In today’s world, many people believe that a college education is the key to success. But one entrepreneur is here to challenge that notion. Krista Farney, owner of Floor Coverings International, shared her story of becoming a successful business owner without higher education on a recent episode of “The Big Money Show.”
A Family Legacy
Farney’s journey into entrepreneurship started at a young age. She credits her mother, who was a serial entrepreneur in the 80s, for inspiring her. Watching her mom sell clothes, kitchen machines, and Tupperware, Farney developed a passion for business early on.
Learning on the Job
After high school, Farney dove into the workforce, gaining valuable skills through various small businesses. She learned how to use tools like QuickBooks, handle customer orders, and interact with the public. Her experience in the cellular industry also provided her with hands-on knowledge.
The Road to Entrepreneurship
With a solid foundation of practical skills, Farney decided to pursue her dream of starting her own business. She was determined to succeed without a college degree.
The Cost of College
One of the main factors that motivated Farney to forge her own path was the high cost of college. According to the Education Data Initiative, the average annual cost of attending college is ,436, with a 2% annual growth rate over the past decade. This financial burden can be overwhelming for many individuals.
The Toll of Student Loan Forgiveness
When asked about the topic of student loan forgiveness, Farney expressed concerns about its impact on small businesses. She pointed out that forgiving these loans ultimately falls on the shoulders of either existing small businesses or taxpayers across the country. This, in turn, makes it more challenging for entrepreneurs like herself to secure loans for their own businesses.
The Challenges of Entrepreneurship
Running a business is no easy task, and Farney knows this all too well. She highlighted the difficulties that come with owning your own company, such as taxes and other underlying responsibilities. Despite these challenges, Farney emphasized the rewards of entrepreneurship and the fulfillment it brings.
A Call for Support
Farney believes that more support should be provided to aspiring entrepreneurs. She called for measures to simplify the process of starting and running a business, making it more accessible to individuals who are willing to take the leap. Farney firmly believes that the benefits of owning your own business far outweigh the challenges.
So, is college necessary for success? According to Krista Farney, the answer is no. Her inspiring journey proves that with determination, practical skills, and a passion for entrepreneurship, anyone can achieve their dreams without a college degree.
