Is it necessary to have a business degree to be a business owner?

Business-sense, in a wide “sense,” is one of the most sought after competencies in the world. But what does this broad term actually mean? Does one need years of business training? Does one need to work on Wall Street? Does one need an MBA? The answer is no. 

Most universities and colleges offering MBA degrees are trying to catch up with the entrepreneurial mind. As a result, their MBA programs are evolving to incorporate more start-up courses. In response to this students are saving money in earning the MBA degree and taking only the courses they need to start their own businesses, and getting help with their theses or dissertations from professional writing services from a place like Dissertation Expert and then buying an online degree afterward. 

  • But what does this all mean?

According to a 2013 study that turns heads today, most self-made millionaires don’t know much about the business practices that are taught in school. Basically, today’s companies (profit and non-profit) require skills that can be acquired through practical experiences and not developed through a traditional MBA program. While getting a degree is still a respectable accolade it is quickly becoming something that many job seekers are bypassing in order to develop the skills employers are actually looking for. 

Things like optimism, work ethic, selling abilities, relationship-building, all of these are things that can’t always be learned at school. The only way to learn these things is through practical work experience. Other qualities that come from first-hand experiences are discovery and execution. These two qualities can be developed when someone starts a business as well as gain a few years of experience at a job where he or she plays a pivotal role growing in that position.

  • What does a Person Have to Do?

A number of high schools, colleges, and universities offer technical courses dedicated to various industries. Students who take these kinds of courses learn a lot of the foundational concepts that provide them with more desirable skills in the job market. Some programs even offer licenses or certificates required to go into certain industries. The money saved from paying for tuition to earn an MBA can be put to better use as an investment toward starting a new business. 

  • Develop an Original Idea

Conducting proper market research to find gaps that you can fill with a product or service will help you tap into an area where you will have little to no competition. This takes a lot of creativity and vision. These are qualities you can develop on your own without coursework.

  • Get Others Involved

Leadership skills come from working with and managing others. While there are group assignments scattered throughout an accredited MBA program, you can also gain this experience by collaborating with and leading others to grow your business.

  • Take Calculated Risks

You’re not going to learn anything about risk-taking when earning a degree at school. You can only learn through trial and error. One can’t simply take blind risks that could bring their business down; one needs to make careful calculations based on current data.

  • Be Patient in the Process

Very few startups make enough money to stay open until after a few years. You must maintain perseverance and understand that you will need to make adjustments as your business develops a customer base and a good reputation. 

  • Final Thoughts

An MBA is not necessary to become a successful businessman. The amount of time and money you will need to spend attaining a degree could be used as seed money to launch your business. You can gain experience by working at a job within your industry and taking courses online or in-person that develop the practical competencies you do need to succeed in today’s world. 

Adam Torkildson