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I've read a few posts on here about this popular subject and in the main, the idea seems to be against college, so I just thought I'd throw my hat into the ring and argue why I think you should go to college/university.
COST
One of the most common arguments against going to university I hear, both hear in the UK and in America, is the cost and therefore (unless you're being bankrolled) the not inconsiderable debt that you will be left with after you finished.
The first thing I'd say to that is; not all debt is bad debt, being in debt for $150,000 because you have been buying cars and clothes and whatever else you couldn't afford for 4 years is obviously not the same as having a college debt. Your time at college, spent wisely, will reveal the means of paying that debt off, either by way of job or business.
However this forum is all about making it in the world of entrepreneurial business, not securing a high paying job, so how does college fair in this respect?
STEVE JOBS
That brings me to the second most vociferous argument against further education; Bill Gates, Steve Jobs, INSERT BILLIONAIRE NAME HERE, didn't go/dropped out of college.
Apart from pointing out the obvious; those are individuals who lived in a certain time and place, with a set of circumstances specific to them and not you. I would point out that often the "drop-outs" met their future business partners in college, as Gates met Allen before they both dropped out to form Microsoft.
THE ENTREPRENEURIAL CLICK
I believe that if you go to university with the mindset that you want to start a business and you want to use your experience to give you an idea and knowledge to implement that idea, then not only will you take the right courses, but you will meet other people with that mindset. That is not rocket science, if you want to goof off and smoke pot and scrape past your exams, then you'll probably end up hanging out with similar people. If you're a sports jock and you want to play college football and ultimately get to the NFL, then your peer group will have similar aspirations.
I think in every self-developmental book I have ever read, there are at least a few paragraphs if not entire chapters dedicated to the importance of surrounding yourself with people with similar goals, it's why we're on this forum; is it not?
You may or may not meet your future business partner, but what you will do is meet people with similar aspirations and goals, this will inspire and encourage you, at the very least, you will meet people who you may never have met, who will go on to become good friends and associates; all part of life's rich tapestry as they say.
I WANT IT NOW!
The next common argument against goes something like; Why should you waste that time in college, when you could be using that time to do your thing? You're just delaying the point at which you're rich and successful.
After pointing out to you that even though it seems like a long time, you're 18 and in four years you'll still be young and if you're going to burn four years doing something, it's a hell of a lot easier to do it now than when you're 25/30. I would then counter with the statement; Whatever it is you end up doing, it's going to take resources and that means spending money.
A university is brimming with resources and you can use all of them, you paid for them! Whether it's film or accountancy, there will be things that in the real world, you'll have to shell out for, or worse compromise because of a lack of capital. Either way, it's surely best to use the resource and expertise of the college you're enrolled in.
This last point for me is the biggest, simply because the resources you use are not necessarily restricted to the course you're taking. For instance, an example off the top of my head, you are majoring in computer coding, because you have some fantastic idea that's going to make you squillions of dollars. You write an app and you're ready to put it on the Apple and Google Play stores, you're excited because it could pay your college fees and much more.
However as a smart young entrepreneur, you realise that your idea needs marketing and you know nothing of that, so you hook up your new entrepreneur buddy Greg, who is studying marketing and is minoring in film studies. So you talk to Greg about making a video for your amazing new app and start discussing marketing ideas, before you know it, boom, you're collaborating, saving yourself, hundreds, maybe thousands of dollars in testing various ideas.
OK, like I said, that idea was off the top of my head, but if you think about it, there is no limit to the valuable connections you could make. Please correct me if I'm wrong, but I'm not aware of any billion-dollar businesses that were started by just one person with absolutely no outside help, no outsourcing and continue to run like that today.
Basically, I think it's better to have a business relationship with a like-minded individual, that's been there from the start and you most probably like them, than trying to find that relationship by trial and (costly) error.
In conclusion then, have a definite plan in your head as to how you're going to acquire the knowledge, skills and personnel to grow your business, then college will end up being the rich experience that it should be. Sure you'll be in debt by the end of it, but if you think you're smart enough to be successful without college, then surely you're smart enough to work out how to make college pay for itself?
BTW - No I didn't go and I continue to regret it till this very day...
