Getting an Education and Being a Young Entrepreneur
To prevent any confusion between my opinion and the previous author’s, I decided to set the record straight as to where I stand on education and being a young entrepreneur: education is a necessity. Have people successfully started a business without a full education? Yes. However, before you quit school and follow the success stories you read online, consider the fact that businesses don’t always work. Actually, more businesses flop than become successful. Do you have a backup plan?
The less education you have, the more of a risk you are taking as a young entrepreneur. Why? Well, here’s a list of some benefits you gain from getting a degree in higher education:
- Networking
- Credentials
- Security
- Culture
- Expertise
I must admit this is a very condensed list. However, it really brings me to my main points:
An education adds legitimacy to your budding business.
When you are pitching an idea to a potential investor, what will convince him/her to take you seriously? A degree reflects responsibility and discipline. Though it doesn’t always take one to start a business, it will surely help you get off the ground faster. You will have plenty of connections, friends, and conventional wisdom off the bat.
An education will get you an entry-level job to help fund your business.
Move out of your parents’ basement, already! Don’t be afraid to get a job for a year or two before you want to begin as an entrepreneur. You will often find that you are spending more money than you are making for the first few months. Advertising costs money, gas costs money, food costs money, other overhead costs money - all of this digs into your personal and business funds. Do you have a plan to cover costs without having to take out a loan?
Going to college is fun!
One of the main benefits of going to college is meeting people. You will learn so much about yourself and everyone else. How does this apply to entrepreneurship? Well, you really gain a certain tolerance for people. You are dipping yourself into the shepherd’s pie of society (a mish-mash of everything), so you can learn how people work and function. Higher education is a worth-while experience that I wouldn’t trade for any amount of money, because I wouldn’t be the same person without it.
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