Should Entrepreneurs Pursue Formal Courses?

Entrepreneurs may now consider studying further

In our country, largely entrepreneurs are of two types – a kind who take the baton of his family business forward and expand it accordingly, and others who start all from scratch without any prior experience into business whatsoever. And for both the classes, education and other formal courses vary as per their career objectives. While one has a set business, knows the nuances of the game, the other is completely new, and faces new challenges in every turn of his career path.

Beyond that regular commerce, science and arts courses; entrepreneurs should pursue some formal professional courses that will help them to accelerate their venture to the next level and also have an edge over the competition in the market place. With growing competition, knowing the customers’ pulse is the key and implementing the learning would need some hands-on training on formal courses.

As an employee, there’s always an opportunity to learn the best from bosses and seniors. But as an entrepreneur that choice nullifies. Entrepreneurship is all about doing the right thing at the right time; learning from failure and starting to build the next block, moving forward and diversifying. And this will need some formal training to sharpen the natural skillset. Some of the key skills which could be nurtured through formal courses are as follows:

Leadership skills and managing workforce

Decision making abilities in tough situations

Negotiation skills

Effective communication and presentation

Execution skills

Convincing power

It is believed that a B-School degree or a MBA could foster entrepreneurship and innovation in aspiring people. While it could make you stereotypical, a future entrepreneur could get the best of MBA by following some basic tips.

More case studies for real exposure

Learn how role models made it up big

Build a strong network

Be creative and innovative

MBA is time consuming, but in the long run the subjects offered by B School courses can make you a wholesome businessman. If those text book learnings are mixed well with practical exposures, then it creates best of entrepreneurs.

Even if the regular B school courses are hard to achieve, there are short- term courses designed specifically for entrepreneurs that could be leveraged. The duration for such programmes is usually two – three days or for a couple of months too, best suited for busy businessmen who are already running their venture yet want to get sharpened with certain skillsets. Following are some of the renowned courses available:

Harvard Business School’s course on negotiations and leadership development.

Stanford University’s course for budding entrepreneurs.

London School of Business’ programmes on Strategic Brand management.

University of Illinois course on Product Development.

Indian Institute of Management’s specially designed course on Strategic Management and Digital Marketing.

XLRI’s specially designed programme for Leadership and Personality development.

Even before registering for a course, one should do certain FAQs with self, to understand your own objective and how would the course help you in your venture.

Have you ever pursued any formal course to sharpen your skills as a businessman? Do share your views.