Post secondary education vs. experience and self learning/mentorship. Is it worth it for me to go back to school for formal business training?

The short answer: yes. The longer answer is that both are just as necessary and go well hand in hand. In formal education you will learn a lot of theory, not all of it applicable or applicable in the format as presented. That is where actual hands on experience comes in.

On the plus side, in formal education, you will be exposed to a lot of ideas that you may otherwise never see. You will get to experience other industries and other approaches. Businesses tend to get siloed in their scope and there is little if any cross over of best practices.

The bottom line is that you will always be learning as an entrepreneur. As a scientist and engineer, I have done startups for 20 years. For the first 10 years (and 2 startups) I had no formal business training, then I decided to go back to get my MBA in Entrepreneurship. I chose this route to get a firmer foundation on the business side as my formal education (BS Chemical Engineering, PhD Biomedical Engineering) provided very little background in business-related activities. Going this route has helped me converse in both highly technical vernacular and business-focused discussions. I work with medtech and biotech startups, so such capability is crucial.

Aside from the formal education, going back to school for business training can also provide you with other benefits such as broadening your network, access to discounts (as a student), ability to pursue many business plan competitions to jumpstart your company, and low-cost or free advice from your school and it's connections regarding everything from legal issues to business formation (depending on the school). However, you may not need such support depending on the type of business you plan to launch.

Going back to school takes commitment of both time and money which you will be taking away from launching your new venture. It's not necessary for you to go back to school, but, depending on your career goals, your learning preference (formal, hands-on, etc.), and your business concept, it could be beneficial.

As others have mentioned, you may only need to attend some local business networking meetings and take some classes through your local Small Business Administration office.

Best of luck!

I have been an entrepreneur, President of several companies, and VP of healthcare organizations and I couldn't have done much of it without my education. Education matters only to a certain point. If you are not planning on being a professor, then maybe you should just concentrate on what you love to do. Passion is the real key.

It really depends on: what business will you be doing, and who will you be doing business with?

Personally, in my carreer - I work alongside some of the most brilliant executives & business owners in Canada. My experience leads me to believe that a formal education gives you very well-rounded start in most areas of business alongside more depth of understanding. It does well to answer the question of "where do I start & what do I need to know?"

In entrepreneurship, information is leverage, and leverage is key. So, if you see yourself in a vertical where the sort of information offered in most traditional business schools will be of benefit, and you have the financial ability to commit to going back to school for this program - I don't see why not.

At the same time, building experience ontop of that information or education is where you will really shine. If "the price is right" for you, and you don't see a viable alternative - do it. But it's most definitely not the only option.

I can agree that education today is not only about reading books and doing homework. It's about how mobile you are and how best you can use all external resources. I can advise you to pay attention to - https://www.aussiessay.com/ - a very high quality online service that simplifies the process of writing written works