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    7 Replies Latest reply on Oct 20, 2009 12:26 AM by TheSoloGuide

    do you need a formal education to be successful?

    jayben Wayfarer
      our parents tell us to go to school for a good education, so you can get a good job. but what about the Billionaires who never went or dropped out? Are they just a select few or can everyone do that?

      i personally think they are a select few and not everyone is made to be an entrepreneur. what do you think?
        • Re: do you need a formal education to be successful?
          phanio Pioneer
          Being successful really only depends on you. How many times are you willing to get back up after being knocked down? How hard are you willing to work at your own success. Education does not automatically make you a success - but, learning the right skills can help you along the way.

          Quick story - when I was in grad school - I meet a young lady who grew a successful business out of the basement of her mother's houses. When she cane to speak to our MBA class - the first thing she said was - 'over the last two years, I have earned several MBA's by just simply working in my business!'

          It does not matter where you learn - education can from anywhere. What does matter is that you are willing to learn and open minded enough to realize that learning can come from anywhere. Even the village idiot can teach you something if you are willing to listen.

          Business Money Today

            • Re: do you need a formal education to be successful?
              Iwrite Pioneer
              Phanio is so right. It is more about the passion and drive in you and less about the education. I work with people everyday that are as smart as can be but lack the drive and passion to make their businesses work. They have all the tools except the most important one - heart.

              Now there are some things you might want to learn in school, but you can learn them outside of school. But understand the lessons outside of school tend to be harder. Failure is a great teacher and developer of character, it will either make you strong or break you. School allows you to study, learn and grow from what others have done, both good and bad. Why go through something you can learn to avoid? I rather sit in a class and learn about someone else having to pay back taxes and penalties than to have to learn how important it is to pay your taxes on time while sitting across from the IRS. No one wants that experience, no one.

              Phanio gave you some great advice - look for ways to learn from everyone. Good luck.
              • Re: do you need a formal education to be successful?
                CIGGlobal Newbie
                The qualities needed to succeed as a independent Business owner are not taught in a formal educational Institution. Colleges and Universities prepare students for employment.
              • Re: do you need a formal education to be successful?
                jayben Wayfarer
                i agree with each of you. the drive within and your determination to do it will help along the way. but in today's world a demand for educated people is starting to raise more and more...i think however to have success in your business is making your job enjoyable. you have to love what you're doing to succeed at it. and to make work enjoyable for those around you. your employees will work twice as hard if they enjoy what they're doing.
                • Re: do you need a formal education to be successful?
                  JasonTees Wayfarer
                  Do you NEED a formal education? No. Can it hurt to have an education to fall back on? Certainly not.

                  I left the corporate world to start my own business, and when it failed, I had my education to fall back on and I went back to the corporate world. So did education cause my business to succeed? No, but it gave me plenty of options, and it's always good to have options in life.

                  There aren't too many people who regret having gone to college, but there are millions who regret that they skipped it.

                  Today's Blog Topic: Should I Close My Business?
                  • Re: do you need a formal education to be successful?



                    Here are some common characteristics of successful entrepreneurs:


                    • Passionate
                    • A drive to succeed
                    • Self-confident
                    • A high level of energy
                    • Self-motivated
                    • A thirst for knowledge and creativity
                    • Competitive
                    • A focus on the goals and not the obstacles
                    • Open to outside advice
                    • Effective at problem solving
                    • Resourceful
                    • Ability to make decisive decisions quickly


                    Are people born with these qualities or do they learn them through formal education? I believe that education is extremely important - whether formal or not. For some, the answer is college while others go straight to work. Either way can work, it depends on the individual and their best way to learn.


                    However, whether a person goes to college prior to work or jumps straight in, I believe that participating in on-going education is a necessity. Fortunately, there are numerous options from seminars, webinars, informational ebooks, and forums.


                    All the Best,


                    Doug Dolan


                    The Solopreneur's Guide