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Do you have to have a degree to be a business owner?

I have always wanted to have a business of my one but everyone always tells me that I NEED to go to school aka collage and university but I don't want to anymore. and I don't know if I have to anymore

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Junnie’s Answer

Dear Pamela,

Ultimately, you don't have to go to college to be a business owner. The question is where are you going to learn the basics?
There are hard ways to learn and an easier way to learn. In my opinion, going to college is an easier way to learn.
What are the basics in owning a business? The line of business that you want to own? How to manage people? The basic of finance management? Accounting? The basic marketing how to sell your business and products? You can certainly buy books and attend short courses.
Then, you might as well attend college to get a proper certifications while you are learning these skills. In the worse case scenario, if you decided to take a job, you have a qualification to present.
Here is one of my favorite poem to share with you:

Knowing is the beginning of freedom.
The art of knowing is the art of
realizing freedom.
All suffering comes from ignorance:
Ignorance of what I am,
Ignorance of who I am, of what we are.
The art of knowing is the opening of the secret of life,
And a path for health, happiness and
eternal life.
~ Michio Kushi
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Chirayu’s Answer

No, you do not necessarily need a degree to become a successful business owner. While having a degree can certainly be beneficial, especially if you want to start a business in a specific industry that requires specialized knowledge, many successful entrepreneurs have started businesses without a formal education. Some of the most successful business owners have built their success through experience, hard work, and networking. For example, you can learn business skills through hands-on experience by working in the industry you want to start a business in or by working for other successful entrepreneurs. You can also take courses or attend workshops on business management, marketing, and finance to learn about essential business principles. That being said, it's important to recognize that starting and running a business can be challenging, and having a formal education can provide valuable skills and knowledge to help you succeed. A college or university degree can also provide access to networking opportunities, mentorship, and resources that can be helpful when starting a business. Ultimately, the decision of whether to pursue a degree or not depends on your individual circumstances, goals, and the industry you want to start a business in. It's important to research and evaluate the potential benefits and costs of a formal education before making a decision.
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Calvin’s Answer

I don't believe that a college degree is necessary to own your business, but there are skills that you need to have to be a successful business order. You can take some basic classes at a community college to learn basics of business and economy.
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Tom’s Answer

Although you don't need a college degree to start a business, college provides you with the basic concepts to start a successful business. Leadership is a critical factor and learning how to overcome obstacles in critical situations is a second skill that will greatly help you run your business successfully. One way to gain some of these skills would be to join the military either active duty or reserves gives you the skills needed to manage personnel, learning skills how to be accountable and responsible for equipment and personnel. Additionally, college provides a baseline for knowledge needed to run a business and provides you some very important skills. Bill Gates or Mark Zuckerberg did not graduate from college, but they did attend Harvard so they have some great training and important skills and were visionaries in technology.
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Nicole’s Answer

No you do not have to have a degree. However there is a lot that goes into owning a business my suggestion would be to take some accounting/Payroll courses . if you are going to be employing anybody, also web design . There are plenty of free websites that are super easy to use such as Weebly and google sites . I am an advocate of education so my advice will always be to educate yourself. I wish you all the luck in the future.

Nicole recommends the following next steps:

check your local agencies to see if you need a business certificate, which is most likely
market, your brand
make a website
make social media for your business
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Sarah’s Answer

Hi Pamela,

Many successful entrepreneurs/CEOs made it there without a college degree. For example:

Mark Zuckerberg- CoFounder and CEO of Facebook
Steve Jobs- Former Founder and CEO of Apple
Bill Gates- Former Founder and CEO of Microsoft

I personally grew up in a region where a college degree wasn't common. My sister was the first person in our family to earn a college degree. I do want to mention obtaining a college degree on average will increase your salary. I found this stat online,

"The average American with a bachelor's degree earns about $80,500 per year, while the average American with only a high school diploma earns about $40,000 per year. "

https://www.fool.com/the-ascent/personal-finance/articles/heres-the-average-americans-income-by-education-level/#:~:text=The%20average%20American%20with%20a,than%20those%20without%20a%20degree.

But college isn't for everyone. The best thing I ever did during undergrad was take a semester off to decide if I really wanted to pursue higher education. One good thing about college is you can always enroll!

Now regarding starting your own business, here are my tips:

- The More You Know, the Better
Research everything from taxes, product flow, operations etc. Many successful individuals share detailed videos on Youtube. This info is all available online too. Reading some business books couldn't hurt either. Learning business terminology is a must. Google & Youtube are your best friend! Learn how to read the economy/market.

- Connections, connections, connections!
I highly recommend joining LinkedIn if you haven't yet. Connections are a good source of advice, motivation and support.

- Give it your all!
There will always be ups and downs, but you'll grow and learn from them.

Good luck!
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Augusto’s Answer

I honestly don´t think you need a college degree to own a business, but I definately believe you do need experience and knowledge on the specific field of your business to be sucessful. Few recommendations:
- Identify learning opportunities like certification you can take to improve your knowledge about the business field.
- Build a network related to the business you would like to start and select one or 2 mentors that can guide you on your journey.
- Keep learning!
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Matthew’s Answer

My dad was an immigrant and had a 3rd grade education. He retired a very successful business owner.
And I never walked into a restaurant, shop, store, etc and asked if the owner had a degree.
Doesn't mean a college education is useless, just means that you really don't need a piece of paper to hang on your wall when you are trying to run your own business. It's a heck of a lot more effort, persistence, luck and your own personality than what a textbook may tell you.

Matthew recommends the following next steps:

Have a basic business understanding of profit, loss, margin, etc.
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Mbugua’s Answer

Hi there.
There are no hard and fast rules when it comes to owning and running a business. But there are a few musts:
- you MUST understand your customers and the value they will derive from the product or service you offer
- you MUST have a skill, product or service to offer in exchange for payment
- you MUST understand the economic environment you are operation in; competitors, partners, regulations, opportunities, threats etc.
- you MUST understand how to run the money side of your business, or you will end up broke, with no cash but have provided services

You don't have to go to college to learn these things. It's easier if you go to one that already has these learnings structured in classes and experiences to learn from. Or you could go to the school of hard knocks instead.
Whatever you call the place you learn from; college, business group/council, mentors you MUST learn the 4 items above. As long as you understand that then it doesn't matter if you go to college or not.
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Robert’s Answer

The richest person in our family of professionals never went to college. Four things that I think you need are:
• Love what you do. It’s got to put a smile on your face when you wake up each morning, even if there are some parts that aren’t fun.
• Work hard at it. You can’t build a business in just 8 hours a day.
• Get trained on those things that you need to succeed: online courses, local classes, talking with experts. etc.
• If there’s something you require—but don’t have the experience with—bring those people into your business, even on an as-needed basis, like accountants, skilled craftspeople, sales folks, writers.
Go for it, Pamela!
Thank you comment icon This is excellent!!!! Nicole Barsky
Thank you comment icon Thanks, Nicole. Robert Epstein
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James Constantine’s Answer

Hello Pamela,

No, you do not necessarily need a degree to be a business owner. Many successful entrepreneurs have started their businesses without formal degrees. However, having education can provide valuable knowledge and skills that may help in running a business. It ultimately depends on your individual abilities, determination, and the specific industry you plan to enter.

Don't forget to read my autobiography, "About James Constantine," "What I Do At Work," paying close attention to the foods that provide all the essential nutrients for effective performance studying.

GOD BLESS YOU RICHLY, AMEN,
James Constantine Frangos.
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