University! Alcohol, living with friends, meeting many lifelong companions, developing a powerful sense of independence and, at the end of it all, a degree. Sounds perfect, right?
This is my very first blog post, ever, so I’m not too sure what to expect in terms of feedback, but I’m just going to put my thoughts on university on this website for you to read, and feed back your opinions to me. I know what you’re thinking: my website name is ‘Daily Business Thoughts’, but I’m only uploading blogs weekly. This is because this website stemmed from my Instagram page that I opened roughly a month ago, and on there the content IS daily. I’m going to try to keep this concise and not waffle too much, so here goes.
University is a fantastic way of transitioning from a young adult to a steady part of your country’s workforce. It is very rare for people with degrees to come out of university (or college in USA) and be completely unable to find any sort of job. Therefore uni practically secures you a sturdy job, which in most scenarios people stay with for a long time, so university can practically set you up for life. Doesn’t that sound good?
Well, what if you’re an aspiring entrepreneur and you want to be your own boss? What if you don’t want a 9-5 job working for someone else? If you want to set up your own business and eventually build an empire, many people would argue that a minimum of 3 years studying at uni is actually a complete waste of time. Although they can come in handy, most entrepreneurs do not need degrees.
Lets look at some examples. Bill Gates and Mark Zuckerberg are both college dropouts, and you’d be mad if you said their success isn’t breath-taking, whichever way you look at it. Alan Sugar and Richard Branson didn’t even go to university, and they’ve both accumulated more money than they could ever spend. These successful entrepreneurs and many others are living proof that you can be incredibly successful without university or college qualifications.
University is also very expensive. Here in the UK, it currently costs £9000 a year to attend. You can take a student loan to pay this off, but as soon as you get a job on the other side of uni, you’ll spend at least the next couple of years trying to pay it off. I’m currently reading ‘Entrepreneur Revolution’ by Daniel Priestley which, by the way, is a fantastic read, and throughout this book Priestley argues that much like the industrial revolution (the shift from agricultural work to factory work back in the 18th century), we are about to experience an entrepreneur revolution, in which most people will stop working 9-5 jobs and will set up their own small businesses. Priestley believes this is possible due to recent advances in technology, making it incredibly easy to start businesses online.
Priestley himself did attend university, and even studied business, but wasn’t impressed. A short passage from the book reads: ‘I was disappointed at university. None of my lecturers had built or sold businesses. Most of them were struggling.’ Priestley then dropped out of uni at 20 to shadow an entrepreneur, and he said this was far more beneficial.
Now I’m in no position to tell you what to do with your life. Avoiding university can be very risky – Forbes magazine recently stated that 90% of all start ups fail. This is staggering, and means that the odds are against you. If you are in two minds about setting up a business, I’d suggest you go to university. Because to become the 10% that work for themselves, and lead successful entrepreneurial lifestyles, you need to do whatever it takes in order to make it.
If you want to pick up a copy of Entrepreneur Revolution by Daniel Priestley, click the following link:
Thanks for reading my first ever blog, make sure to come back every Thursday, as these will be weekly.
Daily Business Thoughts.