Education’s importance can not be emphasized more when it comes to entrepreneuship. Indeed, an enlightened mind would be better prepared to handle the vagaries of the domain, however, it’s not that the highest qualification or the most expensive business school graduation would definitely lead you into a dominant entrepreneurial position.
In the story of Coca-Cola Bangladesh, a leading successful bottler had his two sons sent to USA for further studies. One studied at Boston University, the other at Harvard. After their graduation, they both got six-month training in Coca-cola Atlanta head office. Returning from there, it seemed like they would quadruple the family business in no time. What happened, though, was a lot of arrogance, indifference and lack of initiative took them into complacency, which eventually took the company operations into huge losses by 2005.
It’s funny how people start believing they know everything, or almost everything and disregard any one else. Precisely this is when the downfall of great people, businesses, empires and states start.
Although firmness is good, but rigidity is a weakness. Flexibility & humility are great strengths that go a long way to deliver in entrepreneurial pursuits.