Do you have a business degree or you're thinking about getting a degree in business and you want to
know "What can I do with a business degree? What kind of jobs can I get? What kind of career can
I have? Will it help me be a business owner?" That's what we're diving into in this episode.
I've been excited to make this video for a while and it's a little bit different than what I
normally talk about. So, iIm going to start with a warning and then I'm going to go into some pros
and cons of entrepreneurship. And really cover all angles of a business degree and what you can
do with it and where it is and is not important to have. Okay, I came down to my bunker just because
I wanted to give you a little bit of warning before we dive into the content of this video.
By the way, you are going to like this video but it's not what you're expecting. Seriously, maybe
you should sit down when you watch this video just because it isn't what you're going to expect and
it might make you upset. See, I got my degree in human biology. Originally, I thought I wanted to
be a dentist. And then I started a business and I always thought it was a disadvantage. I thought,
"Man, if I could go back in time, I should have gotten a business degree. That would have helped
me so much in business." Because I was figuring everything out on my own. It was trial and
error it was experimenting. I did so many google searches like, "How do you get a business license?
Do I need a license? How do I name my business? What about logo design? What about a website?
What about products? How do I collect money from people? I mean just all these basic things,
I had no idea and I thought, "Well, I should have taken a business degree." They would have
taught me all of these things. And then I was having a conversation with my friend
Jason. He actually has a business degree and he's kind of showed admiration for the things
that I've done in entrepreneurship. And we were talking about like why he didn't pursue some
of his entrepreneurial goals. He had a business degree. And what I found is they taught him to be
an employee. When you get a business degree, they teach you how to work for someone else's business.
I just like, "Whoa!" When I figure that out, like a business degree helps you work
for somebody's business. Okay. Now that you have that warning, a business degree can get you a job.
That's what a business degree is for. A business degree is to help you get a job. It's not to help
you get into business. That's not what a lot of people think a lot of people think, "Oh!
I'm an entrepreneur. I'm going to get a degree in business."
Oh, man. I feel so bad for those people because at business school, their entrepreneurial spark,
that flame that's burning inside them, it gets squashed. It gets extinguished and
they get trained on how to be a good employee for other entrepreneurs. You don't just have
to take my word for it. Let's go to the official authority. Let's ask the question to google. What
can you do with a business degree? Wow. Alright, let's see what franklin.edu says. We'll open that
one. We'll go up to US news and we'll open up rasmussen.edu. Even get educated perhaps,
if we still have time. Okay. So, I mean we know that there's a lot of different specializations
in there. But everything here, it's talking about is is a job and it says if you're aspiring to an
upper-tier leadership role, you'll likely need a master's degree. But wait a minute, I want
to run a business. Okay... And they suggest here the top reasons to earn a business degree. Well,
you can level up and earn a promotion if you get a business degree. It can help you build a network
of like-minded peers if that's a reason for getting a degree. You can get salary increases,
okay? It can help you develop a more holistic view of strategy and operations. Okay. Well, that... I
mean, that's academic, right? It's like it's going to increase your academic knowledge. Okay, and it
may somehow increase your current job performance, help you transition to a new career, become a
better leader. Okay? A business degree is going to help. I'm sure there's courses on leadership,
sure. Okay, coming to the second page, business degree jobs. You can get corporate positions,
non-profit management roles government and public service occupations, serving and volunteering on
boards. If you have a business or you can help you get there. Okay, this one, I clicked on 7 in
demand jobs you can get with a business degree. So, I'm wondering why aren't they talking about
7 businesses you can start with a business degree? That's what I was expecting. Okay, you
can become a business analyst for a company. You can become an account manager a financial analyst.
A marketing manager, project manager, sales manager. So, you go to business school and you
can become a manager. I don't understand number 7 here, a sales representative. You don't need
any degree to become a sales representative. I love sales. Sales is is a way that you can start
making a lot more money than typical employee jobs without any type of a degree. Most people
with business degrees put up their noses to being a sales representative. Okay. This is the last
link. The 19 highest paying business degree jobs. Okay. So, it's focused again on jobs. Let's see.
Advertising sales agent, insurance, an insurance agent with a business degree. Real estate broker.
Okay, you don't need a business degree for that one. Marketing manager, financial manager,
sales manager. Alright, I'm already irritated by this website but I think you get the point.
Alright. Let me break the news to you. You can start a business without a business degree.
Right? I think we all know that or understand that. Starting a business has nothing to do with a
business degree, actually. Okay. So, I think we've got our bases covered there. Let's move on. Okay.
Now, we're going to dive into the pros of entrepreneurship followed by the cons of
entrepreneurship, okay? So, what are the pros for entrepreneurship? You can make a lot more
money as a business owner than an employee. I mean, that's a huge one and that's what
usually drives people to not be an employee but to either be self-employed or to be a business owner.
Another big one is freedom, right? You really get to control your schedule. You can really create
the company of your dreams. You have the freedom to do whatever you want. As a business owner,
you really get to express a lot of creativity and innovation, right? Instead of being stuck in your
lane or working in your cubicle. You get to be the creator. You've probably heard the phrase working
on your business instead of in your business, right? That's where the creativity comes in. You
get to create the systems. You can even hire other creators as a part of your team and you have the
final say. You have this freedom the creativity and innovation. Alright. So, I think I mentioned
control but like you really get to steer. You get to drive the company. And when big decisions come
up, you are the decision-maker. Now, let's talk about time, right? You get a control
how you spend your time versus when you're in a job they say, "You need to be here at this time.
This is how long you can take for a lunch break. This is when you can go home. You
need to be here this many days per week. If you need time off, this is the procedure you follow."
