“Formal education will make you a living; self-education will make you a fortune.” – Jim Rohn
I have a confession to make. About 3 years ago, I went to University and only lasted two weeks. Yes, two weeks! Now you're probably wondering why I didn't stay longer, especially when I'm so big on persistence and success. So let me share my experience with you and why in those two weeks I learned more than I would have if I completed my University studies.
Getting Into Uni
Back in 2011, I was working an unfulfilling job and I wanted so much more in life. So I set the intention that I wanted to create great financial success. Shortly after, I attracted a business opportunity that changed my reality of what was possible.
In my business, I ended up making some money over the next few months, which was awesome. However, my dad had always been big on his children going to University. I had never gone because I got bad grades in school and couldn’t get in. At one point, I knew a friend who got into University through an alternative method and, after speaking with him, what he was studying appealed to me and I started to picture myself climbing the corporate ladder and making my dad proud.
So now I had a new vision for my life – to get into University, study International Business and climb that corporate ladder so I could make a lot of money and have that “corporate status”. It was an exciting idea, so I applied and I got in. I was officially a Uni student, ready to take on the responsibility of student debt (ouch).
Lesson 1 – Uni teaches you to think small
The first thing I learned was how small everyone’s thinking was in the class. The students would often talk about how they can’t wait to make $100,000 per year when they get a good job after their University studies. It was like that figure would be a huge accomplishment for them. The lecturer also made repeat statements of how they could one day get a super high paying job of $200,000 per year.
This was a massive put off for me. Yes, I wasn’t making either one of those two figures (yet), however I already knew people making $300,000++ without any University studies. And when the lecturer capped a job’s income in the business world at $200,000, I knew it wasn’t for me. You see, my goal was to make millions (and it still is).
Lesson 2 – Uni doesn’t teach you resourcefulness
The lecturer had a PhD in Business, however I quickly noticed that his PhD in business just meant he had a framed piece of paper on his wall at home. Why do I say this? Well, other than some jobs he’s previously had, he’d keep mentioning all these business ideas he has. He would talk about them so excitedly and how big these opportunities are for making money. Then he’d kill his own dreams by saying “If only I had money to start those businesses.”
This was another put off for me. Throughout my Personal Development journey and through having some mentors, I’d learned that to succeed financially, resources are not necessary. What’s more important is resourcefulness. When you have a burning desire for something, you’ll do whatever you can to make it happen. When I started my online business, I didn’t have the money to get started but I made it happen because I saw the opportunity and I had a burning desire for financial success. However, this lecturer was still stuck as an employee because he was not willing to think outside the box and figure out a way to bring his dreams into reality.
Lesson 3 – Uni teaches you to be an employee
Another thing I noticed super fast was that the whole University environment was one of employees teaching others to be employees. Not once did I hear the lecturer tell us students how we could one day own a business and be successful in it. All he ever spoke was about climbing the corporate ladder and hopefully getting a high paying job one day.
From my perspective, I saw this as unintentionally brainwashing the students to be employees for the rest of their lives. And guess what, they all bought into it. I remember a student next to me asked what I do outside of Uni and I said I had my own business. Her reaction was priceless – she couldn’t believe I had my own business. She even asked “Why are you at Uni if you already have your own business?” It was like owning a business was so far outside of her reality. And not to mention, this was a post-graduate course. So most of the students, including her, had already completed their degrees in business.
For me however, my vision was to create financial success – to be a millionaire one day – not an employee. And going to Uni, I quickly realised that it was a case of “the middle-class teaching the middle-class how to be an employee and stay middle-class.” I already had millionaire mentors I was learning from and my reality of business, life and success was vastly different from University.
Lesson 4 – Don’t go to Uni to make your parents proud
After I quit University, I realised that the only reason I went was to make my dad proud. I had never wanted to go to University because I’d already learned from my mentors that it wasn’t the place to learn how to create financial success. But I still went anyway.
If you want to go to Uni, make sure it’s because you’re doing something you’re truly passionate about and not because someone else wants you to go. If you do what you love, you’ll have a fulfilling life.
Not All University is Bad
Now, I’m not saying all University is bad. I know when I speak to some people about my thoughts on it, they get offended. If you want to be a surgeon, go to Uni. I know I don’t ever want to go see a surgeon that’s never been to Uni – that would be an experience! Also, if you’re passionate about being a doctor, accountant, lawyer or teacher, then go to Uni. If you don't, you won't get a job in any of these areas.
My perspective on University is more specific to business and creating financial success. If you want to create financial freedom in your life, Uni will not teach you that. Just like the quote I started this post with, University (formal education) will allow you to get a job that will make you a living, but it’s self-education that can make you a fortune.
What About Millionaires and Billionaires?
When you look at the real world, most millionaires and billionaires were school dropouts; and the small percentage that have formal education, they only accredit 5% of it to their financial success. Some school drop outs to name a few include Bill Gates, Thomas Edison, Richard Branson, Michael Dell, Steve Jobs, Henry Ford, Walt Disney, Ray Kroc, Andrew Carnegie and Mark Zuckerberg. If you don't believe me, Google it.
