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There is no simple answer to this question. Entrepreneurship may be a product of the highly educated or a product of life experiences. The road to success is exciting and varied. What works for one personality will not work for another.

An education (whether formal or not) that is varied and exposes the individual to challenges that will test his ability to cope will prepare him to take on the task of entrepreneurship. Formal education is important, but is by no means the only path to success. Our literature is filled with examples of poor, uneducated people that have succeeded in business.

Personality is important and that is influenced by life experiences as much as by formal education. A background that has required an individual to learn to deal with difficult situations and sometimes mediate arguments between peers provides insight into human nature that will translate into business success.

Different types of entrepreneurship might require different skills. If a person is planning to manufacture an item, it will require mechanical background in constructing and testing that item. If a person is a writer, a study of literature or journalism is more helpful. A person that plans to be a travel guide or fishing guide must have the life experiences to be a good communicator and teacher and enthusiasm to share their skill with their clients.

Regardless of the product, skill or service that you plan to offer, you must be able to sell yourself. If you cannot sell yourself, you will not be able to promote your product or service to your customer. Unless you are and inventor and sell your ideas to a company, you will need communication skills and even then you will need to be able to deal effectively with the company that is considering your invention.

Entrepreneurship is a road with many turns and detours. The map that works for one individual may not work for another. You must draw on your formal education and use the skills that it helped you to develop, but you should also utilize the skills that were derived from experience.

Personal relationships can be a vast source of knowledge and over time develops our ability to deal with our fellow man. A person is foolish not to tap into these resources to further his business venture.

You may not get a diploma for graduating from the school of life, but don't ignore the abundant resources that it has provided to make you more successful in life and business.

As a business executive, I was once asked to give a presentation at a seminar on flammability testing for children's sleepwear. Knowing that the other presenters were doctors and researchers and much more formally educated that I, I was somewhat apologetic in introducing myself and giving my qualifications. I will never forget what the late Dr. Fred Fortess, doctor, writer and educator, said to me after the seminar. "Don't ever apologize for your education. You have more practical experience that most of these people here and have a lot to offer the group."

Dr. Fortess realized that in addition to the formal education that we attain, the experiences that to which we are exposed may be equally or more important. That is a lesson that we should not take lightly in our adventure along the pathway of entrepreneurship.

Learn more about this author, L. Woodrow Ross.
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