There is a common misconception that an entrepreneur doesn’t need to go to college to succeed. While there are some examples of entrepreneurs who have skipped out of school to work, many have gone to university at some point or taken a class that benefited them in a variety of ways.
For example, a classroom environment aided in developing their understanding of a specific concept sharpened their organizational and prioritization skills, and taught them how to remain lifelong learners. Yes, securing a college degree can put you ahead of the competition and teach you skills that make you more than prepared for the entrepreneurial journey ahead. Still, you may have some concerns before taking the leap, which we will explore here.
Paying for College
This is a quandary for a vast majority of prospective college students in The United States. Fortunately, there are more ways than ever to pay the often-high college tuition and fees. Common ways including applying for grants, scholarships, or federal loans, participating in a work-study program, or using savings to pay for school. While each of these has its advantages, taking out loans from private lenders remains one of the most popular ways today.
Unlike those that are federally backed, private lenders can offer student loans with the benefits including the amount that you borrow being unlimited, and the eligibility is not needs-based. There are a number of ways to find private lenders as well, which can be found through some research online. These lenders stand out for their minimal to non-existent application fees, as well as their wide flexibility.
Related: 10 Reasons Being An Entrepreneur Is Better Than Employment
Time
Unfortunately, there is a stigma in society that only young individuals can become entrepreneurs. Therefore, your youth should be spent working 20 hours a day before your time runs out on making your dreams come true. This could not be further from the truth. Some of the world’s most successful entrepreneurs started later on in life (i.e., Colonel Sanders, Ray Kroc, and Vera Wang). Instead of burning yourself out working tirelessly when you are young beginning at 18, you can spend a few years learning more about the required skills it takes to actually run a business while deepening the comprehension of your field and market. Unlike the societal stereotype, success knows no age limit.
Environment
Lastly, some entrepreneurs feel turned off by the classroom environment of the typical university. They believe this kind of atmosphere can be limiting, with a focus on a more collaborative effort between classmates rather than an independently-focused structure of each individual student.
Some believe that this could potentially take away from one’s focus and goals. In all actuality, studying and working in a teamwork environment is often the most valuable part of going to college. You often gain insight from networking with other classmates, including another perspective that can strengthen your vision, goals, and overall work. Plus, being an entrepreneur will require you to be able to successfully communicate with a wide range of other individuals on your journey to success.
