How to Be a Successful Entrepreneur Without a Degree
By Tara Brennan
A lot of people think to be a successful entrepreneur, you need to have a college degree. This simply isn't the case. There are plenty of successful entrepreneurs out there who didn’t complete college, and you can be one of them! If a lack of a formal education is holding you back from becoming a business owner, then you can benefit from these tips on how to become a great entrepreneur without a college degree.
The Right Idea
There are various types of businesses particularly well-suited for those without a college degree. For example, if you're good with your hands and like working with tools, you might consider starting a home improvement business or a small construction company. Alternatively, if you're creative and have an eye for design, you could start your own fashion label or detail cars. The possibilities are endless. Just make sure to choose a business that plays to your strengths.
Have a Business Plan
A business plan is basically a road map for your business that outlines your goals, strategies, and how you plan to achieve them. It's important to take the time to write out this document because it forces you to think forward towards what you want your business to do and be. It will also give you something to refer back to as your business grows and develops. Additionally, if you ever need to raise capital from investors or take out a loan from the bank, they will ask to see your business plan before deciding to give you money.
Find Funding for Your Venture
If you don't have any money of your own to invest in your business, that doesn't have to stop you. There are plenty of ways to get funding for your startup without going into debt. One option is to apply for grants from the government or private foundations. Another option is to crowdfund your startup by asking friends, family, and strangers to donate money through platforms like Kickstarter or Indiegogo. You could also try pitching your business idea to venture capitalists or angel investors in the hopes they will provide seed money in exchange for equity in your company.
Maintain a Strong Sense of Organization
As your business grows, you'll inevitably end up with mountains of paperwork, like receipts, invoices, contracts, and employee records. Any Connector emphasizes that it's crucial to stay on top of this paperwork and keep it organized so that you can find what you need when you need it. One way to do this is to create an electronic filing system where all of your important documents are stored electronically and can be easily accessed with the click of a button.
You'll Need Some Tech
In our current day and age, technology is increasingly important in businesses of all sizes. From point-of-sale systems and accounting software to customer relationship management (CRM) tools and project management platforms, there's no shortage of options out there. When choosing which technologies to implement, try to strike a balance between getting the most bang for your buck and choosing tools that will actually be useful for your specific needs. Don't forget: sometimes the simplest solution is the best solution.
You may find you have to outsource some of your technology needs, depending on your comfort level. However, if you have experience with coding, you can use this as a cost-saving advantage as you create your website and other technical systems. If you find yourself stuck and can’t move forward with your code, learn more about common troubleshooting techniques online. There is likely a simple solution out there that can get you unstuck and back in the game.
Find a Mentor
It's not always easy being an entrepreneur, which is why it can be so helpful to work with a mentor – someone who has been through the ups and downs of entrepreneurship before and can help guide you through the challenges you'll face along the way. Having someone in your corner who believes in you and wants to see you succeed can make all the difference when things get tough.
The best way to find a mentor is through networking. Look for opportunities to connect with other professionals, even if they are in other industries. You never know what connections can help you along the way. Check out Audacity’s upcoming events, too. They host affordable networking events (both in-person and online) to ensure more people have access to these important opportunities and connections.
You can also look into people you went to high school with to see if any of them became successful entrepreneurs. Try reconnecting with them through alumni sites and see if they’re a good fit to be your mentor. Even if they aren’t, you will have made another connection with business leaders in your area.
Stay Focused on Your Goals
Every entrepreneurial journey is unique, and that's what makes it so exciting. When you consider the above tips, you can be well on your way to becoming a successful entrepreneur without needing a college degree! Just remember to stay focused on your goals and always keep moving forward, even when things get rocky, because the results can definitely be worth it in the end.
Meet the Writer
Tara Brennan runs the blog, The Five Who Thrive, inspired by her family of five. After some rough pandemic years full of online learning, lots of tears (from everyone!), limited social interaction, and A LOT of family time, Tara wanted to share the activities, homeschooling lessons, and other tips that brought smiles and laughter to her family.
