Technically speaking do you really need a business degree to be a succesful business owner?

Question

Technically speaking do you really need a business degree to be a succesful business owner?

Answer 1

I like the answer Mentor gave....lol!  In agreeing with him that no, you don't have to have a business degree, I think the amount of experience you have as well as the training and ongoing support makes all the difference.

He refers to working smarter, not harder and if you've found the right kind kind of business that uses leverage and residual income....you can become extremely successful!

Other than that, your thought posture is extremely important as well.

As an International Business Trainer (in my profile if you'd like to know more) I always encourage people who want to get into business for themselves to pick something that has all of this and more.....you can't fail unless you choose to by doing nothing and expecting nothing.

Answer 2

no, but you must learn some good business basics. many small companies fail despite being great at wht they do and lots of hard work but inability to run a business-asset management, sales and marketing, finance, taxes, technlogy, etc.

if a small business owner makes )or allows an employee) to make bad decisions in these areas he can fail

Answer 3

Society has lead people into believing in order to be a successful business owner, you have to obtain a degree in business.  This is not the case.  It's a good idea if your going to go into business the traditional way to learn about the industry itself.  Most of the schooling you learn in business is basic things, things you can just as easily learn without getting a degree.  Most of the things you learn in school, you don't even use in business.  It's best to get involved in an industry that have training programs where you can learn exactly how that particular business needs to run and operate instead of doing just general.  May non traditional businesses, such as having a business within a business have tons of training programs to teach you how to work your business within that industry.  In which the cost for these programs is nothing near the amount of college.  Usually just a couple hundred a year.

Answer 4

The answers on here never cease to amaze me. It's funny that none of the answers have referred to their experience, I wonder how they came up with their info, most likely in school or by rumor. You do not need a business degree or do I recommend you waste your time getting one, the process will only delay your time to success. I have three degrees and not one of them have helped me in anyway except to know I did not want to be a teacher in college. I have started and operated my own companies for 35 years and became a millionaire at the age of 28. Weather or not anyone believes me is irrelevant and if you ever get a chance to read about the real successful entrepreneurs of all time NONE have attended college and some did not even finish high school.

I was able to retire at a early age and now devote my time to helping as many serious people I can achieve the same success by avoiding the mistakes I made along the way. I am always available to answer your questions and help in anyway I can.

One last thing to keep in mind, to become successful in business today you must work smart not hard. How many hard working people do you know that are successful and financially secure, look at all the labor intense jobs out there that the employees are working there butt off but still are living paycheck to paycheck.

95% percent of the wealth in our country is controlled by 5% of the people, why? Because we have all been affected by the cancer that has spread across our nation called a job!

Answer 5

History shows us that you do not, but it definitely increases your chances to make real money.

Liken it to writing; how can you write the Great American Novel if you don't know what's already been tried?  I think you would find yourself constantly making mistakes that have already been made if you don't have a thorough education behind you.  You would constantly be "reinventing the wheel" and would have a lot of trial and error that could be avoided.

Answer 6

No, but most facilities won't let you operate without a business degree, and most financial institutions won't give you a loan without a business degree. Think about it, if you run a small business, say a stationary shop, and you want a shop to sell stationary in and a business loan to cover startup costs, you're going to have a hard time pulling this altogether. Facilities for rent will not want to rent to you because you don't have a degree, so they are leery of what sort of profits you will return. Also, when you apply for a business loan, they look at your credentials, as well as your business plan. Without a business degree, your credentials will probably be passed over, and you won't be informed enough to put together the best business plan possible. Financers will look at you as a financial business risk, and they won't give you a loan. Technically speaking, though, no you do not need a business degree to own a business, although you may need other degrees or other certifications depending on what type of business it is (such as a bar or a restaurant). But education always helps!

Answer 7

It really depends on the individual.  Some of the most successful entrepreneurs just jumped in feet first.  You're taking on some amount of risk by running a business at all, and if you're not versed in every aspect you're more likely to come upon an obstacle that you don't know how to handle.

The best trait that will help you in your goals is the ability to teach yourself.  Make sure you do extensive research in your area, and try to get in touch with people who have done something similar through a business improvement group (most larger communities have them).  The best resource is a network of people who are willing to help.

The only tangible obstacle that a business degree completely removes is credibility.  You don't have to sell yourself much at all if you have a piece of paper proving you know what you're doing.

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