A lot of people follow in the footsteps of their professional idols to fulfil their dreams. While there is nothing wrong in doing so, expecting the exact same results as theirs can be highly disheartening. You can always adopt a successful person’s principles, share similar goals, go by the rule book, learn from their mistakes, and still reach nowhere. Besides, it won’t take you through the same journey, neither give the same experience nor the final outcomes.
Young minds look up to the leading businessmen in the world thinking they would also do something different in their lives. Bravo! But, what they don’t realize is that they can actually end up following the crowd. Two of the top global tycoons Mark Zuckerberg and Bill Gates are college dropouts. As this truth was revealed, it soon turned into a trend among the graduate students to quit college in the middle and start their own venture. But, no one tells you what happened to thousands of others who did the same.
Today, we will tell you how success is a matter of sheer luck and hard work, and why dropping out of college isn’t a good idea for everyone.
It’s a myth!
Yes, you heard it right! Dropping out of college has nothing to do with entrepreneurs being successful. Every youngster who quits education in between just because he/she got inspired by someone, doesn’t necessarily come out as a winner. In fact, this drastic step is more likely to be conceived as an act of quitting/giving up or lack of interest in studies. Statistically speaking, almost 80% of Forbes most powerful people attended an elite school and got their graduation degree before they went on to finally make it big.
So, trying to ape someone else’s choices and decisions would be a naive risk taken. They might have had circumstances, or necessities that made them do it. Perhaps, if you look at the bigger picture, the whole point is to make the right decision at the right time. Thus, the claim that dropping out of college is the key to establishing a flourishing business is certainly a myth.
Why is an educational degree important?
Wise men say that education is the easiest way to be successful. Those who focus on studies and gain knowledge at a young age don’t have to struggle later. On the contrary, if one couldn’t make the best use of time in educating oneself right, there are greater chances of carrying this load of negligence throughout life. Simply put, focusing on education while you still have the time, energy, and mindset for it, is the most fruitful way to progress.
If you wish to run your own business or start a different venture, completing the degree first is usually advisable. When you have an educational degree in hand, you have a safety net to fall back on if other pursuits don’t work out. So, it’s definitely a safer option as far as career is concerned. Moreover, the impact that a person with a professional degree creates on others and the weightage given is always stronger than the one who hasn’t.
What if you have already dropped out?
Make sure you didn’t take this life-changing decision only to follow the trend. If you have thought it through and already taken the big leap, it’s time to fasten the seat belt because the ride from here won’t be smooth. There are numerous responsibilities that you will have to manage single-handedly and also hire employees for multifarious jobs. Some of the tasks involve getting sufficient funds for the start-up, finding an office, visiting or hiring a business advisor, performing competitive analysis, being active on social media, among other things.
Once you have plunged into the race of entrepreneurs, there is no going back unless you have a professional degree or prior organizational experience to resume. If dropping out of college was the only wise decision to make, maybe you are not entirely wrong. You only need to plan, research & analyze, take actions, and then never look back.
The first 3 investments as a newbie
As a new entrepreneur, you will have to wear multiple hats. But, as a single entity with one brain and two hands, there is only so much you can do!
It’s time you start investing in resources and give your imagination a real form. The 3 first and most important investments that a new businessman makes are:
Smart Workforce: Employees are indispensable and the most valuable assets of any organization. Apart from focusing on smartness, you need to recognize out-of-the-box thinkers, extraordinary performers, and dedicated employees for your new business.
Advanced Technology: Who doesn’t want to use the boons of technology to their advantage? As a newly founded company, you need to find effective and reliable solutions to optimize the output of your investments. For instance, HR software can resolve 70% of your administrative issues by streamlining most of the processes through automation. There are various other high-tech software to switch to for exponentially better results.
Sales & Marketing: Now, once you make your mark in organizing the workflow, it’s time to reach out to the prospective customers/clients. The sooner your products and services become available and known in the market, the more will be the ROI and revenue generation.
The way to success
In a nutshell, if you are sheepwalking with the college dropouts because you barely passed the exams, stop right there! The road to starting your own venture is going to be even bumpier than that. But, if starting your own business was always your dream and pursuing an educational degree was a wrong turn by, let us tell you that mid-way realizations are common. The ultimate motive should be to never stop striving for your goal.