You probably read this title and immediately answered ‘yes’ or ‘no,’ and that’s to be expected. This is a polarized and often debated question for young entrepreneurs deciding how to begin their business journey. Let’s take a look at both sides and see which one you think is the correct answer.
Yes, You Should Have a Degree.
This answer would probably make the most sense to people today who think you can’t do anything professional without a degree, so let’s break down how having a degree would be essential to a successful business endeavor.
Pursuing a business degree means you will study and practice management, research methods, business models, and administrative theories before starting your business, and the learning curve does not take as much of a toll. While it is possible to start a business without a degree, it isn’t advisable. Earning a degree and studying with like-minded individuals will also provide you with invaluable connections before you’ve even formed your company.
Gaining knowledge about the business world before you officially enter it is about learning how to strategically approach a situation and not suffer any real-world setbacks if you bet on the wrong horse. Consider your long-term business goals and the success rate of new businesses, and see if the issues you would face could be solved by approaching them in an academic environment first.
No, You Don’t Need a Degree.
A degree is not mandatory for starting a business; it might help but whether you should pursue one depends on your unique situation. Let’s look at what your path might look like if you choose not to go down the college route.
According to an article on FreeMean, “Many businesses are run by successful entrepreneurs in the business world who never achieved a degree.” Several famous entrepreneurs such as Steve Jobs, Rachel Ray, and Bill Gates began their business empires without a proper business degree.
It is possible to teach yourself about the business world as you explore it in real-time and gain immeasurable hands-on experience in your efforts. A degree won’t give an individual all knowledge they will need to be successful; some have to be acquired through real-world experience. Also, having a degree in business won’t guarantee your business’s success.
Entrepreneurs who have achieved success without a degree started a business with an innovative idea and brought it to life through dedication and tireless commitment. They faced obstacles as they navigated through the entrepreneurial world, but they proved that not only is it possible, it can be highly profitable.
There are pros and cons to both sides of the argument, ultimately getting a business degree comes down to an individual’s value of that time and money being spent in a classroom or an office space.