Do entrepreneurs need to attend college? As a successful entrepreneur, I often get asked if it would be beneficial for a teenager who shows a strong interest in starting a business to attend college. I have asked this question often of other successful entrepreneurs, as well, and the answer tends to go like this: “College can open up doors for young people, and it provides great networking opportunities.” In other words, a vague, unsubstantiated “yes”.
My answer is totally different: I don’t think college is beneficial for teenagers who already have a good idea of what they want to do with their lives, especially if they want to start a business.
Here’s my story…and some tips on whether college will be right for you:
My Background
My parents both have Master’s degrees. My father runs a law firm and my mom is a former school teacher. She raised me as a stay-at-home mom and then opened a title company when I was in grade school.
My mom was mortified when I slacked off in school, but school bored me. I am an extreme visual/hands-on learner; I have difficulty picking up information when it’s delivered in auditory format. I was often bored in school because I couldn’t pick up the information when someone spoke it to me, but I could read faster than everyone else, so while most people were sounding out words, I was already finishing the book.
I hated authority and constantly challenged my teachers. In first grade, I asked my teacher at lunch, “If the universe contains everything we know, and it’s constantly expanding, what is it expanding into?” She looked at me helplessly and tried her best to explain.
It was around that time that they seriously considered advancing me a grade. Persuaded by my mom, the principal put me in the third-grade reading class. I was testing at an eighth-grade reading level, but my social skills were woefully underdeveloped. I was not well-liked by the other kids.
Mom was constantly searching for other school options. We lived in a rural part of Indiana, with only one high school for the entire county, so my local options were limited. My parents considered sending me off to boarding school.
Attending a Different School
In the meantime, the state of Indiana was using its gifted-and-talented funding to start up a residential high school for juniors and seniors: the Indiana Academy. After touring it, I decided to go.
Living with other kids was a challenge, but I identified with many of them. I found more deep friendships there than I have in any other environment. It was there that I got introduced to computers and networking. (When I first got there, I tried to plug my dial-up modem into the Ethernet jack on the wall–I had never been exposed to networks before!)
I quickly became the de facto female computer geek. I managed 14 computers on the girls’ side of the school. I set up a web hosting company by colocating my old 486 desktop computer at an ISP; one of the teachers paid me to host his personal website. I ran several websites, one of which was a shareware ranking site that received a good deal of publicity.
When summer of my junior year came up, many of my classmates got jobs at local retail stores. I did something different: I went on Yahoo! and found the listings for local web design companies in Cincinnati, Ohio. I sent all of them (I think there were 20 or 30 at the time) an email asking if they needed a web person, and showing them several websites that I had coded myself. I landed two interviews and got a paying summer job at a web design company coding HTML and Perl.
By the time I was ready to graduate high school, I knew three things:
- I wanted to go to Silicon Valley and seek my fortune.
- I wanted to run a web hosting company and design/develop websites–the opportunity for “passive” income (I can confirm that’s a myth after 6 years of running one, but I didn’t know that then!) was hugely appealing to me.
- I wasn’t going to graduate from college.
Of course, I wasn’t afraid to tell everyone who would listen about these three things. I remember most clearly telling the female computer science instructor that I would go to college because my parents wanted me to, but I wouldn’t graduate.
She was devastated. Then she started yelling. “You don’t understand the opportunities you have been given!” she said. “You’re throwing it all away. The women of my generation had to work so hard to even be in college, and you just want to give it up?”
I shrugged. It was pretty normal for teachers to be upset with me.
I mostly didn’t talk about it with my parents. My mom would get angry, which would cause my dad to leave the room. It was not a pleasant experience. I would go to college, and that was that.
No one could really tell me why college would be great for me. They all assumed I had to go. That there wouldn’t be any questions. That it was necessary to “open doors” for my future.
But was it necessary for someone who wanted to start her own business and who didn’t want a job? No one could answer that question.
Applying to College
I applied to only two colleges: San Jose State and Santa Clara University. Santa Clara University required an entrance essay. My dad encouraged me to write an essay that said I would donate to their alumni association when I became a millionaire CEO. (I didn’t quite put it that way, but I dropped some broad hints about how going to SCU would help me become more successful.)
