Do you want to become an entrepreneur? Wondering whether you need a college degree to become a successful entrepreneur? Well, I have known and observed several renowned entrepreneurs for several years now and one of the hottest topics in the entrepreneurship world is whether or not you need a business degree to start and run your business. Or can you simply learn the tricks of the trade through experience and “street smarts”? Let’s find out….
Do entrepreneurs need a college degree?
Nowadays, the debate regarding whether to pursue a university degree or not has reached a whole new level. One of the key reasons why most aspiring entrepreneurs are having second thoughts about college education is the high costs of earning a degree which is burdening most Millennials with heavy student debts. This significantly affects their chances of starting their own business.
If you ask me, an ideal time to start your own business is during your 20s and early 30s. As a young entrepreneur, you will not be required to worry about taking the responsibility of your family, spouse or a home mortgage for that matter. Moreover, earlier aspiring entrepreneurs could afford to pay off their student loans or any other debt related to a college education by the time they were in their late 20s or early 30s. However, this is clearly not the case today.
Now most college students end up graduating with a crippling debt which they need to pay till their retirement, and in several cases with limited employment prospects which can help them to pay off the debt. In the past, it was possible for college graduates to work a full-time job and save most of their salary for a start-up venture by living in their parents’ basement. But now no matter how much you restrict your expenses, you will end up spending a major chunk of your earning in repaying your college debt.
This is even more unfortunate now as you can easily find numerous undergraduate and graduate entrepreneurship and business programmes out there, which actually help to increase the value of higher education for young aspiring entrepreneurs.
So can a business degree help you to become an entrepreneur and start your business?
Yes, it can. However, it also depends on what type of business you wish to start. If you want to work in the professional services field or any other field related to the corporate world, then a business degree can help you to a great extent. It will help you develop necessary business skills and knowledge so that you can lead your team and your organisation towards success.
What other academic options are available for you?
Let’s face it…pursuing a full-time 4-year degree from a university or a business school will land in heavy student debt. You need to study a programme that will provide you quality education in an affordable way so that you can avoid saddling student loans. If you ask me, one of the best educational options for you is the study for a university degree online.
You can easily find numerous accredited online business programmes which are much more affordable than costly traditional college programmes. What about the quality of education? Most of the recognised business programmes offered by any international business school provide a top-notch education for their online learners. The courses are developed by reputed educators and in-house faculty and follow the same curriculum as the on-campus programmes. So you can be rest assured that you will get a world-class learning experience right at your home.
Apart from being affordable, online business programmes offer you high levels of flexibility and convenience so that you can study and work on your start up at the same time. As there are no fixed classes, you can choose to study at any time you want that allows you to effectively balance your work, studies and family responsibilities. One of the greatest advantages of studying online for aspiring entrepreneurs is that you will have the opportunity to apply your business knowledge immediately at the workplace as you can work and study simultaneously.
Lead the way
The fact is starting and running a new business in the increasing challenging economy can prove to be a daunting task, especially if you do not have the right skills and knowledge. Studying business online can equip you with the necessary business skills so that you can develop your entrepreneurial skills, face every challenge and steer your business towards success.