Does College Matter for Entrepreneurs?

I don't feel that you need a college education. I see it as just a way of being told what should be done, but I would be surely glad to hire these college grads for my business.

We are in the camp that says one doesn't need a college degree to be an entrepreneur (in fact our whole school doesn't require or give degrees), based on a variety of reasons: 1. Even among business owners of successful businesses (forget the celeb people like Gates and Zuckerberg), about 50% don't have degrees. 2. The non-degreed do in many cases have technical training of some sort, like mechanical, welding, etc. 3. The key ingredient is the burning desire to be one's own boss, have a burning desire to do something different.  4. The  non-degreed do realize that, in nearly all cases, the colleges don't teach the running of a business, and they're quite receptive to courses in areas where they lack knowledge. John Heinrich, Chief Mentor American School of Entrepreneurship www.theasoe.com

Everybody has their own opinion depending on their environment and lifestyle. I personally do Not believe you need a degree to make it as an Entrepreneur period. You can work a regular job, put all of that money into your business building it, and then quit when your business is where you want it to be financially. College debt can be 100,000+ that money can be put into a business as far as I am concerned. Guess what Bill Gates hires those with degrees to work for him. He has no degree and he is the BOSS......

I absolutley love what you posted! I was completley blinded by the socially accepted practice of "You Must Go To College and Get A Degree to Be Successful"(this is the "right road"). So now that I'm taking the "left road" everyone is looking at me as if I'm a failure. I am opening a Youth Empowerment Organization and I have recently dropped out of school because I want to focus on it and my other business venture. However, I am going to receive multiple certificates just so I can have some school education. My family continues to tell me "You have to go to school," and all I can think is "I don't plan on working for anybody." They continue to quote that majority of individuals with masters degree's can't find jobs. I've been doing so much research and you proved my point once again. To be an entrepreneur you don't need a degree but you do need education. Well, what defines education? And who defines education? There are many ways to educate yourself it's just our job to find out the many ways on how to do so. I am currently working on my Experience Transcript. Is it true that the governement and or other forms of investors are more than likely to deny investing in your organization because you don't have a degree? or is experience enough?

No College is not important at all ... you don't need college bill gates didn't & By GOD I Don't need it !

Education can come from many sources, college is just one of the many channels available out there. The problem is not education itself, but the education system that has turned into a business selling students the promise that if you "buy" a degree, you are guaranteed a better job and lifestyle. It is possible to get a degree without an education because the development of the mind is not based on whether you have a degree or not, but on principles and experiences that you acquire throughout your life. Entrepreneurs don't need a college degree to start a business. All they need is a business idea, research, develop skills and network with the right people.  I think that going to college is not a profitable investment anymore, given that the average student accrues around $50,000.00 or more of debt. Unless you are going to become a doctor or lawyer, I think you can get hands on experience and read about whatever it is that you want to do without incurring in so much debt. My experience in job searching is that employers look more at the experience that you have in a particular field or application and not necessarily the college degree that you have. 

Get as much education as you can get your hands on before you have to start earning your own way in your own business or someone else's. 

College is a network. Networks start businesses, classes are your chore for the experience(much like taking out the trash). Build a network and use it in a smart way in college and you are golden to build your start up.

I would be careful not to generalize , I am a university student and I'm not one of these whiny hippies.

We all must recognize the concept of relationships, communication, determination, will, a dream, ambition, the local library, Google, experience and every single bit of the "FREE" way of life and self-educated individuals who know what they want out of life, and recognizes that education is "FREE" and the only thing anyone would have to "PAY" is attention. College is for those who deem it necessary to be taught by someone for a commission based fee because maybe that individual or those individuals lack the ability to learn on his or her own and on his or her own time. However, Entrepreneurs need these college graduates because they have learned how to follow rules, codes, laws and orders based off of a computerized structure of a 4 year "Degree" and the concept of how another, being that of the Professor sees how a structured business or business plan is put together or formulated. Based off of experience alone, a college grad usually doesn't get a job right after graduation as expected. Forbearance after Forbearance, then the loan agency or "COMPANY" starts calling, Ok!!!!  It took an individual maybe $1000.00 and a dream to start that Loan Company or Agency, It took that now Stressed College Grad 4-6 yrs of partying and learning something someone else sold them (That Dream), wasting time in and out of a classroom, with now a $50,000.00 Debt.... Hmmm!   College Degree = -$50,000.00 Debt Independent Entrepreneur = +$50,000.00 and increasing Book Smarts vs Common Sense Combine the two with hands-on experience, boom! You have an Entrepreneur with a free education and 50+ in the bank! 

Hi! im from argentina and here to the people is very important go to the university. But the true is the best way to learn is the practice! If somebody want to contact with me this is my email taitosebastian @ hotmail.com south america is a good place to make bussines.  Thanks! and sorry for my english

You've hit it well.   You need a degree for job that requires credentials.  That's it.   But the question is for enterpreneurs, and there no one cares, much, that you have a degree or where its from. Meanwhile, your business desperately needs capital and investment, which you might have squandered on supporting an education bureaucracy.

