You’ve always wanted to start a business, but there’s one thing holding you back—you don’t have a business degree. You’ve heard that running a business is tough and requires lots of specialized knowledge. Can you really start a business with no experience or education?
Twenty percent of businesses fail in their first year, so it’s important to learn the skills you need to run a company successfully. But you don’t have to go back to school to learn core business principles like accounting and marketing. There are other ways to educate yourself and make sure you have the tools you need to grow your company.
If you’re wondering whether or not you need a business degree to start a business, we’ll answer your question in more detail below.
Do You Need a Business Degree To Start a Business?
Doctors, lawyers, and teachers all need specialized degrees to do their jobs. But do you need a business degree to start a business and become an entrepreneur?
Believe it or not, many successful business owners don’t have degrees. According to a recent survey by CNBC, less than half of all small business owners have a college degree. And tech giants like Bill Gates, Steve Jobs, Mark Zuckerberg, and Jack Dorsey never graduated from college, but that didn’t hold them back.
A business degree can teach you important skills you need to be successful as an entrepreneur, such as marketing, logistics, and financial management. But going back to college and taking out thousands of dollars in student loans isn’t the only way to gain entrepreneurial knowledge.
You Can Learn the Skills You Need Through Self-Study
Thanks to the internet, you can learn about business administration and management through self-study. Websites like Forbes and Business Insider publish great articles about business and entrepreneurship that can help you figure out how to run a company. You can also buy business-related books or take courses on Udemy or Teachable to learn core business principles.
Some universities even offer business administration certificates that are much cheaper than their bachelor’s and master’s degrees. This enables you to get your feet wet in the world of business without getting into student loan debt.
Don’t Miss Out on Networking Opportunities
However, by choosing self-study over a business degree, you may miss out on important networking opportunities. While getting your MBA, you could meet your future business partners, mentors, or investors. Connections are crucial to your success as a business owner, whether you need advice about a problem you’re facing or funding to grow your company.
So if you decide not to get a business degree, make sure you find other ways to mingle with fellow business owners. See if there’s a meetup group for entrepreneurs in your area or a local chamber of commerce you could join. You can also expand your network online on platforms like LinkedIn and Facebook.
Are you planning to get a business degree to learn the entrepreneurial skills you need, or are you going to self-study? Let me know in the comments section below!
Vicky Monroe is a freelance personal finance and lifestyle writer. When she’s not busy writing about her favorite money saving hacks or tinkering with her budget spreadsheets, she likes to travel, garden, and cook healthy vegetarian meals.