Should a young Entrepreneur get a degree??

Question

I am really strugglin here. I dont know if i should get a degree. I want to start my own business..probably web-based. I dont feel i need to get a degree because i dont plan on being employed by anyone but myself. I dont mind taking classes at a community college..I just think the degree thing is a wast of time for me...Is there anybody out there like me????

Please no comments from close-minded ppl that believe the only way to achieve success is through degrees

Thanks

Answer 1

Knowledge is power. The things you will learn in your field of interest and the connections you will make in doing so will be invaluable. Do not let your ego and pre-conceived notions get in the way. You may get exposed to things that will take your entrepreneur ideas to the next level. Your "Bill Gates" ideas may attract a "Paul Allen" class mate.

Answer 2

In my opinion, i don't think its a waste of time 1) because you can actually learn that much more from business courses in college, especially on subjects relating to the laws and regulations of being an entrepreneur, 2) having a degree will make it look that much better and may give you an upper hand when trying to apply for a business loan and grants, and last but not least 3) its always good to have a good plan to fall back on in case it doesn't work out the first time and you may have to work for some one else for a while until you can get your business off the ground again, its a very good idea to have a degree in this day and age.

Answer 3

You might feel that a degree is necessary now, but what if your start up doesn’t pan out and you end up going to work for someone else? Degrees aren’t exactly optional if you want to get into any kind of business or technology field. It’s always better to have a back-up plan.

Answer 4

I have a double major degree, but a friend of mine got a degree in entreprenuership (so that can be done). I also took a class in it....it is helpful so you know how to gather materials for your presentation for a bank loan, etc. I also have a friend trying to start a business w/o any college and it is really hard for her b/c she is struggling with other basics (finance, etc) that are covered in the college of business at any given school.

Answer 5

Take classes to reinforce your weaknesses.
So-so at record keeping? Take accounting classes. Even if you plan to hire someone in-house or someone on the outside to do your bookkeeping and record keeping, you need to COMPLETELY understand the process. Embezzlement is one of the most likely causes for a business folding and if you don't have good checks and balances built into your system, you will never know what happened to you. Too, you need to be able to do this part of the work yourself in the beginning and be able to step in during a pinch as the business grows.
You also need to know how to price your merchandise or services fairly and at a level to pay you, service your business debt AND show a profit. New businesses are often underfunded and first time business owners tend to under-price what they are selling. Things can spiral down quickly and without some monies in reserve, there is little opportunity to re-cover.
You the quiet type? Take classes in marketing and public relations. You need to be able to toot your own horn and get the attention of potential buyers.
Also take a class or two in psychology. You will learn what motivates people and how to move them to make a decision--like buying your goods or services.
You don't have to have a degree to succeed, but you do need knowledge. College is one way to get knowledge quickly and less expensively than the school of hard knocks. (When I think of all the expensive mistakes I have made from ignorance...., let's just say learning in a class room is not a bad thing.)
If money and time are the issues with school, consider enrolling in a mentoring program. Many city development departments have a program of retired business people who volunteer to mentor people starting businesses. It's usually no charge or a small fee, and you have access to their experience.
Join a networking group, these are the sorts of small business types who meet monthly for breakfast or lunch. This will give you the opportunity to ask peers for suggestions when you run into a problem. (These are usually limited to one member per type of business per group--one realtor, one banker, one printing business and so on. While people won't be in your business, they will have similar experiences and can offer you insights.)
Talk to a college that does have a business department and see if their students can help you with problems as part of their case studies. (Answers come slowly, but they tend to be well researched and vested by the professor.) Say for example, you want to develop a new product group that is an off-shoot of an existing product, but you aren't sure there is a market for it. The students could do your market research for you and come up with suggestions for a name, price ranges, and comparable products from competitors. (You may be charged a fee, but again it will be cheap compared to doing the work yourself while still trying to run the day to day stuff.)
Bite the bullet and talk to a lawyer and an accountant to help you get set up legally and so that you have a proper money system. And at the very least, plan on talking to them on a yearly basis, so you can keep up with changes in rules and regs that affect your business. (Work these costs into your annual budget.)
Think about where you want to be in 5 years or 10 years with your business. Do you want to keep it small and run it only by yourself? Do you want to grow it and have employees and get big? If it does take off, are you prepared to step up to the next level or would you consider selling the business to someone who buys and runs with start ups--freeing you to start something new?
The whole point it that it is a constant learning process, either on your own or in a class room. The more open you are to the process, the more likely you are to change, develop, and succeed.

Answer 6

If you're ever going to need to secure funding from a bank, having a degree will do a lot toward giving yourself credibility. Also, don't think of it as just getting a degree... you know, you might actually learn something! Thinking that you already know it all could easily be your first step toward failure.

Answer 7

start your business now without a degree. if it doesn't work you can always go to school later. most people don't have the skills to make their own business without some education but maybe you do. get busy.

Answer 8

I happen to agree with you. A "degree" is completely irrelevent to success...however...self education is a must for prosperity.

Answer 9

it would seem like you could just take classes about topics you think you need to learn about. i dont see how the actual degree itself is going to help you all that much

Answer 10

of course you need a buisness degree to survive