When comparing GPAs (Grade Point Average) in college, an often provided consolation to low grades is the idea that there are many successful billionaires in the world, who were essentially college dropouts. Be it the massively successful entrepreneurs like Apple’s Steve Jobs or Mark Zuckerberg of Facebook (and many more social forums), these have become common names to make the idea of dropping out seem enticing i.e. a fantasy.
Consequently, a myth has developed within the millennial student crowd: Education is no longer important to succeed in career paths. People have developed thinking that business ideas and skills are what matter the most, and if we possess these, we are bound to be successful. Thus, when enlightened by a start-up idea during college, many students opt to leave college to pursue their businesses with full devotion, rather than having to crudely divide time amongst study and entrepreneurship.
However, it is essential to understand that the college drop-out billionaire myth remains an anomaly of society, and isn’t bound to occur each time a student drops out to pursue their business. This is due to many reasons:
- Survival is tough
If someone thinks leaving college early and entering the industry on their own will be peanuts, they are greatly mistaken. Every business requires capital and human investment. Which means skills aren’t the only factor necessary to ensure success for the business. When in college, students primarily have their basic needs of shelter and food are taken care of, which are two fewer things to worry about than having to do everything on their own if they drop out.
- Facilitative Alumni Network
Business success cannot be achieved alone. One needs the help of friends, family, and contacts. These contacts are made by the beneficial alumni network of every college. As students coordinate with people working in the industry their wish to enter, they have first-hand knowledge of what is to come and can thus be better prepared for it.
- Education is Important
Regardless of the idea that ‘a piece of paper does not decide my future’, education is important. One may possess skills, but to gain technical knowledge and polish those skills, degree programs come into use.
In the Forbes 400, merely 44 people were college dropouts, whilst 362 other billionaires had a sound educational background. This means although college dropouts may become billionaires, the link isn’t well-based and doesn’t ensure an ALWAYS positive outcome. Know more