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what major in business is for me?
jetblack3s
77 replies20 threads Junior Member
hi everyone! first, here is a little about myself to help you to help me: i am going to be a sophomore in my JC starting this fall and i'm still not sure what i want to major in. I really like to run my own business or have my own company instead of getting a job and help other people to make their money. my goal to go to college is to learn the knowledge necessary to operate my own business in the future. I'm not sure what business i want to get in nor what major will suit me best. i don't mind doing double majors, but i want to start off with the right ones. my sister was majored in accounting and she said that i'll be benefit a lot from that major. in this case, what major should i be in? also some recommendation of business school in Cali would be nice... thankx
10 repliesPost edited by jetblack3s on
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Replies to: what major in business is for me?
I would certainly take a class, but I don't think a major is necessary or provides much value over most management programs. I would look at schools with good business schools, extracurriculars (networking, networking, networking) and a supportive environment (alumni, entrepreneurship funds, student-run campus businesses).
But realize that the points made by others on this board are very valid--that is that it helps to have at least some business experience working for a company before starting your own. Still, you don't want to wait too long to start your own company, because it is easy to get comfortable in a career--and then not do your own business.
I started my own business--but only after working for others for 25 years. In hindsight, I wished I had started a business of my own much sooner--because I think I would have had more initiative and could have been a lot more successful if I had done this about 10 years earlier. As it was, I still made a very decent living (made about $175K per year while running my own business for about 5 years), but now I'm back working in a regular job for about 4 years--but one that still allows me to travel the globe on a regular basis.
I've known people that started their own business and were broke in 6 months and I've known people that started their own business and were making $75,000 per day profit (no kidding) within 9 months of starting it up (I actually worked for this guy over 30 years ago while still in college--I was only 20 when I graduated from college). Since I know you may not believe this, let me tell you about this company (see below) Both of these people had really good ideas, but the difference was that the second person had the necessary business experience to know how to make the business successful.
Here's the guy I worked for (30+ years ago): There were two guys, Louis Carabini and a doctor (I forget his name) who put in $5,000 each to start a firm that would sell American silver coins (prior to 1964 all quarters minted were made of 100% silver, after that (and now) they were copper clad with silver exteriors). Since America was still on the gold standard until 1973, you couldn't sell gold bullion, but you could sell gold coins, which they did (Mexican 50 pesos, Austrian Kronas, American Liberty $20 dollar pieces, etc). Anyway, they sold these as investments. Their sales went from $10,000 per week to $50,000 per day in 1972, which is when I started working there (while a sophomore in college). By 1974, they were selling $9 million a day and the price of gold had gone from $32/ounce to $800 an ounce (it later went back to $400 an ounce by 1975). Anyway, they made 4% on the sale (investment in), and then 4% out (investment out). Thus, they were making $360,000 gross--and $150,000 net--or $75,000 each per day (and remember this was 30+ years ago--so $75,000 then is worth a lot more now).
The market slowed down, of course, and the firm changed their name (from Pacific Coast Coin Exchange, it's now Monex International), but the firm is still in existence--and located in Newport Beach today.
P.S. Now that people know I'm in my lower 50s, people will probably never listen to anything I say anymore (and maybe they shouldn't.) ;-)
On a personal note, howver, I beleive entrepreneuship is definately not something that you need to learn is a college. Its something you need to experience during or after college.
Seriously though..it's common sense. If YOU want to start your own business, you will need work experience and you need to start somewhere. Do you even know what your "business" will be? You need an outline.