Entrepreneurs are capable of innovations with no money and no connections. They can start a business with just a computer. Right now, there are multi-million dollar small businesses with no offices, no employees, and no debt. These are exciting times for entrepreneurs. This means that more people can spread their awesome ideas and innovations directly to people faster and further than ever before, thanks to the internet.
You don’t need permission
As an entrepreneur, you don’t need permission to start a business and no permission to reach your customers. That’s all gone now. The internet now allows people with passion to do what they want, to get connected directly with their fans and followers without taking permission from anyone, so long as you are creating something of value. College education can give you the foundational knowledge and skills that you may require to run a business.
College Increases the Chances of Your Success in Life
People might argue that a college education isn’t necessary, but I think it is important to get a college degree before becoming an entrepreneur. The education you receive may or may not help you with the specifics of your business. But whether it does or not, it can help you to think, communicate, analyze, learn and listen. These skills are important to being an entrepreneur to support success, not just in business but in life too.
A college degree is useful for establishing yourself and your credentials in the eyes of your customers and other stakeholders. If you ever want to get investment money or a loan, a number of financial institutions think of an undergraduate degree as a sort of filter for getting a credit card, for example. If you don’t have one, you might need to prove yourself in other ways. I know several entrepreneurs who dropped out of college and now wish they hadn’t.College credentials are part of your business story. So you need to share a story that people will admire. Being a dropout may place a shadow on your capability to pull off a successful venture. You may succeed as an entrepreneur without college education, but it would be hard to convince people who look down on those who don’t go to college.
Start while at University
Starting a business resonates very well for those who are at universities. Your tuition and livelihood is probably all paid for, so you have the time and the freedom for roughly 4 years to create, explore and experiment with innovative ideas. That’s a prime opportunity. This is the best time for you to start something new, whether to start a business or get into the habit of exploring new ideas. When you gain the skills to try new ideas, other than the academic material presented to you, this will open a whole new world of opportunities. People will seek to hire you because they will see that you are a problem solver. Others will see that you are the right person to invest in. Keep all your options open.
Education the new playbook
A number of people will tell you that you need to go to college so that you can secure a job. This is no longer the case. Today’s schools and universities need to play a more important role than ever before. While most education systems still follow the 20th century model, we now need them to offer the 21st century playbook. It’s no longer acceptable to say, “We’ve always done it this way”. The school curricula were historically created for those who were seeking employment after graduation. So much of what is being offered at schools and universities is to prepare us for something that is no longer relevant for today’s world.Technology has advanced at a ridiculous pace in the last ten years, and what once was futuristic and difficult to imagine is now a part of our everyday lives. In fact, robots, artificial intelligence and technology built on top of the internet will threaten the very fabric of the current job market. Ten years ago, we didn’t have a social media manager, app developer, or drone operator. Ten years from now, we may not have tellers, cashiers or travel agents. Our education system has to continue to adapt.
Incubation & Mentoring
Universities need to provide startup space at their premises to help foster innovations for students and others in the community. They need to offer the opportunity to make their innovative dreams a reality. They need to provide the platform for students to explore ideas, with the aim of supporting early-stage ventures and entrepreneurs. In addition to office space, support may include funding, commercial mentoring, negotiation support, and access to business networks.