5 answers
Jasmine
Student
Grundy Center, Iowa
4
Questions
Asked
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Do I need to get a business degree to open/start my own business?
I am going to start my own plant nursery business after I graduate from college. I want my business to be centered around helping people and enjoying my job, not just about the money. I hear a lot of people say that when you go for a business degree, they teach very adamantly about how to make a lot of money, so would it be better to take online classes for business instead of an actual college class? #nursery #plants #horticulture #business #entrepreneurship
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5 answers
Doloris Garry, MBA
Manager
23
Answers
Detroit, Michigan
Updated
Doloris’s Answer
Hi Jasmine,
You do not need a degree in business in order to pursue entrepreneurship. However, I encourage you to seek education, formal or informal, on entrepreneurship. There is a lot of software options like Quickbooks to keep track of finance/accounting based business transactions, as well as to prepare for tax season. In addition, depending on your business, there are grants you can apply for in order to get your business off the ground. I highly suggest you do your own personal research about starting a business and reach out to entrepreneurs in your field to pursue a sort of mentorship relationship. Your local and state Small Business Association is a great place to start.
-Doloris
You do not need a degree in business in order to pursue entrepreneurship. However, I encourage you to seek education, formal or informal, on entrepreneurship. There is a lot of software options like Quickbooks to keep track of finance/accounting based business transactions, as well as to prepare for tax season. In addition, depending on your business, there are grants you can apply for in order to get your business off the ground. I highly suggest you do your own personal research about starting a business and reach out to entrepreneurs in your field to pursue a sort of mentorship relationship. Your local and state Small Business Association is a great place to start.
-Doloris
Thank you for this new info! I will use this to help how I will further myself!
Jasmine
Rohit Nambiar
Program Manager
20
Answers
Bengaluru, Karnataka, India
Updated
Rohit’s Answer
Hi Jasmine,
The answer to your question is Yes and No. One needs passion to succeed.
There are several businessmen who are successful and do not have a formal degree and then there are equally those business men who have a formal education. What is common for both sets of people is passion and commitment towards their business, the products and their customers..
Practical experience and a degree both have their uniquness and they often supplement each other. But it is passion that sticks it both together.
Regards
Rohit
The answer to your question is Yes and No. One needs passion to succeed.
There are several businessmen who are successful and do not have a formal degree and then there are equally those business men who have a formal education. What is common for both sets of people is passion and commitment towards their business, the products and their customers..
Practical experience and a degree both have their uniquness and they often supplement each other. But it is passion that sticks it both together.
Regards
Rohit
Thank you for this information! I will take this into consideration!
Jasmine
Nick Colovos
Credit Analyst
2
Answers
Alpharetta, Georgia
Updated
Nick’s Answer
Hi Jasmine. Great question asking if a degree in business is necessary for opening your own Plant Nursery. While it is not required, there are several courses regarding business setup, management, and marketing that can help you when it comes to setting up your own business. While you might not want your business to be centered around earning money, that is a very important component when running a business as there are a myriad of fixed and variable costs that can impact your business and if not managed correctly, could lead you closing your business. Some fixed costs will be leasing of the land/ building for the nursery, water, electric, internet, phone, and wages. While business degrees might come across as just a way of making money, it is more than that, they are trying to educate people on how to keep businesses running efficiently.
It would also be prudent to understand more about the plants you might want to have in your nursery, because it is important to be educated regarding all plants that will be under your care until they are sold. The best way to do this is to have extensive knowledge regarding not just plants in your nursery, but how they will grow and thrive in different environmental conditions that your customer's might place the plants. Some of the environmental factors that you'll need knowledge of are sunlight requirements, minimum and maximum temperature tolerances, watering requirements, humidity, diseases the plants could contract as well as possible treatments and nutritional requirements are all important. I would recommend trying to obtain a degree in Botany, Plant Science or Plant Biology with a minor in business. If it is possible though, try to obtain a dual degree in one of the plant sciences as well as business.