Santa Clara sent me an acceptance letter. So did San Jose State.
My parents were willing to pay for Santa Clara, but I decided I wouldn’t go there because they didn’t let freshmen choose the hours for their classes. I wanted a part-time job while I was there (this was Silicon Valley in 1999, after all!), so I opted for San Jose State. I took a small class load and applied for a job.
Finding A Job
I scored a job without going in for an interview. I cattily left out the fact that I was 18 years old in the phone interviews, and was hired as a part-time Marketing Director for a small web company. When they found out I was 18, had no marketing experience, and was a college student, they were not amused. They fired me.
I found another job “being the helpdesk” and fixing computers for a small company, Cobalt Networks, that later became one of the largest IPOs in history. Sun Microsystems bought us out in 2000 for $2 billion, then killed the product line.
In the meantime, one of my college professors told me I should drop out of school and “seek my fortune” in Silicon Valley. It took me a year to follow his advice, but after 3 semesters of college, I dropped out.
My mom said it was the worst decision I had ever made. My boss at Cobalt, who treated me like one of his kids (his oldest was only a couple years younger than me), said I would regret it.
My boyfriend at the time, a well-paid techie “whiz kid” who was a high school dropout, congratulated me. (Interesting side note: The vast majority of the guys I have dated have not graduated from college. Several were high school dropouts. This wasn’t intentional; it’s just what happened.)
You probably know the rest of my story (if not, you can read it here, where I go into details of how I created a million-dollar business at a young age.)
How Can You Tell Whether You Should Go To College?
Let’s look at some facts:
- I knew what I wanted from a young age. I knew I wanted to start a web hosting company and do Web development. I went out and got summer jobs in that area to gain experience.
- I wasn’t waiting to be taught by classes. I was a self-taught computer whiz; infinitely curious, a voracious reader, and not afraid to ask questions. I didn’t seek permission to take over those 14 computers in my high school; I simply did it.
- School didn’t suit me well. I didn’t learn well from lectures, and I didn’t enjoy school. I did most of my learning from books and the Web. The Web, being 100% visual, was a miracle for me.
When I look at most high school kids, I understand why college is necessary. They don’t know what they want. They have a vague idea of the future, and college helps them clarify what they want to do with the rest of their lives.
I was totally different. I was goal-oriented, and more importantly, I had a goal (starting a business) that didn’t require a degree.
I will concede that I was different from most teenagers, but by no means do I think I am unique. I think there’s a good percentage of teenagers out there who want to start a business but who, like me, are pressured into going to college by their parents and teachers.
And really, what is that pressure but simple fear?
My Mom Concedes
After several years of not speaking to my mom much (but before I sold my business and would be considered a success), I finally called her and told her I was really upset with her. I mentioned the comment she had made about dropping out of college being the worst decision I had ever made.
She started crying, and told me that she was proud of me for taking the path she never had the courage to take. That conversation meant a lot to me, and it helped heal our relationship. And that’s honestly when I should have written this post, but I didn’t have the courage until now.
Going on a different path takes courage, but the rewards can be huge. Whatever you think you don’t have enough of–money, time, college degrees?–to start your own business, let me tell you right now: You have everything you need to succeed.
Was It Worth It?
I started my web hosting company when I was 20 years old. I had no clue what I was doing. I made huge mistakes. I underbilled my customers, overworked my employees, and pissed off a whole lotta people.
But I also made close friends, learned a whole heck of a lot, and oh yeah, made well over a million dollars.
I had the worst day of my life and the best day of my life in my office, with my employees. And I wouldn’t trade that for anything.
The people who tell you you need to go to college–they want the best for you. They want you to have the best chance of success. But sometimes, the real path to success lies in doing what no one else is doing. While everyone else is in school, you’re out there knocking down doors and closing deals, signing contracts, and trying to figure out who’s screwing you over and who’s investing in your success.
