Formal Education?

That is true... for those searching for a job.

But the point of this thread is to discuss this topic from an entrepreneur's point of view (meaning NOT searching for a job). And as far as entrepreneurs go, a certificate does not improve your income in any way. Quite the opposite actually: it sets you back 4 years and tens of thousands of dollars that could have been directly invested in your business, instead of being invested in a generalist and often outdated trivia knowledge.

As an entrepreneur, I think I will keep my 4 years and tens of thousands of dollars and invest them in my business, so I can get actual REAL-WORLD education... which in business (online or offline) it's the only one that matters.

There are a few reasons why I'm leery of college education.

A. The price has gone up significantly in the last 30 years. I think this is a fact. At the rate of inflation, or much higher.

B. What they teach is somewhat questionable, and/or overly basic. I.e. I graduated from college in 2004 with a degree in finance. I had marketing classes....they teach....the 4 p's? I think everyone has heard of that. The michael porter 5 forces model.

They skim the surface. Kind of like telling you the types of keys on a piano. The real question is, what do you do with those keys. How hard do you press them. Traditional marketing is also being rapidly supplanted (i.e. the decline of traditional broadcast media and advertising).

I don't look at college just in a money making sense. But also, practicality.

C. There are an awful lot of personalities and people to learn from that aren't covered in college. This isn't just a money making idea. But general knowledge. College is suppose to be this great bastion of knowledge. Why do they leave out so many great thinkers?

Look at advertising and selling. Do they cover...Claude Hopkins, Albert Lakser, Leo Burnett, etc? Why not?

I think if you have the wrong pre conceived ideas, education can limit you to conventional employment. How often have you heard the story....it took me 10 years to get rid of this idea I had, before I could be successful, or before I could do X. Or, I had to unlearn something, before I could do X. If its a tightly wound idea, it can be hard to get rid of it.

They also completely miss common sense. Which has profound implications for later in life (after you're 20's). Common sense alone can be a masters or ph d.

I.e. two men go through life after their 20's.

One has a very high economics degree. Wharton, all these letters after his name. Studies all the economic numbers. Can write long economic papers. Remember all the economists who thought their was no recession. Or homes were going to go up forever.

Then there's the man on the street. He really sees the recession. Much more in tune with reality. They're going to see two different worlds.

Also, you have to learn about yourself....what you're good at, what your inclinations are. That's whats valuable.