In today’s day and age, is going to school worth it for an entrepreneur? Half of the elders in your life will tell you to go to school and to get a degree, while the other half will say, “Save your money,” and “You don’t need college.” When it comes to becoming a doctor, lawyer, teacher, etc., it is important to spend money and get a degree; the return is there. If you are looking to become a business mogul and work for yourself, you may be asking yourself, "Is it really necessary to go to college?"
In my opinion, like many classes, the entrepreneurship class is not taught how it should be. From my experience in college, you have a project due at the end of the semester to create a mock food truck or an elaborate business plan to present in front of your classmates just to be handed a letter grade. The answer to this in-class confusion is right in front of us. Why spend $2,500 for a class to create something imaginary when you can spend that money to create a real business that could actually turn into something? These are thoughts to consider before spending money on a college course when you could use that money to start your own business. I recommend this to all future entrepreneurs.
Why is your teacher teaching a class about growing a business when they do not have a business of their own? Is any of this going to be used after I graduate? These questions shouldn’t even have to be asked. The real goal should be to create something in the actual business field and run reoccurring tests on it, from sales to marketing. From there, you can use the money you are spending on class accordingly. Learning from personal experience — including your failures — is the greatest way to develop yourself into an entrepreneur.
Use that money, and find a product you want to sell or an app you want to develop, or start a storefront.
After you find your idea, the first step is to take the money and create your online website. Then allocate the rest of the funds to your inventory, sales and marketing. If you took the funds from every class in your college career and spent this money on a business, you could have a franchise across the United States in a few years' time. If you fail, you fail, but is it really a failure? Failure, in my eyes, is spending money on a college course dreaming up a business model you aren’t bringing to life.
As an entrepreneur, you need to take that risk, spend that money and create something with the possible outcome of a loss. But who knows? It could turn into something profitable; that is why we do it, after all. It is important to fail and learn, and more people need to take that leap. You’ll never execute without risk.