It would also be prudent to understand more about the plants you might want to have in your nursery, because it is important to be educated regarding all plants that will be under your care until they are sold. The best way to do this is to have extensive knowledge regarding not just plants in your nursery, but how they will grow and thrive in different environmental conditions that your customer's might place the plants. Some of the environmental factors that you'll need knowledge of are sunlight requirements, minimum and maximum temperature tolerances, watering requirements, humidity, diseases the plants could contract as well as possible treatments and nutritional requirements are all important. I would recommend trying to obtain a degree in Botany, Plant Science or Plant Biology with a minor in business. If it is possible though, try to obtain a dual degree in one of the plant sciences as well as business.
Michael Farrie
2
Answers
Updated
Michael’s Answer
Hi Jasmine, it's a really good question and i'm sure there are countless different opinions to the right answer. Experience is certainly key to success, and the earlier you start the more experience you will gain. Personally I don't think you need a degree to open a business, however I do think a sound understanding of some business functions will help you. Simple accounting, sales, marketing are all good subjects to learn about in a class room to help avoid some costly mistakes in the real world. Much of what you learn at University might not apply in the working world and similarly much of what you learn in business cannot be learnt in the class room - so its a balance. If you are involved in business that you're passionate about then you will always be studying and learning the subject. But best of luck and always keep learning............and the best way to learn is when things don't go the way you wanted or thought :)
Timothy T
Founder/CFO
5
Answers
Irvine, California
Updated
Timothy’s Answer
Hi Jasmine!
That's a great question! As someone who has a business degree and is also a business owner, I will try not to give you a biased answer. I will, however, tell you that getting a business degree was one of the most rewarding experiences I have ever had. Of course, I am happy that I learned some basic business concepts like economics and accounting. But I will tell you that business degrees don't necessarily teach you how to effectively run a small business. And while there are classes that teach about maximizing profits, many classes these days also stress the importance of corporate social responsibility. Much of what I learned about running a business was learned after I left college and started working.
So while the actual entrepreneurial knowledge I gained from business school was limited, I gained something else from being in the business program that was infinitely more valuable: a new network of friends. You may have heard the phrase: your network is your net worth. I cannot stress enough how true this statement is. Your family and friends will be the biggest advocate for your nursery business and will also be the most willing to help you in your new venture. So while you may be the expert at plants, there may be parts of the business you don't have much knowledge about, and unfortunately, all business owners must deal with. Some examples would be accounting or marketing related. If you have a built-in network of friends who can help your business with these things, it is a lot easier for you to focus on what you are passionate about!
So while getting a business degree is not necessary to start your business, there can be a host of value you may be able to get out of the experience, not least of which is the knowledge you gain along the way.
Good luck!
That's a great question! As someone who has a business degree and is also a business owner, I will try not to give you a biased answer. I will, however, tell you that getting a business degree was one of the most rewarding experiences I have ever had. Of course, I am happy that I learned some basic business concepts like economics and accounting. But I will tell you that business degrees don't necessarily teach you how to effectively run a small business. And while there are classes that teach about maximizing profits, many classes these days also stress the importance of corporate social responsibility. Much of what I learned about running a business was learned after I left college and started working.
So while the actual entrepreneurial knowledge I gained from business school was limited, I gained something else from being in the business program that was infinitely more valuable: a new network of friends. You may have heard the phrase: your network is your net worth. I cannot stress enough how true this statement is. Your family and friends will be the biggest advocate for your nursery business and will also be the most willing to help you in your new venture. So while you may be the expert at plants, there may be parts of the business you don't have much knowledge about, and unfortunately, all business owners must deal with. Some examples would be accounting or marketing related. If you have a built-in network of friends who can help your business with these things, it is a lot easier for you to focus on what you are passionate about!
So while getting a business degree is not necessary to start your business, there can be a host of value you may be able to get out of the experience, not least of which is the knowledge you gain along the way.
Good luck!