Is learning in college fastlane or slowlane?
Is learning in college fastlane or slowlane?
I know that my success will not be determined wether or not I will get a college degree.
But the question is - wether a college degree helps you out in your entrepreneur road, or sets you back?
What do you think?
Re: Is learning in college fastlane or slowlane?
The piece of paper looks good on the wall and on JOB apps.......
The degree itself will neither help nor hurt you....
How you interpret and use the information you've learned will determine what direction your college experience takes you.
You just gotta know what it is and what it isn't. Going to college doesn't guarantee anything.
Too many of my friends have just gotten degrees and are sort of scratching their heads as to what to do, because they were under the impression that degree = job = income/benefits. Now that that reality is no longer the case a lot of folks are movin back in with the parents.
IMO the most valuable part of the college experience is meeting and learning from your peers, not necessarily from the person at the head of the classroom.
We are what we think we are, and what we perceive ourselves to be is what we will ultimately become.
Re: Is learning in college fastlane or slowlane?
There are many aspects of college that can help you on your way to the Fastlane.
- Networking
- Self-discipline
- Higher pay once done = more to invest
- Even having something to fall back on might help you take more risks
But it is Slowlane imo
- Takes too long (usually 4+ years)
- Gets you a job
- Most likely won't ever get you rich
College is really what you make it and how you use its resources to your advantage. It doesn't have to be a crutch. Some people have started Fastlane businesses while attending college.
RonRiktor (Jun 14th, 2009)
Re: Is learning in college fastlane or slowlane?
College gives you more than just information. You meet contacts, and you mature. You learn self-discipline, as well as how to think rationally and objectively, which can help you in the fastlane. Also, remember, many startups happened when the founders were in college.
However, just as a Ferrari is only fast if you press the accelerator, college is only fastlane if YOU make it that way.
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MJDeMarco (Jun 14th, 2009)
Re: Is learning in college fastlane or slowlane?
I am about to be a junior, and so far college hasn't helped me at all in the fastlane sense. One thing I notice everyday is how easily I could market a product or website/service on my campus.
Re: Is learning in college fastlane or slowlane?
Depends on how you frame it's purpose. If you go to college to be an automotive technician, you are priming for a Slowlane strategy -- the core essence of the Slowlane is to build wealth by raising intrinsic value -- the more the marketplace values you, the more your trade of time earns. Sadly, most colleges are preparatory schools for this purpose -- to raise your intrinsic value so you are more valuable in the job market.Originally Posted by Davidla
I went to college under the notion that I wanted to build a company -- this was how I framed my education's purpose -- I wasn't interested in raising my intrinsic value (I was told that if I went back and get my MBA, I'd be able to command another 15% in the job market!) Instead, I was interested in creating and facilitating a system/business that would do the heavy "wealth" lifting for me.
Slowlane = Maximization of Intrinsic Value
Fastlane = Maximization of the Business System
Regardless of purpose, college always serves the purpose that others have mentioned: Networking (you might meet your future wife or business partner) social skills, time management, team work, discipline, delayed gratification (beer or study?) etc.
Good luck.
Re: Is learning in college fastlane or slowlane?
Good stuff Jay. College is only a tool. How you use it is up to you. +++speed.
Re: Is learning in college fastlane or slowlane?
I think the post above says it all. College is what you make of it. If you want to gain skills to be in a "safe job"...you can do that.
For me, school was something I personally decided to take on because I felt the need to show others that I could do it. All along, I have kept the fire of starting my own business going and never bought into the "safe job" concept.
Time management has been big for me though over the last two years. College has helped me in that part of my life.
Re: Is learning in college fastlane or slowlane?
It will surely help you, but will slow you down as starting a business while going to college is somewhat of a difficult task. That said, I would take the time in college to think your business plans through and use the people around you to network and get your systems in place, professors can have good advice, but some can also be very negative, take everything with a grain of salt and surround yourself with like-minded people that are going to give you input on ways to the fast-lane. Hope this helps!
Re: Is learning in college fastlane or slowlane?
Great responses so far and I'll add my .02...
First off a huge +1 on college is what you make of it, but additionally you have to make sure you are going for the RIGHT reasons.
I had a discussion today about this and how my dream in life was to design cars, unfortunately I was "indoctrinated" to believe that this meant going straight to a prestigious 4yr engineering school, instead of the logical(and quicker) path of just going to a local design school for 2yrs. This meant taking AP courses in HS that I didn't need instead of technical classes(some of which I still took in lieu of AP's my senior year) and focussing on getting into college INSTEAD of figuring out the quickest path to do what I wanted to do. Like most I went with the assumption that the 4yr degree would be more marketable and prestigious while also being something to fall back on.