And I’m not saying that millionaires and billionaire are uneducated. In fact, they are some of the most educated people in the world. But the difference is that they get their education from books and mentors who have already created the success they want. They also understand that life-long learning the is key to creating greater results in their lives; whereas most University students don’t get taught this and when they finish Uni, they stop learning all together.
Conclusion
Today, I'm happy that I didn't follow through with Uni. One year and a half later I ended up making the most money I'd ever made in an entire year. And one of the biggest breakthroughs for me was making my first of many $14,000 USD profit sales. If I continued with Uni, I wouldn't have had the time and energy to achieve those financial goals.
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Alex Ford
Digital Marketing Trainer
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Brilliant post Alex! These 4 lessons are spot on. Very interesting stats on university dropouts or those who never even went in reference to being millionaires or even billionaires. Makes sense that if you’re passionate about becoming a doctor or having a degree in a specific area of expertise,then you should definitely go to university. However, if you’re doing it for the wrong reasons like trying to please someone else , then you’ll never be happy. Thank you for sharing your experience and take on this subject. Love it and agree 100%!
Thanks Brian and Felicia. Those stats really are interesting! And it’s not just stats for me. I know a few millionaire who didn’t have formal education or hardly used their formal education for creating wealth.
Thanks for your comment 🙂
Thanks for sharing your thoughts on University education…I agree with you that a University degree is mostly to help people get a job…and many people don’t appreciate what you could learn there…
I learned a lot myself, though I was always motivated in everything I did….
You’re welcome Mey! Glad you got some value from the post 🙂
Great great post Alex. The good thing is you didn’t spend years there before you realised it. You have a wise head on your shoulders for a young man!!! Your dad must be very proud.
Tell me about it Sharon! Even worse if I had never realised it, like most people do.
He sure it 🙂
Thanks for the comment.
I love the Jim Rohn saying, and it is very true, be a self learner and a life long learner! We need to get out of the coin operated employee attitude and start becoming to be an entrepreneur!
I agree with you 110%, Lorraine! Developing an entrepreneurial mindset prepares you more for success in life.
Thanks for commenting 🙂
Great post Alex. There is a place for formal education but most of the world needs an entrepreneur style thinking to respond to the real life situations and as you pointed out in the post university does not prepare you for that.Thanks for sharing.
Spot on David! I think they should make entrepreneurial education a part of all formal education, right from primary school to university and college. It would make the world a much better place!
Thanks for commenting 🙂
I Love this! I agree 100%. I feel going to university should be more like taking a class that intrests us for the sake of our mind, Not our career. I Love MIT and Coursera Because they offer their Classes FREE online So If I want to Sharpen my Mind in a specific area, I can And Thats whats Up. Other than that its all a Big crazy Money game.
Haha I partly agree Tara. Although it’s still important for Professionals and careers that require it. However, it’s not suitable if someone wants to create financial freedom specifically.
Thanks for commenting 🙂
Awesome post Alex….
Mind you, I was getting a lil concerned as I read on that going to Uni was not cool, until you qualified it with ….Professionals Need to go to Uni, Surgeons, Accountants, Architects, Lawyers, Engineers, Teachers…Astronauts, Pharmacists the list is long. BUT There is absolutely no reason why they cant be enterprising with it.
I hole 3 degrees myself and several certificates…adorning my wall very well thank you…BUT the education I have had in the last 3+ years has taught me that YES university education does teach one to BE AN EMPLOYEE! So Thank you for sharing your experiences and qualifying it as well.
Haha I must have taken you on quite the ride Julie!
You’re so right… Professional sure can be enterprising with their profession. However, being an entrepreneur is something they can’t learn at Uni.
Thanks for commenting 🙂
This is the beauty of life we can choose to be what we wish to be because you know there are people for everything. Great story thanks for sharing!
I totally agree PHC-BR! We need all kinds of people on this planet to do all sorts of jobs. I don’t think the planet would function if everyone decided to be an entrepreneur… or maybe it could, I don’t know.
Thanks for commenting 🙂
Thank You Alex for sharing your story, When you are looking for a vision of freedom, the university doesn’t teach you how to dream! You start dreaming when you are younger, then when you become an adult dreams get put on the side for your children. My dream was always to have my own business, I have accomplished that now that I have added more personal development into my lifestyle I can’t wait to see what is a head of me.
So true Liz! Also society conditions people to not go after their dreams and settle for a job. A very sad fact.
So glad to hear that you pursued your dream of starting a business!
Thanks for commenting 🙂
I definitely agree that university is good for people that are passionate about medicine or law (I wouldn’t wanna go to doctor who didn’t attend university), but the problem with that is they don’t teach you how to make money in real world. You gotta learn it yourself! That’s why having your own business is the way to GO!
So right Jelena! Even as a doctor or lawyer, the money is limited. But as an entrepreneur/business owner, your income ceiling is determined only by your imagination.
Thanks for commenting 🙂