Advertising
Advertising

5 Ways Graduate School Can Pay Off

5 Ways Graduate School Can Pay Off

My partner teaches at the graduate level, and the value of a graduate degree is something I probably hear far too much about, frankly. If it were left up to Susan, it’s a safe bet everybody would have a PhD.

But, it’s tough to decide while you’re receiving a higher education whether or not you’re going to go all the way with it and enter the graduate level.

After all, once you decide to go for the graduate level, education is serious business. It requires an awful lot of work and a large time commitment, and believe me, those professors who teach at that level just don’t screw around-they demand the highest performance and the very best work.

You have to decide whether or not to put yourself through all that.

On the other hand, by obtaining a graduate level education, you’re investing in your future by showing potential employers that you have what it takes to do the hard work.

Obtaining a graduate level education has many, many advantages if you’re willing to put in the work for it.

Advertising

You’ve got the edge

To many employers, a bachelor’s is simply considered just one step above a high school degree today, and a graduate degree is almost expected from those who are a cut above the rest.

To identify more serious candidates, many companies are going to turn to the graduate degree, because they know just how much extra money, work and time you put into receiving this higher-level education.

When you’ve got a graduate-level degree, you clearly have the edge in today’s job market. Let’s face it: it’s a dog-eat-dog economy out there, and anything you can do to gain a competitive edge is clearly to your advantage.

That’s what a graduate degree will do for you.

A graduate degree will open doors for you that are closed to those with just a BA, as there are certain jobs that are open only to those with a graduate degree.

This is, after all, still a pretty exclusive club.

Advertising

Economic advantage

There are huge economic advantages that come with having a graduate-level degree, because the employer knows just how serious you are about higher education and work.

Obviously, when you hold certain graduate-level degrees, you’re going to benefit from the higher pay that comes with those degrees.

There are jobs which are open only to those with a graduate degree, and some of these are higher-paying jobs. Some jobs that require a graduate-level degree are also a lot more secure.

It’s a lot of trouble for an employer to find the right candidate at the graduate level, and these employers don’t want their candidates to walk out the door and go to somebody else, so they’re going to offer some solid job security.

At the graduate level, you are also more likely to write grants that will enable you to get paid for the research or projects that you really want to do.

Professional networking

Once you’re a part of this elite group of graduate-level professionals, you know you’re going to be working with some of the most-educated people in the world.

Advertising

Whether it’s conducting joint research or publishing in a peer-reviewed journal, you’re working with the very best.

When you’re networking with professionals at this level, you’re going to be privy to leads on jobs or research projects that you’d be locked out of at the bachelor’s level.

Being able to network at this level of professionalism will really pay off, because you’ll be more likely to get high-quality jobs or research projects that offer the best money, job satisfaction, and security.

Job diversity

When you’re pursuing a graduate-level degree, you’re going to be receiving a diverse education, which will really pay off in the work place.

Depending on the specific degree and the experiences it provides, you’ll be able to do everything from teaching at a university to engaging in specialized, high-paying contract work, like writing specific grants or conducting sophisticated industry research.

There’s no limit to the amount of diverse work a graduate-level degree will afford you.

Advertising

This diversity also helps determine what you may teach and opens up the market to various, more diverse jobs that a bachelor’s just doesn’t afford.

When you have this diversity of education, you have the option of picking and choosing from the very best jobs that are going satisfy you more and provide the financial security that you won’t find elsewhere.

Prestige

There’s certain amount of prestige that comes along with obtaining a graduate degree, and employers are going to respect that.  When you hold a graduate level degree, you don’t just get the honor of being called “doctor” or another title, you have the respect that comes along with that.

You’re going to be able to publish in the finest peer-reviewed journals, teach at the finest universities and have the choice of working for the best companies.

With a graduate degree, you’re going to able to command the respect that comes along with that.

Featured photo credit: COD Newsroom via flickr.com

More by this author

8 Signs You Have A Strong Personality That Might Scare Some People How to Achieve Quick Success at Work Even If You’re Lacking in Clear Direction You’ll No Longer Be Fooled by Skillful Liars If You Know This Concept How I Kill Boredom at Work to Regain My Productivity This Is Why Classical Music Lovers Are Smarter

Trending in Career Advice

1 10 Job Search Tools Every Jobseekers Need To Know About 2 10 Websites To Learn Something New In 30 Minutes A Day 3 50 Great People To Follow On LinkedIn, No Matter Your Industry 4 If You Have This Key Behavior, You’ll Be More Successful Than 90% Of People 5 How To Climb Up Your Career Ladder Faster Than Others In A Big Corporate.

