Jim Rohn once said, “Formal education will make you a living; self-education will make you a fortune.” Many may argue the validity of this statement, but I personally cannot agree more with Rohn’s words.
Although a formal education can help you get a good career and bolster your personal development, self-education and experience will allow you to discover skills that will open up the possibility of acquiring wealth.
I’m living proof that self-education can get you better results than formal education. I left college to become an entrepreneur while I was in the fourth year of my finance and accounting degree. Rather than going into banking, which was one of my first career choices, I realized that becoming a business owner would give me the financial freedom I desired.
After searching “how to make money online,” I quickly realized that to earn money this way, I needed to learn new skills and gain experience. I made a lot of mistakes during my first attempt, but I managed to acquire knowledge and understanding of how it works.
If I stayed in college, I would’ve spent a lot of time completing assignments and attending lectures instead of becoming a young entrepreneur. I used that time to learn a lot of new skills that increased my earning potential and ability to communicate and network with like-minded individuals.
With this mindset, I launched my internet marketing company without completing my college degree. Evidently, it turned out to be a fruitful decision: MOBE is now a leading multi-million-dollar company.
Get the Experience
If you want to leave school and pursue your dream of becoming an entrepreneur, you have to educate yourself to make it work. I’m always on the lookout for any materials and opportunities that can help me become better at running my company and managing my responsibilities as an entrepreneur. I even listen to audio books when traveling on long flights to keep myself motivated and pick up a few tips from prominent thought leaders.
I’ve long been a Warren Buffet fan and have always read articles about his life and the things he did to achieve success. I would highly recommend that you do the same. Learn from the people who have achieved great success in your niche and be inspired by what they did and currently do.
Whatever your goals are, you should learn the skills necessary to achieve them, look for people who have accomplished great things in your industry and follow their footsteps. Then, after you’ve gathered the knowledge, put it into practice.
The very reason we go to school and college is to become proficient at the fundamental principles of the career we want to pursue. The only difference between obtaining knowledge in or out of school is that the latter helps you gain insights on building a scalable business and becoming a financial success.
Bill Gates, one of the best examples of college dropouts gone rich, famously said, “I failed in some subjects in exam, but my friend passed in all. Now he is an engineer in Microsoft and I am the owner.” Gates’ net worth of $87 billion has made him the world’s richest man—all without completing his college degree.
Education will not always be a basis of success; sometimes, leaving school could be the best decision you’ll ever make. But it really depends on your mindset and hard work because skipping school to become an entrepreneur doesn’t guarantee success either. Read this article to get more inspiration on how you can build a business without completing your academic degree.