Well after 2yrs I needed a change of scenery and unfortunately this also meant a change of study, which was ironic because I transferred from a small highly ranked engineering school to University of Illinois(a top 10 large engineering school), but because my grades were not high enough(3.3+ gpa required) I had to use a safety net(LAS- German) to get in and never got back into engineering. The irony being that I lived on a floor with transfer students and about 10 of the 20 transferred into engineering... from Community College! Yea, the path that I once thought laughable in going to Community College for 2yrs and transferring to a 4yr school ended up being that I was the joke and I had spent over $30k/yr for 2 yrs not to mention got my first credit cards and built up debt from everyday living expenses I wouldn't have had, had I went to Community College, lived at home and worked full time(instead of PT in school and FT in the Summer)
Through all that, I wouldn't trade in the experiences I had and as MJ said, I found my future wife and business partner, as well as several lifelong friends and many once-in-a-lifetime experiences from college and the "failures" of college in all the wasted time/money and not following through on the degree I started, will just make a great chapter in the biography of my success story as a life lesson that I learned from and can help teach others to not make the same mistakes such as:
-Do your due diligence... make sure that you are going to the college YOU want to study what YOU want.
-Use college as a networking event and keep an active mind, don't get too fixated on GPA and getting stuck in the rat race.
-Watch your expenditures!!! I was not the type to "party", while I went out a few times, I always was a "cheap-skate"(never paid cover, only drank when it was $1 specials, etc), remember to have fun, but don't lose your shirt(see thread on 30k millionaires for examples).
"Not trying is the only way not to succeed"
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Re: Is learning in college fastlane or slowlane?
i completely agree with the fact that college is what you make of it. Its a valuable resource as long as you make it one. Inherently the tools for success are available, just like in life it is what you choose to do with them that judges its success.
Re: Is learning in college fastlane or slowlane?
Thanks for all of you who replied and gave from their experience.
I understand the concept of "College is what you make of it".
And like MJ, I know that I want to build a company - and not have a job afterwards.
But I wonder what kind of major would push me forward to my goal?
Naturally, one would think about management and or economy - because they interest me, but lets face it:
1) Management - learning a management degree as far as I know would give little to an entreprenuar (Learning about Maslo's ladder of needs, or Druker's theories), and are more suited for a manager in a big firm.
Of course this study would come handy later on, but from a little research i've done the materials learnt in the first degree aren't really "practical" , and pretty much set the ground for the 2'nd degree. (Until a few years ago we didn't have a first degree in management).
2) Economics - learning economics also does little for a business owner in my opinion. A small business owner does not need more than to understand how the economy works, and hasn't got much interest on how the federal bank manages his balance, how the government makes a budget, or how countries manage their trade with forex.
This leads me to the next topic I want to comment about:
I agree with the fact that college can be a great success & learning ramp because of the people you meet, the experience you go through and the things you learn. And of course I will learn what interests me.
But on the other hand - college seems like a major detour towards my goal of building a business - and not like a straight line that leads to it.
Especially when there is no major that you can learn entrepreneurship in.
Also - somehwere it looks as if today going to college is mainstream, and I'm trying to think out of box.
So it's still very hard for me to decided what lane I will choose.
I think that the lane I will go with is that if I come across an idea that I want to go all the way with, I"l do it.
If not, college it is.
Re: Is learning in college fastlane or slowlane?
College doesn't hurt; if you want to be in business go get a degree.
"Starvation is God's way of punishing those who have no faith in Capitalism."
R. Cobb
Re: Is learning in college fastlane or slowlane?
In my opinion, If ALL you are doing is going to class, partying, and hanging out - you aren't maximizing your potential! You've got massive expenses (tuition, books, housing, fees, possibly loans?) and you should be keeping active outside of school to offset those expenses or even turn a profit.
I think a lot of college students think they will do something great "after school" and just let themselves relax for a few years. Yes, you're young, but the whole point of being Fastlane is enjoying it by being as successful as you can!
So if someone had the same intention as you, it would be a good idea to go to college then? Which one did you go to btw and what did you think of it?
College could become fastlane if you meet the right people and use it to start and get ahead in your business. Going to school for 4 years to get a degree and landing a job won't help you in the fastlane.
It has its benefits and negatives but for me so far it has been the worst investment of my life and I don't have any debt because of it. I am hoping to be proven wrong soon but time will tell.
At the end of the day it is all about what you want to do and what you want to get out of it. I got nothing because for me I always knew I wanted to own my own business. I had business partners but most of them flaked after graduation for secure jobs. If it was a different economic time the answers would be different but graduating with a mountain of debt and realizing there is no high paying job waiting for you has made a lot of people second guess their decision.
My management classes were such a joke with the exception of Strategic Management, that taught about business strategy "think strategic consulting firms". Based on what they teach it is no wonder why people hate their jobs in corporate America.
I think with an internet connection and a library card you can learn everything and anything that college can and more. Plus you will learn it faster. However, the question is are you ready for it. At 18 I was not now I am upset that I wasn't.
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