Only 25% of high school diploma, while another 19% attendance, but did not graduate from college, according to the Census Bureau. Thanks.

No it is not.  All those university educated kids are the ones lining large cities with these sit ins as they do not seem capable of innovation.

Yes that is true however he soon dropped out. . 

i think Zukerberg went to Harvard

Education is important. The educarion system is screwed up. You dont need a diploma to say.your educated. Cant one learn on there own or self taugh or teach or learn from mentoring education. There are many ways to learn educate people. College is a business that everyone do to deem themselves educated. Now, I dont have a problem with education bit just the education system.

I struggled with this all through college. My heart has never been in employment.  I always wanted to be a business owner. But the status quo is go to college to be successful in life. What a bunch of C---? I recently looked at the US Dept. of Education website and their latest charts show the median income for males with college grads in 2009 was 51,000, male non-grad 33,000. Females grads made 40,000 and non-grad 25,000.That doesn't sound like success to me. Sorry I subscribe to Cornelius Vanderbilt life long Motto: "Never be a minion, always be an owner." Here is posted about never being a minion again: http://eshaaddy.com/don’t-be-another-man’s-minion-own-your-life/

seriously college sucks when it comes to entrepreneur minded peole....please dont go to college if you want to build a startup....I am studying in an Indian college ( IIM ) they are highly reputed . But they all talk about only jobs .They never even mention the word entrepreneur....I feel like i have wasted an important phase of my life and also I am spending lot of money for this MBa degree...I am stuck.

Since we run an online business school, we don't think college is at all necessary for entrepreneurshp. We can give an entrepreneur all the training he/she needs to open a store, or launch a business for less than the cost of one college credit. And, faster, too. The Kaffman institute, which studies entrepreneurship, said recently that only 10% of entrepreneurs came out of entrepreneurship programs; let's hope they're studying what the college grad percentage was. Based on my entrepreneur clients, I'd say no more than 50% even went to college.

Education‐What Is It? I continue to receive a barrage of e‐mail containing concerns regarding education. “I’m 27, have a degree in psychology, and still don’t know what I want to do.” “My son has dropped out of college and I’m concerned he’s on a road to nowhere.” “I’m an attorney, four years out of law school, and think I have made a mistake.” What is education? Is our traditional thinking about getting degrees still accurate? Webster’s dictionary defines education as “the process of training and developing the knowledge, skill, mind, and character” of a person. With this definition we can readily see that education can occur in many ways and is certainly not confined to traditional classroom. I have spent my life involved in the academic world, having completed my studies. And yet I have been concerned about the overselling of that kind of education in our country. We know that 10 years after graduation, 80 percent of college graduates are working in something totally unrelated to their college their key to success. There are 2 reasons to go to school: (1) to get a piece of paper so someone will give you a job, and (2) for the personal development that takes place. If you go only for the first reason only, you will probably be disappointed. The second can never be taken away. But recognize where personal development can take place. You may work on a construction crew, an organism farm, a day‐care, or in a classroom, and all are legitimate places for growth and education.

Education‐What Is It? I continue to receive a barrage of e‐mail containing concerns regarding education. “I’m 27, have a degree in psychology, and still don’t know what I want to do.” “My son has dropped out of college and I’m concerned he’s on a road to nowhere.” “I’m an attorney, four years out of law school, and think I have made a mistake.” What is education? Is our traditional thinking about getting degrees still accurate? Webster’s dictionary defines education as “the process of training and developing the knowledge, skill, mind, and character” of a person. With this definition we can readily see that education can occur in many ways and is certainly not confined to traditional classroom. I have spent my life involved in the academic world, having completed my studies. And yet I have been concerned about the overselling of that kind of education in our country. We know that 10 years after graduation, 80 percent of college graduates are working in something totally unrelated to their college their key to success. There are 2 reasons to go to school: (1) to get a piece of paper so someone will give you a job, and (2) for the personal development that takes place. If you go only for the first reason only, you will probably be disappointed. The second can never be taken away. But recognize where personal development can take place. You may work on a construction crew, an organism farm, a day‐care, or in a classroom, and all are legitimate places for growth and education.

Back in the day, everything that was said about getting a degree was true. If you had a degree, you separated yourself from the pack. Not many people were able to get degrees because not many people were able to afford college. It was normally reserved for the rich or upper middle class. And that’s precisely why the degree was so valued,  It was valued because it was scarce.   Scarcity creates value. But amidst all this talk of a college degree opening doors, high salaries, intangible benefits, there is one major drawback of getting a degree. What is that? Debt. They always forget to include that don’t they? But some may say it’s a good investment because you get a high paying job so you can easily pay it off.   But remember, that was then. What about now?   It is precisely this factor of high debt coupled with the dropped value of a college degree in today’s day and age that has led to and sparked the debate of “degree vs. no degree”. Real world marketable skills and experience are the things being left out and those are the things that are scarce and will start to differentiate one person from another. These things comprise of the new “degree”.   Is getting a college degree important for entrepreneurs these days?   The answer is:  It depends on what you want to do.   I know everyone wants a definitive yes or no answer but the truth is, it really does depend on what you want to do.   If you want to become an electrician, vocational school is the answer so a degree isn’t worth it to you.   If you want to become a doctor or lawyer, then of course a degree is worth it to you.   If you want to start your own business, and you have a solid plan with capital, then you might think getting a degree isn’t worth it to you right now.