There’s nothing like it. And if you read this post and, like me as a teenager, are a self-starter, motivated to succeed, and ready to start your business, don’t let college stand in your way. Go out there and get your hands dirty. Yep, you’ll probably fail; most businesses do. But it will all be worth it, and you’ll have learned dramatically more in the process than you ever will sitting in a lecture hall waiting for class to end.
Recommended Reading:
- Hiring is Obsolete by Paul Graham. “While I stand by our responsible advice to finish college and then go work for a while before starting a startup, I have to admit it’s one of those things the old tell the young, but don’t expect them to listen to.”
- 15 Successful Entrepreneurs Who Didn’t Need College. Includes Michael Dell, Richard Branson, and Mary Kay Ash.
- One Thing You Don’t Need to Be An Entrepreneur: A College Degree by Fred Wilson (a venture capitalist.) His point of view: “I have learned that where someone went to college (or even if they didn’t go to college) has absolutely no correlation to whether they will be a good entrepreneur or not.”
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2. December 2009 at 9:18 pm
“… don’t let college stand in your way. Go out there and get your hands dirty. Yep, you’ll probably fail; most businesses do. But it will all be worth it, and you’ll have learned dramatically more in the process than you ever will sitting in a lecture hall waiting for class to end.”
As http://www.college-startup.com/college/15-successful-entrepreneurs-who-didnt-need-college/ aptly puts it
“Of course, just because these people made it does not of course mean that most people can do without a college degree. If you’ve got an entrepreneurial spirit, the degree is just a backup.”
Read some statistics that people with a degree earn on average more, not a surprise here, but also they have a better health and they are more content.
However, statistics.
2. December 2009 at 11:21 pm
@Erica:
Let’s see. I agree that running a business and getting an education are not necessarily related, depending on the type of business. I agree that you can have a successful business with little formal education and that the best way to learn about your business is to dive in and get on with it.
I don’t argue that a degree is an insurance policy either, nor that you should go to university for the contacts and parties. These things are ancillary if you want to enjoy them while you’re there, but not what I was getting at. I would also agree that owning your own business and being great at sales are better insurance policies.
Reading business books and paying for marketing conferences are great business things to do and, while they are a certain type of applied education which is very relevant to your business, they’re not a degree.
A degree is useful, interesting and a good idea regardless of whether someone knows or doesn’t know what they want to do in the business area of their life because it expands your mind and teaches you to think properly: in a broader way which expands your life horizons and intellectual capacity.
Clearly each person is free to choose their own path though.
Saludos from Murcia!
3. December 2009 at 11:00 am
Hi, Erica.
I’d read the first paragraph and was in agreement. College is NOT for everyone, especially for those who actually do know what they want and doubly so for those who don’t learn well in the normal verbally linear educational system.
I did not want to go to college right out of high school. I wanted to learn to work with my hands. I gave several choices to my mother; but nothing would do but I attend the university. And you’re right, nobody could tell me why. I didn’t even get to find out what the difference was between a university and a college until just before I was asked to ‘take a semester off’.
Yes, I learned a lot those 3 semesters at university. I learned how to live dishonorably, how to avoid the things I wanted most because I didn’t know how to do the social interaction thing. I learned I loved geology with it’s rocks and timelines and the connection with old civilizations. I loved geology almost as much as I wanted to teach kids how to talk (being what is now called autistic, I knew the importance of learning clear speaking). The most heart rending thing I learned in university was that counselors laugh at students. Mine laughed at me when he did not understand that I was not asking for classes that would encompass both speech therapy and geology. Rather I was looking for counsel on these diverse careers. He could only gasp that ‘they’re in different colleges’. H. I thought I was in college. Even if the counselor had not laughed, there’s no guarantee I would have stayed to graduate, but I might have, maybe.
If I’d graduated certainly my life would be different than it is. But there’s been a dream in my heart since I sold my first line of products at age 6. I wanted a business of my own.
I can make up lots of probably good reasons why I’m not yet a millionaire of my own making. Leaving college is not one of them. With a 4 or 6 year degree, I would be making more money than I am now and it’s remotely possible that I would by now have my own niche in the field that I’d have been employed in all these years. That vision does have it’s attractions.
