While college can be a valuable stepping stone toward entrepreneurship, it's worth noting that not all successful entrepreneurs have a college degree. Entrepreneurship is a journey that requires a combination of factors, including passion, determination, creativity, adaptability, and a willingness to learn. Ultimately, the decision to go to college or start a business right away depends on your individual circumstances, goals,
Scott recommends the following next steps:
1 - if you have money saved up (either yours or your parents) for college and can go and graduate with little to no debt - DO IT! the pros that Scott mentions above are 100% true and it will give you a huge leg up, regardless of what you want to do
2 - if you need to take out a loan to go to college, do everything you can to get grants and scholarships. Take a year or 2 and work hard and save up money (live with your folks or with friends). Do everything you can to NOT have a huge debt payment
3 - go to community college for the first 2 years and knock out all your basic classes. Get A's and see what it is you're interested in and want to pursue. Then, for the last 2 years - with good grades under your belt....apply again for grants and scholarships
4 - study something that will really serve you. Many colleges have Entrepreneur tracks - that's a great one. Finance is AWLAYS a great thing to understand if you want to work for yourself, or HR - something that will help you gain skills that you'll need to be successful running your own business.
I think college is important and can give you a big head start....but I hate the idea of a young person starting out in life with a huge amount of debt and a large monthly bill to pay immediately upon graduation. That is a big burden and I would advise doing everything possible to ensure that doesn't happen to you.
James Constantine Frangos
James Constantine’s Answer
The significance of college education, particularly for budding entrepreneurs, can't be overstated. Although some business moguls have made it big without a degree, the advantages of college education in terms of personal development, skill enhancement, networking, and resource accessibility are vast.
1. Acquiring Knowledge and Skills: College offers a structured setting for learning and honing vital skills needed for a successful business. Courses and programs allow you to become proficient in areas like finance, marketing, management, accounting, and entrepreneurship. These skills are key in tackling the intricacies of starting and managing a business.
2. Building Connections: College is a goldmine for networking opportunities, crucial for establishing relationships within your field. Engaging with professors, classmates, alumni, and guest speakers can lead to potential partnerships, mentorships, or investors for your business. Colleges often hold career fairs and events where you can connect with professionals from various fields who might be interested in your business.
3. Utilizing Resources: Colleges offer a plethora of resources beneficial for aspiring entrepreneurs. These include libraries with abundant research materials, business incubators or accelerators for mentorship, funding opportunities like grants or scholarships, and industry-specific tools and software. Many colleges have dedicated entrepreneurship centers that provide specialized support for students keen on starting their own businesses.
4. Personal Growth: College isn't solely about gaining knowledge; it's also a platform for personal development. It helps enhance critical thinking, problem-solving, communication, teamwork, leadership, and time management skills - all vital for running a successful business. Exposure to diverse perspectives and experiences in college can broaden your worldview and spur creativity and innovation.
5. Gaining Credibility: A college degree can lend credibility and validation, impressing potential investors, clients, and partners. While a degree doesn't guarantee success, it demonstrates your dedication, discipline, and ability to achieve long-term goals. This can be especially important when seeking funding or partnerships for your business.
6. Job Opportunities: While your ultimate goal might be starting your own business, a college degree can also pave the way for job opportunities in your field. Work experience and industry knowledge can provide valuable insights for your future business. Moreover, having a backup plan if your business venture doesn't take off immediately can ensure financial stability while you chase your business dreams.
To sum up, even though it's possible to thrive as an entrepreneur without a college degree, college education offers numerous benefits for those aspiring to start a business. It equips you with knowledge, skills, networking opportunities, resources, personal growth, credibility, and job opportunities. The choice to attend college should be made based on your personal circumstances and goals.
Top 3 Authoritative Reference Publications or Domain Names:
Harvard Business Review - hbr.org
Forbes - forbes.com
Entrepreneur - entrepreneur.com