continuing your studies and achieving a degree or postgraduate degree is part of the crucial Plan B that every business founder needs to have. Around 90% of startups fail, so building up an impressive CV in the meantime is key.
Getting There Fast
The five most popular startup sectors, says UCI Beall, are B2B software services, healthcare, consumer goods and services, fintech and consumer media. A startup founder can be highly specialized in technology and medicine but lack the business acumen an MBA can deliver. Some mature students are concerned about the time involved in study.
However, as stated by My Degree Guide, there are many options for students wishing to take a short-cut. These include accelerated degrees and even doctorates without a dissertation. Some degrees are competency-based. That is, you can skip lectures and avoid homework, showing your competency through assessments, capstone, and portfolios.
Learning Can Be Experience-Based
Before starting your own company, you might decide to gain unique insights into how startups work by doing an internship at one. Doing so will not only boost your CV, but also expose you to strategy, meetings and challenges that entrepreneurs face. While you’re completing your internship, you may realize you need further knowledge in specific fields or, on the contrary, hone your confidence and realize that you are ready to start at this precise moment.
There are many reasons why embracing lifelong learning is beneficial, not only for startup founders but also for their employees. Postgraduate degrees such as MBAs, in particular, can impart invaluable insight into management and leadership – skills that work just as well for entrepreneurs as for managers.
Of course, learning does not have to occur exclusively in a traditional institution. You can also opt for online and accelerated degrees that keep you up to date with the latest business trends without wresting too many hours from your full-time job or startup.