But I have made my own life. I have had and do have my own businesses. I did go back to college in my late 50’s and received an AAS in Furniture Design. That felt good and went a long way to getting rid of the ‘failure’ stigma from not doing what Mom wanted me to do.
I really and truly did want to be a truck mechanic at one time, but would have settled for becoming a beautician. Go ahead, smile. I can’t picture those two careers working together either, I mean, they are in different colleges.
Live your own life. Enjoy it. Rejoice in being the person you are. Dream your own dreams and never give up reaching for them. You still win if you aim for stars but catch the moon.
Love and Light,
Pat
3. December 2009 at 3:14 pm
Erica – I completely agree. This made me think of an article from the 70’s that I read in my High School AP English Class. College is a Waste of Time & Money – http://www.grossmont.edu/bertdill/docs/CollegeWaste.pdf
3. December 2009 at 4:18 pm
You don’t have to go to college. This isn’t Russia. Is this Russia? This isn’t Russia.
3. December 2009 at 9:14 pm
Hi Erica,
Such an interesting debate. I work with teenagers everyday and most of them will have a hard time coping with college let alone any kind of business or job. Most 18 year olds need college to learn about what they are interested in, how to work, how to learn, how to organize themselves, ie. how to get somewhere on time without their Mom’s help. Very few teenagers have a clue what they want or how to get it. You are quite rare.
I am definitely in the “go to college” camp, but I am finding it difficult to explain why. I believe college exercises your mind in such way that it never quite shrinks back to the purely mundane. Once you have earned a college degree you have learned to learn, acquired critical thinking skills, and been exposed to a myriad of differing ideas. It’s not the only way to do these things, but most of us wouldn’t do them on our own.
A lot of what we learn in college seems irrelevant at the time, but then you experience something and you are able to understand it and put it into context because of what you learned in a college class. We need so many things to cope in this world, and we don’t know what it is we will need. College can provide some experience, knowledge, and skill that you can’t envision until you’ve been there. If you don’t have the kind of clear vision that you have Erica, then you need all the help you can get. Be careful that the what you can see now isn’t obscuring other possibilities that you can’t yet imagine.
4. December 2009 at 1:34 am
Just read this related article in The Times which you will all enjoy. Very relevant to our comments.
http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article6943355.ece
By the Duke of Edinburgh, no less, but saying sensible, interesting things about our subject and not his normal stupid, televised gaffes about becoming slitty-eyed if you study in Japan for too long.
4. December 2009 at 8:23 am
@Matthew Bennett
Love that article. This portion especially resonated with me:
“while our present system of training engineers is fine for those who may have a burning ambition to become professional engineers…”
I am an electrical engineer and to graduate you have to want it. A lot. I knew many students that dropped out… one in his final quarter. Decided he wanted to go into psychology! I didn’t understand why he wouldn’t just push to graduate then go after his career of choice or even one of the many “engineer lite” kind of jobs available. Consider also that I chose Cal Poly, SLO which is known for it’s motto, “Learn by Doing.” It has more lab hours and hands on projects than most schools. I wonder if the drop out rate is higher at schools that are more esoteric…
An example of an engineering school working to change the typical approach to engineering is Olin College.
Also, have you heard the story of the 14 year old from Malawi (Africa) built a windmill from spare parts using information from a library book. Now his family has electricity!
On TED TV: http://www.ted.com/talks/lang/eng/william_kamkwamba_on_building_a_windmill.html
5. December 2009 at 3:09 pm
You don’t have to go to college to succeed as an entrepreneur, but you do have to be someone who works hard and diligently to obtain the things you want in life. Most entrepreneurs invest a lot of time and focus on learning and experiencing through trial and error. They’re people who brainstorm and analyze continually. They study hard to turn dreams into realities. They have stick-to-it-ness, not necessarily meaning that they won’t give up if something isn’t working, but they don’t give up on the fight to win out in the end. They’re the turtles that may be slow, but in the end finish the race. So, no college isn’t a requirement, but it is a helpful learning tool that provides more learning experiences (which is never a bad thing) and it certainly does open up more doors and broaden the spectrum for opportunities.