Read Next

Advertising
Advertising

Last Updated on October 18, 2018

10 Key Characteristics of a Highly Successful Entrepreneur

10 Key Characteristics of a Highly Successful Entrepreneur

When it comes to starting your own business and pursuing your dream of becoming an entrepreneur, it can be advantageous to go all in and embrace the flexibility of finally quitting your day job.

Keep in mind, though, that it takes a special kind of person to take the business world by storm: a person who has cultivated the key characteristics of entrepreneurial success.

People with these characteristics are likely to succeed, whereas people without them have difficulty moving forward with even the most brilliant business ideas.

These characteristics of an entrepreneur are so important that I’ve decided to cover all 10 of them in detail so that you can start your business with your best foot forward.

1. Successful Entrepreneurs Practice Discipline

Plenty of business experts claim that you can’t get anywhere as an entrepreneur without vision or creativity, but that’s simply not the truth. Instead, the one quality that no entrepreneur can be successful without is discipline.

To build an idea into a business, you have to have the discipline to spend time slogging through the least fun parts of running a business (like the bookkeeping), rather than taking that time to do something fun.

Andrew Carnegie, one of the most financially successful Americans of all time, grew up working dull and difficult jobs in factories. Despite going to bed hungry some nights, he continued doing his best work. He was eventually hired by a railroad company and continued to move up the ladder until starting his own successful businesses. Carnegie is a fine example of an entrepreneur dedicated to discipline and hard work. He truly earned his dreams of prosperity and success.

When you’re the boss, there’s no one to keep you at work except yourself — and there’s no short-term consequences for skipping out early.

Sure, if an entrepreneur plays hooky enough he knows that the business just won’t happen, but it’s very hard to convince someone that ‘just this once’ won’t hurt (and to keep ‘just this once’ from becoming a daily occurrence).

Advertising

2. Successful Entrepreneurs Keep Calm

Things go wrong when you run your own business.

Most entrepreneurs go through crises with their businesses — and more than a few wind up with outright failures on their hands. But when you’re responsible for a business, you have to be able to keep calm in any situation. Any other reaction — whether you lose your temper or get flustered — compounds the problem.

Instead, a good entrepreneur must have the ability to keep his cool in an emergency or crisis. It may not make the problem easier to solve, but it certainly won’t make it harder.

Honestly, losing your calm is a quick path to becoming the kind of person who gives up in the face of adversity. Instead giving in to frustration, remember classic entrepreneur Benjamin Franklin.

Franklin kept his calm as he experimented and tweaked his inventions again and again in pursuit of success. He didn’t give up during his many failures – he chose to innovate. You can choose innovation, too.

If an entrepreneur can handle failure without frustration or anger, s/he can move past it to find success.

3. Successful Entrepreneurs Pay Attention to Details

Restricting your attention to the big picture can be even more problematic than ‘sweating the small stuff.’

As an entrepreneur, unless venture capital has magically dropped out of the sky, a small expense can be a killer. It’s attention to detail that can make a small business successful when it has competition and it’s attention to detail that can keep costs down.

Attention to detail can be difficult to maintain — going over ledgers can be tedious even when you aren’t trying to pay close attention — but keeping your eye on a long-term vision is just asking for a problem to sneak in under a radar.

Advertising

After a business grows, an entrepreneur might be able to hire someone to worry about the details. In the beginning, though, only one person can take responsibility for the details.

Skeptical about the importance of details? Look no further than Howard Schultz, who grew a small coffee shop called Starbucks into one of the most globally successful coffee businesses in the world through his extreme attention to detail.

He is famous for taking all aspects of growing a business into account, paying attention not only to financially smart business decisions, but also focusing on socially responsible business decisions. Details can take you far.

4. Successful Entrepreneurs Embrace Risks

No entrepreneur has a sure thing, no matter how much money s/he stands to earn on a given product. Even if a product tests well, the market can change, the warehouse can burn down and a whole slew of other misfortune can befall a small business.

It’s absolutely risky to run a business of your own and while you can get some insurance, it’s not like most investment options. Even worse, if something does go wrong, it’s the entrepreneur’s responsibility — no matter the actual cause. In order to deal with all of that without developing an ulcer, you have to have a good tolerance for risk.

You don’t need to channel your inner frat boy and take on absolutely stupid risks, but you need to know just how much you can afford to risk — and get a good idea of how likely you are to lose it. If the numbers make you uncomfortable, the risk is too great.

