Is it FASTLANE to go to school?

[LAMBO-N-IT]

Would it be considered FASTLANE if one were to go to school to enter a business which requires you to have that knowledge in order to enter the business? Does that even make sense LOL

Just as an example is a doctor fast lane if he goes to school for 8 years to learn how to do corrective eye surgery in order to start his own clinics and eventually automating it to give him passive income? Knowing that the doctor went in thinking about his clinics being his exit strategy the entire time.

 

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[wade1mil]

Read this first

 

[LAMBO-N-IT]

already did maybe I didn't search the correct terms

anyways what I'm talking about is a situation where without this "training" you CAN NOT enter that market. You must enter the market and gain experience while building up your capital to eventually get to the point of exit.

For example, a guy that wants to build a sky scraper downtown vancouver can't just hope one day he does it. He needs to start much smaller maybe on a residential house. What if no one will teach him anything and doesn't have the money for a house yet? Well then go to school for 2 years and work for a contractor? Or don't go to school and work a non related day job? The opportunity cost is I guess what needs to be measured.

The problem arises when both routes seem to lead to about the same potential at the end. If you could work a day job lets say fipping burgers or go to school for 2 years and not work...both would net you the same income what would you do? l'm assuming one would pick school because it would also give you some type of training.

 

[Skys]

The general idea of this forum seems to be that it's very stupid (a waste of time and money) to go to college / university. The reason being is that you can become a very smart man by reading 'Who owns the ice house?' and 'one simple idea'.

In all seriousness. There is a place and time for formal education. The biggest CEO's of this world, most of them went to university. Most of them had promising careers before they even became an entrepreneur. They build up tons of experience and a big network. Still, most people here dislike formal education. Most of them are very young though, not much life experience and have a big (fastlane) filter because of all the entrepreneurial books they read. I would say, it's perhaps not fastlane (since all that 'fastlane' is, is a concept about generating passive income and the best way to do just that. School, obviously, is not fastlane.) But, like you say.. if you have this image for yourself to start a company where you really need some formal education (you would be suprised how often you would not need it), do it.

I think formal education is very important. I also think gaining experience as an employee is very important. But, I am the 1% on this forum when it comes to formal education.

 

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[Entourage]

I completely agree with Skys on this. It doesn't harm you, it can only do you good.

On the other hand, the naive young and arrogant me sees formal education as a factory of employees. I believe a "fastlaner" hires a dozen doctors with PHDS and automates their practice.

 

[fsna.hartley]

I also agree with what Skys said. What I understand about fastlane is all about starting business that will eventually help you generate income. What I understand about "eventually" is it won't take years but just a few months to help your business grow and became a passive income generator. If you're going to study for 8 years to become a specialist, I think it won't be considered as Fastlane.

 

[theag]

Here's my take on this:

I dropped out of university in Switzerland in a very reputable general business course because I thought I was going to be a bigshot entrepreneur. Now I gave up various business ideas and started working as a commercial real estate broker because I thought it would be a great entry point into the real estate world, which it definitely is.

In the short months I worked in this job I realized that I love the job and industry but hate the location I work in (Zurich) for various reasons. So my goal now is to move to London until approx. the same time next year and work as a broker there.

In the UK though, most (more senior) brokers are qualified through a professional body that has high entry requirements (e.g. an approved degree, my general business degree wouldn't have helped if I finished it). While being a member in this organization isn't a prerequisite for being a broker in London, it surely gives you a lot of credibility, especially if you're young.

So I decided to start to study again in the coming september - not at a traditional university, but a distance learning course that will take 3 years to complete. And this time it isn't a generic business course, but a really focussed real estate specific course that will give me really relevant and usable knowledge and skills for my future work in London. AND it will allow me to become a member of RICS, which will give me a credibility boost, a lot of networking opportunites etc.

Now I don't know if this helped you because my situation isn't as black and white as becoming a doctor, but my point here is, if you see a fastlane opportunity that requires a formal education, then why not get it? Its a completely different thing than going to college because you're supposed to and everybody does.

 

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[Vigilante]

Here are some threads you could read on the identical topic :

https://www.thefastlaneforum.com/ed...-your-preconceived-notions-about-college.html

https://www.thefastlaneforum.com/education/37944-going-college-waste-time.html

https://www.thefastlaneforum.com/in...-dont-go-into-business-what-do-you-think.html

https://www.thefastlaneforum.com/sl...ell-his-son-go-slow-lane-get-lamborghini.html

https://www.thefastlaneforum.com/mi...at-would-you-do-another-education-thread.html

https://www.thefastlaneforum.com/fastlane/42623-did-college-help-you-anything-fastlane.html

https://www.thefastlaneforum.com/fastlane/42077-go-college-little-rant.html

https://www.thefastlaneforum.com/slowlane/41261-college-job-vs-college-learning.html

https://www.thefastlaneforum.com/ge...ou-think-college-necessary-entrepreneurs.html

https://www.thefastlaneforum.com/general-entrepreneurship-startup/27252-college-i-s-worth.html

https://www.thefastlaneforum.com/ge...-startup/18206-help-me-make-big-decision.html

https://www.thefastlaneforum.com/ge...artup/17976-college-completely-necessary.html

https://www.thefastlaneforum.com/current-events-sports-off-topic/8353-college-not.html

I am sure there are more but these can get you started.

 

[biophase]

I completely agree with Skys on this. It doesn't harm you, it can only do you good.

It harms you if you leave with massive debt to pay back. I think Skys missed the point in that we believe in education and that college is "not" bad. However, the cost of college vs. education is probably not going to give you your best return on your money. So if you look at it from a purely money standpoint, college is not the best investment you can make on yourself. Personally, I still take classes at the local community college. Each class costs me about $250-$300 plus books. I have no problem paying that much for education.

 

[Era]

I still take classes at the local community college. Each class costs me about $250-$300 plus books. I have no problem paying that much for education.

That's interesting. Do you take classes that are business related like psychology and marketing or do you choose to take classes that are geared more towards hobbies/interests that have nothing to do with business?

 

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