Top 10 Lessons Business Owners Learn After College
Learning is an integral part of human existence and going to school embodies the formality of it all. We aim for higher education to enrich our knowledge faculties and complete this educational phase with flying colors. Little do we know the real world out there is about to give us bigger and brighter lessons that no professor, no textbook and no formula ever did back then.
Business owners share the same exact story. College courses do offer the necessary preparations for the standards and the possibilities that come with running an enterprise. In almost all cases, however, individuals are all drifted toward take the real course called life and the reality that it is. While learning the concepts of business taught in school did pay off, they may all seem a blur when the real deal lies before each start-up business owner.
Entrepreneur.com points out 10 real-life lessons in business that your college education might have never taught you, and never will:
1. Deal with failure.
Colleges don’t prepare you for failing a class or not landing a job after graduating. This is something that you will have to discover and cope with when joining the startup world.
2. Raise money.
Raising money for a startup is infinitely more complex in its paperwork. Investors and banks expect you to present a detailed business plan.
Being able to understand a profit-and-loss statement or balance sheet is vital. You will have to be able to budget expenses– skills you may not have picked up in a college lecture hall.
4. Pivot if necessary.
College students often change majors and transfer to another school. That’s not something widely advertised.
5. Think outside of the box.
Connecting with people in college is not the same as engaging with people in the real world. When running a startup, be ready and willing to reach out and engage with the right people.
7. Become a salesperson.
Being a top-notch salesperson is hardly something that can be taught in a classroom. It’s a skill that must be refined over time through experience.
8. Mind your health.
Your health may not have been a focal point back in college. But at a startup, you and your employees will put a lot of hours and hard work.
9. Become a boss.
Other [people] become great leaders in college. But being a boss – that is, actually managing employees – means that you should be able to guide, inspire and even make tough decisions.
10. Manage your time.
In college, you could enjoy leisure time.That won’t happen at a startup.There is no free time. You’re going to be working essentially 24/7, no matter how tired you may be.
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