Entrepreneurs - You Might Want To Drop Out Of College

Title:Entrepreneurs - You Might Want To Drop Out OfCollegeWord Count:1010Summary:Young entrepreneurs and business owners are oftentimes faced with the choice of which road to take.On one hand, there is the more conservative routeof staying in college and getting a degree. On theother hand, many have thriving businesses thatare making more money than their degree will everget for them. Is college simply a hindrance? Oris it a valuable resource that should be continuedat all costs. Many college business owners don't

even realize they have the choice...Keywords:entrepreneur, business, collegeArticle Body:Young entrepreneurs and business owners are oftentimes faced with the choice of which road to take.On one hand, there is the more conservative routeof staying in college and getting a degree. On theother hand, many have thriving businesses thatare making more money than their degree will everget for them. Is college simply a hindrance? Oris it a valuable resource that should be continuedat all costs. Many college business owners don'teven realize they have the choice of dropping out.Knowing this option is there could be vital to thesuccess of their future business. If you are incollege and are an entrepreneur or business owneryou must ask your self this question: should I

drop out of college?The answer to this question often comes in manyforms from many different people. I was recentlyat an entrepreneurial conference and had theopportunity to discuss this matter with many richentrepreneurs. The answers I was getting fromthem were vastly different from those that myfamily had given me. On the one side I was beingtold that college is only useful if you aregetting something out of it, and that if I wasserious my businesses should take priority overschooling. From the family side I was being toldto stay in school no matter what, put schoolingat the forefront - there will always be time forbusiness and it will be good to have a safe backup.Both of these answers have their merits, but whichone is right?. It became clear to me that it wasmy decision- not the other wealthy entrepreneurs,and not your family.Why are you in college?

This question is the fundamental element in thedecision to drop out of college. Entrepreneursmust figure out the reality of why they are incollege before making a decision to drop out. Somebusiness owners are in college because theirparents told them to go there, or because theydidn't realize they had the choice. Other youngentrepreneurs are in college because they findthe information valuable and want to continuelearning while they expand their business. Evenmore still had childhood dreams of one day beingan engineer or architect and want to followthrough with their early ideals. You must answerthis question truthfully and honestly if you aregoing to make a choice about running your businessfull time or staying in college.Why Do You Want to Drop Out?It is very important to understand exactly why youwant to drop out. Many business owners andentrepreneurs have vastly different reasons fordropping out of college and it is key that you

understand yours. I have often fielded thisquestion in conversation, and many times a youngentrepreneur will want to drop out of college onpure speculation. This is never a good ideawithout a solid business plan. I recommend havinga solid business plan and some backups in theleast, as well as some plans for continuedlearning of business skills. Dropping out is arisky decision - entrepreneurs will understandand easily accept this fact. Understanding andaccepting risk is part of being an entrepreneurand starting new businesses. I have also talkedwith many entrepreneurs who already have milliondollar plus income, and are thinking aboutdropping out in order to focus more on theirbusiness. This instance presents an entirely newset of questions. Whatever your reasoning makesure that you understand and research yourposition.Here is the Secret to Making the DecisionIt all comes down to balancing the two sides of

the argument. If you've figured out both yourreasons for being in college and your reasons fordropping out and starting a business, then you caneasily make a decision. The trick is to look ata list of both sides: your reasons for being incollege and your reasons for going out andbecoming an entrepreneur. If either side hasreasons that aren't your own, or that have doubtin them, then you will most likely pick the otherside. Here is an example situation, look at thetwo lists and decide what the student should do.Student A - Reasons to Stay in College:- My parents are paying for it, and they would flipif I left- Everyone I know is in college, it would be weirdto leave.- A degree might give me some security later on.Student A - Reasons to Drop Out and PursueBusiness- 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 letme expand fasterI think it is fairly clear in this setup that wehave an entrepreneur at heart. There is doubt inthe reasoning behind college, and he also doubtsthat 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 anentrepreneur and he only wants to build hisbusiness more. There is certainty andunderstanding in his tone. With this situation itseems very likely that the student would be farbetter off dropping out of college and pursuinghis business goals.The case is almost never as cut and dry as thesituation above, most young businessmen have farmore complicated setups. Even with thecomplications, 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 positionthen you will know exactly why you want to dropout and that it will be better for you. Or, youwill know that staying in college will teach youmore about business and let you grow faster outof college. I will leave you with one last thing.Listen to your own thoughts, and pick the paththat you know is better for you.