Have a fantastic journey you young entrepreneurs you, I envy you, you're at the beginning and you already know more than I do.
COST
One of the most common arguments against going to university I hear, both hear in the UK and in America, is the cost and therefore (unless you're being bankrolled) the not inconsiderable debt that you will be left with after you finished.
The first thing I'd say to that is; not all debt is bad debt, being in debt for $150,000 because you have been buying cars and clothes and whatever else you couldn't afford for 4 years is obviously not the same as having a college debt. Your time at college, spent wisely, will reveal the means of paying that debt off, either by way of job or business.
However this forum is all about making it in the world of entrepreneurial business, not securing a high paying job, so how does college fair in this respect?
STEVE JOBS
That brings me to the second most vociferous argument against further education; Bill Gates, Steve Jobs, INSERT BILLIONAIRE NAME HERE, didn't go/dropped out of college.
Apart from pointing out the obvious; those are individuals who lived in a certain time and place, with a set of circumstances specific to them and not you. I would point out that often the "drop-outs" met their future business partners in college, as Gates met Allen before they both dropped out to form Microsoft.
THE ENTREPRENEURIAL CLICK
I believe that if you go to university with the mindset that you want to start a business and you want to use your experience to give you an idea and knowledge to implement that idea, then not only will you take the right courses, but you will meet other people with that mindset. That is not rocket science, if you want to goof off and smoke pot and scrape past your exams, then you'll probably end up hanging out with similar people. If you're a sports jock and you want to play college football and ultimately get to the NFL, then your peer group will have similar aspirations.
I think in every self-developmental book I have ever read, there are at least a few paragraphs if not entire chapters dedicated to the importance of surrounding yourself with people with similar goals, it's why we're on this forum; is it not?
You may or may not meet your future business partner, but what you will do is meet people with similar aspirations and goals, this will inspire and encourage you, at the very least, you will meet people who you may never have met, who will go on to become good friends and associates; all part of life's rich tapestry as they say.
I WANT IT NOW!
The next common argument against goes something like; Why should you waste that time in college, when you could be using that time to do your thing? You're just delaying the point at which you're rich and successful.
After pointing out to you that even though it seems like a long time, you're 18 and in four years you'll still be young and if you're going to burn four years doing something, it's a hell of a lot easier to do it now than when you're 25/30. I would then counter with the statement; Whatever it is you end up doing, it's going to take resources and that means spending money.
A university is brimming with resources and you can use all of them, you paid for them! Whether it's film or accountancy, there will be things that in the real world, you'll have to shell out for, or worse compromise because of a lack of capital. Either way, it's surely best to use the resource and expertise of the college you're enrolled in.
This last point for me is the biggest, simply because the resources you use are not necessarily restricted to the course you're taking. For instance, an example off the top of my head, you are majoring in computer coding, because you have some fantastic idea that's going to make you squillions of dollars. You write an app and you're ready to put it on the Apple and Google Play stores, you're excited because it could pay your college fees and much more.
However as a smart young entrepreneur, you realise that your idea needs marketing and you know nothing of that, so you hook up your new entrepreneur buddy Greg, who is studying marketing and is minoring in film studies. So you talk to Greg about making a video for your amazing new app and start discussing marketing ideas, before you know it, boom, you're collaborating, saving yourself, hundreds, maybe thousands of dollars in testing various ideas.
OK, like I said, that idea was off the top of my head, but if you think about it, there is no limit to the valuable connections you could make. Please correct me if I'm wrong, but I'm not aware of any billion-dollar businesses that were started by just one person with absolutely no outside help, no outsourcing and continue to run like that today.
Basically, I think it's better to have a business relationship with a like-minded individual, that's been there from the start and you most probably like them, than trying to find that relationship by trial and (costly) error.
In conclusion then, have a definite plan in your head as to how you're going to acquire the knowledge, skills and personnel to grow your business, then college will end up being the rich experience that it should be. Sure you'll be in debt by the end of it, but if you think you're smart enough to be successful without college, then surely you're smart enough to work out how to make college pay for itself?
BTW - No I didn't go and I continue to regret it till this very day...
Have a fantastic journey you young entrepreneurs you, I envy you, you're at the beginning and you already know more than I do.
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