Maroosh Minhaj - July 2, 2020 - Read time: 3 min
In today’s world, where everything is technology driven, information can be accessed within seconds. Where to open a shop, how much it approximately takes to open one and so forth. All of these questions can be answered with seemingly close accuracy.
On top of that, many businessmen today claim to not have studied business at all in the high school or even university years. They state that their intuition and exceptional interpersonal skills helped them establish themselves. Thus, the question arises that is a business degree really necessary at all in wanting to pursue being a businessman?
Is dropping out an option?
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Whereas it might seem true at surface level, managing a business is rigorous. The curator of Facebook itself, Mark Zuckerberg shines as an example of a college dropout who had achieved fame and fortune afterwards.
However, he had dropped out of one of the most prestigious universities during his time there. He had already achieved much under his belt and had vast knowledge about how to programme and market a website. Whereas it is not definite that attaining a degree will bring you a stable career, education will most likely always help you in the long-term.
While it is true that many businessmen today are not highly qualified, it is also a fact that their businesses do not run steadily. There are always highs and lows while managing any sort of establishment, however statistics have revealed that business owners who do not have prior knowledge tend to suffer more since they have to learn from trial and error.
Whilst the Subject of Business is not, Experience is Necessary
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One of the main things that the former type of owners compensate for their lack of knowledge with is experience. Experience does tend to help enormously in a field where the probability to fail is as high as the probability to prosper.
Other than that, personality and interpersonal skills are also extremely necessary. One of the main things that come into play while establishing a business, is the person's ability to persuade and maintain a good impression.
Good relations and contracts can help immensely
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Since businessmen tend to branch their establishments through good relations and contracts, it is important for them to know how to communicate. This trait is not always inculcated through education. It can also be gained from experience.
However, multiple things come into play while establishing good relations, one needs to know if they are at an advantage with their business, will they profit for the deal and how can they increase their profit. All of this will easily come to an individual who has studied about the tactics involving business.
Thus, whereas it is not necessary to study the subject beforehand while indulging in this specific field, it is highly recommended. Businessmen with education and experience beforehand suffer less losses, tend to succeed more quickly and establish their businesses more firmly.
While a degree might not always help, knowledge does. If that person acquires that specific knowledge with experience and time, or by studying it, depends. However, there is no harm in informing yourself about the job you want pursue prior to actually indulging in it.