Earning a business degree is great and if you have the time, ambition and money to do it, it’s highly recommended. Business school will prepare you for the business world and give you a good head start on what to expect. But there are some lessons to be learned that aren’t taught in business school. These are the kinds of things that can only come through experience.
As a business owner you must make a lot of sacrifices, and one of them is getting paid last. Making sure everyone around you does their best is your job. If you want to be successful you make sure all these people are happy. Just remember that your staff may not always share your passion for what you are doing so treating them fairly and paying them on time will compensate for that.
In any business there will come a time when there are disagreements. Disagreements are not always a bad thing, in fact they are often a good thing. Sometimes there are disagreements that lead to innovation or new ideas that can help the business run more efficiently. Critical feedback within your team is something that should be encouraged and listened too.
Something that may not be stressed enough in business school is respect. In the business world respect goes a long way towards winning new business and keeping the business you have. Treat staff, clients and everyone you speak to regarding your business with respect. There is no place for arrogance or egos here, if you want to build a great business, just be a great person.
Starting a new business is like raising a child, full of surprises, difficulties and rewards. There are no text books or classes that teach you the best way to either raise a child or build a successful business. There are only guidelines to help you evaluate and make good decisions. What you make of it is up to you.