Entrepreneurs You Might Want To Drop Out Of College

Entrepreneurs - You Might Want To Drop Out Of College
Young entrepreneurs and business owners are often times faced with the choice of​ which road to​ take .​
On one hand, there is​ the more conservative route of​ staying in​ college and getting a​ degree .​
On the other hand, many have thriving businesses that are making more money than their degree will ever get for them .​
is​ college simply a​ hindrance? Or is​ it​ a​ valuable resource that should be continued at​ all costs .​
Many college business owners don't even realize they have the choice of​ dropping out .​
Knowing this option is​ there could be vital to​ the success of​ their future business .​
If you are in​ college and are an​ entrepreneur or​ business owner you must ask your self this question: should I​ drop out of​ college?
The answer to​ this question often comes in​ many forms from many different people .​
I​ was recently at​ an​ entrepreneurial conference and had the opportunity to​ discuss this matter with many rich entrepreneurs .​
The answers I​ was getting from them were vastly different from those that my family had given me .​
On the one side I​ was being told that college is​ only useful if​ you are getting something out of​ it, and that if​ I​ was serious my businesses should take priority over schooling .​
From the family side I​ was being told to​ stay in​ school no matter what, put schooling at​ the forefront - there will always be time for business and it​ will be good to​ have a​ safe backup .​
Both of​ these answers have their merits, but which one is​ right? .​
It became clear to​ me that it​ was my decision- not the other wealthy entrepreneurs, and not your family.
Why are you in​ college?
This question is​ the fundamental element in​ the decision to​ drop out of​ college .​
Entrepreneurs must figure out the reality of​ why they are in​ college before making a​ decision to​ drop out .​
Some business owners are in​ college because their parents told them to​ go there, or​ because they didn't realize they had the choice .​
Other young entrepreneurs are in​ college because they find the information valuable and want to​ continue learning while they expand their business .​
Even more still had childhood dreams of​ one day being an​ engineer or​ architect and want to​ follow through with their early ideals .​
You must answer this question truthfully and honestly if​ you are going to​ make a​ choice about running your business full time or​ staying in​ college.
Why Do You Want to​ Drop Out?
It is​ very important to​ understand exactly why you want to​ drop out .​
Many business owners and entrepreneurs have vastly different reasons for dropping out of​ college and it​ is​ key that you understand yours .​
I​ have often fielded this question in​ conversation, and many times a​ young entrepreneur will want to​ drop out of​ college on pure speculation .​
This is​ never a​ good idea without a​ solid business plan .​
I​ recommend having a​ solid business plan and some backups in​ the least, as​ well as​ some plans for continued learning of​ business skills .​
Dropping out is​ a​ risky decision - entrepreneurs will understand and easily accept this fact .​
Understanding and accepting risk is​ part of​ being an​ entrepreneur and starting new businesses .​
I​ have also talked with many entrepreneurs who already have million dollar plus income, and are thinking about dropping out in​ order to​ focus more on their business .​
This instance presents an​ entirely new set of​ questions .​
Whatever your reasoning make sure that you understand and research your position.
Here is​ the Secret to​ Making the Decision
It all comes down to​ balancing the two sides of​ the argument .​
If you've figured out both your reasons for being in​ college and your reasons for dropping out and starting a​ business, then you can easily make a​ decision .​
The trick is​ to​ look at​ a​ list of​ both sides: your reasons for being in​ college and your reasons for going out and becoming an​ entrepreneur .​
If either side has reasons that aren't your own, or​ that have doubt in​ them, then you will most likely pick the other side .​
Here is​ an​ example situation, look at​ the two lists and decide what the student should do.
Student a​ - Reasons to​ Stay in​ College:
- My parents are paying for it, and they would flip if​ I​ left
- Everyone I​ know is​ in​ college, it​ would be weird to​ leave.
- a​ degree might give me some security later on.
Student a​ - Reasons to​ Drop Out and Pursue Business
- I​ have a​ solid business plan and have been working on it​ for months
- My income is​ almost half of​ my parents already
- Having more time to​ work on business would let me expand faster
I think it​ is​ fairly clear in​ this setup that we have an​ entrepreneur at​ heart .​
There is​ doubt in​ the reasoning behind college, and he also doubts that he will even need the security of​ a​ degree .​
The second list is​ much more profound and certain .​
This student knows he will be successful as​ an​ entrepreneur and he only wants to​ build his business more .​
There is​ certainty and understanding in​ his tone .​
With this situation it​ seems very likely that the student would be far better off dropping out of​ college and pursuing his business goals.
The case is​ almost never as​ cut and dry as​ the situation above, most young businessmen have far more complicated setups .​
Even with the complications, the end result is​ always the same .​
Follow the path that you are sure of​ in​ your heart .​
If you are an​ entrepreneur in​ the right position then you will know exactly why you want to​ drop out and that it​ will be better for you .​
Or, you will know that staying in​ college will teach you more about business and let you grow faster out of​ college .​
I​ will leave you with one last thing.
Listen to​ your own thoughts, and pick the path that you know is​ better for you.

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