Master’s not Required – Who Qualifies to Start Their Own Business?

What makes an entrepreneur? There are many scientific theories floating around out there; the genetic theory, how your parents raised you, or being the first born in your family. But in reality, anyone can be an entrepreneur. Anything could have developed in your life to create an entrepreneurial type of personality. Leadership and what drives you is learned by your life’s experiences. Most entrepreneurs don’t have formal training or education but have a passion and desire to succeed.

The founder of Dell Computers was a college dropout. Starting out of his garage, he managed to excel above all of the world’s top computer manufacturers. One in three computers sold today is a Dell.

The person who has the best chance of having a successful business does not necessarily need to have a Master’s degree. According to a 1992 United States Census Bureau report, only 5.3 percent of business owners have a Master’s degree or higher education. 9.4 percent had less than a high school education; some only up to the eighth grade. The largest percentage, 26 percent had some college. Oddly enough, only 17 percent had any business education. With business, the first mistakes you make are learning experiences, the second time you make the same mistake, it’s stupidity; get educated. Read useful books relating to your type of business and get the education you need to avoid those mistakes the first time.

Although knowledge and education are necessary to start and operate a successful business, some businesses fail simply because the owner lacks certain human qualities necessary for success. Below is a list of human qualities needed for any type of success in life, especially in business. If you don’t possess all of these qualities, you will have a difficult time achieving success being self-employed.

• You have energy and good health.

• You are a self-starter.

• You have a willingness to work hard.

• You are a good organizer.

• You are able to make decisions.

• You are able to make plans and follow through.

• You are able to inspire and direct others.

• You are honest.

• You are a jack of all trades and a master at one!

Ask yourself these questions as well, and be honest with yourself; it doesn’t help you to lie. How do you keep your own personal finances? Do you balance your checkbook regularly? Do you have credit card debt? Loans? How you manage your personal finances is a good sign of how you will manage your business finances.

Statistically, more men are self-employed than are women. Women may be selling themselves short in the business world. Although times have changed, society has taught us in the past that men are leaders. All of our past presidents have been men (so far). Women need to realize that starting a business requires attention to detail, devotion, commitment, and nurturing, all of which are natural characteristics of themselves. Women make great entrepreneurs.

So as you can see, a masters degree isn’t a necessity for entrepreneurship, but any and all education is beneficial to your odds of success. I wish everyone success in all aspects of their lives.

Carol Denbow is the author of numerous articles and books including, Are You Ready to Be Your Own Boss?, an easy-to-read and comprehend business start-up book. Read more at: AMAZON.COM or by visiting her website at:

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