Education is of paramount importance for aspiring entrepreneurs
Completing education may not seem necessary to a lot of aspiring entrepreneurs, but according to most experts and already established names in the market, such as Bill Gates himself, specialized education is very important to being successful in the long run.
More than 90% of the Tech Entrepreneurs Have Higher Education
Bill Gates and Mark Zuckerberg are common examples of successful tech billionaires that aspiring entrepreneurs idolize, but there are two facts that often elude them.
Firstly, both Mark Zuckerberg and Bill Gates were already exceptional students at Harvard, and both of them only left their education incomplete at the time because they had a billion-dollar idea, quite literally!
Secondly, 90% of the other successful tech entrepreneurs in the US have a Master’s degree or above in their respective fields, while 95% of them at least have a baccalaureate degree and plan to complete their graduation later on.
Larry Page has a PhD in Computer Science, Reed Hastings also completed his Master’s degree in Computer Science, while Irwin M. Jacobs completed his Sc.D. in both Electrical Engineering and Computer Science (EECS); the list goes on.
Completing One’s Education and Gathering Experience Can Happen Simultaneously Today
Another pattern can be noticed if close attention is paid to the available data, which reveals that almost every one of the successful billionaire tech entrepreneurs in the US, who left their education incomplete for the time being, had done so many years ago. They had to leave their respective programs because working on the idea and completing their education simultaneously wasn’t possible back then.
Today however, we are living in a mostly digital age, where gathering experience and studying simultaneously is quite possible. Excelsior is a non-profit, online institution which offers a whole range of purely online and conveniently flexible programs that are specifically designed to be ideal for working professionals. Excelsior and other similar online establishments like them make it possible for aspiring entrepreneurs from any and all backgrounds to pursue their dreams, without leaving their education incomplete along the way.
Building the Knowledge Base Necessary
Certain fields do not require specialized professional education and training, while others do. Nevertheless, every business owner benefits from completing business management and administration degrees. Even the experienced owner of a single manufacturing plant can increase profits, reduce expenses and maximize productivity by learning about modern lean management.
Entrepreneurial ventures in technical or skill-based industries such as accounting, software development, legal counselling and representation firms, automobile/parts manufacturing, etc. are all headed by leaders who have both the education and the experience to do what they do, in their own sectors. If they did not have the knowledge base developed while completing their higher education, they could not possibly even understand the work itself.
Aside from these factors, networking would have to be another definite reason to complete college. By missing University education, aspiring entrepreneurs are also missing out on the opportunity to form valuable connections with some of the most experienced people in their respective fields. The teachers, guest lecturers and even the fellow students themselves are all valuable contacts for the future, to each other.