pursue Business Administration ? Or there are still other route which are better ,more professional and allow me to have higher qualification ?
There are many people who want to get involve in entrepreneurship in their later life .Their get a bachelor’s in Management with a concentration in Entrepreneurship and Small Company Management or through some other ways .
Does this mean that I can actually take up business admin courses in my later life and become a successful entrepreneur as well ?
2 Responses to To become an entrepreneur , must I. ?
Most pioneering business leaders don’t have qualifications in business management. They leave that to the CEOs. Successful entrepeneurs come from all walks of life – housewives, accountants, film directors, economists, lawyers, doctors, engineers, scientists and, of course, computer programmers. Business management is a terrible degree unless you already have a trade or practical degree behind you and some industry experience to support your studies and, even then, it is not really necessary since no business management degree course can ever pass on the entrepeneurial spirit. A successful millionaire told me that business admin tends to groom people for middle management positions.
Good entrepeneurs are practical people, their education comes from the “streets”. They build up a business through hard graft, trial and error and only some theory and then, when the hard work is done and their business is a runaway success, they typically employ a managing director to run the business afterwards, while they either sit back and reap the financial rewards, or, more likely given their entrepenurial spirit, move onto something else in the pipeline, which is almost always bigger and better.
Richard Branson is a great example of a highly successful entrepeneur. He dropped out of school early but despite his lack of academic success, setup a series of big businesses which lead to him becoming one of the richest people in the world with a fortune of 6bn dollars. You can’t teach the qualities of an entrepeneur – this comes from life experience, not by going to university and learning a mickey mouse degree like business management. Of course management schools won’t tell you this – they want you to spend thousands of dollars on a business qualification. There are far more business school graduates than millionaires. That must tell you something.!
Everyone wants to be an entreprenueu. You ask around and I can guarentee you most people will rather be their own boss. Not trying to bust your bubbles, but a college degree is just a measuring stick, it will not teach you how to become an entrepreneur.
From personal experience, I suggest you get your degree in anything you like. Get plenty of work experience after graduation. Because most extrepreneurs start their own business within their field of expertise and experience. No one starts a business right after college. You should work from the bottom and work your way up. Then maybe one day if you are still motivated and feel you are capable, you can start your own business.
Just some things to keep in mind. Most businesses fail within 1/2 year (almost 50% of them). Most businesses will not see a profit for at least 3-4 years. You will need a lot of starting capital and are willing to lose all of it in case business goes south. It is a lot of hard work, and you will need people you can trust. With that being said, you need a LOT of connections and network of people. Thats why I say you need work experience to build these kind of relationships.
Keep your head up though. Even though most business don’t last first time around, you learn from it and start it again. Good luck.