Cathleena
http://www.cathleena.net
5. December 2009 at 3:18 pm
Another relevant article, more for the US this time – but also applicable to the UK and Spain given the current state of affairs over here – by Bob Herbert in the NYT, talking about a new fee-free Educational Leadership PhD programme at Harvard:
http://www.nytimes.com/2009/12/05/opinion/05herbert.html
“We are turning out new generations of Americans who are whizzes at video games and may be capable of tweeting 24 hours a day but are nowhere near ready to cope with the great challenges of the 21st century.”
6. December 2009 at 12:50 pm
I got in my fair share of trouble during school as well. The best one was around 2nd grade when my teacher said the seasons were caused by earth being closer to the sun in the summer and farther in the winter. I told her she was wrong and the perihelion ( http://simple.wikipedia.org/wiki/Perihelion )was in December. Yea, conduct note for me that day. :/
But, for me, college was a place to make some connections and learn “Adulthood lite.” Some people are ready for adulthood earlier than others, but those 4.5 years helped me ease into bigger responsibilities.
7. December 2009 at 9:09 pm
I could debate both sides and depending on the child, probably would win. What makes you unique – is the from an early age – you ‘knew’, a reader! – take charge mentality and you didn’t listen to the tribe telling you what they thought you should do!
you are one in a million! You Go Girl!
by the way – you can still go to college if you feel like it
8. December 2009 at 8:52 am
I am an entrepreneur, and I’m pretty sure I was just born that way. (I think the first thing I tried was selling polished rocks dunked in perfume to the neighborkids when I was about 7.) I also have a Master’s degree that I got for fun.
So I’m kind of coming at this from two perspectives. I did very well in high school despite an (unrecognized) disability, and it was just assumed I would go to college, and so I did. I didn’t enjoy undergraduate school at all, and didn’t do all that well either. But I thought it was necessary, and that it sure wouldn’t hurt. (I had a full scholarship, so it was free anyway.)
But did college actually help me in any other way? Not really. But being able to check “college graduate” did. I think it’s good to go for networking purposes and to help you get a job easier if you ever need to, because let’s face it, most entrepreneurs are not wildly successful with the first thing they ever try.
9. December 2009 at 4:36 am
What I’ve learned at school there didn’t help me for my business (offline or online).
Not very useful when you think about it… I learned more from my martial art classes.
Franck
10. December 2009 at 9:28 am
I think it ultimately comes down to the individual person… if you have a clear idea what you want to do and how to do it (without a college education) then go for it…
Most people start going to college to figure out what they want to do, even then they still might not decide.
It’s true that starting an online business doesn’t require a college education and will cost you a lot less to learn what you need to do to be successful…
Your job is to take it seriously and work at it in order for that to happen
11. December 2009 at 6:04 am
I believe aspiring entrepreneurs are better off NOT going to college. I’ve chewed on this issue a bit in an older post: http://bit.ly/O8z23
Thanks Erica!
s.c.
11. December 2009 at 6:11 am
If you know what you want to do, you should get the education that is required for that position. If it’s running a business, perhaps you figure out the information you need by going to the library or taking a college level course on taxes for small business, but business owners don’t need to present a diploma like you might need to gain entry into other fields.
12. December 2009 at 7:17 am
Here’s my thought on this.
I am 40 years old and have 10 years of college under my belt. I have always been self employed and I’m currently UNEMPLOYED. Today, I’m starting from scratch again and starting over in another self employment situation.
Has 10 years of college helped me?
18. December 2009 at 10:49 am
Wow.
Such a naive comment. “I don’t need college”. How do ‘you’ know what you haven’t experienced?
I started out online aged 15 – made a ton of mistakes, but after 10 months I’d built a top 1% traffic website and flipped it for cash. Happily I plunged the money into more website projects – now aged 16, I’ve a strong idea of what internet projects I plan to create and build a prospering online business.
