No business degree? No problem. That's what Ralph Lauren, Louise Hay, Richard Branson and many others said. And you can, too.
Today, entrepreneurs starting up businesses don't necessarily need a business degree. After all, an entrepreneur makes his or her own destiny. While having a business degree could make some things easier, having a business degree does not guarantee business success. If you don't have a business degree and are considering starting up a business, make sure you find out about the two essential ingredients you need to be successful in business.
Top Two Things You Must Have to Be Successful in Business
1. Be an expert at what you do.
We are living in a time of unprecedented opportunity. Opportunity in every field, in every industry, in all parts of the world. To be successful in business, you need to become a leading authority in your field.
Not only do you need to become a leading authority, you also need to be seen as adding value to the marketplace. Adding value either directly to people by means of the services that you offer or in people's lives by the products you supply.
Experts get more attention. They get the lion's share of the market. They get noticed, approached, and followed by the media. Being an expert means your cash flow will increase, you can command more for what you do, and more people will be willing to buy from you.
Ralph Lauren, American fashion designer and business executive, started working after school to earn money to buy suits for himself. In high school, he was know for selling ties to his fellow students that he had designed himself. His first store was a necktie store.
From the beginning, Lauren was interested in suits that were tailored in classic men's style. He became an expert in this style and went on to tailor women's suits in the very same style. Lauren became an expert at what he did and a leading authority in his field.
Although Ralph Lauren did attend Baruch College where he studied business, he dropped out after two years.
2. Be good at what you do.
Right now, we are witnessing a time of great hope and excitement, the likes of which we have not seen in a very long time. While we are in the midst of the worst recession many of us have every experienced, people everywhere understand that, "this too shall pass." And it is this thought that's keeping our spirits alive and our beliefs buoyed for a brighter future.
For the business owner, talents and skills, above all else, will define your true value in the business world. Now more than ever, you have to be good at what you do and focused in on what you do best. You have to take charge of where your business is going and align with the resources of the world to make it happen.
Louise Hay, best selling author and founder of Hay House publishing company did just that. By focusing on what she did best, Hay changed the spiritual landscape in America. Although she had an unstable and impoverished childhood, was pregnant at 15 and ran away from home, Hay took what she did best and made it into a prosperous corporation that has sold millions of books and tapes worldwide.
Don’t have a business degree; you’re in good company. According to SCORE, most people starting up a business do so without a business degree. If you want to become successful in business, then you must become an expert and be good at what you do. Just like Virgin mogul Sir Richard Branson who quit school at age 16 and went on to found Virgin Records, Virgin Atlantic Airways, and most recently Virgin Galactic, you, too can be successful in business without having a business degree.