4 answers
jordan
Student
Edison, New Jersey
1
Question
Asked
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how can I start my own company without going to college for businesses administration?
How can I start my own company without going to college for businesses administration?
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4 answers
Fred Rosenberger
Data Analyst
389
Answers
St. Louis, MO
Updated
Fred’s Answer
Lots of people start their own business without going to college. Getting a degree isn't a magic pass that lets you do something - it's just giving you information, teaching you skills, and helping you learn some discipline.
If you want to start a business, you just do it. Nothing is stopping you from saying "I now own a business that does X".
Now, going to school will help you understand what it means to own a business. Do you want a sole proprietorship, or would an LLC be better? Do you have a business plan, or do you know how to write one? Do you know how to compute your costs, what your markup should be, and how to manage your inventory? What are the tax requirements in your local area/state? How will you market your business? What is your advantage over other businesses that provide a similar product/service?
School will help you start a successful business, but isn't a guarantee of doing so. Nor is it a requirement.
If you want to start a business, you just do it. Nothing is stopping you from saying "I now own a business that does X".
Now, going to school will help you understand what it means to own a business. Do you want a sole proprietorship, or would an LLC be better? Do you have a business plan, or do you know how to write one? Do you know how to compute your costs, what your markup should be, and how to manage your inventory? What are the tax requirements in your local area/state? How will you market your business? What is your advantage over other businesses that provide a similar product/service?
School will help you start a successful business, but isn't a guarantee of doing so. Nor is it a requirement.
You rock! This advice is very helpful.
jordan
Going to agree with what Fred said, and also encourage doing what you are doing now- asking for advice from different sources and reading whatever seems relevant to what you want to do. For example, https://www.usa.gov/start-business might be a good place to start and see what might be required.
Jason Pang
Bob Burton
Consultant
65
Answers
Austin, Texas
Updated
Bob’s Answer
Having invested, as a venture capitalist, in many global entrepreneurial high technology and service businesses I discovered that many successful young men and women entrepreneurs did not have a college degree.
Having grown up in a family that succeeded in starting, developing and growing a business, where all members young and older of the family had a role, was key to their success.
These young folks understood the business model, keys to economic success, leadership, business development, customer satisfaction, service suport, marketing, supply roles, etcetera.
They began their new entrepreneurial business with a basic understanding of their mission, objectives, business planning, customer needs and what would make them successful.
I believe Tracie offers great advice. Should you not have a family business background, it is paramount to inject yourself into a business you have an interest in.
Speak with entrepreneurs in industries you have an interest in.
Volunteer to help companies in this industries. Listen and Learn.
Having grown up in a family that succeeded in starting, developing and growing a business, where all members young and older of the family had a role, was key to their success.
These young folks understood the business model, keys to economic success, leadership, business development, customer satisfaction, service suport, marketing, supply roles, etcetera.
They began their new entrepreneurial business with a basic understanding of their mission, objectives, business planning, customer needs and what would make them successful.
I believe Tracie offers great advice. Should you not have a family business background, it is paramount to inject yourself into a business you have an interest in.
Bob recommends the following next steps:
Tracie Giles
Recruiting
16
Answers
Atlanta, Georgia
Updated
Tracie’s Answer
I agree with Fred and Jason's response. I would also add that you should seek guidance from other business owners to learn. You could do this by getting a job in a business you are interested in or speaking to the owner and volunteering your time in exchange for mentorship. Many local non-profits help by advising entrepreneurs. Good Luck!
Michael Richards
Customer Success Manager
4
Answers
Odenton, Maryland
Updated
Michael’s Answer
Creating and Starting a business is fairly straight forward. Settling on a business name and identifying what product (or) service your business will provide is your starting point. Next step would be to incorporate yourself (either as a Corp, Sub S, LLC, etc..) with the State you live in. Maintaining a license to do business from year to year is fairly inexpensive. Now for the more difficult part... finding a product/service that your passionate about and will be successful. I would recommend finding other business owners and pick their brains to learn about things they did that brought them success in their business.