Is College Worth It For Entrepreneurs?
There’s no law saying you have to go to college to start a business.
There’s also a carrot and a stick that might lead entrepreneurial minded members of Generation Y to want to skip college. The stick is that hiring prospects might be grimmer than they thought.
The carrot? All the examples of wildly successful entrepreneurs who dropped out of college and went on to make big bucks. Current young adults have grown up hearing about Bill Gates as the paragon of success. Why not try to follow in his footsteps?
1) Study entrepreneurship while developing an outside niche. Tina Seelig, executive director of the Stanford Technology Ventures Program at Stanford University, says that while successful company builders have a natural inclination to be entrepreneurs, sometimes it takes education to bring that inclination to full bloom.
2) Expose yourself to as many different courses and experiences as possible. What if you don’t go to a school that lets you study entrepreneurship directly? Seelig says she would advise trying to get as exposed to lots of different disciplines. Having broad knowledge can make it easier to identify opportunities as an entrepreneur.
3) Consider even more education. Depending on your field of interest, going on to graduate school can help a lot. Litan says that the stakes are now higher for tech startups because the world of technology has grown so much more complicated and expansive.
Photo by marygober.
Angela on July 9th, 2008 1:03 pm
I think furthering your education is always worth it. The knowledge gained is the best benefit of all. Those are some good reasons you’ve listed.
Another thing that might win someone over to furthering their education is the opportunity to take courses from home.
Home job site on July 9th, 2008 3:49 pm
Hnads on training and practical experience have always worked best for me. I think too many people rely on other peoples ideas!
etavitom on July 9th, 2008 5:14 pm
no, although i loved college.
Jim on July 9th, 2008 9:10 pm
Some people say entrepreneurs are BORN. While others say entrepreneurs are MADE.
I think entrepreneurs are both BORN and MADE. By born, I mean they have natural talents and gifts to do business and they are successfully in whatever businesses they ventured. By made, I mean they go through some formal education, whether specifically Entrepreneurship courses or generally business and marketing courses.
However, in my view, whether they are born or made, is NOT an automatic one-way ticket to a successful business. For example, if they are born, even though they are talented, if they do not MAKE USE of their talents or are not interested in setting-up a business for whatever reasons, then what’s the point of saying they are entrepreneurs in the first place?
Likewise, for those who have gone through a formal education in entrepreneurship DO NOT mean their businesses will be a success one.
I think we need a combination of both BORN and MADE entrepreneurs for successful business!
cassy on July 11th, 2008 3:58 am
I have known many people here in our place that are successful in business, even if they dont have proper schooling. Determination and hard work are there key to success.
Alexis on July 16th, 2008 9:01 am
Education comes in many forms. The aforementioned Tina Seelig, for example, recorded a podcast “What I Wish I Knew When I Was 20″ for the Stanford Technology Ventures Program. Listening to that series is like getting a free MBA. Another form of education is business coaching. For less than the price of a degree, entrepreneurs who opt to dive right in, can learn what they need to know to make their business successful. There’s nothing wrong with a degree; multimillionaire Brad Sugars has a bachelor’s in accounting. I put it this way: being educated probably never STOPPED anyone from getting rich.
Acsmo on July 16th, 2008 9:13 am
One thing I’d want to add is that, without education you don’t know what you don’t know. It really helps to have someone to point out how to close the gaps between where you are and where you want to be in business. At ActionCOACH Business Coaching, coaches do just that to entrepreneurs – some with college degrees and without – get their business systematized to the point that they can actually be proud of owning a business that can run without them, instead of just having a job.
Jim on July 16th, 2008 8:30 pm
One thing I would like to add further, business coaching is a form of training, NOT education. Education covers a broad area of interests whereas, training, or rather business coaching is a narrow development and assimilation of knowledge, skills and attitudes in order to acquire the abilities to achieve a particular objective.
Yes, an entrepreneur don’t need a degree to attend a business coaching and yes, not all who are rich are entrepreneurs!
большая четверка on July 17th, 2008 2:58 pm
I have known many people here in our place that are successful in business, even if they dont have proper schooling. Determination and hard work are there key to success.
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