Comments on: Is a college degree worth it? http://7million7years.com/2009/10/12/is-a-college-degree-worth-it/ How to make 7 million in 7 years ... Sat, 11 Feb 2012 22:32:23 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By:   Is a College Degree Worth the Investment? by StimulusResource.org http://7million7years.com/2009/10/12/is-a-college-degree-worth-it/comment-page-1/#comment-3906   Is a College Degree Worth the Investment? by StimulusResource.org Mon, 23 Nov 2009 18:28:37 +0000 http://7million7years.com/?p=3312#comment-3906 [...] Cartwood, a blogger at 7million7years.com, questioned about the extra 4 years a high school graduate has in the workforce while the college students are [...] [...] Cartwood, a blogger at 7million7years.com, questioned about the extra 4 years a high school graduate has in the workforce while the college students are [...]

]]> By: Adrian http://7million7years.com/2009/10/12/is-a-college-degree-worth-it/comment-page-1/#comment-3671 Adrian Tue, 13 Oct 2009 16:03:13 +0000 http://7million7years.com/?p=3312#comment-3671 Thanks for the comments; I think that we all agree that the answer is obvious: go to college and start a business on the side!? Thanks for the comments; I think that we all agree that the answer is obvious: go to college and start a business on the side!?

]]> By: Modder http://7million7years.com/2009/10/12/is-a-college-degree-worth-it/comment-page-1/#comment-3669 Modder Tue, 13 Oct 2009 13:40:29 +0000 http://7million7years.com/?p=3312#comment-3669 Two thoughts: a.) Education helps entrepreneurs In a recent analysis by the Manufacturing Institute, it was shown that the single most important contributor to a company's innovation output (and in turn, commercial success) is the education of its workforce. The more educated, the more innovative, the more commercially successful. b.) Education helps entrepreneurs who fail Higher education is a Very Good Thing because on average it will drive a better financial outcome for the individual (as you state above). Is a degree a mandatory requirement to entrepreneurial riches? No. Does having a degree diminish your chances at entrepreneurial success? No. If you belong to the 90% of people who do not succeed at entrepreneurship - will you be better of with an advanced degree? Hell yes! Lets face it - most entrepreneurs fail. Entrepreneurial success a function of effort, luck, and stubbornness. Very few people have the right combo to succeed. If you do fail, your landing is much softer if you have a good education vs. just high school or less. Hence, you improve your overall outlook on success (regardless whether as entrepreneur or not) by getting a degree. Two thoughts:

a.) Education helps entrepreneurs
In a recent analysis by the Manufacturing Institute, it was shown that the single most important contributor to a company’s innovation output (and in turn, commercial success) is the education of its workforce. The more educated, the more innovative, the more commercially successful.

b.) Education helps entrepreneurs who fail
Higher education is a Very Good Thing because on average it will drive a better financial outcome for the individual (as you state above). Is a degree a mandatory requirement to entrepreneurial riches? No. Does having a degree diminish your chances at entrepreneurial success? No. If you belong to the 90% of people who do not succeed at entrepreneurship – will you be better of with an advanced degree? Hell yes!

Lets face it – most entrepreneurs fail. Entrepreneurial success a function of effort, luck, and stubbornness. Very few people have the right combo to succeed. If you do fail, your landing is much softer if you have a good education vs. just high school or less.

Hence, you improve your overall outlook on success (regardless whether as entrepreneur or not) by getting a degree.

]]> By: Rick Francis http://7million7years.com/2009/10/12/is-a-college-degree-worth-it/comment-page-1/#comment-3667 Rick Francis Tue, 13 Oct 2009 04:55:44 +0000 http://7million7years.com/?p=3312#comment-3667 Adrian, Sorry I haven't posted in a while- I've been busy trying to get my own blog started. It seems to me that there is a serious gap in our educational system. Most of a college degree doesn't really help starting your own business... Business schools are far too expensive, require undergraduate degrees, and really seem to be targeting large corporation CEOs. Why isn't there a vocational school for entrepreneurs? A two year degree that would teach real world business skills quickly, give young entrepreneurs some confidence, a bit of experience, and teach them about common mistakes as well? Ryan, I've heard the networking argument- but I haven't even heard of very good examples. How many of your college friends went into the same specialized area you did? -Rick Francis Adrian,

Sorry I haven’t posted in a while- I’ve been busy trying to get my own blog started.

It seems to me that there is a serious gap in our educational system. Most of a college degree doesn’t really help starting your own business… Business schools are far too expensive, require undergraduate degrees, and really seem to be targeting large corporation CEOs. Why isn’t there a vocational school for entrepreneurs? A two year degree that would teach real world business skills quickly, give young entrepreneurs some confidence, a bit of experience, and teach them about common mistakes as well?

Ryan,

I’ve heard the networking argument- but I haven’t even heard of very good examples. How many of your college friends went into the same specialized area you did?

-Rick Francis

]]> By: Ryan http://7million7years.com/2009/10/12/is-a-college-degree-worth-it/comment-page-1/#comment-3663 Ryan Mon, 12 Oct 2009 17:51:33 +0000 http://7million7years.com/?p=3312#comment-3663 I think this is one of those things where the truth cannot be told by the numbers alone. While I have no doubt that a non-college grad COULD earn as much if not A LOT more than a grad (many of the world's smartest and richest people dropped out of school). I believe it is significantly easier to do so with the degree. Some of these intangible reasons why could include: People from more affluent and/or successful families are statistically more likely to attend college. It is from this pool of people that you will develop lifelong friendships with, work with, compete against, and conduct business deals with. In addition, having a high paying job is not essential to become an entrepreneur or investor, but it certainly doesn't hurt. Many, if not most, high paying jobs require a college degree. I think this is one of those things where the truth cannot be told by the numbers alone.
While I have no doubt that a non-college grad COULD earn as much if not A LOT more than a grad (many of the world’s smartest and richest people dropped out of school). I believe it is significantly easier to do so with the degree.

Some of these intangible reasons why could include:
People from more affluent and/or successful families are statistically more likely to attend college. It is from this pool of people that you will develop lifelong friendships with, work with, compete against, and conduct business deals with.
In addition, having a high paying job is not essential to become an entrepreneur or investor, but it certainly doesn’t hurt. Many, if not most, high paying jobs require a college degree.

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