Going Back to School and Running a Business: FAQs and Benefits

Looking for ways to grow your business during the pandemic? Have you thought about going back to school? If not, you may want to. That’s because with most learning moving online, there’s never been a better time to earn your degree. Not to mention that having a degree can help you build more skills and help your business build more legitimacy.

Want to learn more? These FAQs presented by the Live Business Guide may be helpful.

Do Business Owners Really Need a Degree?

There’s nothing stopping you from opening a business without any formal education. Without at least some insight or experience, however, you may have a harder time getting that business set up for success. At the very least, you should consider investing in coaching from a firm or organization like the Entrepreneurship Center. But a business degree can give you an edge! Better yet, combine your degree with coaching so that you have the perfect recipe for success.

How Can Entrepreneurs Ensure Class Flexibility?

Now that you understand the benefits of having some sort of degree, you may be wondering how to make schoolwork with your existing schedule. If you enroll in a program right now, you could have the added perk of completing all of your courses online. You can even earn an MBA or other advanced business degree that will give you all of the top skills you need, all while learning at your own pace. In fact, online learning has become more popular than ever.

How Can Small Business Owners Budget for Tuition?

Taking classes online will provide you with the flexibility you need to still run your business. In addition to flexibility, many online programs tend to be less expensive than traditional colleges and universities. So, this may help you fit tuition costs into your budget. You can also check to see if you are eligible for financial aid. Scholarships, loans, and grants are all options to consider. The first step in applying for any sort of financial aid is to complete an online FAFSA form.

How Can Business Owners Balance School and Business?

With most online programs, you can log in and complete coursework whenever you have time. This is why so many small business owners may opt to complete their degrees virtually, rather than trying to take classes on a traditional college campus. With this being said, it’s still important to employ certain strategies to ensure you don’t feel burned out or overwhelmed. The organization is going to be but you also need to set boundaries to minimize distractions. You should also let your instructors know you own a business. Most are very understanding.

What Additional Resources are Available Right Now?

Another reason why business owners may be considering going back to school is that they have more free time due to the COVID-19 pandemic. If this is the case for you, know that enrolling in classes and building on your existing skills is such wonderful use of your time management. You’ll come out of your program feeling more confident about helping your business. You should also know that assistance for small business owners is still available, to help keep you afloat.

How Can a Degree Help Owners Who Had to Close Their Business?

Unfortunately, there are countless small businesses that have had to close their doors permanently due to the pandemic. In these cases, the financial assistance programs mentioned above may help, but going back to school can also help these owners figure out their next step. If you are thinking about making a change and giving up your business, you can research the most in-demand degrees. That way you can maximize your job and earning potential.

It’s never too late or the wrong time to further your education. You can take a class or two here and there, or you could enroll in an online program to earn an advanced degree. Either choice is a productive and practical way to use any extra time you may have due to pandemic restrictions. Also, there are plenty of financial aid programs available to help with extra costs. The Entrepreneurship Center @CTI provides resources that empower entrepreneurs.