We all desire success and we desire this success on a big level, we desire the type of success that could have us fold our arms and relax but still have money coming into our accounts through the businesses that we have been able to build. Today, I will be picking from a lesson taught by a popular author and a successful investor Robert Kiyosaki, where he shared the three basic types of education that needs to be obtained as we go into the lifestyle of what an entrepreneur should know.
The first thing is to get academic education, the education that has to do with the ability to read and write, English language has proven to be an acceptable form of education in our world today so as an entrepreneur you have to gain the knowledge of reading and writing, being able to do simple and basic calculations and understanding what is being taught by teachers in the classroom is actually really important for you as an entrepreneur.
After getting the academic education it is also very important that you have a professional education, there is surely something that you like and when you like it, you should get to practice it that is what the entire essence of professional education is, be a professional at a skill of your choice.
Financial education is very important and the most important type of education that an entrepreneur needs to get, financial education is needed in order to differentiate between what an asset and a liability is, when an entrepreneur knows the difference between the two it becomes easy for the life of such an entrepreneur to be planned.
Entrepreneurs who do not have financial education often buys liabilities at the beginning of their business success and this often result in business failure sometimes. Entrepreneurs getting financial education also results in understanding what cash flow is all about, with the understanding of cash flow it will be easy to determine what is coming in and going out of business which will in turn lead to the financial stability of the entrepreneur.
I will like to buttress more on financial education because I believe that financial education is the best type of education that every entrepreneur needs to get, it is easy to spot an entrepreneur who has financial education because all they will think about is the constant growth of the business before luxury but an entrepreneur who has no financial education will mainly think about using the profits made from business on luxury and less on business development.
You've made some really good point... As an entrepreneur, it is very important to have a sound financial knowledge because finance is one of the key elements of entrepreneurship
Hello @ben-edom Financial education allows you to understand how money works in the world. In this way, one learns how to raise, manage and invest one's own capital. A person who masters financial education can make informed decisions about his or her finances and is less likely to fall into debt or financial problems.