So, you don't control that. They control that. Your boss controls that. So, when you own your
own company, when you're your own boss, you get to choose all that. If you wanted to take a nap in
the middle of the day that's 2 hours long or like many entrepreneurs do. You decide, "I want to work
16 hour days." You have the choice to do that too. Okay, another huge pro of entrepreneurship that
a lot of people don't think about but is kind of obvious, you learn a ton, right? We experiment. We
try. We take risks. We make tons of mistakes and we learn. Any entrepreneur that's successful has
made tons of mistakes but not given up. They've continued over and over to learn and to try
new things to pivot. I mean, my first 4 years of starting my company, I definitely learned way more
than I did in my 4-year degree. I'm not saying I don't value my my college education. But as far as
practical knowledge or applicable knowledge, knowledge that will actually translate into
a valuable business that I have... I haven't learned as much academic knowledge,
book knowledge. You know, memorize facts or things like that. But the knowledge that I've gained as
an entrepreneur is far more valuable than the knowledge that I gained at university. Okay,
I love this next one. You can contribute and make the world a better place. Okay? You get to provide
services or even provide livelihoods for families, right? You provide your own
livelihood. But the people that you hire and work with whether employees or independent contractors,
you're helping them with their livelihood. The more financial resources you have, the more
that you can give to charities or help out where needed. The thing that I love about innovation
is you can make things more efficient. You can make things available for people that didn't
exist before. I mean, in my case, I love taking something that's only available to huge companies.
And innovating it, working on efficiency and making it so that small business owners can
succeed. And in fact, thrive with... That's what I did with web design. That's what I did with SEO.
And that's what I've done with my YouTube production service. Okay, another advantage
to entrepreneurship is you can really grow in your influence. Okay, I believe that influence
is noble. I believe that God is the master of influence and if my mission is to become more
like God, I want to learn to influence like he does. So, it kind of goes back to what uncle ben
told spider-man, "With great power comes great responsibility", okay? I take that
very seriously. I really believe that and I've taken that to heart. as you succeed in business,
you gain more and more influence. And by using that influence in the right way, you can
really impact the world in drastic ways. Another advantage of entrepreneurship if you do it right,
you won't need to retire. You won't want to quit what you're doing. You'll keep doing what you're
doing as long as you can until the day you die. Oh! And let me give you a technical advantage,
right? There's a lot of tax advantages, right? There are business expenses that you get to
write off your taxes. So, talk to your accountant about those things. But that's a huge advantage
of being an entrepreneur versus being an employee. I mean, when I buy a Macbook for my business,
that is a business expense. Alright, there are some cons to entrepreneurship. There are
a lot of pros but there's definitely some cons. The first one I want to talk about
is risk. It's risky. You don't have a guaranteed paycheck. You don't know if you're going to make
a sale or not. You've never done it before. Some of the decisions you make might not work. So,
I don't (at all) like to take speculative risk. If I'm just playing the lottery or something
like that, that's not risk that I'm willing to take. But calculated risk where it's like, "Yeah,
there's a chance of failure but I understand what my risks are and if I do fail then I have a plan
B." Those are risks that I can take all day long because the reward is so great. Okay, another con
or disadvantage of entrepreneurship is there's no benefits, okay? There's no company that you're
a part of that's going to give you the 401(k) or give you the insurance or give you the pay raises
or stuff like that. There's just, there's none of that. You are the boss. You're the business
owner. You have to give those things to yourself. Okay, another con is that you wear all the hats,
right? So, if you want to start a restaurant because you've got a passion for food, you've got
a great idea, not only do you have to be the cook, you have to be the waiter or the waitress, you've
got to be the accountant, you've got to be the custodian. I mean, the list goes on and on and on
all these different hats that you wear. Okay. Now, there is a difference between being self-employed
and being a business owner. Because a business owner starts to take some of those hats off
and give them to other people. That's when you can really have success as an entrepreneur but
know that in the beginning, you are wearing all of the hats, okay? Another disadvantage
or a con of entrepreneurship is you're going to get a lot of criticism. The first 8 years
of my business were definitely a financial rollercoaster. I mean, there were times
where I'd been at this for so long and yet I hit another low. And I went to my mom and I asked
for money. She provided me some help but she said, "Nate, why don't you just get a job?" And it like,
"Oh, it stings so bad to hear that." And I heard stuff like that to many other places as well. And
man, that criticism is really really hard. They just don't get it. They don't understand
what I'm doing. They don't understand what i've learned. They don't see what I see. Another con
is that you will fail a lot. Okay, if you go down the path of entrepreneurship,
you're not going to make correct choices all the time. In fact, majority of the time,
you're going to make the wrong choice and you're going to make a ton of mistakes, okay? If you're a
good entrepreneur, you're going to learn. You're going to pivot, you're going to make changes,
you're going to gain wisdom every time you make a mistake. I mean, that's the blessing
actually of entrepreneurship. But just know as an entrepreneur, if you go down this path,
you're going to make tons of mistakes and you just got to be okay with that.
Okay... And a big con to entrepreneurship in the early days is you're going to be putting
in long hours. Really long hours. I mean, all those hats to get all those jobs done,
you're going to be putting in long, long hours. For me, I take Sundays off. Well, Monday through
Saturday I'm putting in like 16 hours a day. Okay, not anymore. But man, I certainly used
to. I would wake up and I would work. I would be work, work, work and finally until I fall asleep.
That is no fun. That is no fun and I'm so glad I'm past that stage because that is definitely a con
of entrepreneurship. Now, I am an expert at getting YouTube videos ranked number 1 on
YouTube on day 1. And I want to teach you how to do that. So, the video that you should watch
next right here is How to Find Low Competition Keywords on YouTube. We'll see over there.