But I still want to go to University…
University life apart from anything, but the opportunity and indulgence in learning. When and why would you ever want to stop learning, and in such great detail. Do you have a hobby or a passion you’d love to know more about?
Young entrepreneurs should develop their businesses throughout their youth and then see them flourish when they’re ready to commit to them full time. That’s what I encourage here: http://www.how-to-build-a-website.co.uk/teenage-part-time-jobs.html
21. December 2009 at 6:47 am
Yes I think a little school will help anyone to get there mind set to the right place to help them to get to there goal, with that being said school ois not a requirment because there are tons of people making ton more of money in any business and didn’t even make it throw high school
23. December 2009 at 3:43 pm
Thanks for the posting. I think any type of education is important. College or otherwise. Is it good to pick up some type of business degree if you’re running a business? well, sure…it certainly wouldn’t hurt.
27. December 2009 at 6:47 pm
I think college is important, and encourage my own children to go for it. But, neither I nor my husband attended college and we’ve been blessed with great careers. I do wonder how our lives would be different if we did go to college.
29. December 2009 at 5:20 am
well erica, i’m inspired by your story, would wanna meet you. I have also read the post from others. I believe life is spiritual more than physical. It’s not what you hear but how you hear…. also, how you see. The bible says,” the race is not to the swift, nor the battle to the strong but TIME and CHANCE happeneth to them ALL. Wisdom is the principal thing. Wisdom is the capital. Time and chance refers to opportunity. Erica believed with her spirit and held the vision. Thank God she undercharged at first becos, it helped her learn more and gain numbers… so many other principles i noticed. Folks, How do you know you are going to be rich, how do u know the future? The anchor for life is the WORD OF GOD. Jesus said, ” all things are possible to him ( ANYONE) that believes.
The point is , if you have a vision that you believe in, talk about it. declare that the materials, finances, people etc are coming to you. create the future with your mouth. Also read biographies, underscore the principles, get knowledge, be the best, give thanks, help many people. The end result is you will know the secrets of that endeavour…. because you did what other people werent doing.
16. January 2010 at 1:50 am
It was a lengthy post but honestly it was worth reading, I was actually touched when you shared your conversation with your mom and continued reading it. It all boils down to one, education could help a lot but there are various ways to learn, it’s more of the character of the person. If you know what you want and you believe you could do it, then go for it.
16. January 2010 at 9:30 am
The post is really worth reading, thanks for sharing your conversation with your mom as it resembles somewhat to my past.
Education is must but it should include much of practical experiences not just mugging up the books.
11. February 2010 at 9:38 am
My dad never went to college but was self taught in his trade and was a successful entrepreneur. I went to college, enjoyed it and have a good job but I have never started a business. My advice is if you want to start a business teach yourself what you need to know and do it. You can always go to college later if you feel there’s anything you missed out on.
16. February 2010 at 1:54 pm
Hi Erica,
I got a little teary-eyed reading your post; I am like that about authentically true stories. I didn’t make it past the first year of college. That first year was filled with angst and I was hiding out from the real world. Well, I continued to hide out for a long time and it took a while to reconcile all the childhood trauma with adulthood.
Whether one goes to college or not has very little to do with success. College is a weigh-station (or way-station), a place to figure stuff out, albeit in today’s MODERN world, a very expensive place to figure stuff out.
The crowning gem of the entrepreneurial universe is having access to start up capital even if you are bootstrapping using credit cards. The great thing about all things digital is that start up costs are very small and full fledge business can be run from a bedroom with a laptop. Testing an idea can be done for $100 or less.
A young person may not be experienced enough with paying the bills to know what it means to undertake such a venture and maturity does come with age for some of us.
So I am not sure whether it’s the right question, whether a young entrepreneur should go to college or not. You and Billy Gates, neither one of you no-goodniks ever finished college.
Ultimately having good parents, good counsellors, and good sense of self will make the decision easier. I have ten kids. Some have college degrees, some don’t. It’s the mindset, the intention, the inner knowing that will bring the answers to this and other sobering questions about life on planet earth.