Not going to college is now a very viable option. College is overrated anyway. A lot of people go to college looking for an education when in fact, college is not the best education for entrepreneurs. Just ask Richard Branson, Pete Cashmore, Seth Godin, the list goes on and on.
So let me ask you this: Are you really going to waste time in an institution that’s not known to produce world-class entrepreneurs? In addition, college is expensive. Are you really going to waste money when you’re better off investing in a business venture or even stocks?
I Don’t Have Student Loans to Pay
I know the importance of building credit and equity, but getting a loan for school is not a viable option to do so. Not going to college was the best decision I’ve ever made when it comes to my finances. As I’ve mentioned, college is too expensive, and a lot of my friends from high school are up to their neck in student loans, struggling to pay them off years after they’ve graduated.
Me? I used what I had back then for my startup and I took advantage of self education. Living in the real world right off the bat – delivering pizza and starting a business. Even though that first business failed, so did the next one and the next one after that. But I didn’t let it discourage me, though.
The opportunity for scholarships and having my parents pay for college was non existent. So, what was I suppose to do? My only option was to take a massive amount of debt and in all likelihood be incapable of paying it off.
It was a bold decision to take the less ‘traditional route to success’. But, I was a startup incubator preparing for the trials, emotions and satisfaction of entrepreneurship.
I was Able to Learn a Lot
A lot of people go to college to learn. Sure, they’re quick to rattle off business theories, but they never got the chance to apply them. In reality, they never learned anything. Well, at least anything that can help them in real life.
Through the course of my businesses, I learned a lot. I had a lot of failures that taught me valuable and priceless lessons. Lessons that business school is not able to teach. Success and failure are good teachers when it comes to business. Sure, college professors are good enough to teach you theories that you can learn on your own in your own free time. But tell me, how many of them have successful business ventures?
Here’s another bad thing – what some classes teach you in college is outdated. College professors frown upon research taken from the Internet because they say it’s not proven information. True, you can’t believe everything you read on the internet. But in reality, the information found online simply is updated and a lot of it is written profoundly by professionals. College curriculums just haven’t caught up to the information age; they’re still providing information built for the industrial age.
When I started my business, I didn’t have a business plan based on theoretical models. Real entrepreneurs don’t write business plans. I had a vision based on common sense, enthusiasm, and things that I learned on my own through trail and error. I tried new things, continued with the ones that work and improved the ones that didn’t. I’m sure I’m not alone when I say this – one year as an entrepreneur taught me way more than four years in college would have taught me. And it didn’t cost me an arm and a leg.
College is a great example of an oxymoron. You go to improve your future, whilst being left with the burden of paying off student loans afterward and hindering your personal cash flow. Let alone, you’re not guaranteed to find a job in your respective field. Tell me, how is that improving your future? School is not the best education for entrepreneurs, period.
Not going to college was one of the best things that I did as far as my education is concerned. I would be pissed off if I spent all that money on education that I can’t use now. If I’m forced to pay for higher education, at least make it so I can use it in the real world. How many classes have you taken in college that helped you with your real life financial situations? If you took student loans, you already made the first mistake of getting into bad debt.
I Don’t Need a Degree and/or an MBA to Succeed
Here’s one of the worst things about degree and MBA holders in general – they feel entitled. I’ve encountered a lot of them. They approach me with business ideas and they start by introducing themselves, and saying that they have a degree and/or an MBA from this college and they had to kiss this much butt to get it. What, am I supposed to roll out the red carpet and kiss the ground you walk on? I don’t think so, pal.
Yes, having an MBA may mean that you’re smart, but that means squat if you’re not a successful entrepreneur. If you introduce yourself as the founder of a very successful startup, let me grab a chair and let’s talk. Well, that’s how welcome I feel when I approach other business owners. They don’t care that I didn’t go to college because what do book smarts prove anyway? Does a textbook have the secret formula for running a successful business? Nope. And I guarantee that you can learn just as much, if not more, from reading books written by successful entrepreneurs.
Time is of the Essence
Do you have a business idea right now that you’re sure will be a success? The question is – are you willing to risk putting this idea on a shelf just so you can go to college? Why is it a risk? Well, there are entrepreneurs that are learning a lot of things and already have the business mindset, and sooner or later, they’d think of your idea and they’ll launch it as their own. It can grow to a multi-million idea, and you’ll be stuck in college worrying about test grades.
Not Going to College is a Good Alternative for the Right People
The rules of business are quite clear – earn more than you spend. I know it’s easier said than done, but so is paying off student loans. Business minded people don’t waste time. They know the risks involved and they make sacrifices to go after their dreams and achieve financial security – not job security. If you don’t have the ambition to become a doctor, a dentist, a lawyer, a veterinarian, a pharmacist, or engineer then college may not be the right choice for you. We’re blessed to have the resources at hand to help us succeed that we didn’t have 5 years ago. You just need adamant ambition and an open mind to believe that paying for college doesn’t guarantee success.
If you’re destined for success as an entrepreneur because of your skills, knowledge, passion and focus, you’re better off taking action and starting your damn business already. This can help you get educated the right way to live a prosperous, debt free life.
About the Author: This article is written by Kolton Green co-founder and CEO of Financial Money Tips. We specialize helping aspiring entrepreneurs and investors gain education through self education. With in-house professional writers to provide unique opinion and advice, we are confident we can improve your business and personal finance endeavors. Please give us a follow on twitter @Moneyperk.