Businesses [10 points]?!?

Question

I'm going to be a criminal justice lawyer in the future. Since there are so many of them I doubt I'll be able to have a good income. So I thought after being I lawyer I should go buy/own some businesses (like small stores, warehouses, etc). Is it possible for me to own and manage a business without doing business courses in college? I've seen so many Middle-Easterners in Michigan whose parents never went to college and they make a lot of money through their stores and wholesales.

Answer 1

Absolutely, you definitely don't need a business degree, per se, to start up your own small business. You can, in fact, start small and actually turn your small business into a large empire with many outlets/locations. It takes a lot of real life know how and common sense to be proficient with your own business. Having two degrees (an undergraduate and a law degree) should provide you with enough knowledge to be able to manage and execute your business efficiently and successfully. Here are some stats to help you understand what your peers think about this topic

Stats on Young Entrepreneurs

Gallup studies show that high school students:

    *Take entrepreneurial business courses (27 percent)

    *Take economics courses (35 percent)

    *Want to start their own business (7 in 10 overall, 6 in     10 female, 7 in 10 Hispanics, 8 in 10 African-American)

Somethings that you should think about while you are planning for your own business would be to have a solid, airtight business plan (this will be the best way to get investors, if you plan not to fund your venture yourself.) You should also consider e-commerce, with technology being an integral part of our lives, why not be a part of the booming online business? Finally, start thinking about innovative ways to market your business. Unlike many of the immigrants and foreigners that have been successful in the small business field you will have the upper hand because you will be young and educated and by planning now, you will have a huge head start. Use your resources to take your small business to the next level. Finally, if criminal justice is your passion, you can still be a full time lawyer and manage your small business (or businesses). As a matter of fact, if you really have a strong business plan and good management, there is no reason why you can't start your own business while you are still in school.

Here is a link to a free online course that will help you get a head start on owning your business. Take this course and see if, in fact, having your business is right for you. http://www.myownbusiness.org/

Finally, check out this website about young entrepreneurs to help you get inspired http://www.score.org/young.html

Good luck!