So, my life goals have changes some what and I’d like to start a business. However, I have absolutely no knowledge or experience on how to do so. I initially hit on the idea to finally use my GI Bill and get a business management degree, but I’ve seen plenty of references in pop culture that suggest doing so would be a waste of time and money.
Why? And if so, how would college or any other training assist me with starting and then running my business(eventually-globe-spanning-empire)?
And other than a law degree, how could I learn practical patent laws and how they pertain to my (world changing, masses-dominating) ideas?
Thank you for the reply and the resource, but what would be the difference? Is an entrepreneurship degree also considered unnecessary? I ask because to my uneducated self, it sounds like the same thing.
A college degree will give you a big boost in life, even if you don’t learn anything in college. No matter how good you are in person, you may not get the chance to show it, because a lot of customers, hiring managers, venture capitalists, etc. make their first cut by looking at resumes, and automatically reject someone without a college degree.
It’s not impossible to succeed without one, but for every Bill Gates, there are ten thousand people who are very smart, and work very hard, but who have no degree, and see very average college grads get promoted above them, often after training them. Since it sounds like you don’t have some burning idea that you just can’t wait to implement, there is no reason not to go.
Ask yourself this question; Do you really want to start a business or do you really want to go back to school?
I say only go to school if it excites you and you are reasonably confident that the program is good. The thing is, some people thrive by going back to school, some don’t. It really is about your motivation. If you like learning/want to be engaged and want to put effort into doing work that at times may be maddeningly irrelevant to what you want to do, then school it is.
But the scope of the business is important too. If you can start small, are ok with making mistakes and can learn by reaching out to others with expertise, then forget school.
First step? Go to SCORE. Free consulting, and if you meet with a good consultant, can be very helpful.
Are you willing to sign an NDA and a no competition agreement? (is that how I would do it?)
And actually, the ideas I have should probably be implemented before someone else beats me to it. Maybe SCORE or another consulting firm would be the way to go.
I would suggest taking courses (online if unavailable in your area) in the areas that specifically pertain to your business idea (accounting basics and then stuff directly relevant - welding, programming, retail theory, whatever) rather than a degree in something.
I think degrees are great for folks who want to work for others (hey, it worked for me!), but if you have a business idea, seek out education and experience that will help that dream come true. I think a job in the field you seek to dominate would be best. That way you can learn from the inside.
That’s pretty much what my dad did. He was a welder and got laid off so he took some basic business courses over the summer and then started his own welding business. thirty years later, he retired a multi-millionaire.