I've been involved in network marketing for 3 years, and sales and marketing for a few months. I've only just recently discovered how bad I want to be an entrepreneur. I want to stop working for someone else's dream and start working for my own and have no idea where to start. Should I go back to school for formal business training or should I jump off the cliff and learn to fly on the way down?
I am an entrepreneur without a single degree or certification to my name. I'm certainly not anti-education (in fact, I've taught some university classes), but higher education wasn't the path I chose.
My question for you is: what type of learner are you? I learn best when I'm self-directed, studying things that fascinate me, and able to either apply or teach what I'm learning (in fact, I think teaching is one of the best ways to learn). So, I've taken ownership of my "education", and I am constantly learning. I read books and articles, listen to podcasts and other audio programs, attend conferences and events, and seek mentors and peer-learning environments.
It has worked well for me, but not everyone is built that way. Some people learn better when the education is structured for them, or when they have schedules, deadlines, and feedback (i.e. grades) on their learning.
Even for structured learning, college / university is not the only option. There are incubator / accelerator programs, entrepreneur boot camps, mentoring groups such as SCORE - some of it depends on where you are located, or whether you're willing to travel.
The bottom line is that education is not optional (especially for an entrepreneur), but there are several ways to get an education. You need to figure out what kind of learner you are to determine what path (or combination of paths) you should take.