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how important is a college degree to a small business owner? do you see yourself using your degree often, or was it a set back that put you in debt?

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Kyle’s Answer

I agree with Lynda. I would add that through my studies I have worked on various projects that enabled me to look at a business from cradle to grave. Using this process to work through a business setup helped me see the ups and downs a business faces due to external factors as well as the true expense involved. If you don't have the studies and information you will have to hire and trust someone to run aspects of the business for you.
If you are unsure about the college path, look at a certificate or associates degree to give you an overview and see if you want to delve in more. You may not see the value now, but now that I went back and have now finished my MBA I highly recommend the endeavor. It has opened many doors for me but has also helped me in my personal and professional planning and choices. Weigh what works best for you, talk to others in the industry and see how they started. Ask about their college and training, see how others made it work for them.
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Lynda’s Answer

A college degree in a relevant major from an accredited university is always a great asset. And yes, it can and should be extremely beneficial to a small business owner. Here's why:
** Successfully scheduling and completing the required courses to obtain your degreee with the necessary assignemnt, exams, team projects etc demonstrate determination, committment and perserverance- all of which are needed to run a business.
**Learning to stick with it and not give up when you have a bad semestre or a bad experience, help build fortitude and character.
**Communicating with teachers, advisors, and administrators helps develop skills to be responsible for your own success.
**Working with fellow students, joining clubs and socializing with others builds interpersonal communication skills- also needed in business.
** Establishing and sticking to a budget and raising the funds to complete your degree requires, self discipline, budgetary and money management skills- crucial in starting a business

It is, however, important to really think through the college process, including how you will fund your education, what major you will select, housing options, associate level degree or bachelor, etc.
In starting your own business, you may not use the skills you learned in that odd elective course you took, however, you'll remember what it took to be successful in college and those skills relate very closely to what's needed to run a business.
Thank you for your response. I feel pressure to go to college, I am willing to take up the challenge but I'm worried about how much financial debt I would be put in to actually start a business from the ground up. again, Thank you for your response Derrick H.
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Simeon’s Answer

The main benefits of getting a degree are getting an entry level position with companies that would be more likely to hire someone with that degree. For a small business owner, a degree is an asset, but if your main goal is to acquire knowledge, you can find a lot of the knowledge you would gain in accounting and finance textbooks. A lot of the assignments and papers do not actually add value to your learning experience. Networking with fellow students is an additional benefit of a college experience, but this can also be supplemented by participating in local groups. If you do not find it effective to teach yourself and prefer a classroom environment, than college would be advisable.
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