Does college matter for Entrepreneurs? Well I shall throw out a few names here and see if you can spot a trend: Richard Brandson, Mark Zuckerberg, Simon Cowell, Walt Disney, Henry Ford, Bill Gates and Steve Jobs Just a few names which sprung to mind and Incase you hadn't figured it out already, none of these entrepreneurs went to college. . .

Aspiring entrepreneurs can get just as much knowledge, if not more and tailored, from doing their own researching. Reading books from notable figures in their niche, attending networking events, and building their own audience / fan base is worth much more to a potential business owner than a degree and can cost less too.

college is not necessary entrepreneurs. no school teaches how to setup a business.

When I went to college only the dumbest of the dumb majored in art, philosophy, or  business. However, most were very good people with great communications skills. If you think about what it takes to run a small store, restaurant, beauty shop, repair shop, etc., college is not really necessary as short specific vendor training will suffice.

I do think college is beneficial to entrepreneurs but i dont think its a must have. If you have it, use it. If you dont have it get it in an area, perhaps, that creates beneficial avenues for your business to travel on. Basically, if you feel that need to have an MBA or PhD behind your name for the purposes of credibility, make sure its worth the dough.

u network with piers? amazing..

Education in a sense doesn't have to be limited to sitting in a classroom bored out of your mind taking notes like a robot and then writing the exams (which are soon forgotten afterward) If you are smart willing to work hard, never give up, willing to learn from mistakes, you will get ahead in life and NO you don't require a piece of paper to tell you that. I have a college degree and in the end its just a piece of paper, I could have been further in life with what I want to do by just getting a mentor and moving forward. So no, you don't need a degree, MBA etc. to be a successful entrepreneur. But be prepared to work very very smart and very hard to succeed its not the easiest path traveled. If you tend to value benefits, the predictability of a steady paycheque, stick to a 9-5 and be an employee.

I have an MBA, and have had several businesses.  I think the networking of business school both with piers and graduate professors is a huge value to entrepreneurs.  I participated in an Entrepreneurial mentor-ship program offered at my business school which was a great asset to my business.  It helped us gain needed contacts as well as funding.   The education itself was very helpful in my businesses as well.  I often wonder where my time was better spent in the classroom or if i would have been bettor off out learning by experience.  But i have no regrets from putting the time and financial investment into my degrees.  

I don't think it hurts, but I see plenty of successful entrepreneurs who haven't gone to college. The only problem with formalized education is it's lack of practicality and you can't simulate experiences of trial and error.

Age 50 is old?  Really?  This statement devalues your entire article.  I could say more but we old folks have to keep working in order to stay ahead of the youngens...back to work I go. I may nap later, as we ole' folks do...but tonight I will reflect on how many decades ago I graduated--all 3 of them--and ponder what my life could have been if I was 20 something in this era and just starting out.

I believe earning a college degree is very important if not essential for most entrepreneurs. Entrepreneurship takes trial and error. Not every idea is going to see itself through to success and certainly not every idea is going to see itself through to the level of success the entrepreneur ultimately desires. College is a time for ideas to grow in different directions. The degree allows for the added diversity of being attractive to a company as an employee while your ideas find clarity and direction. Entrepreneurship takes endless dedication and unyielding devotion few truly understand. A college degree helps build the case that your serious about not only playing 36 holes but that you plan to play on the weekend too.

Agreed! Education should be on top priority weather a person make millions in a year which can be a fluke but might not be a long lasting success.

Usually entrepreneurs  with a college degree have a different way of doing business than those without a college degree. Through 4 years of higher education, they learned so many things (from business matters to social matters) that are valuable for their businesses. I bet that those who graduated from business school would have learned on how to prepare a business plan. With this business plan lesson, they can prepare their own business plan that covers all business things. 

I started both at the same time. Was it the best way? I don't know, I just know I wanted to do both and I am learning from both. So far my formal education has been very beneficial to running my own business.

Education vs. entrepreneurship is an interesting puzzle. I'd vote for a little more education... at least enough to understand the difference between "yoke" and "yolk".

While many have managed to build million dollar brands without the benefit of a college degree, education should never be neglected just as there should be a balanced view towards a college education.

Interesting post. I am a high school graduate working from home as a freelancer hoping to grow my business from local to nation-wide and even internationally. I am thinking about going to college in a year or two so I can have higher education under my belt and take from what I learn and use it in my everyday business. Anthony Meszaros http://meszaros.me/

No I don't think a college degree is important for entrepreneurs. But I think the college environment can give them the connections and networking they might need to blossom their ideas. Knowing people that know people who know people is a great thing for a entrepreneur. This is my opinion and I would like to hear your thoughts on this topic?