Do You Have Any Real-World Experience In The Industry?

Hands-on experience in the industry you are pursuing is helpful, giving you the knowledge to see if you are on the right track. If you are unsure about starting a business without a degree, consider diving into your chosen industry to gain experience – perhaps working on your company as a side project before turning your idea into a full-time business.

Grech recommended volunteering with someone in the field before starting your own business, to learn if you like the industry, people, hours, etc. People in some industries benefit from an apprenticeship or an internship.

“This will help you decide if you like the career enough to dedicate the time to starting your own business, and it will also help you assess your skills to know if you need further education to establish yourself as a professional in that field,” said Grech.

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For Randy Wyner, founder and president of the restaurant franchise Chronic Tacos, there was no choice when it came to getting a college education. His responsibility to support his young son meant he had to get a job instead of going to school. After working his way up to a managerial position at Jiffy Lube in just a few years, Wyner knew he had all the experience and drive he needed to go into business for himself. He allowed himself time to develop his entrepreneurial spirit before starting his journey.

“Hands-on learning helped me understand how to manage a business quicker, whereas college students learn mostly by memorization techniques and tricks,” Wyner said. “Following this path helped me grasp what to do and what not to do when running a business. Although college may educate you on business elements, you can’t learn how to run a business until you actually become an entrepreneur.”