education vs working right away

[dimensteinss]

i've been working since i've been 18, i'm 23 now, but i also want to open a business/go back to school and idk what to do.

 

[Cam]

I recommend talking to an adviser, seeing what type of business you're starting, how saturated the market is, and taking out a loan

 

[dimensteinss]

I recommend talking to an adviser, seeing what type of business you're starting, how saturated the market is, and taking out a loan

i have a great credit score, and my family is all business oriented, and my brother owns a restaurant, but firstly i have nothing to take out a loan against, and 2ndly, what type of advisor?

 

[Cam]

You may be able to get a co-signer for the loan... And a business advisor who's help you with the process of starting up the business

 

[dimensteinss]

You may be able to get a co-signer for the loan... And a business advisor who's help you with the process of starting up the business

where do i get a business advisor? is it worth hiring one even with my whole family being business oriented?

 

[Cam]

Depends on how successful your family is. If you don't think its worth it, I wouldn't do it and just take advice/have them guide you throughout the process

 

[dimensteinss]

Depends on how successful your family is. If you don't think its worth it, I wouldn't do it and just take advice/have them guide you throughout the process

i mean 2 of my uncles have retail shows and my brother has a restaurant, so idk what to do :/

 

[malakadang]

If you plan to be self-employed it doesn't make much sense to go to university in order to get a qualification. If however, you think you will be an employee, then you probably need that university degree. As cliche as it sounds, it really depends what you want in life; try not to treat education as an end in itself, but a means to some end.

Also, is part-time study an option?

 

[kmjt]

If you know you want to run your own business and not work for any company in your life, you don't need a formal education. You can learn what you need to run your business through online resources, probably even for free. If you plan on ever working for a company, it is probably worthwhile to get some kind of formal education. When it comes to most business related jobs like management, you will probably really struggle trying to find a company to hire you if you don't have formal education.

Also, I think you first need to reflect on what you actually want for yourself. You seem to reference your family a lot as business-oriented as if it is implying that you have to follow the same path. Don't just start a business to validate yourself to your family.

 

[dimensteinss]

part time study is an option, but i'd rather work full time and save up for a business quicker.

i reference family as business oriented a lot because i feel like if they all run successful businesses they can definitely help me

 

[70i]

Find a career before working. There's no point in working at a worse job when you're going to find a better job anyway.

 

Find a job in a field that you want to start business in to get general idea of how everything works, so you don't need to fuck up later, and when you think you have enough experience to do everything yourself (without any help) then do it and start looking for people to work with. Just don't be one of those morons that blindly invest money in a business they have no idea about and get hustled by everyone.

 

Start off with finding a job that suites you going to school. A degree is not necessary, but it helps. It's not too hard to find a balance. Then again it does depend on where you live. Care to share that information?

 

[I Bleed Duke Blue]

Well my education has put me into massive debt but I'm finally starting to see returns on it after 5 years of hard work, 2 degrees, but I've accrued a massive mountain of debt.

Be really smart with your student loans. Don't bite off more than you can chew. Don't get sucked into the trap I did. College has a way of being pseudo adulthood. Your debts aren't really debts yet. You don't think of them as debts. You think "Well I won't have to pay those off in ages, why worry?". Sadly I had nobody to tell me what a foolish line of thought that is.

But you have a perk. You're 5 years wiser. 5 years smarter. Than when most people start school. You should definitely try to go back man. Community college sounds like an excellent, non debt suffocating option. I think @Pure has talked about going this direction but you'd have to ask him. As someone who didn't, I can say he is very smart for doing it. Minimize your debt, maximize your potential.

Good luck dude. I sort of wish I had done the work thing before the school thing.

A lot of my friends would do a mix of community college and then with high enough marks transfer over to a state school. That's always a smart economical option and it allows you the best of both worlds (to experience college life while not amassing crippling life changing debt).

 

[Gun]

I would advise getting into a trade. Self-employ yourself or work as an apprentice until you have the work experience to open your own company.

Masters are more than glad to obtain an apprentice now a days due to the downward trend in active tradesmen. In addition the trades pay extremely well.

ie; I was 18 out of high school and did NOT want to continue another 4 years of school right away. I worked part-time as an interior/exterior painter for $35/hr on average. Most painters make $30-75 an hour.

Look into Painting, Carpentry, HVAC, Plumbing, Auto/Diesel mechanics. All of which pay exponentially now and will only increase.

 

[Materelam123]

Educate yourself on the market your starting your business in. There are also alot of great guides on the web that teach you valuable lessons in the life of business. It's not just starting a company and thats it, it takes extreme discipline, mental strength and patience. I recommend you watch some videos of the channel "valuetainment". And read the book "Drop out and get schooled" by Patrick bet-david, this book perfectly describes the situation you're in, and it will probaly will make your decision easier when you read it. If you need any advice on good business books, guides, or general advice about becoming an entrepeneur, feel free to contact me using pm!

 

[Clinton4Jail]

I would ask your relatives if they are already successful in business , they are definitely your best bet . As for the education part if you are not learning something new every day in or out of your current occupation , there is no time like the present to get started.

 

[iGeeks]

I don't think it is necessary to go back to study if you're wanting to open up your own business.
The best is learning on the job

 

as others have stated, if you want to open a business yourself, you dont have to have a degree of any sort but it is strongly recommended. when people do some background research on a business, college, for whatever reason, makes consumers feel a lot more comfortable and secure when working with someone who has academic experience.

Personally, i would sidestep the college, and dive straight in once you research the market, demand, specified audience, etc

 

There are a multitude of options.

• Self study with an open university while you work
• Part time college and work
• Just go for it, you don't particularly need a higher education to be successful
• Go to college for however long, work a shitty job while you're at it.. you wont even be 30 by the time you're done - not too late by any means and plenty of time to research your idea and formulate a business plan
• Get an apprenticeship/internship as a way in to a career, learn on the job

There is no right way, most of it is just luck and being in the right place at the right time but also knowing your limits and capabilities.