Embracing risks is essential for growth and additional success, as well. Walt Disney, for example, could have stayed comfortable with his advances in the film and animation industries, but decided to expand his brand with a new dream: a theme park that soared above the competition. Without taking this risk, the incredibly successful Disney theme park empire would never have come about.

An entrepreneur has to be willing to accept pretty big risks, with some level of comfort.

5. Successful Entrepreneurs are Balanced

You can take any characteristic too far. There’s a point at which attention to detail can become obsession or calm can become unemotional response.

Advertising

As an entrepreneur, you have to be able to balance your characteristics, getting the most of them without going over the edge. But balance for an entrepreneur goes far beyond keeping your characteristics in check, though.

Just as an entrepreneur doesn’t have a boss to keep them at work when necessary, they don’t have one to send them home when they’re done. If you are working for yourself, you have to decide how to balance your work and home life — and if you have a day job to add into the equation, balance just gets more complicated.

Oprah Winfrey, one of the most successful and influential entrepreneurs out there, understands the importance of balance. Winfrey has a lot going on; she runs her own media kingdom, acts, produces films, publishes print, and more. In an interview with Fast Company,[1] she talks about her efforts to balance priorities and self care, saying that she must ask herself what is truly important in each limited day.

You may or may not have as much on your plate as Oprah, but learning how to balance whatever you have going on in life will certainly help you farther along down the road as you learn to be a great entrepreneur.

6. Successful Entrepreneurs are Passionate and Motivated

In order to develop any of the above characteristics, you must have a foundation of passion. Staying disciplined day after day during the building of your business takes unrivaled motivation.

Before you start any business, ask yourself if you can sustain true excitement about your idea during even the darkest days ahead of you. If the answer is yes, then good for you! Nurture your natural motivation by taking these action steps throughout your business journey:

  • Commit to making short and long-term goals. Check in with them often to stay on task.
  • Have a plan in place for the inevitable days when you feel discouraged. Make a list of things that will help keep you motivated and focused.
  • Share your ideas with trusted individuals who are just as excited as you are. They will help keep your enthusiasm rolling even when you are feeling down.

By being prepared for apathetic days and holding fast to your authentic passion, you can actually enjoy your journey to success.

7. Successful Entrepreneurs Adapt

Remember this one word: flexibility. Seasoned entrepreneurs know that change is not only a part of life, but also a part of the business world. Expect change and choose to adapt.

As a new entrepreneur, it will be tempting to cling to your original business plan with no exceptions, even if you notice it isn’t working. Good entrepreneurs know that it’s okay to make smart, informed changes in order to ensure efficiency.

Advertising

8. Successful Entrepreneurs are Marketing and Sales Experts

No matter what kind of business you are starting, a knowledge of marketing and sales will save you many headaches. A passion for creating a beautiful handmade lifestyle product is not enough to run a successful lifestyle brand; it is critical that you understand key business principles in addition to your natural skills or great product line.

Not sure how to start? Taking business courses is a great idea, but you can also easily brush up on sales and marketing through free online resources. Check out these 10 Sales Skills Everyone Should Master To Be Successful to begin now.

9. Successful Entrepreneurs Have Strong Money Management

Along with sales and marketing skills, money management is a very useful tool in the box of the entrepreneur. Understanding how to best manage your money can be the difference between early success and early failure in the business world.

If money management isn’t your strongest skill, prepare to hire a financial expert to help you with any tricky business that comes up. Financial guidance and knowledge is never a bad idea.

10. Successful Entrepreneurs Ask Questions and Continually Improve

Pride is a natural human quality, but it’s important to humbly conduct some constructive criticism every now and again on both yourself as a leader and your new business as a whole.

Assess how things are going and be willing to make positive changes if necessary. Here’re 15 ways to cultivate lifelong learning.

If you are always improving, then how can you ultimately fail?

The Bottom Line

Let me remind you of one important fact: the qualities of an entrepreneur listed here are not exclusively available to some people and elusive to others.

Although some people may have natural strengths and weaknesses, these qualities can be learned by anyone interested in taking up the entrepreneurial challenge. It might not be easy to change old habits, but it is absolutely possible to cultivate these characteristics in yourself.

Whether you’re a business owner or an aspiring entrepreneur, with hard work, you can train yourself to develop the qualities that truly determine the entrepreneurial spirit and future success.

Featured photo credit: Unsplash via unsplash.com

Reference

Read Next