Do you dream of becoming an entrepreneur? Are planning to start a business? Can a college degree help in your start-up? Or should you skip college and start your business right away? Let’s find out....
Is College Worth It?
Several college graduates are now becoming entrepreneurs and most of them are wondering whether college was worth it. Although there are some graduates who believe the skills and knowledge they gained from college make them better entrepreneurs, there are many others who think college was a waste of time and money and they should have dropped out and started their business sooner.
Should You Skip College?
According to a 2013 study by Hiscox, a small business insurer, almost 50 per cent of small business owners in US claim that the national education system fails to identify and inspire individual dreams and ideas, 2 crucial elements in entrepreneurship. Moreover skipping college for starting a business becomes more appealing when you consider that entrepreneurs like Steve Jobs and Bill Gates did not earn any formal college degree.
However for every successful entrepreneur without a formal education, there is one college dropout who wishes he completed college before starting business. The fact is there are several factors that you must consider before you take such an important step.
Don’t Miss Out On Opportunities
However, when you have a great idea, then it simply does not make sense to spend 4 years in college and miss out on excellent opportunities. So if you wish to start your business as soon as possible and yet earn a higher education qualification, then the best option for you is going online. Online programmes are designed in such a way that enables you to work full time and yet acquire essential skills without investing excessive time and money.
Pursuing an online diploma in business can help you to gain necessary business skills and knowledge that will enable you to lead your start-up towards success. Moreover as you will be able to work while you study, you can gain relevant and real-world work experience to have a better understanding of the business and the sector you are in.
Get Some Real-World Experience
Skyler Slade, co-founder of automated customer research app Coefficient, believes work experience is crucial to being a better entrepreneur. Initially he worked with Grooveshark, a music-streaming website, to gather experience and knowledge about how to run a business. He says, “Working at someone else's startup for five years prepared me to start my own company more than any college degree could have. It's one thing to take classes on entrepreneurship, and to read about management, but it's another thing entirely to actually be in the thick of it, to be thrown in headfirst and have to sink or swim.”
Slade believes that you need to gain some experience with a startup or an established company before thinking about skipping college and starting your own business. However, it is also important for you to have a college degree if you wish to get a job.
Can College Degree Guarantee A Job?
A new study by Burning Glass Technologies, a labour analytics firm, reveals that most employers worldwide are now treating a college degree as basic eligibility criteria for their screening process to hire better employees. Matt Sigelman, CEO of Burning Glass Technologies, said “For an individual employer, that may be an understandable step. When everybody does it, however, this becomes a trend that could shut millions of Americans out of middle-skill, middle-class jobs.”
The trend has been rather significant in fields where college degree was not traditionally required for employment. In fact, many organisations are looking for the right candidates with a bachelor’s degree even if that makes the recruitment process more challenging and difficult. According to the authors of the research, employers are depending on college degree as a recruitment filter which may or may not be related to the specific skills required for the role.
So What Should You Do?
In this scenario, earning a bachelor’s degree becomes more important for you even if you wish to become an entrepreneur. Pursuing an online diploma in business will not only help you to earn a recognised qualification, but it will provide you ample scope to do a full time job at a start-up or an established organisation in your chosen field. Once you have acquired adequate experience and feel you are ready to head out on your own, you can rely on your business education to establish your own business.
The truth is skipping college might be a good idea for you if you wish to be an entrepreneur, but skipping higher education altogether can cost you dearly. I would suggest that you enrol for an online higher education programme and earn some relevant experience simultaneously. This will provide you a firm platform for your future start-up.
What Do You Think?
Would you opt for college or do you think starting your business now is a better idea? Let us know your views, concerns and opinions. We would love to hear from you.