We often hear how some of the world’s most successful people are lifelong learners. Bill Gates has said numerous times that he spends an hour every day reading. He also regularly signs up for online courses, despite being one of the world’s most famous college dropouts. Equally, prolific entrepreneurs like Warren Buffet, Charlie Munger, Oprah Winfrey, Mark Zuckerberg and lifelong politician, President Barak Obama, among others, are famously committed to daily reading and continuous learning.

So, why do the world’s smartest and busiest people dedicate one hour a day for deliberate learning, while others make excuses? The answer is simple and is best summed up in Benjamin Franklin’s words: An investment in knowledge pays the best interest.

In a globalised world where everything is so intricately connected, this advice becomes even more pertinent. In fact, 80% of CEOs believe that obtaining new skills is their biggest business challenge.

Here we list five reasons why it pays for entrepreneurs to commit to learning and personal growth.

Changing world

The foundation of any entrepreneurial dream is upward mobility. This happens through a combination of education, grit, and luck. But in an ever-changing world, no industry is immune. Expanding your understanding beyond your industry niche lets you see the wider picture and helps you plan, invest, and protect your business better.

Many people find themselves falling behind or feeling stale if they are not investing in themselves. With new technologies continually being developed, a younger generation coming in with new skills, and global crises and recessions reshaping the needs of the modern workplace, entrepreneurs need business mentoring and advice on how to keep up.

Learn from leaders

We all recognize that markets are dynamic spaces where traditional methods and business models are constantly being challenged and disrupted. Yet, some successful entrepreneurs seem immune and far more adept at handling change.

We may assume that entrepreneurs are natural born leaders, but veteran life and business coaches will tell you that there is no such thing. Every successful entrepreneur has made mistakes and learning                                                                                      from them means that you can avoid the same pitfalls.

Network

Success in any business comes through networking, and when you commit to educating yourself, you join the company of like-minded people. These connections offer not just mentoring advice but can work as business leads in the future.

Attending conferences, taking classes, joining webinars, or simply meeting over coffee to discuss ideas can offer different perspectives and views. The parameters of these meetings offer educational learning environments where you can pick up invaluable advice and develop leads and contacts for future business opportunities.

Draw inspiration from different people 

As Bill Gates said, ‘Learn to recognise and appreciate people’s different talents’. Understanding the value of different kinds of intelligence and using that knowledge to inspire and motivate yourself is one of the fundamental differences between successful people and everyone else.

Routine can become monotonous, whilst the familiar steadily becomes easy. Pushing yourself gets you out of a comfort zone and offers a chance to challenge yourself with new experiences and information.

Grow through critical feedback

Trying something new forces us into unfamiliar territory, and sometimes we may not like where it takes us. Draw courage from the fact that criticism and feedback – whether through a book, or a person – gives pause for reflection that can springboard you to the next stage of your growth. The best business mentors in the world will tell you that a change in perspective helps them see things in a new light.

Knowledge is the new money

Paul Tudor Jones, self-made billionaire entrepreneur, investor, and philanthropist, advises that intellectual capital will always trump financial capital. In a rapidly changing world, it pays to invest in yourself.

Whether you are an individual or a corporate enterprise, you can benefit from business mentoring, financial advice, and risk management consulting.

Join JBM as we launch the #Futureproofyourbusiness series. A three-part, participant-led webinar series that focuses on entrepreneurial development and business advice for the UAE covering subjects like Sales, Business Models and Marketing, scheduled for June 9, June 18 and June 30 For registration and more details, please visit – www.jupiterbusinessmentors.com