Tightrope: Why knowledge isn't the real power

— -- Hi, Gladys,

I have graduated from college with an MBA. I would like to start a business with a partner. However, of the people that I have asked to join me, not one has accepted. Each one claims that just because I have a degree is no indication that I will be successful. I believed that my education is sufficient. Now I am having doubts. How much knowledge do I need to run a business?

Vincent

The making of a successful entrepreneur is about more than getting a college degree.

Some people think that once they finish their formal education, learning stops. Nothing could be further from the truth. The world is constantly changing, as are our businesses. New technology and new sources of information require constant updating of our skills and knowledge. To stop learning is to fall behind and drop by the wayside. You must constantly enrich your life and your skills if you are to be successful and fulfilled.

My suggestion is to develop a system to keep learning as a constant in your life, especially if you are planning to own your own business. The following questions can be the start of a guideline to follow.

What information or knowledge could expand your ability to become a better business person? For example, learning a foreign language, taking a course in marketing or public relations or taking a course in hiring employees. The idea here is that there is always something you will need to learn to improve your business.

What kind of things do you enjoy? What are your favorite hobbies? What type of books or movies do you like? Keeping up to date with the latest on your hobbies can even find its way into helping you in business. The sluggish economy, for instance, found Alonzo unemployed. In order to make ends meet he started a car detail business. To get a steady stream of customers, he called on a car rental company to see if he could get a contract. The company manager immediately said no. But as Alonzo was about to leave, he noticed a model airplane on the manager's desk. After he told the manager that he enjoyed making model airplanes, that small comment turned into an hour-long conversation and landed Alonzo a contract with the company. Turns out building model airplanes was also one of the manager's favorite hobbies.