Is University Worth it for Entrepreneurs?
We always see articles around the web about whether it would be worth it going to University or not. I’m currently at University and with the new fees coming in soon, which luckily I won’t be paying, the decision to go or not is becoming even tougher.
In this post I want to look into whether going to University is the right choice for budding entrepreneurs, people who want to make money their own way.
Is This Different Than Other Professions?
I think so, yes. With any other profession, nowadays, you probably need a degree and therefore it’s a must to go, or you have to work your way up from the bottom. For an entrepreneur, you have to work your way up from the bottom anyway. It takes an idea, not knowledge as such to create a name for yourself and in turn make money.
The Knowledge Creates the Idea
This is where people will disagree and where we will see if it is important to go to university or not. Although I think I have quite a great deal of knowledge about certain fields at the moment, and with a bit of backing and money I could go onto starting my own business up in the next week say, I don’t think I have enough knowledge.
For example, I would love to start up a website, I have a few ideas in the bag, which would earn me money and make for a great start-up business. However, I don’t have all of the skills at the moment to go into making these websites so that they are everything I want, and in my opinion you should never do anything in halves, if I want my businesses to work, they need to be done properly. By going to University for four years, yes I may miss the opportunity to do my plans as of now, but in the long run I will have greater knowledge and intelligence and then consequently I can come up with an even better business idea and know how to pull it off properly.
Nobody is the same
This definitely isn’t an article trying to get you to go to University, for many people it is important not to go and get a head start, the amount you can learn from doing on the job is massive, and in lots of industries this will be better, but in my opinion the industry I want to move into, its important to have that extra proof of education.
Getting the Contacts
Another important aspect I think is that you are able to make so many new contacts. Not only people you meet on your course, but also the university. The friend I talked about the other day, his business idea has been strongly helped by the university and this means that he has a much greater chance of it being successful; it looks good for the university if one of its students becomes successful. Business is all about brand image.
Money is the Problem
It costs a lot, but I’ll be using this as an example in a balance sheet post soon.
Did you go to University; did you think it was worth it? And if you didn’t, are you happy with your decision?
Image: Education Building by My New Wintercoat
Hi Simon,
Well, I didn’t go to college but the rest of my family did. Although we are all so much older than you, my siblings ended up not even getting a job in the area that they went to school to pursue. My decision was because I had a learning disability, therefore, I knew I wouldn’t do good. But I worked my way up in the corporate world and ended up getting jobs due to my experience, not a degree.
I know that times have changed and I know that education is important in securing certain positions in the work force. So my thoughts are that if you believe it will benefit you in the area you want to pursue, then I say go for it.
So that’s my opinion and hope it is helpful.
Adrienne
Its always the argument, work your way up or get a step ahead. So many people go to higher education now though, that you are still competing against people who are better than you, on paper.
It’s very true, go if you want to, don’t if you don’t.
Simon
I think it’s worth it to some degree. For example, for me I’m making well off on the internet, but it’s not from anything I learned from school. Everything I know about marketing on the net was self taught through my own dedication. Also like most are saying these days the education system is failing, people are relying more and more on the net to put them selves ahead of the curve rather than the slow changing school systems of today.
I have to say that trying to secure a position in the work force is troubling me. I am in a business that strives of failure and hardship and it sad to see what we have to do on a daily bases to help people in need.
Having and formal education will not guaranty success. What I have found to work is persistence and perseverance with a plan.