How People Got Rich Without College

How to get rich without a college degree 

There are two main paths to success without a college degree: starting a business and upskilling. These routes can help you gain wealth and further your entrepreneurial dreams.

Become a business owner.

You don’t have to know every business aspect to start your journey. Sometimes, you learn as you go. For example, Joy Gendusa, founder and CEO of PostcardMania, dropped out of high school when she was 17 and began a design and print broker firm. While trying to promote the business, she created the concept of PostcardMania, a marketing company specializing in lead generation for small businesses.

When Gendusa took the leap to create PostcardMania, it wasn’t easy. Initially, she could pay herself only $40,000 annually to support herself and her two boys. In time, she made a bold decision: to double her marketing budget. The following year, the company increased its revenue from $750,000 to $1.35 million. After that, revenue doubled yearly until 2003, reaching more than $10 million.

“I had a credit card with a $5,000 limit on it, quickly maxed that out and then basically grew on the backs of my amazing vendors,” Gendusa told us. “Net 30? More like net 200. But we always paid, eventually. The key was staying in really good communication with them so they kept servicing us.”

Profitable startup ideas

• Online reselling: The reseller world is diverse and exciting. Whether you enjoy hunting down antiques or finding the best deal online, you can begin your reselling business without much money or inventory. Choose a niche you like and know about to serve your target market best.
• Cleaning service: Whether you provide a cleaning service for individuals or businesses, you can scale your clientele quickly. You can minimize startup costs, set your own hours and hire help as your business scales.
• Pet sitting: People love their pets. Each pet owner typically spends a few hundred dollars a year on pet sitting. Depending on your living situation, you could begin your business in your home and expand to a permanent location. Pet owners always look for a reliable sitter; word-of-mouth marketing can save you significant marketing costs.
• Consulting: Are you looking to have a better work-life balance? Becoming a consultant in a niche you know about can provide a valuable service to individuals and other businesses looking to advance.
• App development: A tech-forward app is essential for companies that want to maintain a competitive advantage in the marketplace. Developing app functions, providing a valued service or creating a new game idea can help you build a competitive experience portfolio. 
• Vacation rentals: Investing in desirable real estate can help you build wealth while learning to excel in hospitality and customer service.
• Virtual services: Companies are consistently looking for reliable virtual assistants and other remote support. Offer your services and increase rates when you gain experience and skills.

Be a lifelong learner by upskilling.

Another way to build wealth without a college degree is upskilling. Here are some ways to upskill:

• Seek out online courses that correspond to your niche.
• Apply for an internship.
• Go to a trade school.
• Read bestselling books on the topics you want to learn more about. 

Once you increase your knowledge, you can use it to provide value and get paid. For example, Katherine Huang, a former engineer at Uber and founder of Inkvest, established her career without a degree through networking and coding. After she dropped out of Yale during her junior year, Huang supported herself by freelancing and tutoring while she learned coding through free online resources. She started working on small data set analysis projects and soon began freelancing for data science at Twitter during the company’s infancy.

Huang’s network and skill set expanded and she later joined Uber as an early employee. She began working on the Uber surge feature and eventually became part of the founding team for Uber Eats. Currently, at 30, she is looking at a seven-figure payout from her stock.

Profitable industries to leverage upskilling

• Stock trading: Once you learn the stock market basics, you can recognize trends and patterns. The more you analyze data, the more you can make better decisions, not trade impulsively and create long-term strategies. Upskill online using training and certification programs.
• Sales: Being at the top of your sales game benefits you and your company. Find a mentor who can critique your selling techniques and attend training to improve your weaker areas.
• Marketing and data: Companies are always looking for the next big idea. If you love to make content and research the latest trends, you can upskill in marketing and combine it with other skills like writing and design for an all-in-one package.
• Artificial Intelligence (AI): There are several facets of AI. You can start with an internship or junior position, which includes data analysis, machine learning, research and support.
• Cybersecurity: Entry-level cybersecurity positions require minimal training. Getting in at ground level can help you gain experience for higher-level roles.
• Sustainability: Wind and solar energy maintenance jobs often provide free upskilling and job security. Understanding best sustainability practices can help businesses stay in compliance and remain authentic.
• Design: Upskilling in design can be an excellent creative outlet, whether you create graphics for social media or source a home decor refresh.

Industries that don’t require a college degree

While many industries, such as medicine and law, require a college education, others do not. Entrepreneurship is perhaps the most obvious route to success as you don’t need a degree to own a business. However, you can also get hired in certain industries, such as these:

• Trades, such as power plant operators, power dispatchers and maintenance repair
• Creative industries, such as art and fashion
• Massage therapy
• Local police and fire departments
• Sustainable energy 
• Marketing and advertising
• Writing and coding
• Commercial piloting
• Engineering
• Tech startups
• Real estate
• Sales

These industries may not require a college degree but that doesn’t mean they don’t require education. You should be knowledgeable about the field you want to work in and ready to learn even more.

According to Gendusa, formal college education often has little to do with employee performance. “What matters is if someone has a willingness to do a job well and the ability to learn how to get to that point,” she said. “You can basically learn about and study any subject online these days.”

Advice for those who can’t or don’t want to attend college 

Remember that formal education and success are not always synonymous. Becoming a dropout doesn’t always lead to failure. The route you take should be what is best for you. Here is some advice to get you started.

Take an alternative path by investing in yourself.

According to Jorge Cevallos, CEO and co-founder of Media Jet Marketing, taking full responsibility for your actions is crucial. Regardless of whether you have a college degree, you still need to perfect standard business skills such as these:

• Listening to people, such as mentors, employees, vendors and customers
• Life-long learning as your industry evolves
• Investing in yourself (upskill) and your business, such as technology, software and smart hiring

“In my opinion, college is an amazing tool to network, build work ethic and have the tools to learn at your fingertips,” Cevallos said. “That being said, if you are able to build those traits and have the discipline to search for information and have a system to get to where you want to be, I believe there are no limits.”

Seek out startups that hire applicants with nontraditional resumes.

Huang explained why seeking out companies in their infancy might work for individuals without college degrees. “The smaller and newer a company, the more open they are to hiring people who don’t have conventional backgrounds,” she said. “The hiring standards may change as a company matures and becomes more bureaucratic. For example, at Google and Facebook, HR [human resources] screens for undergraduate degrees.”

Overall, business.com heard from a dozen professionals who found success without earning a college degree. While they ended up in different places professionally, their paths to success were often similar.

Of those we spoke with, the average dropout age was between 19 and 20. While most attended college for about a year before dropping out, some didn’t even finish high school. Each had little or no financial assistance and funded their endeavors primarily on their own. Many either launched their own companies or started at ground zero with companies that eventually became successful.

Employ hard work and self-discipline to be successful.

Along those same lines, Gendusa emphasized the importance of hustling. When she started PostcardMania, she focused on working hard, even if that meant 15 hours a day, seven days a week. Her dedication eventually gave her a stable career and a great work-life balance.

“Be ready to make sacrifices and go for it,” she said. “Do your research, read up on others and what they did, read blogs and books and anything you can get your hands on and be frugal. … There are so many resources available that people can [use to] get ahead … if they really commit to the hustle.”

If you want to start your own business, Cevallos said, it is essential to take the following steps: 

• Create an idea.
• Back it with knowledge in the field.
• Assemble the right team.
• Use your connections to make it happen. 

According to the experts, becoming wealthy and successful is possible only if you continue to learn and improve. College can help you with your career, but your own drive is what ultimately determines your level of success.

Skye Schooley contributed to this article. Some source interviews were conducted for a previous version of this article.