It is never too late to start, and there is no age to learn.
Your MBA course and degree can teach you about business, how it works and how to make it better. In other words, taking lessons in a business school and earning your degree in Masters of Business Administration will make you a business savvy individual required to run a business, with proper skills, earn a job as a business executive, membership on the board of directors or the knowledge required to launch your own startup. But what that fancy degree certificate will not offer is the path or guidance to find the way to success. Many of the most successful business entrepreneurs in the world do not possess an MBA, and many of them are even college dropouts. It’s their passion, zeal, intelligence, wisdom, knowledge, and courage, which has made them successful.
The reports from Wealth-X stated that only 13 percent of today’s billionaires in the world have an MBA degree and only 30 percent of those billionaires have a bachelor’s degree. Statistics clearly say that formal education is something that makes a person a successful businessman. Experts suggest that there is no right path to success but there is something more and that is to learn in business that taking a lesson on strategic differentiation. So, if you are planning to go to a reputed business school and earn a decorative MBA degree to start a business, you might be on the wrong track. Gaining knowledge is always advisable. It is no harm in learning and getting an MBA degree but focusing on some of the below-mentioned leadership lessons that you can acquire now is more important than anything else, if you are more inclined towards growing or starting a business than making your qualification higher.
Slow yet Steady and Organic Scaling is Always Recommended
Initially, no startup has or follows a strict structure, or rather they cannot follow that. It is neither a hallmark nor a priority of a startup to follow a rulebook to establish itself into a cycle of rapid growth. Experts suggest that one should first start scaling their business processes by automating the system and then, use the time they have earned to put it back in the week’s work and focus more on building relationships with clients and organically add new services and bring in new customers.
To Achieve Something Bigger, Sacrifice is Must
Everyone is aware that hard work has no substitute and sacrifice plays a significant role in realizing success. The growth of the entrepreneur and the enterprise are highly dependent on the efforts of the leader, employees, and sacrifice that the entrepreneurs make. It has been observed that the time major entrepreneurs have given by staying awake late at nights in the office and contributing their best to guide the team mattered more than any fancy degree that they have earned. They have given up their leisure time, family, friends and everything else for the benefit of the company. If you are willing to achieve a bigger goal, it’s time you should start making sacrifices for the goodwill of your dream company. You should always remember that the sacrifices are temporary and this is what is going to take the company forward and help their growth in the long run.
Crowdsourcing and Diversification Can Help Business Grow Faster
Experts apparently said that diversification in any business and proper balance of funding plays a critical role in growth. Whether to use your income streams to fund your business is within your control. Present day scenario suggests that entrepreneurs can bring in investors to crowdfund in their enterprises as it has been seen to uplift the business of the commercial robust real estate. It is expected that the development in the flow of the income stream will open new doors into the world of business.
Expressing Gratitude Can help Win Hearts
The English language actually has three main magical words, which is, “Thank You,” “Please” and “Sorry.” You would not lose anything while saying “Thanks” or showing gratitude, so it’s better to start expressing gratefulness than to seem rude, unmannered or impolite. This does not only help you to build up professionalism and make progress in the business, rather it will contribute to boost up your personality. It is always the leader whom rest of the team follows. Even psychologists say that gratitude opens the door to build more relationships. Business pioneers and researchers have apparently said that the network and relationships act as the backbone of one’s growth in business.
The degree can build your educational qualifications, create a status factor in the world of business and education, create an impressive social media and professional network profile but knowledge is something can be earned without even going to a formal educational institution. It’s either the knowledge or experience which guides a man to move on the path of success.
– Rajarshi Chatterjee