Why young entrepreneurs and non-entrepreneurs need to focus skill development over traditional education

As Eric Ries, author of The Lean Startup, once said, "Our educational system is not preparing people for the 21st-century. If you work hard, you can get an 'A' pretty much guaranteed, but in entrepreneurship, that's not how it works"

This quote is in reference to the modes and methodologies of traditional education and how the systems are failing students by presenting outdated information during a time period that should be utilized for real-world growth through experience.

The fallacy of universities

I, personally, decided not to attend college because I thought, and still think, that I can acquire a better education through experience. In the true nature of an entrepreneur, I figured that if I simply played the trial-and-error game I would be able to gain a more diverse skillset along with the knowledge that would help me succeed in life. 

When confronted with the statement, “You can build your business while getting an education at a university”, I present a conclusion that I drew from my own personal experiences that, “Focus is one of the most important traits to have, and if you are not focused, you will be on the fast-track to failure.” Therefore, by splitting your time between two intensive tasks, you will remove the focus from each and in-turn lower your chances for success in both.

While universities provide tried-and-tested knowledge, they don’t offer experience or relevant information. This concept, while unsettling, should be taken into consideration, especially when the majority of students that enter universities are at an age where they are interested in working hard and are willing to take on the most risk. Holding a student hostage from real-world experience, while draining their bank accounts, should be seen as an unnecessary prerequisite to starting a career.

The truth is, technology is outpacing education and by the time a student graduates the chances that they will utilize the information they were taught will already be outdated, and businesses are noticing.

Life is short, and experience is easy to come by!

If someone wants to learn, they can do so now more than ever. Why spend 4 or more years at a university when information is so easily accessible? From taking eLearning courses to getting remote internships, to obtaining information from credible business professionals on LinkedIn, the internet is enabling entrepreneurs to grow their minds and their skills from the comfort of home. 

Advancements in technology are making it possible for inspiring entrepreneurs to learn new and relevant skills on their own and companies are acknowledging this trend. In return, organizations are hiring the more skillful and experienced employee rather than the traditionally educated ones.

In a well-respected video titled Shift Happens, researchers Scott McLeod and Karl Fisch concluded that 65% of children entering primary school will ultimately end up working in completely new job types that don’t currently exist. In the fast-paced world that we are living in, the ability to anticipate and prepare for future jobs is a must and universities don’t have the capacity to compete with innovation.

This realization has invoked entrepreneurs, like Thomas Bachem, to start schools that educate students in innovative ways, increasing their chances for success. Bachem states, “The reason why we see so few innovations in the educational system is that it is a regulated governmental system. As an entrepreneur, I think we should open this up to more innovation, to more private ideas and keep the spirit that education should be free but still use private innovation.”

Universities need a drastic overhaul and people, like Thomas Bachem, who are teaching relevant and innovative content is the change the world needs that will ultimately keep students striving to create and apply for the jobs of tomorrow.

Conclusion

While entrepreneurship is not for everyone, an entrepreneurial mindset can be beneficial to all. The basic building blocks of successful entrepreneurs can help the ordinary become extraordinary. Through a mindset that consists of autonomy, motivation, focus and, most of all, purpose, skillful and well-rounded professionals can be developed without the use of traditional methods of education.