Isn't a uni degree necessary for this?

[Sarthak_Tyagi]

In TMF and most of the entrepreneurs talk about how a degree or college education is really not that important, but I have seen many people getting judged by their qualification in their social environment. And social environment is really important in a business because that's one of the first things you try to tap on for initial marketing.

For example, consider the two situations-
1.) Steve is from Harvard and he decided to start a business, when he decided to market his product. He being from Harvard impressed a lot of people and people tend to buy his product.

2.) Travis doesn't have any formal education but he has read hell lot of books and has more knowledge than Steve, but when he started a business people saw that Travis didn't have any degree and doubted his potential, which made them skeptic about his service.

Isn't this a reality and if yes then how to deal with this?

 

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[Disciple96]

I think in one of MJs books he says something to the effect of "do you ask the sales rep at Apple computer what qualifications Steve Jobs had"?

Or, "When you buy something on Amazon, do you reach out to the owner so make sure they are college educated in a relevant field?"

For some things, yes, it would offer reassurance to some folks. For other things, you absolutely do need formal education to offer a competitive value, sometimes required by law. (e.g. law firm, pediatrics office, trades)

For most things though, nobody really cares as long as it is a fair exchange of value between you and your customer. A good boat salesman need not have a degree in hydroengineering but the guys making the boat, probably do.

In your example it could be seen as a barrier to entry.... get amazing grades in all through HS and go to an ivy league to be formally trained... to most people, that signals very high value, but note that those people will not necessarily see the self-educated man as "less capable", just less trustworthy, rather, less "social proof" Which is why it's important to be a good salesman

 

[Jobless]

You deal with this by relying on other factors than 'social environment'.

You sell a product instead of a service, you do it online not face-to-face, you hire someone 'impressive' to be the face of the business/brand, you rely on other types of marketing than your personal endorsement, you show your experience not your degrees, you have a captivating story, you can demonstrate proof etc.

 

[Speed112]

Isn't this a reality and if yes then how to deal with this?

I don't believe so. Of course, things are different culturally in different places and with different individuals. Some people value credentials very highly and would never let themselves work with someone that isn't adequately qualified. And qualified to them doesn't mean capable of delivering results, or being able to do a good job, but having a piece of paper that signals it.

Those people would rather hire an incompetent graduate with a masters in whatever, than a competent dropout that would do 5 times a better job. And they would be the ones losing out! The market naturally punishes these people because they are poor judges of talent and their businesses will lose out in the face of competition... so you don't want to work with them anyway.

There's nothing you can do about it. That's their choice. Some people are ageist, racist, or credentialist. Whatever.

But the reality is, you don't have to do anything about it. You don't have to interact with them. You don't have to sell to them. They don't need to be your clients. Let them buy from a credentialed amateur while you target and sell to those who appreciate what you're doing.

It's like asking if you should worry about having your electronics be vegan or GMO-free because people care about those things. Yeah, sure, sometimes, in some contexts. Not necessarily in yours.

If you plan on being a surgeon, you probably will want to go through academia and get the credentials necessary for people to trust you with the scalpel.

But I've never needed a university degree to work with successful business owners from all over the world. I've consulted CEOs with more time spent in higher education than I've spent being alive. Why? Because I knew more about marketing than them and they trusted that I could bring them results. Which I did, and they happily paid me for.

Some people will doubt and be skeptical and prefer the more "qualified" individual's product. And they'd be wrong, and that's fine. But most people care about your ability to solve their problem, regardless of how. If you can prove that you are or have the solution to their problem, they will forget about your experience or magical pieces of paper.

It all comes down to social proof and results, as well as your ability to clearly communicate your offer. Degrees and certifications are a form of social proof. It's a supposedly trustworthy institution promising that you've got the knowledge in that field. But there are other forms of social proof as well: referrals, testimonials, case studies, general success indicators...

There's a mixture of different elements that incrementally tip the balance of trust in your favor and lead to the sale.

Some of those elements are more important to some people than to others.

Believing that one element, even if it's the most important (it's not) is sufficient to make or break your success is nothing more than a limiting belief holding you back and narrowing your perspective.

So I suggest you meet the audience you're trying to serve, talk to them, see what they care about before they make a purchase, and then judge for yourself what's worth investing in to increase your chance of success.

Hope this helps you understand a bit better why people say degrees are not really that important.

P.S.: I've never tapped my social environment for business because I've always worked in a field/direction that is culturally foreign to all of my friends or family. The few times I've tried I never got even a promise of results. Tapping your social environment is something an MLM or Insurance "salesman" would tell you to do, but I don't think it works that way with real businesses and I've never recommended that to any of my clients. Your audience is out there.

 

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[RussRussman18]

It may be an issue in some very specific B2B niches heavily regulated by the government. But in general I would say no

 

[socaldude]

Not once have I ever heard of a problem like that where a customer refuses to buy a product or a private equity investor refuses to write a check because you didn’t go to university.

 

[WJK]

In TMF and most of the entrepreneurs talk about how a degree or college education is really not that important, but I have seen many people getting judged by their qualification in their social environment. And social environment is really important in a business because that's one of the first things you try to tap on for initial marketing.

For example, consider the two situations-
1.) Steve is from Harvard and he decided to start a business, when he decided to market his product. He being from Harvard impressed a lot of people and people tend to buy his product.

2.) Travis doesn't have any formal education but he has read hell lot of books and has more knowledge than Steve, but when he started a business people saw that Travis didn't have any degree and doubted his potential, which made them skeptic about his service.

Isn't this a reality and if yes then how to deal with this?

When I was younger, this was a very big issue. Now it no longer has much weight.

The big advantage the guy from Harvard has over guys like Travis is his contacts and his exposure to the business world. A lot of the guys who got into Harvard were included in a very privileged group of kids. Together, as a group, they went to preschool, private school, and prep school. Many went to boarding school together. At home, they were exposed to business leaders and powerful people. Those contacts and personal experiences many times give them leg up before they even get started.

Travis' advantage is that he really wants it. He has a fire in his belly. Steve has had most of his advantages handed to him -- which will take him a long way. But, over time, I'd put my odds on Travis. He will surge ahead because of his passion and diligence.

 

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[Kak]

I went to Baylor. A pretty highly regarded business school and university. It didn’t matter and I have learned 1000x more doing business than reading about it (or being taught by people who are not businesspeople).

Not a single person I have EVER done business with has asked me if I have a degree.

Most of the forum probably didn’t even know, but I have people who follow what I post, and listen to my radio show and somehow still consider it valuable.

 

[Guest-5ty5s4]

When I was younger, this was a very big issue. Now it no longer has much weight.

The big advantage the guy from Harvard has over guys like Travis is his contacts and his exposure to the business world. A lot of the guys who got into Harvard were included in a very privileged group of kids. Together, as a group, they went to preschool, private school, and prep school. Many went to boarding school together. At home, they were exposed to business leaders and powerful people. Those contacts and personal experiences many times give them leg up before they even get started.

Travis' advantage is that he really wants it. He has a fire in his belly. Steve has had most of his advantages handed to him -- which will take him a long way. But, over time, I'd put my odds on Travis. He will surge ahead because of his passion and diligence.

I agree. And I think it will be harder for Steve to stay motivated since he has those golden handcuffs, so to speak.

More to lose and less to gain.

But that internal drive is personal and can come from anyone with any background. It’s really a part of your personality, and your character. It’s who you are