Education for Entrepreneurs: Yes or No?

Think back to your post-college days. You were full of inspiration, thirst, and knowledge or exhausted, broke, and rudderless, or maybe somewhere in between. Either way, today, when you are an entrepreneur, do you think investing those four years was a good decision? Well, I’m going to dedicate this post to help you decide.

Again, NBC’s “60 Minutes” was my inspiration. They interview was with Peter Thiel, a Silicon Valley entrepreneur and investor best known as the co-founder of PayPal and an early investor in Facebook, Yelp, and LinkedIn. Thiel sparked a controversy in the US after he came out against higher education, claiming it has become a money landfill where millions invest up to $250,000 for a bachelor’s degree and get nothing in return. He was willing to put his money where his mouth is and created a fellowship program for students under 20. His foundation encourages students to drop out of college and focus on their unique idea with the help $100,000, given by him. To support his notion, he mentions Steve Jobs, Mark Zuckerberg, and Bill Gates, all successful college dropouts.

The list is long for successful entrepreneurs who dropped out of college, but is it long enough? Are these examples too few and far between for us to make any conclusion about the necessity of higher education in general, and for entrepreneurship more specifically? So, is education a necessity for entrepreneurs?

Why yes? First, college is a great place to meet new friends and business contacts. Where else will you get acquainted with so many people for a long period of time, long enough to make meaningful long-lasting bonds? We all know about the importance of networking, so I consider college a four-year-long networking event. Even if you don’t know a person from your years in school, the fact that you both went to the same institution makes you closer. Second, even if you don’t gain knowledge that is specifically relevant to your business, a college degree gives you basic familiarity with subjects such as economics, business, psychology, sociology, history, etc. I believe that one of the most important things you learn in college is the “business language.” The knowledge and skills you gain in college are what you put in your toolkit when starting your professional life. They allow you to make your first steps in the business world—slowly, maybe, but surely.

Why not? College is expensive. The average tuition, room, and board for a four-year degree is around $80,000. That is a lot of money, and most students and parents cannot afford to pay, meaning they have to take out a loan to cover it. Second, many courses that are required in college may be considered irrelevant to the future aspirations of the student. Many students also struggle to finish these courses because they have no interest taking them. Studies suggest that popular careers for the most popular majors such as Social Sciences, Communications Psychology, and English include Retail Store Manager, Customer Service Representative, and Administrative Assistant.

Those who view college in the narrow perspective of monetary ROI may be disappointed, but I believe that college is a good starting point for the rest of your life. It gives you the time to build knowledge, create friendships, and ponder about the future in a constructive way. It is a setting that allows people to give free rein to their thoughts and aspirations without getting lost.

Latest Articles

  • IIT Kanpur fails to execute marksheet promise
    IIT Kanpur fails to execute marksheet promise

    News: 29-May-2011 Initially, IIT Kanpur had promised that it will release marks scored by can. Read More

  • Does test data change public opinions about education systems
    Does test data change public opinions about education systems

    Americans political opinions have become increasingly polarized over the past 50 years, with voters . Read More

  • We Offer all types of Finance
    We Offer all types of Finance

    Do you need a Finance ? Are you looking for Finance? Are you looking for a Finance cash t. Read More

  • How AWS training is helpful for companies?
    How AWS training is helpful for companies?

    AWS stands for Amazon Web Services, which is the name given to cloud computing facilities provided. Read More

  • Why Do You Need Virtual Assistance For Your Business?
    Why Do You Need Virtual Assistance For Your Business?

    Virtual assistance is a popular concept in the offshore outsourcing industry. Businesses are increas. Read More

Latest Classified

  • Low Cost Web Designing
     Get your own Professional website just for Rs.4999/- both for Static and Dynamic website. We guarantee you for quality work and support. Increase the number of pages anytime you wish at nominal
  • Royale Residency Floors in Gurgaon
    There are times when you’ve always wanted to live in a different ambience wherein you could indulge in lavish living. Come, wake up and make your dream come true. Now you can become the proud
  • Vertical Laminar Air Flow Bench Top
    Weiber offers supreme quality vertical laminar air flow bench with bottom stand arrangement. We manufacture a qualitatively superior range of automatic & portable industrial modules that ha
  • Vertical Laminar Air Flow
    Weiber offer an assortment of quality range of microprocessor based vertical Laminar Air Flows. They provide their usefulness for activities like filtering the air and eradicating the unhealthy
  • explore Green Gifting along with Flowers is spreading message and have come up with options for Green Gifting that include Natural plants that stays together and lives together. Jagjyot Singh have been

Top Featured Institutes