There are many different schools of thought on how a formal education affects your success in life and in business. In Corporate America, an MBA is often the minimal required standard by which C-level employment is considered. When it comes to small business application, a formal education is merely a tool by which you have gained basic knowledge about general topics.

It has been my experience that a formal education is nothing more than a “license to learn” once you enter the workforce. If you plan to enter the world of Entrepreneurship or become a Small Business Owner, you’ll quickly find that your “real” education starts the day you decide to open for business! That’s not saying that a formal education is somehow not important, quite the contrary!

A formal education will give you many skills that the non-educated entrepreneur will need to learn the hard way. Either way, you should know that your thirst for knowledge should NOT stop the day you graduate college or in this case, start your business…

Take Time to Educate Yourself

You started your business because you had particular skills and a passion that set you apart from others in your industry and ultimately led you to become an entrepreneur. Small Business Owners and Entrepreneurs that continue to learn new and innovative techniques to differentiate themselves from their competition are generally more successful in growing their business, than those that offer the same old services that everyone else does. But educating yourself yields far higher results than just being able to offer innovative techniques to differentiate your business.

I have personally been an entrepreneur for over 20+ years and I continue to try to read at least 1 business book a month. You think you don’t have the time to educate yourself, correct? That’s a bunch of crap and you know it. I don’t have the time either…its call multi-tasking!!

Here’s what I do! Unless it’s absolutely necessary or someone is paying for it, I eat my breakfast or lunch alone. I try to build one hour a day into my schedule to go to my favorite deli, sit at the counter and knock out a chapter or two in a business related book. Would it be more fun to read the sports page…probably, but reading the sports page never made me any more money! (Unless of course you’re a fantasy sports fanatic, then maybe I understand) So in that situation, switch back and forth between the book and the newspaper.

I also take my book with me while I’m waiting at the airport, waiting to pick up my daughters from school and most importantly, when I get a few minutes to relax and be alone with my thoughts…I think you get the picture! But educating yourself is a choice, make the choice and see your income soar!! Now remember, my advice is to take the time to educate yourself to learn what new and innovative ideas or techniques can help your business grow and prosper!

I personally live by one of my favorite quotes by Albert Einstein where he said that “doing the same thing over and over again and expecting different results is Insanity”! Learn something NEW; you’ll be glad you did!!