03 Nov Should I Drop Out Of University To Start A Business (The Truth)
Is it worth dropping out of college/university to follow your business passion? Here’s the answer, it’s not the same for everyone, so watch the video and find out if it’s for you.
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It has been written that college and university is actually not very valuable, because the wealthiest and the most successful people did not go to college and you cannot contribute their success to college or university.
Most entrepreneurs did go to college and the vast majority did go to college, so I do not agree with that particular piece of information.
However, whether or not you should go to college mostly depends on you and your current circumstances, not on what other people have done.
Let’s go a little bit deeper into what you personally should do. There are people who should quit college and focus full-time into business. But, this is the minority and it is not for most people.
I have seen many people make the mistake of quitting. They see their idols, the people they look up to. They read books by people like Steve Jobs and they think they are like Steve Jobs or Mark Zuckerberg. They think that because someone who has made 100 billion dollars did it, that they should do it as well.
If you are going to quit college or university it better be worth it. You would better have those huge goals, which you are going to focus 20/30 years of your life on and really work your ass off. Most people think that if they quit college, it will be less work and they will travel and have fun and money will just work our, because they will be entrepreneurs and entrepreneurs have money.
Entrepreneurs do not have money, because they are entrepreneurs. Entrepreneurs who hustle super hard, have a little bit of luck, they work smart, find the right people to work with, choose the right niche and sell the right thing, do not get sued to much, do not pay too many taxes, those people can travel around and not work too much. But everyone else pays taxes, works a lot, not all of our employees are great from day one. It takes a few days to get good at it.
If you are going to quit your job, you would better make sure that you understand all of these things.
What actually are you going to get out of college? You will learn how to use your brain, you will learn statistics, Maths and economy and how does money work. Some of these skills are very useful and some of your employees in your company need to have these skills.
For example, I am not very good at accounting, but I hire people who are good at it. However, I know the basics of accounting. I know enough that I can understand that those people are making me pay too many taxes. College did help me with that.
I you intend to study science, then you would better go and study science in university, because it is going to be very hard to study it by yourself. You do need to study it from the professors who are experts in their field.
Who should drop out of college? – The people who are willing to work super hard, but also the people who are already making money. If you have not made for 3 months a consistent income of $3000/$4000 per month and if you are not sure that you can increase that and if you are not sure that it is scalable you should stay in college.
But if you are sure that this business is making you money and is generating a consistent amount of money that you need to bankroll all of your ideas, then you should quit college. In that specific case college is holding you back from building your business. If you let college hold you back, your company will not be able to grow and it is going to be average and you have to go and get a job.