Five reasons why professional college degree won’t help when it comes to entrepreneurship and what kind of education it takes to succeed.
”universities will not survive; future is outside of the traditional classroom.” – Peter Drucker (from the essential Drucker)
People these days are pursuing college education like it is some kind of a ceremony. People often think that the college will help them succeed. Obviously they are totally wrong here. I think that a decent college degree can help people to get a job and get their kitchen running.
But those times are slowly fading. I’m an entrepreneur and I want to hire talent NOT a degree. If I wouldn’t have dropped out of college, I won’t be able to pursue what I love and might end on a 9 to 8 job doing something I hate.
Listen, when it comes to choosing a career, we have to make some hard decisions. We have to believe that things will go right. We have to make things happen rather than expect them to go right.
Dropping out of college was one of the best decisions I’ve ever made. Here are my top five reasons why college education won’t help us.
[dropcap1 color=”black”]1[/dropcap1] ONLY You Can Decide Your Destiny
You can choose to create a moment that I’m going to create the best damn product ever or you can choose to waste your time waiting for the RIGHT time to arrive. Believe me I’ve tried that, there is no such thing as “the right time.” The moment you give yourself an ignition is the only right time.
You cannot let anyone else decide your passion, other people won’t live your passion. Only you can live your passion and enjoy doing the things that you love.
You Can Provide Yourself Highest Quality of Education
You maybe the post graduate from the best university in the world but you still have to take consistent action and learn to utilize your experience in an order to succeed. This one is huge. No matter who you are, you have to understand your market and people. I’ve invested a lot of money in my education buying and going through business seminars and personal development courses and they helped me with my business. Especially Jay Abraham’s stuff. It all cost me much lower than college tuition fee.
And yes, college education is pricey. Many people cannot afford it and this is increasing the student loan debt.
It is also a fact that 80% of the people who apply for college cannot make it to the graduation and drop out in the middle, which leaves them in student loan debt.
You Cannot Succeed in the Past
Innovation is the seed of success. You can make an amazon clone, an apple clone or a Google clone because you obviously you won’t succeed. Why? Well because you ain’t doing anything new.
You are doing something that worked in the past. If you’ll see the list of successful startups then you’ll notice that almost all of them had something new. A new idea, new strategy and a new culture that they created out of thin air.
This is a common mistake entrepreneurs make and I blame the education system. We’re not taught to think and innovate. I don’t think it can be taught. We have to follow our passion without any friction or barriers to come up with something new and cool.
The stuff they taught in colleges is old and teachers have no business experience. The best way to learn business is by doing it and learning from the failure.
Most of the Pioneers Don’t Have a College Degree
Most of the people who innovate, have to drop out in an order to work on it. If they haven’t dropped out then probably they haven’t been able to make it.
Here is the list of “New” people who changed our world:
- Steve Jobs
- Henry Ford
- Mark Zuckerberg
- Bill Gates
- Richard Branson
- Paul Allen
- Michael Dell
- Larry Ellison
- David Geffen
- Stanley Ho
- Mike Hudack
- David Kamen
- David Karp
- Kirk Kerkorian
- Kevin Rose
- YC Yang
- Thomas Edison
- Albert Einstein
- Tiger Woods
- many many more…
Here are some more: collegedropoutshalloffame.com
Education is More Important, But Which One?
“Formal education will make you a living; self-education will make you a fortune.” – Jim Rohn
This is so true, if you know how things work, if you have have a persuasive mindset about how things work and if you got that charge, then you will turn your failures into your strengths and you’ll rise like Jesus Christ. (Good example, isn’t it?)
Your mindset about how you process and perceive information is the key and this is what makes it happen. This is what makes a genius entrepreneur.
Igniter Tip: Business is HARD and Entrepreneurship is a Crazy Idea
This is what every entrepreneur should think of. It is NOT easy. Most people who start up in business comes up with reasons like they will have more time, more freedom and money.
It doesn’t work that way. Business takes money, time, stress and it tests your patience.
Think about it: Here are some Stats from Chet Holmes blog:
95% of businesses will never reach even $1 million in yearly sales. If you’ve done that, you are in the top 5% of entrepreneurs and you are rare and to be applauded.
For those of you who get that far, the remaining 95% won’t ever make it to $5 million. And of those who get that far, 98% won’t get to $10 million.
Very, very few go from there to $100 million and beyond.
Successful entrepreneurs are crazy with what they do. You got to be crazy with your passion. You got to have that vision thing about your market and become consistent in adding value.
If you’ll try to do what you don’t like and aren’t passionate about it, or if you’re doing something just to impress someone. Then trust me, its going to be pretty darn hard.
Think about it. What gets you going? What keeps you moving forward and preventing you from giving up?
Dropping out is a sad phenomenon….but turning that into a multi-million dollar business is a very amazing phenomenon. It’s often heard that formal education is the death of human creativity.
Excellence comes from within, and not from textual knowledge.