Some people tend to wonder, since entrepreneurs are often their own boss, do they really need an education? The question is a good one, and its answer depends on a variety of factors. What type of business or product the person decides to focus upon, the extent of their background knowledge within their specialized area, and their level of commitment to their success in the field can all play a role in determining whether or not an education is necessary. While it is usually impossible to know for sure whether one is going to succeed at their entrepreneurial efforts, an education can often assist in furthering the chances of making it in their pursuits.
A Precursor to Success
Many skills that can be gained from an education might take a lot of time and effort to acquire once you are on your own and well into your entrepreneurial endeavors. Interpersonal skills, project and time management, organizational skills, a basic understanding of how businesses run, effective organizational structure, and knowledge of human resource and tax laws can all be furthered by a good education. Be it an online business degree, a psychology degree online or even a liberal arts degree, getting an education can also be a great way to prepare yourself for many of the challenges you will encounter in the entrepreneurial and small business environment.
Contacts and Networking
College isn’t just about schoolbooks and class time. There is a personal side to a college education that you might not get during high school or while out in the workforce. Group projects, reliance upon team members, and various group related activities and work can help you prepare for working effectively with others and learning how to motivate, train, and work with people, as well as how to compromise or utilize negotiating techniques.
With an education, you might also find it is easier to find investors for your business or product ideas, as they will have more confidence in your skills and abilities effectively to run your operation. While an education does not necessarily mean you are going to be a successful entrepreneur, others may recognize it as an important building block to making your ideas come to life. They may also view your ability and persistence in attaining a college education as a preferable quality in a business partner or person with whom they might want to invest or do business with.
A Backup Plan
Starting a business can be a difficult process, often requiring large contributions in time and energy as well as financial resources. You may find you need to supplement your finances by bringing in outside income through a regular or part-time job. New businesses often take years to begin making a profit, and you might need extra income to maintain your business while it struggles and grows throughout its initial stages. With an education, you may discover that it is easier to find a job or jobs to help you keep your business running during this critical stage in its existence.
By having an education, you can also hedge your bets if your entrepreneurial efforts are not successful. If you should determine that being a business owner is not for you after all, or your ideas just didn’t come to fruition as you had expected, having a degree can help you move on to another field of interest or career.
The Online Degree Option
If your hands are itching to just get started with the business venture you have in mind you can always go the online degree route. Today a lot of traditional colleges like UMass, UConn, Cornell and more are offering accredited online degree programs. By opting to study in this manner you can start and manage your business and at the same time get a college degree. Online degrees are extremely flexible in nature and that is one reason why many people chose them. You can get an an online degree in various subjects ranging from accounting to computer science to marketing to healthcare and even law. Get started by taking a look at our comprehensive listing of such programs in our online degrees channel.