company owners without college

[norsky]

Originally Posted by GreenI.A.

i have a duel BS and am working on both a MS and MBA.

I don't think a degree is 100% necessary for a good business, but it does definitely help. Having a business, or business related, degree will definitely help with the behind the scenes of a business. Like tony said above, even if you don't go for a full degree, taking a few basic classes such as communications, writing, low level business and accounting classes will definitely go far at helping you and the business.

I'll add this, college is more about the learning process than the subjects you actually learn. This is why companies will prefer any type college degree for basic positions over someone with out a degree. College shows that you know how to learn and can learn different topics/subjects. I can also say, 90% of the time I talk to someone for a few minutes, I can clearly tell if they have a college degree or not by how they talk and present themselves. If you do not think this effects your business, it does.

An education is never a waste.

[cpllawncare]

Some very valid points made here,
1- College isn't going to make you or break you, only you can do that.
2- College only teaches fundamentals, the rest is up to you.
3- The school of hard knocks is where most people have their true degree's.
4- An education is never a waste, just puts you in extreme debt, qualifying you for a job interview, so you can work for pennies on the dollar for the OTHER guy.

[dstifel]

Good topic actually looked into this a lot when deciding to drop out of college or not. Came up with these numbers keep in mind this is where i live and probably changes throughout the country. The average 4 year degree costs about 43,000$ most degrees require a 5th year these days so we will say 50,000$. Where i am from the average degree earns you 15,000$ more annually then a small business owner. Im coming up on my 4th year of ownership and am averaging just over 35 grand net while working a part/full time job. So you take the 5 years that they are in school not making money times my average of 35,000 and you get 172,000$. Then you add in the 50,000 dollars in student debt and get 222,000$. You factor in that 15,000$ more a year that they make then me assuming that my business does not grow at all even though i have a 5 year head start and in roughly 15 years they will pass me on income made. Maybe this does not make sense to you but for me it was enough to sway me away from college and getting right into business that i knew i would want to be in eventually anyway. Like it said just in my part of the woods a lot of college degrees don't have jobs available for them so it does throw the average off I'm sure but it is the work force i would be going into.

[cpllawncare]

That's the thing! when you work in corporate America, there is a glass ceiling, you're only going to make so much, even WITH that college degree, IE: I have one also, luckily the Army paid for mine. If you're lucky enough to have college paid for by someone else then by all means go for it. But if you are going to have to pay for it yourself your already behind, not only with real world experience but financially as well. There aren't many fields that will allow you to make enough money coming out of college to start a self sufficiant life while having to pay off those student loans at the same time.

[dstifel]

Exactly like I said that is assuming my business does not grow at all In 15 years.
Posted via Mobile Device

[cpllawncare]

Originally Posted by dstifel

Exactly like I said that is assuming my business does not grow at all In 15 years.
Posted via Mobile Device

And that is highly unlikely! I'm glad to see someone smart enough to run the numbers and not go with the old adage, "You're going nowhere without a college degree" it's simply not true anymore.

[tonygreek]

Originally Posted by dstifel

So you take the 5 years that they are in school not making money times my average of 35,000 and you get 172,000$. Then you add in the 50,000 dollars in student debt and get 222,000$.

Keep this in mind when you think doctors or attorneys are overpaid, with the added bonus of a pile of college debt most of you with snowplows would struggle to move. lol

[cpllawncare]

Originally Posted by tonygreek

Keep this in mind when you think doctors or attorneys are overpaid, with the added bonus of a pile of college debt most of you with snowplows would struggle to move. lol

Most avg family dr's don't make a ton of money like most people think, neither does the avg laywer, but yea they still get stuck with the debt of eight years of college. I personally would go for an engineering degree, they can make fairly good money right out of school and one with a masters can do very well if he chooses electrical or chemical.

[dstifel]

The bad part is my mother did not feel the same way when i tried to explain this all to her and suggested the stigma i will go no where without college. IM currently 21 years old and purchased my first house this last spring at the age of 20. It was a cheap house that needs work but all stuff i am able to do. Once again puts me years ahead of all my friends who will get out of college have no money saved up live in apartments for years paying for something they will never get a return on.

[meets1]

College is a good thing. 2 year or 4 year or longer. But college education is something to fall back on if you get hurt, sell, need to move on. Nothing bad about it.