If you want to be an entrepreneur, school is a waste of time.
School is a system that many parents force onto their children. Most students enroll in school to please their parents, finish in around 4 years, and owe an average of $50,000 in debt. During school, most entrepreneurial students are bored out of their minds and squander most of their time until graduation.
When they graduate from their respective 'business school', they lack the basic skills in business: Sales, Marketing, Time-Management, Negotiation, Decision-Making, Goal-Setting, Money Management, and many others. When they go to apply for jobs, they settle for random positions in firms that rarely utilize their talents.
To me, my college degree is not even a 'back-up' plan. In fact, it's worthless. No one has ever asked me if I had a college degree. Please understand, I had a great college experience, but my brand already educates more people than they ever will about success. Moreover, college produces followers (employees) instead of leaders (entrepreneurs).
Here are 7 Reasons Entrepreneurs Should NEVER Go to School:
1. Middle-Class Trap: If you want to fit into the mold of society, go to school. If you want to stand out and create your own lifestyle, skip class. There are tons of opportunities out there for those who want to make millions in business, but you must not succumb to the pressures of school. You must seek more than a college education if you want to succeed.
School prepares the entrepreneur for the job they don't even want. In fact, 'job' stands for "Just Over Broke." If you want to own a business, you shouldn't go to school. Your $50,000 college degree will get you a $50,000 per year job. (which doesn't make sense, or dollars) . If you want that, then go to school. However, don't expect to be a young millionaire if you're peddling a job.
2. You Only Go to School to Read Books: Besides socializing, the only purpose of college is to read books. That's right, your professors demand thousands of dollars of textbooks, then floats over the lessons with you to see if you were paying attention. They give you homework to hold you accountable, then grade you according to your performance on these false assignments.
Remember: Your parents don't know that you want to become a millionaire entrepreneur, so don't listen to them about going to school. They just want you to 'play it safe' and be slightly better than them. If you want to start a business, find successful people and emulate their strategies. Don't throw $50,000 into reading books for 4 years. You can read in your own comfort as you get rich!
"Never let school interfere with your education." -Mark Twain
3. Your Professors Aren't Entrepreneurs: Most professors are scared of the real world. They stay in school while avoiding the workforce until they're qualified to be a professor. Once they get out, they wield their heavy textbooks and pretend to know what business is all about. They get a great salary telling students about business by presenting hypothetical situations that the students will never face in the real world.
These same professors aren't millionaires either. In fact, the majority of them are concerned about job security (aka: Tenure), which is the opposite of entrepreneurship! They recycle their lectures every semester and know very little about business ventures. When you ask them a serious business question, they either do three things: make up an answer, ask you what you think, or get other students involved. Look for real entrepreneurs instead!
4. Slow Growth: Most people are taught to work for small raises. School taught them that if they do 'extra credit' (volunteer or overtime work), they'll get 'bonus points' (small promotions). While the average employee is doing this, they lose valuable time with their families and lack energy when it's time to do fun projects.
Even more, these conventional thinkers are taught to prepare for small increase in wages. These minimal increments consist of portion-sized wages that their friends tell them to be 'thankful' for. When they start looking for other opportunities, they can't check if the grass is 'greener on the other side' because their employers have withheld them from exploring their natural entrepreneurial skills!
5. It Takes Too Long: A while ago, a very conceited woman derisively told me that she was getting a Ph.D in entrepreneurship. After I asked her how long it would take, she sneered, "4 more years." Ultimately, this means she would have started her business when she was age 28. Instead, I convinced her to quit school at 24, She became a millionaire at age 28.
If you think about it, the average 4-year program slows down the ambitious youth. They end up resorting to distractions and creating excuses for themselves as they 'wait' for success. The majority of these ambitious students could be building a business in the process and profiting everyone along the way before their intended graduation. Success can't wait!
6. Massive Debt: I often laugh when I hear people saying that they're afraid of starting their business on a credit card, but willingly pay their $50,000 college loans. Some graduates won't even buy a $500 suit on a credit card, but will gladly rush to pay off $2,000 per month on their loans! Unfortunately, they've been taught to invest in their debts instead of themselves.
For instance, one man told me he's still paying off his $300,000 loan and he's in his mid-forties! In the last 20 years, he's only made a $20,000 increase in salary. With this pace, he won't be done paying off his debt until he's in his fifties! Even though he wants to start his own business, he believes that he has to be completely debt-free before he does. In other words, he lets his college debt tell him what to do.
Most people invest in their debts more than they invest in themselves.
7. Entrepreneurs Run the World: 90% of employees are directed by 10% of entrepreneurs. Without entrepreneurs, no products or services would exist. There would be no computer, no shoes, no cars, nothing. Everything worthwhile is created by entrepreneurs who took the time to develop their ideas. Thus, if you have an important idea, step up and become an entrepreneur.
Running a business is easy if you know exactly what to do. There are tons of successful entrepreneurs who will take the time to help you succeed in your respective industry. If you want to learn more about the differences of entrepreneurs and employees, I wrote this amazing article a while ago. Entrepreneurs run the world. After all, they've also created schools too!
The alternative to going to school is to educate yourself. Don't leave your education in the hands of college professors with little to no business experience. Read 50 books per year, attend one conference every month and hire a business coach. By the time your peers are getting out of college, you'll be able to hire them as you become a millionaire in the process!
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