Formal education and firsthand experience are both valuable. The question is: what’s most valuable to you and those you want to do business with down the road? People will answer this differently based on their vocation and career goals. For me, as an MBA and entrepreneur, the latter was much more helpful in sparking success.

Sure, an employer program can help with education costs, but only slightly. Plus, the chances of getting a promotion or salary increase simply because you graduated a master’s program is near zero. That takes work and demonstrated real-world performance, something you are already getting if in the right company.

On the flip side, starting a business when you don’t have the basic vocabulary to do so can prove to be far more expensive. Your best bet is to work for a while in the industry you want to help shape, gather experience via real-world projects, and then start something when you know the game. You’ll save money and sanity. You can always take that on-line finance course for free if you need it.

Need a career coach? Contact me via www.PlotlineLeadership.com.

Be sure to check out my latest book The Introvert’s Guide to Job Hunting and follow me on Twitter at @timtoterhi